Permission for keeping of securities as margin with the CCIL for margin requirements
The Pension Fund Regulatory and Development Authority (PFRDA) has issued a circular on 20th April 2023, allowing Pension Funds to keep securities as margin with the Clearing Corporation of India Limited (CCIL) for margin requirements for investment in Government securities and TREPS. This decision has been taken in line with the changes introduced by CCIL regarding margin rules. All other terms and conditions as contained in the investment guidelines shall remain unchanged.
पेंशन निधि विनियामक एवं विकास प्राधिकरण
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
PFRDA/2023/13/REG-PF/01
Date: 20th April, 2023
To,
CEOs of All Pension Funds
Dear Sir / Madam,
SUBJECT: Permission for keeping of securities as margin with the CCIL for margin requirements-reg.
Reference is invited to the investment guidelines issued by the Authority vide circulars dated 20th July, 2021 for Government Sector schemes and Private Sector schemes under NPS and the subsequent amendments made thereunder.
2. In line with the changes introduced by CCIL regarding margin rules vide notification dated 26th August, 2021, the Pension Funds are hereby allowed by the Authority to keep securities as margin with the CCIL for margin requirements for investment in Government securities and TREPS.
3. Subject to the aforementioned revision, all other terms and conditions as contained in the investment guidelines (along with the amendments) shall remain unchanged.
4. This circular is issued in exercise of powers of the Authority under sub-clause (b) of sub-section (2) of Section 14 read with Section 23 of the PFRDA Act, 2013. and sub-regulation (1) of Regulation 14 of PFRDA (Pension Fund) Regulations, 2015 as amended from time to time.
5. The revision shall be effective from the date of this circular.
Yours sincerely,
(ए.के. सोनी /A. K. Soni)
कार्यकारी निदेशक / Executive Director