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Reserve Bank of India – Press Releases

April 28, 2021 root Press Releases

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The Reserve Bank of India has been regularly conducting Inflation Expectations Survey of Households (IESH). The May 2021 round of the survey is now being launched. The survey aims at capturing subjective assessments on price movements and inflation, of approximately 6,000 households, based on their individual consumption baskets, across 18 cities, viz., Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram. The survey seeks qualitative responses from households on price changes (general prices as well as prices of specific product groups) in the three months ahead as well as in the one year ahead period and quantitative responses on current, three months ahead and one year ahead inflation rates. 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: 2021-2022/127

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Reserve Bank of India – Press Releases

April 28, 2021 root 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

April 28, 2021 root Tenders

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April 14, 2015

Dear All

Welcome to the refurbished site of the Reserve Bank of India.

The site can be accessed through most browsers and devices; it also meets accessibility standards.

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 – Press Releases

April 28, 2021 root Press Releases

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Auction Results		91 days	182 days	364 days
I.	Notified Amount	₹15000 Crore	₹15000 Crore	₹6000 Crore
II.	Competitive Bids Received
	(i) Number	100	164	128
	(ii) Amount	₹56595 Crore	₹83278 Crore	₹26257 Crore
III.	Cut-off price / Yield	99.1791	98.3085	96.4229
III.	Cut-off price / Yield	(YTM: 3.3199%)	(YTM: 3.4507%)	(YTM: 3.7200%)
IV.	Competitive Bids Accepted
	(i) Number	25	11	26
	(ii) Amount	₹14995.703 Crore	₹14995.463 Crore	₹5999.672 Crore
V.	Partial Allotment Percentage of Competitive Bids	90.88% (2 Bids)	99.85% (1 Bid)	8.30% (4 Bids)
VI.	Weighted Average Price/Yield	99.1821	98.3123	96.4344
VI.	Weighted Average Price/Yield	(WAY: 3.3076%)	(WAY: 3.4428%)	(WAY: 3.7076%)
VII.	Non-Competitive Bids Received
	(i) Number	4	2	1
	(ii) Amount	₹4034.557 Crore	₹4.537 Crore	₹0.328 Crore
VIII.	Non-Competitive Bids Accepted
	(i) Number	4	2	1
	(ii) Amount	₹4034.557 Crore	₹4.537 Crore	₹0.328 Crore
	(iii) Partial Allotment Percentage	100% (0 Bids)	100% (0 Bids)	100% (0 Bids)

Rupambara
Director

Press Release: 2021-2022/124

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Reserve Bank of India – Press Releases

April 28, 2021 root Press Releases

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I.	T-Bill	91 days	182 days	364 days
II.	Total Face Value Notified	₹15,000 Crore	₹15,000 Crore	₹6,000 Crore
III.	Cut-off Price and Implicit Yield at Cut-Off Price	99.1791 (YTM: 3.3199%)	98.3085 (YTM: 3.4507%)	96.4229 (YTM: 3.7200%)
IV.	Total Face Value Accepted	₹15,000 Crore	₹15,000 Crore	₹6,000 Crore

Rupambara
Director

Press Release: 2021-2022/123

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Reserve Bank of India – Press Releases

April 28, 2021 root Press Releases

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As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 7, 2021, the Reserve Bank of India had announced setting up of a Committee to undertake a comprehensive review of the working of Asset Reconstruction Companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling such entities to meet the growing requirements of the financial sector. Accordingly, a Press Release dated April 19, 2021 has been issued regarding constitution of the Committee under the chairmanship of Shri Sudarshan Sen, former Executive Director, Reserve Bank of India.

2. The terms of reference of the Committee are as under:

Review of existing legal and regulatory framework applicable to ARCs and recommend measures to improve efficacy of ARCs;
Review of role of ARCs in resolution of stressed assets including under Insolvency & Bankruptcy Code (IBC), 2016;
Suggestions for improving liquidity in and trading of security receipts;
Review of business models of the ARCs;
Any other matter relevant to the functioning, transparency and governance of ARCs.

