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BANKING TECHNOLOGY | Cesar Tordesillas, India
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IDBI to facilitate web-based auction

IDBI Bank to enable one of its gilt account holders to participate in primary auctions through a newly launched web-based Negotiated Dealing System auction.

 

This made the bank the first primary dealer in India to do so.

The Reserve Bank of India recently launched a web-based NDS auction module, which facilitates internet- based access to gilt or government bond account holders.

Through the new system, account holders may directly participate in primary auction of gilts, conducted by the RBI, a release said.

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