DBOD.No.FSC.BC. 85 /24.91.001/2002-03

March 26, 2003

All Commercial Banks
(excluding RRBs and LABs)

Dear Sir,

Permission to participate in Call/Notice
Money Market and Bills Rediscounting
Scheme - Private Sector Mutual Funds

Please refer to our circular DBOD. No. FSC. BC. 68 /24.91.001/ 95 dated June 27, 1995 in terms of which IDBI Mutual Fund was permitted access in the Call/Notice Money Market and Bills Rediscounting Scheme as lender. With the change in name of " IDBI Mutual Fund " to " IDBI-Principal Mutual Fund ", it is advised that IDBI-Principal Mutual Fund is permitted to participate, only as a lender, in the Call/Notice Money Market (overnight call money and short notice money for period upto and including 14 days) and Bills Rediscounting Scheme.

2. The following consequential amendment may be carried out in the Manual of Instructions Vol.I - Part - II :- The present items No.22 and 29 of sub-para B of Annexures I and II respectively to Para 22.6 may be read as " IDBI-Principal Mutual Fund ".

3. Please acknowledge receipt.

Yours faithfully,

(Dr. N. Krishna Mohan)
General Manager