Description

BSE announces non-competitive bidding facility for RBI auction of two Government Securities (6.68% GS 2040 and 6.90% GS 2065) scheduled for November 14, 2025 with settlement on November 17, 2025.

Summary

BSE has announced the availability of non-competitive bidding facility for the RBI auction of Government of India dated securities scheduled for November 14, 2025. Trading members and direct investors can participate in the auction of two G-secs (6.68% GS 2040 and 6.90% GS 2065) through BSE’s iBBS web-based NCB-GSec module. The total issue size is Rs. 28,000 crores with settlement scheduled for November 17, 2025.

Key Points

  • Two G-secs available for non-competitive bidding: 6.68% GS 2040 (re-issue of Rs. 16,000 crores) and 6.90% GS 2065 (re-issue of Rs. 12,000 crores)
  • Bidding through BSE’s iBBS web-based system NCB-GSec module at https://ibbs.bseindia.com
  • Minimum subscription units: 100 units (Rs. 10,000)
  • Maximum bidding amount: Rs. 2 crores per security
  • Bid collection starts November 11, 2025 from 10:00 am (24-hour availability)
  • Different deadlines for trading members (November 14, 8:00 am) and direct investors (November 13, 5:00 pm)
  • Reference to earlier circular no. 20180423-42 dated April 23, 2018 regarding NCB facility launch

Regulatory Changes

No regulatory changes. This circular provides operational details for an existing non-competitive bidding facility established in 2018.

Compliance Requirements

  • Trading members must submit bids through the NCB-GSec module of BSE’s iBBS system
  • Trading members must complete bid submission by November 14, 2025 at 8:00 am
  • Direct investors must complete bid submission by November 13, 2025 at 5:00 pm
  • Minimum bidding amount of Rs. 10,000 (100 units) and maximum of Rs. 2 crores per security must be adhered to
  • Contact details provided for user ID creation, password reset, bidding queries, and obligation/pay-in queries

Important Dates

  • November 10, 2025: RBI press release announcing auction
  • November 11, 2025: Bid collection opens at 10:00 am
  • November 13, 2025: Bid collection ends for direct investors at 5:00 pm
  • November 14, 2025: Bid collection ends for trading members at 8:00 am; Auction date
  • November 17, 2025: Settlement date

Impact Assessment

This is a routine operational circular with minimal market impact. It facilitates participation of retail investors and trading members in the government securities auction through the non-competitive bidding route. The circular applies only to debt segment participants interested in G-sec investments. No changes to existing procedures or new compliance obligations. The two securities being auctioned are re-issues of existing G-secs with long tenure (2040 and 2065 maturity).

Impact Justification

Routine operational circular for G-sec auction participation through non-competitive bidding. No regulatory changes or compliance impact. Limited to debt segment trading members and direct investors.