Reserve Bank of India – Press Releases

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The Reserve Bank of India (RBI) has joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as a Member on April 23, 2021.

Launched at the Paris One Planet Summit on December 12, 2017, the NGFS is a group of central banks and supervisors willing to share best practices and contribute to the development of environment and climate risk management in the financial sector, while mobilising mainstream finance to support the transition towards a sustainable economy.

The Reserve Bank expects to benefit from the membership of NGFS by learning from and contributing to global efforts on Green Finance which has assumed significance in the context of climate change.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/131

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Reserve Bank of India – Press Releases

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The Reserve Bank of India (RBl) has imposed, by an order dated April 29, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Yavatmal Urban Cooperative Bank Limited, Yavatmal, Maharashtra (the bank) for contravention of/ non-compliance with the directions issued by RBI to Urban Cooperative Banks on Frauds – Classification and Reporting. 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, contravention of/ non-compliance with the directions issued by Reserve Bank of India (RBI) on Frauds – Classification and Reporting. 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 charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/130

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Reserve Bank of India – Notifications

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RBI/2021-2022/26
A.P. (DIR Series) Circular No.02

April 29, 2021

All Category – I Authorised Dealer Banks

Madam/Sir

Exim Bank’s Government of India supported Line of Credit (LoC) of
USD 250 million to the Government of the Republic of Mozambique

Export-Import Bank of India (Exim Bank) has entered into an agreement dated August 03, 2020 with the Government of the Republic of Mozambique, for making available to the latter, Government of India supported Line of Credit (LoC) of USD 250 million (USD Two Hundred and Fifty million only) for the purpose of financing improving of quality of power supply in the Republic of Mozambique. Under the arrangement, financing of export of eligible goods and services from India, as defined under the agreement, would be allowed subject to their being eligible for export under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this agreement. Out of the total credit by Exim Bank under the agreement, goods, works and services of the value of at least 75 per cent of the contract price shall be supplied by the seller from India, and the remaining 25 per cent of goods and services may be procured by the seller for the purpose of the eligible contract from outside India.

2. The Agreement under the LoC is effective from April 09, 2021. Under the LoC, the terminal utilization period is 60 months after the scheduled completion date of the project.

3. Shipments under the LoC shall be declared in Export Declaration Form as per instructions issued by the Reserve Bank from time to time.

4. No agency commission is payable for export under the above LoC. However, if required, the exporter may use his own resources or utilize balances in his Exchange Earners’ Foreign Currency Account for payment of commission in free foreign exchange. Authorised Dealer Category- I (AD Category- I) banks may allow such remittance after realization of full eligible value of export subject to compliance with the extant instructions for payment of agency commission.

5. AD Category – I banks may bring the contents of this circular to the notice of their exporter constituents and advise them to obtain complete details of the LoC from the Exim Bank’s office at Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005 or from their website www.eximbankindia.in.

6. The directions contained in this circular have been issued under section 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under any other law.

Yours faithfully

(R. S. Amar)
Chief General Manager

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Reserve Bank of India – Tenders

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E-tender no. RBI/Guwahati/Estate/477/20-21/ET/731

Reserve Bank of India, Guwahati invites tenders for the above mentioned work.

The tender forms can be downloaded from https://www.rbi.org.in and https://www.mstcecommerce.com up to 14:00 Hrs. on 21.05.2021. Your tender, duly filled-in and e-signed, should be submitted by e-tendering only through https://www.mstcecommerce.com.

  1. Estimated cost :- ₹ 18,50,000/-

  2. Earnest Money :- ₹ 37,000/-

  3. Event View date & time:- from 11:00 hours on 29.04.2021

  4. Date of pre-bid meeting:- From 11:00 hours on 06.05.2021 to 14:00 hours on 07.05.2021.

  5. Bid start date & time:- 29.04.2021 at 11:00 hours.

  6. Bid close date & time:- 21.05.2021 at 14:00 hours.

  7. TOE start time:- 21.05.2021 at 15:30 hours.

  8. Time allowed for completion of the work: 60 days from tenth day of issue of written order to commence the work.

Bank reserves the right to accept or reject any or all the tenders, either in whole or in part, without assigning any reasons for doing so.

Regional Director
Reserve Bank of India
North Eastern States

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Reserve Bank of India – Tenders

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Reserve Bank India, Bhubaneswar invites application for empanelment of vendors from Bhubaneswar based firms/companies/agencies for inclusion in the Bank’s panel of vendors for supply of office stationery items, cleaning materials, computer consumables, rubber stamps and printing of registers, forms etc. The panel will remain valid for a period the period from July 2021 till March 2024, subject to their satisfactory performance. The Suppliers/Printers who are currently empanelled or those who have applied earlier but could not get empanelled, may also apply afresh for re-empanelment.

