Role of FIMMDA
- Functions as the principal interface with Regulators (like Reserve Bank of India, Securities Exchange Board of India, Ministry of Finance - Government of India, International Monetary Fund, World Bank)
- Mandated by the Reserve Bank of India for valuation of Government Bonds, Corporate Bonds and Securitized Papers for valuation of investment portfolios of Banks and Primary Dealers
- Undertakes developmental activities such as introduction of benchmarks and new products (e.g. Mumbai Inter-bank Offered Rate, Commercial Papers, Securitized Asset, Overnight Indexed Swaps)
- Suggests Legal and Regulatory framework for the development of new products
- Training and Development Support to the Debt & Derivatives Market
- Standardisation of market practices
Membership Charges
The FIMMDA membership fee is Rs. 250,000 + taxes annually with a onetime registration fee of Rs. 250,000 + taxes
Members
The 115 member strong representative body for the Fixed Income, Money and Derivatives Markets. in India constitutes of:
- Public Sector Banks (13)
- Private Banks (19)
- Foreign Banks (35)
- Primary Dealers (7)
- Financial Institutions (6)
- Insurance Companies (21)
- Small Finance Banks (12)
- Payments Bank (2)
