With a view to providing quicker information, the Reserve Bank of India has decided to disseminate the data relating to Reserve Money on every Wednesday and data relating to Money Supply (M3) on every alternate Wednesday, or the following working day in case of a holiday, through a press release. These data were earlier being released first through the Weekly Statistical Supplement on Friday. The data dissemination through other sources viz. Weekly Statistical Supplement, Monthly Bulletin and Real-Time Handbook of Statistics of the Indian Economy (dbie.rbi.org.in (dbie.rbi.org.in/) ) would continue.
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana, 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 admission of co-operative societies as nominal members in violation of provisions of Section 5(ccv) of B.R.Act, 1949 (AACS), bank's exposure to real estate beyond the permissible limit, violation of Know Your Customer (KYC) norms and violation of Section 20 A of the B.R.Act 1949 (AACS) in respect of waiving of interest on a director related advance.
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Kodagu District Co-operative Central Bank Ltd., Madikeri, N. Kodagu (Karnataka) in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating regulatory guidelines issued by the Reserve Bank on Non-SLR investments.
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