Business News – Weekly Newsletter for March 7-14, 2011

Monday, March 14, 2011

RBI sets up Working Group to examine Issues relating to NBFC Sector

The Reserve Bank of India has constituted a Working Group under the Chairmanship of Smt. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) to examine a range of emerging issues pertaining to regulation of the NBFC (non-banking financial companies) sector.

The NBFC sector in India has …. Original article : RBI sets up Working Group to examine Issues relating to NBFC Sector.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.13 and the Reference Rate for Euro is ` 63.06 on March 7, 2011. The corresponding rates for the previous day (March 4, 2011) were ` 44.99 and ` 62.80 respectively. Based on the Reference Rate for …. Original article : RBI Reference Rate for US $ and Euro.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 7, 2011 are:

Amount (face value in ` crore)

Item

1 day Reverse Repo Auction
(Sale of securities by RBI)

1 day Repo Auction
…. Original article : Liquidity Adjustment Facility : Auction Results.

Money Market Operations as on March 04, 2011

…. Source : Gaea News Network.

The Muslim Co-operative Bank Ltd., Pune, Maharashtra ??? Penalised

The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Muslim Co-operative Bank Ltd., Pune, 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 (AACS) for … Read more »».

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.03 and the Reference Rate for Euro is ` 62.94 on March 8, 2011. The corresponding rates for the previous day (March 7, 2011) were ` 45.13 and ` 63.06 respectively. Based on the Reference Rate for …. Original article : RBI Reference Rate for US $ and Euro.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 8, 2011 are:

Amount (face value in ` crore)

Item

1 day Reverse Repo Auction
(Sale of securities by RBI)

1 day Repo Auction
… Read more >>>.

Money Market Operations as on March 07, 2011

… Read : Money Market Operations as on March 07, 2011.

Second Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 7, 2011 are:

Amount (face value in ` crore)

Item

1 day Reverse Repo Auction (Sale of securities by RBI)

1 day Repo Auction
(Purchase of … Original article on : Second Liquidity Adjustment Facility : Auction Results.

IRF Trading on 91-day T bills: RBI issues Amendment Directions

The Reserve Bank of India (RBI) today placed on its website the amendment directions on Interest Rate Futures (IRFs) permitting trading of IRFs on 91-Day Treasury Bills (www.rbi.org.in/scripts/NotificationUser.aspx?Id=6276&Mode=0) .

The 91-Day T-Bill Futures would have the following features:
a) The contract shall be on 91-Day Treasury Bills issued by the Government of …. Source article : IRF Trading on 91-day T bills: RBI issues Amendment Directions.

Money Market Operations as on March 5, 2011

…. Source : Gaea News Network.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.02 and the Reference Rate for Euro is ` 62.54 on March 9, 2011. The corresponding rates for the previous day (March 8, 2011) were ` 45.03 and ` 62.94 respectively. Based on the Reference Rate for US …. Source : Gaea News Network.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 9, 2011 are:

Amount (face value in ` crore)

Item

1 day Reverse Repo Auction
(Sale of securities by RBI)

1 day Repo …. Original source : Liquidity Adjustment Facility : Auction Results.

Money Market Operations as on March 08, 2011

Second Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 8, 2011 are:

Amount (face value in ` crore)

Item

1 day Reverse Repo Auction
(Sale of securities by RBI)

1 day Repo Auction
…. Source : Second Liquidity Adjustment Facility : Auction Results.

RBI releases its Monthly RBI Bulletin for March 2011

The Reserve Bank of India today released March 2011 issue of its monthly RBI Bulletin (www.rbi.org.in/scripts/BS_ViewBulletin.aspx) . The March issue carries five special articles: (i) North-East Monsoon 2010: An Overview (October 1 to December 31, 2010), (ii) India’s Foreign Trade: 2010-11 (April-December), (iii) Quarterly Industrial Outlook Survey: October-December 2010 …. Source article : RBI releases its Monthly RBI Bulletin for March 2011.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.11 and the Reference Rate for Euro is ` 62.56 on March 10, 2011. The corresponding rates for the previous day (March 9, 2011) were ` 45.02 and ` 62.54 respectively. Based on the Reference Rate for …. Original source : RBI Reference Rate for US $ and Euro.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 10, 2011 are:

Amount (face value in ` crore)

Item

1 day Reverse Repo Auction
(Sale of securities by RBI)

1 day Repo Auction
…. Source : Liquidity Adjustment Facility : Auction Results.

Money Market Operations as on March 09, 2011

… Read this article on Gaea Times at : Money Market Operations as on March 09, 2011.

Second Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 9, 2011 are:

Amount (face value in ` crore)

Item

1 day Reverse Repo Auction
(Sale of securities by RBI)

1 day Repo Auction
… Read more : Second Liquidity Adjustment Facility : Auction Results.

364 days Treasury Bills : Auction Result

Date of Auction : March 9, 2011

Notified Amount

` 3000.00 crore

II.

Underwriting notified amount

N.A.

III.

Competitive Bids received

(i)

Number

(ii)

Amount

` 11561.75 crore

IV.

Cut-off price

` 92.97 (YTM is 7.5824%)

Competitive bids accepted

(i)

Number

(ii)

Amount

` 3000.00 crore

VI.

Partial Allotment Percentage of
Competitive Bids … Original article on : 364 days Treasury Bills : Auction Result.

