 "RBI grants new status for CCIL")
Reserve Bank of India (RBI) granted the status of qualified central counterparty (QCCP) to Clearing Corporation of India Ltd (CCIL) in the Indian jurisdiction on Wednesday.
CCIL has qualified as a QCCP in view of the fact that it is authorised and supervised by RBI under the Payment and Settlement Systems Act, 2007.
“CCIL is also subjected, on an on-going basis, to rules and regulations that are consistent with the Principles for Financial Market Infrastructures issued by the Committee on Payment and Settlement Systems and International Organisation of Securities Commissions,” RBI said.
CCIL has qualified as a QCCP in view of the fact that it is authorised and supervised by RBI under the Payment and Settlement Systems Act, 2007.
“CCIL is also subjected, on an on-going basis, to rules and regulations that are consistent with the Principles for Financial Market Infrastructures issued by the Committee on Payment and Settlement Systems and International Organisation of Securities Commissions,” RBI said.