Calendar for Marketable Dated Securities for the first half of 2003-2004
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 |
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. |
| 6. |
July 1-7, 2003 |
9,000 |
(i) 10-year to 14-year security for Rs.5,000
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 |
|
Total |
71,000 |
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
Old auction calendars