November 10, 2016
All Scheduled Commercial Banks
(Excluding Regional Rural Banks),
Scheduled Urban Co-operative Banks and
Standalone Primary Dealers
Repo / Reverse Repo Transactions with RBI
Please refer to circular No. FMRD.DIRD.10/14.03.002/2015-16 dated May 19, 2016, on the captioned subject.
2. In this connection, it has been decided to start reckoning the market value of collateral securities for the purpose of RBI Repo (including MSF) and Reverse Repo operations and to allow re-repoing of securities received under RBI Reverse Repo operations with effect from November 26, 2016.
3. The detailed operational guidelines for the above is furnished in Annex. Participants are advised to make necessary operational arrangements to comply with the same.
4. Participation in the RBI Repo (including MSF)/ Reverse Repo would be construed as acceptance of the terms and conditions mentioned in this circular.