July 2, 2001The Reserve Bank of India’s Reference Rate for the US dollar is Rs.47.07 on 2.07.2001. Based on the Reference Rate for US dollar and middle rates of the cross currency quotes at 12 noon, the exchange rates of major currencies against the rupee are given below : DateCURRENCY 1 USD1 GBP1 EURO100 YEN29 June, 2001 47.040066.157139.777037.9102 July, 200147.070066.500539.870637.7800Note : The reference rate is based on 12 noon rates of a few select banks in Mumb

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on June 25, 2001 the application for certificate of registration submitted by M/s. Sagar Securities Private Limited having its Registered Office at 801 A Ashiana Plaza, Budh Marg, Patna-800 001. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I

The results of the RBI Repo/Reverse Repo auctions held on July 02, 2001 are :ItemRepo 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) 1 6500 Nil NA2. Applications accepted for one day repo period: (i) Number (ii) Amount (Face Value in Rs.crore) (iii) Cut-off Rate (per cent) 1 3250 (partial) 6.50 NA NA NA3. Weighted average Cut-off R

The Reserve Bank of India under the Scheme of Liquidity Adjustment Facility, has announced one day repo auction and reverse repo auction in Government of India dated securities and treasury bills of all maturities of 91, 182 and 364 day Treasury Bills on July 3, 2001 (Tuesday) for scheduled commercial banks and Primary Dealers holding SGL Account and Current Account with it at Mumbai. The eligible banks/institutions may submit separate applications before 10.30 a.m. o

--------------------------------------------------------------------------- Loan Nomenclature Amount Price * YTM % Code (Face Value) Per Rs.100 Indicative (in Rs.Crore) nominal --------------------------------------------------------------------------- I. Outright Transactions A.Government of India Dated Securities Contract Date : June 27, 2001 00016 11.40 % 2008 5.00 112.37 9.0164 91012 11.50 % 2011 10.00 112.03 9.6096 01001 10.47 % 2015 25.00 105.60 9.7168 00018 11.

(Amount in Rupees crore and rate in per cent per annum)1. Call/Notice Money Market* (i) Volumes BanksPrimary DealersNon-Bank InstitutionsTotalBorrowings11559.0010122.00 21681.00Lendings11559.002379.003982.4717960.47(ii) Interest RatesBorrowingsLendings (a)Weighted average rate7.277.33 (b) Range of rates4.70-8.104.70-8.002 Term Money Market*Volume(Turnover)Range of RatesBorrowings154.007.15-11.00Lendings65.008.10-9.053. Standing Liquidity Facility Availed from RBI $ Am

Shri Vepa Kamesam and Shri G.P. Muniappan will take over as the Deputy Governors of the Reserve Bank of India from July 1, 2001. Both will hold charge for a period of two years or till they attain the age of 62 years, whichever is earlier. A graduate in Science, Shri Vepa Kamesam joined the State Bank of India as Probationary Officer in November 1963 and has held several important assignments. He has served as Manager, Money and Foreign Exchange at State Bank of India

The Reserve Bank of India has announced the auction of 91 day Government of India treasury bills for a notified amount of Rs.250 crore. The auction will be conducted using "Uniform Price Auction" method. The allocation to non-competitive bidders will be outside the notified amount, at the discretion of the Bank. The sale will be subject to terms and conditions specified in the General Notification No.F.2(12)-W&M/97 dated 31 March 1998 issued by Government of India

(Amount in Rupees crore and rate in per cent per annum)1. Call/Notice Money Market* (i) Volumes BanksPrimary DealersNon-Bank InstitutionsTotalBorrowings13646.0010333.00 23979.00Lendings14851.001983.004628.9121462.91(ii) Interest RatesBorrowingsLendings (a)Weighted average rate7.027.06 (b) Range of rates6.00-7.605.04-7.902 Term Money Market*Volume(Turnover)Range of RatesBorrowings -Lendings83.009.90-11.003. Standing Liquidity Facility Availed from RBI $ Amount (outstan

--------------------------------------------------------------------------- Loan Nomenclature Amount Price * YTM % Code (Face Value) Per Rs.100 Indicative (in Rs.Crore) nominal --------------------------------------------------------------------------- I. Outright Transactions A.Government of India Dated Securities Contract Date : June 17, 2001 91012 11.50 % 2011 15.00 112.03 9.6119 Contract Date : June 26, 2001 91019 11.50 % 2006 10.00 110.00 9.0810 01001 10.47 % 201