Participation of Foreign Portfolio
Investors (FPIs) in Government securities on NDS-OM platform
|
RBI/2016-17/86 October
20, 2016 All SGL/CSGL Account holders Dear Sir/Madam, Participation of Foreign Portfolio
Investors (FPIs) in Government securities on NDS-OM platform In terms of RBI circular FMRD.DIRD.06/14.03.007/2014-15 dated March 20, 2015,
FPIs are currently permitted to transact in the Over-The-Counter (OTC) market
for Government securities with T+2 settlement. 2. As announced in paragraph 36 of
the First Bi-monthly Monetary Policy Statement
for the year 2016-17 on April 5, 2016, it has been decided to allow
FPIs to trade Government securities in the secondary market through the
primary members of NDS-OM including the Web-module. The primary members of
NDS-OM shall be responsible for settlement of the trades, which will be on
T+1 basis. This facility will become available with effect from December 1,
2016. 3. The existing OTC route with T+2
settlement shall continue to be available to FPIs and subject to review. 4. All other terms and conditions
prescribed in the circular, ibid, remain the same. Yours
faithfully, (T.
Rabi Sankar) |
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