IDMC. PDRS. PDS. No PDS.2/03.64.00/2000-01

November 13, 2000

All Primary Dealers in the Government Securities Market

Dear Sir,

Securities Transactions – Permission to transact through The Stock Exchange, Mumbai

Please refer to our circular IDMC.No.PDRS/2049A/03.64.00/99-2000 dated the 31^st Dec 1999, on ‘Guidelines on Securities Transactions to be followed by Primary Dealers’. Currently only transactions through members of the National Stock Exchange and OTC Exchange of India are permitted. Henceforth, Primary Dealers may also undertake transactions among themselves or with clients through the members of the Stock Exchange, Mumbai, in addition to the NSE and OTCEI. In case any transactions are not undertaken on the NSE, OTC Exchange of India or The Stock Exchange, Mumbai, the same should be undertaken directly without the use of brokers.

Please note that all instructions contained in Part A para 8 and Part B para 6 of our Circular under reference relating to transactions through brokers should be strictly adhered to. Any violation or circumvention of the instructions will invite penal action including withdrawal of liquidity support, denial of access to money market and any other penalty the Reserve Bank may deem fit.

Please acknowledge receipt.

Yours faithfully

(Usha Thorat)
Chief General Manager –in-Charge