Month: March 2021

Three in the race to become PNB’s second shareholder director

Banking & Finance

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Three persons are in the race to being elected as a shareholder director in Punjab National Bank (PNB), the country’s second largest public sector bank, at the upcoming extraordinary general meeting (EGM) of shareholders on March 17.

The Board of Directors of PNB had, at its meeting held on Friday, found three candidates — out of total nominations of four persons received by the bank as of March 2 — as “fit and proper” for being elected as a shareholder director of the bank, sources said.

PNB convenes EGM to elect a 2nd shareholder director to its Board

The three persons, all aged 66 years, who are in the fray are Gautam Guha (from New Delhi), Padmanabhan A A (from Chennai) and Ramesh Chandra Agrawal (from Prayagraj), they added. All the three have experience in the area of banking.

PNB is now looking to rope in its second shareholder director on the strength of a recent Finance Ministry decision empowering Public Sector Bank (PSB) boards to act on the decisions that remained held up at various board-level committees due to lack of quorum arising from vacancies or recusal by existing directors.

PNB to raise ₹2,500 cr via AT-1 bonds by March 15: CEO

A shareholder director is one who is elected from among shareholders other than the Central government. A public sector bank has two main categories of shareholders — Central government and ‘other shareholders’ (public shareholders). In India, all the public sector banks are listed entities although none of them are registered as companies under the Companies Act. There is separate legislation to govern the Board composition of such PSBs.

The elected shareholder director is finally appointed by the Nomination and Remuneration Committee (NRC) of the bank Board concerned. PNB currently does not have the requisite NRC strength and is therefore looking to get another shareholder director through Board approval route after election of such a director by the shareholders of the bank at an EGM.

Recent QIP

PNB has moved to get another shareholder director after its recent nearly ₹3,788-crore qualified institutional placement (QIP), which saw the Centre’s shareholding in the bank drop from 85.59 per cent to 76.87 per cent. With the Centre’s shareholding coming down, PNB became technically eligible to have two shareholder directors.

Having an additional shareholder director on a Board is useful for banks like PNB as all shareholder directors are counted as independent directors for the purpose of compliance with SEBI regulations for listed entities.

In public sector banks, there are executive directors appointed by Central government, there is government nominee director (official of Central government), there is an RBI nominee director, two employee directors (representing workmen and officers) and other directors (shareholder directors).

This will be the second shareholder director for PNB besides Asha Bhandarker, who was elected on September 12, 2018, for a period of three years.

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Reserve Bank of India – Press Releases

Press Releases

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(Amount in ₹ crore, Rate in Per cent)
  Volume
(One Leg)		 Weighted
Average Rate 		Range
A. Overnight Segment (I+II+III+IV) 0.00 – –
     I. Call Money 0.00 – –
     II. Triparty Repo 0.00 – –
     III. Market Repo 0.00 – –
     IV. Repo in Corporate Bond 0.00 – –
B. Term Segment      
     I. Notice Money** 0.00 – –
     II. Term Money@@ 0.00 – –
     III. Triparty Repo 0.00 – –
     IV. Market Repo 0.00 – –
     V. Repo in Corporate Bond 0.00 – –
  Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate
C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)
I. Today’s Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Sun, 07/03/2021 1 Mon, 08/03/2021 3,830.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo – – – – –
3. MSF Sun, 07/03/2021 1 Mon, 08/03/2021 509.00 4.25
4. Long-Term Repo Operations –   –   –
5. Targeted Long Term Repo Operations – – – – –
6. Targeted Long Term Repo Operations 2.0 – – – – –
7. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		      

-3,321.00

 
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Sat, 06/03/2021 2 Mon, 08/03/2021 23,493.00 3.35
  Fri, 05/03/2021 3 Mon, 08/03/2021 4,87,208.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 26/02/2021 14 Fri, 12/03/2021 2,00,010.00 3.50
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Sat, 06/03/2021 2 Mon, 08/03/2021 1,674.00 4.25
  Fri, 05/03/2021 3 Mon, 08/03/2021 31.00 4.25
4. Long-Term Repo Operations# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15
  Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15
  Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15
  Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15
5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40
  Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40
  Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40
  Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40
6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40
D. Standing Liquidity Facility (SLF) Availed from RBI$       32,842.06  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -5,99,081.94  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -6,02,402.94  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 07/03/2021 4,38,806.10  
     (ii) Average daily cash reserve requirement for the fortnight ending 12/03/2021 4,49,720.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 05/03/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 12/02/2021 8,49,099.00  
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
– Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.
# As per the Press Release No. 2020-2021/287 dated September 04, 2020.
^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
Ajit Prasad
Director   
Press Release : 2020-2021/1210

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Banks seek six months more to implement new standing instruction norms, BFSI News, ET BFSI

Banking & Finance

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Large lenders and payment entities including State Bank of India, ICICI, Citi, HDFC, Axis, HSBC, Visa and Mastercard have asked the Reserve Bank of India (RBI) to postpone the deadline for putting in place a new system to alert customers on ‘standing instruction’ transactions.

