RBI to move Next Generation Treasury Application (NGTA) to manage Forex and Gold Reserves

The NGTA will be a web-based application. For this system, RBI has invited the bids. It will provide scalability and flexibility to introduce new products. It will also provide securities to the functioning. The system will also supporting multi-currency transactions and settlements such as Fixed Income (FI), Forex, Money Market (MM) and Gold. NGTA will automatically collect all the relevant details of a security or contract from a trading platform. It will support all the globally accepted conventions based on day count, holiday logic,  interest computation, shut period-dividend, Cash flows, ex-dividend and odd coupon.



Objectives

The primary objectives of the proposed system are as follows:

  1. To deal with numerous asset classes such as Gold, Fixed Income Securities, Forex and Money Market,
  2. To manage the portfolio,
  3. To manage the workflow,
  4. To manage the reserve,
  5. To integrate with various third party and in-house systems and
  6. To establish a dashboards for providing reports and widgets.

Who Can Bid for the system?

The document released by RBI has stated that the prime bidder for the system should be a registered Indian entity under the respective Acts in India. The bidder should have minimum annual turnover of at least Rs 475 crore for the years from 2017-2019.

India’s reserves status

India’s foreign exchange reserves is up at USD 545.638 billion as of October 2, 2020. The gold reserves are up to USD 36.486 billion for the same period.

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