How long will it take for allotment of G-secs i.e what is the settlement time?
You will receive the securities within 5 days of the auction date. [T-bill auction happens on Wednesdays of the auction week & G-bonds auction happens on Fridays of the auction week]. The settlement date of the current and past issues can be checked here on the NSE website.
These securities are issued for limited amounts and there is no guarantee of allotment if the number of bids received is higher than the issue size. However, if you fail to get an allotment, you can try again next week. RBI carries out multiple issues a month. Refer to this article to know the upcoming schedule for T-bills & G-bonds.