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Reserve Bank of India – Press Releases

November 16, 2021 root Press Releases

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The Reserve Bank of India (RBl) has imposed, by an order dated November 16, 2021, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Anuradha Urban Co-operative Bank Ltd., Chikhli, Dist. Buldhana, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The inspection report of the bank based on its financial position as on March 31, 2019, revealed, inter alia, that the bank had granted loans to relatives of three of its directors in contravention of/ non-compliance with the directions issued by RBI to Urban Co-operative Banks on Board of Directors and Exposure Norms & Statutory/ Other Restrictions-UCBs. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions.

After considering the bank’s replies, oral submissions made during the personal hearing, RBI came to the conclusion that the aforesaid charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/1206

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Reserve Bank of India – Press Releases

November 16, 2021 root Press Releases

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The Reserve Bank of India (RBl) has imposed, by an order dated November 16, 2021, a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Nagrik Sahakari Bank Maryadit, Durg, Chhattisgarh (the bank) for contravention of/ non-compliance with the directions issued by the RBI to Urban Co-operative Banks on Exposure Norms & Statutory/ Other Restrictions-UCBs and Know Your Customer (KYC). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The inspection report of the bank based on its financial position as on March 31, 2020, revealed, inter alia, that the bank had (i) not adhered to prudential inter-bank (Gross) exposure limit, (ii) not complied with the prudential inter-bank Counter Party limit and (iii) no system in place to identify suspicious transactions in contravention of/ non-compliance with the directions issued by RBI on Exposure Norms & Statutory/ Other Restrictions-UCBs and Know Your Customer (KYC). Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions.

After considering the bank’s replies, RBI came to the conclusion that the aforesaid charges of non-compliance with RBI directions were substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/1205

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Reserve Bank of India – Press Releases

November 16, 2021 root Press Releases

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In terms of GOI Notification F.No. 4(16)-W&M/2016 dated October 20, 2016 (SGB 2016-17, Series III- Issue date November 17, 2016) of Sovereign Gold Bond (SGB) Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Therefore, the forthcoming due date of premature redemption of the above tranche shall be November 17, 2021. Further, the redemption price of SGB shall be based on the simple average closing gold price of 999 purity [published by the India Bullion and Jewellers Association Ltd (IBJA)] of the week (Monday-Friday) preceding the date of redemption.

2. Accordingly, the redemption price for the premature redemption due on November 17, 2021 shall be ₹4860/- (Rupees Four thousand Eight hundred Sixty only) per unit of SGB based on the simple average of closing gold price for the week November 08-12, 2021.

Ajit Prasad
Director (Communications)

Press Release: 2021-2022/1204

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Reserve Bank of India – Notifications

November 16, 2021 root Notifications

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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

November 16, 2021 root Tenders

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Reserve Bank of India (hereinafter referred to as RBI), New Delhi invites e-tender in two parts (part I and II) from the eligible auditor for the above-mentioned work in its Main Office premises located at 6-Sansad Marg, New Delhi – 110001. For details of the tender, please visit “Tenders” section at RBI’s website (https://www.rbi.org.in) and for uploading the tender please visit and register on MSTC website at https://www.mstcecommerce.com. The EMD details for the contract is mentioned under.

Estimated Cost of Audit (Inclusive of GST @18%)	Earnest Money Deposit (2% of Estimated Cost)
₹ 82,600/-	₹ 1,652/-

Please note that further Addendum / Corrigendum will only be published on RBI website.

Regional Director
Reserve Bank of India,
New Delhi

Place: New Delhi
Date: November 16, 2021

1.	Tender name	Electrical Safety Audit in Main Office Buildings of Reserve Bank of India, New Delhi
2.	Mode of Tender	Website through https://www.rbi.org.in
3.	Estimated value of tender (including Taxes)	Rs 82,600 Lakh (Rupees Eighty Two Thousand Six Hundred only)
4.	Uploading the information on Bank Website	November 16, 2021
5.	Earnest Money Deposit (EMD)	₹1,652.00 (Rupees One Thousand Six Hundred Fifty-Two only), by NEFT towards: Beneficiary Name: Reserve Bank of India, New Delhi Beneficiary A/c No: 186003001 IFSC: RBIS0NDPA01 (5th and 10th digits are Zeros)
6.	Last date for submission of EMD	On or before December 08, 2021 (1200 Hrs)
7.	Last date for downloading of Tender	December 08, 2021 (1200 Hrs)
8.	Last date for submission of Tender	December 08, 2021 (1400 Hrs)
9.	Date & Time of opening of Part- I, i.e., Techno Commercial Bid Bid	December 08, 2021 (1500 Hrs);

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Reserve Bank of India – Press Releases

November 16, 2021 root Press Releases

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The Result of the auction of State Development Loans for 06 State Governments held on November 16, 2021.

