Calendar for Regular Auction of Government of India Treasury


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Calendar for Regular Auction of Government of India Treasury Bills

The Government of India, in consultation with the Reserve Bank of India, has announced the following calendar of Treasury Bills (T-Bills) issuance for the fiscal year 2009-10:

First Quarter (April 1, 2009 to June 30, 2009):

The T-Bills, which were issued for enhanced amounts in the fiscal year 2008-09 and which have become due for redemption in the first quarter of the fiscal year 2009-10, will be rolled over. 

Second Quarter onwards (July 1, 2009 to March 31, 2010)

            The calendar of T-Bills issuance for the second quarter onwards is as under:

 

Type

of T-Bills

 

Periodicity

Notified Amount

(Rs. in crore)

Day of

Auction

 

Day of

Payment

 

91-Day

Weekly

2000

Every Wednesday

Following

Friday

 

182-Day

Fortnightly

1000

Wednesday preceding the

non-Reporting Friday

 

Following

Friday

364-Day

Fortnightly

1000

Wednesday preceding

the Reporting Friday

 

Reporting

Friday

 

 The roll over of the additional amounts of T-Bills which become due for redemption from the second quarter onwards will be decided by the Government of India in consultation with the Reserve Bank of India

            It may be noted that the notified amounts for issuance of 91 day T-Bills as also 182 day T-Bills and 364 day T-Bills have been fixed at Rs.500 crore and Rs.1,000 crore respectively since the year 2003.  There have been requests from the market participants and experts to increase the notified regular amounts of the T-Bills keeping in view the market demand, increased turnover in Government securities, etc.   Accordingly, it has been decided, in consultation with the Reserve Bank of India, to increase the notified amounts of T-Bills as indicated above, with effect from the second quarter of the fiscal year 2009-10.

            The Government of India/Reserve Bank of India will continue to have the flexibility to modify the notified amount and timing for auction of Treasury Bills keeping in view the emerging requirements of the Government, market conditions and other relevant factors. The calendar is thus subject to change, if circumstances so warrant, including for reasons, such as, intervening holidays. Such changes, if any, will be communicated through regular press releases.

            The auction of Treasury bills will be subject to the terms and conditions specified in the General Notification No. F 2(12)-W&M/97, dated March 31, 1998 issued by the Government of India, as amended from time to time.

 

The Notified amounts for issuance of the Treasury Bills for the first quarter of the Fiscal Year 2009-10 are as under:

(Amount in crore)

 

Date of Redemption / Date of issue

Redemption

Reissue

91 DTB

182 DTB

364 DTB

Total

91

DTB

182 DTB

364 DTB

Total

3-Apr-09

500

500

 

1000

500

500

 

1000

10-Apr-09

8000

 

1000

9000

8000

 

1000

9000

17-Apr-09

8000

2000

 

10000

8000

2000

 

10000

24-Apr-09

8000

 

1000

9000

8000

 

1000

9000

1-May-09

8000

2000

 

10000

8000

2000

 

10000

8-May-09

8000

 

1000

9000

8000

 

1000

9000

15-May-09

5000

2000

 

7000

5000

2000

 

7000

22-May-09

5000

 

1000

6000

5000

 

1000

6000

29-May-09

5000

2000

 

7000

5000

2000

 

7000

5-Jun-09

4500

 

1000

5500

4500

 

1000

5500

12-Jun-09

5000

500

 

5500

5000

500

 

5500

19-Jun-09

5000

 

1000

6000

5000

 

1000

6000

26-Jun-09

5000

500

 

5500

5000

500

 

5500