Reserve Bank of India – Press Releases

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The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0), initially for a period of one year from May 01, 2021, vide press release dated April 15, 2021.

2. A Group of Advisors (GoA) to assist RRA was also constituted on May 07, 2021. To undertake its preparatory work, the Group has invited feedback and suggestions from all regulated entities, industry bodies and other stakeholders. The last date for sending the suggestion and feedback to the Group is June 15, 2021.

3. Keeping in view the COVID-19 related disruptions and based on the requests received from stakeholders, it has been decided to extend the timeline for submission of feedback and suggestions to the Group till June 30, 2021.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/359

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Reserve Bank of India – Tenders

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Regional Director, Reserve Bank of India, Bengaluru invites e-Tender through MSTC for Renovation of Ladies Washroom in 1st and 3rd Floor (4 No’s) at Main Office Building Premises, RBI, Bengaluru. The e-Tender along with the detailed tender notice is available at MSTC website https://www.mstcecommerce.com/eprochome/rbi and the website of the RBI at https://www.rbi.org.in under the menu “Tenders”.

2. All empanelled bidders must register themselves with MSTC through the above referred website to participate in the e-Tendering process.

3. The estimated cost of the work is ₹9.42 lakh (approx.), however the actual amount may vary.

4. The schedule for the e-Tendering process is as under:

A E-Tender No. RBI/Bengaluru/Estate/514/2020-21/ET/801
B Mode of Tender e-Procurement System
(Online Part I – Techno-Commercial Bid and
Part II – Price Bid through
www.mstcecommerce.com/eprochome/rbi
)
C Date of NIT available to parties to download 10.00 am of June 14, 2021
D Earnest Money Deposit Rs.18,840/- from each bidder in the from Demand Draft / Bank Guarantee / NEFT to the Bank (details under para “bidding in e-tender) to be submitted by the successful bidder
E Start Bid Date 11.00 am on June 14, 2021
F Last Date for submission of the tender 3.00 pm on July 16, 2021
G Date of opening of Part I (Technical Bid) of tender 3.30 pm on July 16, 2021

5. The Part-II i.e. price bid will be opened on the same day or at a later date as intimated by the Bank in respect of only those contractors/bidders who satisfies all criteria stipulated in Part-I. The Bank reserves the right to accept or reject any or all e-Tenders without assigning any reasons thereof.

Note: All the tenderers may please note that any amendments / corrigendum to the e-Tender, if issued in future, will only be notified on the RBI and MSTC Website as given above and will not be published in the newspaper.

Officer-in-Charge
Bangalore

June 14, 2021

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Reserve Bank of India – 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, 13/06/2021 1 Mon, 14/06/2021 1,699.00 3.35
     (iii) Special Reverse Repo~          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo
3. MSF Sun, 13/06/2021 1 Mon, 14/06/2021 111.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£          
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*
      -1,588.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Sat, 12/06/2021 2 Mon, 14/06/2021 2,304.00 3.35
  Fri, 11/06/2021 3 Mon, 14/06/2021 3,62,304.00 3.35
     (iii) Special Reverse Repo~ Fri, 04/06/2021 14 Fri, 18/06/2021 150.00 3.75
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 04/06/2021 14 Fri, 18/06/2021 2,00,029.00 3.46
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Sat, 12/06/2021 2 Mon, 14/06/2021 11.00 4.25
  Fri, 11/06/2021 3 Mon, 14/06/2021 27.00 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
7. On Tap Targeted Long Term Repo Operations Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00
8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00
D. Standing Liquidity Facility (SLF) Availed from RBI$       1,662.00  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -4,80,605.00  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -4,82,193.00  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 13/06/2021 6,12,178.96  
  12/06/2021 6,13,571.81  
     (ii) Average daily cash reserve requirement for the fortnight ending 18/06/2021 6,11,914.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 11/06/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 21/05/2021 8,43,197.00  
@ 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. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020 and Press Release No. 2020-2021/1057 dated February 05, 2021.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
£ As per the Press Release No. 2021-2022/181 dated May 07, 2021.
~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.
Ajit Prasad
Director   
Press Release: 2021-2022/358

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Reserve Bank of India – Notifications

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RBI/2021-22/54
CO.DPSS.POLC.No.S188/02-27-020/2021-2022

June 14, 2021

The Chairman and Managing Director / Chief Executive Officer
Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks / Payment Banks / Small Finance Banks /
NPCI Bharat BillPay Ltd. / Bharat Bill Payment System Providers /
System Participants and prospective Bharat Bill Payment Operating Units

Madam / Dear Sir,

Bharat Bill Payment System – Addition of Biller Category

This has reference to the guidelines on Bharat Bill Payment System (BBPS) issued by the Reserve Bank of India vide circular DPSS.CO.PD.No.940/02.27.020/2014-2015 on November 28, 2014. BBPS, started as an interoperable platform for repetitive bill payments, which covered bills of five categories viz. Direct to Home (DTH), Electricity, Gas, Telecom and Water. The system provided standardised bill payment experience, centralised customer grievance redressal mechanism, prescribed customer convenience fee and ensured availability of a bouquet of anytime, anywhere digital payment options. The scope and coverage of BBPS was expanded vide circular DPSS.CO.PD.No.605/02.27.020/2019-20 dated September 16, 2019 to include all categories of billers which raise recurring bills (except mobile prepaid recharges) as eligible participants, on a voluntary basis.

