RBI/ 2004-05/ 61

UBD. No. PCB. Cir. 5 / 16.20.00 / 2004-05

July 22, 2004

The Chief Executive Officers of all Primary (Urban) Co-operative Banks

Dear Sir,

Please refer to para b,8(i) and Appendix- II of our circular UBD. No. BPD. PCB. Cir. 45/ 16.20.00/ 2003-04 dated April 15, 2004 wherein Urban Co-operative Banks were advised that they can invest in bonds / equity of All India Financial Institutions, subject to the limits prescribed in para 8 (ii) and (iii) thereof.

2. In this connection, we advise having drawn up a fresh list of institutions, and advise that the UCBs can invest in the bonds/equity of these institutions subject to the various limits prescribed in the aforesaid circular. We forward herewith the revised list and advise that all other terms and conditions stated in our guidelines on Investment in non-SLR debt securities by Primary (Urban) Co-operative Banks remain unchanged.

3. Please acknowledge receipt to our concerned Regional Office.

Encl: 1

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)
5. National Bank for Agriculture and Rural Development ( NABARD )
6. Small Industries Development Bank of India ( SIDBI )
7. National Housing Bank ( NHB )
8. Unit Trust of India ( UTI )
9. Life Insurance Corporation of India ( LIC )
10. General Insurance Corporation of India ( GIC )
11. Risk Capital and Technology Finance Corporation Ltd. ( RCTC )
12. Technology Development and Information Company of India Ltd.(TDICI )
13. Tourism Finance Corporation of India Ltd. ( TFCI )
14. Shipping Credit and Investment Company of India Ltd. ( SCICI )
15. Discount and Finance House of India Ltd. ( DFHI )
16. Securities Trading Corporation of India Ltd. ( STCI )
17. Power Finance Corporation Ltd.
18. Rural Electrification Corporation Ltd.
19. Indian Railways Finance Corporation Ltd.
20. Infrastructure Development Finance Co. Ltd.
21. Housing and Urban Development Corporation Ltd. (HUDCO)
22. Indian Renewable Energy Development Agency Ltd. (IREDA)