Question
Consider the following statements: 1. The
auctions of the G-Secs are conducted on the electronic platform called the E-Kuber. 2. Only the members of E-Kuber can participate in the primary auction of the G-Secs. 3. G-Secs are issued through auctions conducted by RBI. Which of the statements given above is/are correct?Solution
Statement 1 is correct: Auctions are conducted on the electronic platform called the E-Kuber, the Core Banking Solution (CBS) platform of RBI. Statement 2 is incorrect: All non-E-Kuber members including non-scheduled UCBs can participate in the primary auction through scheduled commercial banks or PDs (called as Primary Members-PMs). Statement 3 is correct: G-Secs are issued through auctions conducted by RBI. Auctions are conducted on the electronic platform called the E-Kuber, the Core Banking Solution (CBS) platform of RBI.
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