The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Sawaimadhopur Urban Co-operative Bank Limited, Sawaimadhopur, 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 pertaining to the ceiling on unsecured advances applicable in case of urban co-operative Banks.

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 August 12, 2011 (Friday).

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.9620 and the Reference Rate for Euro is ` 64.5563 on August 8, 2011. The corresponding rates for the previous day (August 5, 2011) were ` 44.8030 and ` 63.1110 respectively. Based on the Reference Rate for the US dollar and middle rates of the cross-currency quotes, the exchange rates of GBP and JPY against the Rupee are given below: