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Role of Primary Dealers in the Government Securities Market Development Regulation and Supervision
When did RBI introduce the Primary Dealer system in G-Sec market?
1995
What are the four objectives RBI set for introducing the PD system?
Strengthen G-Sec infrastructure, develop underwriting capabilities, improve secondary market, enable OMO conduit.
As of June 2026, how many PDs exist in India?
21 PDs total—14 bank departments and 7 Standalone PDs (SPDs).
What disqualifies an entity from PD authorisation?
Material litigation, regulatory action or investigation within preceding one year.
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