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 the second bi-monthly monetary policy for FY21, the RBI Monetary Policy Committee unanimously decided to maintain status quo on policy rates, given the current growth-inflation dynamics. The Repo rate is unchanged at 4%, the reverse repo rate at 3.35%.The bank rate and the Marginal Standing Facility rate remain unchanged at 4.25%.
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CPI
Consumer Price Index (Combined) for August 2020 printed below market expectations at 6.69% on a year on year basis as compared to 6.73% in July 2020.
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Index Of Industrial Production (IIP)
IIP growth for July 2020 printed better at -10.4% as against -15.8% recorded in June 2020, on a year on year basis.
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WPI
Headline WPI inflation for August 2020 printed higher than market expectations at 0.16% as compared to -0.58% in July 2020, on a year on year basis, mainly on the basis of price uptick in primary articles and manufactured products.
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.....
Real gross domestic product for Q1 FY21 contracted sharply by 23.9%. A contraction was expected in light of the effects of the lockdown on economic activity.
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