Description

RBI to auction three Government dated securities (G-secs) on January 23, 2026 with non-competitive bidding facility available through BSE's NCB-GSec module for trading members and direct investors.

Summary

BSE has announced the availability of non-competitive bidding facility for trading members and direct investors to participate in the RBI auction of three Government of India dated securities scheduled for January 23, 2026. The auction includes re-issuances of New GS 2029, New GS 2033, and 7.24% GS 2055 with a combined issue size of ₹33,000 crores. Bidding will be conducted through BSE’s iBBS web-based NCB-GSec module.

Key Points

  • Three G-secs available for auction: New GS 2029 (₹9,000 cr), New GS 2033 (₹11,000 cr), and 7.24% GS 2055 (₹13,000 cr)
  • All securities are re-issues with minimum subscription units of 100 and multiples thereof
  • Minimum bidding amount: ₹10,000; Maximum bidding amount: ₹2 crores per security
  • Non-competitive bidding facility accessible through BSE’s iBBS platform NCB-GSec module
  • Separate bid collection deadlines for trading members and direct investors
  • Settlement scheduled for January 27, 2026

Regulatory Changes

No regulatory changes introduced. This circular continues the existing non-competitive bidding facility for G-sec auctions as per Exchange 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 ensure bids comply with minimum (₹10,000) and maximum (₹2 crores) amount limits
  • Bids must be placed in multiples of 100 units for all three securities
  • Members requiring new user ID creation or password reset should contact Trading Operations before bid collection start
  • Obligation and pay-in related queries should be addressed to ICCL Operations

Important Dates

  • January 19, 2026: RBI press release announcing auction
  • January 20, 2026, 10:00 AM: Bid collection starts (available 24 hours)
  • 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: Minimal. This is a routine G-sec auction announcement that provides market participants an opportunity to invest in government securities through the non-competitive bidding route.

Operational Impact: Trading members and direct investors need to ensure timely bid submission through the designated platform. The staggered deadlines (direct investors by Jan 22 at 5 PM, members by Jan 23 at 8 AM) require operational coordination.

Participant Impact: Provides retail and institutional investors access to participate in government securities auctions without competing on yield, as allocations under non-competitive bidding are made at the weighted average yield of competitive bids. The ₹2 crore maximum limit per security makes this suitable primarily for smaller investors and retail participants.

Contact Support: BSE has provided dedicated support contacts for user ID creation (Trading Operations: 022-2272 8005/8215), bidding queries (022-2272 8376/5626/8226), and settlement queries (ICCL Operations: 022-2272 8468/8704/8264).

Impact Justification

Routine operational circular for G-sec auction participation through non-competitive bidding. Standard auction process with no policy changes or market-wide implications.