DBOD No.FSC.BC. 86 /24.92.001/2002-03

March 26, 2003

All Commercial Banks
(Excluding RRBs and LABs)

Dear Sir,

Permission to participate in Call/Notice/Term
Money Market and Bills Rediscounting Scheme -Primary Dealers

Please refer to our circular DBOD No.FSC.BC.20/24.92.001/99 dated March 10, 1999 in terms of which Tata TD Waterhouse Securities Ltd.(erstwhile Tata Finance Securities Ltd.) was, among others, permitted to participate both as a lender and a borrower in the Call/Notice/Term Money Market and Bills Rediscounting Scheme. Consequent upon withdrawal of authorisation to act as a Primary Dealer with effect from close of business on February 06, 2003, it is advised that the permission granted to Tata TD Waterhouse Securities Ltd. to operate in the Call/Notice/Term Money Market and Bills Rediscounting Scheme stands revoked.

2. Amendments may please be carried out to Part A of the Annexure I and also to Annexure II to paragraph 22.6 of the Manual of Instructions Vol.I Part II by deleting the name of the above institution.

3. Please acknowledge receipt.

Yours faithfully,

(Dr. N. Krishna Mohan)
General Manager