The Reserve Bank of India has issued in exercise of powers vested in it under sub-section (1) of Section 35A of Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, certain Directions to the Khedbrahma Nagarik Sahakari Bank Ltd., Khedbrahma, Distt. Sabarkantha (Gujarat), whereby as from the close of business as on October 31, 2011, the aforesaid bank shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except to the extent and in the manner as notified in the RBI Directions dated October 24, 2011, a copy of which is displayed on the bank's premises for perusal by interested members of the public.
The Government of India have announced the sale (re-issue) of (i) “7.99 percent Government Stock 2017” for a notified amount of ` 4,000 crore (nominal) through price based auction, (ii) “New 13 year Government Stock 2024” for a notified amount of ` 6,000 crore (nominal) through yield based auction and (iii) “8.30 percent Government Stock 2040” for a notified amount of ` 3,000 crore (nominal) through price based auction. 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 November 11, 2011 (Friday).
The Reserve Bank of India has today announced the auction of 42-days Government of India Cash Management Bills for a notified amount of Rs. 6,000 crore. The auction will be conducted on November 08, 2011 (Tuesday) using "Multiple Price Auction" method. The Cash Management Bills will be repaid at par on December 21, 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 Tuesday, November 08, 2011. Results will be announced on the same day. Payments by successful bidders will be on Wednesday, November 09, 2011.
The result of the RBI Reverse Repo auction held today is as under:
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