Increase in CRAR- Extension of time

As announced in the Annual Policy Statement for 2008-09 a review of CRAR for NBFCs-ND-SI was done and it was raised from 10 per cent to 12 per cent by March 31, 2009 and further to 15 per cent by March 31, 2010, in terms of circular DNBS (PD). CC. No. 125/03.05.002 / 2008-2009 dated August 1, 2008. Taking into account the difficulty in raising equity capital in the current economic environment, it has been decided to defer the implementation of CRAR of 12 per cent and 15 per cent to March 31, 2010 and March 31, 2011 respectively.

2.  Please acknowledge receipt to the Regional Office of the Department of Non-Banking Supervision, Reserve Bank of India under whose jurisdiction the Registered Office of your company is situated.

(P. Krishnamurthy)
Chief General Manager-in-Charge