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click here to return to main page of Mid-term Review of Annual Policy for the year 2004-05
Highlights of Mid-term Review of Annual Policy for the year 2004-05
Financial Sector Reforms and Monetary Policy Measures
Report of Working Group on Credit Enhancement by State Governments is expected shortly.
Further move towards pure inter-bank call/notice money market.
The minimum maturity period of CP is reduced to 7 days.
IPAs to report issuance of CP on the NDS platform by the end of the day.
Group to suggest rationalisation and standardisation of processing, settlement and documentation of CP issuance.
Automated value-free transfer of securities between market participants and the CCIL facilitated.
The Report of the Group on Negotiated Dealing System (NDS) is being placed in the public domain.
Capital Indexed Bonds to be introduced during the year 2005-06 in consultation with the Government.
The Report of the Working Group on Primary Dealers to be placed before the TAC.
Settlement of OTC Derivatives through CCIL expected to be operationalised by March 2005.
Group on Corporate Debt is expected to submit its Report in January 2005.
The ceiling on MSS raised from Rs.60,000 to Rs.80,000 crore.
A study Group to be constituted for strengthening OMO framework.
Guarantee by ADs for trade credit liberalised.
Time limit for export realisation relaxed for EOUs.
Booking of forward contracts by exporters/importers relaxed.
An internal Group on forex market constituted.
RBI to undertake fresh survey on impact of trade related measures.
RBI would prepare draft guidelines for implementation of Basel II norms and place them in the public domain.
A second Draft Guidelines on Ownership and Governance will be put in public domain soon.
Necessary instructions on "Fit and Proper" criteria issued to private sector banks.
All cases of penalty imposed by RBI as also strictures/directions arising out of inspection will be placed in the public domain.
Temporary risk containment measures prescribed on housing and consumer loans.
Banks to comply with prudential guidelines on non-SLR securities.
Prudential norms for classification of doubtful assets for FIs announced.
Approaches for supervision of DFIs and large NBFCs proposed.
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