India plans real-time bond settlement for 2002


NEW DELHI -- The Indian government plans by first-quarter 2002 to have a centralised real-time gross settlement system (RTGS) for clearing and settling all trades in Indian government and corporate bonds and associated futures and options contracts.

RTGS, deemed operationally safer and more efficient than other settlement methods, is desperately needed in India to replace the current outmoded arrangements that rely on the good will of traders to sort out frequent gridlocks, say bankers.


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