The Reserve Bank of India (RBI) has, by an order dated March 13, 2024 imposed a monetary penalty of ₹63,60,000 (Rupees Sixty three lakh sixty thousand only) on DCB Bank Ltd. (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 vested in RBI conferred under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) of the Banking Regulation Act, 1949.

The Reserve Bank of India organised the Annual Conference of RBI Ombudsmen, on March 15, 2024 in Mumbai. The theme of the conference was “Protecting the Consumers – Building Robust Systems and Procedures”. The Conference was attended by Chairman/ Managing Director & CEOs of regulated entities from major banks, NBFCs, Non-bank Payment System Participants, NPCI, senior officials of RBI along with the RBI Ombudsmen and Deputy RBI Ombudsmen. Shri Shaktikanta Das, Governor, inaugurated the conference.

Today, the Reserve Bank released the March 2024 issue of its monthly Bulletin. The Bulletin includes four speeches, three articles, and current statistics. The three articles are: I. State of the Economy; II. Pandemic-induced Policy Stimulus and Inflation: A Cross-Country Perspective; and III. Seasonality in India’s Key Economic Indicators.

Sr. No. State/UT Amount to be raised (₹Crore) Amount Accepted (₹ Crore) Cut off Price (₹) / Yield (%) Tenure (Year) 1 Assam 1000 1000 7.47 10 2 Chhattisgarh 1000 1000 7.46 8 1000 1000 7.47 9 1000 1000 7.47 10

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume  (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 5,35,523.53 6.56 4.00-6.90 I. Call Money 11,528.74 6.55 5.00-6.75 II. Triparty Repo 3,54,216.05 6.53 6.00-6.68 III. Market Repo  1,69,040.74 6.64 4.00-6.81 IV. Repo in Corporate Bond 738.00 6.75 6.70-6.90 B. Term Segment I. Notice Money** 811.00 6.91 6.15-7.15

The Reserve Bank of India has today released the data on Overseas Direct Investment, both under Automatic Route and the Approval Route, for the month of February 2024. Ajit Prasad Director (Communications) Press Release: 2023-2024/2065

(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
 

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 27,626.68 6.50 5.50-6.70 I. Call Money 904.60 6.12 II. Triparty Repo  25,827.90 6.53 6.20-6.65 III. Market Repo      894.18 5.96

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate
Range A. Overnight Segment (I+II+III+IV) 12,586.40    6.46    5.50-6.95 I. Call Money 828.15    6.11    5.50-6.24 II. Triparty Repo 11,070.25    6.46

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹50,206 Crore (Face Value).