Category: RBI News

Reserve Bank of India – Press Releases

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The 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 May 19, 2021
(Wednesday)		 May 20, 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, May 19, 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, May 20, 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: 2021-2022/214

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Reserve Bank of India – Press Releases

Press Releases

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The following State Governments have offered to sell securities by way of an auction, for an aggregate amount of ₹10,500 Cr. (Face Value).

Sr. No. State Amount to be raised
(₹ Cr)		 Additional Borrowing (Greenshoe) Option
(₹ Cr)		 Tenure
(Yrs)		 Type of Auction
1. Andhra Pradesh 1000 – 14 Yield
1000 – 15 Yield
2. Haryana 1500 – 11 Yield
3. Maharashtra 1000 500 11 Yield
1000 – 12 Yield
4. Tamil Nadu 1500 – 30 Yield
1500 – 35 Yield
5. Telangana 2000 – 20 Yield
  Total 10500      

The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 18, 2021 (Tuesday). The Government Stock up to 10% of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 18, 2021 (Tuesday). The non-competitive bids should be submitted between 10.30 A.M. and 11.00 A.M. and the competitive bids should be submitted between 10.30 A.M. and 11.30 A.M.

In case of technical difficulties, Core Banking Operations Team (email; Phone no: 022-27595666, 022-27595415, 022-27523516) may be contacted.

For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

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.

The yield percent per annum expected by the bidder should be expressed up to two decimal points. An investor can submit more than one competitive bid at same/different rates of yield or prices in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a bidder should not exceed the notified amount for each State.

The Reserve Bank of India will determine the maximum yield /minimum price at which bids will be accepted. Securities will be issued for a minimum nominal amount of ₹10,000.00 and multiples of ₹10,000.00 thereafter.

The results of the auction will be announced on May 18, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on May 19, 2021 (Wednesday) at Mumbai and at respective Regional Offices of RBI.

The State Government Stocks will bear interest at the rates determined by RBI at the auctions. For the new securities, interest will be paid half yearly on November 19 and May 19 of each year till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007.

The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility.

Ajit Prasad
Director   

Press Release: 2021-2022/213

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Reserve Bank of India – Press Releases

Press Releases

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The results of the auctions of New Government Stock 2023 (New Issue), 5.85% Government Stock 2030 (Re-Issue), 6.76% Government Stock 2061 (Re-Issue) held on May 14, 2021 are:

Auction Results New GS 2023* 5.85% GS 2030 6.76% GS 2061**
I. Notified Amount ₹ 3000 Crore ₹ 14000 Crore ₹ 9000 Crore
II. Underwriting Notified Amount ₹ 3000 Crore ₹ 14000 Crore ₹ 9000 Crore
III. Competitive Bids Received      
(i) Number 118 272 143
(ii) Amount ₹ 20306.5 Crore ₹ 35467 Crore ₹ 20360.40 Crore
IV. Cut-off price / Yield   0 98.44
4.26% (YTM: 0%) (YTM: 6.8740%)
V. Competitive Bids Accepted      
(i) Number 13 0 93
(ii) Amount ₹ 3085 Crore ₹ 0 Crore ₹ 9110.4 Crore
VI. Partial Allotment Percentage of Competitive Bids 0.00%
(0 Bids)		 0.00%
(0 Bids)		 0%
(0 Bids)
VII. Weighted Average Price/Yield 100.02 0 98.93
(WAY: 4.2496%) (WAY: 0.0000%) (WAY: 6.8375%)
VIII. Non-Competitive Bids Received      
(i) Number 3 4 4
(ii) Amount ₹ 2.268 Crore ₹ 8.124 Crore ₹ 7.563 Crore
IX. Non-Competitive Bids Accepted      
(i) Number 3 0 4
(ii) Amount ₹ 2.268 Crore ₹ 0 Crore ₹ 7.563 Crore
(iii) Partial Allotment Percentage 100% (0 Bids) 100% (0 Bids) 100% (0 Bids)
X. Amount of Underwriting accepted from primary dealers ₹ 3000 Crore ₹ 14000 Crore ₹ 9000 Crore
XI. Devolvement on Primary Dealers 0 0 0
* Green shoe amount of ₹87.268 crore has been accepted
** Green shoe amount of ₹117.963 crore has been accepted

Ajit Prasad
Director   

Press Release: 2021-2022/210

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Reserve Bank of India – Notifications

Notifications

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RBI/2021-22/39
IDMD.CDD.No.45187/14.04.050/2021-22

May 13, 2021

The Chairman & Managing Director
All Scheduled Commercial Banks,
(Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India Ltd.(SHCIL)
National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd.

