The result of the RBI Reverse Repo auction held today is as under:
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of directives/guidelines of the Reserve Bank of India on loans/advances to directors, by purchasing cheques beyond ` 0.50 lakh pertaining to relatives of a director.
The Reserve Bank of India has launched the 56th round of the Industrial Outlook Survey (IOS) ( for reference period October–December 2011. The Reserve Bank has been conducting the Industrial Outlook Survey on a quarterly basis since 1998. The survey gives an insight into the perception of the public and private limited companies engaged in manufacturing activities about their own performance and prospects. The survey covers non-financial private and public limited companies with a good size/industry representation. The assessment of business sentiments for the current quarter and expectations for the ensuing quarter are based on qualitative responses to 20 major parameters covering overall business situation, financial situation, demand indicators, price and employment expectations, profit margins, etc. The survey provides useful forward looking inputs for policymakers, analysts and business alike.
In the auctions conducted on October 13, 2011 for Additional Competitive Underwriting (ACU) of the Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:
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