•  The Committee had commended the Clean Note Policy of the RBI and RBI is striving to vigorously pursue a largely successful Clean Note Policy;  •  The RBI Note Refund Rules are now in the public domain. •  Banks are now required to have a Customer Service Committee of the Board so that the subject gets special focussed attention.
The strong external position has allowed both the public and private sectors to prepay some of their FX obligations, resulting in further improvements in the country’s external debt ratio. As of end March 2008, the external debt ratio stood at 35.6 percent, less than half its level in 2001 of 72.9 percent. The peso has weakened in recent months.