RBI To Hold Underwriting Auction For ₹34,000 Crore Government Securities On May 8

Mumbai: The Reserve Bank of India (RBI) will facilitate an underwriting auction for government securities worth ₹34,000 crore on May 8, 2026, as part of the Centre’s borrowing programme. The auction will focus on the newly issued “New GS 2036” security and will be conducted through the RBI’s e-Kuber platform.

According to ANI, the Government of India has announced the sale of the government security through an auction process scheduled for Friday. The RBI stated that the entire notified amount of the new security will be covered under the underwriting process. 

The underwriting auction will follow a multiple price-based method, allowing participants to place bids at different price levels. Under the existing underwriting commitment scheme notified in November 2007, the Reserve Bank has fixed the Minimum Underwriting Commitment (MUC) and minimum bidding commitment under the Additional Competitive Underwriting (ACU) auction for Primary Dealers. 

For the “New GS 2036” security, the RBI has fixed the Minimum Underwriting Commitment at ₹810 crore for each Primary Dealer. The same amount has also been set as the minimum bidding commitment under the ACU auction.

The central bank said Primary Dealers will be required to submit bids electronically through the RBI’s Core Banking Solution, popularly known as the e-Kuber system. The bidding window for the underwriting auction will remain open from 9:00 am to 9:30 am on the day of the auction. 

The RBI further clarified that the underwriting commission for participating dealers will be credited to their current accounts with the central bank on the date of issuance of the security.

The move forms part of the government’s broader borrowing strategy aimed at managing fiscal requirements and maintaining liquidity in the financial system. 

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