Over the years, half a dozen banks, specialising in capital market exposures with their dealing with brokers and investors pledging stocks to raise funds for trades, have captured the market. As a result, these banks have ended up holding a predominant value of the FDs and securities and issuing guarantees given as collaterals with the clearing corporations.
Irdai opens NDB’s Maharajah INR bonds to insurers
In a circular dated August 27, the regulator said that it had received representation from New Development Bank to permit Insurers to invest in Maharajah