The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on Pravara Sahakari Bank Ltd., Ahmednagar, Maharashtra, 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 (As applicable to Co-operative Societies), for violation of directives/guidelines of the Reserve Bank of India on maximum limit on advances as modified from time to time, by sanctioning loans to trusts managing different colleges in excess of the single borrower norm
The result of the RBI Reverse Repo auction held today is as under:
In the auctions conducted on October 25, 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:
