Press Releases

The Reserve Bank of India, vide Directive DOS.CO.OCCD/185569/12.28.007/2021-22 dated January 28, 2022 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P) under Directions from the close of business on January 28, 2022. The validity of these Directions was extended time-to-time, last being up to October 27, 2023.

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹25,400 Crore (Face Value).

Sr. No.State / UTAmount to be raised
(₹ Cr)Additional Borrowing (Greenshoe) Option
(₹ Cr)Tenure (Year)Type of Auction

1Andhra Pradesh500-13Yield

500-14Yield

500-18Yield

500-20Yield

2Bihar2000-8Yield

3Chhattisgarh1000-8Yield

4Goa100-10Yield

5Haryana1000-12Yield

6Jammu and Kashmir600-30Yield

The Reserve Bank of India, vide Directive LKO.DOS.SED.No.S257/10-12-414/2022-23 dated July 27, 2022, had placed the Urban Co-operative Bank Ltd., Sitapur(U.P) under Directions from the close of business on July 28, 2022. The validity of the Directions was extended from time-to-time, the last being up to October 28, 2023.

The Reserve Bank of India has today placed on its website the draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services. Comments / Feedback, if any, may be sent by email with the subject line “Comments on draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services”, by November 28, 2023.

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auctions to be held on October 27, 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)
Security    Notified Amount    Minimum Underwriting Commitment (MUC) amount per PD    Minimum bidding commitment per PD under ACU auction
New GS 2026    8,000    191    191
7.18% GS 2037    10,000    239    239
7.25% GS 2063    12,000    286    286

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average RateRange A. Overnight Segment (I+II+III+IV)517,624.336.765.00-7.85 I. Call Money11,106.286.755.50-6.85 II. Triparty Repo356,928.106.765.00-6.80 III. Market Repo149,449.956.766.25-6.90

     IV. Repo in Corporate Bond140.007.346.90-7.85

B. Term Segment

 

     I. Notice Money**443.756.756.00-6.90

     II. Term Money@@840.00-6.55-7.00

     III. Triparty Repo1,379.606.756.73-6.77

     IV. Market Repo359.817.057.05-7.05

     V. Repo in Corporate Bond0.00--

Today, Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India (RBI), inaugurated the Reserve Bank’s own premises at Dehradun, Uttarakhand.

The Dehradun office is headed by Smt. Latha Vishwanath, Regional Director and Chief General Manager, and will start functioning from the following address with effect from October 25, 2023:

Reserve Bank of India
Plot No. 16-17, IT Park
Sahastradhara Road
Dehradun
Uttarakhand-248013
Telephone No: (0135) 2742455
Please click here to send email.

The Reserve Bank of India’s office at Dehradun was established as a Sub-Office on June 30, 2006 and was upgraded to a full-fledged branch from November 1, 2012.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1175

The Reserve Bank has today released data on Reserve Money for the week ended October 13, 2023. Ajit Prasad            
Director (Communications) Press Release: 2023-2024/1174

The Reserve Bank of India (RBI) has, by an order dated September 21, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh Fifty thousand only) on The Ghatal Peoples Co-operative Bank Limited, West Bengal (the bank) for non-compliance with directions issued by RBI on ‘Membership of Credit Information Companies (CICs)’, ‘Exposure Norms and Statutory/Other Restrictions - UCBs’, ‘Reserve Bank of India – (Know Your Customer (KYC)) Directions, 2016’ and for contravention of the provisions of section 26-A of the Banking Regulation Act, 1949 (BR Act) read with directions issued by RBI on ‘The Depositor Education and Awareness Fund Scheme, 2014 –Section 26A of Banking Regulation Act, 1949 - Operational Guidelines’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the BR Act and Section 25 (1) (iii) read with Section 23 (4) of the Credit Information Companies (Regulation) Act, 2005.

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.

The Reserve Bank of India (RBI) has, by an order dated September 19, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on District Central Co-operative Bank Limited, Supaul (the bank) for non-compliance with RBI directions on ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’. 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.