This is a press release from the Reserve Bank of India, dated October 20, 2025, regarding the results of a conversion/switch auction of Government of India Securities.
The auction involved switching from the following source securities to the respective destination securities:
* **8.15% GS 2026** to **7.50% GS 2034**: Notified amount ₹4,000 crore. 12 offers were received, with a total source security offer of ₹5,450.000 crore; 1 offer was accepted for a total source security accepted of ₹1,000 crore. The total amount of destination security issued was ₹960.846 crore, with a cut-off price/yield of 106.76/6.4777.
* **6.79% GS 2027** to **6.57% GS 2033**: Notified amount ₹5,000 crore. 54 offers were received, with a total source security offer of ₹12,064.159 crore; 11 offers were accepted for a total source security accepted of ₹3,615 crore. The total amount of destination security issued was ₹3,651.722 crore, with a cut-off price/yield of 100.58/6.4755.
* **8.26% GS 2027** to **7.34% GS 2064**: Notified amount ₹2,000 crore. 4 offers were received, with a total source security offer of ₹2,780.000 crore; 2 offers were accepted for a total source security accepted of ₹2,000 crore. The total amount of destination security issued was ₹2,038.322 crore, with a cut-off price/yield of 102.26/7.1665.
* **6.64% GS 2027** to **6.19% GS 2034**: Notified amount ₹3,000 crore. 12 offers were received, with a total source security offer of ₹3,583.900 crore; 0 offers were accepted for a total source security accepted of ₹0 crore. The total amount of destination security issued was ₹0 crore, with a cut-off price/yield of NA.
* **7.37% GS 2028** to **7.57% GS 2033**: Notified amount ₹5,000 crore. 18 offers were received, with a total source security offer of ₹11,555.000 crore; 5 offers were accepted for a total source security accepted of ₹5,000 crore. The total amount of destination security issued was ₹4,883.356 crore, with a cut-off price/yield of 106.64/6.4544.
The press release number is 2025-2026/1352. Ajit Prasad, Deputy General Manager (Communications), can be contacted for more information. The Department of Communication is located at Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001, and the phone number is 022 - 2266 0502. The website is www.rbi.org.in and the email is helpdoc@rbi.org.in.
Key Entities Referenced
Government of India Securities: Securities issued by the Government of India, subject of the conversion/switch auction.
Reserve Bank of India: The central bank of India, responsible for conducting the conversion/switch auction.