Press Releases

The Reserve Bank of India (RBI) has entered into a Currency Swap Agreement with the Maldives Monetary Authority (MMA) under the SAARC Currency Swap Framework 2024-27, on October 07, 2024, in New Delhi. Under the agreement, the MMA is eligible for financing support from the RBI amounting to USD 400 million under the US Dollar/ Euro Swap Window and INR 30 billion under the INR Swap Window. The agreement would be valid till June 18, 2027.

The Central Government has re-appointed Shri M. Rajeshwar Rao as Deputy Governor, Reserve Bank of India for a period of one year with effect from October 09, 2024, or until further orders, whichever is earlier.

The Reserve Bank of India (RBI) has, by an order dated September 26, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Koyana Sahakari Bank Ltd., Karad, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters- UCBs’. This penalty has been imposed in exercise of powers vested in RBI, conferred 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 September 30, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on the Muslim Co-operative Bank Limited, Pune, Maharashtra for non-compliance with certain directions issued by RBI on ‘Maintenance of Deposit Accounts –Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in RBI, conferred 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 September 30, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on The Kolhapur Urban Co-operative Bank Limited, Kolhapur, Maharashtra for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/concerns in which they are interested.’ This penalty has been imposed in exercise of powers vested in RBI, conferred 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 September 25, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Sindhudurg District Central Co-operative Bank Limited, Maharashtra for violation of Section 20 of Banking Regulation Act, 1949 (BR Act) read with Section 56 of the Act. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act

The Reserve Bank of India (RBl) has, by an order dated October 03, 2024, imposed a monetary penalty of ₹1.10 lakh (Rupees One Lakh Ten Thousand only) on Nabapalli Co-operative Bank Limited (the bank), for non-compliance with specific directions issued by RBI on making contribution to Micro and Small Enterprises (MSE) Refinance Fund due to shortfall in achievement of Priority Sector Lending (PSL). 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.

Tenor 4-day Notified Amount (in ₹ crore) 75,000 Total amount of offers received (in ₹ crore) 36,825 Amount accepted (in ₹ crore) 36,825 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

(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 - -

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 19,155.37 6.23 5.01-6.50 I. Call Money 1,358.35 6.09 5.50-6.50 II. Triparty Repo 17,516.10 6.25 5.90-6.40 III. Market Repo 280.92 5.57 5.01-6.00 IV. Repo in Corporate Bond 0.00 - -