|
The Reserve Bank of India (RBI) on Thursday announced the underwriting auction for the sale of government securities worth Rs 28,000 crore, scheduled to be held on July 24, with Primary Dealers required to bid under the Additional Competitive Underwriting (ACU) mechanism.
In a press release, the RBI said, "Government of India has announced the sale (issue/re-issue) of Government Securities... through auction to be held on July 24, 2026 (Friday)." The central bank said the auction will cover two securities - a new Government Security maturing in 2041 with a notified amount of Rs 17,000 crore and the 7.43 per cent Government Security maturing in 2076 with a notified amount of Rs 11,000 crore. According to the RBI, under the existing underwriting commitment scheme notified on November 14, 2007, the Minimum Underwriting Commitment (MUC) for each Primary Dealer has been fixed at Rs 405 crore for the new GS 2041 and Rs 262 crore for the 7.43 per cent GS 2076. The minimum bidding commitment under the ACU auction has also been set at Rs 405 crore and Rs 262 crore, respectively. The RBI said, "The underwriting auction will be conducted through multiple price-based method on July 24, 2026 (Friday)." It added that Primary Dealers may submit their bids electronically through the RBI's Core Banking Solution (e-Kuber system) between 09:00 AM and 09:30 AM on the day of the underwriting auction. The central bank further said, "The underwriting commission will be credited to the current account of the respective PDs with RBI on the day of issue of securities." (ANI)
|
