RBI/2004-05/440
Ref.No. MPD.263 /07.01.279/2004-05
April 28, 2005
Vaishakha 8, 1927 (S)
The Chairmen/Chief Executives of
All Scheduled Commercial Banks (excluding RRBs and LABs)
Dear Sirs
Certificates of Deposit
Please refer to paragraph 72 (iii) of the annual
policy Statement for the year 2005-06 dated April 28, 2005 (copy
of the paragraph enclosed). On a review, the minimum maturity period of
certificates of deposit (CDs) has been reduced from 15 days to 7 days with immediate
effect.
Yours faithfully
(Deepak Mohanty)
Adviser-in-Charge
Extract from the annual policy Statement for
the year 2005-06
72 (iii) Certificates of Deposit
The minimum maturity period of certificates
of deposit (CDs) reduced from 15 days to 7 days with immediate effect.
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