On September 18, 2025, the Reserve Bank of India (RBI) announced an underwriting auction for the sale/reissue of Government Securities totaling ₹36,000 crore on September 19, 2025. The auction will be conducted via a multiple price-based method.
The Government Securities being offered are:
* 5.91 GS 2028 for ₹6,000 crore
* 6.33 GS 2035 for ₹30,000 crore.
Minimum Underwriting Commitment (MUC) and minimum bidding commitment under Additional Competitive Underwriting (ACU) auction per Primary Dealer (PD) are:
* ₹143 crore for 5.91 GS 2028
* ₹715 crore for 6.33 GS 2035
PDs can submit bids for the ACU auction electronically through the Core Banking Solution (E-Kuber System) between 09:00 A.M. and 09:30 A.M. on September 19, 2025. The underwriting commission will be credited to the PDs' current accounts with RBI on the day of the security issuance.
For further information, contact the Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001, email: helpdocrbi.org.in, Phone: 022 2266 0502. Website: www.rbi.org.in.
Key Entities Referenced
Government Securities: Securities issued by the Government of India.
Primary Dealer (PD): Financial institutions authorized to underwrite and deal in government securities.
Reserve Bank of India (RBI): The central bank of India, responsible for conducting the underwriting auction.
Underwriting Auction: Auction for underwriting the sale of Government Securities.
Scheme of Underwriting Commitment (November 14, 2007): The existing framework that governs the underwriting commitment process.
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
September 18, 2025
Underwriting Auction for sale of Government Securities for ₹36,000 crore
on September 19, 2025
Government of India has announced the sale (re-issue) of Government Securities, as
detailed below, through auctions to be held on September 19, 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
September 19, 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: 2025-2026/1117 Deputy General Manager
(Communications)