No longer current — replaced by Reserve Bank of India (Securitisation of Standard Assets) Directions, 2021
Source: Reserve Bank of India · RBI/2012-13/549 · issued 26 Jun 2013 · ~1 min read
Quick answerRBI now permits Primary Dealers to execute securities transactions with each other or non-bank clients via MCX Stock Exchange, in addition to NSE, OTC Exchange, and BSE. This expands trading venues for PDs.
What changed
RBI reviewed earlier directions and decided that Primary Dealers can now undertake securities transactions through members of MCX Stock Exchange. This is in addition to the previously allowed exchanges: National Stock Exchange, OTC Exchange of India, and Bombay Stock Exchange.
What it means for you
Primary Dealers gain an additional trading platform for securities, potentially improving liquidity and execution flexibility. Banks and lenders dealing with PDs may see more efficient market access and pricing, though the core regulatory framework remains unchanged.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Update internal trading policies to include MCX Stock Exchange as an approved venue for securities transactions with PDs.
Ensure compliance with all existing RBI guidelines on securities transactions when using the new exchange.
Monitor operational readiness and connectivity with MCX Stock Exchange for seamless execution.
Who it affects
Primary Dealers, Non-bank clients of Primary Dealers, Banks and financial institutions transacting with PDs
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-18 15:07 IST
Superseded by — Reserve Bank of India (Securitisation of Standard Assets) Directions, 2021
Status change: superseded03 Aug 2026, 04:00 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Which exchanges were already permitted for PD securities transactions before this notification?
Before this notification, Primary Dealers could undertake securities transactions through the National Stock Exchange, OTC Exchange of India, and Bombay Stock Exchange.
Does this notification change any other requirements for Primary Dealers?
No, this notification only adds MCX Stock Exchange as an additional permitted trading venue. All other existing guidelines on securities transactions remain unchanged.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Superseded byReserve Bank of India (Securitisation of Standard Assets) Directions, 2021
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/549
IDMD.PCD.13/14.03.07/2012-13
June 26, 2013
To
All Market Participants
Dear Sir/Madam,
Guidelines on Securities Transactions to be followed by Primary Dealers
Please refer to our Notifications IDMC.PDRS.PDS.No.2/03.64.00/2000-01 dated November 13, 2000 and IDMC. No. PDRS/2049A/03.64.00/99-2000 dated December 31, 1999 on the captioned subject.
2. The above directions have been reviewed and it has been decided that Primary Dealers are permitted to undertake transactions in securities among themselves or with non-banks clients through members of the MCX Stock Exchange in addition to National Stock Exchange, OTC Exchange of India and Bombay Stock Exchange.
Yours faithfully,
(K. K. Vohra)
Principal Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/549 · issued 26 Jun 2013. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8064&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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