As announced in the First B-monthly Monetary Policy Statement, 2015–16, Reserve Bank is working along with the depositories to implement a seamless transfer of securities among depositories and RBI SGL which would effectively lead to an integrated depository system for G-Secs. This would greatly facilitate transaction on the exchanges between a SGL-account holder and non-SGL account holder. V.  New products  36.
Permitting introduction of new products in OTC as well as exchange traded space has always been a mutually consultative process between the Reserve Bank of India and the market participants. However, the approach adopted for introduction of interest rate options (IRO), I can, say, marks a fundamental departure.