More Stories

Informist, Monday, Dec. 29, 2025

MUMBAI – The rise in the average rate of primary dealerships' underwriting commission in 2025-26 (Apr-Sept) to 0.6 paise per INR 100 reflects "increased market volatility," the Reserve Bank of India Monday said in its annual report titled 'Trend and Progress in banking 2024-25 (Apr-Mar)'. 

The average rate of underwriting commission was 0.1 paise per INR 100 in FY25, down from 0.3 paise per INR 100 a year ago, the report said. Excluding goods and services tax, the underwriting commission paid to primary dealers in FY25 was INR 145 million, down from INR 411 million in the previous year, the report said.

At the end of FY25, there were 21 primary dealers, of which 14 were bank primary dealerships and seven were standalone. Overall, standalone primary dealerships maintained "sound financial position", and underwrote, and supplied liquidity in the government bond market "efficiently" in FY25, the report said.

The balance sheet size of standalone primary dealers rose at a slower pace in FY25, compared to strong growth in FY24, the report said. This was due to slowdown in growth of primarily gilts and other marketable securities, the report said. Outstanding secured borrowing slowed down while outstanding unsecured borrowing rose, it said.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Cassandra Carvalho

Edited by Deepshikha Bhardwaj

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.