RBI/2004-05/377
DBOD.No.BP.BC.71/21.01.01/2004-05

February 28, 2005

To

The Chairmen and Chief Executive Officers, all Scheduled Commercial Banks

Dear Sir,

Roadmap for presence of Foreign Banks in India and Ownership and Governance in Private Sector banks

Reserve Bank of India has today released a Roadmap for presence of Foreign Banks in India and Guidelines on Ownership and Governance in Private Sector banks. These documents are enclosed for guidance of all concerned. A copy of the Press Release summarizing the salient features of the above mentioned documents is also enclosed.

Yours faithfully,

(C.R. Muralidharan)

Chief General Manager-in-Charge