Description

RBI announces auction of three Government of India dated securities (G-secs) on January 23, 2026 with non-competitive bidding facility available through BSE's NCB-GSec module.

Summary

BSE announces non-competitive bidding facility for the auction of three Government of India dated securities (G-secs) to be conducted by RBI on January 23, 2026. Trading members can participate through BSE’s iBBS web-based NCB-GSec module. The auction includes re-issuance of three securities with a combined issue size of Rs. 33,000 crores.

Key Points

  • Three G-secs to be auctioned: New GS 2029, New GS 2033, and 7.24% GS 2055
  • Total auction size: Rs. 33,000 crores (Rs. 9,000 cr + Rs. 11,000 cr + Rs. 13,000 cr)
  • All securities are re-issues with minimum subscription units of 100 and multiples thereof
  • Minimum bidding amount: Rs. 10,000; Maximum amount: Rs. 2 crores per security
  • Non-competitive bidding available through BSE’s iBBS NCB-GSec module
  • Trading members and direct investors can participate with different bid collection timelines

Regulatory Changes

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

Compliance Requirements

  • Trading members must submit bids through the NCB-GSec module at https://ibbs.bseindia.com
  • Members must adhere to minimum subscription units of 100 and multiples thereof
  • Bidding amount must be between Rs. 10,000 (minimum) and Rs. 2 crores (maximum) per security
  • Members must ensure timely bid submission and meet payment obligations on settlement date

Important Dates

  • January 19, 2026: RBI press release announcing the auction
  • January 20, 2026, 10:00 AM: Bid collection start date (24-hour availability)
  • January 22, 2026, 5:00 PM: Bid collection end date for Direct Investors
  • January 23, 2026, 8:00 AM: Bid collection end date for Trading Members
  • January 23, 2026: Auction date
  • January 27, 2026: Settlement date

Impact Assessment

Market Impact: Low. This is a routine government securities auction conducted by RBI through the non-competitive bidding route. The facility enables retail participation in G-sec auctions and provides liquidity to the government debt market.

Operational Impact: Low to Medium for debt market participants. Trading members need to coordinate bid collection from clients and ensure timely submission through the NCB-GSec module. Settlement obligations must be met by January 27, 2026.

Target Audience: Debt market trading members, institutional investors, and retail investors interested in government securities.

Impact Justification

Routine government securities auction announcement for debt market participants with standard bidding procedures