MUMBAI, India, June 5 -- Reserve Bank of India issued the following press release: In terms of GOI notification F.No.4(5)-B(W&M)/2021 dated May 12, 2021 (SGB 2021-22 Series-III - Issue date June 08, 2021) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the due date of premature redemption of the above tranche shall be on June 08, 2026. 2. Further, t...
MUMBAI, India, June 5 -- Reserve Bank of India issued the following press release: On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Monday, June 08, 2026, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 75,000 4 9:30 AM to 10:00 AM June 12, 2026 (Friday) 2. The operational guidelines for the auction will be same as given in Reserve Bank's Press Release 2021-2022/157...
MUMBAI, India, June 5 -- Reserve Bank of India issued the following press release: In order to provide greater flexibility to banks for pricing their Rupee bulk deposits, while ensuring uniformity in disclosure of interest rates on deposits, the Reserve Bank of India has today released the following draft Amendment Directions: * Reserve Bank of India (Commercial Banks - Interest Rate on Deposits) Amendment Directions, 2026. * Reserve Bank of India (Small Finance Banks - Interest Rate on D...
MUMBAI, India, June 5 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated June 5, 2026, imposed a monetary penalty of ₹41.80 lakh (Rupees Forty one lakh eighty thousand only) on Canara Bank (the bank) for non-compliance with certain provisions of directions issued by RBI on 'Know Your Customer (KYC)' and 'Unclaimed Deposits / Inoperative Accounts in banks'. This penalty has been imposed in exercise of powers conferred on RBI ...
MUMBAI, India, June 5 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated May 27, 2026, imposed a monetary penalty of ₹3.10 lakh (Rupees Three Lakh Ten Thousand only) on Puran Associates Private Limited (the company) for non-compliance with certain provisions of the RBI directions on 'Asset Classification'. This penalty has been imposed in exercise of powers conferred on RBI under Section 58G(1)(b) read with Section 58B(5)(aa...
MUMBAI, India, June 5 -- Reserve Bank of India issued the following press release: The rate of interest on Government of India Floating Rate Bond 2031 (FRB 2031) applicable for the half year June 07, 2026 to December 06, 2026 shall be 6.64 per cent per annum. It may be recalled that FRB 2031 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield of last three auctions (from the rate fixing day i.e. June 07, 2026) of 182 Day T-Bills, plus a fixed spread ...
MUMBAI, India, June 5 -- Reserve Bank of India issued the following press release: The Reserve Bank of India today released on its website the results of the following Surveys: * Urban Consumer Confidence Survey (UCCS) - May 2026 * Inflation Expectations Survey of Households (IESH) - May 2026 * Rural Consumer Confidence Survey (RCCS) - May 2026 * Survey of Professional Forecasters on Macroeconomic Indicators - Results1 of the 100th Round The Survey results are based on the feedback...
MUMBAI, India, June 5 -- Reserve Bank of India issued the following press release: In the underwriting auction conducted on June 05, 2026, for Additional Competitive Underwriting (ACU) of the undernoted Government security, the Reserve Bank of India has set the cut-off rate for underwriting commission payable to Primary Dealers as given below: Nomenclature of the Security Notified Amount (₹ crore) Minimum Underwriting Commitment (MUC) Amount (₹ crore) Additional Competitive Under...
MUMBAI, India, June 5 -- Reserve Bank of India issued the following notification: RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001 Notification No. FEMA 23(R)/(8)/2026-RB June 05, 2026 Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026 In exercise of the powers conferred by Section 7, Section 8 and sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India m...
JABALPUR, India, June 4 -- Madhya Pradesh High Court issued the following judgment/order on May 4: 1. This Writ Petition under Article 226 of the Constitution of India has been preferred by the petitioner, being aggrieved by the charge sheet dated 25.06.2019 (Annexure P/1) issued by Respondent No. 2. By way of the impugned charge sheet, the petitioner has been subjected to disciplinary proceedings for a cause of action pertaining to the year 2013. 2. The petitioner seeks the indulgence of thi...