"We may not be the best pay masters, but we do take very good care of our people in terms of job contentment, job enrichment and job satisfaction in a very congenial work environment."
In order to strengthen the infrastructure of fixed income securities market in India, Discount and Finance House of India (DFHI) was incorporated by the Reserve Bank of India (RBI) along with other Public Sector Banks (PSBs) and All-India Financial Institutions (FIs) under the Companies Act, 1956, on March 8, 1988. After receiving certificate of commencement of business on April 25, 1988, the Company started its operation with an initial paid-up capital of Rs. 100 cr (RBI- Rs. 51 cr, PSBs- Rs. 33 cr and FIs- Rs. 16 cr). However, in order to broad base the activity of the company, the paid-up capital was subsequently increased to Rs. 150 cr in 1989-90 and further to Rs. 200 cr during 1991-92.
DFHI since its inception has been actively trading in all the money market instruments (viz., call/notice/term money, commercial bills, treasury bills, certificates of deposit and commercial papers) and its business turnover has grown progressively over the years. With effect from the year 1992-93, DFHI has been authorized to deal in dated government securities also. After the company was accredited as a Primary Dealer (PD) in February 1996, its operations have increased significantly, particularly in T-bills and dated government securities segment.
Meanwhile, over a period of time, the RBI took a policy decision to divest their shareholding in favor of the existing shareholders. Thus, State Bank of India (SBI) became the major shareholder and DFHI became a subsidiary of SBI from March 3, 2003. |
