The Reserve Bank of India has today announced the auction of 49-days Government of India Cash Management Bills for a notified amount of ` 6,000 crore. The auction will be conducted on August 8, 2011 using "Multiple Price Auction" method. The Cash Management Bills will be repaid at par on September 27, 2011. The competitive bids for the auction should be submitted in electronic format on the Negotiated Dealing System (NDS) between 10.30 a.m. and 12.30 p.m on Monday, August 8, 2011. Results will be announced on the same day. Payments by successful bidders will be on Tuesday, August 9, 2011.

The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), 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/instructions relating to filing of Suspicious Transaction Reports as required under Anti Money Laundering guidelines and persistence of irregularities pointed out in the previous Reserve Bank of India inspection report.

The Reserve Bank of India has launched the Fourteenth round of its Order Books, Inventories and Capacity Utilisation Survey (OBICUS) (www.rbi.org.in/scripts/BS_ViewForms.aspx?Id=182) . The survey is for the reference period April – June 2011.

The Reserve Bank of India has announced the auction of 364-day Government of India Treasury Bills for notified amount of ` 3,000 crore. The auction will be conducted on August 10, 2011 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the discretion of the Bank. The sale will be subject to the terms and conditions specified in the General Notification No. F.2 (12)-W & M/97 dated 31st March, 1998 issued by Government of India and as amended from time to time.

The Reserve Bank of India has announced the auction of 91-day Government of India Treasury Bills for notified amount of ` 7,000 crore. The auction will be conducted on August 10, 2011 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the discretion of the Bank. The sale will be subject to the terms and conditions specified in the General Notification No. F.2 (12)-W & M/97 dated 31st March, 1998 issued by Government of India and as amended from time to time.