RBI to Auction Rs 32,000 Crore Government Bonds on July 10: Key Details

The Reserve Bank of India (RBI) will conduct an auction of Government of India dated securities worth Rs 32,000 crore on Friday, July 10. The offering includes two re-issued government bonds, with retail investors also eligible to participate through the RBI Retail Direct platform.

Two government securities on offer

The auction comprises the re-issue of two government securities. The first is Rs 21,000 crore of the 6.36 per cent Government Security (GS) 2031, maturing on February 16, 2031, while the second is Rs 11,000 crore of the 7.71 per cent GS 2066, maturing on May 18, 2066.

The government has also retained the option to accept an additional subscription of up to Rs 2,000 crore against each of the two securities.

The auction will be conducted by the RBI's Mumbai Office using the multiple price method. Bids will be submitted electronically through the RBI's Core Banking Solution, or e-Kuber platform.

Bidding schedule and retail participation

Non-competitive bids will be accepted between 10:30 am and 11:00 am on July 10, while competitive bids can be submitted between 10:30 am and 11:30 am. Primary Dealers will be allowed to place bids for the Additional Competitive Underwriting portion between 9:00 am and 9:30 am on the same day.

The auction results will be declared on July 10 itself, while successful bidders will make payments on Monday, July 13, 2026.

The minimum bid amount has been fixed at Rs 10,000 and thereafter in multiples of Rs 10,000. Up to 5 per cent of the notified amount for each security has been reserved for non-competitive bidding by eligible individuals and institutions.

Retail investors can participate through the RBI Retail Direct portal. Allotments under the non-competitive segment will be made at the weighted average yield or price discovered through successful competitive bids.

Trading eligibility and RBI guidelines

The securities will be eligible for "When Issued" trading between July 7 and July 10. They will also qualify for repurchase (repo) transactions in accordance with RBI guidelines.

Interest on the securities will generally be paid on a half-yearly basis, with specific payment details outlined in the respective bond notifications.

The auction is being conducted under the general notification dated March 26, 2025. Investments by non-residents will remain subject to the Fully Accessible Route (FAR) guidelines.

The RBI said it reserves the right to accept or reject any or all bids, either wholly or partially, without assigning any reason.

(With inputs from ANI)