SGL full form stands for ‘Subsidiary General Ledger’ account that has a facility provided by RBI to large banks and financial institutions. So, that they can carry their investments in Government securities and Treasury bills within the electronic book-entry form.
There is a Delivery-versus-Payments (DVP) mechanism that helps such institutions to settle their trades for securities held in SGL. It also ensures movement of funds and securities simultaneously.
What You Need To Know About Subsidiary General Ledger Account ?
SGL account is a Subsidiary General Ledger that is maintained with Federal Reserve Bank of India that holds the Government Securities and T-Bills in paperless form. Or it can be maintained in retail is named the demat account for G-secs. Moreover, this account is used for facilitating delivery and payment trades.
Also, in exercise of powers conferred by Section 4 of state Securities Act 2006, Federal Reserve Bank of India had given notification for the terms and conditions that are applicable for opening and maintaining of Subsidiary general ledger (SGL) Accounts and Constituents’ Subsidiary general ledger (CSGL).
Frequently Asked Questions
Q. What is the full form of SGL in Banking, Accounts and Finance?
A. SGL stands for Subsidiary General Ledger.
Q. Expand full name of SGL.
A. the expanded full name of SGL is Subsidiary General Ledger.
Q. What does SGL stand for?
A. Subsidiary General Ledger Account (SGL) stands for the facility maintained by Reserve Bank of India to select entities who can maintain their securities in SGL accounts maintained with the Public Debt Offices of the RBI.
Q. Is it acronym or abbreviation?
A. SGL is an acronym as it contains the initials letters of a phrase.
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