Document title: Underwriting Auction for Sale of Government Securities for ₹32,000 crore on August 14, 2026
Issuing authority: Reserve Bank of India (RBI)
Reference number: Press Release 2026-2027/882
Date: August 13, 2026
Capital Markets and Flows
The Government of India has announced the sale (issue/re‑issue) of government securities totalling ₹32,000 crore, to be conducted through an underwriting auction on Friday, August 14, 2026. The securities offered are: New Government Securities (GS) maturing in 2029 and 2033, each with a notified amount of ₹11,000 crore; a 7.24% GS maturing in 2055 with a notified amount of ₹5,000 crore; and a 7.50% Government of India Savings Bond (GOI SGrB) maturing in 2056 with a notified amount of ₹5,000 crore. Under the extant underwriting commitment scheme notified on 14 November 2007, the Minimum Underwriting Commitment (MUC) per primary dealer (PD) is set at ₹262 crore for each of the new GS 2029 and 2033 issues, and at ₹120 crore for each of the 2055 and 2056 issues. 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. Primary dealers 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 underwriting commitment framework established on 14 November 2007, which defines both the minimum underwriting commitment and the minimum bidding commitment for each primary dealer. The RBI has stipulated that the auction will follow a multiple price‑based mechanism, and that all bidding must be conducted electronically through the e‑Kuber platform within the specified time window. The crediting of underwriting commissions to the PDs’ current accounts on the issue day reflects the RBI’s procedural guidelines for settlement of underwriting fees.
The RBI’s facilitation of this large‑scale government securities auction underscores its role in supporting government financing needs while ensuring orderly market participation by primary dealers through defined underwriting commitments and electronic bidding processes.