The Reserve Bank of India (RBI), as announced in the Second Quarter Review of Monetary Policy 2013-14, has decided to introduce cash settled Interest Rate Futures (IRF) on 10-year Government of India security. The IRF deriving value from 91-Day Treasury Bills, 2-year, 5-year and 10-year coupon bearing notional Government of India security, and coupon bearing Government of India security are permitted on the recognised stock exchanges............
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