RBI announces underwriting auction for sale of Government Securities worth 29,000 crore

The Reserve Bank of India (RBI) announced the underwriting auction for the sale (re-issue) of Government Securities worth ₹29,000 crore. The auction includes the re-issuance of ₹17,000 crore of 6.68% Government Security 2040 and ₹12,000 crore of 7.43% Government Security 2076. Under the underwriting framework, each Primary Dealer (PD) will have a minimum underwriting commitment of ₹405 crore and ₹286 crore, respectively, for the two securities, with equivalent minimum underwriting commitments (MUC) under the Additional Competitive Underwriting (ACU) auction. The underwriting auction will be conducted through a multiple price-based method via RBIs e-Kuber system tomorrow morning.