DBOD.No. FSC.BC.49/24.01.001/97-98 June 2, 1998 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 |