Category: RBI News

Sr. No. State/UT Notified Amount (₹ Cr) Amount Accepted (₹ Cr) Cut off Price (₹) / Yield (%) Tenure (Yrs) 1 Andhra Pradesh 500 500 6.86 14 500 500 6.87 19 2 Kerala 500 500 6.86 14 3 Madhya Pradesh 2000 2000 100.42/6.7911 Re-issue of 6.85% Madhya Pradesh SDL 2031 Issued on September 15, 2021 4 Maharashtra 2500 2500 100.05/6.7710 Re-issue of 6.78% Maharashtra SDL 2031 Issued on May 25, 2021 5 Nagaland 150 150 6.80 10 6 Rajasthan 1000 1000 6.77 10 500 500 6.86 15 7 Sikkim 251 251 6.80 10 8 Tamil Nadu 1000 1000 6.76 10   TOTAL 8901 8901     Ajit Prasad Director    Press Release: 2021-2022/896

Tenor 7-day Notified Amount (in ₹ crore) 1,00,000 Total amount of offers received (in ₹ crore) 1,25,770 Amount accepted (in ₹ crore) 1,00,001 Cut off Rate (%) 3.42 Weighted Average Rate (%) 3.39 Partial Acceptance Percentage of offers received at cut off rate 51.18 Ajit Prasad Director    Press Release: 2021-2022/895

(Amount in ₹ crore, Rate in Per cent)   Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 4,11,455.57 3.29 1.95-3.50      I. Call Money 8,425.55 3.21 1.95-3.45      II. Triparty Repo 3,13,183.90 3.28 3.00-3.31      III. Market Repo 89,846.12 3.30 2.00-3.50      IV. Repo in Corporate Bond 0.00 – – B. Term Segment            I. Notice Money** 759.60 3.26 2.70-3.40      II. Term Money@@ 33.00 – 3.20-3.30      III. Triparty Repo 132.00 3.10 3.10-3.10      IV. Market Repo 515.00 3.49 3.00-3.50      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 Mon, 20/09/2021 1 Tue, 21/09/2021 3,23,779.00 3.35     (iii) Special Reverse Repo~               (iv) Special Reverse Repoψ           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo           3. MSF Mon, 20/09/2021 1 Tue, 21/09/2021 77.00 4.25 4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£           5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -3,23,702.00   II. Outstanding Operations 1. Fixed Rate               (i) Repo               (ii) Reverse Repo               (iii) Special Reverse Repo~ Thu, 09/09/2021 15 Fri, 24/09/2021 6,937.00 3.75     (iv) Special Reverse Repoψ Thu, 09/09/2021 15 Fri, 24/09/2021 2,513.00 3.75 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo Thu, 09/09/2021 15 Fri, 24/09/2021 3,50,015.00 3.41   (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo Tue, 14/09/2021 7 Tue, 21/09/2021 1,00,019.00 3.38 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   Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00   Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00   Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00 8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00 Tue, 15/06/2021 1095 Fri, 14/06/2024 490.00 4.00 Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00 Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00 Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00 D. Standing Liquidity Facility (SLF) Availed from RBI$       26,695.80   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -3,48,096.20   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -6,71,798.20   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 20/09/2021 6,35,388.05        (ii) Average daily cash reserve requirement for the fortnight ending 24/09/2021 6,25,660.00   H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 20/09/2021 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 27/08/2021 11,40,445.00   @ 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, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021. ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015. £ As per the Press Release No. 2021-2022/181 dated May 07, 2021. ~ As per the Press Release No. 2021-2022/177 dated May 07, 2021. ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021. Ajit Prasad Director    Press Release: 2021-2022/894

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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The Reserve Bank of India (RBl) has imposed, by an order dated September 20, 2021, a monetary penalty of ₹13,000/- (Rupees Thirteen Thousand only) on The Bhandara District Central Co-operative Bank Limited, Bhandara, Maharashtra (the bank) for contravention of /non-compliance with the provisions of the Credit Information Companies (Regulation) Act, 2005 (CIC Act) and RBI directions on membership of Credit Information Companies by Co-operative Banks. This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 25 (1) (iii) read with section 23 (4) of the CIC Act, taking into account the failure of the bank to adhere to the provisions of the aforesaid Act. 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 provisions of the CIC Act and RBI directions on membership of Credit Information Companies by Co-operative Banks. 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 provisions of the CIC Act. After considering the bank’s replies, RBI came to the conclusion that the aforesaid charge of non-compliance with the provisions of the CIC Act was substantiated and warranted imposition of monetary penalty. (Yogesh Dayal)      Chief General Manager Press Release: 2021-2022/892

As announced in Governor’s statement of June 04, 2021, the Reserve Bank will conduct open market purchase of government securities under the G-sec Acquisition Programme (G-SAP 2.0) for an aggregate amount of ₹15,000 crore on September 23, 2021.

2. Accordingly, the Reserve Bank will purchase the following Government securities through a multi-security auction using the multiple price method:

Sr. No	ISIN	Security	Date of Maturity	Aggregate Amount
1	IN0020170174	7.17% GS 2028	08-Jan-2028	₹15,000 crore (There is no security-wise notified amount)
2	IN0020210095	6.10% GS 2031	12-Jul-2031
3	IN0020210020	6.64% GS 2035	16-Jun-2035

3. On a review of current liquidity conditions, the Reserve Bank has decided to conduct simultaneous sale of Government securities under Open Market Operations (OMO) for an aggregate amount of ₹15,000 crore on September 23, 2021.

