The Reserve Bank of India (“RBI”) in exercise of powers conferred under Section 45(W) of the Reserve Bank of India Act, 1934 (“Act”), read with Section 45(U) of the Act, vide Circular No. FMRD.MIOD.No.12/11.01.051/2024-25[1] dated February 07, 2025, issued the Master Directions – Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2025 (“Master Directions”). These Master Directions, which supersede the Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2024, shall come into effect immediately.
As per Paragraph 2 of the Statement on Developmental and Regulatory Policies issued as part of the Bi-monthly Monetary Policy Statement for 2024-25, dated February 07, 2025, the Negotiated Dealing System – Order Matching (“NDS-OM”) platform shall now be accessible to non-bank brokers, registered with the Securities and Exchange Board of India (SEBI), to facilitate trades by retail investors.
In line with these developments, the RBI made the necessary revisions to the access criteria for the NDS-OM platform. The updated access criteria has now been consolidated under these newly issued Master Directions and shall be carefully considered in all relevant operations concerning the NDS-OM platform.
[1] https://website.rbi.org.in/web/rbi/-/notifications/access-of-sebi-registered-non-bank-brokers-to-nds-om