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In order to enable institutional and retail investors to plan their investments efficiently and provide transparency and stability to the Government securities market, an indicative calendar for issuance of Government dated securities for the first half of the fiscal year 2020-21 (April 1, 2020 to September 30, 2020)is being issued in consultation with the Reserve Bank of India. The issuance calendar is as under:
Calendar for Issuance of Government of India Dated Securities
(April 1, 2020 to September 30, 2020)
Sr. No. | Week of Auction | Amount (in Rs.crore) | Security Wise Allocation |
1 | April 06-April 10, 2020 | 19,000 |
|
2 | April 13-April 17, 2020 | 20,000 |
|
3 | April 20-April 24,2020 | 21,000 |
|
4 | April 27-May01, 2020 | 19,000 | i. 5 Years Security for ₹ 9,000 crore ii. 14 Years Security for ₹ 4,000 crore iii. 30 Years Security for ₹ 6,000 crore |
5 | May 4-May 08, 2020 | 19,000 |
|
6 | May 11-May 15, 2020 | 19,000 |
|
7 | May 18-May 22, 2020 | 19,000 |
|
8 | May 25-May 29, 2020 | 21,000 |
|
9 | June 01-June05, 2020 | 19,000 |
|
10 | June 08-June 12, 2020 | 19,000 |
|
11 | June 15-June 19, 2020 | 19,000 |
|
12 | June 22-June 26, 2020 | 21,000 |
|
13 | June 29-July03, 2020 | 19,000 |
|
14 | July06-July 10, 2020 | 19,000 |
|
15 | July 13-July 17, 2020 | 19,000 |
|
16 | July 20-July 24, 2020 | 21,000 |
|
17 | July 27-July 31, 2020 | 19,000 |
|
18 | Aug. 3-Aug. 7, 2020 | 19,000 |
|
19 | Aug. 10-Aug.14, 2020 | 19,000 |
|
20 | Aug. 17-Aug.21, 2020 | 19,000 |
|
21 | Aug. 24-Aug.28, 2020 | 21,000 |
|
22 | Aug. 31-Sept.04, 2020 | 19,000 |
|
23 | Sept. 07-Sept.11, 2020 | 19,000 |
|
24 | Sept. 14-Sept.18, 2020 | 19,000 |
|
25 | Sept. 21-Sept.25, 2020 | 21,000 |
|
| TOTAL: | 488,000 |
|
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 and Floating Rate Bonds (FRBs), including CPI linked inflation linked bonds, 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 green-shoe to retain additional subscription up to ₹2,000 crore each against any one or more of the above security, which will be indicated in the auction notification. However, the exercise of the green-shoe option within one or more securities in an auction shall be within the overall notified amount for the auction.
5. Further, the Reserve Bank of India, in consultation with Government of India, reserves the right to retain an additional amount upto₹ 20,000 crore, over and above the notified amount in first half of 2020-21, under Green Shoe option, depending upon the market developments. The additional amount so retained, if any, will be set-off in second half.
6. The Reserve Bank of India will also be conducting switches of securities through auction on every third Monday of the month. In case third Monday is a holiday, switch auction will be conducted on fourth Monday of the month.
7. The auction of dated securities will be subject to the terms and conditions specified in the F.No.4(2)–W&M/2018, dated March 27, 2018, issued by Government of India,as amended from time to time.
Issuance calendar for government dated securities published; auctions include 5% reserved non-competitive bidding and green-shoe flexibility. The issuance calendar sets weekly auctions of Government dated securities for April-September 2020, specifying security types and notified amounts. Each auction will permit a non-competitive bidding facility reserving five per cent for specified retail investors. The Reserve Bank of India, in consultation with the Government, may modify amounts, maturities and instrument types, exercise green-shoe options to retain additional subscriptions within overall notified amounts and conduct monthly switch auctions; auctions remain subject to the terms and conditions of the referenced government notification. of Press 'Enter' after typing page number.
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