Description

BSE announces non-competitive bidding facility for RBI's auction of two Government of India dated securities (6.68% GS 2040 and 6.90% GS 2065) scheduled for December 12, 2025.

Summary

BSE has announced the availability of non-competitive bidding (NCB) facility for participating in RBI’s auction of two Government of India dated securities scheduled for December 12, 2025. The auction comprises re-issuance of 6.68% GS 2040 (Rs. 16,000 crore) and 6.90% GS 2065 (Rs. 12,000 crore). Trading members and direct investors can submit bids 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 auction size: Rs. 28,000 crore (Rs. 16,000 crore + Rs. 12,000 crore)
  • Both securities are re-issuances, not new offerings
  • Minimum subscription: 100 units (Rs. 10,000)
  • Maximum bid amount: Rs. 2 crore per security
  • Bidding platform: BSE iBBS web-based system (https://ibbs.bseindia.com) NCB-GSec module
  • Settlement date: December 15, 2025

Regulatory Changes

No regulatory changes. This circular is a continuation of existing non-competitive bidding facility launched via BSE circular no. 20180423-42 dated April 23, 2018.

Compliance Requirements

No new compliance requirements. Trading members interested in participating should:

  • Access the NCB-GSec module through BSE’s iBBS platform
  • Submit bids within specified timelines for their category (member vs. direct investor)
  • Ensure bid amounts comply with minimum (Rs. 10,000) and maximum (Rs. 2 crore) limits
  • Complete settlement obligations by December 15, 2025

Important Dates

  • December 08, 2025: RBI press release announcing the auction
  • December 09, 2025, 10:00 AM: Bid collection starts (24-hour availability)
  • December 11, 2025, 5:00 PM: Bid collection end for direct investors
  • December 12, 2025, 8:00 AM: Bid collection end for trading members
  • December 12, 2025: Auction date
  • December 15, 2025: Settlement date

Impact Assessment

This is a routine operational circular with minimal market impact. It provides trading members and investors an opportunity to participate in G-sec auctions through the non-competitive route. The facility is optional and only relevant to debt market participants interested in government securities. No changes to existing market structure, trading rules, or compliance frameworks. Contact details provided for technical support (user creation, bidding queries) and settlement matters (ICCL Operations).

Impact Justification

Routine operational circular for G-sec auction participation via NCB facility. Only affects debt market participants interested in government securities. No regulatory changes or compliance requirements.