The Government of India has announced the sale of (i) "5.91% Government Security 2028" for ₹6,000 crore and (ii) "6.33% Government Security 2035" for ₹30,000 crore through price-based auction using multiple price method. RBI, Mumbai Office will conduct the auctions on September 19, 2025 (Friday). GoI will have the option to retain additional subscription up to ₹2,000 crore against each security. Up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions. Bids should be submitted electronically on the RBI Core Banking Solution (E-Kuber system) on September 19, 2025. Non-competitive bids should 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 September 19, 2025 (Friday), and payment will be due on September 22, 2025 (Monday). The securities will be eligible for “When Issued” trading according to RBI circular No. RBI/2018-19/25 dated July 24, 2018. This announcement comes from the Ministry of Finance, Department of Economic Affairs, Budget Division, North Block, New Delhi - 110001, dated September 15, 2025.
Key Entities Referenced
Reserve Bank of India: Conducts the auctions for the Government Securities.
5.91% Government Security 2028: Government security being re-issued.
6.33% Government Security 2035: Government security being re-issued.
Scheme for Non-Competitive Bidding Facility: Scheme allotting securities to individuals and institutions.
Ministry of Finance: The ministry under which the press release is issued.
PRESS COMMUNIQUE
Government of India (GoI) has announced the sale (re-issue) of (i) “5.91%
Government Security 2028” for a notified amount of ₹6,000 crore (nominal) through
price based auction using multiple price method and (ii) “6.33% Government
Security 2035” for a notified amount of ₹30,000 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 each security mentioned above. The auctions
will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on
September 19, 2025 (Friday).
2. Up to 5% of the notified amount of the sale of the securities 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 September 19, 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 auctions will be announced on September 19, 2025 (Friday) and
payment by successful bidders will be on September 22, 2025 (Monday).
5. The Securities 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
NORTH BLOCK, NEW DELHI - 110001
Dated: September 15, 2025