IECD.No.2/04.02.01/2003-04

October 7, 2003

The Chairmen/Chief Executives
of all commercial banks

Dear Sir,

Please refer to our circular IECD.No.8/04.02.01/2002-03 dated September 28, 2002 extending the Special Financial Package upto September 30, 2003.

It has been decided to further extend the validity period of the Financial Package upto September 30, 2004.

As regards interest rates, the instructions contained in our circular IECD.No.18/04.02.01/2002-03 dated April 30, 2003, continue to apply.

Please acknowledge receipt.

Yours faithfully,