Category: RBI News

Reserve Bank of India – Notifications

Notifications

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RBI/2020-21/115
DOR.CAP.51/21.06.201/2020-21

March 30, 2021

All Scheduled Commercial Banks
(excluding Regional Rural Banks)

Dear Sir,

Bilateral Netting of Qualified Financial Contracts- Amendments to Prudential Guidelines

The Bilateral Netting of Qualified Financial Contracts Act, 2020 (hereafter referred to as “the Act”), has been notified by the Government of India vide Gazette Notification No. S.O. 3463(E) dated October 1, 2020. The Act provides a legal framework for enforceability of bilateral netting of qualified financial contracts (QFC).

2. In exercise of the powers conferred by section 4(a) of the Act, the Reserve Bank, vide Notification no. FMRD.DIRD.2/14.03.043/2020-21 dated March 9, 2021, has since notified (a) “derivatives”; and (b) “repo” and “reverse repo” transactions as defined under Section 45(U) of Chapter III-D of the Reserve Bank of India Act, 1934 as a QFC.

3. Accordingly, select instructions contained in the following circulars have been modified/ amended appropriately:

a) Master Circular DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015 on ‘Basel III Capital Regulations’ as provided in Annex 1;

b) Circular DBR.BP.BC.No.106/21.04.098/2017-18 dated May 17, 2018 on ‘Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Final Guidelines’ as provided in Annex 2;

c) Master Circular DBR.No.BP.BC.2/21.04.048/2015-16 dated July 1, 2015 on ‘Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances’ as provided in Annex 3; and

d) Master Circular DBR.No.BP.BC.4./21.06.001/2015-16 dated July 1, 2015 on Prudential Guidelines on Capital Adequacy and Market Discipline-New Capital Adequacy Framework (NCAF) as provided in Annex 4.

The revised instructions come into force with immediate effect.

Yours faithfully,

(Usha Janakiraman)
Chief General Manager

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Reserve Bank of India – Press Releases

Press Releases

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The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Shri Janata Sahakari Bank Ltd., Halol (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. 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 statutory inspection 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 RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’, ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’ and Reporting of ‘Advances Granted to Directors and their Relatives by the Primary (Urban) Co-operative Banks’ to RBI. 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 RBI directions.

After considering the bank’s reply and oral submissions made during the personal hearing, RBI came to the conclusion that the charges regarding non-compliance with “RBI directions on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’”, were substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/1318

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Reserve Bank of India – Tenders

Tenders

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Minutes of Pre-bid meeting

This is with reference to our captioned tender notice dated March 16, 2021. Please refer to page 37, 43(B) in the tender document and note the following changes:

Previous Change made
The Bank will scrutinize the offers and evaluate the technical Bids based on the evaluation matrix given in Section V-C The Bank will scrutinize the offers and evaluate the technical Bids based on the evaluation matrix given on page 40 (Section V-A).

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Reserve Bank of India – Press Releases

Press Releases

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The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Akhand Anand Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on (i) ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ read with ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’, (ii) ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’ and (iii) ‘Declaration of dividend by 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 statutory inspections of the bank based on its financial position as on March 31, 2018 and March 31, 2019, revealed, inter alia, contravention of/ non-compliance with the above mentioned directions issued by RBI. Based on the same, notices were 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 reply and oral submissions made during the personal hearing, RBI came to the conclusion that the aforesaid charges regarding non-compliance with RBI directions were substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/1317

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Reserve Bank of India – Press Releases

