DBOD.No. FSC.BC.49/24.01.001/97-98

June 2, 1998
Jyestha 12, 1920 (Saka)

All Scheduled Commercial Banks

Dear Sir,

Reports/reviews submitted by banks to RBI

A review of the various Statements/Reports submitted by banks to RBI was undertaken by us recently. Having regard to the need for rationalising the various Returns submitted by banks it has been decided that banks need not henceforth submit to RBI the following Reports/Reviews.

(i) Review Reports on the working of banks' Subsidiaries and of companies offering financial services in which banks have made portfolio investments (being submitted vide Circular DBOD No. FSC. BC. 94/24.01.001/92-93 dated 19 March 1993).

(ii) Review Reports on merchant banking and para banking activities undertaken Departmentally (being submitted vide Circular DBOD No. BP. 1917/C.469-88 dated 16 May 1988).

(iii) Review Reports on equipment leasing, hire purchase, factoring etc. undertaken by banks Departmentally (being submitted vide Circular DBOD. No. FSC. BC. 18/24.01.001/93-94 dated 19 February 1994.)

2. Banks should, however, place Review Reports at (i) on Half-yearly basis and (ii) & (iii) on Annual basis before the Board of Directors/Management Committee of the Board.

Yours faithfully,

(Chitra Chandramouliswaran)

General Manager