2. Separate Applications should be made by vendors in respect of

1. Supply of Office Stationery

2. Supply of Cleaning Materials

3. Supply of Computer consumables (printer cartridges, CD/DVD, pen drives etc.)

4. Supply of Printing materials (Forms, Registers, Envelopes, Visiting cards etc.)

5. Supply of Rubber Stamps

3. Other details including Application Forms can be downloaded from Bank’s Website link http://www.rbi.org.in/scripts/BS_ViewTenders.aspx

4. Duly completed applications in the prescribed format, along with necessary enclosures, in a sealed envelope, super-scribed “APPLICATION FOR EMPANELMENT OF VENDORS FOR SUPPLY OF STATIONERY ITEMS/ CLEANING MATERIALS/ COMPUTER CONSUMABLES/ PRINTING MATERIALS AND RUBBER STAMPS (PANEL YEAR 2021-2024)” should be dropped in the tender box kept for this purpose at 2nd Floor, HRMD (CRDS) latest by 3.00 PM on May 20, 2021 (Thursday). The Bank reserves the right to accept any or reject any or all applications and enlist/delist any supplier/printer/vendor from the existing list without assigning any reasons thereof.

Regional Director
Reserve Bank of India
Bhubaneswar
April 29, 2021

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Reserve Bank of India – Press Releases

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Government of India has announced the sale (re-issue) of Government Stock detailed below through auctions to be held on April 30 2021.

As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

(₹ in crore)
Security Notified Amount Minimum Underwriting Commitment (MUC) amount per PD Minimum bidding commitment per PD under ACU auction
3.96% GS 2022 3,000 72 72
5.85% GS 2030 14,000 334 334
6.76% GS 2061 9,000 215 215

The underwriting auction will be conducted through multiple price-based method on April 30, 2021 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E- Kuber) System between 09:00 A.M. and 09:30 A.M. on the date of underwriting auction.

The underwriting commission will be credited to the current account of the respective PDs with RBI on the date of issue of securities.

Rupambara
Director   

Press Release: 2021-2022/129

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Reserve Bank of India – 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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Reserve Bank of India – Tenders

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A reference is invited to the captioned tender with respect to the Sale of Bank’s Car (Ford EcoSport – TS 09 ES 9349) which was floated on April 20, 2021 under the “Tenders” link of RBI website (www.rbi.org.in).

2. The Tender form has been modified with the changes in applicable GST. Accordingly, GST applicable shall be 18% instead of 48%. All other provisions, terms and conditions of the tender remain unchanged. Revised tender is attached. The tenderer shall be liable to pay any additional GST (if applicable) and any other tax as per statutory rules before taking possession of car. This document (corrigendum) shall form a part of the contract.

3. Last Date for submission of Tender shall be 14:00 hours on May 10, 2021.

General Manager (O-i-C)
Reserve Bank of India, Hyderabad
28.04.2021

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Reserve Bank of India – Press Releases

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The Reserve Bank of India has been regularly conducting Consumer Confidence Survey (CCS). The May 2021 round of the survey is now being launched. The survey seeks qualitative responses from households, regarding their sentiments on general economic situation, employment scenario, price level, households’ income and spending. The survey is conducted regularly in 13 cities, viz., Ahmedabad, Bengaluru, Bhopal, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Patna and Thiruvananthapuram. The survey covers approximately 5,400 respondents across 13 cities. The results of this survey provide useful inputs for monetary policy.

The agency, M/s Hansa Research Group Pvt. Ltd., Mumbai has been engaged to conduct the survey of this round on behalf of the Reserve Bank of India over telephone (instead of regular personal interview mode) in view of the Covid-19 pandemic. For this purpose, the selected households will be approached by the agency over telephone and they will be requested to provide their responses over telephone. Other individuals, who are not approached by the agency, can also participate in this survey by providing their responses using the linked survey schedule. The filled in survey schedule may be e-mailed as per the contact details given below. In case of any query/clarification, kindly contact at the following address:

The Director,
Division of Household Surveys,
Department of Statistics and Information Management, Reserve Bank of India,
C-8, 2nd Floor, Bandra-Kurla Complex, Bandra (East),
Mumbai-400051; Phone: 022-2657 8398, 022-2657 8332;
Please click here to send email.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/126

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Reserve Bank of India – Tenders

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A reference is invited in the captioned subject E Tender No: RBI/Ahmedabad/Issue/24/20-21/ET/608 which was floated by RBI, Ahmedabad on February 26, 2021 under the “Tenders” link of RBI Website (www.rbi.org.in) and MSTC portal (www.mstcecommerce.com).

2) In this connection, it is advised that the tender referenced above stands cancelled and fresh tender will be floated soon.

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