In the underwriting auctions conducted on April 26, 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: (₹ crore) Nomenclature of the Security  Notified Amount  Minimum Underwriting Commitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount underwritten  ACU Commission Cut-off rate (paise per ₹100) 7.10% GS 2034 20,000 10,017 9,983 20,000 0.34 7.46% GS 2073 12,000 6,006 5,994 12,000 0.54  Auction for the sale of securities will be held on April 26, 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 542,013.26 6.67 4.01-7.00 I. Call Money 8,968.87 6.70 5.10-6.85 II. Triparty Repo 359,192.40 6.70 6.60-6.83 III. Market Repo 173,050.99 6.59 4.01-6.85 IV. Repo in Corporate Bond 801.00 6.90 6.88-7.00

The Reserve Bank of India issued Directions to The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No.CO.DOS.SED.No.S2698/12-07-005/2022-2023 dated July 27, 2022, for a period of six months up to the close of business on January 28, 2023, as modified from time to time, which were last extended up to the close of business on April 28, 2024 vide Directive DOR.MON.D-119/12.22.603/2023-24 dated January 25, 2024.

It had come to the notice of Reserve Bank of India (RBI) that TalkCharge Technologies Pvt. Ltd. (entity), a company having its registered office at Unit No. 323, JMD Megapolis, 3rd Floor, Sohna Road, Sector 48, Gurgaon, Haryana-122018, is issuing Prepaid Payment Instruments (Wallets) through its website and app (application) ‘TalkCharge’ without obtaining the required authorisation from RBI under the provisions of the Payment and Settlement Systems Act, 2007.

The Reserve Bank of India (RBl) has by an order dated April 03, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Bilaspur Nagrik Sahakari Bank Limited, Bilaspur (the bank) for non-adherence with the directions issued by RBI to Urban Co-operative Banks on ‘Exposure Norms & 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 (RBl) has, by an order dated April 02, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Sadbhav Nagarik Sahakari Bank Maryadit, Chhatarpur (the bank) for non-compliance with operational instructions issued by RBI under ‘Supervisory Action Framework (SAF) for Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI, conferred under provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949. 

The Reserve Bank of India (RBl) has, by an order dated April 04, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Dr. Jaiprakash Mundada Urban Co-operative Bank Limited, Hingoli, Maharashtra (the bank) for non-compliance with the RBI Directions on ‘Management of Advances-UCBs’ and ‘Exposure Norms & Statutory/ Other Restrictions - UCBs. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47 A (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 April 03, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Bishnupur Town Cooperative Bank Ltd., West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC) Directions, 2016’. This penalty has been imposed in exercise of powers vested in RBI, conferred under 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, 2023. 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. After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia, that the charge of not adopting any system of periodic review of risk categorization of its accounts, at least once in six months was sustained, warranting imposition of monetary penalty.

The Reserve Bank of India (RBI) has imposed, by an order dated March 31, 2024, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Nagar Sahakari Bank Ltd. Gorakhpur (the bank) for non-compliance with the direction issued by RBI under ‘Supervisory Action Framework (SAF) for Primary (Urban) Co-operative Banks (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 issued Directions to The Karmala Urban Co-operative Bank Limited, Solapur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.SED.No.S2729/12-07-005/2022-2023 dated July 29, 2022, for a period of six months up to the close of business on January 29, 2023, as modified from time to time which were last extended up to the close of business on April 29, 2024 vide Directive DOR.MON.No.D-120/12.22.130/2023-24 dated January 24, 2024.

The Reserve Bank of India, vide directive DOS.CO.OCCD/185569/12.28.007/2021-2022 dated January 28, 2022 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P) under Directions from the close of business on July 28, 2022. The validity of these Directions was extended time-to-time, last being up to April 27, 2024.

Tenor 4-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 1,42,875 Amount allotted (in ₹ crore) 50,008 Cut off Rate (%) 6.64 Weighted Average Rate (%) 6.65 Partial Allotment Percentage of bids received at cut off rate (%) 51.29

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on April 26, 2024

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on April 25, 2024, Thursday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 4 11:30 AM to 12:00 Noon April 29, 2024 (Monday)

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg)    Weighted Average Rate    Range A.    Overnight Segment (I+II+III+IV) 560,515.73    6.65    3.50-7.75 I. Call Money 11,039.47    6.67    5.10-6.80 II. Triparty Repo 382,681.50    6.70    6.65-6.80 III. Market Repo 165,993.76    6.55    3.50-6.90 

The Central Government has re-appointed Shri T. Rabi Sankar as Deputy Governor, Reserve Bank of India for a period of one year with effect from May 03, 2024, or until further orders, whichever is earlier

The Reserve Bank has today released data on Reserve Money for the week ended April 19, 2024. Ajit Prasad Press Release: 2024-2025/173 Deputy General Manager (Communications)

The Reserve Bank of India has today, in exercise of its powers under Section 35A of the Banking Regulation Act, 1949, directed Kotak Mahindra Bank Limited (hereinafter referred to as ‘the bank’) to cease and desist, with immediate effect, from (i) onboarding of new customers through its online and mobile banking channels and (ii) issuing fresh credit cards.  The bank shall, however, continue to provide services to its existing customers, including its credit card customers

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹12000 Crore ₹7000 Crore ₹8000 Crore II. Competitive Bids Received (i) Number 109 117 138 (ii) Amount ₹ 26921.600 Crore ₹ 24017.100 Crore ₹ 23187.100 Crore III. Cut-off price / Yield 98.3040 96.6110 93.4140 (YTM:6.9200%) (YTM:7.0350%) (YTM:7.0697%) IV. Competitive Bids Accepted

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹12,000 Crore ₹7,000 Crore ₹8,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.3040 (YTM: 6.9200%) 96.6110 (YTM: 7.0350%) 93.4140 (YTM: 7.0697%) IV. Total Face Value Accepted ₹12,000 Crore ₹7,000 Crore ₹8,000 Crore