Business News – Weekly Newsletter for March 14-21, 2011
Monday, March 21, 2011
The Jai Bhavani Sahakari Bank Limited, Pune ??? Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jai Bhavani Sahakari Bank Limited, Pune, 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 … Read more : The Jai Bhavani Sahakari Bank Limited, Pune ??? Penalised.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.15 and the Reference Rate for Euro is ` 62.95 on March 14, 2011. The corresponding rates for the previous day (March 11, 2011) were ` 45.21 and ` 62.43 respectively. Based on the Reference Rate for US … Read more »»».
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 14, 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 11, 2011
…. Source : Money Market Operations as on March 11, 2011.
RBI releases Report of the Working Group on Operating Procedure of Monetary Policy
The Reserve Bank of India today placed on its website the Report of the Working Group on Operating Procedure of Monetary Policy (PublicationReportDetails.aspx?UrlPage=&ID=631) (Chairman: Shri Deepak Mohanty). Comments on the Report may please be emailed or forwarded by end-March 2011 to the Adviser-in-Charge, Monetary Policy Department, Reserve Bank of India, … Read more »»».
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.27 and the Reference Rate for Euro is ` 63.08 on March 15, 2011. The corresponding rates for the previous day (March 14, 2011) were ` 45.15 and ` 62.95 respectively. Based on the Reference Rate for US dollar … Read the original article on Gaea Times at : RBI Reference Rate for US $ and Euro.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 15, 2011 are:
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction
(Sale of securities by RBI)
1 day Repo Auction
…. Source article on Gaea Times at : Liquidity Adjustment Facility : Auction Results.
Money Market Operations as on March 14, 2011
… Read more »»».
Second Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 14, 2011 are:
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction
(Sale of securities by RBI)
1 day Repo Auction
…. Source article : Second Liquidity Adjustment Facility : Auction Results.
Mid-Quarter Review of Monetary Policy 2010-11 at 12 noon on March 17, 2011
The Reserve Bank of India will release its next Mid-Quarter Review of Monetary Policy 2010-11 at 12 noon on March 17, 2011. The Review will be by way of a press release and will be placed on RBI website.
Alpana Killawala
Chief General Manager
Press Release: 2010-2011/1312
Money Market Operations as on March 12, 2011
… Read the original article on Gaea Times at : Money Market Operations as on March 12, 2011.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.18 and the Reference Rate for Euro is ` 63.13 on March 16, 2011. The corresponding rates for the previous day (March 15, 2011) were ` 45.27 and ` 63.08 respectively. Based on the Reference Rate for …. Source article on Gaea Times at : RBI Reference Rate for US $ and Euro.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 16, 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 15, 2011
… Read more : Money Market Operations as on March 15, 2011.
Results of Auctions of 10-year State Development Loans, 2021 of Nine State Governments
The Results of the auctions of 10-year State Development Loans, 2021 for Nine State Governments held on March 15, 2011.
Table (` in crore)
Andhra Pradesh
Bihar
Gujarat
Haryana
Himachal Pradesh
Notified Amount
500.000
600.000
792.500
650.000
465.000
Underwriting Notified Amount
Nil
Nil
Nil
Nil
Nil
Competitive Bids Received
…. Original article : Results of Auctions of 10-year State Development Loans, 2021 of Nine State Governments.
Second Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 15, 2011 are:
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction
(Sale of securities by RBI)
1 day Repo Auction
… Read more >>.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.24 and the Reference Rate for Euro is ` 63.00 on March 17, 2011. The corresponding rates for the previous day (March 16, 2011) were ` 45.18 and ` 63.13 respectively. Based on the Reference Rate for US … Read more >>.
Mid-Quarter Monetary Policy Review: March 2011
Monetary Measures
On the basis of the current macroeconomic assessment, it has been decided to:
increase the repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5 per cent to 6.75 per cent with immediate effect; and
increase the reverse repo rate under the LAF by 25 basis points …. Source : Gaea News Network.
Data on ECB/FCCB for January 2011
The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB) (www.rbi.org.in/scripts/ECBUserView.aspx?Id=86) and Foreign Currency Convertible Bonds (FCCB), both through Automatic Route and Approval Route, for the month of January 2011.
Ajit Prasad
Assistant General Manager
Press Release: 2010-2011/1328
…. Source : Data on ECB/FCCB for January 2011.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 17, 2011 are:
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction
(Sale of securities by RBI)
1 day Repo Auction
…. Source : Gaea News Network.
Money Market Operations as on March 16, 2011
… Original article on : Money Market Operations as on March 16, 2011.
Second Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 16, 2011 are:
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction (Sale of securities by RBI)
1 day Repo Auction
(Purchase …. Read the original article : here.
182 day Treasury Bills : Auction Result
Date of Auction : March 16, 2011
I.
Notified Amount
` 2,000.00 crore
II.
Underwriting notified amount
N.A.
III.
Competitive Bids received
(i)
Number
69
(ii)
Amount
` 10,035.57 crore
IV.
Cut-off price
` 96.41 (YTM is 7.4678%)
V.
