The revised guidelines prescribe a seasoning requirement of at least one year prior to submission of application, reasonable experience in G-Sec market with at least 15 per cent of their assets and turnover in G-Sec and a commitment to achieve a minimum turnover of 75 per cent of their minimum NOF in G-Sec on behalf of retail/mid segment clients.
We expect the PDs would continue to support the market borrowing programmes, act as market makers by providing fillip to secondary markets and retail investors and proactively deal in the financial products such as CDS, IRF, etc. Reserve Bank is also exploring the possibility of enabling banks/PDs to make markets in corporate bonds through appropriate supportive measures.