Description
NSE introduces 25 new government securities including T-bills and SDLs for trading on capital market segment effective September 1, 2025.
Summary
NSE has notified the listing of 25 new government securities on its capital market segment, comprising 22 State Development Loans (SDLs) from various states and 3 Treasury Bills (T-bills). These securities will be available for trading from September 1, 2025, with designated security codes and lot sizes of 100 units each.
Key Points
- 22 State Development Loans from states including Tamil Nadu, Odisha, Rajasthan, Madhya Pradesh, Telangana, Gujarat, West Bengal, Haryana, Jammu & Kashmir, Kerala, Goa, Assam, and Himachal Pradesh
- 3 Treasury Bills with maturities ranging from 91 days to 364 days
- Coupon rates for SDLs range from 6.84% to 7.82%
- Maturity dates for SDLs span from 2025 to 2055
- All securities will have a uniform lot size of 100 units
- Trading identification will be by designated security codes only
Regulatory Changes
No regulatory changes introduced. This is a routine listing notification under existing NSE Capital Market Trading Regulations Part A, specifically Regulation 3.1.1 and Regulation 2.5.5.
Compliance Requirements
- Market participants must use only the designated security codes for trading
- Trading must be conducted in the specified lot sizes of 100 units
- Securities will be identified on the trading system by their designated codes
Important Dates
- Effective Date: September 1, 2025
- Circular Date: August 28, 2025
- T-bill Maturities: November 28, 2025; February 27, 2026; August 28, 2026
- SDL Maturities: Various dates from 2029 to 2055
Impact Assessment
This listing expands the government securities available for trading on NSE’s capital market segment, providing more investment options for institutional and retail investors in the debt market. The addition of these securities enhances market depth and liquidity in the government securities segment, particularly benefiting portfolio managers, banks, and other institutional investors seeking government-backed fixed-income instruments with varying maturity profiles.
Impact Justification
Routine listing of government securities with standard market impact for debt segment participants