Press Releases

The Reserve Bank of India issued Directions to Saibaba Janata Sahakari Bank Limited, Latur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.SED.No.S2598/12-07-005/2022-2023 dated July 21, 2022, for a period of six months up to the close of business on January 22, 2023, as modified from time to time, which was last extended up to the close of business on January 22, 2024 vide Directive DOR.MON.D-79/12.22.705/2023-24 dated October 18, 2023.

Auction Results 7.33% GS 2026 7.18% GS 2037 7.25% GS 2063 New GOI SGrB 2054 I. Notified Amount ₹8000 Crore ₹10000 Crore ₹12000 Crore ₹5000 Crore II. Underwriting Notified Amount ₹8000 Crore ₹10000 Crore ₹12000 Crore ₹5000 Crore III. Competitive Bids Received

7.33% GS 2026 7.18% GS 2037 7.25% GS 2063 New GOI SGrB 2054 I. Notified Amount ₹8,000 crore ₹10,000 crore ₹12,000 crore ₹5,000 crore II. Cut off Price / Implicit Yield at cut-off 100.67/ 7.0533% 99.01/ 7.2964% 97.83/ 7.4198% 7.37%

Tenor 3-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 1,35,211 Amount allotted (in ₹ crore) 50,007 Cut off Rate (%) 6.73 Weighted Average Rate (%) 6.74 Partial Allotment Percentage of bids received at cut off rate (%) 49.64 Ajit Prasad Director (Communications) Press Release: 2023-2024/1705
 

In the underwriting auctions conducted on January 19, 2024 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:

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A.  Overnight Segment (I+II+III+IV) 536,853.38 6.77 5.00-7.90 I. Call Money 13,269.39 6.76 5.00-6.88 II. Triparty Repo 374,788.00 6.76 6.45-6.85 III. Market Repo 148,740.99 6.79 6.25-6.90 IV. Repo in Corporate Bond 55.00 7.55 7.25-7.90

The Reserve Bank of India (RBI) has, by an order dated December 22, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Idar Nagarik Sahakari Bank Limited, Idar, Dist. Sabarkantha, 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)’. This penalty has been imposed in exercise of powers conferred on RBI 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 December 26, 2023, imposed, a monetary penalty of ₹10.00 lakh (Rupees Ten lakh only) on The Patdi Nagarik Sahakari Bank Limited, Patdi, Dist. Surendranagar, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Donations to Trusts and Institutions where Directors, their relatives hold position or are interested’, ‘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’, ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI 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 December 29, 2023, imposed a monetary penalty of ₹7.00 lakh (Rupees Seven lakh only) on Mehsana Nagrik Sahakari Bank Limited, Mehsana, 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’ read with ‘Loans and Advances to directors etc. - directors as surety/guarantors – Clarification’, ‘Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016’ and contravention of the provisions of section 26A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act).

As part of the Reserve Bank’s continuing engagement with regulated entities, the second Conference of Internal Ombudsmen on the theme “Orchestrating Customer Delight through an Empowered Internal Ombudsman”, was held in Mumbai on January 16, 2024. This Conference was attended by Managing Director & CEOs, Executive Director in-charges of customer service verticals, Internal Ombudsmen, Principal Nodal Officers of select regulated entities from among Banks, NBFCs and CICs and senior officials from the Reserve Bank of India.