DBOD.No. FSC. BC. 95/24.76.002/98
September 21, 1998
Bhadra 30, 1920 (Saka)
Ready Forward Transactions
As the Reserve Bank of India,
(hereinafter referred to as 'the Bank') has in terms of Notification No.S.O.
2561 dated June 27, 1969, as amended vide Notification No. S.O. 425(E) dated June 1, 1994 and issued by the Central
Government in exercise of the powers conferred by sub-section (1) of Section 16
of the Securities Contracts (Regulation) Act, 1956, approved the following two
Government dated securities for the purpose of ready forward contracts, the
Bank in exercise of its powers conferred by Section 35A of the Banking Regulation
Act, 1949 and being satisfied that it is necessary in the public interest so to
do, hereby permits the banks to undertake ready forward deals in the said
Government securities subject to the condition that :
i) the banks would undertake all
transactions of ready forward in the said two Government securities only at
Mumbai.
ii) such transactions shall be
put through the Subsidiary General Ledger (SGL) Accounts.
11.98 per cent Government Stock, 2004
12.25 per cent Government Stock,
2008
(S. Gurumurthy)
Executive Director