Financial Daily from THE HINDU group of publications
Saturday, Sep 24, 2005
Financial Daily from THE HINDU group of publications Saturday, Sep 24, 2005 |
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Money & Banking
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Govt Bonds No outright trading in G-Secs on Saturdays from Oct 8 Our Bureau
Mumbai , Sept 23. THERE will be no outright transactions in G-Secs on Saturdays, starting from October 8, the Reserve Bank of India announced on Friday. The G-Secs traded on Friday on T+1 basis would be settled on Monday or on the next working day in case Monday is a holiday. In a press release, the RBI said this was a long-standing demand of market participants as well as representative bodies. The demand by the Fixed Income Money Market and Derivatives Association of India and the Primary Dealers Association of India was approved by the Technical Advisory Committee on money, foreign exchange and government securities at its meeting today. Transactions in call, notice or term money, collateralised borrowing and lending obligations and repos among market operations would continue to be done on Saturdays, as is being done now, the release said. The negotiated dealing system, clearing and real time gross settlement system would also operate as usual.
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