With reference to India, consider the following statements:
1.Retail investors through a demat account can invest in ‘Treasury Bills’ and ‘Government of India Debt Bonds’ in the primary market.
2.The ‘Negotiated Dealing System-Order Matching’ is a government securities trading platform of the Reserve Bank of India.
3.The ‘Central Depository Services Ltd’ is jointly promoted by the Reserve Bank of India and the Bombay Stock Exchange.
Which of the statements given above is/are correct?
Gilt account is opened by the bank for individuals who wish to invest in government securities and treasury bills. Banks in effect maintain a Demat account for these instruments in the name of the individuals. Hence, statement 1 is correct. Negotiated Dealing System-Order Matching (NDS-OM) is RBI’s screen-based, anonymous electronic order matching system for trading in government securities in the secondary market. Hence, statement 2 is correct. Central Depository Services Ltd (CDSL), is the first listed Indian central securities depository based in Mumbai. CDSL is promoted by BSE Ltd. jointly with leading banks such as State Bank of India, Bank of India, Bank of Baroda, HDFC Bank, and Standard Chartered Bank. Hence, statement 3 is not correct. Therefore, option (b) is the correct answer.