RBI/2008-09/422
DBOD.No.Dir.BC. 119 /13.03.00/2008-2009
March 30, 2009
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 our circular No.DBOD.Dir.BC.98/13.03.00/2008-2009 dated December
12, 2008, in terms of which the transition period allowed to banks to comply
with the requirements contained in our circular No.DBOD.Dir.BC.57/
13.03.00/2007-2008 dated December 14, 2007, was extended up to March 31, 2009.
On a review, it has been decided to further extend the transition period up to
June 30, 2009.
Yours faithfully
(Vinay Baijal)
Chief General Manager