Government of India Announces ₹34,000 Crore Security Auction
The Government of India has scheduled the re-issue of a dated security, the 6.94% GS 2036, for a notified amount of ₹34,000 crore. The auction is set to take place on November 13, 2026, with settlement scheduled for November 16, 2026. In addition to the base amount, the government retains the option to accept an extra subscription of up to ₹2,000 crore.
The Reserve Bank of India will conduct the sale through its Mumbai office using a multiple price method. Bidders must submit their offers electronically via the e-Kuber system. The submission window for non-competitive bids is open from 10:30 a.m. to 11:00 a.m., while competitive bids may be submitted from 10:30 a.m. to 11:30 a.m. on the day of the auction. Primary Dealers are also eligible to submit bids for the Additional Competitive Underwriting portion between 9:00 a.m. and 9:30 a.m. on the same day.
The security, which matures on May 11, 2036, will be available for 'When Issued' trading between November 11 and November 13, 2026. The auction process adheres to the terms outlined in the specific notification dated November 9, 2026, and the general notification from March 26, 2025.
For financial professionals and institutional investors, these regular government auctions serve as a key indicator of sovereign debt appetite and liquidity conditions in the banking system. Monitoring the subscription levels and yield outcomes provides insight into broader market sentiment regarding long-term interest rates.
Why it matters
This auction provides critical data on government borrowing costs and market liquidity, which are essential benchmarks for institutional investors and the broader financial sector.
FAQ
What is the total notified amount for the auction?
The notified amount for the 6.94% GS 2036 security is ₹34,000 crore, with an option to retain an additional ₹2,000 crore.
When is the deadline for submitting competitive bids?
Competitive bids must be submitted electronically via the e-Kuber system on November 13, 2026, between 10:30 a.m. and 11:30 a.m.
Are the securities eligible for trading before the auction date?
Yes, the security is eligible for 'When Issued' trading from November 11, 2026, through November 13, 2026.
Source: RBI Press Releases. See the original source for full details.
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