Date of Auction :March 16, 2001I.Notified amount: Rs.100.00 crore II.Bids received (a) Competitive bids Number:17 Amount:Rs.172.00 crore (b) Non-competitive bids Number:1 Amount:Rs.50.00 crore III.Cut-off price:Rs.97.92 IV.Competitive bids accepted Number:12 Amount:Rs.100.00 crore V.Partial Allotment Percentage:5.62 (5 bids) VI .Devolvement on RBI:NIL VII.Non-competitive bids accepted (a) Number:1 Amount:Rs.50.00 crore (b)Partial Allotment Percentage:N.A.Ajit Prasad M

March 16, 2001The Reserve Bank of India’s Reference Rate for the US dollar is Rs.46.67 on 16.03.2001. 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 YEN15th March, 200146.650067.409342.421238.660016th March, 200146.670067.076541.898038.1200Note : The reference rate is based on 12 noon rates of a few select ban

The Reserve Bank of India has rejected the licence application of The Pranabananda Co-operative Bank Ltd., Burdwan, West Bengal to carry on banking busines in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise

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 March 12, 2001 the application for certificate of registration submitted by M/s. Apurw Finance Ltd., having its Registered Office at Arrah-Sasaram Road, Bikramganj, Bihar-802 212, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking finan

The results of the RBI Repos/Reverse Repo auctions held on March 16, 2001 are :ItemRepo Auction (Sale of securities by RBI)Reverse Repo Auction (Purchase of securities by RBI)1. Applications received for three day repo period (i) Number (ii) Amount (Face value in Rs. crore) 1 7500 8 10352. Applications accepted for three day repo period (i) Number (ii) Amount (Face Value in Rs.crore) (iii) Cut-off Rate (per cent) 1 7500 7.00 8 1035 9.00

(Amount in Rupees crore and rate in per cent per annum)1. Call/Notice Money Market*(i) Volumes BanksPrimary DealersNon-Bank InstitutionsTotalBorrowings176047247024851Lendings109962544517218712(ii) Interest RatesBorrowingsLendings (a)Weighted average rate7.407.53 (b) Range of rates6.80-8.007.00-8.002 Term Money Market*Volume(Turnover)Range of Rates20467.75-12.003. Liquidity Support availed from RBI # Amount (outstanding)Rate of Interest 8667at Bank Rate4. Liquidity Adj

The Government of India has reduced the rate of interest payable on Relief Bonds issued under 9% Relief Bonds, 1999 Scheme from 9% per annum to 8.5% per annum with effect from March 15, 2001. Consequent to the change, the Relief Bonds issued on or after March 15, 2001 will bear interest at 8.5% per annum and simultaneously the sale of bonds bearing interest at 9% per annum will cease. Valid applications up to the date of receipt of Government decision by the receiving

--------------------------------------------------------------------------- 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 : March 12, 2001 98004 11.10 % 2003 2.00 103.85 9.0113 Contract Date : March 13, 2001 98013 11.55 % 2001 2.00 100.80 8.7152 97009 10.85 % 200

All Figures are in USD MillionsMerchantInterBank FCY/INRFCY/FCYFCY/INRFCY/FCYPositionSpotForwardForwardSpotForwardForwardSpotSwapForwardSpotSwapForwardDateCancel- ationCancel- ationPURCHASES20/02/200143210683632236341,268108485106622/02/200166311146211068311,149864761081223/02/2001348123141651436931,031803359811SALES20/02/200146723239628256051,16797492113622/02/20014613015710867931,074715041131123/02/20013533241264152645932813519811

March 15, 2001The Reserve Bank of India’s Reference Rate for the US dollar is Rs.46.65 on 15.03.2001. 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 YEN14 March, 200146.690067.630542.686338.8615 March, 200146.650067.409342.421238.6600Note : The reference rate is based on 12 noon rates of a few select banks in