Document Title, Issuing Authority, Reference, Date

Auction of Government of India Dated Security

Reserve Bank of India (RBI) – Department of Communication

Press Release: 2026-2027/1161

Date: 21 September 2026\

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Policy rates and liquidity\

The RBI is re‑issuing a single dated government security, 6.94% GS 2036, with a notified amount of ₹34,000 crore. The auction is part of RBI’s liquidity management operations, providing a mechanism to absorb liquidity from the market. The Government of India retains an option to keep an additional subscription of up to ₹2,000 crore, further enhancing flexibility in liquidity absorption.\

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Capital markets and flows\

The auction will be conducted on 25 September 2026 (Friday) using a multiple‑price method. Settlement is scheduled for 28 September 2026 (Monday). Bids must be submitted electronically via the RBI Core Banking Solution (e‑Kuber system). Non‑competitive bids are accepted between 10:30 a.m. and 11:00 a.m.; competitive bids between 10:30 a.m. and 11:30 a.m. Primary dealers may submit Additional Competitive Under‑writing (ACU) bids from 09:00 a.m. to 09:30 a.m. on the same day. The minimum bid size is ₹10,000 (nominal) and thereafter in multiples of ₹10,000. Up to 5% of the notified amount may be allotted under the non‑competitive segment to eligible individuals and institutions as per the Scheme for Non‑Competitive Bidding Facility. Successful competitive bids will be accepted at their quoted yield/price; non‑competitive allotments will be at the weighted‑average rate of successful competitive bids.\

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Regulatory and policy measures\

The auction follows the specific notification F.No.4(1)-B(W&M)/2026 dated 21 September 2026 and the General Notification F.No.4(2)-B(W&M)/2018 dated 26 March 2025. The security will be eligible for “When Issued” trading from 22 September 2026 to 25 September 2026. It will also be eligible for repurchase (repo) transactions under the Master Direction on Repurchase Transactions (2025) and for investment by non‑residents under the Fully Accessible Route guidelines. Underwriting will be carried out by primary dealers in accordance with the Revised Scheme of Underwriting Commitment and Liquidity Support (circular RBI/2007‑08/186 dated 14 Nov 2007, as amended).\

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In the event of IT system failure, physical bids may be submitted to the Public Debt Office, Mumbai, using prescribed forms obtainable from the RBI website, with contact emails and phone numbers provided. Technical issues should be reported to the Core Banking Operations Team (email: cbot@rbi.org.in; phones: 022‑69870466, 022‑69870415) and auction‑related difficulties to the IDMD auction team (email: auctionidmd@rbi.org.in; phones: 022‑22702431, 022‑22705125).\

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The issue of securities to successful bidders will be effected by credit to the Subsidiary General Ledger Account (SGL) or Constituents' SGL maintained with the RBI. Interest on the security will generally be paid half‑yearly, with exact coupon periodicity specified in the specific notification.\

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Ajit Prasad, Communications, Deputy General Manager, signed the press release. This auction reflects RBI’s ongoing efforts to manage market liquidity and support orderly functioning of the government securities market.