The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Becharaji Nagarik Sahakari Bank Limited, Becharaji, Dist. Mehsana, 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's instructions relating to Know Your Customer (KYC) norms and Anti Money Laundering (AML) guidelines.

The result of the RBI Repo auctions held on August 17, 2011 are:

The third meeting of the Sub-Committee of the Financial Stability Development Council (FSDC) was held today in the Reserve Bank of India, New Delhi. Dr. D. Subbarao, Governor, Reserve Bank of India, chaired the meeting. The meeting was attended by Shri R. S. Gujaral, Finance Secretary; Shri R. Gopalan, Secretary, Department of Economic Affairs; Shri D. K. Mittal, Secretary, Department of Financial Services; Dr. Kaushik Basu, Chief Economic Adviser, Ministry of Finance; Shri U. K. Sinha, Chairman, SEBI; Shri Yogesh Agrawal, Chairman, PFRDA and Deputy Governors, RBI: Dr. K.C. Chakrabarty, Dr. Subir Gokarn, Shri Anand Sinha, Shri H.R. Khan and other officials.