The Reserve Bank of India has just issued (I mean I just saw it at 9.30pm) a circular signed by its CGM – Alpana Killawala. This says the investigation of the cobrapost.com episode (where they had showed bankers talking about money laundering) will be over by 31st March, 2013. Great. The investigation will exonerate […]
Some debt market basics….largely meant for the MBA (finance) students: What is a Negotiated Market? deals that have been done by negotiation, executed -but REPORTED on the trading system – for approval of the exchange is called a negotiated market deal. What is a when-issued market? it refers to the security being permitted for trading […]
The Central Government have specified bonds to be issued by (i) Industrial Finance Corporation of India;( IFCI ) (ii) Life Insurance Corporation of India; (L I C) (iii) Infrastructure Development Finance Company Limited; and ( I D F C) (iv) a Non-Banking Finance Company classified as an infrastructure finance company by the Reserve Bank of […]
CSGL Account stands for Constituent Subsidiary General Ledger Account (phew!). Certain SGL holders like corporates, PF trusts, individuals, institutions, state governments, Nri, Ocbs, FIIs, – registered with Sebi/Rbi can open a CSGL account but not a SGL account. It is a second SGL account at a PDO so that they can act as a custodian […]
Cash Reserve Ratio (CRR) is a regulatory reserve requirement under section 42(1) of the Reserve Bank of India Act, 1934 which is to be maintained as CASH or CURRENT ACCOUNT balances with Reserve Bank of India, along with gold by all Scheduled Commercial Banks as a percentage of its Net Demand and Time Liabilities (NDTL). […]