RBI grants QCCP status for CCIL

Qualified central counterparty (QCCP)status granted by RBI to Clearing Corporation of India Ltd (CCIL) in the Indian jurisdiction. CCIL has qualified as a QCCP in view of the fact that it is authorised and supervised by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007. As per RBI communique, CCIL is also subjected, on an on-going basis, to rules and regulations that are consistent with the Principles for Financial Market Infrastructures (PFMIs) issued by the Committee on Payment and Settlement Systems (CPSS) and International Organisation of Securities Commissions (IOSCO).