Investment of surplus funds by State/Central Co-operative Banks- All India Financial Institutions

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Investment of surplus funds by State/Central Co-operative Banks- All India Financial Institutions

RBI/2004-05/ 127

RPCD.CO.RF.BC.No.19/07.02.03/2004-05

August 17, 2004

All State Co-operative Banks and District Central Co-operative Banks

Dear Sir,

Investment of surplus funds by State/Central Co-operative Banks- All India Financial Institutions

Please refer to our circular RPCD.RF.No.BC. 29/07.02.03/2001-02 dated September 25, 2001 on the above subject.

2. In this connection, we advise having drawn up a fresh list of All India Financial Institutions (AIFI) (copy enclosed), and advise that State/Central Co-operative Banks may invest in the bonds/ equity of these institutions subject to the limits prescribed in our circular RPCD.CO.RF.BC.65/07.02.03/2003-04 dated February 23, 2004.

3. All other terms and conditions stated in our guidelines on investment remain unchanged.

4. The contents of this circular may be placed before the Board of Directors of your bank.

5. Please acknowledge receipt to our concerned Regional Office

Yours Faithfully,

(C.S.Murthy)

Chief General Manager In-Charge

Encl: As above

Revised List of All India Financial Institutions

1. Industrial Development Bank of India (IDBI)

2. Industrial Finance Corporation of India (IFCI)

3. Export - Import Bank of India (Exim Bank)

4. Industrial Reconstruction Bank of India (IRBI) now (Industrial Investment Bank of India)