In the underwriting auctions conducted on May 03, 2024 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 4,81,071.42    6.44    1.00-6.90 I. Call Money 10,206.74    6.53    5.10-6.65 II. Triparty Repo 3,05,939.15    6.41    6.00-6.58 III. Market Repo 1,63,894.53    6.50    1.00-6.65 IV. Repo in Corporate Bond 1,031.00    6.69    6.60-6.90 

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS 21-Apr-23    05-APR-2024 *    19-APR-2024 *    21-Apr-23    05-APR-2024 *    19-APR-2024 * I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from banks 241922.43    311538.6    293086.88    244380.07    315742.8    297489.65 ** b) Borrowings from banks 37729.21    176273.74    173959.07    38061.24    176613.81    173959.07 c) Other demand & time liabilities 58481.58    73116.45    74785.14    59135.51    73356.22    75023.68 

The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. The status of withdrawal of ₹2000 banknotes is periodically published by the RBI. The last press release in this regard was published on April 01, 2024.

The Reserve Bank of India (RBl) has, by an order dated April 26, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Udgir Urban Co-operative Bank Limited, Udgir (Maharashtra) (the bank) for non-compliance with the directions issued by RBI on ‘Exposure Norms & Statutory/Other Restrictions – UCBs and ‘Board of Directors – UCBs’. This penalty has been imposed in exercise of powers vested in RBI, conferred 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 (RBl) has, by an order dated April 23, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on Lokmangal Co-operative Bank Limited, Solapur (the bank) for non-compliance with the directions issued by RBI on Know Your Customers (KYC). This penalty has been imposed in exercise of powers vested in RBI, conferred 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 (RBI) has, by an order dated April 29, 2024, imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two lakh only) on The Satara Sahakari Bank Limited, Mumbai, Maharashtra (the bank) for non-compliance with certain provisions of section 12(2) read with section 56 of the Banking Regulation Act, 1949 (BR Act) and directions issued by RBI on ‘Prudential Norms on Capital Adequacy - Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act.

The value of exports and imports of services during March 2024 is given in the following table. International Trade in Services (US$ million) Month Receipts (Exports) Payments (Imports) January – 2024 31,023 (10.8) 14,850 (0.2) February – 2024 28,348 (3.5) 15,240 (1.8) March – 2024 30,028 (-1.3) 16,608 (-2.1) Notes: (i) Data are provisional; and (ii) Figures in parentheses are growth rates over the corresponding month of the previous year which have been revised on the basis of balance of payments statistics.

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on May 03, 2024, Friday, as under:

The Reserve Bank has today released data on Reserve Money for the week ended April 26, 2024 and Money Supply for the fortnight ended April 19, 2024.