STCI Primary Dealer Ltd.

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Gilt Account Services

 
STCI Primary Dealer Ltd (“Company”), primary dealer as defined and regulated by the Reserve Bank of India (RBI), is permitted to maintain Constituent SGL (CSGL) account with Reserve Bank of India for its clients, which is different from its own SGL account and used exclusively for maintaining Government securities of its constituents.
 
For opening a Gilt Account with the Company, the client shall enter into a CSGL agreement with the Company. Necessary KYC (Know Your Customer) documents also need to be submitted along with the CSGL agreement. An indicative list of documents required for KYC is as under:
 
Particulars Documents
Accounts of Companies
  1. Certificate of incorporation and Memorandum & Articles of Association

  2. Resolution of the Board of Directors to open an account and identification of those who have authority to operate to make investment / operate account (Authorized Signatories along with specimen signatures and photo id proofs of the authorized signatories)

  3. Power of Attorney granted to its managers, officers or employees to transact business on its behalf

  4. Copy of Company PAN / PAN allotment letter

  5. Copy of the telephone Bill /Electricity Bill (not older than 3 months)

Accounts of partnership firms
  1. Registration certificate, if registered

  2. Partnership deed

  3. Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf (specimen signatures and photo id proofs of the authorized signatories)

  4. Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses

  5. Telephone Bill /Electricity Bill in the name of firm/partners (not older than 3 months)

Accounts of trusts & foundations
  1. Registration certificate, if registered

  2. Power of Attorney granted to transact business on its behalf to those who have authority to operate to make investment / operate account (Authorized Signatories along with specimen signatures and photo id proofs of the authorized signatories)

  3. Any officially valid document to identify the trustees, settlors, beneficiaries and those holding Power of Attorney, founders/managers/ directors and their addresses

  4. Resolution of the managing body of the foundation/association

  5. Telephone Bill / Electricity Bill (not older than 3 months)

  6. Deed of Variation/Supplemental Deed, if any

  7. Letter from Income Tax office granting recognition/exemption to the trusts/foundation

 
The Company reserves the right to call for any additional document not mentioned above, if required.
 

Eligibility:

 
All entities registered in India like banks , financial institutions , primary dealers ,Individuals, Corporates, Regional Rural Banks, Co-operative Banks, Provident Funds, Pension Funds, Gratuity Funds, Trusts, Insurance Companies, Mutual Funds, foreign institutional Investors, firms , companies, corporate bodies , Partnership firms, Institutions are eligible to purchase government securities.
 
Clients interested in buying/selling in any of the debt securities, SLR or Non SLR and/or opening CSGL account may contact us on 022 6620 2224/25/26/28.
 

Latest News

RBI MPC
In view of the current and evolving macroeconomic situation and the need to provide further liquidity support, MPC voted to reduce the policy repo rate by 40 bps in an unscheduled meeting held on May 22, 2020. Currently the key policy rates stand as follows: Repo Rate: 4.00%, Reverse Repo Rate: 3.35% and Marginal Standing Facility Rate at 4.25%.
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CPI
Due to the Lockdown announced by the government in the wake of the COVID-19 crisis The CPI combined General Index was not published for the month of May-20. However, some major indices have been published with available information.
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Index Of Industrial Production (IIP)
Index for Industrial Production for the month of Apr-20 came in at 56.3 against the index print of 117.7 in Mar-20. However, only the index was released by MOSPI and not the growth rate as most of the responding units for IIP reported zero production in the month of Apr-20.
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WPI
Wholesale Price inflation printed at -3.21% for May-20, much lower than market expectations as compared to the previous reading of 0.42% for Mar-20, as all the three sub-groups showed contraction. WPI index was not published for the month of Apr-20 amid the unavailability of price data due to the nationwide lockdown.
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CFPI
Food inflation (CFPI) tapered a bit from 10.5% to 9.3% mainly on the basis of vegetable price inflation cooling off to single digits at 5.3% YoY for the first time since Aug-19.
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