SECURITIES AND EXCHANGE BOARD OF INDIA
PRIMARY MARKET DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
BTI CIRCULAR NO. 2 (1999-2000)
June 17, 1999
To
ALL BANKERS TO ISSUES
Dear sirs,
Please refer to our BTI Circular No. 1 (98-99) dated June 17, 1998 issued to the Banks registered with the Board as Bankers to an Issue in the matter of maintaining principal account with other Bank for their own issues and also for payment of Refund Warrants, Dividend Warrants etc.
Board has received several representations over a period of time from various Banks and also from Indian Banks’ Association and Private Sector Banks’ Association. The matter was referred to Reserve Bank of India and they also recommended that Banks may be exempted from the requirements prescribed under the aforesaid Circular. In view of this the Board hereby exempts all Bankers to Issues from the requirements prescribed under its BTI Circular No. 1(98-99) dated June 17, 1998 till further instructions.
Kindly acknowledge receipt.
Yours faithfully,
D. RAVIKUMAR
DIVISION CHIEF
PRIMARY MARKET INTERMEDIARIES DIVISION
