May 11, 2001The Reserve Bank of India’s Reference Rate for the US dollar is Rs.46.87 on 11.05.2001. 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 YEN10 May, 2001 46.850066.676941.539638.3411 May, 2001 46.870066.642141.280838.2200Note : The reference rate is based on 12 noon rates of a few select banks in Mumb

The Reserve Bank of India has today notified that it has withdrawn the restriction placed on the purchase of shares of ICICI Bank Ltd. on behalf of Foreign Institutional Investors (FIIs). The restriction has been withdrawn as the aggregate holdings of FIIs in ICICI Bank Ltd. have gone below 22 per cent of its paid up capital. This has happened as the capital of ICICI Bank Ltd. has increased on account of the merger of Bank of Madura Ltd. with ICICI Bank Ltd. Ajit Pras

In pursuance of the announcement made in October, 2000 in the Mid-term Review of the Monetary and Credit Policy for the year 2000-2001, the RBI-SEBI Technical Committee had reviewed the RBI guidelines set out in circular dated November 10, 2000 on banks’ investment in shares as also advances against shares and other connected exposures. Based on the feed back received from banks and market participants on the recommendations made by the Technical Committee and the dra

The results of the RBI Repo/Reverse Repo auctions held on May 11, 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) Nil Nil 47 65702. Applications accepted for three day repo period: (i) Number (ii) Amount (Face Value in Rs.crore) (iii) Cut-off Rate (per cent) NA NA NA 36 6215 8.753. Weighted average Cut-off Rate

(Amount in Rupees crore and rate in per cent per annum) 1. Call/Notice Money Market* (i) Volumes Banks Primary Dealers Non-Bank Institutions Total Borrowings 12605.00 7987.00 0 20592.00 Lendings 12378.00 2455.00 4082.00 18915.00 (ii) Interest Rates Borrowings Lendings (a)Weighted average rate 9.13 9.19 (b) Range of rates 7.50-9.50 7.15-9.95 2 Term Money Market* Volume(Turnover) Range of Rates Borrowings 60.00 9.90- 11.50 Lendings 80.00 10.74- 11.50 3. Standing Liquidi

--------------------------------------------------------------------------- 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 : May 05, 2001 00017 11.50 % 2011 25.00 109.12 10.0747 98021 12.40 % 2013 25.00 112.20 10.5961 Contract Date : May 08, 2001 98013 11.55 % 200

The Reserve Bank of India will shortly be issuing Rs.50 notes in Mahatma Gandhi Series bearing the signature of Dr. Bimal Jalan, Governor with capital letter "E" inset in both numbering panels. Except for this change, the design of the Rs.50 notes to be issued now is similar to those issued earlier in the 'Mahatma Gandhi' Series. All Rs.50 denomination notes issued by the Bank in the past will continue to be legal tender.P.V. Sadanandan Asst. ManagerPress Release : 20

May 10, 2001The Reserve Bank of India’s Reference Rate for the US dollar is Rs.46.85 on 10.05.2001. 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 YEN09 May, 200146.830066.854541.451638.500010 May, 200146.850066.676941.539638.3400Note : The reference rate is based on 12 noon rates of a few select banks in Mumb

The results of the RBI Repo/Reverse Repo auctions held on May 10, 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 49 60952. 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 36 5630 8.753. Weighted average Cut-off Rate (per

The Reserve Bank of India under the Scheme of Liquidity Adjustment Facility, has announced three 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 11, 2001 (Friday) 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