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Mumbai, July 20 Clearing corporations of stock exchanges can now accept foreign sovereign securities with AAA rating as collaterals from FIIs, for their transactions in the derivatives segment. RBI has notified this in consultation with the Government of India and SEBI.

The clearing corporations can open and maintain demat accounts with foreign depositories and acquire, hold, pledge and transfer the foreign sovereign securities, offered as collateral by FIIs, said an RBI notification.

The clearing corporations will be able to remit the proceeds arising from corporate action, if any, on such foreign sovereign securities. They can also liquidate such foreign sovereign securities if needed.

More Stories on : Foreign Institutional Investors | Derivatives Markets

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