Press Releases

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(Amount in Crore of ₹)
  SCHEDULED COMMERCIAL BANKS
(Including RRBs and SFBs)		 ALL SCHEDULED BANKS
13-Mar-20 26-FEB-2021* 12-MAR-2021* 13-Mar-20 26-FEB-2021* 12-MAR-2021*
I LIABILITIES TO THE BKG.SYSTEM (A)            
  a) Demand & Time deposits from bks. 225264.95 192925.2 190878.49 230353.77 197527.52 195477.70**
  b) Borrowings from banks 51594.1 39193.59 37792.85 51707.45 39369.61 37942.83
  c) Other demand & time liabilities 14926.77 17660.99 17882.28 15077.17 17881.37 18404.4
II LIABILITIES TO OTHERS (A)            
  a) Deposits (other than from banks) 13339149.43 14933580.25 14955789.77 13744720.23 15350583.35 15374886.74
  i) Demand 1457567.89 1703094.45 1696349.33 1491862.08 1738299.81 1733194.81
  ii) Time 11881581.54 13230485.71 13259440.5 12252858.16 13612283.45 13641691.98
  b) Borrowings@ 312512.35 244736.93 243287.75 317069.75 249469.14 247629.93
  c) Other demand & time liabilities 676170.52 624295.06 637370.67 688742.24 636300.09 649508.42
III BORROWINGS FROM R.B.I. (B) 105035 84650.68 84615.68 105035 84685.68 84615.68
  Against usance bills and / or prom. Notes            
IV CASH 79561.86 91536.62 91794.73 81700.59 93585.67 93802.15
V BALANCES WITH R.B.I. (B) 551020.37 462156.08 461182.2 567006.88 474863.19 473734.22
VI ASSETS WITH BANKING SYSTEM            
  a) Balances with other banks            
  i) In current accounts 14502.14 15044.05 14837.27 17310.67 17196.45 17183.34
  ii) In other accounts 132633.35 126713.1 125352.34 155184.11 158446.61 158398.51
  b) Money at call & short notice 14790.75 8074.7 8993.23 34594.79 31427.12 32986.1
  c) Advances to banks (i.e. due from bks.) 28965.4 17434.97 16635.1 36567.13 20544.23 19919.40£
  d) Other assets 52203.3 23954.71 24749.91 58617.13 27079.43 27738.8
VII INVESTMENTS (At book value) 3795013.3 4461323.15 4515011.06 3910670.14 4594742.61 4649447.66
  a) Central & State Govt. securities+ 3787015.88 4460125.68 4513933.42 3896183.53 4587123.95 4641929.8
  b) Other approved securities 7997.42 1197.49 1077.64 14486.61 7618.66 7517.86
VIII BANK CREDIT (Excluding Inter Bank Advance) 10140472.61 10774742.44 10798488.08 10472358.18 11122143.09 11139653.65
  a) Loans, cash credits & Overdrafts$ 9921609.01 10586842.14 10606728.24 10250231.24 10932251.12 10940981.93
  b) Inland Bills purchased 26204.81 26274.91 29235.26 26783.65 26561.74 29572.35
  c) Inland Bills discounted 141863.58 112204.3 112138.93 143437.31 113084.4 113053.75
  d) Foreign Bills purchased 20982.75 18674.78 19363.14 21459.11 18921.9 19652.6
  e) Foreign Bills discounted 29812.45 30746.31 31022.62 30446.88 31323.92 36393.12
NOTE
* Provisional figures incorporated in respect of such banks as have not been able to submit final figures.
(A) Demand and Time Liabilities do not include borrowings of any Scheduled State Co-operative Bank from State Government and any reserve fund deposits maintained with such banks by any co-operative society within the areas of operation of such banks.
** This excludes deposits of Co-operative Banks with Scheduled State Co-operative Banks. These are included under item II (a).
@ Other than from Reserve Bank, National Bank for Agriculture and Rural Development and Export Import Bank of India.
(B) The figures relating to Scheduled Commercial Banks’ Borrowings in India from Reserve Bank and balances with Reserve Bank are those shown in the statement of affairs of the Reserve Bank. Borrowings against usance bills and/ or promissory notes are under Section 17(4)(c) of the Reserve Bank of India Act, 1934. Following a change in the accounting practise for LAF transactions with effect from July 11, 2014, as per the recommendations of Malegam Committee formed to review the Format of Balance Sheet and the Profit and Loss Account of the Bank, the transactions in case of Repo/ Term Repo/MSF are reflected under “Borrowings from RBI”.
£ This excludes advances granted by Scheduled State Co-operative Banks to Co-operative banks. These are included under item VIII (a).
+ Includes Treasury Bills, Treasury Deposits, Treasury Savings Certificates and postal obligations.
$ Includes advances granted by Scheduled Commercial Banks and State Co-operative Banks to Public Food Procurement Agencies (viz. Food Corporation of India, State Government and their agencies under the Food consortium).

Food Credit Outstanding as on
(₹ in Crore)
Date 13-Mar-20 26-Feb-21 12-Mar-21
Scheduled Commercial Banks 60392.85 75205.98 69192.4
State Co-operative Banks 29122.48 30399.51 30398.49

The expression ‘ Banking System ‘ or ‘ Banks ‘ means the banks and any other financial institution referred to in sub-clauses (i) to (vi) of clause (d) of the explanation below Section 42(1) of the Reserve Bank of India Act, 1934.

