The Reserve Bank of India will conduct an auction for government bonds worth Rs 32,000 crore on January 2. The auction is for the re-issue of a 6.48% Government Security maturing in 2035. The government has the option to retain an additional Rs 2,000 crore. The process involves both competitive and non-competitive bidding through the RBI's E-Kuber system, with results announced the same day and payment on January 5. This move aims to finance public spending and cover budget deficits.