RBI · Government of India ·

Underwriting Auction for sale of Government Securities for ₹33,000 crore on October 23, 2026

Distilled Policy Brief

  • The Government of India announced an underwriting auction for the sale of Government Securities worth Rs 33,000 crore, scheduled for October 23, 2026.
  • The auction will follow a multiple price-based method, with Primary Dealers submitting bids electronically through the Reserve Bank of India's e-Kuber system.
  • Underwriting commitments and commissions are governed by the extant scheme notified on November 14, 2007, involving Minimum Underwriting Commitment and Additional Competitive Underwriting.

🎯 Prelims High-Yield Examination Points

The underwriting auction for Government Securities is conducted using the multiple price-based method via the RBI's e-Kuber core banking solution.

⚖️ Mains Analytical & Syllabus Linkages

Understanding government borrowing operations, the role of Primary Dealers in managing sovereign debt issuance, and monetary-fiscal coordination.

🎯 UPSC Prelims Practice Drill

Economy

With reference to the underwriting auction for the sale of Government Securities in India, consider the following statements: 1. The underwriting auction is conducted using a uniform price-based method. 2. Primary Dealers submit their bids electronically through the Reserve Bank of India's e-Kuber system. 3. The underwriting commitments and commissions are governed by the extant scheme notified on November 14, 2007. Which of the statements given above are correct?

  • [A] 1 and 2 only
  • [B] 2 and 3 only
  • [C] 1 and 3 only
  • [D] 1, 2 and 3
▶ Reveal Official Answer & Analytical Explanation
✓ Correct Option: [B] 2 and 3 only

Statement 1 is incorrect because the underwriting auction is conducted through a multiple price-based method, not a uniform price-based method. Statement 2 is correct as Primary Dealers submit their bids electronically through the RBI's e-Kuber system. Statement 3 is also correct since the underwriting commitments and commissions are governed by the scheme notified on November 14, 2007.

Tark High-Yield Question Bank ⚡ Practice Full Test in Testing Arena ↗

🏛️ Historical Twin PYQ Anchor (2021)

UPSC Prelims 2021

Consider the following statements regarding the "National Clean Air Programme (NCAP)": 1. It is implemented by the Ministry of Environment, Forest and Climate Change. 2. Central Pollution Control Board acts as the sole regulatory executive body.

Forensic Anchor: Cabinet Allocation of Business Rules & NCAP Framework
Examiner Trap Takeaway: UPSC swapped Central Pollution Control Board role with State Pollution Control Boards for state-level monitoring.

📚 Static Syllabus & Constitutional Linkages

Government Securities (G-Secs): Indian Economy by Ramesh Singh or NCERT macroeconomics focusing on government borrowings and fiscal deficit financing.
Open Market Operations and RBI as Debt Manager: Indian Polity by M. Laxmikanth or standard monetary economics textbooks detailing the RBI's role as banker to the government.