The banks referred to the operational problems in enforcing the minimum prescribed percentages in the context of the statement on "Mid-Term Review of Monetary and Credit Policy for the year 1999-2000", announced by Governor on October 29, 1999, wherein banks have been given freedom to charge interest rate on discounting of bills without reference to PLR. It is now expected that banks will be able to offer competitive rate of interest on the bill discounting facility in view of predetermined dates of repayment and that corporates will be motivated to go in for the bill route for receiving/paying their credit sales/credit purchases, in view of the cost advantage likely to accrue to them. Banks reiterated their commitment to give maximum support to development of the bills culture in the country.