The Reserve Bank of India (RBI) on October 18, 2024, issued the notification regarding the Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2024.
The following has been stated namely: -
• Direct access to NDS-OM has been extended to a broader set of regulated entities and the process for seeking direct access to NDS-OM under these Directions or through the procedure stipulated under the Master Directions on Access Criteria for Payment Systems has been streamlined.
• Any person/entity eligible to invest in Government securities in terms of the applicable rules/ guidelines issued by the Government of India/State Governments/the Reserve Bank, as amended from time to time shall be eligible to access NDS-OM either through direct access or through indirect access.
• Indirect access to NDS-OM shall be through an entity which has a direct access to NDS-OM, and which agrees to assume responsibility to settle the transactions undertaken by the entity seeking indirect access.
This shall come into force on October 18, 2024.
[Notification No. RBI/FMRD/2024-25/124]