The banks were asked to set up the system by March 31, 2021.

The lenders also want RBI to exclude transactions against pre-existing standing instructions and those with international merchants from the new conditions for e-mandates on cards for recurring transactions, according to an ET report.

How does the new system work?

Under the proposed system, as a risk mitigating and customer facilitation measure, the card-issuing bank will have to send a pre-transaction notification to the cardholder, at least 24 hours before the actual charge or debit to the card. While registering e-mandate on the card, the cardholder shall be given the facility to choose a mode among available options (SMS, email, etc.) for receiving the pre-transaction notification from the issuer. On receipt of the pre-transaction notification, the cardholder shall have the facility to opt-out of the particular transaction or the e-mandate.

What is a standing instruction?

A standing instruction is a service offered to customers of a bank, wherein regular transactions that the customer wants to make are processed as a matter of course instead of initiating specific transactions each time.

This service relates to transactions like renewing subscription to OTT platforms, newspapers and magazines, and utility bill payments.

What banks want?

Many banks are not ready and have sought at least three to six months more to build the needed infrastructure. They will have to make investments and incur costs but have little choice as customers could simply move to other banks that offer the transactions.

No bank would like to lose customers who do multiple recurring transactions. Customers would also receive a post-transaction alert from the bank — mentioning, in the communication, the merchant’s name, transaction amount, date and time of debit, reference number of transaction etc, according to the RBI directive.



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Reserve Bank of India – Press Releases

Press Releases

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April 14, 2015





Dear All




Welcome to the refurbished site of the Reserve Bank of India.





The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.





With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.




The site can be accessed through most browsers and devices; it also meets accessibility standards.



Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.



Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.



Thank you for your continued support.




Department of Communication

Reserve Bank of India


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Bad bank may be led by private lenders for greater flexibility, BFSI News, ET BFSI

Banking & Finance

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Private sector banks and entities are being tipped for taking 51% stake in the proposed bad bank with public sector lenders taking the rest, according to reports.

However, the lenders with links with bad assets housed in the bad bank will not be allowed to invest in it.

How will a private sector-led bad bank help?

With the majority ownership vested in the private sector, it would lead to flexibility in decision making.

The chief economic advisor had pitched for a private sector-led bad bank earlier.

“The bad bank will certainly help in consolidating some of the non-performing assets. It’s important to also think about implementing the bad bank in the private sector that enables (faster) decision making,” he had said.

The move would keep the organisation out of the purview of government scrutiny of Central Central Bureau of Investigation (CBI), Comptroller and Auditor General of India (CAG), Central Vigilance Commission (CVC).

How does the private sector benefit?

There are about Rs 2 lakh crore of toxic assets that can come under the bad bank which the private sector can manage for fees.

The current plan

Nine banks including the State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) and two non-bank lenders are likely to put in Rs 7,000 crore jointly as initial capital in the proposed bad bank that aims to help extract funds stuck in non-performing loans.

Canara Bank, Union Bank of India and Bank of India will join their larger state-run peers as investors in the bad bank along with two state-run financiers of power projects-Power Finance Corp (PFC) and Rural Electrification Corp (REC). All these 11 entities will own an equal stake in the proposed bad bank with little over 9% equity each.

ICICI Bank, Axis Bank and Life Insurance Corp of India (LIC)-owned IDBI Bank are also among the shareholders.

Assets

Lenders have identified about Rs 2 lakh crore of bad loans for which they expect Rs 40,000-50,000 crore. These assets will be transferred to the new ARC at 15% upfront cash, about the level of capital being infused into the company.



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HDFC Bank launches SmartUp Unnati for women entrepreneurs, BFSI News, ET BFSI

Banking & Finance

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HDFC Bank, has launched SmartUp Unnati on International Women’ Day, a dedicated programme for mentoring women entrepreneurs by women leaders at the bank. Over the next one year senior women leaders at HDFC Bank with expertise spanning domains will mentor women entrepreneurs in helping them achieve their goals.

