Calendar for Marketable Dated Securities for the second half of 2002-2003


The Reserve Bank of India today issued an indicative calendar for completion of the balance of the budgeted market borrowing through dated securities for the second half of 2002-2003.

Period of Auction

Amount (Rs. Crore)

Term of the Security

October 3-8, 2002

7,000

 (i) 10-15 year security for Rs.4,000 crore.
(ii) 20-year and above security for Rs.3,000 crore

October 16-22, 2002

4,000

15-20 year security for Rs.4,000 crore

November 1-6, 2002

7,000

 (i) 15-20 year security for Rs.4,000 crore
(ii) 20 year and above security for Rs.3,000 crore

November 18-23, 2002

5,000

10-15 year security for Rs.5,000 crore

December 2-7, 2002

4,000

15-20 year security for Rs.4,000 crore.

January 1-6, 2003

5,000

10-15 year security for Rs.5,000 crore.

Total

32,000

 

 

The indicative calendar provides for completion of the balance of budgeted borrowing programme by January 2003, and has been the general experience. The calendar is subject to variations depending on market conditions and Government's requirements. All the auctions covered by the calendar will have the facility of non-competitive bidding scheme under which 5 per cent of the notified amount will be reserved for specified retail investors.

It may be recalled that the Reserve Bank of India had, in March 2002, announced an indicative calendar for issuance of marketable dated securities of Government of India for fiscal year 2002-2003 covering the period April to September 2002. The calendar was issued with a view to enabling institutional and retail investors to plan their investment in a better manner and also provide further transparency and stability in the Government securities market. The budgeted gross market borrowing through issuance of dated securities for 2002-2003 is Rs.1,16,867 crore, of which Rs.84,000 crore has been raised in the first half of the fiscal year.

Alpana Killawala
General Manager

Press Release : 2002-2003/303

Old auction calendars

First half 2002-03