The Government of India (GoI) has announced the sale (re-issue) of “6.48% Government Security 2035” for a notified amount of ₹32,000 crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to ₹2,000 crore against the security mentioned above. The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on January 02, 2026 (Friday).

Up to 5% of the notified amount of the sale of the security will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber system) on January 02, 2026. The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m.

The result of the auction will be announced on January 02, 2026 (Friday) and payment by successful bidders will be on January 05, 2026 (Monday).

The Security will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

6.48% Government Security 2035 auction announced: price-based multiple-price sale, non-competitive facility, RBI-managed electronic bids. Re-issue of the 6.48% Government Security 2035: Rs.32,000 crore notified (option to retain Rs.2,000 crore) to be auctioned by RBI (Mumbai) on January 2, 2026 via price-based multiple price method; payment due January 5, 2026. Bids to be submitted electronically on E-Kuber with non-competitive bids between 10:30-11:00 a.m. and competitive bids between 10:30-11:30 a.m. Up to 5% allotted under the Non-Competitive Bidding Facility. Security eligible for When Issued trading under RBI guidelines.