Bonds listing deadline extended

Mumbai: The Reserve Bank of India (RBI) has extended the deadline on the compliance of the guidelines for banks on non-statutory liquidity ratio (SLR) investments to 31 March 2004. Accordingly, the guidelines will come into effect from 1 April 2004, according to an RBI press release.

The apex bank had in consonance with the guidelines issued by the Securities and Exchange Board of India (SEBI) on privately placed corporate debt securities, issued guidelines for non-SLR investments by banks on 12 November.

"While the guidelines have been welcomed by market participants, they urged that they needed time to develop appropriate procedures and adjust their portfolios to be in full conformity with the guidelines," the RBI said.