Business Daily from THE HINDU group of publications
Thursday, Apr 17, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Apr 17, 2008 ePaper | Mobile/PDA Version | Audio |
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Markets
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Mutual Funds Money & Banking - Govt Bonds Our Bureau Mumbai, April 16 SEBI has decided to allow mutual funds to sell government securities contracted for purchase without taking delivery, in accordance with the guidelines issued by the RBI. This is subject to the transaction being guaranteed by an approved central counterparty, namely Clearing Corporation of India Ltd, said SEBI, in a statement. Mutual funds are currently not allowed to sell such securities contracted for purchase as SEBI regulations required them to take actual physical delivery of the securities. This decision by the SEBI board will put mutual funds on an equal footing with other market participants such as banks, primary dealers and insurance companies as they can now go in for net settlement of government securities transactions, said the release. More Stories on : Mutual Funds | Govt Bonds
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