The Government of India has permitted 19 non-bank entities to enter into reverse repo transactions in treasury bills of all maturities issued by the Government of India and in such dated securities of the Government of India as are approved by the Reserve Bank of India, in consultation with the Central Government. The transactions will, however, have to be undertaken only at Mumbai and put through the Subsidiary General Ledger Account with the Reserve Bank of India. The non-bank entities are:

Canbank Mutual Fund

1. Export Credit Guarantee Corporation of India Ltd.
2. Export Import Bank of India
3. General Insurance Corporation of India Ltd.
4. GIC Mutual Fund
5. Indian Bank Mutual Fund
6. Industrial Credit & Investment Corporation of India Ltd.
7. Industrial Development Bank of India
8. IDBI Mutual Fund
9. ITC Thread Needle Mutual Fund
10. Life Insurance Corporation of India
11. National Bank for Agriculture and Rural Development
12. National Housing Bank
13. New India Assurance Company Ltd.
14. Oriental Insurance Company Ltd.
15. Reliance Capital Mutual Fund
16. SBI Mutual Fund
17. Small Industries Development Bank of India
18. Unit Trust of India.

Alpana Killawala
General Manager

Press Release : 1997-98/480