Image Source: Outlook Business
The Reserve Bank of India has announced a conversion/switch auction of Government of India securities worth ₹20,000 crore (face value) on March 09, 2026. The auction will be conducted via the e-Kuber platform, with settlement scheduled for March 10, 2026.
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The Government of India, through the Reserve Bank of India, has unveiled plans to conduct a conversion/switch auction of securities totaling ₹20,000 crore. This strategic move aims to manage debt maturity profiles and enhance liquidity in the bond market.
Key Highlights
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Auction date is set for March 09, 2026, between 10:30 AM and 11:30 AM on the e-Kuber platform
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Aggregate notified amount is ₹20,000 crore across multiple source securities maturing in 2026–2027
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Destination securities include longer-tenure bonds such as 7.50% GS 2034, 8.32% GS 2032, 6.57% GS 2033, 7.62% GS 2039, and 7.40% GS 2062
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Minimum bid size is ₹10,000, with bids required in multiples of ₹10,000 thereafter
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Auction will follow a multiple-price format, with successful bids accepted at respective quoted prices
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Settlement will take place on March 10, 2026, on a T+1 basis
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Government reserves the right to accept less than the notified amount or marginally higher due to rounding-off effects
This auction is expected to provide market participants with opportunities to realign portfolios while supporting the government’s debt management strategy.
Source: Reserve Bank of India, Press Release
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