14. Debt
Government
securities
Central Govt.
State Govt.
Public sector
Bonds
Govt. agencies/
Statutory Bodies
Public sector
units
Private sector
Bonds
Corporate
Banks
Financial
Saturday, August 29, 2014 institutions
15. Issuer Instruments Maturity Investors
Central Government Dated Securities 2-30 years RBI, Banks, Insurance co, PF, MF,
PDs.
Central Government T-Bills 91/182/364 days RBI, Banks, Insurance co, PF, MF,
PDs, Individuals.
State Government Dated Securities 5-13 years RBI, Banks, Insurance co, PF, MF,
PDs, Individuals.
PSUs Bonds, Structured
Obligations
5-10 years Banks, Insurance co, PF, MF, PDs,
Individuals, Corporates.
Corporates Debentures 1-12 years Banks, MF, Individuals, Corporates.
Corporates, PDs Commercial Paper 7days -1 year Banks, MF, Individuals, Corporates,
FII, financial Institutions
Banks Certificates of
Deposits
7days -1 year
1-3year(FIs)
Banks, Individuals, Corporates, FII,
FI, Trusts, Association, NRI
Banks Banks Bonds 1-10 years Individuals, Corporates, Trusts,
Association, NRI
Municipal
corporation
Municipal Bonds 0-7 years Banks, Individuals, Corporates, FI,
Trusts, Association, NRI
Source : NSE Publications
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21. While 91-day T-bills are auctioned every week on Wednesdays, 182-day and 364-
day T-bills are auctioned every alternate week on Wednesdays. The Reserve Bank
of India issues a quarterly calendar of T-bill auctions.
T-bills auctions are held on the Negotiated Dealing System (NDS) and the members
electronically submit their bids on the system. Non-competitive bids are routed
through the respective custodians or any bank or PD which is an NDS member.
Type of T-bills Day of Auction Day of Payment
91-day Wednesday Following Friday
182-day Wednesday of non-reporting week Following Friday
364-day Wednesday of reporting week Following Friday
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24. • A wide range of maturities from 91 days to as long as
30 years.
• Sold easily in the secondary market to meet cash
requirements.
• G-Secs can also be used as collateral to borrow funds
in the repo market.
• Zero default risk being sovereign paper
