Reserve Bank of India

In exercise of the powers conferred vide explanation to subsection 2 of section 11 read with clause

Issue Date: 30 May 2025 Published: 30 May 2025

Gazette ID: CG-MH-E-30052025-263478 Download PDF

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Core Purpose

Notification amending the Reserve Bank of India notification IDMD No. 1762/ 2009-10 dated October 16, 2009 regarding Separate Trading of Registered Interest and Principal of Securities (STRIPS).

Detailed Summary

The Reserve Bank of India, in exercise of powers conferred by the Government Securities Act, 2006 (explanation to sub-section (2) of section 11 read with clause (i) of section 2), hereby makes amendments to its notification IDMD No. 1762/ 2009-10 dated October 16, 2009 concerning Government Securities – Separate Trading of Registered Interest and Principal of Securities (STRIPS). The amendments substitute clause (1) and clause (2) in section II of the original notification. Clause (1) is amended to replace the words “PDO-NDS (Negotiated Dealing System)" with "Reserve Bank of India Core Banking Solution (e-Kuber System)". Clause (2) is substituted to specify that (a) all fixed coupon securities issued by the Government of India, irrespective of the year of maturity, shall be eligible for Stripping/Reconstitution, and (b) all fixed coupon securities issued by a State Government/Union Territory, having a residual maturity of up to 14 years and minimum outstanding of ₹1,000 crore as on the day of stripping, shall be eligible. A proviso is added stating that the eligible Government securities must be reckoned as eligible investment for the purpose of Statutory Liquidity Ratio (SLR) and be transferable. This notification was issued by Ajay Kumar, Executive Director, and dated May 29, 2025, published in the Gazette on May 30, 2025.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-MH-E-30052025-263478 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No. 405] NEW DELHI, FRIDAY, MAY 30, 2025/JYAISTHA 9, 1947 RESERVE BANK OF INDIA NOTIFICATION Mumbai, the 29th May, 2025 Government Securities – Separate Trading of Registered Interest and Principal of Securities (STRIPS) (Amendment) F. No. IDMD. No. S321/10.18.060 /2025-26.-In exercise of the powers conferred vide explanation to sub-section (2) of section 11 read with clause (i) of section 2 of the Government Securities Act, 2006, the Reserve Bank of India, hereby, makes the following amendment in notification IDMD No. 1762/ 2009-10 dated October 16, 2009, namely: - A. In section II, for clause (1), for the words “PDO-NDS (Negotiated Dealing System)", the words "Reserve Bank of India Core Banking Solution (e-Kuber System)" shall be substituted. B. In section II, for clause (2), the following shall be substituted: - "2. (a) All fixed coupon securities issued by the Government of India, irrespective of the year of maturity, shall be eligible for Stripping/Reconstitution; and (b) All fixed coupon securities issued by a State Government/Union Territory, having a residual maturity of up to 14 years and minimum outstanding of ₹1,000 crore as on the day of stripping, shall be eligible for Stripping: Provided that the Government securities referred to in sub-clauses (a) and (b) are reckoned as eligible investment for the purpose of Statutory Liquidity Ratio (SLR) and are transferable." AJAY KUMAR, Executive Director [ADVT.-III/4/Exty./138/2025-26] Note : Notification IDMD. No. 1762/2009-10 dated 16th October 2009 was published in Official Gazette PART III- SECTION 4, dated NOVEMBER 14- NOVEMBER 20, 2009 and was subsequently amended by Notification No. IDMD.GBD 2614/08.08.16/2018-19 dated 10th April 2018 published in Official Gazette PART III- SECTION 4, dated April 25, 2018. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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