Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: TDS :: due date for vat payment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: articles on VAT and GST in India
 
 
Latest Circulars »
 RBI-Information from Unauthenticated Sources – Advisory to banks
 RBI-Aadhaar-based Authentication for Card Present Transactions
 RBI-External Commercial Borrowings (ECB)
 Issuance of 28 days Cash Management Bills under Market Stabilisation Scheme (MSS)
 Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 All You wanted to know from RBI about: Withdrawal of Legal Tender Status of ₹ 500 and ₹ 1000 Notes
 Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit
 Withdrawal of Legal Tender status of banknotes of ₹ 500 and ₹ 1000: Activity at Banks during November 10-27, 2016
 Reserve Bank of India Act, 1934 – Section 42(1A) Requirement for maintaining additional CRR
 Chest Guarantee Scheme for Specified Bank Notes (SBNs) - CGSS
 Quarterly Projection Model for India: Key Elements and Properties

RBI-When Issued transactions in Central Government Securities
December, 11th 2015

RBI/2015-16/265
FMRD.DIRD.06/14.03.07/2015-16

December 10, 2015

All NDS-OM Members

When Issued transactions in Central Government Securities

A reference is invited to the RBI circular IDMD.No/3426/11.01.01 (D)/2005-06 dated May 3, 2006, as updated vide circulars IDMD.No/2130/11/01.01 (D)/2006-07 dated November 16, 2006 and IDMD.DOD.No.3166/11/01. 01(B)/2007-08 dated January 1, 2008.

2. In terms of announcement made in paragraph 35 of the Fourth Bi-monthly Monetary Policy Statement, 2015-16 announced on September 29, 2015, it has been decided to permit the scheduled commercial banks to take short positions in the “When Issued” (WI) market for both new and reissued securities. It has also been decided to permit other eligible entities viz., mutual funds, insurance companies, pension funds, housing finance companies, NBFCs and UCBs to take long position in the ‘WI’ market.

3. Accordingly, the open position limits in the WI market have been revised and will be subject to the following limits both in case of new securities as well as reissued securities:

Category Limits
Long Short
Primary Dealers and scheduled commercial banks No limits Not exceeding 5 per cent of the notified amount
Other eligible entities No Limits Not Permitted

4. Further, aggregate net short positions (sum of all net short positions across all entities) in a new security will be capped at 90% of the notified amount and the same will be monitored on NDS-OM.

5. In case an entity with a net short position is unable to deliver securities after the auction on the settlement date, the transaction will be settled as per the default settlement mechanism of CCIL.

6. The requirement of reporting WI transactions on a daily basis stands discontinued. All other terms and conditions prescribed in the circulars, ibid, remain unchanged.

7. The above changes would be subject to review.

Yours faithfully

(R. Subramanian)
Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions