CIN : L74899DL1996PLC077120
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  title  Gilts Investment Services

Government securities are sovereign securities issued by Reserve Bank of India (on behalf of Government of India ) under central government's market borrowing programme, which Provides opportunity to investors buy G-Sec or T-Bills at primary market auctions of RBI or at secondary market from Primary dealers like PNB Gilts Ltd. or brokers.


Eligibility :


All entities registered in India like banks , financial institutions , primary dealers ,Individuals, Corporates, Regional Rural Banks, Co-operative Banks, Provident Funds, Pension Funds, Gratuity Funds, Trusts, Insurance Companies, Mutual Funds, foreign institutional Investors, firms , companies, corporate bodies , Partnership firms, Institutions are eligible to purchase government securities.


Pre-requisites :


RBI has allowed primary dealers to have a second SGL account in the books of public debt office of RBI known as constituents subsidiary general ledger(CSGL). Primary dealers have been permitted to act as custodian on behalf of their constituents or holding their government securities in scrip less / dematerialized form in accounts known as gilts account. Therefore, entities interested to invest in government securities must have either Demat account or a CSGL account either with PNB Gilts Ltd or any Bank/Primary Dealer.


Opening of Gilts Account with PNB Gilts Ltd.:-


PNB Gilts ltd , being a primary dealer , is permitted to maintain Constituent SGL account with Reserve bank of india for its clients , which is different from its own SGL account and used exclusively for maintaining Government securities of its constituents in dematerialized form.


For opening a Gilt Account with PNB Gilts Ltd., the client has to enter into an agreement with PNB Gilts Ltd. In addition the following documents have to be submitted :


True copy of Board Resolution in case of companies , partnership deed in case of partnership firms, trust deed in case of Trusts for operating and opening Constituent SGL Account with PNB Gilts Ltd.
True copy of Board Resolution in case of companies , partnership deed in case of partnership firms, trust deed in case of Trusts for operating and opening Constituent SGL Account with PNB Gilts Ltd. authorizing the designated officials to place orders for sale/purchase of securities, along with their specimen signatures.
True Copy of Memorandum and Articles of Association of company/organization, last three years annual reports.
Attested copies of PAN card, address proof such as bank statement, utility bills

Facilities Available to a GILT Account holder of PNB GILTS LTD.


The following facilities are extended to Gilt Account Holders (GAH):

Advices: On purchase or sale of a government security PNB Gilts sends an advice to the GAH giving full details of the transactions entered into on behalf of the GAH.
Statements: The company sends a fornightly/quarterly statement to each GAH which gives details of the balance securities held in the Account as at the end of the fortnight/quarter.
Audited Certificates: PNB Gilts sends a half yearly statement to each GAH confirming the balances of the securities in the GAH's account. This statement is sent after being certified by the auditors.
Dematerialisation/ Rematerialisation: On the request of GAHs, PNB Gilts gets the existing physical scrips of government securities dematerialised and credited to the gilt account. If the GAH desires physical scrips of some government securities, PNB Gilts obtains the rematerialised physical scrips for the GAHs on their request.
Interest collections: On interest collection dates PNB Gilts collects the interest on government securities held in demat form from the Reserve Bank of India on behalf of GAH and pays the same to the GAH.
Collection of redemption proceeds/Maturity proceeds: The maturity proceeds of Treasury bills and government securities are collected by PNB Gilts from Reserve Bank of India on the due date and paid to the GAH.
Primary Market auctions: PNB Gilts submits bids in Primary Market auctions of government securities as per instructions received from the GAH on their behalf.
Open market operations: PNB Gilts also undertakes activities in the open market operations of Reserve Bank of India on behalf of the GAH, as per their instructions

How to purchase Government Securities :-


Open a demat account with any Depository Participant of NSDL in case you already do not have a demat account.
Contact PNB Gilts Head Office / Branch office as per addresses.
Obtain rates for purchase of government security from designated PNB branch/PNB Gilts branch.
Decide the government security to be purchased from the rates given as above.
Obtain / download application form for purchase of government security from any of the designated branches and submit it duly filled along with cheque/DD.
Amount for purchase of government security is payable by cheque/DD. Cheque/DD should be made payable to PNB GILTS LTD. and crossed Account Payee.
Submit the application form alongwith cheque/DD at the designated branch of PNB/PNB Gilts office and obtain receipt.
PNB Gilts would ensure credit of the security to the demat account of the investor.

How to sell Government Securities :-


Contact nearest PNB Gilts Head Office or branch office.
Obtain rates for sale of government security. For other queries, contact PNB Gilts Delhi, on 011-23325759 / 23325779 / 23736584, Fax 011-23325763 / 23325751, or email: pnbgilts@del2.vsnl.net.in.
Give instructions for debit of your demat account to your Depository Participant.
Fill the application form for sale of government security and attach copy of demat debit instruction given to your Depository Participant.
Submit application form to the designated PNB Gilts office and obtain receipt.
PNB Gilts would remit the money payable by cheque/Demand Draft directly to you as per address mentioned in the form.

Investors interested in buying or selling any central government dated securities, state development loans may contact us.


Our Quotes :


Quotes are valid only for the date. Fresh quotes may also be posted by us during the day should the market situation so warrant.No quotes would be posted on saturdays, sundays and other such days when the debt market is closed.


The time of receipt of the order on our computer(for e-mail) or our fax machine (for faxes) would determine the deal consideration in such situations.