Press Releases

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Feb. 24 Feb. 16 Feb. 23 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 9515 13292 14809 1517 5294 * Data are provisional; difference, if any, is due to rounding off.

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 February 01, 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 501,129.66 6.68 5.00-6.95 I. Call Money 11,917.02 6.67 5.00-6.81 II. Triparty Repo 337,829.10 6.68 6.50-6.80 III. Market Repo 150,758.54 6.67 6.00-6.90 IV. Repo in Corporate Bond 625.00 6.87 6.85-6.95

The Financial Action Task Force (FATF) vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ – February 2024, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar was added to the list of High-Risk Jurisdictions subject to a Call for Action in the October 2022 FATF plenary and FATF has called on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from Myanmar. When applying enhanced due diligence measures, countries have been advised to ensure that flows of funds for humanitarian assistance, legitimate NPO activity and remittances are not disrupted. The status of Myanmar in the list of countries subject to a call for action, remains unchanged.

The Reserve Bank of India (RBI) has, by an order dated February 22, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on Solapur District Central Co-operative Bank Limited, Solapur, Maharashtra (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) and 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 BR Act.

The Reserve Bank of India (RBI) has, by an order dated February 21, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Progressive Co-operative Bank Limited, Mumbai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’ and ‘Investments by Primary (Urban) Co-operative Banks’. 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 February 22, 2024, imposed a monetary penalty of ₹23.30 lakh (Rupees Twenty-three lakh and Thirty thousand only) on Shikshak Sahakari Bank Limited, Nagpur (the bank) for non-compliance with operational instructions issued by RBI, vide letter dated January 24, 2020, under ‘Supervisory Action Framework for Primary (Urban) Co-operative Banks (UCBs)’. 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.

Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of February 2024 are set out in Tables 1 to 7.

Today, the Reserve Bank released the web publication ‘Deposits with Scheduled Commercial Banks – December 2023’ on its ‘Database on Indian Economy’ portal[1] (https://dbie.rbi.org.in Homepage > Publications).

Today, the Reserve Bank released its web publication entitled ‘Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs) - December 2023’ on its ‘Database on Indian Economy’ portal[1] (https://dbie.rbi.org.in Homepage > Publications). It captures various characteristics of bank credit such as occupation/activity and organisational sector of the borrower, type of account and interest rates based on account-level reporting[2]. Data reported by 90 SCBs (excluding Regional Rural Banks) are presented for bank groups, population groups[3] and states[4].