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With a view to enabling institutional
and retail investors to plan their investment in a better manner and
also for providing transparency and stability in the Government securities
market, it has been decided to continue with the system of releasing
an indicative calendar for issuance of Government securities.
Accordingly, the Reserve Bank of India, in consultation
with the Government, today issued an indicative calendar for issue of
dated securities for the first half of 2003-2004 covering period from
April 1, 2003 to September 30, 2003.
| Sr.No. |
Period of Auction |
Amount (Rs. Crore) |
Term of the Security |
| 1. |
April 3-9, 2003 |
9,000 |
(i) 10-year security for
Rs.5,000 crore.
(ii) 20-year and above security for Rs.4,000 crore |
| 2. |
April 16-22, 2003 |
7,000 |
(i) 15-year to 19-year security
for Rs.5,000 crore |
| 3. |
May 2-8, 2003 |
9,000 |
(i) 10-year
security for Rs.6,000 crore
(ii) 20 year and above security for Rs.3,000 crore |
| 4. |
May 14-20, 2003 |
5,000 |
10-14 year security for Rs.5,000
crore |
| 5. |
June 2-8, 2003 |
9,000 |
(i) 5-year to 9-year security for
Rs.6,000 crore.
(ii) 20-year and above security for Rs.3,000 crore. |
| 6. |
July 1-7, 2003 |
9,000 |
(i) 10-year to 14-year security
for Rs.5,000 crore.
(ii) 15-year to 198-year security for Rs. 4,000 crore |
| 7. |
July 14-21, 2003 |
5,000 |
(i) 15 year to 19-year
security for Rs. 3,000 crore
(ii) 20-year and above security for Rs. 2,000 crore |
| 8. |
August 1-7, 2003 |
9,000 |
(i) 5- year to 10-year
security for Rs. for Rs. 6,000 crore
(ii) 20-year and above security for Rs. 3,000 crore |
| 9. |
September 1-7,
2003 |
9,000 |
(i) 10-year
to 14-year security for Rs. 5,000 crore
(ii) 15-year to 20-year security for Rs. 4,000 crore |
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Total |
71,000 |
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All the auctions covered by the calender will have the
facility of non-competitive bidding scheme under which 5 per cent of
the notified amount will be reserved for the specified retail investors.
Floating Rate Bonds will account for about 10 to 20
per cent of the total issuance, depending upon market response.
The calender is subject to variations depending on market
conditions and other relevant factors. In addition to the proposed issuances
of dated securities indicated in the calendar, the Reserve Bank will
also have the flexibility for additional issuances of Government securities
as per emerging requirements of the Government including those in relation
to the proposed buy back of securities.
Alpana Killawala
General Manager
Press Release : 2002-03/1020
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