RBI/2004/101

MPD.No. 255 /07.01.279/2004-05

August 6, 2004

Chairman and Managing Directors/Chief Executive Officers of All Commercial Banks / Financial Institutions

Dear Sir,

Merger of functions of erstwhile Industrial and Export Credit Department of Reserve Bank of India with Monetary Policy Department

Please refer to IECD circular No. RBI/2004/274 dated June 30, 2004 regarding merger of the various functions of erstwhile Industrial and Export Credit Department with other Departments of the Reserve Bank with effect from July 1, 2004.

As indicated therein, Monetary Policy Department has since taken over the functions relating to (i) Food Credit including statements and returns on food credit submitted by the State Bank of India, State Governments and Union Territories (ii) Commercial Paper, and (iii) Sectoral Deployment of Credit.

Accordingly, the following returns may please be submitted to the Principal Monetary Policy Adviser, Monetary Policy Department, Reserve Bank of India, Central Office, 24^th Floor, Central Office Building, Fort, Mumbai – 400 001.