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Monday , 21 August 2017
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SEBI gives nod to BSE on non-competitive bidding

Mumbai, Aug 1 (IANS) The BSE on Tuesday said it has got no-objection nod from securities markets regulator SEBI to act as a facilitator in non-competitive bidding (NCB).

Securities and Exchange Board of India (SEBI) go-ahead will facilitate the stock exchange major to act as a facilitator in the auction of government securities and treasury bills (T-bills) through exchange mechanism, a BSE statement said.

This facility will provide retail investors an avenue to participate in government securities market, it said.

The NCB in government securities, introduced by the Reserve Bank of India in January 2002, is open to individuals, Hindu undivided families, regional rural banks, cooperative banks, firms, companies, corporate bodies, institutions, provident funds, and trusts.

“Under the scheme, eligible investors apply for a certain amount of securities in an auction without mentioning price/yield,” the statement said.

“However, the NCB has failed to attract the retail investors and the penetration of government securities continues to be low.”

The statement said the BSE had earlier received in-principle approval from the RBI on January 6 to act as facilitator for retail investors, including individuals, for participating in NCB facility in the auction of government securities and T-bills.

–IANS
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Post Source: Ians feed

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