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TMI BlogTo prevent undesirable speculation in securities in the whole of India.X X X X Extracts X X X X X X X X Extracts X X X X ..... n the territory to which that Act extends, shall, enter into any- 1[(1) contract for the sale or purchase of Government Securities, gold related securities and money market securities, other than: a) spot delivery contracts, b) such other contracts traded on a recognised stock exchange as is permissible under the said Act, rules and bye-laws of such stock exchange, or c) any other contract specifically permitted in this regard by the Reserve Bank of India, from time to time.] (2) Ready forward contracts in bonds, debentures, debenture stock, securitised debt, and other debt securities issued by any person including any body corporate established by or under a Central or State Act : Provided that ready forward contracts may be en ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... curities and Exchange Board of India under the said Acts; (b) the rules made or guidelines or directions issued under the Reserve Bank India Act, 1934 (2 of 1934) or the Banking Regulation Act, 1949 (10 of 1949) or the Foreign Exchange Management Act, 1999 (42 of 1999) by the Reserve Bank of India; and (c) the provisions contained in the notifications issued by the Reserve Bank of India under the Securities Contracts (Regulation) Act, 1956 (42 of 1956). Explanation : For the purpose of this notification- I. "scheduled bank" means a bank included in the second schedule of Reserve Bank of India Act; 1934. II. "non-banking financial company" means a company as defined in clause (1) of Section 45-I of the Reserve Bank of India Act, 1934 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned in clause (zg) of section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002). IX. "securitized debt instruments" means securities of the nature referred to in sub-clause (ie) of clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956). This notification is issued by Reserve Bank of India, in supersession of the notification No. S.O. 551 (E), dated April 17, 2006 issued by it. [IDMD No. 06/2009-10/F.No. 1/8/SM/2010] H. R. KHAN, Executive Director *************** NOTES:- 1. Substituted vide F. No. FMRD.DIRD.14/14.03.042/2024-25 dated 07-02-2025 before it was read as, "(1) contract for the sale or-pur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... olding a Gilt account with any person permitted by Reserve Bank of India to maintain Constituent Subsidiary General Ledger account with Public Debt Office of the Reserve Bank of India; or (c) any other person specifically permitted by Reserve Bank of India, holding a Gilt account with any person permitted by Reserve Bank of India to maintain Constituent Subsidiary' General Ledger account with Public Debt Office of the Reserve Bank of India. (iii) Provided further that no ready forward contracts may be entered into between two persons both maintaining Gilt accounts with same person maintaining Constituent Subsidiary General Ledger account with the Public Debt Office of the Reserve Bank of India. (iv) Provided further that no ready forw ..... X X X X Extracts X X X X X X X X Extracts X X X X
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