April 5, 2001

To,

Dear Editor,

Several motivated and mischievous reports have appeared in the newspapers involving the Reserve Bank of India in the recent past.

Two recent instances are: a report in the Business Standard which alleged that the RBI tried to "accommodate" one particular broker through its clearing house procedures; and the other is today’s Economic Times Report alleging that the RBI has "called off" the investigation into the unusual movement in GTB share prices.

We have refuted both the reports by writing individual letters to the respective newspapers and have served a legal notice to the Economic Times today.

These would be in addition to the Press Office contact numbers namely,

266 0502 (Telephone) 266 0358 (fax)
98202 92784 (Mobile) 265 8269 (fax)

We assure you that we would get back to you with our replies to your queries in the shortest possible time.

Please note that we will take serious action if any report is found to be factually inaccurate hereafter.

Yours Sincerely