New Delhi, May 14 -- The Government of India has announced an auction-based switch of government securities worth Rs 30,000 crore in face value as part of its debt management strategy.

Rs 30,000 Crore Securities Switch Auction Announced

According to the notification, market participants will be required to submit bids through the Reserve Bank of India's Core Banking Solution platform, e-Kuber, by specifying the amount of source securities they intend to sell along with the quoted prices of both source and destination securities.

The auction will follow a multiple-price format, meaning successful bidders will receive allotments at their respective quoted prices for both source and destination securities.

Bidding To Be Conducted Through...