This programme is available only to existing customers and will initially target more than 3,000 women entrepreneurs associated with the Bank’s SmartUp programme.

Smita Bhagat, Country Head, Government & Institutional Business, E-commerce and Start-up Banking, HDFC Bank said, “In the start-up ecosystem, women entrepreneurs are often faced with challenges unique to them. We believe HDFC Bank’s Smartup Unnati is the perfect platform for them to benefit from the experience of our women leaders.

She added, “It will provide them access to mentorship, expand their vision, and enable them to scale up their businesses by widening their horizons. This is a programme by women for women.”

Under Smartup Unnati, senior women executive leaders’ will act as a sounding board for women entrepreneurs as they undertake building diverse and innovative businesses.



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SBI vs Axis vs HDFC vs ICICI: Latest Interest Rates On Fixed Deposit Compared

Personal Finance

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SBI Fixed Deposit

The tenure of SBI FD ranges from seven days to ten years. For general customers, SBI FD interest rates range from 2.9 per cent to 5.4 per cent. These rates are in effect from 8 January 2021.

Tenors ROI in % for general public ROI in % for senior citizens
7 days to 45 days 2.9 3.4
46 days to 179 days 3.9 4.4
180 days to 210 days 4.4 4.9
211 days to less than 1 year 4.4 4.9
1 year to less than 2 year 5 5.5
2 years to less than 3 years 5.1 5.6
3 years to less than 5 years 5.3 5.8
5 years and up to 10 years 5.4 6.2

Axis Bank Fixed Deposit

Axis Bank Fixed Deposit

The interest rate on an Axis Bank FD with a term ranging from 7 days to 12 months is 2.50 per cent per annum to 5.15 per cent per annum. The tenure of medium-term fixed deposits ranges from more than one year to less than five years. The bank provides interest on these deposits in the range of 5.15 per cent to 5.40 per cent per year. These interest rates of Axis Bank are in effect from January 1, 2021.

Tenure ROI in % for general public ROI in % for senior citizens
7 days to 14 days 2.5 2.5
15 days to 29 days 2.5 2.5
30 days to 45 days 3 3
46 days to 60 days 3 3
61 days < 3 months 3 3
3 months < 4 months 3.5 3.5
4 months < 5 months 3.5 3.5
5 months < 6 months 3.5 3.5
6 months < 7 months 4.4 4.65
7 months < 8 months 4.4 4.65
8 months < 9 months 4.4 4.65
9 months < 10 months 4.4 4.65
10 months < 11 months 4.4 4.65
11 months < 11 months 25 days 4.4 4.65
11 months 25 days < 1 year 5.15 5.4
1 year < 1 year 5 days 5.15 5.8
1 year 5 days < 1 year 11 days 5.1 5.75
1 year 11 days < 1 year 25 days 5.1 5.75
1 year 25 days < 13 months 5.1 5.75
13 months < 14 months 5.1 5.75
14 months < 15 months 5.1 5.75
15 months < 16 months 5.1 5.75
16 months < 17 months 5.1 5.75
17 months < 18 months 5.1 5.75
18 Months < 2 years 5.25 5.9
2 years < 30 months 5.4 6.05
30 months < 3 years 5.4 5.9
3 years < 5 years 5.4 5.9
5 years to 10 years 5.5 6

HDFC Bank Fixed Deposit

HDFC Bank Fixed Deposit

Customers can choose from a fixed deposit term of 7 days to 10 years with HDFC Bank. For deposits less than Rs. 2 crore, rates vary from 2.50 per cent to 5.50 per cent for the specified tenure. Senior citizens’ rates are capped at 3% to 6.25 per cent for the same tenure. The below-listed FD rates of HDFC Bank are in effect from 13th Nov 2020.

Tenure ROI for the general public ROI for senior citizens
7 – 14 days 2.50% 3.00%
15 – 29 days 2.50% 3.00%
30 – 45 days 3.00% 3.50%
46 – 60 days 3.00% 3.50%
61 – 90 days 3.00% 3.50%
91 days – 6 months 3.50% 4.00%
6 months 1 day – 9 months 4.40% 4.90%
9 months 1 day < 1 Year 4.40% 4.90%
1 Year 4.90% 5.40%
1 year 1 day – 2 years 4.90% 5.40%
2 years 1 day – 3 years 5.15% 5.65%
3 year 1 day- 5 years 5.30% 5.80%
5 years 1 day – 10 years 5.50% 6.25%

ICICI Bank Fixed Deposit

ICICI Bank Fixed Deposit

Fixed Deposits from ICICI Bank come in a variety of tenures. The periods vary from seven days to ten years. For the same span, the general public’s FD rates are capped at 2.5 per cent to 5.35 per cent. Senior citizens, on the other hand, have interest rates set at 3.00 per cent to 5.85 per cent respectively. ICICI Bank FD rates are in effect from Oct 21.2020.

