February 28, 2005

To

The Chairmen and Chief Executive Officers, all Scheduled Commercial Banks

Dear Sir,

Reserve Bank of India has today released a Roadmap for presence of Foreign Banks in India and Guidelines on Ownership and Governance in Private Sector banks. These documents are enclosed for guidance of all concerned. A copy of the Press Release summarizing the salient features of the above mentioned documents is also enclosed.

Yours faithfully,

(C.R. Muralidharan)

Chief General Manager-in-Charge