Research and Publications

4. Liquidity Adjustment Facility Amount Accepted Rate Repo 1 Day 29595.00 4.50 Amount Outstanding 29595.00 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.

The results of the RBI repos/reverse repo auctions held on December 30,2003 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) 5129595 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) 51295954.50 N.A.N.A.N.A. 3.Weighted average Cut-off

December 30,2003The Reserve Bank of India’s Reference Rate for the US dollar is Rs.45.6400 and the Reference Rate for Euro is Rs.57.0200 on December 30,2003. The corresponding rates for the previous day (December 29,2003) were Rs.45.6600 and Rs.56.8800 respectively. Based on the Reference Rate for US dollar and middle rates of the cross currency quotes at 12 noon, the exchange rates of GBP and Japanese Yen against the rupee are: Date Currency 1 GBP 100 YEN December 29

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

(Amount in Rupees crore and rate in per cent per annum)2. Term Money Market*Volume(Turnover)Range of RatesBorrowings 284.00 4.50 - 4.60Lendings 409.00 4.55- 5.90* Data covers 90-95 per cent of total transactions reported by participants.

(Amount in Rupees crore and rate in per cent per annum)3. Standing Liquidity Facility Availed from RBI Amount (Outstanding)Rate of InterestNormal 0.98 at Bank RateBack-Stop 0.00

(Amount in Rupees crore and rate in per cent per annum)1. Call/Notice Money Market* (i) Volumes Banks Primary Dealers Non-Bank Institutions Total Borrowings 3080.00 9146.00 12226.00 Lendings 6578.00 62.00 3861.93 10501.93 (ii) Interest Rates Borrowings Lendings (a)Weighted average rate 4.46 4.48 (b) Range of rates 3.50- 4.60 4.00- 4.60* Data covers 90-95 per cent of total transactions reported by participants.

(Amount in Rs. crore) For the Week Ended Dec. 12, 2003 For the Week Ended Dec. 19, 2003 Item Amount YTM (%PA) Indicative** Amount YTM (%PA) Indicative** Minimum Maximum Minimum Maximum 1 2 3 4 5 6 7 I. Outright Transactions 1. Govt. of India Dated Securities Maturing in the year 2003-04 90 4.2608 4.3662 50 4.5894 — 2004-05 1 — — 1 — — 2005-06 280 4.4728 4.5249 244 4.4266 4.4996 2006-07 81 4.5516 4.5925 93 4.6012 4.8023 2007-08 180 4.6909 4.9643 236 4.6800 4.7989 2008-

DBOD.No.Leg.BC.60 /09.07.005/2003-04 December 27, 2003ToAll Scheduled Commercial Banks(Excluding RRBs)Dear Sir,Ad hoc Committees on Procedures and Performance Audit on Customer Services in BanksPlease refer to Paragraph 78 of the Statement on the Mid Term Review of Monetary and Credit Policy for the year 2003-2004.2. In order to support broad-based improvement in customer services in relation to various banking services, each bank is advised to constitute an Ad hoc Co

Reserve Bank of India Exchange Control Department Central Office Mumbai A.P.(DIR Series) Circular No. 54 December 20, 2003 To All Authorised Dealers in Foreign Exchange Madam / Sirs, Investment by an unincorporated entity under Foreign Direct Investment (FDI) Scheme Attention of Authorised Dealers is invited to Regulation 5(1) of Notification No. FEMA 20/2000-RB dated May 3, 2000, in terms of which, besides a person resident outside India (other than a citizen of Bang