The Reserve Bank of India vide its notification dated 19th March 2021 had notified that the Entities licensed by RBI to do banking business, but not included in the second schedule to the Reserve Bank of India Act, 1934 are qualified financial market participants to deal in qualified financial contracts.
Further Export-Import Bank of India, Small Industries Development Bank of India, National Housing Bank and Factories as defined in Section 2 (i) of the Factoring Regulation Act, 2011 are also qualified financial market participants to deal in qualified financial contracts.
