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Reserve Bank of India – Press Releases

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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 August 2021, are set out in Statements I and II.

On a year-on-year (y-o-y) basis, non-food bank credit1 growth stood at 6.7 per cent in August 2021 as compared to 5.5 per cent in August 2020.

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

  • Credit to agriculture and allied activities continued to perform well, registering an accelerated growth of 11.3 per cent in August 2021 as compared to 4.8 per cent in August 2020.

  • Credit growth to industry picked up to 2.3 per cent in August 2021 from 0.4 per cent in August 2020. Size-wise, credit to medium industries registered a robust growth of 63.4 per cent in August 2021 as compared to 4.4 per cent last year. Credit to micro and small industries accelerated to 10.1 per cent in August 2021 from a contraction of 1.1 per cent a year ago, while credit to large industries contracted by 1.7 per cent in August 2021 as compared to a growth of 0.5 per cent a year ago.

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

  • Credit growth to the services sector moderated to 3.5 per cent in August 2021 from 10.9 per cent in August 2020, mainly due to contraction in credit growth to NBFCs and commercial real estate.

  • Personal loans registered an accelerated growth of 12.1 per cent in August 2021 as compared to 8.5 per cent a year ago, primarily due to faster credit growth in housing, vehicle loans and loans against gold jewellery.

Ajit Prasad
Director   

Press Release: 2021-2022/959

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Reserve Bank of India – Press Releases

Press Releases

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Today, the Reserve Bank released its web publication entitled ‘Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs), June 2021’ on its Database on Indian Economy (DBIE) portal (web-link: https://dbie.rbi.org.in/DBIE/dbie.rbi?site=publications#!12). It captures various characteristics of bank credit such as occupation/activity and organisational sector of the borrower, type of account and interest rates. Data reported by 88 SCBs (excluding Regional Rural Banks) are presented for bank groups, population groups and states1.

Highlights:

  • Bank credit growth (y-o-y) edged up to 5.8 per cent in June 2021 from 5.1 per cent a quarter ago.

  • Personal loans growth accelerated to 14.8 per cent on y-o-y basis after some moderation since the onset of the Covid-19 pandemic; its share in bank credit increased to 26.6 per cent in June 2021 (24.5 per cent a year ago and 18.9 per cent five years ago).

  • Bank credit to the industrial sector continued to decline, resulted in further lowering of its share in total credit to 28.6 per cent (30.8 per cent a year ago and 40.7 per cent five years ago).

  • Credit to individuals in the household sector2 continued to rise and their share in total loans increased to 43.3 per cent from 34.2 per cent five years ago; female borrowers had nearly 22 per cent share in the amount of credit to individuals.

  • Working capital loans (viz., cash credit, overdraft and demand loans) accounted for a third of total credit and followed the seasonal contraction in first quarter of financial year; their annual growth (y-o-y), nevertheless, turned positive in the latest quarter.

  • Bank branches in urban, semi-urban and rural centres maintained double digit credit growth (y-o-y) in June 2021 but credit extended by metropolitan branches, which accounted for nearly 63 per cent of total credit, recorded low growth of 2.7 per cent.

  • With their faster credit growth, private sector banks have increased their share in total credit to 36.6 per cent from 25.7 per cent five years ago, at the cost of public sector banks whose share declined from 69.0 per cent to 58.1 per cent over the same period.

  • Weighted average lending rate (WALR) on outstanding credit stood at 9.25 per cent in June 2021, which reflected a moderation of 7 basis points (bps) during the latest quarter and 72 bps over the last one year.

Ajit Prasad
Director   

Press Release: 2021-2022/958

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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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Tender for conducting Electrical Safety Audit of Bank’s Campus at College of Agricultural Banking, Reserve Bank of India, Ganeshkhind Road, Pune

The pre-bid meeting was held on 27.09.2021 at 12 PM. The Queries/doubts raised by vendor and the Bank’s reply is as under:

Sr. No. Queries/doubts raised by vendors Bank’s reply
1 Whether SLD should be submitted in MS Excel or MS word format The SLD can be submitted either in MS Excel or in MS word format. The auditor shall submit 3 hard copies of SLD along with audit report and also soft copy of the SLD.
2 Up to which level SLD is required The SLD shall be up to floor panel level for entire CAB campus.
3 Quantity of earthing pits There are 75 earthing pits.
4 Shutdown during earthing testing The required shutdown can be given during earthing testing.

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Reserve Bank of India – Tenders

Tenders

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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


Next

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Cancellation of Tender – Renovation of 6 nos. of Class III Flats – Electrical Renovation and Rewiring work at Bank's Staff Quarters Vidyut Marg, Bhubaneswar

Tenders

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A reference is invited to the captioned tender which was floated on August 16, 2021 under the “Tenders” link of RBI website https://www.rbi.org.in/Scripts/BS_ViewTenders.aspx.

2. The captioned tender stands cancelled, and a fresh tender shall be floated soon.

Regional Director
RBI, Bhubaneswar

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Reserve Bank of India – Notifications

Notifications

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RBI/2021-2022/103
A.P. (DIR Series) Circular No.15

September 30, 2021

All Category – I Authorised Dealer Banks

Madam/Sir

Exim Bank’s Government of India supported Line of Credit (LoC) of
USD 100 million to the Government of Democratic Socialist Republic of Sri Lanka

Export-Import Bank of India (Exim Bank) has entered into an agreement dated March 16, 2021 with the Government of the Democratic Socialist Republic of Sri Lanka (Borrower), for making available to the latter, Government of India supported Line of Credit (LoC) of USD 100 million (USD One Hundred Million only) for the purpose of financing projects in the Solar Energy Sector in the Democratic Socialist Republic of Sri Lanka. 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. Provided however at the request of the borrower and with the approval of the Government of India, Exim Bank may consider reduction in the India content not exceeding 10% of contract price on a case to case basis. Provided further that such view/consent of Government of India be obtained before a project procurement is initiated and the said goods or services shall not be from a country other than that of the Borrower or India.

2. The Agreement under the LoC is effective from September 13, 2021. Under the LoC, the terminal utilization period is 60 months from the scheduled completion date of specified in the eligible contract.

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 (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 – Press Releases

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 October 01, 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:

(₹ crore)
Security Notified Amount Minimum Underwriting Commitment (MUC) amount per PD Minimum bidding commitment per PD under ACU auction
New GOI FRB 2028 4,000 96 96
6.10% GS 2031 13,000 310 310
6.76% GS 2061 7,000 167 167

The underwriting auction will be conducted through multiple price-based method on October 01, 2021 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E- Kuber) System between 9.00 A.M. and 9.30 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.

Ajit Prasad
Director   

Press Release: 2021-2022/956

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Reserve Bank of India – Notifications

Notifications

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RBI/2021-2022/102
A.P. (DIR Series) Circular No.14

September 30, 2021

All Category – I Authorised Dealer Banks

Madam/Sir

Exim Bank’s Government of India supported Line of Credit (LoC) of
USD 15 million to the Government of the Republic of Sierra Leone

Export-Import Bank of India (Exim Bank) has entered into an agreement dated December 17, 2020 with the Government of the Republic of Sierra Leone, for making available to the latter, Government of India supported Line of Credit (LoC) of USD 15 million (USD Fifteen Million only) for the purpose of expansion of the ongoing projects for rehabilitation of existing potable water facilities in four communities in the Republic of Sierra Leone. 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 August 31, 2021. Under the LoC, the terminal utilization period is 60 months from 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 (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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