Press Releases

(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’. 

The Reserve Bank of India (RBI) has, by an order dated March 27, 2024, imposed a monetary penalty of ₹28.30 lakh (Rupees Twenty-Eight Lakh Thirty Thousand only) on Nagpur Nagarik Sahakari Bank Ltd., Nagpur (the bank), for non-compliance with RBI directions on ‘Interest Rate on Deposits’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI conferred under provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2021 and March 31, 2022. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹ 6,500 Crore (Face Value). Sr. No. State Amount to be raised (₹Crore) Additional Borrowing (Greenshoe) Option (₹Crore) Tenure (Year) Type of Auction 1 Assam 1000 - 10 Yield 2 Maharashtra 2000 - 17 Yield 2000 - 18 Yield

The Reserve Bank of India (RBI) has, by an order dated March 27, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five lakh only) on The Himachal Pradesh State Co-operative Bank Limited, Shimla (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 statutory inspection of the bank was conducted by National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2022. Based on supervisory findings of non-compliance with statutory provisions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said provisions of the BR Act.

In the recent period, some concerns have been expressed about participation in the exchange traded currency derivatives (ETCD) market in the light of the Reserve Bank of India’s (RBI) A.P. (DIR Series) Circular No. 13 dated January 05, 2024.

Tenor 1-day Notified Amount (in ₹ crore) 1,00,000 Total amount of offers received (in ₹ crore) 37,855 Amount accepted (in ₹ crore) 37,855 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA