ALL BANKERS TO ISSUES
Requirement of submitting Annual Statement of activities undertaken as Bankers to Issues.
Please refer to our RBTI ( G I Series) Circular No.1(95-96) dated April 21, 1995. In terms of the aforesaid Circular all Bankers to Issues are required to submit quarterly reports for each quarter of the year and annual report for each financial year in respect of their activities pertaining to Bankers to Issues in prescribed formats. It was also required to submit quarterly reports within 3 weeks of the last day of the quarter and the annual report within 2 months of the close of the financial year. A copy of the aforesaid Circular was once again forwarded to the Banks vide our letter No. PMD/SU/2715/98 dated May 26, 1998 for necessary compliance.
However, it has been observed that still a number of Banks do not submit the annual report pertaining to their activities as bankers to Issues in the specified format but merely forward a copy of their annual report pertaining to general banking activities.
Banks are once again advised to forward the annual statement of their activities undertaken as Bankers to Issues in accordance with the aforesaid circular and ensure that all the required information are furnished in the specified format and quarterly as well as annual reports pertaining to their activities as Bankers to issues are submitted on time.
D. RAVIKUMAR DIVISION CHIEF PRIMARY MARKET INTERMEDIARIES DIVISION