India, July 1 -- The Government of India has issued a release: The Prime Minister, Shri Narendra Modi, today extended his greetings to the Chartered Accountant fraternity on the occasion of Chartered Accountants' Day. Shri Modi said that Chartered Accountants have long been trusted partners in India's economic journey. He noted that through their commitment to transparency and professional excellence, they have strengthened the country's financial systems, supported businesses, encouraged entre...
India, July 1 -- The Government of India has issued a release: The Vice-President of India, Shri C. P. Radhakrishnan, today said that Chartered Accountants are the "Ambassadors of Trust" and occupy a place of special importance in India's journey towards becoming a developed nation. Addressing the 78th Chartered Accountants Day and Foundation Day celebrations of the Institute of Chartered Accountants of India (ICAI) at Vigyan Bhawan, New Delhi, he said that the profession stands at the centre o...
MUMBAI, India, July 2 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBl) has, by an order dated June 30, 2026, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on Nirmal Urban Co-operative Bank Ltd., Nagpur, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on 'Limits on exposure to single and group borrowers/parties and large exposures and Revision in the target for priority sector lending - UCBs' and ope...
MUMBAI, India, July 2 -- Reserve Bank of India issued the following press release: The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Ramgarhia Co-operative Bank Limited, New Delhi vide Directive No. DEL.DOS.EXG_SSM.No.S515/12-10-013/2022-2023 dated July 07, 2022 for a period of 06 months from close of business on July 08, 2022 up to close of business on January 08, 2023, which was last extended vide Directive No. DOR.MON.D-...
MUMBAI, India, July 2 -- Reserve Bank of India issued the following press release: The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Innovative Co-operative Urban Bank Limited, New Delhi vide Directive No. DEL.DOS.EXG_SSM.No.S143/12-10-005/2025-2026 dated July 03, 2025 for a period of 06 months from close of business on July 04, 2025 up to close of business on January 04, 2026, which was last extended vide Directive No. DOR...
MUMBAI, India, July 2 -- Reserve Bank of India issued the following press release: The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Baghat Urban Co-operative Bank Limited, Solan vide Directive SML.DCBS.CRRB.No.S79/02-31-005/2025-2026 dated October 06, 2025, for a period of 06 months from close of business on October 08, 2025 up to close of business on April 08, 2026, which was last extended vide Directive No. DOR.MON.D...
MUMBAI, India, July 2 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated June 30, 2026, imposed a monetary penalty of ₹1.05 lakh (Rupees One Lakh Five Thousand only) on The N.E. & E.C. Railway Employees' Multi-State Primary Co-operative Bank Ltd, Gorakhpur (the bank) for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions ...
MUMBAI, India, July 2 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated June 29, 2026, imposed a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on Dharmavir Sambhaji Urban Cooperative Bank Ltd., Pune, Maharashtra (the bank) for non-compliance with certain directions issued by RBI on 'Know Your Customer (KYC)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(...
MUMBAI, India, July 2 -- Reserve Bank of India issued the following press release: Government of India has announced the sale (re-issue) of Government Security, as detailed below, through auction to be held on July 03, 2026 (Friday). As per the extant scheme of underwriting commitment notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) auction, applicable to each Primary Dealer (P...
MUMBAI, India, July 2 -- Reserve Bank of India issued the following press release: (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ -- > Money Markets@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 7,02,044.22 5.23 4.00-5.50 I. Call Money 21,115.55 5.28 4.20-5.40 II. Triparty Repo 5,07,156.80 5.22 5.00-5.34 III. Market Repo 1,67,820.87 5.23 4.00-5.45 IV. Repo in Corporate Bond 5,951.00 5.40 5.37-5.50 B. Term Segment I. Notice Money** 71.50 5.09 4...