DBOD.No. FSC. BC. 91/24.76.002/98
September 7, 1998
Bhadra 16, 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 12.40 per cent Government Stock, 2013 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 12.40 per cent Government Stock,
2013 subject to the condition that :
i) the banks would undertake all
transactions of ready forward in 12.40 per cent Government Stock, 2013 only at
Mumbai.
ii) such transactions shall be
put through the Subsidiary General Ledger (SGL) Accounts.
(S. Gurumurthy)
Executive Director