Press Releases

Today, the Reserve Bank released the 28th issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the Indian financial system.

The Reserve Bank had issued the framework for dealing with Domestic Systemically Important Banks (D-SIBs) on July 22, 2014. In terms of this framework, the Bank is required to identify and disclose the names of banks designated as D-SIBs annually. Further, in terms of the framework, the assessment methodology, for assessing the systemic importance of banks and identification of the D-SIBs, is required to be reviewed on a periodic basis. 

The Reserve Bank of India, had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Raigad Sahakari Bank Limited, Mumbai vide Directive No.CO.DoS.DSD.No.S2469/12-07-005/2022-23 dated July 15, 2022, for a period of six months. The validity of the Directions was extended from time to time, the last being up to January 18, 2024.

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo auction on December 29, 2023, Friday, in lieu of the main operation, as under:

The Reserve Bank of India (RBI) has, by an order dated November 30, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The United Co-operative Bank Limited, Ahmedabad, 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 November 30, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Sardargunj Mercantile Co-operative Bank Limited, Patan, 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 06, 2023, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Panchsheel Mercantile Co-operative Bank Limited, Surat, 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 November 30, 2023, imposed a monetary penalty of ₹5,000/- Thousand (Rupees Five thousand only) on Sree Chaitanya Co-operative Bank Limited, Nabadwip, West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Membership of Credit Information Companies (CICs)’.This penalty has been imposed in exercise of powers conferred on RBI under Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies  (Regulation) Act, 2005 (CIC Act).

The Reserve Bank of India (RBl) has, by an order dated December 07, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Vidyanand Co-operative Bank Limited, Solapur, Maharashtra (the bank), for non-compliance with the directions issued by RBI on ‘Exposure Norms & Statutory/Other Restrictions - UCBs’ read with RBI directions on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’ and ‘Investments by Primary (Urban) Co-operative Banks’. 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 today released the Draft Reserve Bank of India (Bond Forwards) Directions, 2023. Comments on the draft directions are invited from banks, market participants, investors and other interested parties by January 25, 2024.