RBI announces H2FY14 borrowing calendar

The Reserve Bank of India, in consultation with the government, has issued an indicative calendar for issuance of Government dated securities (G-Secs) for the second half of the fiscal year 2013-14 totalling Rs 2,35,000 crore. The H2 FY14 borrowing programme will close in the first week of February.

While 45 percent G-Sec to be sold will be of 10-14 years tenor, 25 percent will be of 5-9 years tenor, and 20 percent will be of 15-19 years tenor.

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All the auctions covered by the calendar will have the facility of non-competitive bidding scheme under which five percent of the notified amount will be reserved for the specified retail investors.

The Government of India/ Reserve Bank will continue to have the flexibility to bring about modifications in the calendar in terms of notified amount, issuance period, maturities etc and to issue different types of instruments depending upon the requirement, evolving market conditions and other relevant factors after giving due notice, an RBI release noted.