2. With consistent growth in different biller categories and to facilitate mobile prepaid customers with more options to recharge, it has been decided to permit ‘mobile prepaid recharges’ as a biller category in BBPS, on a voluntary basis. This will be implemented on or before August 31, 2021.

3. This directive is issued under Section 10 (2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

Yours faithfully,

(P. Vasudevan)
Chief General Manager

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Reserve Bank of India – 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) 3,67,237.89 3.26 1.90-5.30
     I. Call Money 6,926.87 3.10 1.90-3.40
     II. Triparty Repo 2,52,859.75 3.26 2.92-3.37
     III. Market Repo 1,07,432.27 3.29 2.00-3.40
     IV. Repo in Corporate Bond 19.00 5.30 5.30-5.30
B. Term Segment      
     I. Notice Money** 158.11 3.02 2.75-3.25
     II. Term Money@@ 669.50 3.15-3.70
     III. Triparty Repo 385.10 3.25 3.25-3.26
     IV. Market Repo 509.86 3.19 3.15-3.45
     V. Repo in Corporate Bond 1,000.00 3.45 3.45-3.45
  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, 11/06/2021 3 Mon, 14/06/2021 3,62,304.00 3.35
     (iii) Special Reverse Repo~          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo
3. MSF Fri, 11/06/2021 3 Mon, 14/06/2021 27.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£          
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*
      -3,62,277.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo          
     (iii) Special Reverse Repo~ Fri, 04/06/2021 14 Fri, 18/06/2021 150.00 3.75
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 04/06/2021 14 Fri, 18/06/2021 2,00,029.00 3.46
  (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
7. On Tap Targeted Long Term Repo Operations Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00
8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00
D. Standing Liquidity Facility (SLF) Availed from RBI$       1,662.00  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -1,16,035.00  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -4,78,312.00  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 11/06/2021 6,15,890.88  
     (ii) Average daily cash reserve requirement for the fortnight ending 18/06/2021 6,11,914.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 11/06/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 21/05/2021 8,43,197.00  
@ 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. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020 and Press Release No. 2020-2021/1057 dated February 05, 2021.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
£ As per the Press Release No. 2021-2022/181 dated May 07, 2021.
~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.
Ajit Prasad
Director   
Press Release: 2021-2022/357

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Reserve Bank of India – Tenders

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Please refer to the tender notice event No. RBI/Chandigarh/Issue/26/20-21/ET/754 for the subject published on the Bank’s website www.rbi.org.in on May 17, 2021, inviting “e-Tender for transportation of Coins Bags for the period July 01, 2021 to March 31, 2022 at Reserve Bank of India, Chandigarh”.

2. In this connection, it is hereby informed that June 14, 2021 has been declared as public holiday under section 25 of Negotiable Instrument Act, 1881 on account of martyrdom of Sri Guru Arjun Dev Ji. Hence, the date for opening of Part-1 (Technical Bids) for the tender has been changed to June 15, 2021 (Tuesday). The part-1 (Technical Bids) will now be opened at 11.00 AM on June 15, 2021.

All other terms and conditions mentioned in the tender remain unchanged.

Date: 13.06.2021

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Reserve Bank of India – Press Releases

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Today, the Reserve Bank of India releases Volume 41, No.2, 2020 of its Occasional Papers, a research journal containing contributions from its staff. This issue contains four articles and two book reviews.

Articles:

1. Macroeconomic Implications of Bank Capital Regulations

Ranajoy Guha Neogi and Harendra Behera examine the role of regulatory bank capital in influencing credit flows and GDP growth. They find that higher capital tends to lower risk premium and overall cost of liabilities of banks, which in turn helps augment credit growth. Regulatory capital to risk weighted assets ratio (CRAR) is also found to work like a macro-prudential tool as a higher CRAR triggers loan portfolio reallocation in banks away from unsecured high-risk loan towards secured and low risk loans.

2. Education Loan NPAs in Tamil Nadu: Issues and Challenges

In this article, Shromona Ganguly and Deepa S. Raj study the determinants of default in education loans in Tamil Nadu. They use account level data of over two lakh borrowers from two public sector banks and one private sector bank in an attempt to identify significant predictors of default. Empirical analysis suggests that loan accounts with higher interest rate and of lower duration have higher default probability while loans extended to accounts with Aadhar information, collateral backing or some subsidy element have a lower risk of default.

