Press Releases

The Reserve Bank of India (RBI) has imposed, by an order dated March 31, 2024, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Fatehabad Central Cooperative Bank Limited, Fatehabad (the bank) for contravention of the provisions of section 26A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI, conferred 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 March 31, 2024, imposed a monetary penalty of ₹3.50 lakh (Rupees Three Lakh Fifty Thousand only) on Jogindra Central Co-operative Bank Ltd., Solan, Himachal Pradesh (the bank) for non-compliance with directions issued by National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds-Guidelines for Classification, Reporting and Monitoring’.  This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47 A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

Tenor 3-day Notified Amount (in ₹ crore) 25,000 Total amount of bids received (in ₹ crore) 73,100 Amount allotted (in ₹ crore) 25,001 Cut off Rate (%) 6.58 Weighted Average Rate (%) 6.60 Partial Allotment Percentage of bids received at cut off rate (%) 29.7

The Reserve Bank has launched the 41st round of the quarterly Services and Infrastructure Outlook Survey (SIOS) for the reference period April-June 2024. The survey assesses the business situation for the current quarter (Q1:2024-25) from selected companies in the services and infrastructure sectors in India and their expectations for the ensuing quarter (Q2:2024-25) based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment conditions and the price situation. The outlook on key parameters for the two subsequent quarters (Q3:2024-25 and Q4:2024-25) are also covered.

The Reserve Bank has launched the 106th round of the quarterly Industrial Outlook Survey (IOS) of the Indian manufacturing sector for the reference period April-June 2024. The survey assesses business sentiment for the current quarter (Q1:2024-25) and expectations for the ensuing quarter (Q2:2024-25), based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment conditions and the price situation. The outlook on key parameters for the two subsequent quarters (Q3:2024-25 and Q4:2024-25) are also covered.

The Reserve Bank of India (RBI) has, by an order dated March 31, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on The Nakodar Hindu Urban Co-operative Bank Limited, Nakodar (the bank) for non-compliance with the direction issued by RBI on ‘Investments by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

On a review of current and evolving liquidity conditions, it has been decided to conduct a second Variable Rate Repo (VRR) auction on April 22, 2024, Monday, as under:

Result of the 7-day Variable Rate Repo (VRR) auction held on April 22, 2024

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on April 22, 2024, Monday, as under:

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A.Overnight Segment (I+II+III+IV) 0.00 - -I. Call Money 0.00 - - II. Triparty Repo 0.00 -- III. Market Repo 0.00 - -IV. Repo in Corporate Bond 0.00