Investment by FIIs-NRIs under PIS
Jan 24, 11:52 AM EST |
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| RBI on Jan 24, 2006 has notified that no further purchases of equity shares of Indian Overseas Bank should be made on behalf of FIIs/NRIs under PIS |
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| The Reserve Bank has stated that Indian Overseas Bank has reached the limit of 18 per cent of its paid up capital. |
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Governor, RBI on the Third Quarter Review
Jan 24, 11:59 AM EST |
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| Statement by Dr. Y. Venugopal Reddy, Governor, Reserve Bank of India on the Third Quarter Review of Annual Monetary Policy for the Year 2005-06 |
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| This Review consists of three sections:
I. Assessment of Macroeconomic and Monetary Developments;
II. Stance of Monetary Policy; and
III. Monetary Measures. |
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Misuse of IPO finance- Penal action taken
Jan 23, 12:05 PM EST |
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| RBI in exercise of powers vested under Sec 47 A (1)(b) of the Banking Regul Act, 1949 imposed monetary penalties on seven scheduled commercial banks |
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| The RBI had issued show cause notices to all these banks. In response thereto banks had submitted their written responses and the CEOs had also sought personal hearing with the RBI, which was granted. On careful examination of banks'' submission, the RBI has come to a conclusive decision that the aforesaid violations were substantiated and accordingly the monetary penalties are imposed. |
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Collection of account payee cheque
Jan 23, 12:08 PM EST |
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| Prohibition on crediting proceeds to third party account |
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| In view of the recent misuse of Initial Public Offer (IPO) process by certain individuals/entities and reports received in this regard from Securities and Exchange Board of India (SEBI), the Reserve Bank of India took up detailed investigations at some banks to ascertain the modus operandi adopted by different parties in manipulating the system. |
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RBI Cancels Certi of Regi of Chennakesava Fin
Jan 23, 12:16 PM EST |
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| Reserve Bank Cancels Certificate of Registration of Chennakesava Finance and Investments Private Limited, Hyderabad |
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| The Reserve Bank of India, has on January 4, 2006 cancelled the certificate of registration granted to Chennakesava Finance and Investments Private Limited, having its registered office at 304, Aditya Trade Centre, Ameerpet, Hyderabad– 500 038 for carrying on the business of a non-banking financial institution. |
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RBI Reference Rate for US dollar and Euro
Jan 23, 12:19 PM EST |
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| Reference Rate for the US dollar is Rs.44.1500 and Reference Rate for Euro is Rs.54.0600 on January 23, 2006. |
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| The Reserve Bank of India’s Reference Rate for the US dollar is Rs.44.1500 and the Reference Rate for Euro is Rs.54.0600 on January 23, 2006. The corresponding rates for the previous day (January 20, 2006) were Rs.44.3600 and Rs.53.5600 respectively. |
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M & M Developments 3rd Qtr Review 2005-06
Jan 23, 12:25 PM EST |
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| Macroeconomic and Monetary Developments Third Quarter Review 2005-06 |
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| The Reserve Bank of India today released the document ""Macroeconomic and Monetary Developments: Third Quarter Review 2005-06"" to serve as a backdrop to the Third Quarter Review of the Annual Statement on Monetary Policy. |
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182 Day Treasury Bills Auction :
Jan 20, 6:26 AM EST |
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| Rs.500 crore under regular auction |
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| The Reserve Bank of India has announced the auction of 182 day Government of India treasury bills for a notified amount of Rs.500 crore under the regular auction calendar. The auction will be conducted using ''Multiple Price Auction'' method. The allocation to non-competitive bidders will be outside the notified amount, at the discretion of the Bank. |
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91 Day Treasury Bills Auction :
Jan 20, 6:28 AM EST |
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| Rs.500 crore under regular auction |
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| The Reserve Bank of India has announced the auction of 91 day Government of India treasury bills for a notified amount of Rs.500 crore under the regular auction calendar. The auction will be conducted using ''Multiple Price Auction'' method. |
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RBI Cancels Certi of Regi of Adayar Fin&Leasing
Jan 18, 6:34 AM EST |
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| The Reserve Bank of India, has on January 4, 2006 cancelled the certificate of registration granted to Adayar Finance & Leasing Limited, |
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| Under powers conferred by Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-banking financial company. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934. |
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