Dear Sir/Madam,

Sovereign Gold Bond Scheme (SGB) 2021-22- Series I/II/III/IV/V/VI

Government of India has vide its Notification No F.No4.(4)-B (W&M)/2021 dated May 12, 2021 has announced the Sovereign Gold Bond Scheme 2020-21, Series I, II, III, IV, V and VI. Under the scheme there will be a distinct series (starting from Series I) for every tranche. The terms and conditions of the issuance of the Bonds shall be as per the above notification.

2. Date of Issue

The date of issuances shall be as per the details given in the calendar below

S. No. Tranche Date of Subscription Date of Issuance
1. 2021-22 Series I May 17–21, 2021 May 25, 2021
2. 2021-22 Series II May 24–28, 2021 June 01, 2021
3. 2021-22 Series III May 31-June 04, 2021 June 08, 2021
4. 2021-22 Series IV July 12- 16, 2021 July 20, 2021
5. 2021-22 Series V August 09-13, 2021 August 17, 2021
6. 2021-22 Series VI August 30- September 03, 2021 September 07, 2021

3. Period of subscription.

The Subscription of the Gold Bonds under this Scheme shall be open (Monday to Friday) on the dates specified above, provided that the Central Government may, with prior notice, close the Scheme at any time before the period specified above.

4. Application

Subscription for the Bonds may be made in the prescribed application form Form A or in any other form as near as thereto, stating clearly the grams (in units) of gold and the full name and address of the applicant. Every application must be accompanied by the ‘PAN details’ issued by the Income Tax Department to the investor(s). Scheduled Commercial Banks (excluding RRBs, Small Finance Banks and Payment Banks), designated Post Offices (as may be notified), Stock Holding Corporation of India Ltd (SHCIL) and recognized stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Ltd. are authorized to receive applications for the Bonds either directly or through agents and render all services to the customers The Receiving Office shall issue an acknowledgment receipt in Form B’ to the applicant.

5. In addition to receipt of application, the Receiving Offices are also entrusted with the responsibility of providing service to the investors of the SGB and are required to be guided by rules and regulations issued by RBI in this regard from time to time. With a view to facilitate availability of all current operative instructions regarding servicing of these bonds at one place, RBI has issued consolidated procedural/operational guidelines vide circular IDMD.CDD.2730/14.04.050/2019-20, dated April 13, 2020. and the same is available on RBI website. The Receiving Offices shall be guided by these instructions while dealing with all the procedural aspects and providing service to the investors.

6. All other terms and conditions specified in the notification of Government of India in the Ministry of Finance (Department of Economic Affairs) vide Notification F.No.4(2)-W&M/2018 dated March 27, 2018 shall apply to the Bonds.

Yours faithfully,

(R. Gurumurthy)
Chief General Manager

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Reserve Bank of India – Press Releases

Press Releases

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The Reserve Bank of India releases monthly data on India’s international trade in services with a lag of around 45 days.

The value of exports and imports of services during the month of March 2021 are given in the following Table:

Table: International Trade in Services
(US$ Million)
Month Receipts (Exports) Payments (Imports)
January – 2021 17,076
(-10.1)		 10,098
(-15.9)
February – 2021 17,545
(-1.0)		 10,613
(-4.1)
March -2021 20,451
(12.6)		 12,537
(12.8)
Notes: (i) Data are provisional.
(ii) Figures in brackets indicate growth rates based on provisional data.

Monthly data on services are provisional and would undergo revision when the Balance of Payments (BoP) data are released on a quarterly basis.

