Press Releases

The Reserve Bank of India (RBI) has, by an order dated December 06, 2023, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Panchsheel Mercantile Co-operative Bank Limited, Surat, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Placement of Deposits with Other Banks by 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.

The Reserve Bank of India (RBI) has, by an order dated November 30, 2023, imposed a monetary penalty of ₹5,000/- Thousand (Rupees Five thousand only) on Sree Chaitanya Co-operative Bank Limited, Nabadwip, West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Membership of Credit Information Companies (CICs)’.This penalty has been imposed in exercise of powers conferred on RBI under Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies  (Regulation) Act, 2005 (CIC Act).

The Reserve Bank of India (RBl) has, by an order dated December 07, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Vidyanand Co-operative Bank Limited, Solapur, Maharashtra (the bank), for non-compliance with the directions issued by RBI on ‘Exposure Norms & Statutory/Other Restrictions - UCBs’ read with RBI directions on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (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 today released the Draft Reserve Bank of India (Bond Forwards) Directions, 2023. Comments on the draft directions are invited from banks, market participants, investors and other interested parties by January 25, 2024.

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on December 29, 2023.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@     Volume  (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 5,12,196.73 6.79    0.01-7.95 I.  Call Money 10,459.50    6.81    5.00-6.90 II. Triparty Repo 3,70,600.60 6.78 6.75-6.81 III. Market Repo 1,30,778.92 6.81    0.01-6.95 IV. Repo in Corporate Bond 

Tenor 2-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 1,58,399 Amount allotted (in ₹ crore) 50,007 Cut off Rate (%) 6.71 Weighted Average Rate (%) 6.73

The Reserve Bank has today released data on Reserve Money for the week ended December 22, 2023. Ajit Prasad Director (Communications) Press Release: 2023-2024/1552

Today, the Reserve Bank released its web publication entitled ‘Statistical Tables relating to Banks in India: 2022-23’ covering the activities of the Indian banking sector.

Today, the Reserve Bank of India released the Report on Trend and Progress of Banking in India 2022-23, a statutory publication in compliance with Section 36 (2) of the Banking Regulation Act, 1949. This Report presents the performance of the banking sector, including co-operative banks and non-banking financial institutions, during 2022-23 and 2023-24 so far.