The Committee invites views and suggestions on the above aspects from ARCs, market participants and other stakeholders. These may be emailed latest by May 31, 2021 to email with the subject line ‘Suggestions – Committee on ARCs’.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/122

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Reserve Bank of India – Press Releases

April 28, 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)	438,572.91	3.21	0.01-3.50
I. Call Money	10,778.18	3.20	1.90-3.50
II. Triparty Repo	316,336.30	3.23	3.00-3.25
III. Market Repo	109,731.43	3.14	0.01-3.40
IV. Repo in Corporate Bond	1,727.00	3.40	3.38-3.40
B. Term Segment
I. Notice Money**	404.10	3.16	2.40-3.40
II. Term Money^@@	273.00	–	3.00-3.40
III. Triparty Repo	238.10	3.20	3.20-3.20
IV. Market Repo	1,030.00	3.28	0.01-3.38
V. Repo in Corporate Bond	1,547.00	3.43	3.43-3.43

	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	Tue, 27/04/2021	1	Wed, 28/04/2021	422,887.00	3.35
2. Variable Rate^&
(I) Main Operation
(a) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo	–	–	–	–	–
3. MSF	Tue, 27/04/2021	1	Wed, 28/04/2021	12.00	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 (-)]*				-422,875.00
II. Outstanding Operations
1. Fixed Rate
(i) Repo
(ii) Reverse Repo
2. Variable Rate^&
(I) Main Operation
(a) Reverse Repo	Fri, 23/04/2021	14	Fri, 07/05/2021	200,017.00	3.47
(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
D. Standing Liquidity Facility (SLF) Availed from RBI^$				27,202.06
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*				-90,732.94
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*				-513,607.94
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on		27/04/2021		516,863.65
(ii) Average daily cash reserve requirement for the fortnight ending		07/05/2021		538,082.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on^¥		27/04/2021		0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on		09/04/2021		712,322.00
^@ 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.
Rupambara Director
Press Release : 2021-2022/121

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Reserve Bank of India – Press Releases

April 27, 2021 root Press Releases

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The Reserve Bank of India (RBI) has, by an order dated April 27, 2021, imposed a monetary penalty of ₹40.00 Lakh (Rupees Forty Lakh only) on Himachal Pradesh State Co-operative Bank Ltd., Shimla (the bank) for non-compliance with regulatory directions issued by NABARD contained in “Review of Frauds – Guidelines on Monitoring and Reporting System”. This penalty has been imposed in exercise of powers vested in RBI under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

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 statutory inspection of the bank conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to the bank’s financial position as on March 31, 2019 and the Inspection Report (IR) pertaining thereto, and examination of all related correspondence regarding reporting of frauds, revealed, inter alia, non-compliance with aforesaid directions issued by NABARD, in contravention of the provisions of the Act. In furtherance to the same, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for contravention of the provisions of the Act/ directions issued by NABARD. After considering the bank’s reply to the notice and oral submissions made in the personal hearing, RBI came to the conclusion that the aforesaid charge was substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/120

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Reserve Bank of India – Press Releases

April 27, 2021 root Press Releases

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The Reserve Bank of India (RBI), in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies:

Sr. No.	Name of the Company	Office Address	CoR No.	CoR Issued On	Cancellation Order Date
1	M/s Vrundavan Securities Limited	202, Yogi Complex, 44, Sampatrao Colony, Alkapuri, Vadodara, Gujarat – 390007	B 01.00261	June 09, 1998	January 19, 2021
2	M/s Durlav Finance Limited	Mahalaxmi Nibas, 2nd Floor, Narasingha Nagar, Pandra Street, Berhampur, Ganjam, Odisha-760009	N-04.00024	July 18, 2012	January 22, 2021
3	VGM Finance Private Limited (Presently known as M/s Sufalam Financial Services Private Limited)	# 161, 2nd floor, 4th Main, 7th Cross, Chamrajpet, Bengaluru, Karnataka – 560018	B-09.00335	June 03, 2011	February 19, 2021
4	M/s Dhananjay Finance Limited	Survey No. 36, Plot No. 83, Dhananjay, Sanket Park, Opposite Shri Raj Residency, Nana Mauva Main Road, Rajkot, Gujarat – 360004	B.01.00540	January 16, 2015	March 05, 2021

As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/119

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Reserve Bank of India – Press Releases

April 27, 2021 root Press Releases

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The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India (RBI):

Sr. No.	Name of the Company	Office Address	CoR No.	CoR Issued On	Cancellation Order Date
1	M/s Balaji Instalments Supply Limited	280, Goyal Complex, Bans Mandi, Bareilly, Uttar Pradesh- 243005	B-12.00267	November 02, 2015	February 22, 2021
2	M/s Sugam Commodeal Pvt. Ltd.	54/3, 1st Cross, Ejipura Main Road, Vivek Nagar, Bengaluru, Karnataka – 560047	B-05.05460	September 03, 2003	March 24, 2021

The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration.

As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/118

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