Government Sets ₹30,000 Crore G-Sec Conversion and Switch Auction for May 18
Why it matters
The Government of India is holding a ₹30,000 crore (face value) conversion and switch auction of its securities on May 18, 2026. Market participants will bid via the Reserve Bank of India's e-Kuber platform between 10:30 AM and 11:30 AM. The auction is a multiple-price based format, meaning successful bids will be accepted at their quoted prices. Source securities mature between May 2027 and March 2030, with destination securities extending maturity dates up to December 2039 and September 2060.
The price for source securities must match the FBIL closing price from the previous trading day. Settlement for successful transactions is scheduled for May 19, 2026, on a T+1 basis. This operation is designed to manage the government's debt maturity profile and extend the average tenor of outstanding debt.
- Auction Date: May 18, 2026
- Total Amount: ₹30,000 crore (Face Value)
- Bidding Platform: RBI e-Kuber (Switch Transaction module)
- Auction Type: Multiple-price based
- Settlement: May 19, 2026 (T+1)
Glossary
e-Kuber: The Reserve Bank of India's Core Banking Solution, used as a portal for government securities auctions and institutional banking.
NaukriSync Exam Angle
Indian Economy: Note the ₹30,000 crore G-Sec switch auction on May 18, 2026, conducted via e-Kuber. This is a key debt management tool. Expect MCQs on the purpose of 'switch operations' or the identity of RBI's G-Sec auction portal.