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Who will create/note pledge in respect of Government securities?

April 26, 2017create government note pledge respect securities

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Who will create/note pledge in respect of Government securities?

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Pledge towards Government securities will be created/noted by the RBI or its agent, as the case may be, maintaining the account in respect of such security, i.e., in case of SC, BLA & SGL for which the records and accounts are maintained by RBI, the pledge will be noted in the books of RBI while in case of BLAs issued by Agency Banks or securities held in CSGL, the pledge will be noted by the concerned Agency Bank or CSGL Account holder respectively.