Dikhyaa Mohanty 
The Reserve Bank of India will hold auctions in Mumbai on May 31 to sell government bonds valued at Rs 29,000 crore in three lots, according to a Monday announcement from the Finance Ministry. “New Government Security 2029” is included in the first lot, which was sold at a yield-based auction employing several price methods for a stated sum of 12,000 crore. While the third set of 7.34 per cent Government Security 2064 worth 11,000 crores will be auctioned through price based auction using multiple price technique, the second lot of “New GOI SGrB 2034” worth 6,000 crore will also be auctioned through a yield-based auction using multiple price method.
Up to 2,000 crore in additional subscriptions against each of the three securities may be retained by the government. According to the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities, qualifying persons and institutions will receive up to 5% of the notified amount of the securities auction.
On May 31, 2024, bids for the auction, both competitive and non-competitive, must be electronically filed via the Reserve Bank of India Core Banking Solution (E-Kuber) system. It is recommended that the competitive bids be filed between 10:30 and 11:30 a.m., and the non-competitive bids between 10:30 and 11:00 a.m. On Friday, May 31, 2024, the auction results will be revealed. Successful bidders will receive their money on Monday, June 3, 2024. In compliance with RBI standards, the Securities will be available for trading “When Issued.”
