January 04, 2022<\/p>\n\n\n\n
All Primary Dealers<\/p>\n\n\n\n
Dear Sir\/Madam<\/p>\n\n\n\n
RBI Retail Direct Scheme has been launched on November 12, 2021<\/strong> for providing onestop access to facilitate investment in Government Securities by retail investors. In this connection, to provide liquidity in the secondary market, a market making arrangement, wherein the Primary Dealers shall be present on the NDS-OM platform (odd-lot and Request for Quotes segments) throughout market hours and respond to buy\/sell requests from Retail Direct Gilt Account Holders (RDGAHs), is enclosed as Annex.<\/strong><\/p>\n\n\n\n Yours faithfully<\/p>\n\n\n\n RBI Retail Direct Scheme \u2013 Market Making<\/strong><\/p>\n\n\n\n In exercise of the powers conferred under Section 29(2) of the Government Securities Act 2006, the Reserve Bank of India, hereby, issues the following Market Making Scheme:<\/p>\n\n\n\n To promote retail participation in Government Securities by providing prices\/quotes to Retail Direct Gilt (RDG) account holders enabling them to buy\/sell securities under the RBI Retail Direct Scheme.<\/p>\n\n\n\n 2.<\/strong> Definitions<\/strong><\/p>\n\n\n\n In this scheme, unless the context otherwise requires:<\/p>\n\n\n\n a. \u201cGovernment Securities\u201d, for the purpose of this scheme, mean securities issued in form of stock by credit to SGL\/CSGL account maintained with RBI as defined under Section 3(iii) of Government Securities Act, 2006;<\/p>\n\n\n\n b. \u201cLiquid Securities\u201d means a security identified and published by Fixed Income Money Market and Derivatives Association of India (FIMMDA)\/ Financial Benchmarks India Limited (FBIL) as a \u2018liquid security\u2019 for the purpose of short c. \u201cNDS-OM\u201d or Negotiated Dealing Segment \u2013 Order Matching means RBI\u2019s screen based, anonymous electronic order matching system for trading in Government Securities in the secondary market;<\/p>\n\n\n\n d. \u201cOdd-lot segment\u201d refers to the odd-lot segment of NDS-OM;<\/p>\n\n\n\n e. \u201cPrimary Dealers\u201d means entities authorized by RBI to undertake primary dealership activities in Government Securities;<\/p>\n\n\n\n f. \u201cRequest for Quotes (RFQ) segment\u201d refers to the on-screen negotiation system of RBI\u2019s NDS-OM system;<\/p>\n\n\n\n g. \u201cRetail Direct Gilt (RDG) Account\u201d means gilt account maintained in the books of RBI under the Retail Direct Scheme;<\/p>\n\n\n\n h. \u201cRetail Direct Scheme\u201d refers to the RBI Retail Direct scheme formulated to facilitate investment in Government Securities by individual investors.<\/p>\n\n\n\n
(Latha Vishwanath)
General Manager
Encl: as above<\/p>\n\n\n\n
sale transactions.<\/p>\n\n\n\n