RBI News – Page 178 – IFSCCodeof.in

Reserve Bank of India – Press Releases

April 23, 2021 root Press Releases

[ad_1]

Read More/Less

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

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

April 23, 2021 root Press Releases

[ad_1]

Read More/Less


(Amount in ₹ crore, Rate in Per cent)

	Volume (One Leg)	Weighted Average Rate	Range
A. Overnight Segment (I+II+III+IV)	448,808.12	3.13	0.01-3.50
I. Call Money	12,199.67	3.24	1.90-3.50
II. Triparty Repo	280,485.45	3.13	2.89-3.28
III. Market Repo	155,923.00	3.12	0.01-3.50
IV. Repo in Corporate Bond	200.00	3.50	3.50-3.50
B. Term Segment
I. Notice Money**	442.62	3.24	2.50-3.40
II. Term Money^@@	694.45	–	3.20-3.90
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, 22/04/2021	1	Fri, 23/04/2021	421,947.00	3.35
2. Variable Rate^&
(I) Main Operation
(a) Reverse Repo
(II) Fine Tuning Operations
(a) Repo
(b) Reverse Repo	–	–	–	–	–
3. MSF	Thu, 22/04/2021	1	Fri, 23/04/2021	0.00	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 (-)]*				-421,947.00
II. Outstanding Operations
1. Fixed Rate
(i) Repo
(ii) Reverse Repo
2. Variable Rate^&
(I) Main Operation
(a) Reverse Repo	Fri, 09/04/2021	14	Fri, 23/04/2021	200,017.00	3.48
(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^$				27,122.06
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*				-90,812.94
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*				-512,759.94
G. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on		22/04/2021		516,348.39
(ii) Average daily cash reserve requirement for the fortnight ending		23/04/2021		537,119.00
H. Government of India Surplus Cash Balance Reckoned for Auction as on^¥		22/04/2021		0.00
I. Net durable liquidity [surplus (+)/deficit (-)] as on		26/03/2021		808,301.00
^@ 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 : 2021-2022/97

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Notifications

April 22, 2021 root Notifications

[ad_1]

Read More/Less

RBI/2021-22/23
DOR.ACC.REC.7/21.02.067/2021-22

April 22, 2021

All Commercial Banks and Cooperative Banks,

Madam / Sir,

Declaration of dividends by banks

Please refer to our circular DOR.BP.BC.No.29/21.02.067/2020-21 dated December 4, 2020, and other associated circulars on the captioned subject.

2. In view of the continuing uncertainty caused by the ongoing second wave of COVID-19 in the country, it is crucial that banks remain resilient and proactively raise and conserve capital as a bulwark against unexpected losses. Therefore, while allowing banks to pay dividend on equity shares, it has been decided to review the dividend declaration norms for the year ended March 31, 2021 as below.

Commercial Banks

3. In partial modification of the instructions contained in circular DBOD.NO.BP.BC.88/21.02.067/2004-05 dated May 4, 2005, banks may pay dividend on equity shares from the profits for the financial year ended March 31, 2021, subject to the quantum of dividend being not more than fifty percent of the amount determined as per the dividend payout ratio prescribed in paragraph 4 of the said circular. Other instructions in the circular dated May 4, 2005 shall remain unchanged.

Cooperative Banks

4. Cooperative banks shall be permitted to pay dividend on equity shares from the profits of the financial year ended March 31, 2021 as per the extant instructions.

General

5. All banks shall continue to meet the applicable minimum regulatory capital requirements after dividend payment. While declaring dividend on equity shares, it shall be the responsibility of the Board of Directors to inter-alia consider the current and projected capital position of the bank vis-à-vis the applicable capital requirements and the adequacy of provisions, taking into account the economic environment and the outlook for profitability.

Yours faithfully,

(Usha Janakiraman)
Chief General Manager

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Auction of State Government Securities

April 22, 2021 root Press Releases

[ad_1]

Read More/Less

The following State Government has offered to sell securities by way of auction, for an aggregate amount of ₹200 Cr. (Face Value).

Sr. No.	State	Amount to be raised (₹ Cr)	Additional Borrowing (Greenshoe) Option (₹ Cr)	Tenure (Yrs)	Type of Auction
1	Manipur	200	–	10	Yield
	Total	200

The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on April 27, 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 April 27, 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 April 27, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on April 28, 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 October 28 and April 28 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.

Rupambara
Director

Press Release: 2021-2022/96

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

April 22, 2021 root Press Releases

[ad_1]

Read More/Less

Today, the Reserve Bank of India (RBI) has, vide order dated April 20, 2021 cancelled the licence of Bhagyodaya Friends Urban Co-operative Bank Limited, Warud, Dist. Amravati, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on April 22, 2021. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

The Reserve Bank cancelled the licence of the bank as:

The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of section 11(1) and section 22 (3) (d) read with section 56 of the Banking Regulation Act, 1949.
The bank has failed to comply with the requirements of section 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with section 56 of the Banking Regulation Act, 1949;
The continuance of the bank is prejudicial to the interests of its depositors;
The bank with its present financial position would be unable to pay its present depositors in full; and
Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.

