A government security (G-Sec) is a tradable debt instrument issued by the government. Short term G-Sec are called Treasury bills (T-bills) with maturities of less than one year, while long term G-Sec are called government bonds or dated securities with maturity of one year or more. They are also called risk-free gilt-edged instruments since they are issued by the government and carry no risk of default. Major participants in the G-Sec market include commercial banks, primary dealers, insurance companies, co-operative banks, mutual funds, provident and pension funds. FPIs are allowed to participate in G-sec within the prescribed quantitative limits.