Description

BSE announces non-competitive bidding facility for RBI auction of two Government of India dated securities worth Rs 36,000 crores on August 22, 2025.

Summary

BSE has announced the availability of non-competitive bidding facility for the RBI auction of Government of India dated securities scheduled for August 22, 2025. Two G-secs totaling Rs 36,000 crores will be available for bidding through BSE’s NCB-GSec module.

Key Points

  • Two G-secs available: 5.91% GS 2028 (Rs 6,000 cr) and 6.33% GS 2035 (Rs 30,000 cr)
  • Both are re-issues with minimum subscription of Rs 10,000 and maximum of Rs 2 crores
  • Bidding available through BSE’s iBBS web-based system NCB-GSec module
  • 24-hour availability for bid collection starting August 19, 2025
  • Different deadlines for trading members vs direct investors

Regulatory Changes

No new regulatory changes. This circular continues the existing non-competitive bidding facility launched in April 2018 for Government Securities auctions conducted by RBI.

Compliance Requirements

  • Trading members must use BSE’s NCB-GSec module for bidding
  • Minimum subscription units of 100 with multiples thereof
  • Minimum amount: Rs 10,000, Maximum amount: Rs 2 crores per security
  • Members must adhere to specified bid collection timelines

Important Dates

  • Bid Collection Start: August 19, 2025, 10:00 AM onwards
  • Bid Collection End (Members): August 22, 2025, 8:00 AM
  • Bid Collection End (Direct Investors): August 21, 2025, 5:00 PM
  • Auction Date: August 22, 2025
  • Settlement Date: August 25, 2025

Impact Assessment

Moderate impact on debt market participants and institutional investors. The facility provides retail and institutional investors access to government securities through non-competitive bidding, supporting market liquidity and broadening investor participation in government debt markets. The Rs 36,000 crore offering size is substantial and may influence yield curves for the respective tenors.

Impact Justification

Regular government securities auction with established procedures affecting debt market participants