Description

NSE introduces 15 new Treasury Bills and State Development Loans for trading on capital market segment effective September 12, 2025.

Summary

NSE has announced the listing of 15 new government securities on its capital market segment, consisting of 3 Treasury Bills (T-bills) and 12 State Development Loans (SDLs) from various states including Bihar, Madhya Pradesh, Maharashtra, Jammu & Kashmir, Goa, and Haryana. These securities will be available for trading from September 12, 2025, with designated security codes and lot sizes of 100 units each.

Key Points

  • 15 new government securities admitted to NSE capital market segment
  • 3 Treasury Bills with maturities ranging from 91 days to 364 days
  • 12 State Development Loans from 6 different states with coupon rates between 6.74% to 7.52%
  • All securities have uniform lot size of 100 units
  • Securities identified by designated codes for trading purposes
  • Maturity periods for SDLs range from 2029 to 2045

Regulatory Changes

Implemented under Regulation 3.1.1 of NSE Capital Market Trading Regulations Part A for security admission and Regulation 2.5.5 for lot size specifications.

Compliance Requirements

Trading members must use only designated security codes for trading these securities and adhere to specified lot sizes of 100 units per transaction.

Important Dates

  • Effective Date: September 12, 2025
  • Circular Date: September 10, 2025
  • T-bill Maturities: December 11, 2025; March 12, 2026; September 10, 2026
  • SDL Maturities: Range from September 10, 2029 to September 10, 2045

Impact Assessment

Expands government securities trading options on NSE, providing more investment alternatives for institutional and retail investors. The addition of these fixed-income securities enhances market depth and liquidity in the government securities segment, particularly benefiting investors seeking diversified exposure to central and state government debt instruments.

Impact Justification

New government securities listing expands trading options but has limited immediate market impact