3. An Alternative Measure of Economic Slack to Forecast Core Inflation

Saurabh Sharma and Ipsita Padhi propose an alternative indicator of economic slack using a variety of high frequency indicators. The authors find that the estimated index captures macroeconomic demand conditions efficiently and is also available at a higher frequency as compared to other conventional measures, which are generally calculated by applying statistical filters on the GDP data. In terms of forecasting performance, the estimated index emerges as a better predictor of core inflation than other measures.

4. Long Run Saving – Investment Relationship in India

Bichitrananda Seth, Kunal Priyadarshi and Avdhesh Kumar Shukla revisit the Feldstein-Horioka Puzzle, i.e. close association between domestic savings and investment rates notwithstanding growing openness to cross-border capital flows, which is still observed to hold across advanced economies and emerging markets. The study finds that the association between saving and investment rate weakened after 1991 in India following reforms but has strengthened since the global financial crisis of 2007-08. This may suggest a reduced contribution of foreign inflows in financing investment activity after the global financial crisis. Empirical results of the study indicate that in the event of short-run deviations from the steady-state relationship between domestic savings and investment, the equilibrium is restored in about two years.

Book Reviews:

This issue of the RBI Occasional Papers also contains two book reviews:

1. Rasmi Ranjan Behera reviews the book “Firefighting: The Financial Crisis and its Lessons” written by Ben S. Bernanke, Timothy F. Geithner and Henry M. Paulson, Jr. The book provides an excellent narration of the 2008 global financial crisis and the way it was managed. The authors warn on the certainty of financial crises occurring in the future and offer advice to prepare better by providing stronger emergency time policy tools to the regulators.

2. Priyanka Upreti reviews the book “Agricultural Growth and Rural Poverty Reduction in India” written by Seema Bathla, Pramod Kumar Joshi and Anjani Kumar. The book has measured the relationship between public and private investment in agriculture and assessed the impact on farm productivity, income and poverty alleviation.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/356

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Reserve Bank of India – Annual Report

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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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Reserve Bank of India – Tenders

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Reserve Bank of India, Ahmedabad has placed e-tender for Design, Supply, Installation, Testing and Commissioning (DSITC) of Intelligent Addressable Analogue Fire Alarm System for Bank’s office premises at Riverfront House in Ahmedabad through E-tender No: RBI/Ahmedabad/Ahmedabad/28/20-21/ET/777 on the RBI Website / MSTC portal on May 31, 2021 and the last date for submission of the e-tender is scheduled on June 15, 2021 up to 15.00 hrs.

2. In this context, it is notified that

(A) minimum capacity of loop card has been revised from “150 addressable detectors & 150 addressable devices” to “a total of 250 addressable devices & detectors”. Accordingly, following revisions have been made:

Clause 9.3-B. Main Fire Alarm Control Panel (MFACP) on page no. 82 of the tender stands revised as “……. Fire Alarm panel shall be a multi-loop (exact number of loops as per schedule of quantity) panel and all the loop card should be of same size with a minimum capacity of 250 addressable detectors & devices. ……”.

This revision in minimum capacity of loop card (from 150 addressable detectors + 150 addressable devices to total 250 addressable detectors & devices) shall also be applicable to Item 5 of “Section X: Schedule of Technical Information” and Item 1 of “Bill of Quantities”.

(B) Item 7 of “Bill of Quantities” pertaining to Hooter cum Strobe light stands corrected as “Hooter cum Strobe Light (as per Section IX: Technical Specifications) Supply, Installation, Testing and Commissioning of 80 dB Addressable Hooter cum Strobe Light with control light. The sounder should be wall & ceiling mountable and facilitate selection of one tone from minimum 8 available tone variants. (Rate inclusive of GST, as applicable)”

3. All other conditions of the tender stand unaltered.

4. This corrigendum shall form part of the tender and a duly signed & stamped copy of the same has to be submitted with the tender.

Regional Director
for Gujarat, Daman & Diu and Dadra & Nagar Haveli

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Reserve Bank of India – Press Releases

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Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

Sr. No Treasury Bill Notified Amount
(in ₹ crore)
Auction Date Settlement date
1 91 Days 15,000 June 16, 2021
(Wednesday)
June 17, 2021
(Thursday)
2 182 Days 15,000
3 364 Days 6,000
  Total 36,000    

The sale will be subject to the terms and conditions specified in the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 along with the Amendment Notification No.F.4(2)-W&M/2018 dated April 05, 2018, issued by Government of India, as amended from time to time. State Governments, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard, can participate on non-competitive basis, the allocation for which will be outside the notified amount. Individuals can also participate on non-competitive basis as retail investors. For retail investors, the allocation will be restricted to a maximum of 5 percent of the notified amount.

The auction will be Price based using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India’s Core Banking Solution (E-Kuber) system on Wednesday, June 16, 2021, during the below given timings:

Category Timing
Competitive bids 10:30 am – 11:30 am
Non-Competitive bids 10:30 am – 11:00 am

Results will be announced on the day of the auction.

Payment by successful bidders to be made on Thursday, June 17, 2021.

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595666, 022-27595415, 022-27523516). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Ajit Prasad
Director   

Press Release: 2021-2022/355

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