Notifications

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Guidelines for Issue of Commercial Paper

Ref.No.IECD. 11 /08.15.01/2002-03

November 12, 2002

The Chairmen/Chief Executives of
All Scheduled Banks, Primary Dealers,
All-India Financial Institutions

Dear Sirs,

Guidelines for Issue of Commercial Paper

Please refer to our circular No.IECD.2/08.15.01/2001-02 dated July 23, 2001 giving the guidelines for issue of commercial paper (CP).

2. We had recently occasion to review the above guidelines with reference to submission of documents to the Reserve Bank of India. It has since been decided to discontinue the submission of documents by the Issuing and Paying Agents (IPAs) with Schedule II. Accordingly, we advise that the following documents need not be enclosed in future, and hence Schedule II is being amended to exclude:

  1. Copy of the latest audited balance sheet ( at item v)
  2. Copy of the credit rating certificate (at item ix)

The modified proforma is enclosed.

Yours faithfully,

(P. R. Chandran)
Dy.General Manager


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