RBI Issues Updated General Notification for G-Sec Issuance
Current · Source: Reserve Bank of India · RBI/2024-25/133 · issued 27 Mar 2025 · ~1 min read
Quick answerRBI has issued a new General Notification in March 2025 that replaces the 2018 notifications governing the sale of government securities, Treasury Bills and Cash Management Bills, updating the primary market auction framework.
The rule, in the simplest words
The RBI has updated the General Notification for G-Sec issuance in March 2025.
Banks and primary dealers must align their auction participation and documentation with the updated 2025 General Notification.
The updated notification may involve revised terms, conditions, or procedural details for G-Sec issuance.
How it plays out — a real example
As a treasury officer, I need to review the updated General Notification for any changes in auction terms or conditions. I will then update our internal compliance and operational procedures for G-Sec, T-Bill, and CMB auctions accordingly, ensuring all relevant teams are aware of the supersession of the 2018 notifications.
What changed
The Government of India released a fresh General Notification on 26 March 2025, superseding the earlier March 27 2018 notifications for the issuance of government securities, Treasury Bills and Cash Management Bills. The RBI circular circulates this updated notice to all market participants.
What it means for you
Banks and primary dealers must align their auction participation and documentation with the updated 2025 General Notification. The supersession of the 2018 notifications may involve revised terms, conditions, or procedural details for G-Sec issuance, though the circular does not specify the exact changes.
What you must do
Review the enclosed 2025 General Notification from the Government of India for any changes in auction terms or conditions.
Update internal compliance and operational procedures for G-Sec, T-Bill, and CMB auctions accordingly.
Ensure all relevant teams (treasury, legal, compliance) are aware of the supersession of the 2018 notifications.
Who it affects
All participants in the Government Securities market, Primary dealers, Banks and financial institutions dealing in G-Secs, Treasury departments of scheduled commercial banks
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
What is the effective date of the new General Notification?
The new General Notification is dated March 26, 2025, and supersedes the earlier notifications from March 27, 2018. The RBI circular was issued on March 27, 2025.
Does this notification change auction procedures for Treasury Bills?
The circular does not detail specific procedural changes. It only states that the new notification supersedes the previous ones. Participants should refer to the enclosed Government notification for any revised terms.
Do I need to re-register or update my participation in G-Sec auctions?
The circular does not mention any re-registration requirement. However, you should verify with the enclosed notification if any new eligibility or documentation conditions apply.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
📜 Read the original circular — full text as issued by RBI
RBI/2024-25/133
Ref.No.IDMD.2320/08.01.01/2024-25
March 27, 2025
All participants in the Government Securities market.
Madam/Sir,
General Notification for Sale and Issue of Government of India Securities (including Treasury Bills and Cash Management Bills)
Please refer to our circulars IDMD.2592/08.01.01/2017-18 dated April 09, 2018 , forwarding therewith a copy of the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 issued by the Government of India for sale of Government of India Securities, and IDMD.2593/08.01.01/2017-18 dated April 09, 2018 , forwarding therewith a copy of the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 issued by the Government of India for sale of Government of India Treasury Bills/Cash Management Bills by auction.
3. Government of India have now issued the General Notification F.No.4(2)-B(W&M)/2018 dated March 26, 2025 , for sale and issue of Government of India Securities (including Treasury Bills and Cash Management Bills) in supersession of the above-mentioned General Notifications, a copy of which is enclosed.
Yours faithfully,
(Dr. Sudarsana Sahoo)
General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2024-25/133 · issued 27 Mar 2025. The plain-English explanation above is BankPulse’s own independent summary.
Example: if you are a Compliance officer at a bank this circular applies to (All participants in the Government Securities market, Primary dealers, Banks and financial institutions dealing in G-Secs, Treasury departments of scheduled commercial banks), your first concrete step on “RBI Issues Updated General Notification for G-Sec Issuance” is: “Review the enclosed 2025 General Notification from the Government of India for any changes in auction terms or conditions.” (RBI issued this 27 Mar 2025).
Circular: RBI/2024-25/133 -- RBI Issues Updated General Notification for G-Sec Issuance
Issued: 27 Mar 2025
Action required: Review the enclosed 2025 General Notification from the Government of India for any changes in auction terms or conditions.
Action required: Update internal compliance and operational procedures for G-Sec, T-Bill, and CMB auctions accordingly.
Action required: Ensure all relevant teams (treasury, legal, compliance) are aware of the supersession of the 2018 notifications.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12802&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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