In order to enable institutional and retail investors to plan their investments efficiently and provide transparency and stability to the Government Securities market, Government of India, in consultation with the Reserve Bank of India, hereby notifies the indicative calendar for issuance of Government dated securities for the first half of the fiscal year 2023-24 (April 01, 2023 to September 30, 2023). The issuance calendar is as under:
Calendar for Issuance of Government of India Dated Securities (April 1, 2023 to September 30, 2023) |
Sr. No. | Auction Week | Amount in (Rs crore) | Security-wise allocation |
1 | April 03-April 07, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
2 | April 10-April 14, 2023 | 39,000 | - 3 Year security - Rs 8,000 crore
- 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
3 | April 17-April 21, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
4 | April 24-April 28, 2023 | 31,000 | - 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
5 | May 01-May 05, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
6 | May 08-May 12, 2023 | 39,000 | - 3 Year security - Rs 8,000 crore
- 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
7 | May 15-May 19, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
8 | May 22-May 26, 2023 | 31,000 | - 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
9 | May 29-June 02, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
10 | June 05-June 09, 2023 | 39,000 | - 3 Year security - Rs 8,000 crore
- 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
11 | June 12-June 16, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
12 | June 19-June 23, 2023 | 31,000 | - 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
13 | June 26-June 30, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
14 | July 03 – July 07, 2023 | 39,000 | - 3 Year security - Rs 8,000 crore
- 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
15 | July 10 – July 14, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
16 | July 17 – July 21, 2023 | 31,000 | - 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
17 | July 24 – July 28, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
18 | July 31 – August 04, 2023 | 39,000 | - 3 Year security - Rs 8,000 crore
- 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
19 | August 07 – August 11, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
20 | August 14 – August 18, 2023 | 31,000 | - 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
21 | August 21 – August 25, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
22 | August 28 – September 01, 2023 | 39,000 | - 3 Year security - Rs 8,000 crore
- 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
23 | September 04 -September 08, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
24 | September 11 -September 15, 2023 | 31,000 | - 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
25 | September 18 -September 22, 2023 | 33,000 | - 5 Year security - Rs 8,000 crore
- 10 Year security - Rs 14,000 crore
- 30 Year security - Rs 11,000 crore
|
26 | September 25 -September 29, 2023 | 39,000 | - 3 Year security - Rs 8,000 crore
- 7 Year security - Rs 7,000 crore
- 14 Year security - Rs 12,000 crore
- 40 Year security - Rs 12,000 crore
|
| Total | 8,88,000 | |
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 green-shoe option to retain additional subscription up to Rs 2,000 crore against each of the securities indicated in auction notification.
The Reserve Bank of India will also be conducting switches of dated securities through auction on third Monday of every month or at more frequent intervals. In case the third Monday is a holiday, switch auction will be conducted on fourth Monday of the month.
The issuance of Sovereign Green Bonds will be announced in the second half of the fiscal year 2023-24.
The auction of dated securities will be subject to the terms and conditions specified in the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 issued by the Government of India, as amended from time to time.
Issuance calendar for government dated securities sets scheduled auctions, retail non-competitive quota and issuance flexibility. An indicative issuance calendar for the first half of fiscal 2023-24 schedules weekly auctions with tenor-specific allocations across maturities to provide issuance predictability. All auctions feature a
non-competitive bidding scheme reserving a retail portion; the Government and Reserve Bank may exercise a
green-shoe option to accept additional subscriptions, conduct regular switch auctions, modify issuance amounts, maturities or instrument types, and will announce Sovereign Green Bonds in the second half of the year. Auctions are subject to the General Notification.
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