No. of Scheduled Commercial Banks as on Current Fortnight:133

Ajit Prasad
Director   

Press Release: 2020-2021/1316

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Reserve Bank of India – Press Releases

Press Releases

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Sr. No. State/ UT Notified amount
(₹ Cr)		 Amount Accepted
(₹ Cr)		 Cut off Price/ Yield (%) Tenure
(Yrs)
1. Bihar 969 969 5.43 3
2. Goa 200 200 6.84 10
3. Gujarat 1,500 1,500 5.39 3
1,000 1,000 5.88 4
1,000 1,000 6.18 5
1,500 1,500 6.58 6
1,500 1,500 6.90 9
4. Jammu and Kashmir 201 201 6.84 10
5. Jharkhand 1,000 1,000 6.82 13
6. Kerala 1,000 1,000 6.80 10
1,000 1,000 6.82 11
1,000 1,000 6.82 14
7. Puducherry 240 240 6.98 12
8. Punjab 1,851 1,851 6.82 15
1,000 1,000 100.32/6.8203 Reissue of 6.86% Punjab SDL 2033 Issued on March 24, 2021
9. Uttarakhand 1,000 1,000 6.80 10
10. West Bengal 4,680 4,680 6.99 15
  Total 20,641 20,641    

Ajit Prasad
Director   

Press Release: 2020-2021/1315

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Reserve Bank of India – Press Releases

Press Releases

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Auction Results 91 days 182 days 364 days
I. Notified Amount ₹ 4000 Crore ₹ 7000 Crore ₹ 8000 Crore
II. Competitive Bids Received      
(i) Number 65 75 102
(ii) Amount ₹ 22440 Crore ₹ 21387.5 Crore ₹ 24475 Crore
III. Cut-off price / Yield 99.1800 98.3000 96.3243
(YTM: 3.3162%) (YTM: 3.4683%) (YTM: 3.8264%)
IV. Competitive Bids Accepted      
(i) Number 10 17 57
(ii) Amount ₹ 3984 Crore ₹ 7000 Crore ₹ 8000 Crore
V. Partial Allotment Percentage of Competitive Bids 36.8% 72.75% 13%
(1 Bids) (1 Bids) (1 Bids)
VI. Weighted Average Price/Yield 99.1849 98.3083 96.3677
(WAY: 3.2962%) (WAY: 3.4511%) (WAY: 3.7796%)
VII. Non-Competitive Bids Received      
(i) Number 3 0 0
(ii) Amount ₹ 16 Crore ₹ 0 Crore ₹ 0 Crore
VIII. Non-Competitive Bids Accepted      
(i) Number 3 0 0
(ii) Amount ₹ 16 Crore ₹ 0 Crore ₹ 0 Crore
(iii) Partial Allotment Percentage 100% NIL NIL

Ajit Prasad
Director   

Press Release: 2020-2021/1314

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Reserve Bank of India – Press Releases

Press Releases

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I. T-Bill 91 days 182 days 364 days
II. Total Face Value Notified ₹4,000 Crore ₹7,000 Crore ₹8,000 Crore
III. Cut-off Price and Implicit Yield at Cut-Off Price 99.1800
(YTM: 3.3162%)		 98.3000
(YTM: 3.4683%) 		96.3243
(YTM: 3.8264%)
IV. Total Face Value Accepted ₹4,000 Crore ₹7,000 Crore ₹8,000 Crore

Ajit Prasad
Director   

Press Release: 2020-2021/1313

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Reserve Bank of India – Press Releases

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

Tenders

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It has been decided with the approval of competent authority to extend bid submission end date and bid opening date. Accordingly, Calendar of Events (Page 4 of Tender Document) stands modified/amended as under:

Existing Amended
Last Date for Submitting Applications and Opening of Quotations March 23, 2021 (Tuesday) Last Date for Submitting Applications and Opening of Quotations March 30, 2021 (Tuesday)
Opening of Technical Bid and Issue of Draft Empanelment List March 26, 2021 (Friday) Opening of Technical Bid and Issue of Draft Empanelment List April 01, 2021 (Thursday)

2. All other terms and conditions of the tender remain unchanged.

3. The above clarifications/modifications/amendments shall be part of the Bid document for all purposes

Note:

Last date of Tender submission: March 30, 2021 by 1500 hours

Opening of Technical bids: April 01, 2021

Regional Director
Reserve Bank of India
Bengaluru

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