The Government of India 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. The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on January 02, 2026 (Friday). The government has the option to retain an additional subscription of up to ₹2,000 crore. Up to 5% of the notified amount will be allotted to eligible individuals/institutions per the Scheme for Non-Competitive Bidding Facility. Bids must be submitted electronically via the Reserve Bank of India Core Banking Solution (E-Kuber system) on January 02, 2026. 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 January 02, 2026 (Friday), and payment by successful bidders is due on January 05, 2026 (Monday). The security is eligible for "When Issued" trading per RBI circular No. RBI/2018-19/25 dated July 24, 2018. The issuing body is the Government of India, Ministry of Finance, Department of Economic Affairs, Budget Division, Kartavya Bhawan-1, New Delhi - 110001, dated December 29, 2025.
Key Entities Referenced
6.48% Government Security 2035: The government security being re-issued and auctioned.
Reserve Bank of India: The entity conducting the auction of the government security.
Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities: A scheme that allows certain individuals and institutions to bid for a portion of the security.
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 January 02,
2026 (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 January 02, 2026. 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 January 02, 2026 (Friday) and
payment by successful bidders will be on January 05, 2026 (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 BHAWAN-1, NEW DELHI - 110001
Dated: December 29, 2025