Tenure ROI for the general public ROI for senior citizens
7 days to 14 days 2.50% 3.00%
15 days to 29 days 2.50% 3.00%
30 days to 45 days 3.00% 3.50%
46 days to 60 days 3.00% 3.50%
61 days to 90 days 3.00% 3.50%
91 days to 120 days 3.50% 4.00%
121 days to 184 days 3.50% 4.00%
185 days to 210 days 4.40% 4.90%
211 days to 270 days 4.40% 4.90%
271 days to 289 days 4.40% 4.90%
290 days to less than 1 year 4.40% 4.90%
1 year to 389 days 4.90% 5.40%
390 days to < 18 months 4.90% 5.40%
18 months days to 2 years 5.00% 5.50%
2 years 1 day to 3 years 5.15% 5.65%
3 years 1 day to 5 years 5.35% 5.85%
5 years 1 day to 10 years 5.50% 6.30%
5 Years Tax-saving FD 5.35% 5.85%



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LIC holds the key in Govt’s IDBI Bank stake sale

Banking & Finance

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Will the Life Insurance Corporation of India (LIC) sell a portion of its shares in IDBI Bank, just so that the Government can complete strategic disinvestment of its stake in the Bank in FY22?

Left to its own devices, the Corporation may not want to do it.

Reason: the current market price of IDBI Bank is much lower than the price LIC paid in FY2019 to up its stake in the Bank from 10.82 per cent to 51 per cent.

Also read: LIC to sell stake in IDBI Bank to ease process of disinvestment

LIC hiked its stake in IDBI Bank in FY2019 in three tranches — at ₹61.73 per share via preferential allotment in October 2018 and ₹60.73 per share via preferential allotment in December 2018 as well as in January 2019. IDBI Bank’s shares closed at ₹36.30 apiece on BSE last Friday.

In the last 14 months or so, IDBI Bank’s market price has been lower than the price LIC paid to increase its stake in the Bank.

The state-owned life insurance behemoth invested a whopping ₹21,624 crore (of policy holders’ money) for hiking its shareholding in the Bank. So, it will definitely want a good return on this investment.

Being a public financial institution, the Corporation’s investments are under the scrutiny of lawmakers. If a sale happens below the acquisition price, it will be frowned upon by the stakeholders.

As at December-end 2020, LIC and the Government held 49.24 per cent and 45.48 per cent stake, respectively, in IDBI Bank.

Controlling stake

The Government is planning to completely divest its stake in IDBI Bank to a strategic investor. But the investor may want to hold more than 51 per cent stake (higher than LIC’s stake) in the Bank. So, the only way this can happen is if the Corporation sells a portion of its stake to the investor.

Among the synergies IDBI Bank has achieved with LIC include premium collection (which gives the Bank float money), sale of insurance products (fetches fee income), appointment of LICHFL-Financial Service Ltd (LICHFL-FSL) as corporate direct selling agent for sourcing of MSME and agriculture loans and select structured retail assets (auto, personal & education Loan).

Given that IDBI Bank is reaping the benefit of its synergy with LIC, the new investor may want to continue this mutual synergy which has created a single window for customers to avail banking and insurance services.

Wiggle room

LIC may get wiggle room to pare its stake in IDBI Bank once the Bank complies with the profitability criteria (Return on Assets/RoA) to come out of Prompt Corrective Action (PCA). The Reserve Bank of India invoked PCA against IDBI Bank in 2017 in view of high non-performing assets and negative return on assets.

Under PCA, a bank’s branch expansion is restricted and lending is narrowed to relatively less risky segments to nurse it back to health.

Also read: IDBI Bank back in black, posts ₹378-cr net profit in Q3

The Corporation may be banking on a re-rating of the Bank’s stock, once the PCA tag is withdrawn, to support the Government’s strategic disinvestment in IDBI Bank.

In a way, LIC is treading on eggshells vis-a-vis its investment in IDBI Bank.

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Women catching up on financial awareness…

Banking & Finance

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Women have become more aware financially and are taking out more loans but continue to lag behind men in terms of both savings and investments, as per data with several leading firms.

