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. Accordingly, the notified amounts of the T-Bills for the first quarter will be as given in the Annex.
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.
Government of India
Ministry of Finance
Department of Economic Affairs
North Block, New Delhi - 110001
Dated March 31, 2009
Annex
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 |
