New Delhi, Mar 31 (PTI) Financial Benchmarks India Pvt Ltd (FBIL) has assumed the responsibility for administering valuation of government securities with effect from today.
Earlier, this was done by Fixed Income Money Market and Derivatives Association of India (FIMMDA).
“FBIL has been advised to assume the responsibility for administering valuation of Government securities with effect from March 31, 2018. From that date, FIMMDA shall cease to publish prices/yield of Government securities and this role shall be taken over by FBIL,” Reserve Bank of India (RBI) said in a notification.
FBIL will commence publication of the G-Sec and SDL valuation benchmarks based on the extant methodology. Going forward, FBIL will undertake a comprehensive review of the valuation methodology, it added.
RBI regulated entities, including banks, non-bank financial companies, Primary Dealers, Co-Operative banks and All India Financial Institutions who are required to value Government securities using prices published by FIMMDA as per current directions may use FBIL prices with effect from March 31, 2018, notification said.
This is published unedited from the PTI feed.