CAPITAL MARKET DIVISION |
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Issue of Foreign Currency Exchangeable Bonds Draft Revised Investment Pattern for non-government provident funds, superannuation funds and gratuity funds
CORRIGENDUM to draft Revised Investment Pattern for non-government provident funds, superannuation funds and gratuity funds
RECENT DEVELOPMENTS * Negotiated Dealing System –Electronic Order Matching (NDS-OM) Launched * Mumbai as a centre for international finance * Corporate Bond Markets * When issued market for Government Securities * Anti-Money Laundering Guidelines * Introduction of Gold Exchange Traded Fund schemes by Mutual Fund * Pension Reforms Negotiated Dealing System –Electronic Order Matching (NDS-OM) LaunchedOn August 1, 2005, RBI launched the electronic order matching system for trading in government securities on its Negotiated Trading System. In the first phase, RBI-regulated entities, banks and primary dealers were allowed to trade on the system. The system was extended to all insurance entities in January.2006. The Union Budget, 2006-07 announced the extension of the NDS-OM module to qualified mutual funds (MFs), provident funds and pension funds. Accordingly, the RBI, in its Credit Policy Statement announced on 18th April, 2006 has proposed : • to permit MFs, which are NDS members, to access the NDS-OM module with immediate effect. Other MFs would be permitted access by opening temporary current/SGL accounts with the Reserve Bank. • to permit large pension/provident funds like CBOT/Seamens’/Coal Miners’ funds to access the NDS-OM module by opening temporary current/SGL accounts with the Reserve Bank. The smaller funds would be allowed access through the CSGL route.These arrangements are being made on a temporary basis to enable immediate access to new participants to the NDS-OM module. Meanwhile, software is being developed to shift all entities, other than banks and PDs, which access NDS-OM from current accounts with the... [continues]
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Issue of Foreign Currency Exchangeable Bonds Draft Revised Investment Pattern for non-government provident funds, superannuation funds and gratuity funds
CORRIGENDUM to draft Revised Investment Pattern for non-government provident funds, superannuation funds and gratuity funds
RECENT DEVELOPMENTS * Negotiated Dealing System –Electronic Order Matching (NDS-OM) Launched * Mumbai as a centre for international finance * Corporate Bond Markets * When issued market for Government Securities * Anti-Money Laundering Guidelines * Introduction of Gold Exchange Traded Fund schemes by Mutual Fund * Pension Reforms Negotiated Dealing System –Electronic Order Matching (NDS-OM) LaunchedOn August 1, 2005, RBI launched the electronic order matching system for trading in government securities on its Negotiated Trading System. In the first phase, RBI-regulated entities, banks and primary dealers were allowed to trade on the system. The system was extended to all insurance entities in January.2006. The Union Budget, 2006-07 announced the extension of the NDS-OM module to qualified mutual funds (MFs), provident funds and pension funds. Accordingly, the RBI, in its Credit Policy Statement announced on 18th April, 2006 has proposed : • to permit MFs, which are NDS members, to access the NDS-OM module with immediate effect. Other MFs would be permitted access by opening temporary current/SGL accounts with the Reserve Bank. • to permit large pension/provident funds like CBOT/Seamens’/Coal Miners’ funds to access the NDS-OM module by opening temporary current/SGL accounts with the Reserve Bank. The smaller funds would be allowed access through the CSGL route.These arrangements are being made on a temporary basis to enable immediate access to new participants to the NDS-OM module. Meanwhile, software is being developed to shift all entities, other than banks and PDs, which access NDS-OM from current accounts with the... [continues]
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