The Government of India will conduct an underwriting auction for the sale of Government Securities amounting to ₹32,000 crore on May 15, 2026. The Reserve Bank of India (RBI) has confirmed that the entire notified amount for the new security will be subject to this underwriting process.
According to the RBI, the announcement states, “Government of India has announced the sale (issue/re-issue) of Government Securities… through auction to be held on May 15, 2026 (Friday).”
The underwriting auction will utilize a multiple price-based methodology, allowing participants to submit bids at various price levels for the long-term government securities in question.
“As per the extant scheme of underwriting commitment notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) auction, applicable to each Primary Dealer (PD),” the RBI articulated in its release.
The ‘6.36 per cent GS 2031’ and ‘New GS 2066’ securities will have a notified amount of ₹21,000 crore and ₹11,000 crore, respectively.
Primary Dealers are required to submit their bids for the ACU auction through electronic channels. To facilitate these transactions, the RBI has mandated the use of its Core Banking Solution, known as the e-Kuber system.
“PDs may submit their bids for ACU auction electronically through Reserve Bank of India Core Banking Solution (e-Kuber system) between 09:00 A.M. and 09:30 A.M. on the day of the underwriting auction,” the RBI specified.
Additionally, the RBI’s administrative guidelines indicate that the commission for these underwriting services will be credited to the current accounts of the respective Primary Dealers on the date of the security issuance.
Published on May 14, 2026.
