Description
BSE announces non-competitive bidding facility for RBI auction of Government of India dated security 6.48% GS 2035 worth Rs. 32,000 crores on January 02, 2026.
Summary
BSE has announced the availability of non-competitive bidding facility for trading members and direct investors to participate in the RBI auction of Government of India dated security scheduled for January 02, 2026. The auction will offer 6.48% GS 2035 (re-issue) with a total issue size of Rs. 32,000 crores. Bidding will be conducted through BSE’s iBBS web-based NCB-GSec module.
Key Points
- Security offered: 6.48% GS 2035 (Symbol: 648GS35J26) - Re-issue
- Total issue size: Rs. 32,000 crores
- Minimum subscription units: Rs. 10,000 in multiples of Rs. 100
- Maximum bidding amount: Rs. 2 crores per bidder
- Bidding platform: BSE iBBS web-based system NCB-GSec module (https://ibbs.bseindia.com)
- This facility is in continuation of BSE circular dated April 23, 2018 (No. 20180423-42)
Regulatory Changes
No new regulatory changes introduced. This circular implements existing non-competitive bidding framework established in 2018 for the upcoming RBI G-sec auction.
Compliance Requirements
For Trading Members:
- Submit bids through NCB-GSec module on BSE iBBS platform
- Ensure bids comply with minimum (Rs. 10,000) and maximum (Rs. 2 crores) limits
- Submit bids in multiples of Rs. 100
- Complete bid submission before deadline
For Direct Investors:
- Access NCB-GSec module for direct participation
- Adhere to same bidding parameters as trading members
- Complete bidding within specified timeline
Contact Points:
- New user ID/password reset: user.trdops@bseindia.com (022-2272 8005/8215)
- Bidding queries: trading.ops@bseindia.com (022-2272 8376/5626/8226)
- Obligation & Pay-in queries: Collaterals@icclindia.com, settlements@icclindia.com (022-2272 8468/8704/8264)
Important Dates
| Event | Date/Time |
|---|---|
| Bid Collection Start (24-hour availability) | December 30, 2025, 10:00 AM onwards |
| Bid Collection End - Direct Investors | January 01, 2026, 5:00 PM |
| Bid Collection End - Trading Members | January 02, 2026, 8:00 AM |
| Auction Date | January 02, 2026 |
| Settlement Date | January 05, 2026 |
Impact Assessment
Market Impact: Low - This is a routine government securities auction procedure that occurs regularly. The non-competitive bidding facility provides retail and smaller institutional investors access to G-sec primary issuance.
Operational Impact: Low - Standard operational procedure for debt segment participants. Trading members familiar with the iBBS NCB-GSec module from previous auctions.
Investor Impact: Provides opportunity for non-competitive participation in sovereign bond auction with guaranteed allocation (subject to RBI’s non-competitive quota limits). Maximum investment capped at Rs. 2 crores per bidder ensures retail accessibility.
Liquidity Impact: The Rs. 32,000 crore issue size adds to government securities available in secondary market post-settlement on January 05, 2026.
Impact Justification
Routine procedural circular for G-sec auction participation through non-competitive bidding facility. Limited to debt segment participants and government securities investors.