Ajit Prasad
Director   

Press Release: 2021-2022/211

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Reserve Bank of India – Press Releases

Press Releases

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1. Reserve Bank of India – Liabilities and Assets*
(₹ Crore)
Item 2020 2021 Variation
May 8 Apr. 30 May 7 Week Year
1 2 3 4 5
4 Loans and Advances          
4.1 Central Government 134970 – – – -134970
4.2 State Governments 5582 4506 7619 3114 2037
* Data are provisional.

2. Foreign Exchange Reserves
Item As on May 7, 2021 Variation over
Week End-March 2021 Year
₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn.
1 2 3 4 5 6 7 8
1 Total Reserves 4333343 589465 -22608 1444 114390 12481 666769 104152
1.1 Foreign Currency Assets 4017335 546493 -27802 434 93167 9800 636031 98945
1.2 Gold 268166 36480 5456 1016 20443 2599 24205 4189
1.3 SDRs 11052 1503 -117 -4 188 18 303 81
1.4 Reserve Position in the IMF 36791 4989 -146 -1 593 64 6230 938
*Difference, if any, is due to rounding off

4. Scheduled Commercial Banks – Business in India
(₹ Crore)
Item Outstanding as on Apr. 23, 2021 Variation over
Fortnight Financial year so far Year-on-year
2020-21 2021-22 2020 2021
1 2 3 4 5 6
2 Liabilities to Others            
2.1 Aggregate Deposits 15134326 -77127 155690 20798 1239313 1411144
2.1a Growth (Per cent)   –0.5 1.1 0.1 9.9 10.3
2.1.1 Demand 1727354 -15510 -161558 -133854 103722 271910
2.1.2 Time 13406972 -61617 317248 154652 1135590 1139234
2.2 Borrowings 236480 -6517 -7980 -7545 -68003 -64978
2.3 Other Demand and Time Liabilities 565467 -2011 -82056 -91147 33724 43847
7 Bank Credit 10860425 -28039 -97445 -89087 652470 587009
7.1a Growth (Per cent)   –0.3 –0.9 –0.8 6.8 5.7
7a.1 Food Credit 58335 8636 879 -2919 9482 5691
7a.2 Non-food credit 10802090 -36674 -98324 -86167 642988 581318

6. Money Stock: Components and Sources
(₹ Crore)
Item Outstanding as on Variation over
2021 Fortnight Financial Year so far Year-on-Year
2020-21 2021-22 2020 2021
Mar. 26 Apr. 23 Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 18773048 18840238 -63748 -0.3 234169 1.4 67190 0.4 1655529 10.8 1806105 10.6
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 2757754 2803860 15884 0.6 74917 3.2 46106 1.7 332598 15.9 379195 15.6
1.2 Demand Deposits with Banks 1984261 1851002 -15962 -0.9 -155670 -9.0 -133259 –6.7 115583 7.9 268979 17.0
1.3 Time Deposits with Banks 13983686 14139867 -62887 -0.4 313859 2.5 156182 1.1 1195437 10.1 1151992 8.9
1.4 ‘Other’ Deposits with Reserve Bank 47347 45509 -783 -1.7 1063 2.8 -1839 –3.9 11910 43.1 5939 15.0
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 5692569 5871511 -174281 -2.9 455609 9.2 178942 3.1 913001 20.3 455540 8.4
2.1.1 Reserve Bank 982063 1144052 -101991   222325   161989   371708   -70465  
2.1.2 Other Banks 4710506 4727459 -72289 -1.5 233284 5.9 16953 0.4 541293 14.8 526005 12.5
2.2 Bank Credit to Commercial Sector 11610050 11522232 -29122 -0.3 -115439 -1.0 -87819 –0.8 696394 6.8 599026 5.5
2.2.1 Reserve Bank 8524 8672 –   -7040   147   -2555   2546  
2.2.2 Other Banks 11601526 11513560 -29122 -0.3 -108399 -1.0 -87966 –0.8 698949 6.8 596480 5.5

