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Monday, April 26, 1999
Assocham calls for changes in Public Debt Act
UNITED NEWS OF INDIA
New Delhi, Apr 25: The Associated Chambers of Commerce and Industry of India (Assocham) has mooted a proposal for suitable amendment in the Public Debt Act to facilitate introduction of the separate trading of registered interest and principal of securities (STRIPS). The proposal submitted to the Reserve Bank by the chamber stipulates that stripping through the creation of zero coupon bonds would avoid reinvestment risk. The zero coupon bond does not carry interest payments and consequently there is no reinvestment risk for the investor who can match the bonds maturity to its horizen.Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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