Participation of Banks in Interest Rate Derivatives Market

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....in Interest Rate Derivatives Market In view of the amendment made to sub-rule (4) of rule 8 of Securities Contracts (Regulation) Rules, 1957 vide GSR 696 (E) dated 28th August 2003, permitting banks to participate in interest rate derivatives market, the undersigned has been authorised to direct the stock exchanges to amend their bye-laws, as under: "Any bank, - included in the Second Schedule ....

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....t of dealing of such banks in the exchange." Hence, you are advised to, - Make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately. Bring the provisions of this circular to the notice of members of the Exchange and also disseminate the same on the website, if any. Communicate to SEBI, the status of the implementation of ....