December 17, 2004

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

Dear Sir,

Reporting of Call/Notice Money Market Transactions

Please refer to our circular UBD No. DS. PCB. CIR. 31/13.01.00/2001-02 dated February 16, 2002 advising the UCBs to report their call/notice money transactions on a daily basis by fax to the Advisor-in-Charge, Monetary Policy Department (MPD), R.B.I., Central Office, Mumbai. It is also mandatory for all Negotiated Dealing System (NDS) members to report all their call/notice money market deals on the NDS platform. (Ref. No. UBD. BPD. Cir. 7/13.01.00/2002-03 dated May 3, 2003.)

2. With the stabilisation of reporting of call/notice money transactions over NDS as also to reduce reporting burden, it has been decided to discontinue the practice of reporting of call/notice/term money transactions by fax to MPD with effect from December 11, 2004. However, deals between non-NDS members will continue to be reported to MPD as hitherto.

3. In case situation so warrants, Reserve Bank may call for information in respect of money market transactions of eligible participants by fax.

4. Please acknowledge receipt of this circular to the concerned Regional Office.

Yours faithfully,

(N. S. Vishwanathan)

Chief General Manager