**Executive Summary**
The Indian government announces the sale (re-issuance) of government securities through price-based auctions via multiple price method to be conducted by the Reserve Bank of India (Mumbai) on December 26, 2025. The securities include "5.91% Government Security 2028" for ₹9,000 crore, "6.28% Government Security 2032" for ₹11,000 crore, and "7.24% Government Security 2055" for ₹12,000 crore. The results of the auction will be announced on December 26, 2025, and payments by successful bidders are due on December 29, 2025.
**Key Points / Main Content**
* **Auction Details:**
* The auction will be conducted by the Reserve Bank of India, Mumbai on December 26, 2025.
* Price-based auctions via multiple price method will be used.
* **Securities for Sale (Re-issuance):**
* "5.91% Government Security 2028" for ₹9,000 crore.
* "6.28% Government Security 2032" for ₹11,000 crore.
* "7.24% Government Security 2055" for ₹12,000 crore.
* The government reserves the right to retain additional subscriptions up to ₹2,000 crore for each security.
* **Bidding Process:**
* Up to 5% of the notified amount of the sale of securities will be allotted to eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility in the auctions of Government Securities.
* Both competitive and non-competitive bids must be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system by December 26, 2025.
* Non-competitive bids must be submitted between 10:30 AM and 11:00 AM.
* Competitive bids must be submitted between 10:30 AM and 11:30 AM.
* **Results and Payment:**
* Auction results will be announced on December 26, 2025.
* Payment by successful bidders is due on December 29, 2025.
* **Eligibility:**
* The securities are eligible for "when issued" trading as per the Reserve Bank of India circular RBI/2018-19/25 dated July 24, 2018.
**Impact Analysis**
**Stakeholders:** Investors (Individuals and Institutions)
* **Impact:** Investors have the opportunity to purchase government securities with varying maturities and yields.
* **Action Required:** Investors must submit their competitive or non-competitive bids electronically through the Reserve Bank of India's E-Kuber system by the specified deadlines on December 26, 2025. Successful bidders must make payments by December 29, 2025.
**Stakeholders:** Reserve Bank of India (RBI)
* **Impact:** RBI is responsible for conducting the auction.
* **Action Required:** RBI needs to facilitate the auction process and handle the sale of securities as per the guidelines.
**Stakeholders:** Government of India
* **Impact:** Raising funds through the issuance of government securities.
* **Action Required:** Monitor the auction process and ensure the funds are received.
Key Entities Referenced
भारतीय रिज़र्व बैंक: The Reserve Bank of India, responsible for conducting the auctions mentioned in the notice.
सरकारी प्रतिभूति 2028: 5.91% Government Security 2028, one of the securities being auctioned.
सरकारी प्रतिभूति 2032: 6.28% Government Security 2032, one of the securities being auctioned.
सरकारी प्रतिभूति 2055: 7.24% Government Security 2055, one of the securities being auctioned.
मुंबई: Mumbai, location of the Reserve Bank of India office conducting the auction.
(cid:366)ेस िव(cid:466)(cid:304)(cid:593)
भारत सरकार ने (i) मू(cid:670) आधा(cid:303)रत नीलामी, िविवध मू(cid:670) िविध के मा(cid:559)म से 9,000 करोड़ (cid:348)पये (अंिकत)
की अिधसूिचत रािश के िलए "5.91% सरकारी (cid:366)ितभूित 2028", (ii) मू(cid:670) आधा(cid:303)रत नीलामी, िविवध मू(cid:670)
िविध के मा(cid:559)म से 11,000 करोड़ (cid:348)पये (अंिकत) की अिधसूिचत रािश के िलए "6.28% सरकारी (cid:366)ितभूित
2032" और (iii) मू(cid:670) आधा(cid:303)रत नीलामी, िविवध मू(cid:670) िविध के मा(cid:559)म से 12,000 करोड़ (cid:348)पये (अंिकत) की
अिधसूिचत रािश के िलए "7.24% सरकारी (cid:366)ितभूित 2055" की िब(cid:354)ी (पुनिन(cid:330)ग(cid:330)म) करने की घोषणा की है |
भारत सरकार के पास उपरो(cid:389) (cid:366)(cid:529)ेक (cid:366)ितभूित म(cid:336) 2,000 करोड़ (cid:348)पये की सीमा तक, अित(cid:303)र(cid:389) अिभदान
बनाए रखने का िवक(cid:665) होगा। यह नीलामी, भारतीय (cid:303)रज़व(cid:330) ब(cid:339)क, मुंबई काया(cid:330)लय, फोट(cid:330), मुंबई (cid:554)ारा 26
िदसंबर, 2025 (शु(cid:354)वार) को संचािलत की जाएगी।
2. (cid:366)ितभूितयो ं की िब(cid:354)ी की अिधसूिचत रािश के 5 (cid:366)ितशत तक की रािश सरकारी (cid:366)ितभूितयो ं की नीलामी म(cid:336)
अ(cid:366)ित(cid:729)ध(cid:334) बोली सुिवधा योजना के अनुसार पा(cid:361) (cid:826) य(cid:304)(cid:389)यो ंऔर सं(cid:725)ाओ ं को आवंिटत की जाएगी।
3. नीलामी हेतु (cid:366)ित(cid:729)ध(cid:334) और अ(cid:366)ित(cid:729)ध(cid:334) दोनो ं बोिलयां भारतीय (cid:303)रज़व(cid:330) ब(cid:339)क कोर ब(cid:339)िकं ग सो(cid:670)ूशन (ई-कु बेर
(cid:366)णाली) पर इले(cid:387)(cid:332)ॉिनक (cid:366)प(cid:361) म(cid:336) 26 िदसंबर, 2025 को (cid:366)(cid:721)ुत की जानी चािहए। अ(cid:366)ित(cid:729)ध(cid:334) बोिलयां पूवा(cid:330)(cid:741)
10:30 बजे से पूवा(cid:330)(cid:741) 11:00 बजे के बीच और (cid:366)ित(cid:729)ध(cid:334) बोिलयां पूवा(cid:330)(cid:741) 10:30 बजे से पूवा(cid:330)(cid:741) 11:30 बजे
के बीच (cid:366)(cid:721)ुत की जानी चािहए।
4. नीलामी के प(cid:303)रणाम की घोषणा 26 िदसंबर, 2025 (शु(cid:354)वार) को की जाएगी और सफल बोलीदाताओ ं
(cid:554)ारा भुगतान 29 िदसंबर, 2025 (सोमवार) को िकया जाएगा।
5. ये (cid:366)ितभूितयां भारतीय (cid:303)रज़व(cid:330) ब(cid:339)क (cid:554)ारा उनके समय समय पर यथा संशोिधत प(cid:303)रप(cid:361)
िदनांक 24 जुलाई, 2018 के सं. आरबीआई/2018-19/25, तहत जारी “के (cid:802) (cid:363) सरकार की (cid:366)ितभूितयो ं म(cid:336) जब
िनग(cid:330)िमत लेन-देन” संबंधी िदशािनद(cid:337)शो ंके अनुसार “जब िनग(cid:330)िमत” कारोबार के िलए पा(cid:361) होगं ी।
भारत सरकार
िव(cid:517) म(cid:361)ांलय
आिथ(cid:330)क काय(cid:330) िवभाग
बजट (cid:366)भाग, कत(cid:330)(cid:681) भवन-1
नई िद(cid:671)ी -110001
िदनांक: 22 िदसंबर, 2025