**Summary:**
On July 24, 2025, the Reserve Bank of India (RBI) announced an underwriting auction for the sale/reissue of Government Securities totaling ₹36,000 crore on July 25, 2025. The auction pertains to two Government Securities: ₹6,000 crore of 5.91 GS 2028 and ₹30,000 crore of 6.33 GS 2035. The underwriting auction will be conducted through a multiple price-based method. Primary Dealers (PDs) can submit bids for the Additional Competitive Underwriting (ACU) auction electronically via the e-Kuber system between 09:00 A.M. and 09:30 A.M. on July 25, 2025. The Minimum Underwriting Commitment (MUC) and minimum bidding commitment per PD under the ACU auction are ₹143 crore for 5.91 GS 2028 and ₹715 crore for 6.33 GS 2035. The underwriting commission will be credited to the current accounts of the respective PDs with RBI on the day of issue of the securities. Contact the Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001 or email helpdocrbi.org.in or phone 022-2266 0502 for further information. The press release number is 2025-2026/774.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Government of India: The Union Government established by the Constitution of India
Mumbai, Maharashtra: City in India where the Reserve Bank of India's central office is located.
Government Securities: Debt instruments issued by the Government of India to raise funds.
Primary Dealer: Financial institutions authorized to underwrite and trade in government securities.
Core Banking Solution EKuber System: Electronic platform used by Primary Dealers to submit bids for ACU auction.
5.91 GS 2028: Government Security maturing in 2028 with a coupon rate of 5.91%.
6.33 GS 2035: Government Security maturing in 2035 with a coupon rate of 6.33%.
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
July 24, 2025
Underwriting Auction for sale of Government Securities for ₹36,000 crore
on July 25, 2025
Government of India has announced the sale (re-issue) of Government Securities,
as detailed below, through auctions to be held on July 25, 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
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
July 25, 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: 2025-2026/774 Deputy General Manager
(Communications)