On December 11, 2025, the Reserve Bank of India (RBI) announced an underwriting auction for the sale (re-issue) of Government Securities worth ₹28,000 crore scheduled for December 12, 2025 (Friday). The auction will be conducted using a multiple price-based method. Primary Dealers (PDs) can submit bids for the Additional Competitive Underwriting (ACU) auction electronically through the Reserve Bank of India Core Banking Solution (e-Kuber system) between 09:00 A.M. and 09:30 A.M. on December 12, 2025.
The amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) auction, applicable to each Primary Dealer (PD) are as follows:
| Securities | Notified Amount | MUC amount per PD | Minimum bidding commitment per PD under ACU auction |
|---------------|-----------------|-------------------|-----------------------------------------------------|
| 6.68% GS 2040 | 16,000 | 381 | 381 |
| 6.90% GS 2065 | 12,000 | 286 | 286 |
The underwriting commission will be credited to the current account of the respective PDs with RBI on the day of issue of securities. For further information, contact Ajit Prasad, Deputy General Manager (Communications). Press Release number: 2025-2026/1678. The RBI website is www.rbi.org.in, and the email address is helpdoc@rbi.org.in.
Key Entities Referenced
Government Securities: Securities being sold/re-issued through underwriting auction.
Underwriting Auction: Auction mechanism for sale of Government Securities.
Reserve Bank of India Core Banking Solution (e-Kuber system): Electronic platform used for the auction.
Reserve Bank of India: Regulator overseeing the auction.
Primary Dealer (PD): Entities eligible to participate in the auction.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
December 11, 2025
Underwriting Auction for sale of Government Securities for ₹28,000 crore
on December 12, 2025
Government of India has announced the sale (re-issue) of Government Securities, as
detailed below, through auction to be held on December 12, 2025 (Friday).
As per the extant scheme of underwriting commitment notified on November 14, 2007,
the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding
commitment under Additional Competitive Underwriting (ACU) auction, applicable to each
Primary Dealer (PD), are as under:
(₹ crore)
Minimum bidding
Notified MUC amount
Securities commitment per PD
Amount per PD
under ACU auction
6.68% GS 2040 16,000 381 381
6.90% GS 2065 12,000 286 286
The underwriting auction will be conducted through multiple price-based method on
December 12, 2025 (Friday). PDs may submit their bids for ACU auction electronically
through the Reserve Bank of India Core Banking Solution (e-Kuber system) between
09:00 A.M. and 09:30 A.M. on the day of underwriting auction.
The underwriting commission will be credited to the current account of the respective
PDs with RBI on the day of issue of securities.
Ajit Prasad
Press Release: 2025-2026/1678 Deputy General Manager
(Communications)