Daily Archives: January 4, 2024

RBI revises norms for issuance of commercial Papers(CP) and Non-Convertible Debentures (NCD)

The Reserve Bank of India (RBI) in its Notification No.FMRD.DIRD.10/14.02.001/2023-24 dated January 03, 2024, introduced certain changes in the Master Direction norms relating to Commercial Paper and Non-Convertible Debentures of original or initial maturity up to one year. The new direction is effective from April 1, 2024. Commercial Paper (CP) is an unsecured money market…

Role of Primary Dealers (PDs) in India

Primary dealers are registered entities with the RBI who have the license to purchase and sell government securities. Primary Dealers can also be referred to as Merchant Bankers for the Government of India as only they are allowed to underwrite primary issues of government. RBI issues government securities of the Government. A primary dealer buys…