Press Releases

The Reserve Bank of India (RBI) has, by an order dated May 14, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh Only) on The Bhadohi Urban Co-operative Bank Ltd., Bhadohi, Uttar Pradesh (the bank) for contravention of the provisions of section 26 A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act). 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 BR Act.

The Reserve Bank of India (RBI) has, by an order dated May 14, 2024, imposed a monetary penalty of ₹7.00 lakh (Rupees Seven lakh only) on The Urban Co-operative Bank Ltd., Budaun (the bank) for contravention of the provisions of section 26 A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act), for non-compliance with the specific directions issued by RBI under Supervisory Action Framework (SAF) and with the direction issued by RBI on ‘Investments by Primary (Urban) Co-operative Banks’. 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 BR Act.

Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹22,000 crore (face value). The security-wise details of the conversion/switch are given as under: Date of Auction Source Securities Amount (FV) of Source Securities (In ₹ crore) Destination Securities May 27, 2024 (Monday) 8.20% GS 2025 (Maturing on Sep 24, 2025) 1,000 8.17% GS 2044 (Maturing on Dec 01, 2044) 8.20% GS 2025 (Maturing on Sep 24, 2025) 5,000 7.50% GS 2034 (Maturing on Aug 10, 2034) 7.59% GS 2026 (Maturing on Jan 11, 2026) 2,500 6.68% GS 2031 (Maturing on Sep 17, 2031) 7.27% GS 2026 (Maturing on Apr 08, 2026) 2,000 8.24% GS 2033 (Maturing on Nov 10, 2033) 6.99% GS 2026 (Maturing on Apr 17, 2026) 1,000 6.95% GS 2061 (Maturing on Dec 16, 2061) 8.24% GS 2027 (Maturing on Feb 15, 2027) 1,000 6.95% GS 2061 (Maturing on Dec 16, 2061) 7.38% GS 2027 (Maturing on Jun 20, 2027) 2,000 7.40% GS 2035 (Maturing on Sep 09, 2035) 7.38% GS 2027 (Maturing on Jun 20, 2027) 3,000 6.83% GS 2039 (Maturing on Jan 19, 2039) 7.38% GS 2027 (Maturing on Jun 20, 2027) 2,000 6.95% GS 2061 (Maturing on Dec 16, 2061) 8.26% GS 2027 (Maturing on Aug 02, 2027) 1,500 6.67% GS 2035 (Maturing on Dec 15, 2035) 8.26% GS 2027 (Maturing on Aug 02, 2027) 1,000 7.69% GS 2043 (Maturing on Jun 17, 2043) Total 22,000

The Reserve Bank of India, vide Directive: LKO.DOS.SED.No.S842/10-12-133/2022-23 dated February 23, 2023 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the HCBL Co-operative Bank Ltd., Lucknow (U.P) under Directions from the close of business on February 24, 2023. The validity of these Directions was extended time-to-time, last being up to May 24, 2024.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District vide Directive BLR.DOS.SSMS.No.S2174/12-08-295/2022-23 dated February 23, 2023 for a period of six months up to August 24, 2023, as modified from time to time, which were last extended up to close of business on May 24, 2024 vide Directive DOR.MON/D-127/12.23.292/2023-24 dated February 15, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond May 24, 2024.

The result of the auction of State Government Securities held on May 21, 2024 is as under: (Amount in ₹ Crore) ANDHRA PRADESH 2041 ANDHRA PRADESH 2044 HARYANA 2034 JAMMU AND KASHMIR UT 2051 Notified Amount 1000 1000 1000 500 Tenure 17 20 10 27 Competitive Bids Received (i) No. 51 27 119 15 (ii) Amount 4335 4085 4342 2175 Cut off Yield (%) 7.40 7.38 7.42 7.38

I. SUMMARY RESULTS Aggregate amount (Face Value) notified by RBI ₹ 60,000.000 crore Total amount offered (Face Value) by participants ₹ 19,279.445 crore Total amount accepted (Face Value) by RBI ₹ 5,266.041 crore II. DETAILS OF EACH SECURITY

Tenor 3-day Notified Amount (in ₹ crore) 1,25,000 Total amount of bids received (in ₹ crore) 1,97,142 Amount allotted (in ₹ crore) 1,25,002 Cut off Rate (%) 6.70 Weighted Average Rate (%) 6.72 Partial Allotment Percentage of bids received at cut off rate (%) 75.63

Sr. No. State / UT Amount to be raised (₹Crore) Amount Accepted (₹ Crore) Cut off Yield (%) Tenure (Year) 1 Andhra Pradesh 1000 1000 7.40 17 1000 1000 7.38 20 2 Haryana 1000 1000 7.42 10 3 Jammu & Kashmir 500 500 7.38 27 4 Manipur 200 200 7.43 12 5 Rajasthan 750 750 7.42 08 750 750 7.41 10 Total 5200 5200 

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on May 21, 2024, Tuesday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,25,000 3 01:15 PM to 01:45 PM May 24, 2024 (Friday) 2. The operational guidelines for the auction will be same as given in Reserve Bank’s Press Release 2021-2022/1572 dated January 20, 2022.