Overview of the Scheduled Government Security Auction

The Reserve Bank of India has announced the sale and re-issue of a government dated security for a notified amount of Rs 34,000 crore. The auction process forms part of government borrowing operations managed through the central bank’s Mumbai office. Authorities have retained an option to accept additional subscriptions of up to Rs 2,000 crore for the specific security.

Auction Schedule and Bidding Guidelines

The auction of the 6.94 percent Government Security maturing on May 11, 2036, is scheduled for August 28, 2026. Market participants will submit their bids electronically through the Reserve Bank of India Core Banking Solution, known as the e-Kuber system. The process will follow a multiple price method, where successful participants secure allotments at their individual quoted yields or prices.

The operational timelines for the auction day are structured as follows:

• Primary dealers can submit underwriting bids between 9:00 AM and 9:30 AM.
• Non-competitive bids are accepted from 10:30 AM to 11:00 AM.
• Competitive bids remain open from 10:30 AM to 11:30 AM.

Results will be declared on the same day, while successful bidders must complete their financial settlements by August 31, 2026. Additionally, the security has been cleared for “When Issued” trading starting from August 25 through August 28, 2026.

Participation Structure and Terms

Eligible individuals and institutions can participate through the non-competitive bidding facility, which allocates up to five percent of the notified sale amount. Individual investors may also utilize the Retail Direct portal to place their bids. Securities will be issued in minimum denominations of Rs 10,000 and subsequent multiples thereof, with successful allotments credited directly to Subsidiary General Ledger accounts.

Primary source: This independent news summary is based on official information from Reserve Bank of India. Read the original document for complete details.