The Government of India (Gol) has announced the sale (re-issue) of "6.48% Government Security 2035" for ₹32,000 crore (nominal) through a price-based auction using a multiple price method. Gol has the option to retain additional subscription up to ₹2,000 crore. The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on November 07, 2025 (Friday). Up to 5% of the notified amount will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility. Both competitive and non-competitive bids should be submitted electronically via the Reserve Bank of India Core Banking Solution (E-Kuber system) on November 07, 2025. Non-competitive bids must be submitted between 10:30 a.m. and 11:00 a.m., and competitive bids between 10:30 a.m. and 11:30 a.m. The auction results will be announced on November 07, 2025 (Friday), with payment due on November 10, 2025 (Monday). The Security is eligible for “When Issued” trading per RBI circular No. RBI/2018-19/25 dated July 24, 2018. This announcement is from the Government of India, Ministry of Finance, Department of Economic Affairs, Budget Division, Kartavya Bhavan-1, New Delhi - 110001, dated November 03, 2025.
Key Entities Referenced
6.48% Government Security 2035: Sovereign bond being re-issued by the Government of India
Reserve Bank of India: Conducts the auction of the Government Security
Mumbai: Location where the auction is conducted by the Reserve Bank of India
Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities: Scheme allowing individuals and institutions to participate in the auction of Government Securities
PRESS COMMUNIQUE
Government of India (GoI) has announced the sale (re-issue) of “6.48% Government
Security 2035” for a notified amount of ₹32,000 crore (nominal) through price based
auction using multiple price method. GoI will have the option to retain additional
subscription up to ₹2,000 crore against the security mentioned above. The auction will be
conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on November 07,
2025 (Friday).
2. Up to 5% of the notified amount of the sale of the security will be allotted to eligible
individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the
Auction of Government Securities.
3. Both competitive and non-competitive bids for the auction should be submitted in
electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber system)
on November 07, 2025. The non-competitive bids should be submitted between 10:30
a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m.
and 11:30 a.m.
4. The result of the auction will be announced on November 07, 2025 (Friday) and
payment by successful bidders will be on November 10, 2025 (Monday).
5. The Security will be eligible for “When Issued” trading in accordance with the guidelines
on „When Issued transactions in Central Government Securities‟ issued by the Reserve
Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time
to time.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
BUDGET DIVISION
KARTAVYA BHAVAN-1, NEW DELHI - 110001
Dated: November 03, 2025