The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Pragati Sahakari Bank Limited, Vadodara, 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 violations of Reserve Bank of India directives/instructions/guidelines relating to share linking norms, single borrower exposure ceiling and Anti Money Laundering (AML) guidelines for reporting the cash transactions above ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), New Delhi.

The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Dahod Urban Co-operative Bank Limited, Dahod, 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 Reserve Bank of India directives/guidelines relating to share linking norms, single and group borrower exposure limits, grant of donation beyond the permissible limit, formulation of Know Your Customer (KYC) policy and adherence to KYC and Anti Money Laundering guidelines.

The Government of India have announced the sale (re-issue) of (i) “7.83 percent Government Stock 2018” for a notified amount of `3,000 crore (nominal), (ii) “7.80 percent Government Stock 2021” for a notified amount of `6,000 crore (nominal) and (iii) “8.30 percent Government Stock 2040” for a notified amount of `3,000 crore (nominal) through price based auctions. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 15, 2011 (Friday).

The July issue of the Bulletin (rbi.org.in/scripts/BS_ViewBulletin.aspx) issue carries two special articles: (i) Finances of Public Limited Companies: 2009-10 (ii) Investment Portfolio of Scheduled Commercial Banks: March 2010. Highlights of the special articles are: