DBOD.No.BC.9/12.02.001/2000-2001

July 21, 2000
Aashadha 30, 1922(Saka)

Dear Sir,

We invite your attention to circular No.MPD.198/07.01.279/2000-2001 dated July 21, 2000 issued by our Monetary Policy Department, in terms of which the Bank Rate has been increased by one percentage point from `7.0 per cent per annum' to `8.0 per cent per annum' with effect from the close of business on 21^st July 2000. Consequently, the penal rate of interest charged on the amount of shortfalls in the maintenance of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) which is linked to Bank Rate stands revised from the close of business on 21^st July 2000.

Yours faithfully,

( R.C.Mittal )
General Manager