Category: RBI News

The Reserve Bank of India vide directive DCBS.CO.BSD-I./D-9/12.22.111/2016-17 dated March 30, 2017 had placed The Kapol Co-operative Bank Ltd, Mumbai, Maharashtra under Directions from the close of business on March 30, 2017 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to April 30, 2021.

2. It is hereby notified for the information of the public that Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till October 31, 2021 as per the directive DOR.MON.D-7/12.22.111/2021-22 dated April 29, 2021, subject to review.

3. All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated April 29, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of public.

4. The aforesaid extension and /or modification by Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/146

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

Rupambara
Director   

Press Release: 2021-2022/145

The results of the auctions of 3.96% Government Stock 2022 (Re-Issue), 5.85% Government Stock 2030 (Re-Issue), 6.76% Government Stock 2061 (Re-Issue) held on April 30, 2021 are:

Rupambara
Director   

Press Release: 2021-2022/144

The Data on sectoral deployment of bank credit collected from select 33 scheduled commercial banks, accounting for about 90 per cent of the total non-food credit deployed by all scheduled commercial banks for the month of March 2021, are set out in Statements I and II.

Highlights of the sectoral deployment of bank credit are given below:

• On a year-on-year (y-o-y) basis, non-food bank credit growth stood at 4.9 per cent in March 2021 as compared to 6.7 per cent in March 2020.

• Continuing its uptrend, credit growth to agriculture and allied activities accelerated to 12.3 per cent in March 2021 from 4.2 per cent in March 2020.

• Credit growth to industry decelerated marginally to 0.4 per cent in March 2021 from 0.7 per cent in March 2020. However, credit to medium industries registered a robust growth of 28.8 per cent in March 2021 as compared to a contraction of 0.7 per cent a year ago. Credit growth to micro and small industries decelerated to 0.5 per cent in March 2021 from 1.7 per cent a year ago, while credit to large industries contracted by 0.8 per cent as compared to a growth of 0.6 per cent a year ago.

• Within industry, credit to ‘food processing’, ‘textiles’, ‘gems & jewellery’, ‘paper & paper products’, ‘glass & glassware’, ‘wood & wood products’ and ‘leather & leather products’ registered accelerated growth in March 2021 as compared to the corresponding month of the previous year. However, credit growth to ‘mining & quarrying’, ‘rubber, plastic & their products’, ‘vehicle, vehicle parts & transport equipment’, ‘basic metal & metal products’, ‘cement & cement products’, ‘all engineering’, ‘chemical & chemical products’ and ‘construction’ decelerated/contracted.

• Credit growth to the services sector decelerated to 1.4 per cent in March 2021 from 7.4 per cent in March 2020, mainly due to deceleration in credit growth to NBFCs and contraction in credit to professional services. However, credit to trade segment continued to perform well, registering accelerated growth of 11.8 per cent in March 2021 as compared to 4.6 per cent a year ago.

• Slowdown in growth of personal loans continued, as it decelerated to 10.2 per cent in March 2021 from 15.0 per cent a year ago. However, vehicle loans and loans against gold jewellery continued to perform well during the month, registering accelerated growth.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/142

Rupambara
Director    

Press Release: 2021-2022/141

The Governor, Reserve Bank of India (RBI) held a meeting with the MD/CEOs of Small Finance Banks on April 30, 2021 through video conference. The meeting was attended by Deputy Governors Shri M. K. Jain, Dr. M.D. Patra, Shri M. Rajeswar Rao and a few other senior officials of RBI.

In his opening remarks, the Governor recognised the important role of the SFBs in delivering credit and other financial services to individuals and small businesses. He also emphasised the supervisory expectations in terms of maintaining their business resilience and managing risks prudently. He advised the banks to pay focussed attention on improving customer grievance redress process while also strengthening IT systems in the interest of the banks and their customers.

Among other matters, the following issues were discussed in the meeting.

1. Assessment of current economic situation;

2. Credit flows to different segments of borrowers;

3. Outlook on potential stress on banks’ balance sheets;

4. Liquidity scenario.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/140

In the underwriting auctions conducted on April 30, 2021 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

Rupambara
Director    

Press Release: 2021-2022/137