Issuance Calendar for the Marketable Dated Securities

Issuance Calendar for the Marketable Dated Securities for April 2022 – September 2022

Posted On: 31 MAR 2022 7:31PM by PIB Delhi

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

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.

As announced in the Union Budget 2022-23, the budgeted gross market borrowing through dated securities for the FY 2022-23 is Rs 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 Rs 14,31,352 crore.

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