CIN : L74899DL1996PLC077120
Reserve Bank of India has allowed Primary Dealers to have a second SGL account in the books of Public Debt Office of the Reserve Bank of India called Constituents Subsidiary General Ledger Account (CSGL).Primary Dealers have been permitted to act as custodians on behalf of their constituents for holding their Treasury Bills and Government securities in scripless / dematerialised form in accounts known as Gilt Accounts.
- Beneficial ownership of the Treasury Bills and Government securities held in such accounts vests with the constituent investors who are also referred to as Gilt Accountholders (GAH).
- A Gilt Account can be compared with a bank account, except for the difference that the account is debited or credited with Treasury bills or Government securities instead of money.
- On purchase of Treasury bills / Government securities, they would be credited to the Gilt account, whereas on sale they would be debited to the Gilt Account.