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RBI.No.2007-08/161 DBOD.No.Dir.BC. 41/13.03.00/2008-2009
September 10, 2008 Bhadra 19, 1930 (Saka)
All Scheduled Commercial Banks (excluding RRBs)
Dear Sir
Banks’ Exposure to Capital Market – Loans extended by banks to Mutual Funds and Issue of Irrevocable Payment Commitments (IPCs)
Please refer to our circular No.DBOD.Dir.BC.92/13.03.00/2007-2008 dated June 9, 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 September 13, 2008. On a review, it has been decided to extend the transition period by another three months, i.e., up to December 13, 2008.
Yours faithfully
(Prashant Saran) Chief General Manager-in-Charge
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