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With a view to enabling institutional and retail investors to plan their investment in a better manner and also for providing transparency and stability in the Government securities market, it has been decided to continue with the system of releasing an indicative calendar for issuance of Government of India securities. Accordingly, an indicative issuance calendar for issue of dated securities for second half of the year 2005-2006 covering the period from October 1, 2005 to March 31, 2006 (as given below ) is being issued in consultation with the Reserve Bank of India.
Calendar for issuance of Government of India Securities
(for the period October 1, 2005 to March 31, 2006)
Sr.No.
Period of auction
amount
(Rs. crore)
Term of the security
1.
October 4-11, 2005
9,000
i) 5-9 year security for Rs. 6,000 crore
ii) 20-year and above security for Rs.3,000 crore
2.
October 18-25, 2005
4,000
15-19 year security for Rs.4,000 crore
3.
November 2-9, 2005
8,000
i) 10-14 year security for Rs.5,000 crore
ii) 20 –year and above security for Rs. 3,000 crore
4.
November 16-24,2005
5,000
15-19 year security for Rs.5,000 crore
5.
December 1-8, 2005
8,000
i) 10-14 year security for Rs.5,000 crore
ii) 20 –year and above security for Rs. 3000 crore
6.
January 3-11, 2006
10,000
i) 5-9 year security for Rs. 6,000 crore
ii) 20-year and above security for Rs.4,000 crore
7.
February 1-8, 2006
9,000
i) 10-14 year security for Rs.6,000 crore
ii) 20 –year and above security for Rs. 3000 crore
8.
February 14-22, 2006
5,000
10-14 year security for Rs.5,000 crore
total
58,000
All the auctions covered by the calendar will have the facility of non-competitive biding scheme under which 5 per cent of the notified amount will be reserved for specified retail investors.
Variable rate Bonds will account for about 10 to 20 per cent of the total issuance, depending upon market requirement.
The issuances of Treasury Bills/dated securities under the Market Stabilization Scheme (MSS) would be in addition to the above issuance calendar. The Schedule for issuance of such T-bills/dated securities for the period October-December 2005 under MSS is being notified separately.
The calendar is subject to variations depending on market conditions and other relevant factors. As in the past, there will also be flexibility to vary issuance of Government securities keeping in view the emerging requirements of the Government.
Department of Economic Affairs, Ministry of Finance
New Delhi: Bhadrapada 28; September 19,2005
BY/GN-339/05
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