Issuance Calendar for Marketable Dated Securities
for H2 of 2003-04
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, the system of releasing an indicative calendar for issuance of Government securities has been started from the fiscal 2002-03. In continuation with the practice, an indicative issuance calendar covering the period from October 1, 2003 to March 31, 2004 is being issued in consultation with the Government as under:
| Sr.No. |
Period of Auction |
Amount |
Term of the Security |
| 1. |
October 16-22 , 2003 |
5,000 |
15 to 19 years |
| 2. |
November 3-10 , 2003 |
5,000 |
5 to 9 years |
| 3. |
December 1-8 , 2003 |
5,000 |
20 years and above |
| 4. |
January 1-8 , 2003 |
5,000 |
10 to 14 years |
| 5. |
February 2-9 , 2003 |
5,000 |
20 years and above |
|
Total |
25,000 |
The issuance calendar covers the balance of budgeted Gross Market Borrowing Programme of the Government for the fiscal 2003-04 after adjusting the amount received by the Government of India from the State Governments towards prepayment of the small savings loans and keeping in view of trends in other receipts.
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.
Floating Rate Bonds will account for about 20 per cent of the total issuance, depending upon market response.
The calendar 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 the emerging requirements of the Government.
Alpana Killawala
General Manager
Press Release: 2003-04/438
Old auction calendars