| RBI/2008-09/422 |
| DBOD.No.Dir.BC. 119 /13.03.00/2008-2009 |
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March 30, 2009 |
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All Scheduled Commercial Banks
(excluding RRBs) |
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| Dear Sir |
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Banks’ Exposure to Capital Market –
Loans extended by banks to Mutual Funds and
Issue of Irrevocable Payment Commitments (IPCs) |
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Please refer to our circular No.DBOD.Dir.BC.98/13.03.00/2008-2009 dated December 12, 2008, in terms of which the transition period allowed to banks to comply with the requirements contained in our circular No.DBOD.Dir.BC.57/ 13.03.00/2007-2008 dated December 14, 2007, was extended up to March 31, 2009. On a review, it has been decided to further extend the transition period up to June 30, 2009. |
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| Yours faithfully |
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(Vinay Baijal)
Chief General Manager |
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