MUMBAI, India, Aug. 14 -- Reserve Bank of India issued the following press release: In the Fifth Cohort of the Regulatory Sandbox (RS) which was 'Theme Neutral', five entities were shortlisted to commence testing of their products, which was communicated vide Press Release dated July 26, 2024. 2. Products of the entities which completed the 'Test Phase' were evaluated based on mutually agreed test scenarios and expected outcomes. Accordingly, one product outlined below has been found viable wi...
MUMBAI, India, Aug. 14 -- Reserve Bank of India issued the following press release: Reserve Bank of India has been reviewing and rationalising the regulations issued under FEMA, 1999 with an intent to promote ease of doing business. On a review, it has been decided to rationalise regulations pertaining to guarantees issued under FEMA, 1999. Salient features of proposed regulations are as under: * The regulations are principle based and in general guarantees involving cross border transaction...
MUMBAI, India, Aug. 14 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBl) has, by an order dated August 08, 2025, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Shree Bharat Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on 'Inspection & Audit Systems in Primary (Urban) Co- operative Banks', 'Income Recognition, Asset Classification, Provisioning and ...
MUMBAI, India, Aug. 14 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBl) has, by an order dated August 08, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on Sardargunj Mercantile Co-operative Bank Limited, Patan, Gujarat (the bank) for non-compliance with certain directions issued by RBI on 'Co-operative Banks - Interest Rate on Deposits'. This penalty has been imposed in exercise of powers conferred on RBI under the provision...
MUMBAI, India, Aug. 14 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBl) has, by an order dated August 08, 2025, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Sarvodaya Commercial Cooperative Bank Ltd., Dist. Mehsana, Gujarat (the bank) for non-compliance with certain directions issued by RBI on 'Donations / Contributions for public / charitable purposes out of profits of UCBs', 'Financial Statements - Presentation and Disclosu...
MUMBAI, India, Aug. 14 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBl) has, by an order dated August 08, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Uma Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on 'Inspection & Audit Systems in Primary (Urban) Co-operative Banks'. This penalty has been imposed in exercise of powers conferred on RBI under the provi...
MUMBAI, India, Aug. 14 -- Reserve Bank of India issued the following press release: The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹17,600 Crore (Face Value). Sr. No. State Amount to be raised (₹ Crore) Tenor (Year) Type of Auction 1. Bihar 2000 14 Yield 2. Goa 100 10 Yield 3. Gujarat 1500 08 Yield 4. Kerala 2000 31 Yield 5. Maharashtra 1000 Re-issue of 6.98% Maharashtra SGS 2037, issued on June 25, 2025 Price 1000 Re-issue...
MUMBAI, India, Aug. 14 -- Reserve Bank of India issued the following press release: 6.01% GS 2030 New GS 2055 I. Notified Amount ₹15,000 crore ₹13,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 98.96/6.2572% 7.24% III. Amount accepted in the auction ₹15,000 crore ₹13,000 crore IV. Devolvement on Primary Dealers NIL NIL Ajit Prasad Deputy General Manager (Communications) Press Release: 2025-2026/907 Disclaimer: Curated by HT Syndication....
MUMBAI, India, Aug. 14 -- Reserve Bank of India issued the following press release: Tenor 8-day Notified Amount (in ₹ crore) 2,00,000 Total amount of offers received (in ₹ crore) 1,82,790 Amount accepted (in ₹ crore) 1,82,790 Cut off Rate (%) 5.49 Weighted Average Rate (%) 5.49 Partial Acceptance Percentage of offers received at cut off rate NA Ajit Prasad Deputy General Manager (Communications) Press Release: 2025-2026/906 Disclaimer: Curated by HT Syndication....
GUWAHATI, India, Aug. 13 -- Gauhati High Court issued the following order on July 14: 1. Heard Mr. M. Goswami, learned Senior counsel assisted by Mr. R. Sinha, learned counsel for the petitioners in WP(C) No. 5741/2017; Ms. R. Devi, learned counsel for the petitioners in WP(C) Nos. 6020/2017, 5861/2017, 5933/2017; Mr. A. Nath, learned counsel for the petitioners in WP(C) No. 4126/2016 with I.A.(C) No. 1222/2023, WP(C) No. 4181/2016 with I.A.(C) No. 1085/2023, WP(C) No. 4358/2016 with I.A.(C) No...