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click here to return to main page of Annual Monetary and Credit Policy 2004-2005




Annual Monetary and Credit Policy for the year 2004-2005



Monetary Policy Measures- PAGE 2

16. Clearing of OTC derivatives through CCIL being considered.

17. CCIL to work out arrangement for settlement of trades in non-SLR debt instruments for NDS members.

18. Discussion paper on Capital Indexed Bonds being put in public domain.

19. The ECB limit already enhanced to US $ 500 million under the automatic route for investment in the real sector.

20. Resident individuals already permitted to remit freely up to US $ 25,000 per calendar year.

21. Indian corporates and partnership firms allowed to invest overseas upto 100 per cent of their net worth.

22. Banks allowed to raise long-term bonds to finance infrastructure.

23. The extant limit on unsecured exposures for banks withdrawn.

24. Exposures on all public financial institutions (PFIs) to attract a risk weight of 100 per cent.

25. Banks required to maintain capital charge for market risk in a phased manner.

26. Banks to draw a road map for migration to Basel II.

27. Banks to make higher provisioning according to the age of NPAs.

28. Banks/FIs to provide credit information to CIBIL.

29. Banks to fully adhere to the KYC policy for opening new accounts.

30. Report of the Working Group on Financial Conglomerates is being put in public domain.

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