What changed
RBI mandated that all scheduled banks which are NDS members and act as IPAs must report CP issuance on the NDS platform within two days of issue completion, effective April 16, 2005. This follows the release of a reporting module in PDO-NDS Version 3.0 on April 2, 2005. Existing reporting to the Monetary Policy Department continues until RBI confirms NDS reporting is stable.
What it means for you
Banks must now dual-report CP issuances—on NDS and to MPD—until further notice. This move aims to enhance transparency and facilitate benchmarking in the CP market. IPAs need to ensure their systems are updated to handle NDS reporting within the two-day window.
What you must do
- Ensure your bank's NDS module (PDO-NDS Version 3.0) is operational for CP reporting from April 16, 2005.
- Report all CP issuances on NDS within two days of issue completion.
- Continue submitting CP details to MPD as per existing Master Circular until RBI discontinues that requirement.
- Train IPA staff on the new NDS reporting workflow to avoid delays.
Who it affects
All scheduled banks that are NDS members and act as IPAs for CP issuances, Monetary Policy Department (MPD) for receiving parallel reports
What is the deadline for reporting CP issuance on NDS?
IPAs must report within two days from the date of completion of the CP issue.
Do we still need to report CP details to MPD?
Yes, existing reporting to MPD continues until RBI communicates discontinuation after NDS reporting stabilizes.