Please
refer to F.E Circular No 16 dated November 1, 2004 and
F.E Circular No. 18 dated December 29, 2005 on the captioned
subject.
In
order to facilitate the Bank’s treasuries to accommodate
their customers and manage their cash flows efficiently,
it has been decided to extend their cut-off timings for
dealing in Inter-bank market as well as with their customers.
Henceforth, the cut-off timings will be up to 4:30 pm
Monday through Friday and up to 1:00 pm on Saturday.
.
The extended timings will be applicable for all kind of
Foreign Exchange, Derivative and Money Market transactions,
however the cut-off time for settlement of Inter-bank
deals as circulated earlier vide EDMD Circular No. 2 dated
February 14, 2006 will remain unchanged.
It
is further emphasized that the timings intimated earlier
vide DMMD circular No. 01 dated November 14, 2006 for
reporting of transactions through MMCRS and FXCRS to Domestic
Markets & Monetary Management Department (DMMD), should
be meticulously observed by all concerned.
The
above instructions would come into effect from the date
of issue of this circular.