Auction for ₹34 Billion in Government Securities Scheduled
The Indian government plans to auction ₹34 billion worth of government securities on September 25, adhering to the existing underwriting commitment scheme since November 14, 2007. This event highlights the country's continuous efforts to manage its fiscal needs and maintain market expectations.
On September 25, the Indian government is set to conduct an auction to sell (re-issue) government securities worth ₹34 billion. This sale will be carried out under the existing scheme of underwriting commitment notified on November 14, 2007. Each Primary Dealer (PD) will face a minimum underwriting commitment (Minimum Underwriting Commitment - MUC) and a minimum bidding commitment for Additional Competitive Underwriting (ACU). Bids for ACU will be submitted electronically through the Reserve Bank of India’s e-Kuber system between 9:00 A.M. and 9:30 A.M. on the day of the auction. The underwriting commission will be credited to the current accounts of respective PDs with RBI upon the issuance of the security. This event aligns with the government's ongoing commitment to balance its financing needs with market expectations in both domestic and global financial markets.
Source: Reserve Bank of India