8. Liquidity Operations by RBI
(₹ Crore)
Date Liquidity Adjustment Facility MSF* Standing Liquidity Facilities Market Stabilisation Scheme OMO (Outright) Long Term Repo Operations & Targeted Long Term Repo Operations# Special Liquidity Facility for Mutual Funds Special Liquidity Scheme for NBFCs/ HFCs** Net Injection (+)/ Absorption (-) (1+3+5+6+9+
10+11+12+13-
2-4-7-8)
Repo Reverse Repo* Variable Rate Repo Variable Rate Reverse Repo Sale Purchase
1 2 3 4 5 6 7 8 9 10 11 12 13 14
May 3, 2021 – 440115 – – 10 –3500 – – 515 – – – – -443090
May 4, 2021 – 457681 – – 143 –6000 – – 3015 – – – – -460523
May 5, 2021 – 440936 – – 33 –5000 – – – – – – – -445903
May 6, 2021 – 369084 – – 0 –2628 – – – – – – – -371712
May 7, 2021 – 362190 – 200020 0 – – 10000 10000 – – – – -562210
May 8, 2021 – 13516 – – 33 – – – – – – – – -13483
May 9, 2021 – 3769 – – 25 – – – – – – – – -3744
*Includes additional Reverse Repo and additional MSF operations (for the period December 16, 2019 to February 13, 2020)
#Includes Targeted Long Term Repo Operations (TLTRO), Targeted Long Term Repo Operations 2.0 (TLTRO 2.0) and On Tap Targeted Long Term Repo Operations. Negative (-) sign indicates repayments done by Banks.
**As per RBI Notification No. 2020-21/01 dated July 01, 2020. Negative (-) sign indicates maturity proceeds received for RBI’s investment in the Special Liquidity Scheme.
& Negative (-) sign indicates repayments done by Banks.

The above information can be accessed on Internet at https://wss.rbi.org.in/

The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762).

Time series data are available at https://dbie.rbi.org.in

Ajit Prasad
Director   

Press Release: 2021-2022/209

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Reserve Bank of India – Press Releases

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    New GS 2023* 5.85% GS 2030 6.76% GS 2061**
I. Notified Amount ₹3,000 cr ₹14,000 cr ₹9,000 cr
II. Cut off Price / Implicit Yield at cut-off 4.26% NA 98.44/6.8740%
III. Amount accepted in the auction ₹3,087.268 cr Nil ₹9,117.963 cr
IV. Devolvement on Primary Dealers Nil Nil Nil
* Greenshoe amount of ₹87.268 crore has been accepted
** Greenshoe amount of ₹117.963 crore has been accepted

Ajit Prasad
Director   

Press Release: 2021-2022/208

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Reserve Bank of India – Tenders

Tenders

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A reference is invited to the advertisement – “Empanelment of Vendors for Supply of Computer Hardware/ Software and Peripherals at Reserve Bank of India, Kanpur” was published in the newspapers and on RBI website on March 25, 2021 and the corrigendum published on the RBI website on April 19, 2021.

2. In this regard, it has been decided to further extend the last date for submission of applications from May 17, 2021 to June 21, 2021 till 12:00 PM. Tender will be opened on June 21, 2021 at 12:30 PM. Applications, complete in all respects, may be sent through post or e-mail (ditkanpur@rbi.org.in).

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

Regional Director
Reserve Bank of India
Kanpur

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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 Thu, 13/05/2021 1 Fri, 14/05/2021 70,320.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo – – – – –
3. MSF Thu, 13/05/2021 1 Fri, 14/05/2021 9,544.00 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 (-)]*		       -60,776.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Wed, 12/05/2021 2 Fri, 14/05/2021 3,39,428.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 07/05/2021 14 Fri, 21/05/2021 2,00,020.00 3.46
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Wed, 12/05/2021 2 Fri, 14/05/2021 58.00 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
D. Standing Liquidity Facility (SLF) Availed from RBI$       5,573.71  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -4,51,734.29  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -5,12,510.29  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 13/05/2021 5,14,012.95  
     (ii) Average daily cash reserve requirement for the fortnight ending 21/05/2021 5,34,650.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 12/05/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 23/04/2021 7,26,433.00  
@ 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.
Ajit Prasad
Director   
Press Release: 2021-2022/207

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