last week,Rmg gave me a code to fill timesheet which describes that working in a project waiting for allocation, doesthat mean i am on bench

In the same situation.if project says allocation will come, but filling timesheet with unallocated swon.at this point of time should I start to search project outside? There was no official project release mail.

Unfortunately, yes. When you don't have a billable project, or a WON is still in progress or there's a temporary budget issue, the PMO/RMG will provide a location-based unallocated WON to fill the timesheet.

So depends on your current condition

It's project bench right? you are not billable and hence burden to TCS