NSE facilitates primary subscription for retail investors in State Development Loan auctions
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Date: 18-Nov-2019
Source: Various Publications
Times of India
NSE facilitates primary subscription for retail investors in State Development Loan auctions
PTI|18 November 2019
Leading bourse NSE on Monday said it has introduced facilitation of subscription in State Development Loans (SDLs) through its e-Gsec platform that will enable retail participation in securities issued by state governments.
The e-Gsec platform was launched by the National Stock Exchange (NSE) in April last year, to allow retail investors to invest in government securities and hold them in existing demat accounts.
SDLs are dated securities issued by state governments through normal auctions similar to the auctions conducted for dated securities issued by the central government.
The Reserve Bank of India (RBI) conducts auctions for such securities on a weekly basis where 10 per cent of the notified amount is allotted for eligible investors under the scheme for non-competitive bidding (NCB).
The interest on SDL is received at half-yearly intervals and the principal is repaid on the maturity date. The exchange acts as facilitator in NCB route to aggregate the bids received from retail investors and submits a single bid to RBI. The exchange has been offering G-sec and T-bills issued by central government from April 2018 to facilitate retail participation in these securities.
"NSE has been successfully facilitating retail participation in government securities through NSE e- Gsec platform for more than a year now. Adding SDLs in the current offerings will further add to the variety of investment avenues at NSE for greater retail participation in fixed income products," the exchange's MD and CEO Vikram Limaye said in a statement.
Limaye further said "NSE will continue to offer vanilla retail products leveraging on its robust technology and retail distribution capabilities".
NSE's wide presence and reach through its members along with investor awareness and education initiatives is likely to bring higher participation by retail in this asset class, helping issuers to diversify their investor base
Economic Times Economic Times
NSE facilitates primary subscription for retail investors in State Development Loan auctions
The interest on SDL is received at half-yearly intervals and the principal is repaid on the maturity date PTI|18 November 2019
Leading bourse NSE on Monday said it has introduced facilitation of subscription in State Development Loans (SDLs) through its e-Gsec platform that will enable retail participation in securities issued by state governments. The e-Gsec platform was launched by the National Stock Exchange (NSE) in April last year, to allow retail investors to invest in government securities and hold them in existing demat accounts.
SDLs are dated securities issued by state governments through normal auctions similar to the auctions conducted for dated securities issued by the central government.
The Reserve Bank of India (RBI) conducts auctions for such securities on a weekly basis where 10 per cent of the notified amount is allotted for eligible investors under the scheme for non-competitive bidding (NCB).
The interest on SDL is received at half-yearly intervals and the principal is repaid on the maturity date. The exchange acts as facilitator in NCB route to aggregate the bids received from retail investors and submits a single bid to RBI. The exchange has been offering G-sec and T-bills issued by central government from April 2018 to facilitate retail participation in these securities. "NSE has been successfully facilitating retail participation in government securities through NSE e-Gsec platform for more than a year now. Adding SDLs in the current offerings will further add to the variety of investment avenues at NSE for greater retail participation in fixed income products," the exchange's MD and CEO Vikram Limaye said in a statement. Limaye further said "NSE will continue to offer vanilla retail products leveraging on its robust technology and retail distribution capabilities". NSE's wide presence and reach through its members along with investor awareness and education initiatives is likely to bring higher participation by retail in this asset class, helping issuers to diversify their investor base, he noted.
Business Standard
NSE facilitates primary subscription for retail investors in SDL auctions
ANI|18 November 2019
National Stock Exchange of India Ltd (NSE) on Monday introduced facilitation of subscription in state development loans (SDLs) through its e-Gsec platform to enable retail participation through the non- competitive bidding route.
SDLs are dated securities issued by state governments through a normal auction similar to the auctions conducted for dated securities issued by the central government. The Reserve Bank of India (RBI) conducts auctions for SDLs on a weekly basis where 10 per cent of the notified amount is allotted for eligible investors under the scheme for non-competitive bidding.
