Press Releases

In terms of GOI Notification F. No. 4(16) – (W&M) /2016 dated February 23, 2017 (SGB 2016-17 Series IV - Issue date March 17, 2017) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the next due date of premature redemption of the above tranche shall be September 17, 2024. 

Government of India (GOI) has announced the sale (re-issue) of two dated securities for a notified amount of ₹31,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 7.10% GS 2034 Apr 08, 2034 20,000 F.No.4(3)-B(W&M)/2024 dated September 13, 2024 September 20, 2024 (Friday) September 23, 2024 (Monday) 2 7.34% GS 2064 Apr 22, 2064 11,000 Total 31,000

The Reserve Bank of India, vide directive CO.DOS.SED. No. S1918/12-22-283/2023-2024 dated June 13, 2023, had placed Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi under Directions for a period of six months from the close of business on June 14, 2023. The validity of the directions was extended from time-to-time, the last being up to September 14, 2024.

The Reserve Bank of India (RBI) has, by an order dated September 4, 2024, imposed a monetary penalty of ₹23,10,000/- (Rupees Twenty three lakh ten thousand only) on SMFG India Credit Company Limited (formerly known as Fullerton lndia Credit Company Limited) (the company) for non-compliance with certain provisions of the ‘Master Direction - Information Technology Framework for the NBFC Sector’ and certain directions relating to cyber security measures issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of clause (b) of sub-section (1) of Section 58 G read with clause (aa) of sub-section (5) of Section 58 B of the Reserve Bank of India Act, 1934

The Reserve Bank of India (RBI) has, by an order dated September 11, 2024, imposed a monetary penalty of ₹7,90,000/- (Rupees Seven lakh ninety thousand only) on Muthoot Vehicle & Asset Finance Limited (the company) for non-compliance with certain provisions of RBI directions on ‘Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies’ and ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934 and clause (iii) of sub-section (1) of Section 25 read with sub-section (4) of Section 23 of the Credit Information Companies (Regulation) Act, 2005

The Reserve Bank of India (RBI) has, by an order dated September 3, 2024, imposed a monetary penalty of ₹10,40,000/- (Rupees Ten lakh forty thousand only) on Hewlett Packard Financial Services (India) Private Limited (the company) for non-compliance with certain provisions of the ‘Reserve Bank of India [Know Your Customer (KYC)] Directions, 2016’, ‘Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ and ‘Master Direction - Information Technology Framework for the NBFC Sector’ issued by RBI. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58 B of the Reserve Bank of India Act, 1934.

The Reserve Bank of India, vide directive CO.DOS.SED.No.S1917/12.22.212/2023-24 dated June 13, 2023, had placed The Rajapur Sahakari Bank Ltd, Mumbai under Directions for a period of six months from the close of business on June 14, 2023 till close of business on December 14, 2023. The validity of the directions was extended from time-to-time, the last being up to September 14, 2024.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Vaishali Shahari Vikas Co-operative Bank Ltd., Hajipur, Dist. Vaishali vide Directive No. DoS(Patna).Co-op.Bk./No.S50/04.01.009/2023-24 dated June 13, 2023, for a period of six months up to close of business on December 14, 2023, as modified from time to time, which were last extended up to close of business on September 14, 2024 vide Directive DOR.MON/D-25/12.28.207/2024-25 dated June 06, 2024.

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on September 17, 2024, Tuesday, as under:

The Reserve Bank of India (RBI) has, by an order dated September 2, 2024, imposed a monetary penalty of ₹31,80,000 (Rupees Thirty one lakh eighty thousand only) on BNP Paribas (the bank) for non-compliance with certain directions issued by RBI on ‘Interest Rate on Advances’. 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) of the Banking Regulation Act, 1949