With effect from May 5, 2001, lendings by non-bank participants in call/notice money market would be monitored against their respective limits in stage I, on product basis during the reporting fortnight corresponding to scheduled commercial banks. Accordingly, lending in call/notice money market during the reporting fortnight by any non-bank entity should not exceed, on average, 85 per cent of its daily average lending during the year 2000-01 during stage I. It may be

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.46.81 on 08.05.2001. 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 YEN04 May, 200146.830067.233841.723238.6508 May, 200146.810067.275341.639838.5800Note : The reference rate is based on 12 noon rates of a few select banks in Mumbai. The SDR-Ru

The Reserve Bank of India has announced the auction of 14 day Government of India treasury bills for a notified amount of Rs.100 crore. 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.Tenders should be submitted in the prescribed form on Friday, May 1

The Reserve Bank of India has notified on May 8, 2001 that Foreign Institutional Investors (FIIs) can now purchase equity shares and convertible debentures of M/s. Satyam Computer Services Ltd., up to 49 per cent of their paid up capital through primary and secondary markets in India, as the company has passed a resolution at its Board of Directors' and General Body Meetings to this effect. P.V. Sadanandan Asst. ManagerPress Release : 2000-01/1518 Monitoring of Invest

The Reserve Bank of India has announced the auction of 182 day Government of India treasury bills for a notified amount of Rs.100 crore. State Governments are allowed to participate as non-competitive bidders and 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

The 10.35 per cent ten year State Development Loans in respect of twenty seven State Governments opened for subscription for an aggregate notified amount of Rs.3800.00 crore on May 8, 2001. The subscriptions received aggregated Rs.5870.00 crore so far, exceeding the notified amount by more than Rs.2000 crore. Some subscriptions received at designated branches of State Bank of India/Associate Banks at District headquarters of the States, are still being reported. While

The Reserve Bank of India has announced the auction of 91 day Government of India treasury bills for a notified amount of Rs.100 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

The results of the RBI Repo/Reverse Repo auctions held on May 8, 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) Nil Nil 3 2752. Applications accepted for one day repo period: (i) Number (ii) Amount (Face Value in Rs.crore) (iii) Cut-off Rate (per cent) NA NA NA 1 50 8.753. Weighted average Cut-off Rate (per cent)

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 May 9, 2001 (Wednesday) 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.

(Amount in Rupees crore and rate in per cent per annum)1. Call/Notice Money Market*(i) Volumes BanksPrimary DealersNon-Bank InstitutionsTotalBorrowings97318810018541Lendings102982366212314787(ii) Interest RatesBorrowingsLendings (a)Weighted average rate7.237.29 (b) Range of rates6.50-8.306.80-8.302 Term Money Market*Volume(Turnover)Range of Rates50.008.60-8.603. Liquidity Support availed from RBI # Amount (outstanding)Rate of Interest 8022.00at Bank Rate4. Liquidity A