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