Economy
Government Switches ₹20,000 Crore Debt Into Five Longer-Dated Securities
The government will exchange ₹20,000 crore of shorter-maturity securities for five longer-dated bonds through an October 19 auction.
What happened
The Government of India will conduct a ₹20,000 crore securities switch auction on October 19, 2026. Investors can exchange six source securities maturing between 2027 and 2029 for five destination securities maturing between 2033 and 2060. Bids must be submitted through the RBI’s e-Kuber platform between 10:30 and 11:30 a.m.; settlement is scheduled for October 21.
Why it matters
The transaction replaces near-term government maturities with longer-dated bonds, while giving holders a defined auction route to exchange eligible securities.
Source: RBI