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The above information can be accessed on Internet at https://wss.rbi.org.in/ The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762). Time series data are available at https://dbie.rbi.org.in Ajit Prasad Press Release: 2021-2022/804 |
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Ajit Prasad Press Release: 2021-2022/803 |
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In the underwriting auctions conducted on September 03, 2021 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:
Ajit Prasad Press Release: 2021-2022/802 |
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The Reserve Bank of India (RBI) has, by an order dated September 02, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kosamba Mercantile Co-operative Bank Ltd., Kosamba, Dist. Surat (Gujarat) (the bank) for non-compliance with directions issued by RBI contained in the Circular on ‘Loans and advances to directors, relatives and firms / concerns in which they are interested’ dated April 29, 2003. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background The statutory inspection of the bank conducted by RBI with reference to the bank’s financial position as on March 31, 2019, the Inspection Report pertaining thereto and examination of all related correspondence revealed, inter alia, that the bank had sanctioned loans to relatives of a director resulting in non-compliance with aforesaid directions issued by RBI. In furtherance to the same, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the aforesaid directions issued by RBI. After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI came to the conclusion that the aforesaid charge of non-compliance with the aforesaid RBI direction was substantiated and warranted imposition of monetary penalty. (Yogesh Dayal) Press Release: 2021-2022/800 |
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Government of India has announced the sale (re-issue) of Government Stock detailed below through auctions to be held on September 03, 2021 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:
The underwriting auction will be conducted through multiple price-based method on September 03, 2021 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E- Kuber) System between 09:00 A.M. and 09:30 A.M. on the date of underwriting auction. The underwriting commission will be credited to the current account of the respective PDs with RBI on the date of issue of securities. Ajit Prasad Press Release: 2021-2022/798 |
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The Reserve Bank of India (RBI) has imposed, by an order dated September 01, 2021, a monetary penalty of ₹25 lakh (Rupees Twenty five lakh only) on Axis Bank Limited (the bank) for contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016. The penalty has been imposed in exercise of powers vested in RBI under provisions of section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949 (the Act). This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background A scrutiny was carried out by RBI during February 2020 and March 2020 in a customer account maintained with the bank and it was observed that the bank had failed to comply with the aforesaid directions issued by RBI, ie., the bank failed to monitor/carry out on-going due diligence in the said account to ensure that the transactions were consistent with its knowledge about the customer, customer’s business and risk profile. In furtherance to the same, a notice was issued to the bank advising it to show cause why penalty should not be imposed on it for contravention of the said directions, as stated therein. After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of contravention of/non-compliance with the aforesaid RBI directions were substantiated and warranted imposition of monetary penalty, to the extent of non-compliance with the aforesaid direction. (Yogesh Dayal) Press Release: 2021-2022/796 |
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The Reserve Bank of India (RBI) has imposed, by an order dated September 1, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Prathamik Shikshak Sahakari Bank Ltd., Satara (the bank) for contravention of/non-compliance with the directions issued by RBI on Exposure Norms and Statutory / Other Restrictions – UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI. The action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background The inspection report of the bank based on its financial position as on March 31, 2019, revealed, inter alia, that the bank had not adhered to prudential inter-bank single counter party limit. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the aforesaid direction. After considering the bank’s reply to the Notice and oral submissions made during the personal hearing, RBI came to the conclusion that the aforesaid charge of non-compliance with the RBI direction was substantiated and warranted imposition of monetary penalty. (Yogesh Dayal) Press Release: 2021-2022/795 |
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