Table
(Amount in ₹ crore)
	KARNATAKA 2031	KARNATAKA 2023	MADHYA PRADESH 2041	TAMILNADU 2029
Notified Amount	1000	1000	2000	1000
Tenure	10	2	20	8
Competitive Bids Received
(i) No.	175	35	88	122
(ii) Amount	11351	6580	7910.25	8480
Cut-off Yield (%)	6.9	4.74	6.99	6.71
Competitive Bids Accepted
(i) No.	6	4	5	7
(ii) Amount	900	989.807	1948.992	963.88
Partial Allotment Percentage of Competitive Bids
(i) Percentage	81.25	44.9839	61.7815	42.5371
(ii) No.	(5 bids)	(2 bids)	(4 bids)	(2 bids)
Non-Competitive Bids Received
(i) No.	13	4	3	7
(ii) Amount	114.003	10.193	51.008	36.12
Non-Competitive Price (₹)	100.02	100.01	100.01	100.09
Non-Competitive Bids Accepted
(i) No.	13	4	3	7
(ii) Amount	100	10.193	51.008	36.12
Partial Allotment Percentage of Non-Competitive Bids
(i) Percentage	87.717	–	–	–
(ii) No.	(13 bids)	–	–	–
Weighted Average Yield (%)	6.8972	4.7334	6.9887	6.6953
Total Allotment Amount	1000	1000	2000	1000

	TELANGANA 2043	UTTAR PRADESH 2031	WEST BENGAL 2037	Total
Notified Amount	1000	2500	1500	10000
Tenure	22	10	16
Competitive Bids Received
(i) No.	65	156	98	739
(ii) Amount	4700	11475.5	7175	57671.75
Cut-off Yield (%)	6.99	6.93	6.98
Competitive Bids Accepted
(i) No.	2	21	7	52
(ii) Amount	951.729	2287.795	1437.97	9480.173
Partial Allotment Percentage of Competitive Bids
(i) Percentage	63.4486	36.8126	89.754
(ii) No.	(2 bids)	(12 bids)	(6 bids)
Non-Competitive Bids Received
(i) No.	4	14	8	53
(ii) Amount	48.271	212.205	62.03	533.83
Non-Competitive Price (₹)	100	100.06	100.01
Non-Competitive Bids Accepted
(i) No.	4	14	8	53
(ii) Amount	48.271	212.205	62.03	519.827
Partial Allotment Percentage of Non-Competitive Bids
(i) Percentage	–	–	–
(ii) No.	–	–	–
Weighted Average Yield (%)	6.99	6.9215	6.979
Total Allotment Amount	1000	2500	1500	10000

Ajit Prasad
Director (Communications)

Press Release: 2021-2022/1203

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Reserve Bank of India – Press Releases

November 16, 2021 root Press Releases

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The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0) vide press release dated April 15, 2021. The objective of RRA 2.0 is to review the regulatory instructions, removing redundant and duplicate instructions, reduce the compliance burden on Regulated Entities (REs) by streamlining reporting structure, revoking obsolete instructions and wherever possible obviating paper-based submission of returns. It was also envisaged that the RRA will engage internally as well as externally with all regulated entities and other stakeholders to facilitate this process. The RRA has also constituted an Advisory Group representing the REs under the chairmanship of Shri Swaminathan J., Managing Director, State Bank of India.

2. RRA has been engaging in extensive consultations with both – internal as well as external stakeholders, on review of the regulatory and supervisory instructions for their simplification and ease of implementation. Based on these consultations and the suggestions of the Advisory Group, the RRA has recommended withdrawal of 150 circulars in the first tranche of recommendations.

