SGL Full Form | Full Form of SGL
SGL Full Form - Subsidiary General Ledger
Subsidiary General Ledger
- SGL stands for 'Subsidiary General Ledger' account. It’s a facility provided by RBI to large banks and financial institutions to carry their investments in Government securities and Treasury bills within the electronic book-entry form.
- Such institutions can settle their trades for securities held in SGL through a Delivery-versus-Payments (DVP) mechanism which ensures movement of funds and securities simultaneously.
What you need to know about Subsidiary General Ledger Account ?
- SGL account denotes Subsidiary general ledger which is maintained with Federal Reserve Bank of India for holding Government Securities and T-Bills in paperless form (or what in retail is named the demat account for G-secs!). The account is used for facilitating delivery and payment trades.
- UCO Bank shares were trading 1.26% down at ₹11.78 a bit on the BSE.
- In exercise of powers conferred by Section 4 of state Securities Act 2006, Federal Reserve Bank of India had notified the conditions applicable for opening and maintaining of Subsidiary general ledger (SGL) Accounts and Constituents’ Subsidiary general ledger (CSGL).