2. Consequent to the cancellation of its licence, Bhagyodaya Friends Urban Co-operative Bank Limited, Warud, Dist. Amravati, Maharashtra is prohibited from conducting the business of ‘banking’ which includes acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.

3. With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of Bhagyodaya Friends Urban Co-operative Bank Limited, Warud, Dist. Amravati, Maharashtra as per the DICGC Act, 1961 will be set in motion. As per the data submitted by the bank, more than 98% of the depositors will receive full amounts of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC). On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees Five lakh only) from the DICGC subject to the provisions of the DICGC Act, 1961.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/95

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

April 22, 2021 root Press Releases

[ad_1]

Read More/Less

The Reserve Bank of India has launched the 94th round of the quarterly Industrial Outlook Survey (IOS) of the Indian manufacturing sector for the reference period April-June 2021. The survey assesses business sentiment for the current quarter (Q1:2021-22) and expectations for the ensuing quarter (Q2:2021-22), based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment conditions and the price situation. The survey provides useful insight into the performance of the manufacturing sector. Owing to continued uncertainty because of the Covid-19 pandemic, an additional block has been included in this survey round for assessing the outlook on key parameters for the two subsequent quarters (Q3:2021-22 and Q4:2021-22).

2. The results for the 93rd round i.e. for Q4:2020-21 were released in public domain on April 7, 2021.

3. M/s Genesis Management & Market Research Pvt. Ltd. has been authorised to conduct the survey for April-June 2021 on behalf of the Reserve Bank. While the agency will approach selected companies, other manufacturing companies are also encouraged to participate in the survey by downloading the survey questionnaire from the Bank’s website, which is placed under the head ‘Forms’ (see ‘More Links’ at the bottom of the RBI Homepage) and the sub-head ‘Survey’. The duly authenticated filled-in survey questionnaire may be e-mailed as per contact details given therein.

4. Identity of the respondents is not revealed.

5. In case of any query/clarification, kindly contact us at the following address:

The Director,
Division of Enterprise Surveys,
Department of Statistics and Information Management,
Reserve Bank of India, C-8, 2nd Floor, Bandra-Kurla Complex,
Bandra (East), Mumbai-400051.
Phone: 022-26578386, 022-26572197.
Please click here to send email.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/94

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

April 22, 2021 root Press Releases

[ad_1]

Read More/Less

The Reserve Bank of India has launched the 29th round of the quarterly Services and Infrastructure Outlook Survey (SIOS) for the reference period April-June 2021. The survey assesses the business situation for the current quarter (Q1:2021-22) from selected companies in the services and infrastructure sectors in India and their expectations for the ensuing quarter (Q2:2021-22) based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment conditions and the price situation. Owing to continued uncertainty because of the Covid-19 pandemic, an additional block has been included in this survey round for assessing the outlook on key parameters for the two subsequent quarters (Q3:2021-22 and Q4:2021-22).

2. The results for the 28th round i.e. for Q4:2020-21 were released in public domain on April 7, 2021.

3. M/s Genesis Management & Market Research Pvt. Ltd. has been authorised to conduct the survey for April-June 2021 quarter on behalf of the Reserve Bank. While the agency will approach selected companies, other companies in the services and infrastructure sectors are also encouraged to participate in the survey by downloading the survey questionnaire from the Bank’s website, which is placed under the head ‘Forms’ (see ‘More Links’ at the bottom of the RBI Homepage) and the sub-head ‘Survey’. The duly authenticated filled-in survey questionnaire may be e-mailed as per contact details given therein.

4. Identity of the respondents is not revealed.

5. In case of any query/clarification, kindly contact us at the following address:

The Director
Division of Enterprise Surveys,
Department of Statistics and Information Management,
Reserve Bank of India, C-8, 2nd Floor, Bandra-Kurla Complex,
Bandra (East), Mumbai-400051.
Phone: 022-26578664, 022-26572197.
Please click here to send email.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/93

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

April 22, 2021 root Press Releases

[ad_1]

Read More/Less

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

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Tenders

April 22, 2021 root Tenders

[ad_1]

Read More/Less

A reference is invited to the captioned E-tender no.: RBI/Kolkata/Estate/442/20-21/ET/683 which was floated by Estate Department, RBI Kolkata on March 24, 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 captioned tender stands cancelled and a fresh tender shall be floated soon.

Regional Director
Reserve Bank of India
Kolkata

Date: April 22, 2021.

[ad_2]