Financial Daily from THE HINDU group of publications
Thursday, Aug 26, 2004
Financial Daily from THE HINDU group of publications Thursday, Aug 26, 2004 |
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Markets
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Regulatory Bodies & Rulings Primary dealers must hold equity in demat: RBI Our Bureau
Mumbai , Aug. 25 PRIMARY dealers in Government securities should hold all their equity investments only in the dematerialised form by the end of December 2004, said a RBI release. The RBI decided this in consultation with SEBI and advised primary dealers to convert all their equity holdings in scrip form to the dematerialised form by December 31, 2004. The dealers must make all fresh investments only in the dematerialised form from that date, said the release. In a RBI circular dated September 18, 2001, it was advised that from October 31, 2001, primary dealers must make fresh investments and hold bonds and debentures only in the dematerialised form. Outstanding investments in scrip forms should also be converted into dematerialised form by June 30, 2002.
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