Financial Compliance

RBI Cancels Licence of Shirpur Merchants' Co-operative Bank

The Reserve Bank of India cancelled the licence of The Shirpur Merchants' Co-operative Bank Ltd., Shirpur effective April 6, 2026, under Section 22 read with Section 56 of the Banking Regulation Act, 1949. The bank ceases all banking business operations due to inadequate capital, non-compliance with statutory requirements, and inability to protect depositor interests. DICGC has already paid ₹48.95 crore to eligible depositors, with 99.7% of depositors entitled to full coverage up to ₹5 lakh.

Result of Yield/Price Based Auction of State Government Securities - April 2026

The Reserve Bank of India conducted an auction of state government securities on April 7, 2026, successfully raising the full target of ₹18,159 crore from seven participating states. All amounts offered were accepted, with yields ranging from 7.35% to 8.07% across tenors of 5 to 31 years. This represents standard monetary operations by the RBI for state government borrowing.

RBI extends regulatory directions for Ramgarhia Co-operative Bank Ltd., New Delhi

The Reserve Bank of India has extended the operational period of Directive No. DEL.DOS.EXG_SSM.No.S515/12-10-013/2022-2023 for Ramgarhia Co-operative Bank Ltd., New Delhi for an additional three months from close of business on April 8, 2026 to close of business on July 8, 2026. The extension is issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The RBI notes that this extension should not be construed as satisfaction with the bank's financial position.

Auction of Government of India 6.48% GS 2035 - Rs 34,000 Crore

The Reserve Bank of India announced the auction of Government of India dated security 6.48% GS 2035 for a notified amount of Rs 34,000 crore. The auction will be conducted on April 10, 2026 using the multiple price method, with settlement on April 13, 2026. GoI may retain additional subscription up to Rs 2,000 crore.

RBI extends Baghat Urban Co-operative Bank regulatory directions

The Reserve Bank of India has extended regulatory directions issued to The Baghat Urban Co-operative Bank Limited, Solan for a further three months from close of business on April 8, 2026 to close of business on July 8, 2026. The original directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 were issued on October 6, 2025. The extension is subject to review and does not imply satisfaction with the bank's financial position.

Money Market Operations Report - April 6, 2026

The Reserve Bank of India published its daily money market operations report for April 6, 2026, presenting statistical data on monetary operations including amounts in ₹ crore and interest rates. The report provides transparency on the central bank's liquidity management activities for the specified date.

State Government Securities Auction Results - April 7, 2026

The Reserve Bank of India published auction results for State Government Securities dated April 7, 2026. The results detail the outcome of government bond auctions conducted for state governments, showing issuance amounts, yields, and participating institutions. This routine publication provides transparency on public debt operations and state borrowing activities.

NCUA Ninth Round Deregulation Proposals - Field of Membership Eligibility

The National Credit Union Administration announced its ninth round of deregulation proposals under the ongoing Deregulation Project. The proposal targets 12 CFR 701, Appendix B concerning credit union chartering and field of membership eligibility. NCUA seeks to remove the automatic disqualification of associational groups that require purchase of a product or service as a condition of membership, replacing it with a more holistic evaluation approach.

AML/CFT Program Requirements - Joint Notice of Proposed Rulemaking

The FDIC, OCC, and NCUA have issued a joint notice of proposed rulemaking to amend AML/CFT program requirements for supervised banks and credit unions. The proposed amendments would align agency regulations with FinCEN requirements and the Anti-Money Laundering Act of 2020, introducing risk-based program requirements, US-based designated AML/CFT officer requirements, and a new FinCEN consultation framework for supervisory and enforcement actions.

Prestige Investment Management LLC – Consent Order S-23-3692-25-CO01

WA DFI Securities Division issued a Consent Order against Prestige Investment Management LLC on March 18, 2026, imposing a $10,000 fine, $2,500 in investigative costs, and a cease and desist order. The firm was found to have offered and sold an unregistered investment to a Washington resident in 2014 via a Deferred Sales Trust transaction. The firm is not registered to sell securities in Washington State.