This Statement sets out various developmental and regulatory policy measures relating to (i) Financial Markets; (ii) Regulation and Supervision; (iii) Payment Systems; and (iv) FinTech. I. Financial Markets 1. Review of Regulatory framework for Financial Benchmark Administrators In June 2019, the Reserve Bank issued a regulatory framework on administration of ‘significant benchmarks’ by benchmark administrators in the financial markets regulated by the Reserve Bank su

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (August 10, 2023) decided to: Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent. 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. The MPC also decided to remain focused on wi

The Reserve Bank of India (RBI) has, by an order dated August 03, 2023 imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Mangal Co-operative Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1

The following 10 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. i) Due to exit from Non-Banking Financial Institution (NBFI) business: Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of Cancella

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, Karnataka 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. 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 August 24, 2023. 2.

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 441,270.67 6.31 5.00-7.35 I. Call Money 8,883.79 6.39 5.00-6.45 II. Triparty Repo 286,307.10 6.30 6.15-6.35 III. Market Repo 145,969.78 6.33 6.00-6.45 IV. Repo in Corporate Bond 110.00 7.35 7.35-7.35 B. Term Segment I. Notice Money** 135.00 6.37 6.20-6.45 II. Term Money@@ 112.50 - 6.35-6.80 III. Triparty Repo 0.00 - - IV. Market Repo 46.

The Reserve Bank of India (RBI) has, by an order dated August 03, 2023 imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Islampur Urban Co-operative Bank Limited, Islampur, (Maharashtra) (the bank) for non-compliance with provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and certain provisions of the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ and ‘Maintenance of Deposit Accounts-UC

The Reserve Bank of India today released on its website the results of the following Surveys: Consumer Confidence Survey (CCS) – July 2023 Inflation Expectations Survey of Households (IESH) – July 2023 OBICUS Survey on manufacturing sector – Q4:2022-23 Industrial Outlook Survey of the Manufacturing Sector for Q1:2023-24 Survey of Professional Forecasters on Macroeconomic Indicators– Round1 83rd Bank Lending Survey for Q1:2023-24 Services and Infrastructure Outlook Sur

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo auction on August 11, 2023, Friday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,00,000 14 10:30 AM to 11:00 AM August 25, 2023 (Friday) 2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same. Ajit Prasad Dir

The Reserve Bank has today released data on Money Supply for the fortnight ended July 28, 2023. Ajit Prasad Director (Communications) Press Release: 2023-2024/728