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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 2022-23 (April 1, 2022 to September 30, 2022) has been prepared in consultation with the Reserve Bank of India. The issuance calendar is as under:
Calendar for Issuance of Government of India Dated Securities (April 01, 2022 to September 30, 2022) | |||
Sr. No. | Auction Week | Amount in (Rs, crore) | Security-wise allocation |
1 | April 04- April 08, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 10,000 crore | |||
iii) 30 Years for ₹ 9,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
2 | April 11- April 15, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
3 | April 18- April 22, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 10,000 crore | |||
iii) 30 Years for ₹ 9,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
4 | April 25- April 29, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
5 | May 02- May 06, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 10,000 crore | |||
iii) 30 Years for ₹ 9,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
6 | May 09- May 13, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
7 | May 16- May 20, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 10,000 crore | |||
iii) 30 Years for ₹ 9,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
8 | May 23- May 27, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
9 | May 30- June 03, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 10,000 crore | |||
iii) 30 Years for ₹ 9,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
| |||
Sr. No. | Auction Week | Amount in (Rs. Crore) | Tenor-wise allocation |
10 | June 06- June 10, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
11 | June 13- June 17, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 10,000 crore | |||
iii) 30 Years for ₹ 9,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
12 | June 20- June 24, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
13 | June 27- July 01, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 10,000 crore | |||
iii) 30 Years for ₹ 9,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
14 | July 04- July 08, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
15 | July 11- July 15, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 10,000 crore | |||
iii) 30 Years for ₹ 9,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
16 | July 18- July 22, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
17 | July 25- July 29, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 11,000 crore | |||
iii) 30 Years for ₹ 8,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
18 | August 01- August 05, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
19 | August 08- August 12, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 11,000 crore | |||
iii) 30 Years for ₹ 8,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
20 | August 15- August 19, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
21 | August 22- August 26, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 11,000 crore | |||
iii) 30 Years for ₹ 8,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
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Sr. No. | Auction Week | Amount in (Rs. Crore) | Tenor -wise allocation |
22 | August 29 - September 02, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
23 | September 05 - September 09, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 11,000 crore | |||
iii) 30 Years for ₹ 8,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
24 | September 12 – September 16, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
25 | September 19 – September 23, 2022 | 32,000 | i) 05 Years for ₹ 9,000 crore |
ii) 14 Years for ₹ 11,000 crore | |||
iii) 30 Years for ₹ 8,000 crore | |||
iv) FRB ₹ 4,000 crore | |||
26 | September 26 – September 30, 2022 | 33,000 | i) 02 Years for ₹ 4,000 crore |
ii) 07 Years for ₹ 7,000 crore | |||
iii) 10 Years for ₹ 13,000 crore | |||
iv) 40 Years for ₹ 9,000 crore | |||
Total | 8,45,000 |
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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.
Like in the past, the Government of India/ Reserve Bank 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), CPI linked inflation indexed bonds (IIBs), etc. 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.
The Government of India, in consultation with the Reserve Bank of India, reserves the right to exercise the greenshoe option to retain additional subscription up to ₹2000 crore each against one or more securities indicated in the auction notification.
The Reserve Bank of India will also be conducting switches of dated securities through auction on every third Monday of the month or at more frequent intervals. In case third Monday is a holiday, switch auction will be conducted on fourth Monday of the month.
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.
The Government of India and the Reserve Bank of India are working jointly in bringing out a Framework for issuance of Sovereign Green Bonds, as announced by the Hon’ble Finance Minister in her Budget Speech on February 1, 2022. The issuance of Sovereign Green Bonds will be announced once the preparatory work is completed.
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As announced in the Union Budget 2022-23, the budgeted gross market borrowing through dated securities for the FY 2022-23 is ₹ 14,95,000 crore. Taking into account the switch operations conducted on Jan 28, 2022, the gross market borrowing through dated securities for the FY 2022-23 is expected at ₹ 14,31,352 crore.
Issuance calendar for government dated securities announces weekly tenor allocations, retail non competitive reservation, and modification flexibility. Indicative issuance calendar for government dated securities for April-September 2022 sets weekly auction schedules with specified tenor-wise allocations, recurring issuance of floating rate bonds, and an aggregate calendared amount. Auctions include a non-competitive bidding facility reserving five percent for specified retail investors. The Government and the Reserve Bank retain flexibility to modify amounts, periods, maturities and instrument types after notice, may exercise a greenshoe option to retain additional subscription up to the notified limit, and will conduct monthly switch auctions subject to the General Notification. of Press 'Enter' after typing page number.
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