Money & Banking

RBI removes stipulations on Govt securities

| | Updated on: Aug 28, 2014

The Reserve Bank of India has decided to remove any stipulations in matter regarding the manner of acquisition of government securities by eligible investors.

This is to provide the investors flexibility with respect to which government securities can be acquired.

Consequently, the eligible investors can acquire such securities in any manner as per the prevalent/approved market practice, the central bank said in a notification too banks authorised to deal in foreign exchange.

Hitherto, eligible investors: SEBI registered Foreign Institutional Investors, Qualified Foreign Investors, registered Foreign Portfolio Investors and long term investors registered with SEBI, could purchase eligible government securities directly from the issuer of such securities or through registered stock broker on a recognised Stock Exchange in India.

Published on August 28, 2014

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