Document title: Underwriting Auction for Sale of Government Securities for ₹28,000 crore on July 24, 2026
Issuing authority: Reserve Bank of India, Department of Communication
Reference number: Press Release 2026-2027/737
Date: July 23, 2026
Capital Markets and Flows
The Government of India has announced the sale (issue/re‑issue) of government securities amounting to ₹28,000 crore, to be conducted through an underwriting auction on July 24, 2026 (Friday). Two securities are being offered: New Government Security (GS) 2041 with a notified amount of ₹17,000 crore, and the 7.43% GS 2076 with a notified amount of ₹11,000 crore. Under the underwriting commitment scheme notified on 14 November 2007, each Primary Dealer (PD) is required to undertake a Minimum Underwriting Commitment (MUC) of ₹405 crore for the New GS 2041 and ₹262 crore for the 7.43% GS 2076. The same amounts constitute the minimum bidding commitment per PD under the Additional Competitive Underwriting (ACU) auction. The auction will be conducted using a multiple price‑based method. PDs may submit their ACU bids electronically via the RBI’s Core Banking Solution (e‑Kuber system) between 09:00 A.M. and 09:30 A.M. on the day of the underwriting auction. The underwriting commission earned by each PD will be credited to its current account with the RBI on the day the securities are issued.
Regulatory and Policy Measures
The underwriting auction operates under the extant scheme of underwriting commitment that was originally notified on 14 November 2007. The scheme specifies both the Minimum Underwriting Commitment and the minimum bidding commitment for each primary dealer, ensuring a baseline level of participation and market stability. The use of the e‑Kuber electronic platform for bid submission reflects the RBI’s ongoing push for digitalisation of market processes. Credit of the underwriting commission to the PDs’ RBI current accounts on the issue date provides immediate settlement and enhances liquidity for the dealers. For further information, the Department of Communication can be contacted via email at helpdoc@rbi.org.in or by phone at 022‑2266‑0502.
The announcement underscores a substantial government securities issuance aimed at financing fiscal requirements, with clearly defined underwriting commitments and an electronic bidding mechanism designed to ensure efficient market participation and prompt settlement of commissions.