Gilts Accounts

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Gilts Accounts

A gilt account is designed to hold government securities and is maintained by an entity or an individual with a custodian which could either be a bank or a Primary Dealer or a financial institution that is permitted by the Reserve Bank of India to operate, what is termed as, a Constituents Subsidiary General Ledger Account (CSGL) with the RBI. As a Primary Dealer, PNB Gilts Ltd, is authorised by the RBI to open and operate CSGL accounts and thus act as a custodian for such accounts. As a custodian of the Gilt Account Holders(GAH), we maintain CGSL accounts with the RBI while the ownership of the securities held in these accounts rests with the constituents/GAH. The servicing of securities held in such accounts is done electronically, thus, facilitating easy and hassle-free trading and maintenance of the securities as prescribed by the RBI.

Advantages of opening a gilt account:

  • Gilt accounts enable the investors to realise all benefits of a dematerialized holding through their bankers without the difficulty and risks associated with physical form. 

  • Collection and payment of maturity proceeds and interest is faster as these are collected by the primary member and immediately passed on to the client’s gilt account.

  • Quick settlement

  • Low administrative costs and minimal charges

In our efforts to deepen the reach and availability of Government securities to all types of investor segments, we have opened multiple CSGL accounts over the years and continue our efforts in this direction. Our constituent profile encompasses a wide gamut of investor segments including insurance companies, regional rural banks, individuals, provident and pension funds, trusts, cooperative banks, financial institutions and so on. We are custodians of an asset base of above Rs 80,000 cr for our constituents with a constant endeavour to make available to them the best possible service and results.

Why open a gilt account with PNB Gilts?

We offer a comprehensive set of services to ensure efficient management of gilt accounts for our constituents.

  • Clients get regular market feedback throughout the trading session.

  • We have a designated constituent dealer for all CSGL trades.

  • Upon request, we convert physical scrips of government securities held by you to dematerialized form and credit the same to your gilt account. If, on the other hand, you require physical scrips of a government security, we help you obtain these rematerialized scrips too.

  • Zero to minimal transaction fee

  • Regular mailer of statements and transaction reports are sent to constituents.

  • Regular market analysis and market reports are shared with constituents.

  • Convenient bidding in primary market

  • We also undertake activities in the open market operations of the Reserve Bank of India on behalf of our constituents.

  • We entertain trade requests till the last minute of market closing.

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