To
All Scheduled Commercial Banks (excluding Regional Rural Banks)/ Co-operative Banks/ Primary Dealers/ select Financial Institutions/
Insurance Companies/ Mutual Funds

Dear Sirs

Reporting of Call/Notice Money Market Transactions

As indicated in paragraph 5 of the Master Circular No. MPD. BC.253/07.01.279/ 2004-05 dated July 03, 2004, eligible participants are required to report their call/notice money transactions on a daily basis by fax to the Monetary Policy Department (MPD). It is also mandatory for all Negotiated Dealing System (NDS) members to report all their call/notice money market deals on the NDS platform.

2. With the stabilisation of reporting of call/notice money transactions over NDS as also to reduce reporting burden, it has been decided to discontinue the practice of reporting of call/notice/term money transactions by fax to MPD with effect from December 11, 2004. However, deals between non-NDS members will continue to be reported to MPD as hitherto.

3. In case situation so warrants, Reserve Bank may call for information in respect of money market transactions of eligible participants by fax.

4. Kindly acknowledge receipt.

Yours faithfully,