Press Releases

Tenor14-day Notified Amount (in ₹ crore)50,000 Total amount of offers received (in ₹ crore)5,354 Amount accepted (in ₹ crore)5,354 Cut off Rate (%)6.49 Weighted Average Rate (%)6.49 Partial Acceptance Percentage of offers received at cut off rateNA

In the underwriting auctions conducted on October 20, 2023 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:

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item20222023Variation Oct. 14Oct. 6Oct. 13WeekYear 12345 4 Loans and Advances 4.1 Central Government00000 4.2 State Governments78362430320364-393912528 * Data are provisional.

The Reserve Bank of India (RBI) has, by an order dated September 18, 2023, imposed a monetary penalty of ₹6.00 lakh (Rupees Six lakh only) on Surat National Co-operative Bank Ltd., Surat, Gujarat (the bank) for contravention of directions issued by RBI on ‘Co-operative Banks - Interest Rate on Deposits’ and ‘Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’. 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 imposed, by an order dated September 18, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Vadnagar Nagarik Sahakari Bank Ltd., Vadnagar, Gujarat (the bank) for contravention of directions issued by RBI on ‘Loans and Advances to directors, relatives and firms/concerns in which they are interested’ read with ‘Loans and Advances to Directors etc. - Directors as surety/guarantors – Clarification’, and ‘Co-operative Banks - Interest Rate on Deposits. 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 imposed, by an order dated September 18, 2023, a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on People’s Co-operative Bank Ltd., Dholka, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, relatives and firms/concerns in which they are interested’ and ‘Co-operative Banks - Interest Rate on Deposits’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated September 18, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Chhapi Nagarik Sahakari Bank Ltd., Banaskantha, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’. 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 imposed, by an order dated September 18, 2023, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Mahila Co-operative Nagrik Bank Ltd., Bharuch, 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)’ and ‘Know Your Customer (KYC)’. 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.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auctions to be held on October 20, 2023.

As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

(₹ crore)

SecurityNotified AmountMinimum Underwriting Commitment (MUC) amount per PDMinimum bidding commitment per PD under ACU auction

New GS 20287,000167167

7.18% GS 203313,000310310

7.30% GS 205310,000239239

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume
(One Leg)Weighted
Average RateRange A. Overnight Segment (I+II+III+IV)527,822.036.735.00-7.80 I. Call Money11,005.946.735.00-6.85 II. Triparty Repo366,754.856.746.55-6.80 III. Market Repo149,782.676.725.00-6.86

     IV. Repo in Corporate Bond278.577.216.85-7.80

B. Term Segment

 

     I. Notice Money**418.006.736.35-6.80

     II. Term Money@@60.00-6.65-6.97

     III. Triparty Repo55.006.806.80-6.80

     IV. Market Repo103.886.906.90-6.90

     V. Repo in Corporate Bond0.00--