Scheduled Banks’ Statement of Position in India as on Friday, February 25, 2011

(Amount in Rupees crore)

Scheduled Commercial Banks (SCBs)
(including RRBs)

All Scheduled Banks

26.02.2010

11.02.2011

25.02.2011

26.02.2010

11.02.2011

25.02.2011

Liabilities to the Banking System (A)

a) Demand & time deposits from banks

56165.32

68248.23

70964.58

58465.98

70996.24

73691.67

b) Borrowings from banks

21068.47

26331.36

26351.59

21080.84

26513.04

26535.54

c) Other demand & time liabilities

5857.56

6981.33

7099.07

5859.88

6986.17

7103.05

Liabilities …. Original source : Scheduled Banks’ Statement of Position in India as on Friday, February 25, 2011.

91 days Treasury Bills : Auction Result

Date of Auction : March 9, 2011

Notified Amount

` 5000.00 crore

II.

Underwriting notified amount

N.A.

III.

Competitive Bids received

(i)

Number

(ii)

Amount

` 10908.4050 crore

IV.

Cut-off price

` 98.25 (YTM is 7.1443%)

Competitive bids accepted

(i)

Number

(ii)

Amount

` 5000.00 crore

VI.

Partial Allotment Percentage of Competitive Bids

79.88 (24 Bids)

VII.

Weighted Average Price

` 98.25

VIII.

Non-competitive bids received

(i)

Number

(ii)

Amount

` 500.00 …. Original article : 91 days Treasury Bills : Auction Result.

Issue of new Coins of ` 5 with the theme “ONE THOUSAND YEARS OF BRIHADEESWARAR TEMPLE”

The Reserve Bank of India will shortly put into circulation coins of ` 5 with the theme "ONE THOUSAND YEARS OF BRIHADEESWARAR TEMPLE".

The coin of above denomination shall conform to the following dimension, design and composition, namely :

Denomination of
the … Read the original article on Gaea Times at : Issue of new Coins of ` 5 with the theme “ONE THOUSAND YEARS OF BRIHADEESWARAR TEMPLE”.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.21 and the Reference Rate for Euro is ` 62.43 on March 11, 2011. The corresponding rates for the previous day (March 10, 2011) were ` 45.11 and ` 62.56 respectively. Based on the Reference Rate for US dollar [..] Read the original article: here.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 11, 2011 are:

Amount (face value in ` crore)

Item

3 days Reverse Repo Auction
(Sale of securities by RBI)

3 days Repo Auction
…. Original article : Liquidity Adjustment Facility : Auction Results.

Money Market Operations as on March 10, 2011

…. Source : Gaea News Network.

Second Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 10, 2011 are:

Amount (face value in ` crore)

Item

1 day Reverse Repo Auction
(Sale of securities by RBI)

1 day Repo Auction
… Read this article on Gaea Times at : Second Liquidity Adjustment Facility : Auction Results.

RBI refuses Issue of Authorisation to Zoha Inc, USA to Operate Cross Border Money Transfer Service in India

The Reserve Bank of India has refused the authorisation application of Zoha Inc, 291-Grove Street, Jersey City, New Jersey, 07302, USA to operate payment system for cross-border in-bound money transfer services. It has asked Zoha Inc, USA to wind-up their existing services for cross border money transfer …. Original article : RBI refuses Issue of Authorisation to Zoha Inc, USA to Operate Cross Border Money Transfer Service in India.

91-day Treasury Bills auction: Rs.5,000 crore under regular auction

The Reserve Bank of India has announced the auction of 91-day Government of India Treasury Bills for notified amount of Rs.5,000 crore. The auction will be conducted on March 16, 2011 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the …. Read the original article : here.

Nine State Governments announce Auction of State Development Loans 2021 for Rs. 5,232.860 crore on March 15, 2011

The following nine State Governments have announced the sale of their 10-year State Development Loans (SDLs) for an aggregate amount of Rs. 5,232.860 crore through yield based auction using multiple price auction method.

Sr. No.

State

Notified Amount (Rs. Crore)

Andhra Pradesh

550.000

Bihar

600.000

Gujarat

792.500

Haryana

650.000

Himachal …. Original source : Nine State Governments announce Auction of State Development Loans 2021 for Rs. 5,232.860 crore on March 15, 2011.

Second Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on March 11, 2011 are:

Amount (face value in ` crore)

Item

3 days Reverse Repo Auction
(Sale of securities by RBI)

3 days Repo Auction
…. Original source : Second Liquidity Adjustment Facility : Auction Results.

Reserve Bank of India ??? Bulletin Weekly Statistical Supplement ??? Extract

1. Reserve Bank of India – Liabilities and Assets

(` crore)

Item

2010

2011

Variation

Mar. 5

Feb. 25

Mar. 4#

Week

Year

Loans and advances

Central Government

—

State Governments

341

1,199

2,033

834

1,691

2. Foreign Exchange Reserves

Variation over

Item

As on Mar. 4, 2011

Week

End-March 2010

End-December 2010

Year

`
…. Read the original article : Reserve Bank of India ??? Bulletin Weekly Statistical Supplement ??? Extract.

182-day Treasury Bills auction: Rs.2,000 crore under regular auction

The Reserve Bank of India has announced the auction of 182-day Government of India Treasury Bills for notified amount of Rs.2,000 crore. The auction will be conducted on March 16, 2011 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the …. Original source : 182-day Treasury Bills auction: Rs.2,000 crore under regular auction.

Foreign Exchange Turnover Data

The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period February 21, 2011 to February 25, 2011.

All Figures are in USD Millions

Position
Date

MERCHANT

INTER BANK

FCY / INR

FCY / FCY

FCY / INR

FCY / … Original article on : Foreign Exchange Turnover Data.