In order to enable institutional and retail investors to plan their investments efficiently and to provide transparency and stability to the Government Securities Market, the Reserve Bank of India, in consultation with the Government of India, hereby, notifies the indicative calendar for issuance of Government dated securities, including Sovereign Green Bonds (SGrB), for the first half of the fiscal year 2024-25 (April 01, 2024 to September 30, 2024). Based on market feedback and in line with global market practices, it has been decided to introduce a new dated security of 15-year tenor. The issuance calendar is as under: | Calendar for Issuance of Government of India Dated Securities | | (April 01, 2024 to September 30, 2024) | | Sr. No. | Auction Week | Amount in
(₹ Crore) | Security-wise Allocation | | 1 | April 01-05, 2024 | 38,000 | i) 3 Year for ₹6,000 crore | | ii) 10 Year for ₹20,000 crore | | iii) 40 Year for ₹12,000 crore | | 2 | April 08-12, 2024 | 30,000 | i) 7 Year for ₹11,000 crore | | ii) 15 Year for ₹10,000 crore | | iii) 30 Year for ₹9,000 crore | | 3 | April 15-19, 2024 | 24,000 | i) 5 Year for ₹12,000 crore | | ii) 40 Year for ₹12,000 crore | | 4 | April 22-26, 2024 | 32,000 | i) 10 Year for ₹20,000 crore | | ii) 50 Year for ₹12,000 crore | | 5 | April 29 - May 03, 2024 | 28,000 | i) 3 Year for ₹6,000 crore | | ii) 15 Year for ₹10,000 crore | | iii) 40 Year for ₹12,000 crore | | 6 | May 06-10, 2024 | 20,000 | i) 7 Year for ₹11,000 crore | | ii) 30 Year for ₹9,000 crore | | 7 | May 13-17, 2024 | 31,000 | i) 10 Year for ₹20,000 crore | | ii) 40 Year for ₹11,000 crore | | 8 | May 20-24, 2024 | 29,000 | i) 3 Year for ₹6,000 crore | | ii) 15 Year for ₹12,000 crore | | iii) 50 Year for ₹11,000 crore | | 9 | May 27 - May 31, 2024 | 29,000 | i) 5 Year for ₹12,000 crore | | ii) 10 Year SGrB for ₹6,000 crore | | iii) 40 Year for ₹11,000 crore | | 10 | June 03-07, 2024 | 29,000 | i) 10 Year for ₹20,000 crore | | ii) 30 Year for ₹9,000 crore | | 11 | June 10-14, 2024 | 34,000 | i) 7 Year for ₹11,000 crore | | ii) 15 Year for ₹12,000 crore | | iii) 40 Year for ₹11,000 crore | | 12 | June 17-21, 2024 | 23,000 | i) 5 Year for ₹12,000 crore | | ii) 50 Year for ₹11,000 crore | | 13 | June 24-28, 2024 | 31,000 | i) 10 Year for ₹20,000 crore | | ii) 40 Year for ₹11,000 crore | | 14 | July 01-05, 2024 | 28,000 | i) 3 Year for ₹6,000 crore | | ii) 15 Year for ₹12,000 crore | | iii) 30 Year for ₹10,000 crore | | 15 | July 08-12, 2024 | 22,000 | i) 7 Year for ₹11,000 crore | | ii) 40 Year for ₹11,000 crore | | 16 | July 15-19, 2024 | 31,000 | i) 10 Year for ₹20,000 crore | | ii) 50 Year for ₹11,000 crore | | 17 | July 22-26, 2024 | 35,000 | i) 5 Year for ₹12,000 crore | | ii) 15 Year for ₹12,000 crore | | iii) 40 Year for ₹11,000 crore | | 18 | July 29 - August 02, 2024 | 22,000 | i) 3 Year for ₹6,000 crore | | ii) 10 Year SGrB for ₹6,000 crore | | iii) 30 Year for ₹10,000 crore | | 19 | August 05-09, 2024 | 31,000 | i) 10 Year for ₹20,000 crore | | ii) 40 Year for ₹11,000 crore | | 20 | August 12-16, 2024 | 34,000 | i) 7 Year for ₹11,000 crore | | ii) 15 Year for ₹12,000 crore | | iii) 50 Year for ₹11,000 crore | | 21 | August 19-23, 2024 | 23,000 | i) 5 Year for ₹12,000 crore | | ii) 40 Year for ₹11,000 crore | | 22 | August 26-30, 2024 | 30,000 | i) 10 Year for ₹20,000 crore | | ii) 30 Year for ₹10,000 crore | | 23 | September 02-06, 2024 | 29,000 | i) 3 Year for ₹6,000 crore | | ii) 15 Year for ₹12,000 crore | | iii) 40 Year for ₹11,000 crore | | 24 | September 09-13, 2024 | 22,000 | i) 7 Year for ₹11,000 crore | | ii) 50 Year for ₹11,000 crore | | 25 | September 16-20, 2024 | 31,000 | i) 10 Year for ₹20,000 crore | | ii) 40 Year for ₹11,000 crore | | 26 | September 23-27, 2024 | 34,000 | i) 5 Year for ₹12,000 crore | | ii) 15 Year for ₹12,000 crore | | iii) 30 Year for ₹10,000 crore | | Total | 7,50,000 | | 2. As hitherto, all the auctions covered by the calendar will have the facility of non-competitive bidding scheme under which five per cent of the notified amount will be reserved for the specified retail investors. 3. Like in the past, the Reserve Bank of India, in consultation with the Government of India, will continue to have the flexibility to bring about modifications in the above calendar in terms of notified amount, issuance period, maturities, etc. and to issue different types of instruments, including instruments having non-standard maturity, floating rate bonds (FRBs), inflation indexed bonds (IIBs), depending upon the requirement of the Government of India, evolving market conditions and other relevant factors, after giving due notice to the market. The calendar is subject to change, if circumstances so warrant, including for reasons such as intervening holidays. Such changes shall be communicated through Press Releases. 4. The Reserve Bank of India, in consultation with the Government of India, reserves the right to exercise the greenshoe option to retain additional subscription up to ₹2,000 crore against each of the securities indicated in the auction notifications. 5. The Reserve Bank of India will also be conducting switches of dated securities through auction on the third Monday of every month or at more frequent intervals. In case the third Monday is a holiday, switch auction will be conducted on the fourth Monday of the month. 6. The auction of dated securities will be subject to the terms and conditions specified in the General Notification No. F.4(2)-W&M/2018 dated March 27, 2018 issued by the Government of India, as amended from time to time. (Yogesh Dayal)
Chief General Manager Press Release: 2023-2024/2134 |