rbi speech, 2006-05-25
Other key elements in the technological content of market development are electronic clearing (introduced in 1994), electronic finds transfer (1996), quick funds transfers with centralized settlement in Mumbai (2003), negotiated dealing system (NDS), screen based order matching system (2002) for electronic reporting of trades and online dissemination system and submission of bids for primary issuance of government securities and a Clearing Corporation of India Ltd. (CCIL), promoted by banks, financial institutions and primary dealers for clearing and settlement of trades in foreign exchange, government securities and other debt instruments, commenced operations in April 2001.
Sentiment: neutral
Topic: financial_stability