{
  "id": 19499723,
  "title": "Conversion/Switch of Government of India Securities",
  "url": "https://urgent.news/2026/11/11/conversion-switch-of-government-of-india-securities",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T13:26:51.000Z",
  "source": {
    "name": "Reserve Bank of India",
    "slug": "reserve-bank-of-india",
    "url": "https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63958"
  },
  "original_language": "en",
  "account": "The Government of India has announced plans to convert or switch a total of ₹25,000 crore (face value) worth of securities through an auction. This conversion will take place on November 16, 2026 (Monday), with the auction details provided as follows:\n\n1. The auction will cover various types of securities with different maturity dates, ranging from 2027 to 2036.\n2. Market participants must submit their bids electronically through the Reserve Bank of India's Core Banking Solution (e-Kuber) platform by 11:30 AM on the auction day.\n3. Bids should include the amount of the source security (face value) the participant is willing to sell, the price of the source security, and the choice of destination security with its respective price.\n4. The auction will be a multiple-price based, meaning successful bids will be accepted at their quoted prices for both the source and destination securities.\n5. The auction cut-off will be determined based on the price of the destination security/ies.\n6. Successful bidders will receive the destination security at the quoted price, while the Government of India will purchase the source securities at the quoted prices.\n7. In case there are multiple bids at the cut-off price, pro-rata allotment will be provided.\n8. The destination security amount for each successful bid will be calculated by multiplying the allotted source security face value with the rounded-off switch ratio (source price/destination price).\n9. The amount of destination securities will be rounded-off to the nearest lower multiple of ₹10,000.\n10. Any odd amounts (less than ₹10,000) will be notionally allotted and bought back from the bidders at the quoted bid price, with no net cash consideration for such odd amounts.\n11. The fund settlement for each bid will include the net accrued interest difference between the source and destination securities, along with any cash consideration computed due to rounding-off of the destination security face value.\n\nAll bidding and auction procedures are outlined in the provided operational guidelines document.",
  "summary": "Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹25,000 crore (face value). The security-wise details of the conversion/switch are given as under: Date of Auction Source Securities Amount (FV) of Source Securities (in ₹ crore) Destination Securities November 16, 2026 (Monday) 7.38% GS 2027 (Maturing on Jun 20, 2027) 5,000 7.18% GS…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}