The Government of India has announced the sale of "6.48% Government Security 2035" for a notified amount of ₹32,000 crore through a price-based auction using a multiple price method. The government has the option to retain additional subscription up to ₹2,000 crore. The auction will be conducted by the Reserve Bank of India in Mumbai on January 30, 2026. Up to 5% of the notified amount will be allotted to eligible individuals and institutions 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 January 30, 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 30, 2026, with payment by successful bidders due on February 02, 2026. The security will be eligible for "When Issued" trading in accordance with RBI circular No. RBI/2018-19/25 dated July 24, 2018, as amended. The release is from the Ministry of Finance, Department of Economic Affairs, Budget Division, New Delhi, dated January 23, 2026.
Key Entities Referenced
6.48% Government Security 2035: Government security being re-issued
Reserve Bank of India: Conducts the auction for the government security.
Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities: Scheme governing the allotment of security to individuals and institutions
Ministry of Finance: The ministry under which the Department of Economic Affairs operates
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 30,
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 30, 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 30, 2026 (Friday) and
payment by successful bidders will be on February 02, 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: January 23, 2026