Description

RBI announces auction of two Government of India dated securities (6.68% GS 2040 and 6.90% GS 2065) through non-competitive bidding facility on November 14, 2025.

Summary

BSE announces the availability of non-competitive bidding facility for the auction of Government of India dated securities scheduled for November 14, 2025. Two G-secs will be auctioned: 6.68% GS 2040 (re-issue of Rs. 16,000 crores) and 6.90% GS 2065 (re-issue of Rs. 12,000 crores). Trading members can submit bids through the NCB-GSec module on BSE’s iBBS web-based system.

Key Points

  • Two G-secs available for non-competitive bidding: 6.68% GS 2040 and 6.90% GS 2065
  • Total issue size: Rs. 28,000 crores (Rs. 16,000 cr + Rs. 12,000 cr)
  • Both securities are re-issues with minimum subscription units of Rs. 10,000 (100 units)
  • Bidding amount range: Minimum Rs. 10,000, Maximum Rs. 2 crores per bidder
  • Bidding platform: BSE iBBS web-based system - NCB-GSec module (https://ibbs.bseindia.com)
  • Auction conducted by RBI as per November 10, 2025 press release

Regulatory Changes

No new regulatory changes. This circular references existing framework established by Exchange circular no. 20180423-42 dated April 23, 2018, regarding the launch of non-competitive bidding facility for Government Securities auctions.

Compliance Requirements

  • Trading members must submit bids through the NCB-GSec module of BSE’s iBBS system only
  • Members must adhere to specified bidding timelines for their respective categories
  • Minimum and maximum bidding amounts must be observed (Min: Rs. 10,000, Max: Rs. 2 crores)
  • Bids must be in multiples of 100 units
  • Members responsible for obligation and pay-in as per settlement schedule

Important Dates

  • November 11, 2025, 10:00 AM: Bid collection start date (24-hour availability begins)
  • November 13, 2025, 5:00 PM: Bid collection end for Direct Investors
  • November 14, 2025, 8:00 AM: Bid collection end for Trading Members
  • November 14, 2025: Auction date
  • November 17, 2025: Settlement date

Impact Assessment

This circular has medium operational impact on debt market participants, particularly trading members and direct investors interested in government securities. The auction provides liquidity injection of Rs. 28,000 crores into the G-sec market through two long-dated securities (2040 and 2065 maturity). The non-competitive bidding facility allows smaller investors and trading members to participate in primary G-sec auctions without price competition, democratizing access to government debt instruments. The staggered bidding deadlines (Direct Investors: Nov 13, Members: Nov 14) ensure proper order processing. Contact details provided for technical support, trading queries, and settlement issues ensure smooth operational execution.

Impact Justification

Routine government securities auction notification for debt market participants with specific bidding timelines and parameters.