Reserve Bank Of India

The results of the RBI Repo/Reverse Repo auctions held on March 28, 2011 are:

The Reserve Bank of India has today notified that the aggregate share holdings in Matra Realty Ltd. by Foreign Institutional Investors (FIIs) under the Portfolio Investment Scheme (PIS) has gone below the prescribed trigger limit. Hence, the company is being removed from the caution list for FII's investment and the restrictions placed on the purchase of share of the above company are withdrawn with immediate effect. Therefore, the shares of above company can be purchased in the secondary market on behalf of FIIs clients who have obtained permission to invest under the PIS subject to the existing ceilings and guidelines in this regard.

In revision to our earlier press release on March 25, 2011, in addition to Government of Nagaland, the Government of Jammu and Kashmir has also announced the sale of their 10-year State Development Loan (SDL) for an aggregate amount of Rs. 29.380 crore through yield based auction using multiple price auction method.

The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Patdi Nagrik Sahakari Bank Limited, Patdi, Dist. Surendranagar, 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 certain violations viz. non-adherence to Know Your Customer (KYC) norms/Anti-Money Laundering (AML) guidelines, not filing of Cash Transaction Report (CTR)/Suspicious Transaction Report (STR) statements with Financial Intelligence Unit-India (FIU-IND), New Delhi and incomplete rectification of irregularities pointed out in previous inspection report of Reserve Bank of India.

The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Nagrik Sahakari Bank Limited, Babra, Dist. Amreli, 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 in respect of reporting of cash transaction above  ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), New Delhi and granting of unsecured advances in excess of the prescribed limits.