The interest on SDL is received at half-yearly intervals and the principal is repaid on the maturity date. Like dated securities issued by the central government, SDLs issued by state governments also qualify for the statutory liquidity requirement of the banks.
The NCB facility was introduced by the RBI to encourage retail participation in the primary market for government securities and SDLs. NSE acts as a facilitator in NCB to aggregate the bids received from the retail investors and submits a single bid to RBI.
NSE has been offering G-sec and T-bills issued by the central government from April 2018 to facilitate retail participation in these securities. Going forward, SDLs will also be offered to retail investors through this facility.
"Adding SDLs in the current offerings will further add to the variety of investment avenues at NSE for greater retail participation in fixed income products," said NSE Managing Director and CEO Vikram Limaye.
"NSE will continue to offer vanilla retail products leveraging on its robust technology and retail distribution capabilities. NSE's wide presence and reach through its members along with investor awareness and education initiatives are likely to bring higher participation by retail in this asset class, helping issuers to diversify their investor base," he said in a statement.
NSE is a leading stock exchange in India and the second largest in the world by numbers of trades in equity shares. It has a fully-integrated business model comprising exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings.
Bloomberg Quint
NSE Facilitates Primary Subscription for Retail Investors in State Development Loan Auctions
PTI|18 November 2019
National Stock Exchange said it has introduced facilitation of subscription in State Development Loans through its e-Gsec platform that will enable retail participation in securities issued by state governments.
The e-Gsec platform was launched by the National Stock Exchange in April last year, to allow retail investors to invest in government securities and hold them in existing demat accounts.
SDLs are dated securities issued by state governments through normal auctions similar to the auctions conducted for dated securities issued by the central government.
The Reserve Bank of India conducts auctions for such securities on a weekly basis where 10 percent of the notified amount is allotted for eligible investors under the scheme for non-competitive bidding. The interest on SDL is received at half-yearly intervals and the principal is repaid on the maturity date. The exchange acts as facilitator in NCB route to aggregate the bids received from retail investors and submits a single bid to RBI. The exchange has been offering G-sec and T-bills issued by central government from April 2018 to facilitate retail participation in these securities.
NSE has been successfully facilitating retail participation in government securities through NSE e- Gsec platform for more than a year now. Adding SDLs in the current offerings will further add to the variety of investment avenues at NSE for greater retail participation in fixed income products. Vikram Limaye, Managing Director and CEO, NSE
Limaye further said "NSE will continue to offer vanilla retail products leveraging on its robust technology and retail distribution capabilities".
NSE's wide presence and reach through its members along with investor awareness and education initiatives is likely to bring higher participation by retail in this asset class, helping issuers to diversify their investor base, he noted.
Money Control
NSE facilitates primary subscription for retail investors in State Development Loan auctions
SDLs are dated securities issued by state governments through normal auctions similar to the auctions conducted for dated securities issued by the central government.
PTI|18 November 2019
Leading bourse NSE on Monday said it has introduced facilitation of subscription in State Development Loans (SDLs) through its e-Gsec platform that will enable retail participation in securities issued by
state governments. The e-Gsec platform was launched by the National Stock Exchange (NSE) in April last year, to allow retail investors to invest in government securities and hold them in existing demat accounts.
SDLs are dated securities issued by state governments through normal auctions similar to the auctions conducted for dated securities issued by the central government.
The Reserve Bank of India (RBI) conducts auctions for such securities on a weekly basis where 10 per cent of the notified amount is allotted for eligible investors under the scheme for non-competitive bidding (NCB).
The interest on SDL is received at half-yearly intervals and the principal is repaid on the maturity date. The exchange acts as facilitator in NCB route to aggregate the bids received from retail investors and submits a single bid to RBI. The exchange has been offering G-sec and T-bills issued by central government from April 2018 to facilitate retail participation in these securities.
"NSE has been successfully facilitating retail participation in government securities through NSE e- Gsec platform for more than a year now. Adding SDLs in the current offerings will further add to the variety of investment avenues at NSE for greater retail participation in fixed income products," the exchange's MD and CEO Vikram Limaye said in a statement.
