Ref.No.IECD. 11 /08.15.01/2002-03, Dt. 12/11/2002

Guidelines for Issue of Commercial Paper

The Chairmen/Chief Executives of
All Scheduled Banks, Primary Dealers,
All-India Financial Institutions

Dear Sirs,

Please refer to our circular No.IECD.2/08.15.01/2001-02 dated July 23, 2001 giving the guidelines for issue of commercial paper (CP).

2. We had recently occasion to review the above guidelines with reference to submission of documents to the Reserve Bank of India. It has since been decided to discontinue the submission of documents by the Issuing and Paying Agents (IPAs) with Schedule II. Accordingly, we advise that the following documents need not be enclosed in future, and hence Schedule II is being amended to exclude:

a. Copy of the latest audited balance sheet ( at item v)

b. Copy of the credit rating certificate (at item ix)

The modified proforma is enclosed.

Yours faithfully,

(P. R. Chandran)
Dy.General Manager

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SCHEDULE I

Stamp to be
Affixed as in force
in the State in which
it is to be issued

-------------------------------------------------------------------------
(NAME OF THE ISSUING COMPANY/INSTITUTION)

SERIAL NO.

Issued at :--------------------------------------- Date of issue :------------------------------------

(PLACE)

Date of Maturity:-------------------------------------------- without days of grace.(If such date happens to fall on a holiday, payment shall be made on the immediate preceding working day)For value received -------------------------------------------------------------hereby			(NAME OF THE ISSUING COMPANY/ INSTITUTION)Promises to pay ------------------------------------------------------or order on the			(NAME OF THE INVESTOR)maturity date as specified above the sum of Rs.--------------------------------(in words) upon presentation and surrender of this Commercial Paper to-----------------------------------------------------------------------------------------------			(NAME OF THE ISSUING AND PAYING AGENT)For and on behalf of -------------------------------------------------------------------				(NAME OF THE ISSUING COMPANY/INSTITUTION)	AUTHORISED 								AUTHORISED	SIGNATORY 								SIGNATORYALL ENDORSEMENTS UPON THIS COMMERCIAL PAPER MUST BE CLEAN AND DISTINCT.EACH ENDORSEMENT SHOULD BE WRITTEN WITHIN THE SPACE ALLOTTED.Pay to ----------------------------------------------------------------------------- or order			(NAME OF TRANSFEREE)the amount within named.For and on behalf of-----------------------------------------------------------------------------------------------				(NAME OF THE TRANSFEROR)-----------------------------------------------------------------------------------------------	1. 					"	2. 					"	3. 					"	4. 					"	5. 					"	6. 					"	7. 					"	8. 					"

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SCHEDULE II

Proforma of information to be submitted by the
Issuer for issue of Commercial Paper
To be submitted to The Reserve Bank through the Issuing and Paying Agent(IPA)

To:

The Chief General Manager
Industrial and Export Credit Department
Reserve Bank of India
Central Office
Mumbai-400 001.

Through: (Name of IPA)

Dear Sir,

Issue of Commercial Paper

In terms of the guidelines for issuance of commercial paper issued by the Reserve Bank dated July 23, 2001, we have issued Commercial Paper as per details furnished hereunder :

	i)	Name of the Issuer			:	ii)	Registered Office and Address 	:	iii)	Business activity			:	iv)	Name/s of Stock Exchange/s		with whom shares of the 		:		issuer are listed (if applicable)	v)	Tangible net worth as per latest		audited balance sheet 		:	vi)	Total Working Capital Limit		:	vii)	Outstanding Bank Borrowings	:		viii)	(a) Details of Commercial Paper		 issued (Face Value) 		:	Date of 	Date of 	Amount	Rate							Issue 	Maturity						 i)						 ii)		(b) Amount of CP outstanding		 (Face Value) including the 	:		 present issue	ix)	Rating(s) obtained from the 			i)		Credit Rating Information		Services of India Ltd.(CRISIL)		ii)		or any other agency approved		by the Reserve Bank			iii)	x)	Whether standby facility has		been provided in respect of		CP issue ?	xi)	If yes		i) the amount of the 		:	Rs.		crore		 standby facility		ii) provided by		 (Name of bank/FI)								For and on behalf of									------------------------									(Name of the issuer)
SCHEDULE IIICERTIFICATEWe have a valid IPA agreement with the -----------------------------------------------------					(Name of Issuing Company/Institution)2. We have verified the documents viz., board resolution and certificate issuedby Credit Rating Agency submitted by ---------------------------------------------------------					(Name of the Issuing Company/Institution)and certify that the documents are in order. Certified copies of original documentsare held in our custody.3.* We also hereby certify that the signatures of the executants of the attached CommercialPaper bearing Sr. No. ______________ dated _______________ forRs._______________ (Rupees _______________________________________)					(in words)tally with the specimen signatures filed by _____________________________________________					( Name of the issuing Company/Institution)							(Authorised Signatory/Signatories)					 (Name and address of Issuing and Paying Agent)	Place	:	Date	:	* (Applicable to CP in physical form)

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