According to TransUnion Cibil, over the last six years, the share of women borrowers grew to about 28 per cent in September 2020 from 23 per cent in September 2014, in an indication of increasing inclusion of women in the country’s credit market.

There were 4.75 crore women borrowers by September last year, with a marked preference in demand for personal loans and consumer durable loans. Data from earlier years (2014, 2015 and 2016) shows that home loans were highest in demand for women consumers.

Data from CRIF Highmark also revealed that men outweigh women in terms of taking bank loans but surprisingly, the average home loan ticket size for women borrowers is higher than that for men.

“Size of home loans borrowed by women is 13 per cent higher than those borrowed by men,” it said. The average home loan ticket size for women was higher at ₹16.69 lakh (₹16.38 lakh as of December-end 2019) against ₹14.71 lakh (₹14.45 lakh) for men.

According to a survey by ANAROCK, real estate was the preferred investment asset for 62 per cent of the women while 54 per cent men chose it over the stock market, fixed deposits and gold

Insurance

Women also seem to have realised the importance of insurance, largely due to the Covid-19 pandemic but they continue to lag behind men.

Key findings by Max Life Insurance relating to urban Indian women’s financial protection revealed that urban Indian working women have become more financially resilient than men in the backdrop of the pandemic.

“While working women’s knowledge index (the degree to which they are aware about life insurance products) stood at 55 in comparison to 57 for working men, it improved by an impressive 11 points in comparison to last year,” said the survey, “Max Life India Protection Quotient 3.0,” which was done in partnership with Kantar.

Similarly, a survey conducted by Reliance General Insurance by Nielsen revealed that 57 per cent of the current women policies holders have purchased the policy in the last one year since the pandemic started.

However, only 43 per cent of women are involved in decision making for health insurance, but not on their own.

Further, 98 per cent of the women surveyed believe that there should be more women health centric add-ons in the health insurance such as menstruation/hormonal issues, PCOD treatment, mental illness related to postpartum syndrome and osteoporosis treatment.

Cryptocurrency

Even in terms of newer investment classes like cryptocurrencies, the participation of women is lower compared to men.

According to CoinDCX, women account for 20 per cent of its total customer base in 2021, slightly higher than 15 per cent last year.

According to Zebpay, about 10 per cent of investors on its platform are women. “The average ticket size for women investors was ₹3 lakh for the period of March to August 2020 which increased to ₹5.7 lakh from September to February, 2021,” it said.

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Reserve Bank of India – Press Releases

Press Releases

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(Amount in ₹ crore, Rate in Per cent)
  Volume
(One Leg)		 Weighted
Average Rate 		Range
A. Overnight Segment (I+II+III+IV) 11,040.80 0.84 0.01-3.35
     I. Call Money 357.80 2.64 2.55-3.00
     II. Triparty Repo 8,993.00 0.30 0.01-3.30
     III. Market Repo 0.00   –
     IV. Repo in Corporate Bond 1,690.00 3.35 3.35-3.35
B. Term Segment      
     I. Notice Money** 7,281.19 3.18 1.90-3.45
     II. Term Money@@ 693.00 – 3.25-3.60
     III. Triparty Repo 3,09,784.50 3.23 3.15-3.44
     IV. Market Repo 1,03,461.09 3.03 0.01-3.40
     V. Repo in Corporate Bond 45.00 5.35 5.35-5.35
  Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate
C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)
I. Today’s Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Fri, 05/03/2021 3 Mon, 08/03/2021 4,87,208.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo – – – – –
3. MSF Fri, 05/03/2021 3 Mon, 08/03/2021 31.00 4.25
4. Long-Term Repo Operations –   –   –
5. Targeted Long Term Repo Operations – – – – –
6. Targeted Long Term Repo Operations 2.0 – – – – –
7. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -4,87,177.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 26/02/2021 14 Fri, 12/03/2021 2,00,010.00 3.50
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF          
4. Long-Term Repo Operations# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15
  Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15
  Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15
  Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15
5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40
  Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40
  Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40
  Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40
6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40
D. Standing Liquidity Facility (SLF) Availed from RBI$       32,842.06  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -90,085.94  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -5,77,262.94  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 05/03/2021 5,10,330.35  
     (ii) Average daily cash reserve requirement for the fortnight ending 12/03/2021 4,49,720.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 05/03/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 12/02/2021 8,49,099.00  
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
– Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.
# As per the Press Release No. 2020-2021/287 dated September 04, 2020.
^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
Ajit Prasad
Director   
Press Release : 2020-2021/1208

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