Delhi HC: Woman's Right to a Shared Household Does Not Allow Indefinite Occupation of In-Laws' Home  ||  Delhi HC: Director Disputes in a Company Do Not Qualify as Genuine Hardship to Delay ITR Filing  ||  Delhi HC: ECI Cannot Resolve Internal Disputes of Unrecognised Parties; Civil Court Must Decide  ||  Bombay High Court: Senior Citizens Act Cannot be Misused to Summarily Evict a Son  ||  Chhattisgarh HC: Service Tax Refund Can't Be Denied on Limitation When Payment Was Made During Probe  ||  Supreme Court: If Tribunal Ends Case For Unpaid Fees, Parties Must Seek Recall Before Using S.14(2)  ||  SC: Article 226 Writs Jurisdiction Cannot be Used to Challenge Economic or Fiscal Reforms  ||  Supreme Court: Hostile Witness Testimony Can't Be Discarded; Consistent Parts Remain Valid  ||  Supreme Court: GPF Nomination in Favour of a Parent Becomes Invalid Once the Employee Marries  ||  Supreme Court: Candidate Not Disqualified if Core Subject Studied Without Exact Degree Title    

Guidelines on Stripping/Reconstitution of Government Securities- (Reserve Bank of India) (03 May 2018)

MANU/IDMC/0008/2018

Banking

1. Please refer to paragraph 7 of the Statement on Regulatory and Developmental Policies announced on April 5, 2018 regarding review of the mechanism of the Separate Trading of Registered Interest and Principal of Securities (STRIPS) which was introduced w.e.f. April 1, 2010.

2. With a view to meeting the diverse needs of investors and making Separate Trading of Registered Interest and Principal of Securities (STRIPS) more aligned with market requirements, it has been decided to revise the existing guidelines. Accordingly, it is proposed to remove the restrictions on the securities eligible for Stripping/Reconstitution as well as the requirement of authorization of all requests for Stripping/Reconstitution by Primary Dealers (PDs).

3. In view of the above, in partial modification of the existing instructions issued vide our Notification IDMD.1762/2009-10 dated October 16, 2009 read with our circular IDMD.DOD.07/11.01.09/2009-10 dated March 25, 2010, it is specified as under:

Eligible Securities

(a) All fixed coupon securities issued by Government of India, irrespective of the year of maturity, are eligible for Stripping/Reconstitution, provided that:

(i) The securities are reckoned as eligible investment for the purpose of Statutory Liquidity Ratio (SLR).

(ii) The securities are transferable.

Placing of Requests

(b) Market participants, having an SGL account with RBI can place requests directly in e-kuber for stripping/reconstitution.

(c) Requests for stripping/reconstitution by Gilt Account Holders (GAH) shall be placed with the respective Custodian maintaining the CSGL account, who in turn, will place the requests on behalf of its constituents in e-kuber.

4. The notification to the above effect dated April 25, 2018 is enclosed.

Tags : RECONSTITUTION   GOVERNMENT SECURITIES   GUIDELINES  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved