RBI/2008-09/323
DBOD.No.Dir.BC.98/13.03.00/2008-2009
December 12, 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 our
circular No.DBOD.Dir.BC.41/13.03.00/2008-2009 dated
September 10, 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 December 13,
2008. On a review, it has been decided to extend the transition period up to
March 31, 2009.
Yours faithfully
(P Vijaya Bhaskar)
Chief General Manager