RBI schedules ₹25,000 crore bond sale auction for September 28
What happened
The Reserve Bank of India announced an Open Market Operation sale auction of government securities totaling ₹25,000 crore for September 28, 2026. The auction features six bonds with maturities between March 2029 and August 2032 and coupons ranging from 5.85% to 7.61%.
Why it matters
The open market sale allows the central bank to drain surplus liquidity from the banking system. The RBI has retained full operational discretion over allocations, with no per-security limits and the right to accept less than the ₹25,000 crore target or reject bids entirely.
Bigger picture
Open market bond sales provide central banks with a flexible mechanism to adjust system-wide liquidity and manage yield curve dynamics across short- to long-dated sovereign debt tenors without rigid security allocation commitments.
Watch next
The RBI will announce auction results on September 28, 2026, with successful bidders required to settle funds by 12:00 pm on September 29.