The auction will cover re-issues of 6.53% GS 2031 and 7.71% GS 2066. Primary dealers must submit additional competitive underwriting bids through RBI’s e-Kuber system between 9:00 a.m. and 9:30 a.m.
BKK Bureau, New Delhi | 22 October 2026 | 6:01 PM IST
The Reserve Bank of India has announced an underwriting auction on October 23, 2026, for the proposed sale or re-issue of Government of India securities with a combined notified amount of ₹33,000 crore. The auction will cover two securities: 6.53% Government Security 2031 and 7.71% Government Security 2066.
According to the RBI notice, the notified amount for the 6.53% GS 2031 is ₹19,000 crore. The notified amount for the 7.71% GS 2066 is ₹14,000 crore. The securities are being offered as re-issues through an auction scheduled for Friday, October 23.
Commitments for primary dealers
The notice sets out the underwriting obligations applicable to each primary dealer under the existing underwriting commitment scheme notified on November 14, 2007. For the 6.53% GS 2031, each primary dealer has a Minimum Underwriting Commitment of ₹453 crore and a minimum bidding commitment of ₹453 crore under the Additional Competitive Underwriting auction.
For the 7.71% GS 2066, the corresponding Minimum Underwriting Commitment is ₹334 crore per primary dealer, while the minimum bidding commitment under the Additional Competitive Underwriting auction is also ₹334 crore. Across the two securities, the specified MUC and minimum ACU bidding commitments total ₹787 crore per primary dealer.
Auction process and timing
The RBI said the underwriting auction will use a multiple price-based method. Primary dealers may submit their bids for the Additional Competitive Underwriting auction electronically through the RBI’s Core Banking Solution, known as the e-Kuber system.
The bidding window will remain open from 9:00 a.m. to 9:30 a.m. on October 23, the day of the underwriting auction. The notice identifies the electronic submission channel and the precise 30-minute window for primary dealers to place their ACU bids.
The RBI also said the underwriting commission will be credited to the current account of the respective primary dealer with the central bank on the day the securities are issued. The announcement was issued by the RBI’s Department of Communication and carries press release number 2026-2027/1366.
Details at a glance
- Underwriting auction date: October 23, 2026
- Total notified amount: ₹33,000 crore
- 6.53% GS 2031: ₹19,000 crore; MUC and minimum ACU commitment of ₹453 crore each per primary dealer
- 7.71% GS 2066: ₹14,000 crore; MUC and minimum ACU commitment of ₹334 crore each per primary dealer
- Bid submission: RBI’s e-Kuber system, from 9:00 a.m. to 9:30 a.m.
- Auction format: Multiple price-based method
Why it matters
The notice provides the operational framework for primary dealers participating in the underwriting auction for ₹33,000 crore of government securities, including security-wise commitments, the bidding process and the timing for commission settlement.
Source: Reserve Bank of India
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