STCI Primary Dealer Ltd.

Services

Skip Navigation Links.

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

In its Fifth Bi-Monthly
In its Fifth Bi-Monthly Monetary Policy for FY19, the MPC-panel maintained ‘status quo’. Consequently, key policy rates remained unchanged - Repo rate at 6.50%, Reverse repo at 6.25% and MSF at 6.75%.
--------------------------------------------------
Inflation projections for
Inflation projections for 2018-19 were revised downwards as food inflation has remained benign. It is projected at 2.7%-3.2%% in H2 FY19 (3.8%-4.5% previously) and 3.8%-4.2% in H1 FY20.
--------------------------------------------------
Growth for FY19
Growth for FY19 is projected at 7.4% with 7.2%-7.3% in H2 FY19 (7.3%-7.4% previously). Growth in H1 FY20 is projected to stand at 7.5%.
--------------------------------------------------
RBI in its February policy
RBI in its February policy cut the repo rate by 25 bps while also changing the stance to ‘neutral’ from ‘calibrated tightening’. Consequently, key policy rates are pegged as follows - Repo rate at 6.25%, Reverse Repo at 6.00% and Marginal Standing Facility (MSF) at 6.50%
--------------------------------------------------
The inflation projections
The inflation projections have been revised downwards to 2.8% in Q4 FY19 (from 2.7-3.2% earlier), 3.2-3.4% in H1 FY20 (from 3.8-4.2% earlier) and 3.9% in Q3 FY20
--------------------------------------------------
GDP growth for FY20
GDP growth for FY20 has been projected at 7.4% - in the range of 7.2-7.4% in H1 (from 7.5% earlier) and 7.5% in Q3.
--------------------------------------------------
Spurring a positive surprise
Spurring a positive surprise, Jan CPI stood significantly lower than market expectations at 2.05% vis-à-vis the revised Dec-18 estimate of 2.11% (2.19% previously). Lack of inflationary pressures in the services components led core CPI to also moderate, clocking in at 5.38%, a sharp fall from 5.68% in Dec-18.
--------------------------------------------------
Industrial production rose
Industrial production rose by 2.4% in Jan-19 as compared to 0.3% in Feb-18. Cumulatively, IIP for FY19 stood at 4.6%, lower than 3.7% in FY18. Significant sequential uptick was observed across sectors; Mining (3.4%), Electricity (2.1%) and Manufacturing (6.8%)
--------------------------------------------------
Wholesale inflation for Jan-19
Wholesale inflation for Jan-19 came in at 2.76%, lower than 3.80% registered in Dec-18. Broad-based fall in commodity prices amid deflationary pressures from food and fuel items led to this downtick in inflation. Consequently, core WPI inched down to 2.91%, as compared to 4.22% in Dec-18.
--------------------------------------------------