Government Securities Market

The Continuity Constant

 These include permission to gilt account holders to participate in repo market, issuance of guidelines for uniform accounting norms for repo and reverse repo transactions, facility for trading in the anonymous screen-based order driven system of stock exchanges and introduction of exchange-traded interest rate derivatives on the National Stock Exchange (NSE).

 With regard to operationalisation of STRIPS, RBI is in the process of drawing up the detailed specifications required for the development of software for stripping/reconstitution.

 In order to further develop the repo market and facilitate introduction of DVP III as preferred mode of settlement, the issue relating to roll-over of repos was discussed in the TAC recently. In this direction, the following further measure is proposed:

 Sale of gilts