Description
NSE notifies listing of 26 State Development Loans (SDLs) and 3 Treasury Bills (T-bills) on the capital market segment, effective March 13, 2026.
Summary
NSE has notified the listing of 29 new government securities — 26 State Development Loans (SDLs) and 3 Treasury Bills (T-bills) — on its Capital Market Segment, effective March 13, 2026. The securities are admitted under Regulation 3.1.1 of the NSE Capital Market Trading Regulations Part A, with designated security codes and lot sizes of 100 units each.
Key Points
- 26 SDLs from states including Andhra Pradesh, Arunachal Pradesh, Assam, Delhi, Gujarat, Haryana, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Mizoram, Sikkim, Tamil Nadu, Telangana, Tripura, and West Bengal are listed.
- 3 Treasury Bills are listed: 91-day (maturity June 11, 2026), 182-day (maturity September 10, 2026), and 364-day (maturity March 11, 2027).
- All securities carry a standard lot size of 100 units.
- SDL coupon rates range from 6.64% (TN 2029) to 7.79% (JK 2041).
- SDL maturities range from 2029 to 2049.
- Securities are identified on the trading system exclusively by their designated codes (symbols).
Regulatory Changes
No new regulatory changes. The listing is pursuant to existing Regulation 3.1.1 (admission of securities to dealings) and Regulation 2.5.5 (lot sizes) of the NSE Capital Market Trading Regulations Part A.
Compliance Requirements
- Members must use designated security codes for all trading in these securities.
- Trading must be conducted in the specified lot sizes of 100 units per security.
- No additional compliance action required from members beyond standard trading norms.
Important Dates
- Circular Date: March 11, 2026
- Effective Date: March 13, 2026 (securities admitted to dealings)
- T-bill Maturities: June 11, 2026 (91D) | September 10, 2026 (182D) | March 11, 2027 (364D)
- SDL Maturities: Range from March 11, 2029 to March 11, 2049
Impact Assessment
This is a routine expansion of tradable government securities on NSE’s capital market segment. The addition of 26 SDLs across 16 states and 3 T-bills increases the depth and diversity of the fixed-income debt market available to members. Institutional investors, mutual funds, and debt market participants gain more instruments for portfolio construction and liquidity management. No adverse market impact is expected; this is a standard periodic listing notification.
Impact Justification
Routine listing of government-backed debt securities (SDLs and T-bills) expanding fixed-income tradable instruments on NSE. Relevant to debt market participants and institutional investors but not a policy change or compliance mandate.