What changed
RBI announced an underwriting auction for the sale (re-issue) of government securities worth ₹32,000 crore, scheduled for June 19, 2026 (Friday). The auction covers four securities: 6.03% GS 2029 (₹11,000 crore), 6.68% GS 2033 (₹11,000 crore), 7.24% GS 2055 (₹5,000 crore), and 7.50% GOI SGrB 2056 (₹5,000 crore). Minimum Underwriting Commitment and ACU bidding amounts per Primary Dealer are set at ₹262 crore for the first two securities and ₹120 crore for the latter two.
What it means for you
This auction ensures Primary Dealers commit to underwrite the government's borrowing program, reducing market risk for the RBI. For banks and PDs, it provides a clear schedule and bidding parameters, allowing them to plan liquidity and capital allocation. The multiple-price method means each successful bidder pays their own bid price, potentially leading to varied underwriting commissions.
What you must do
- Submit ACU bids electronically via e-Kuber between 9:00 AM and 9:30 AM on June 19, 2026.
- Ensure compliance with MUC and minimum ACU bidding commitments: ₹262 crore for 6.03% GS 2029 and 6.68% GS 2033, and ₹120 crore for 7.24% GS 2055 and 7.50% GOI SGrB 2056.
- Prepare for underwriting commission credit to your RBI current account on the issue date of the securities.
Who it affects
Primary Dealers, Banks participating in government securities auctions, RBI's debt management operations
What is the auction method for this underwriting auction?
The underwriting auction will be conducted using a multiple price-based method, meaning each successful bidder pays the price they bid.
When will the underwriting commission be paid?
The underwriting commission will be credited to the current account of the respective Primary Dealers with RBI on the day the securities are issued.
What are the notified amounts for each security?
The notified amounts are: ₹11,000 crore for 6.03% GS 2029, ₹11,000 crore for 6.68% GS 2033, ₹5,000 crore for 7.24% GS 2055, and ₹5,000 crore for 7.50% GOI SGrB 2056.