Press Releases

The Reserve Bank of India (RBI), vide order dated December 27, 2024, has cancelled the licence of “The Vaishali Shahari Vikas Co-operative Bank Ltd., Hajipur, Dist. Vaishali”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on December 30, 2024. The Registrar of Cooperative Societies, Bihar has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

Government of India (GOI) has announced the sale (re-issue) of two dated securities for a notified amount of ₹32,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 6.79% GS 2034 Oct 07, 2034 22,000 F.No.4(3)-B(W&M)/2024 dated December 30, 2024 January 03, 2025 (Friday) January 06, 2025 (Monday) 2 7.09% GS 2074 Nov 25, 2074 10,000 Total 32,000

The Reserve Bank of India (RBI) has, by an order dated December 26, 2024, imposed a monetary penalty of ₹4.00 lakh (Rupees Four Lakh only) on The Prime Co-operative Bank Ltd., Surat, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’ and ‘Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)’ read with ‘Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) - A Graded Approach’. 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 (RBI) has, by an order dated December 26, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Yavatmal Urban Co-operative Bank Limited, Yavatmal, Maharashtra (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’, and certain directions issued by RBI on ‘Exposure Norms & Statutory / Other Restrictions – UCBs’. 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 (RBI) has, by an order dated December 27, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on the Kolikata Mahila Co-operative Bank Limited (the bank) for contravention of provisions of Section 31 of the Banking Regulation Act, 1949 (BR Act). 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 BR Act.

Today, the Reserve Bank released the December 2024 issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on the resilience of the Indian financial system and risks to financial stability.

Today, the Reserve Bank released data relating to India’s International Investment Position for end-September 2024[1].

The Reserve Bank of India (RBI) has, by an order dated December 26, 2024, imposed a monetary penalty of ₹36.40 lakh (Rupees Thirty Six Lakh Forty Thousand only) on Punjab Gramin Bank, Kapurthala, Punjab (the bank) for contravention of provisions of Section 26A read with Section 51(1) of the Banking Regulation Act, 1949 (BR Act). 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 51(1) of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated December 26, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the Kaithal Central Co-operative Bank Ltd., Haryana (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). 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 BR Act.

Tenor 4-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 83,238 Amount allotted (in ₹ crore) 83,238 Cut off Rate (%) 6.51 Weighted Average Rate (%) 6.52 Partial Allotment Percentage of bids received at cut off rate (%) NA