Criteria
FIMMDA membership is open to scheduled commercial banks, financial institutions, primary dealers and insurance companies.
Membership Charges
The FIMMDA membership fee is Rs. 250,000 + taxes annually with a onetime registration fee of Rs. 250,000 + taxes
Membership Base
The 113 member strong representative body for the bond, money and derivatives markets in India constitutes of:
- Public Sector Banks (13 in number)
- Private Banks (19 in number)
- Foreign Banks (35 in number)
- Primary Dealers (07 in number)
- Financial Institutions (06 in number)
- Insurance Companies (21 in number)
- Small Finance Banks (12 in number)
- Payments Bank (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.