3. The notifications containing the list of specific instructions recommended for withdrawal is being issued separately.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/1202

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Reserve Bank of India – Press Releases

November 16, 2021 root Press Releases

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Sr. No.	State	Amount to be raised (₹ Cr)	Amount Accepted (₹ Cr)	Cut off Yield (%)	Tenure (Yrs)
1	Karnataka	1000	1000	4.74	2
1	Karnataka	1000	1000	6.90	10
2	Madhya Pradesh	2000	2000	6.99	20
3	Tamil Nadu	1000	1000	6.71	8
4	Telangana	1000	1000	6.99	22
5	Uttar Pradesh	2500	2500	6.93	10
6	West Bengal	1500	1500	6.98	16
	TOTAL	10000	10000

Ajit Prasad
Director (Communications)

Press Release: 2021-2022/1201

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Reserve Bank of India – Press Releases

November 16, 2021 root Press Releases

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Tenor	7-day
Notified Amount (in ₹ crore)	2,00,000
Total amount of offers received (in ₹ crore)	2,72,865
Amount accepted (in ₹ crore)	2,00,010
Cut off Rate (%)	3.94
Weighted Average Rate (%)	3.91
Partial Acceptance Percentage of offers received at cut off rate	8.50

Ajit Prasad
Director (Communications)

Press Release: 2021-2022/1200

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Reserve Bank of India – Press Releases

November 16, 2021 root 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)	473,119.56	3.27	1.00-5.20
I. Call Money	7,224.43	3.19	2.00-3.40
II. Triparty Repo	362,640.40	3.27	3.22-3.75
III. Market Repo	103,224.73	3.30	1.00-3.40
IV. Repo in Corporate Bond	30.00	5.20	5.20-5.20
B. Term Segment
I. Notice Money**	576.20	3.23	2.50-3.40
II. Term Money^@@	289.50	–	3.25-3.65
III. Triparty Repo	560.00	3.29	3.25-3.30
IV. Market Repo	0.00	–	–
V. Repo in Corporate Bond	76.00	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	Mon, 15/11/2021	1	Tue, 16/11/2021	250,255.00	3.35
(iii) Special Reverse Repo^~
(iv) Special Reverse Repo^ψ
2. Variable Rate^&
(I) Main Operation
(a) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo
3. MSF	Mon, 15/11/2021	1	Tue, 16/11/2021	0.00	4.25
4. On Tap Targeted Long Term Repo Operations^€	Mon, 15/11/2021	1095	Thu, 14/11/2024	250.00	4.00
5. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)^£	Mon, 15/11/2021	1095	Thu, 14/11/2024	105.00	4.00
6. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*				-249,900.00
II. Outstanding Operations
1. Fixed Rate
(i) Repo
(ii) Reverse Repo
(iii) Special Reverse Repo^~	Wed, 03/11/2021	15	Thu, 18/11/2021	1,158.00	3.75
(iv) Special Reverse Repo^ψ	Wed, 03/11/2021	15	Thu, 18/11/2021	291.00	3.75
2. Variable Rate^&
(I) Main Operation
(a) Reverse Repo	Wed, 03/11/2021	15	Thu, 18/11/2021	434,492.00	3.99
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo	Tue, 09/11/2021	7	Tue, 16/11/2021	200,015.00	3.95
	Tue, 02/11/2021	28	Tue, 30/11/2021	50,007.00	3.97
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
	Mon, 14/06/2021	1096	Fri, 14/06/2024	320.00	4.00
	Mon, 30/08/2021	1095	Thu, 29/08/2024	50.00	4.00
	Mon, 13/09/2021	1095	Thu, 12/09/2024	200.00	4.00
	Mon, 27/09/2021	1095	Thu, 26/09/2024	600.00	4.00
	Mon, 04/10/2021	1095	Thu, 03/10/2024	350.00	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
	Tue, 15/06/2021	1095	Fri, 14/06/2024	490.00	4.00
	Thu, 15/07/2021	1093	Fri, 12/07/2024	750.00	4.00
	Tue, 17/08/2021	1095	Fri, 16/08/2024	250.00	4.00
	Wed, 15/09/2021	1094	Fri, 13/09/2024	150.00	4.00
D. Standing Liquidity Facility (SLF) Availed from RBI^$				21,695.80
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*				-578,625.2
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*				-828,525.2
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on		15/11/2021		608,039.08
(ii) Average daily cash reserve requirement for the fortnight ending		19/11/2021		634,320.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on^¥		15/11/2021		0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on		22/10/2021		1,179,109.00
^@ 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, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 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 and Press Release No. 2021-2022/1023 dated October 11, 2021.
^~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.
^ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021.
Ajit Prasad Director (Communications)
Press Release: 2021-2022/1199

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