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( As on 11/06/2026 11:22)

Government to conduct Rs 30,000 crore G-Sec Switch Auction on June 15

The Government of India has announced a securities conversion (switch) auction worth Rs 30,000 crore, scheduled for June 15, 2026, as part of its debt management strategy to smoothen the government securities (G-Sec) redemption profile.

Under the switch operation, investors holding selected shorter-maturity government bonds maturing between 2027 and 2030 will have the opportunity to exchange them for longer-dated securities maturing between 2034 and 2039. The move is aimed at reducing near-term redemption pressures while extending the maturity profile of government debt.

The auction will cover eight source securities with a cumulative face value of ?30,000 crore, including bonds maturing in 2027, 2028, 2029, and 2030. These will be switched into various destination securities maturing in 2034, 2035, and 2039.

Market participants will be required to submit bids electronically through the RBI's e-Kuber platform between 10:30 AM and 11:30 AM on June 15. The auction will follow a multiple-price format, where successful bidders will receive allocations at their quoted prices. Results will be declared on the same day, with settlement scheduled for June 16, 2026.

The government retains the flexibility to accept bids below the notified amount, purchase marginally higher amounts due to rounding adjustments, or reject any bids in full or in part without providing a reason.

The switch auction is expected to help manage refinancing risks and improve the overall maturity structure of the government's borrowing programme.