HDFC Bank & Corporation Bank authorised to undertake Primary Dealer business

HDFC Bank Limited has been authorised to undertake Primary Dealer business with effect from Monday, April 02, 2007.

The Corporation Bank has been authorised to undertake Primary Dealer business with effect from Monday, April 02, 2007 and, concurrently, the authorisation given to CorpBank Securities Limited, as Primary Dealer, stands withdrawn.

Reserve Bank of India had announced in its Annual Policy Statement for the year 2005-06 that the permitted structure of Primary Dealership business would be expanded to include banks, which fulfill certain minimum eligibility criteria. Accordingly, Reserve Bank of India had issued guidelines on February 27, 2006 addressed to all Scheduled Commercial Banks (excluding RRBs), on eligibility conditions for undertaking Primary Dealership business departmentally.

Earlier, Kotak Mahindra Bank Limited was authorized by RBI to undertake Primary Dealer (PD) business ...Click here

Click here for the list of authorised dealers in foreign exchange

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