RBI/2007-08/359
DBOD.No.Dir.BC. 92/13.03.00/2007-2008 June 9, 2008 All
Scheduled Commercial Banks
(excluding RRBs) Dear
Sir Banks’ Exposure to Capital Market –
Loans extended by banks to Mutual Funds and
Issue
of Irrevocable Payment Commitments (IPCs) Please refer to paragraph
4 of our circular
No.DBOD.Dir.BC.57/13.03.00/2007-2008 dated December 14, 2007, in terms of
which a transition period of six months from the date of the circular was provided
to enable banks to comply with the requirements contained in the above circular.
On a review of the matter, it has been decided to extend the transition period
to comply with the requirements contained in the above circular by another three
months, i.e., up to September 13, 2008. Yours faithfully
(P.Vijaya Bhaskar)
Chief General
Manager |