Government to Switch ₹30,000 Crore Securities via Auction on June 15

The Government of India has announced a concludes conversion or switch of its securities worth ₹30,000 crore through an auction scheduled for June 15, 2026. The process will involve replacing short-term securities with longer-term ones to manage debt maturity profiles effectively.

The auction will be conducted on the Reserve Bank of India’s e-Kuber platform between 10:30 AM and 11:30 AM. Participants are required to submit bids specifying the face value and prices of both source and destination securities. The auction will follow a multiple-price format, where successful bids are accepted at quoted prices.

Key securities involved include 6.79% GS 2027, 8.60% GS 2028, and 7.88% GS 2030, which will be switched for longer-term securities such as 7.50% GS 2034 and 6.64% GS 2035. The settlement of the auction will occur on June 16, 2026, on a T+1 basis.

This initiative is part of the government’s strategy to manage its debt portfolio by extending the maturity of its liabilities. The operational guidelines for the switch transactions have been detailed in the RBI’s release, ensuring transparency and clarity for market participants.

The government retains the right to accept or reject bids partially or wholly, and to adjust the notified amount marginally due to rounding-off effects. Participants facing technical issues can contact the RBI’s help desk for assistance.