Competitive bids accepted
(i)
Number
12
(ii)
Amount
` 2,000.00 crore
VI.
Partial Allotment Percentage of Comp. Bids
17.26 (4 Bids)
VII.
Weighted Average Price
` 96.42
VIII.
Non-competitive bids received
(i)
Number
1
(ii)
Amount
` 0.05 crore
IX.
Non-competitive bids accepted
(i)
Number
1
(ii)
Amount
` 0.05 crore
(iii)
Partial Allotment Percentage
100.00
…. Read the original article : 182 day Treasury Bills : Auction Result.
91 days Treasury Bills : Auction Result
Date of Auction : March 16, 2011
I.
Notified Amount
` 5000.00 crore
II.
Underwriting notified amount
N.A.
III.
Competitive Bids received
(i)
Number
82
(ii)
Amount
` 10,231.10 crore
IV.
Cut-off price
` 98.23 (YTM is 7.2274%)
V.
Competitive bids accepted
(i)
Number
55
(ii)
Amount
` 5000.00 crore
VI.
Partial Allotment Percentage of Competitive Bids
61.80 (12 Bids)
VII.
Weighted Average …. Original source : 91 days Treasury Bills : Auction Result.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.09 and the Reference Rate for Euro is ` 63.43 on March 18, 2011. The corresponding rates for the previous day (March 17, 2011) were ` 45.24 and ` 63.00 respectively. Based on the Reference Rate … Read the original article on Gaea Times at : RBI Reference Rate for US $ and Euro.
Liquidity Adjustment Facility: Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 18, 2011 are:
Amount (face value in ` crore)
Item
3 days Reverse Repo Auction
(Sale of securities by RBI)
3 days Repo Auction
…. Source article on Gaea Times at : Liquidity Adjustment Facility: Auction Results.
Money Market Operations as on March 17, 2011
…. Original article : Money Market Operations as on March 17, 2011.
Interest Rate Futures on 91-Day Treasury Bills – Methodology for computing the weighted average discount yield
The amendment directions, issued by the Reserve Bank of India (RBI) on March 07, 2011, permitting trading of Interest Rate Futures (IRFs) on 91-Day Treasury Bills specifies that the final settlement price of the futures contract shall be based on the weighted average price/yield obtained in the weekly auction of the …. Source article : Interest Rate Futures on 91-Day Treasury Bills – Methodology for computing the weighted average discount yield.
Second Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 17, 2011 are
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction (Sale of securities by RBI)
1 day Repo Auction
…. Original article on Gaea Times at : Second Liquidity Adjustment Facility : Auction Results.
Saptagiri Gramin Bank, Chittoor ??? Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Saptagiri Gramin Bank, Chittoor, 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 …. Original article on Gaea Times at : Saptagiri Gramin Bank, Chittoor ??? Penalised.
364-day Treasury Bills auction: Rs.3,000 crore under regular auction
The Reserve Bank of India has announced the auction of 364-day Government of India Treasury Bills for notified amount of Rs.3,000 crore. The auction will be conducted on March 23, 2011 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the discretion … Read more : 364-day Treasury Bills auction: Rs.3,000 crore under regular auction.
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 23, 2011 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the discretion … Original source on Gaea Times at : 91-day Treasury Bills auction: Rs.5,000 crore under regular auction.
Second Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on March 18, 2011 are:
Amount (face value in ` crore)
Item
3 days Reverse Repo Auction (Sale of securities by RBI)
3 days Repo Auction
…. Source : Second Liquidity Adjustment Facility : Auction Results.
Three State Governments announce Auction of State Development Loans 2021 for ` 218.650 crore on March 22, 2011
The following three State Governments have announced the sale of their 10-year State Development Loans (SDLs) for an aggregate amount of `218.650 crore through yield based auction using multiple price auction method.
Sr. No.
State
Notified Amount (`Crore)
1
Manipur
77.000
2
Mizoram
76.650
3
Tripura
65.000
Total
218.650
The auction will be conducted by the Reserve Bank of India (RBI) at Mumbai on March … Original source on Gaea Times at : Three State Governments announce Auction of State Development Loans 2021 for ` 218.650 crore on March 22, 2011.
Reserve Bank of India ??? Bulletin Weekly Statistical Supplement ??? Extract
1. Reserve Bank of India – Liabilities and Assets
(` crore)
Item
2010
2011
Variation
Mar. 12
Mar. 4
Mar. 11#
Week
Year
1
2
3
4
5
6
Loans and advances
Central Government
—
—
—
—
—
State Governments
1,041
2,033
1,750
–282
709
2. Foreign Exchange Reserves
Variation over
Item
As on Mar. 11, 2011
Week
End-March 2010
End-December 2010
Year
`
Crore
US$
…. Source article on Gaea Times at : Reserve Bank of India ??? Bulletin Weekly Statistical Supplement ??? Extract.
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 28, 2011 to March 4, 2011.
All Figures are in USD Millions
Position
Date
MERCHANT
INTER BANK
FCY / INR
FCY / FCY
FCY / INR
FCY …. Source article on Gaea Times at : Foreign Exchange Turnover Data.