The Reserve Bank of India (RBI) has imposed, by an order dated February 03, 2024, a monetary penalty of ₹6.00 lakh (Rupees Six lakh only) on The Nakodar Hindu Urban Cooperative Bank Ltd., Nakodar (the bank) for non-compliance with the directions issued by RBI on Income Recognition, Asset Classification, Provisioning and Other Related Matters (IRAC Norms) and specific directions issued by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on February 09, 2024, Friday, as under

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

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on February 09, 2024. As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

 (Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS  27-Jan-23 12-Jan-2024 * 26-JAN-2024 * 27-Jan-23 12-Jan-2024 * 26-JAN-2024 * I LIABILITIES TO THE BKG.SYSTEM (A)   a) Demand & Time deposits from banks 208480.12 262755.38 265720.09 210725.37 266353.52 269500.31 **  b) Borrowings from banks 62698.3 180980.15 197683.64 63048.66 181010.43 197782.34 

This Statement sets out various developmental and regulatory policy measures relating to (i) Financial Markets; (ii) Regulations; and (iii) Payment Systems and Fintech.  (I) Financial Markets  1. Review of the Regulatory Framework for Electronic Trading Platforms

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (February 8, 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.

This is the first monetary policy statement of 2024, a momentous year for the Reserve Bank of India which enters its 90th year of existence and operations on April 1. Over the years, the Reserve Bank has established itself as a credible institution which stands for stability, trust and economic progress. In recent years, it has become a pioneer in fostering innovation and technology in the financial system. Customer centricity and financial inclusion have always been its priorities. The Reserve Bank’s tireless efforts towards maintaining a fine balance among price stability, financial stability and external sector stability have paid rich dividends as the country embarks on a higher growth trajectory in the years to come. As India gains a pole position in the new global order, the contribution of the Reserve Bank is getting widely recognised in India and abroad.

(Amount in ₹ Crore, Rate in Per cent)  MONEY MARKETS@  Volume (One Leg)  Weighted Average Rate  Range  A.  Overnight Segment (I+II+III+IV)  484,917.64  6.41  5.00-7.65  I. Call Money  12,162.45  6.48  5.00-6.75  II. Triparty Repo  305,689.90  6.39  6.25-6.87  III. Market Repo  166,480.29  6.46  6.20-7.65  IV. Repo in Corporate Bond  585.00  6.74  6.60-7.55  B.  Term Segment I. Notice Money**  269.80  6.66  6.20-6.75  II. Term Money@@  347.00  -  6.80-7.50  III. Triparty Repo  200.00  6.50  6.50-6.50  IV. Market Repo  80.00  6.75  6.75-6.75  V. Repo in Corporate Bond  0.00  -  -

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB) and Rupee Denominated Bonds (RDB) both, through Automatic Route and Approval Route, for the month of December 2023.