The Reserve Bank of India, vide directive CO.DOS.SED.No.S1917/12.22.212/2023-24 dated June 13, 2023, had placed The Rajapur Sahakari Bank Ltd, Mumbai under Directions for a period of six months from the close of business on June 14, 2023 till close of business on December 14, 2023

The Reserve Bank of India (RBI) has, by an order dated December 12, 2023, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on Janakalyan Sahakari Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC)’. This penalty has been imposed in exercise of powers conferred on RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 22, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Pune Merchants Co-operative Bank Limited, Pune (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts - Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 23, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Pune Municipal Corporation Servant’s Co-operative Urban Bank Limited, Pune (the bank) for non-compliance with RBI directions on ‘Maintenance of Deposit Accounts - Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47 A (1) (c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 17, 2023, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on Indapur Urban Co-operative Bank Bank Ltd., Pune, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Investments by Primary (Urban) Co-operative Banks’, ‘Maintenance of Deposit Accounts - Primary (Urban) Co-operative Banks’, and ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 17, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Patan Urban Co-operative Bank Limited, Satara, Maharashtra (the bank) for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and for non-compliance with the directions issued by RBI on ‘The Depositor Education and Awareness Fund’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India, vide directive CO.DOS.SED.No.S1918/12-22-283/2023-2024 dated June 13, 2023, had placed Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi under Directions for a period of six months from the close of business on June 14, 2023.

The 14-day VRRR auction conducted on December 01, 2023 and subscribed for ₹22,468 crore is maturing and allowed to be reversed on December 15, 2023. Furthermore, in view of likely outflows from the banking system on account of advance tax and GST payments, it has been decided to conduct a 7-day Variable Rate Repo auction on December 15, 2023, Friday, in lieu of the main operation, as under:

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on December 15, 2023.

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS 02-Dec-22 17-NOV-2023 * 01-DEC-2023 * 02-Dec-22 17-NOV-2023 * 01-DEC-2023 * LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from banks 204511.44 241123.11 254742.65 206990.5 244489.69 258583.28 **