On November 13, 2025, the Reserve Bank of India (RBI) announced an underwriting auction for the sale (re-issue) of Government Securities worth ₹28,000 crore on November 14, 2025 (Friday). The auction is conducted through 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 the day of underwriting auction.
The amounts of Minimum Underwriting Commitment (MUC) and minimum bidding commitment per PD under ACU auction for each security are as follows:
* 6.68% GS 2040: Notified Amount - 16,000 crore, MUC amount per PD - 381 crore, Minimum bidding commitment per PD under ACU auction - 381 crore.
* 6.90% GS 2065: Notified Amount - 12,000 crore, MUC amount per PD - 286 crore, Minimum bidding commitment per PD under ACU auction - 286 crore.
The underwriting commission will be credited to the current account of the respective PDs with RBI on the day of issue of securities.
The press release number is 2025-2026/1496. Contact Ajit Prasad, Deputy General Manager (Communications). RBI's website is www.rbi.org.in and email is helpdoc@rbi.org.in. Phone: 022 - 2266 0502.
Key Entities Referenced
Reserve Bank of India: Central bank responsible for conducting the underwriting auction.
Government Securities: The financial instruments being auctioned.
Primary Dealer (PD): Entities eligible to participate in the underwriting auction.
Minimum Underwriting Commitment (MUC): The minimum commitment amount for the underwriting auction.
Additional Competitive Underwriting (ACU): Auction mechanism which defines minimum bidding commitment.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
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
November 13, 2025
Underwriting Auction for sale of Government Securities for ₹28,000 crore
on November 14, 2025
Government of India has announced the sale (re-issue) of Government Securities, as
detailed below, through auction to be held on November 14, 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 per
Security commitment per PD
Amount 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
November 14, 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: 2025-2026/1496 Deputy General Manager
(Communications)