Press Releases

The Reserve Bank of India (RBI) has, by an order dated March 27, 2024, imposed a monetary penalty of ₹49,70,000/- (Rupees Forty-Nine Lakh Seventy Thousand only) on LIC Housing Finance Limited (the company) for non-compliance with certain provisions of the ‘Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021’ issued by RBI. This penalty has been imposed in exercise of powers vested in RBI conferred under section 52A of the National Housing Bank Act, 1987.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

The Reserve Bank of India, vide directive DEL.DOS.EXG_SSM No. S515/12-10- 013/2022-23 dated July 07, 2022, had placed Ramgarhia Co-operative Bank Ltd, New Delhi – under Directions from the close of business on July 08, 2022, for a period of six months up to January 08, 2023, the validity of which was last extended up to close of business on April 08, 2024 vide directive DOR.MON.D-112/12.28.115/2023-24 dated January 05, 2024.

The Reserve Bank of India (RBI) has, by an order dated March 27, 2024 imposed a monetary penalty of ₹1.00 crore (Rupees One crore only) on IDFC First Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’.

The following five Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No. Treasury Bill Notified Amount (in ₹ Crore) Auction Date Settlement Date 1 91 Days 12,000 April 10,2024 (Wednesday)

The Reserve Bank of India today released on its website the results of the following Surveys:

Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract . Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024

Auction Results 7.33% GS 2026 New GS 2034 7.25% GS 2063 I. Notified Amount ₹6,000 crore ₹20,000 crore ₹12,000 crore II. Underwriting Notified Amount ₹6,000 crore ₹20,000 crore ₹12,000 crore III. Competitive Bids Received (i)  Number

7.33% GS 2026 New GS 2034 7.25% GS 2063 I. Notified Amount ₹6,000 crore ₹20,000 crore ₹12,000 crore II. Cut off Price / Implicit Yield at cut-off 100.59/ 7.0711% 7.10% 100.26/ 7.2288% III. Amount accepted in the auction ₹6,000 crore ₹20,000 crore ₹12,000 crore IV. Devolvement on Primary Dealers NIL NIL NIL

Tenor 14-day Notified Amount (in ₹ crore) 1,25,000 Total amount of offers received (in ₹ crore) 5,511 Amount accepted (in ₹ crore) 5,511 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

In the underwriting auctions conducted on April 05, 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:

This Statement sets out various developmental and regulatory policy measures relating to (i) Financial Markets; (ii) Regulations; and (iii) Payment Systems and FinTech.

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (April 5, 2024) decided to: Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.

Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.

Earlier this week on April 1, we commemorated the 90th year of the Reserve Bank of India. The journey of this august institution is closely related to the evolution of the Indian economy. Numerous historic events have occurred during these nine decades: nationalisation of the Reserve Bank (1949), the planning era, bank nationalisation, wars, droughts, the fall of the Bretton Woods system, oil shocks, a precarious balance of payments situation and the subsequent market reforms, the Asian and the Global Financial crises, the taper tantrum and finally the COVID-19 pandemic and the geo-political hostilities of the recent years. During this journey, the Reserve Bank was always at the forefront, combining its developmental and regulatory roles, in steering the Indian financial system and the economy towards stability. While doing so, it has discharged its responsibilities with integrity and professionalism.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@  Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 535,900.83 6.47 5.10-7.55 I. Call Money 10,983.68 6.44 5.10-6.55 II. Triparty Repo 334,596.75 6.45 6.26-6.55 III. Market Repo 189,442.40 6.51 6.00-6.65 IV. Repo in Corporate Bond 878.00 6.72 6.60-7.55 B. Term Segment I. Notice Money** 191.75 6.38 5.90-6.55 II. Term Money@@ 1,144.75 - 6.50-6.90 III. Triparty Repo 2,233.00 6.46 6.41-6.50

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on April 05, 2024, Friday, as under:

The Reserve Bank of India (RBI) has, by an order dated February 28, 2024, imposed a monetary penalty of ₹25,000/- (Rupees Twenty-Five thousand only) on The Tirupattur Urban Co-operative Bank Ltd., Tirupattur, Tamil Nadu (the bank) for non-compliance with certain provisions of RBI directions on ‘Exposure Norms and Statutory/ Other Restrictions – UCBs’. 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.

The Reserve Bank of India (RBI) has, by an order dated February 28, 2024, imposed a monetary penalty of ₹25,000/- (Rupees Twenty-Five thousand only) on Tirumangalam Co-operative Urban Bank Ltd., Tirumangalam, Tamil Nadu (the bank) for non-compliance with RBI directions on ‘Board of Directors - UCBs’ read with ‘Loans and advances to directors, their relatives, and firms/concerns in which they are interested’.

The Reserve Bank of India (RBI) has, by an order dated March 28, 2024, imposed a monetary penalty of ₹61,60,000/- (Rupees Sixty-One Lakh and Sixty Thousand only) on Bassein Catholic Co-operative Bank Ltd. (the bank) for non-compliance with RBI directions on ‘Frauds in UCBs: Changes in Monitoring and Reporting mechanism’, ‘Know Your Customer (KYC)’, ‘Maintenance of Deposit Accounts’ and ‘Management of Advances’.