Description

BSE announces non-competitive bidding facility for RBI auction of two Government of India dated securities (6.68% GS 2040 and 6.90% GS 2065) scheduled for October 10, 2025.

Summary

BSE has announced the availability of non-competitive bidding facility for the Reserve Bank of India’s auction of two Government of India dated securities on October 10, 2025. Trading members and direct investors can participate in bidding for 6.68% GS 2040 (re-issue of Rs. 16,000 crore) and 6.90% GS 2065 (re-issue of Rs. 12,000 crore) through BSE’s iBBS web-based NCB-GSec module.

Key Points

  • Two G-secs available for non-competitive bidding: 6.68% GS 2040 and 6.90% GS 2065
  • Total combined issue size: Rs. 28,000 crore (both are re-issues)
  • Bidding platform: BSE iBBS web-based system NCB-GSec module (https://ibbs.bseindia.com)
  • Minimum subscription units: 100 (Rs. 10,000)
  • Maximum bid amount: Rs. 2 crore per security
  • Settlement date: October 13, 2025
  • Separate deadlines for trading members and direct investors

Regulatory Changes

No regulatory changes. This circular provides operational details pursuant to RBI’s press release dated October 06, 2025, and continues the non-competitive bidding facility previously launched via Exchange circular no. 20180423-42 dated April 23, 2018.

Compliance Requirements

For Trading Members:

  • Submit bids through NCB-GSec module of iBBS platform
  • Ensure bids comply with minimum (Rs. 10,000) and maximum (Rs. 2 crore) limits
  • Submit bids in multiples of 100 subscription units
  • Complete obligation and pay-in requirements as per ICCL guidelines

For Direct Investors:

  • Bid submission deadline is earlier (October 09, 2025 by 5:00 PM)
  • Same bid amount and unit constraints apply

Important Dates

  • October 06, 2025: RBI press release announcing auction
  • October 07, 2025, 10:00 AM: Bid collection starts (24-hour availability)
  • October 09, 2025, 5:00 PM: Bid collection end for direct investors
  • October 10, 2025, 8:00 AM: Bid collection end for trading members
  • October 10, 2025: Auction date
  • October 13, 2025: Settlement date

Impact Assessment

Market Impact: Medium - Routine government securities auction providing investment opportunities in long-dated sovereign bonds (15-year and 40-year tenure). Combined issue size of Rs. 28,000 crore represents standard government borrowing activity.

Operational Impact: Low - Established process using existing BSE infrastructure. Trading members familiar with NCB-GSec module from previous auctions.

Investor Impact: Medium - Retail and institutional investors gain access to participate in primary G-sec market through non-competitive route, ensuring allocation at weighted average price of competitive auction without needing to quote yields.

Contact Support:

Impact Justification

Routine G-sec auction process with clear operational procedures for trading members and investors to participate in government securities bidding.