The Government of India announced the re-issue of a dated security worth ₹34,000 crore, scheduled for auction on October 16, 2026. The security carries a coupon rate of 6.94% and matures on May 11, 2036. The auction will be conducted by the Reserve Bank of India (RBI) through its Mumbai office, with settlement set for October 19, 2026, according to the RBI press release.
The auction will use a multiple price method, allowing both competitive and non-competitive bids to be submitted electronically via the RBI’s e-Kuber system. Non-competitive bids will be accepted from 10:30 a.m. to 11:00 a.m., while competitive bids can be placed between 10:30 a.m. and 11:30 a.m. on the auction day. The government also retains the option to accept an additional subscription of up to ₹2,000 crore against this security, as outlined in the official notification.
This auction is part of the government’s regular borrowing program to meet fiscal requirements and manage debt maturities. The 6.94% GS 2036 security is a long-term instrument, reflecting the government’s strategy to lock in borrowing costs over an extended period. Such auctions are closely monitored by market participants as indicators of government borrowing costs and liquidity conditions in the debt market.
The auction result will be announced on October 16, 2026, with successful bidders required to make payments by October 19, 2026. The RBI Mumbai office will oversee the transaction, ensuring compliance with the terms set out in the specific and general notifications governing the sale.