The results of the RBI Repo/Reverse Repo auctions held on March 8, 2011 are:
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Muslim Co-operative Bank Ltd., Pune, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India.
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.03 and the Reference Rate for Euro is ` 62.94 on March 8, 2011. The corresponding rates for the previous day (March 7, 2011) were ` 45.13 and ` 63.06 respectively. Based on the Reference Rate for US dollar and middle rates of the cross currency quotes at 12 noon, the exchange rates of GBP and Japanese Yen against the Rupee are: