Research and Publications

(US$ Million) MerchantInter-bank FCY / INRFCY / FCYFCY / INRFCY / FCY SpotForwardForwardSpotForwardForwardSpotSwapForwardSpotSwapForward Cancel- Cancel- Position Date lation lation 1 2345678910111213 Purchases Dec.15, 200348533086140981961111206867837037 Dec.16, 200362414189139144236378972479448630 Dec.17, 200359516972109195080810605789420029 Dec.18, 2003543201819652237611240226312856 Dec.19, 2003528217115123731263882019059927211 Sales Dec.15, 200349914627712514117578

Variation overItemAs on Jan. 2, 2004WeekEnd-March 2003End-December 2003Year Rs.CroreUS$ Mn. Rs.CroreUS$ Mn.Rs.CroreUS$ Mn.Rs.CroreUS$ Mn.Rs.CroreUS$ Mn.1234567891011Total Reserves4,65,4961,02,1036,8601,5131,07,21626,6751,0262681,25,74331,351of which : (a)Foreign Currency Assets4,46,25897,8856,1851,336*1,04,78225,9951,0262681,23,08030,584(b)Gold19,2254,215 6751772,440681--2,683771(c) SDRs133 ––—–6–1--–20–4Memo Item : RTP**5,9981,316 44102,808644-4-2,826655 * : Foreign

(Rs. crore) Week EndedItems Nov. 28, 2003Dec. 5, 2003Dec. 12, 2003Dec. 19, 2003Dec. 26, 2003Jan. 2, 20041 234567I.Outright Transactions (a)Govt. of India Dated Securities26,09737,35131,91041,84442,01347,311 (b)State Government Securities492464611990374777 (c)91 – Day Treasury Bills2,2049252,1541,3811,7452,286 (d)364 – Day Treasury Bills1,6712,4381,7901,3871,6074,096II.RBI*3411021——157@ : Excluding Repo Transactions.* : RBI's sales and purchases include transactions in

(Rs. crore)Fortnight endedTotal AmountIssued duringRate of Interest Outstanding #the fortnight #(percent) @1 2 3 4 Jan.10, 20031,199 59 4.37 — 6.61 Apr. 4, 20031,188 25 5.25 — 7.40 Jul.11, 20032,242 44 4.45 — 6.25 Oct. 3, 20033,154 48 3.75 — 6.75 Nov.14, 20033,511 224 4.50 — 7.00 Nov.28, 20033,666 226 3.75 — 6.10 @ : Effective interest rate range per annum.

Date of Auction :January 07,2004 I. Notified amount : 1000.00 crore II. Competitive Bids received (i) Number : 32 (ii) Amount : 1350.00 crore III. Cut-off price : 95.81 IV. Competitive bids accepted (i) Number : 24 (ii) Amount : 1000.00 crore V. Partial Allotment Percentage of Comp. Bids : N.A. VI. Weighted Average Price : 95.87 VII. Non-competitive bids received (i) Number : 1 (ii) Amount : 2.50 crore VIII. Non-competitive bids accepted (i) Number : 1 (ii) Amount : 2

January 9, 2004RBI/2004/9RPCD.No. Plan.BC.61 /04.09.22/2003-04The Chairman/Managing DirectorConvener Banks of SLBC/Lead BanksDear Sir,Credit flow to the unorganised sectorAn action plan to enhance financial flows to unorganised sector has been prepared by the Banking Division of the Ministry of Finance, Government of India. In the action plan, it has been proposed that in order to give a boost to the ongoing SHG bank linkage programme for credit flow to the unorganise

The results of the RBI repos/reverse repo auctions held on January 09,2004 are: Items Repo Auction (Sale of securities by RBI) Reverse Repo Auction(Purchase of securities by RBI) 1.Applications received for one day repo period: (i) Number (ii) Amount (Face value in Rs. crore) 5029640 NilN.A. 2.Applications accepted for one day repo period: (i) Number (ii) Amount (Face value in Rs. crore) (iii)Cut-off Rate (per cent) 50296404.50 N.A.N.A.N.A. 3.Weighted average Cut-off

4. Liquidity Adjustment Facility Amount Accepted Rate Repo 1 Day 32330.00 4.50 Amount Outstanding 32330.00 14-Day 0.00 Amount Outstanding 6965.00 Reverse Repo 1 Day 0.00 Amount Outstanding 0.00 * Data covers 90-95 per cent of total transactions reported by participants.

(Amount in Rupees crore and rate in per cent per annum)5. RBI's OMO net sales(-)/purchases(+)0.00

(Amount in Rupees crore and rate in per cent per annum)3. Standing Liquidity Facility Availed from RBI Amount (Outstanding)Rate of InterestNormal 0.00 at Bank RateBack-Stop 0.00