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Investment of surplus funds by State/Central Co-operative Banks- All India Financial Institutions

RBI/2004-05/ 127


August 17, 2004

All State Co-operative Banks and District Central Co-operative Banks

Dear Sir,

Investment of surplus funds by State/Central Co-operative Banks- All India Financial Institutions

Please refer to our circular RPCD.RF.No.BC. 29/07.02.03/2001-02 dated September 25, 2001 on the above subject.

2. In this connection, we advise having drawn up a fresh list of All India Financial Institutions (AIFI) (copy enclosed), and advise that State/Central Co-operative Banks may invest in the bonds/ equity of these institutions subject to the limits prescribed in our circular RPCD.CO.RF.BC.65/07.02.03/2003-04 dated February 23, 2004.

3. All other terms and conditions stated in our guidelines on investment remain unchanged.

4. The contents of this circular may be placed before the Board of Directors of your bank.

5. Please acknowledge receipt to our concerned Regional Office

Yours Faithfully,


Chief General Manager In-Charge

Encl: As above

Revised List of All India Financial Institutions

1. Industrial Development Bank of India (IDBI)

2. Industrial Finance Corporation of India (IFCI)

3. Export - Import Bank of India (Exim Bank)

4. Industrial Reconstruction Bank of India (IRBI) now (Industrial Investment Bank of India)

5. National Bank for Agriculture and Rural Development (NABARD)

6. Small Industries Development Bank of India (SIDBI)

7. National Housing Bank (NHB)

8. Unit Trust of India (UTI)

9. Life Insurance Corporation of India (LIC)

10. General Insurance Corporation of India (GIC)

11. Risk Capital and Technology Finance Corporation Ltd. (RCTC)

12. Technology Development and Information Company of India Ltd. (TDICI)

13. Tourism Finance Corporation of India Ltd. (TFCI)

14. Shipping Credit and Investment Company of India Ltd. (SCICI)

15. Discount and Finance House of India Ltd. (DFHI)

16. Securities Trading Corporation of India Ltd. (STCI)

17. Power Finance Corporation Ltd.

18. Rural Electrification Corporation Ltd.

19. Indian Railways Finance Corporation Ltd.

20. Infrastructure Development Finance Co. Ltd.

21. Housing and Urban Development Corporation Ltd. (HUDCO)

22. Indian Renewable Energy Development Agency Ltd. (IREDA)