Description

NSE introduces 3 Treasury Bills and 7 State Development Loans for trading on capital market segment with effect from October 10, 2025.

Summary

NSE has admitted 10 government securities for trading on the capital market segment effective October 10, 2025. The listing includes 3 Treasury Bills (T-bills) with varying maturities and 7 State Development Loans (SDLs) from states including Jammu & Kashmir, Gujarat, Andhra Pradesh, Maharashtra, and Mizoram. All securities will trade with a lot size of 100 units.

Key Points

  • 3 Treasury Bills introduced: 91-day (maturing Jan 2026), 182-day (maturing Apr 2026), and 364-day (maturing Oct 2026)
  • 7 State Development Loans from 5 states with coupon rates ranging from 7.06% to 7.39%
  • All securities have uniform lot size of 100 units
  • Securities identified by designated codes for trading purposes
  • Trading commences October 10, 2025

Securities Details

Treasury Bills

  1. 91D080126 - GOI TBILL 91D-08/01/26 (ISIN: IN002025X281) - Maturity: January 8, 2026
  2. 182D090426 - GOI TBILL 182D-09/04/26 (ISIN: IN002025Y289) - Maturity: April 9, 2026
  3. 364D081026 - GOI TBILL 364D-08/10/26 (ISIN: IN002025Z286) - Maturity: October 8, 2026

State Development Loans

  1. 739JK37A - SDL JK 7.39% 2037 (ISIN: IN4920250144) - Maturity: October 8, 2037
  2. 706GJ33 - SDL GJ 7.06% 2033 (ISIN: IN1520250151) - Maturity: October 8, 2033
  3. 714AP33 - SDL AP 7.14% 2033 (ISIN: IN1020250347) - Maturity: October 8, 2033
  4. 726MH41 - SDL MH 7.26% 2041 (ISIN: IN2220250327) - Maturity: October 8, 2041
  5. 727AP36 - SDL AP 7.27% 2036 (ISIN: IN1020250354) - Maturity: October 8, 2036
  6. 731MZ41 - SDL MZ 7.31% 2041 (ISIN: IN2520250050) - Maturity: October 8, 2041
  7. 726MH42 - SDL MH 7.26% 2042 (ISIN: IN2220250335) - Maturity: October 8, 2042

Regulatory Framework

This listing is issued pursuant to:

  • Regulation 3.1.1 of NSE (Capital Market) Trading Regulations Part A - admission of securities to dealings
  • Regulation 2.5.5 of NSE (Capital Market) Trading Regulations Part A - lot size specifications

Trading Parameters

  • Market Type: TB (Treasury Bills) and SG (State Government securities)
  • Lot Size: 100 units for all securities
  • Identification: Securities identified by designated codes on trading system

Important Dates

  • Circular Date: October 8, 2025
  • Effective Date: October 10, 2025

Impact Assessment

This circular provides routine expansion of tradable government securities on NSE’s capital market segment. The addition of these T-bills and SDLs offers investors more options in government debt instruments with varying maturities (short-term T-bills to long-term SDLs maturing up to 2042). The impact is primarily relevant to institutional investors, debt market participants, and portfolio managers seeking government-backed fixed-income securities. No impact on equity markets or retail investors.

Impact Justification

Routine listing of government securities with standard trading parameters; primarily relevant for debt market participants