**Summary:**
On August 22, 2025, the Reserve Bank of India (RBI) will conduct an underwriting auction for the sale/re-issue of Government Securities (G-Secs) totaling ₹36,000 crore. This auction, announced by the Government of India, will be executed through a multiple price-based method.
The G-Secs being offered are:
* 5.91% GS 2028 for ₹6,000 crore. Minimum Underwriting Commitment (MUC) per Primary Dealer (PD) is ₹143 crore, with a minimum bidding commitment under Additional Competitive Underwriting (ACU) auction of ₹143 crore per PD.
* 6.33% GS 2035 for ₹30,000 crore. MUC per PD is ₹715 crore, with a minimum bidding commitment under ACU auction of ₹715 crore per PD.
Primary Dealers (PDs) can submit their bids for the ACU auction electronically via the e-Kuber system between 09:00 A.M. and 09:30 A.M. on August 22, 2025. The underwriting commission will be credited to the PDs' current accounts with the RBI on the day the securities are issued.
For further information, contact the Department of Communication, Central Office, Reserve Bank of India, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001. Phone: 022-2266 0502. Email: helpdoc@rbi.org.in. Website: www.rbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India.
Government of India: The Union Government of India.
Government Securities: Debt instruments issued by the Government of India.
Primary Dealer: Financial institutions authorized to underwrite and trade in government securities.
Minimum Underwriting Commitment (MUC): The minimum amount of government securities that a primary dealer is committed to underwrite.
Additional Competitive Underwriting (ACU): An auction process for underwriting government securities where primary dealers can bid for additional underwriting commitments.
Core Banking Solution (E-Kuber) System: The Reserve Bank of India's core banking system used for conducting auctions and other transactions.
Mumbai, Maharashtra: A city in Maharashtra where the central office of RBI is located.
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
August 21, 2025
Underwriting Auction for sale of Government Securities for ₹36,000 crore
on August 22, 2025
Government of India has announced the sale (re-issue) of Government Securities,
as detailed below, through auctions to be held on August 22, 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
Security commitment per PD
Amount per PD
under ACU auction
5.91% GS 2028 6,000 143 143
6.33% GS 2035 30,000 715 715
The underwriting auction will be conducted through multiple price-based method on
August 22, 2025 (Friday). PDs may submit their bids for ACU auction electronically
through 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: 2025-2026/946 Deputy General Manager
(Communications)