ENHANCEMENT OF MINIMUM NOF FOR PDs

Reserve Bank of India (RBI) has decided to increase the minimum Net Owned Funds (NOFs) for stand- alone Primary Dealers (PDs) from Rs. 50 crore to Rs. 150 crore. The revised NOF requirement for the stand- alone PDs, which intend to undertake other permissible activities, is enhanced to Rs.250 crore from the existing level of Rs. 100 crore.