Limaye further said "NSE will continue to offer vanilla retail products leveraging on its robust technology and retail distribution capabilities".
NSE's wide presence and reach through its members along with investor awareness and education initiatives is likely to bring higher participation by retail in this asset class, helping issuers to diversify their investor base, he noted.
Businessworld
NSE Facilitates Primary Subscription for Retail Investors in State Development Loan Auctions
SDLs are dated securities issued by State Governments through normal auction similar to the auctions conducted for dated securities issued by the Central Government.
Bureau|18 November 2019
National Stock Exchange of India Ltd (NSE), India’s leading stock exchange today introduced facilitation of subscription in State Development Loans (SDLs) through its e-Gsec platform to enable retail participation through the non-competitive bidding (NCB) route.
SDLs are dated securities issued by State Governments through normal auction similar to the auctions conducted for dated securities issued by the Central Government. The RBI conducts auctions for SDLs on a weekly basis where 10% of the notified amount is allotted for eligible investors under the scheme for non-competitive bidding. The interest on SDL is received at half-yearly intervals and the principal is repaid on the maturity date. Like dated securities issued by the Central Government, SDLs issued by the State Governments also qualify for statutory liquidity requirement of the banks.
The NCB facility was introduced by the Reserve Bank of India (RBI) to encourage retail participation in the primary market for Government securities and SDLs. NSE acts as facilitator in NCB to aggregate the bids received from the retail investors and submits a single bid to RBI. NSE has been offering G- sec and T-bills issued by central government from April 2018 to facilitate retail participation in these securities. Going forward, SDLs will also be offered to retail investors through this facility.
Vikram Limaye, MD & CEO, NSE said, “NSE has been successfully facilitating retail participation in government securities through NSE e-Gsec platform for more than a year now. Adding SDLs in the current offerings will further add to the variety of investment avenues at NSE for greater retail participation in fixed income products. NSE will continue to offer vanilla retail products leveraging on its robust technology and retail distribution capabilities. NSE’s wide presence and reach through its members along with investor awareness and education initiatives is likely to bring higher participation by retail in this asset class, helping issuers to diversify their investor base.”
Business Fortnight
NSE facilitates primary subscription for retail investors in State Development Loan auctions
Bureau|18 November 2019
National Stock Exchange of India Ltd (NSE), India’s leading stock exchange today introduced facilitation of subscription in State Development Loans (SDLs) through its e-Gsec platform to enable retail participation through the non-competitive bidding (NCB) route.
SDLs are dated securities issued by State Governments through a normal auction similar to the auctions conducted for dated securities issued by the Central Government. The RBI conducts auctions for SDLs on a weekly basis where 10% of the notified amount is allotted for eligible investors under the scheme for non-competitive bidding. The interest on SDL is received at half-yearly intervals and the principal is repaid on the maturity date. Like dated securities issued by the Central Government, SDLs issued by the State Governments also qualify for statutory liquidity requirement of the banks.
The NCB facility was introduced by the Reserve Bank of India (RBI) to encourage retail participation in the primary market for Government securities and SDLs. NSE acts as a facilitator in NCB to aggregate the bids received from the retail investors and submits a single bid to RBI. NSE has been offering G-sec and T-bills issued by the central government from April 2018 to facilitate retail participation in these securities. Going forward, SDLs will also be offered to retail investors through this facility.
Mr Vikram Limaye, MD & CEO, NSE said, “NSE has been successfully facilitating retail participation in government securities through NSE e-Gsec platform for more than a year now. Adding SDLs in the current offerings will further add to the variety of investment avenues at NSE for greater retail participation in fixed income products. NSE will continue to offer vanilla retail products leveraging on its robust technology and retail distribution capabilities. NSE’s wide presence and reach through its members along with investor awareness and education initiatives is likely to bring higher participation by retail in this asset class, helping issuers to diversify their investor base.”
Updated on: 22/11/2019
