Criteria

FIMMDA membership is open to scheduled commercial banks, financial institutions, primary dealers and insurance companies.

Membership Base

The 82 member strong representative body for the bond, money and derivatives markets in India constitutes of:

• Public Sector Banks (26 in number)

• Private Banks (22 in number)

• Foreign Banks (18 in number)

• Primary Dealers (08 in number)

• Financial Institutions (6 in number)

• Insurance Companies (2 in number)

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

For a list of current members, please click here.