RBI specifies norms for opening and maintenance of a Subsidiary General Ledger account

RBI has prescribed the conditions applicable for opening and maintenance of Subsidiary General Ledger account. The terms provide that an eligible entity can open and maintain only one Subsidiary General Ledger (SGL) account. A SGL account holder cannot open a constituent account with any Constituents’ Subsidiary General Ledger (CSGL) account holder without specific approval from the Bank except in cases where the accounts are required to be opened for regulatory /margin maintenance

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