4. Accordingly, the Reserve Bank will sell the following Government securities through a multi-security auction using the multiple price method:

Sr. No	ISIN	Security	Date of Maturity	Aggregate Amount
1	IN0020120013	8.15% GS 2022	11-Jun-2022	₹15,000 crore (There is no security-wise notified amount)
2	IN0020070028	8.08% GS 2022	2-Aug-2022
3	IN0020070051	8.13% GS 2022	21-Sep-2022

5. The Reserve Bank reserves the right to:

• decide on the quantum of purchase/sale of individual securities.

• accept bids/offers for less than the aggregate amount.

• purchase/sell marginally higher/lower than the aggregate amount due to rounding-off.

• accept or reject any or all the bid/offers either wholly or partially without assigning any reasons.

6. Eligible participants should submit their bids/offers in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on September 23, 2021. Only in the event of system failure, physical bids/offers would be accepted. Such physical bid/offer should be submitted to Financial Markets Operations Department (email; Phone no: 022-22630982) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before 11:00 am.

7. The result of the auctions will be announced on the same day and successful participants should ensure availability of funds/securities in their Current account/SGL account, as the case may be, by 12 noon on September 24, 2021.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/891

Government of India (GOI) has announced the sale (re-issue) of four dated securities for a notified amount of ₹31,000 crore as per the following details:

Sr No	Security	Date of Repayment	Notified Amount (₹ crore)	GoI specific Notification	Auction Date	Settlement Date
1	5.63% GS 2026	April 12, 2026	11,000	F.No.4(3)-B(W&M)/2021 dated September 20, 2021	September 24, 2021 (Friday)	September 27, 2021 (Monday)
2	GOI FRB 2034 *	October 30, 2034	3,000
3	6.67% GS 2035	December 15, 2035	10,000
4	6.67% GS 2050	December 17, 2050	7,000
	Total		31,000
*The base rate for the coupon payment for the period August 30, 2021 to October 29, 2021 for GOI FRB 2034 shall be 3.47 per cent per annum.

2. GoI will have the option to retain additional subscription up to ₹8,000 crore against above security/securities.

3. The securities will be sold through Reserve Bank of India Mumbai Office, Fort, Mumbai – 400001. The sale will be subject to the terms and conditions spelt out in the ‘Specific Notification’ mentioned above and the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018.

4. The auction will be conducted using uniform price method for 5.63% GS 2026, GoI FRB 2034, 6.67% GS 2035 and multiple price method for 6.67% GS 2050. 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 September 24, 2021 (Friday). 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. The result will be announced on the same day and payment by successful bidders will have to be made on September 27, 2021 (Monday).

5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 9.00 a.m. up to 9.30 a.m. on September 24, 2021 (Friday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

6. The Stocks will be eligible for “When Issued” trading for a period commencing from September 21, 2021 – September 24, 2021.

7. Operational guidelines for Government of India dated securities auction and other details are given in the Annex.

Ajit Prasad
Director   

Press Release: 2021-2022/890

---

ANNEX

Type of Auction

1. For multiple price-based auction, successful bids will get accepted at the respective quoted yield/price for the security. For uniform price-based auction, bids will get accepted at the cut off yield/price accepted in the auction.

2. The auction will be yield based for new security and price based for securities which are re-issued.

3. In case of a Floating Rate Bonds (FRB), the auction will be spread-based for new security and price based for securities which are reissued. At the time of placing bids for new FRB, the spread should be quoted in percentage terms.

Minimum Bid Size

4. The Stocks will be issued for a minimum amount of ₹10,000/- (nominal) and in multiples of ₹10,000/- thereafter.

Non-Competitive Segment

5. In all the auctions, Government Stock up to 5% of the notified amount of sale will be allotted to the eligible individuals and institutions under the Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities.

6. Each bank or Primary Dealer (PD) on the basis of firm orders received from their constituents will submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

7. Allotment under the non-competitive segment to the bank or PD will be at the weighted average rate of yield/price of the successful bids that will emerge in the auction on the basis of the competitive bidding.

Submission of Bids

8. 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.

9. Bids in physical form will not be accepted except in extraordinary circumstances.

Business Continuity Plan (BCP)-IT failure

10. Only in the event of system failure, physical bids will be accepted. Such physical bids should be submitted to the Public Debt Office, Mumbai through (email; Phone no: 022-22632527, 022-22701299) in the prescribed form which can be obtained from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends.

11. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595666, 022-27595415, 022-27523516).

12. For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Multiple Bids

13. An investor can submit more than one competitive bid in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

14. However, the aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of auction.

Decision Making Process

15. On the basis of bids received, the Reserve Bank will determine the minimum price up to which tenders for purchase of Government Stock will be accepted at the auctions.

16. Bids quoted at rates lower than the minimum price determined by the Reserve Bank of India will be rejected.

17. Reserve Bank of India will have the full discretion to accept or reject any or all bids either wholly or partially without assigning any reason.

Issue of Securities

18. Issue of securities to the successful bidders will be by credit to Subsidiary General Ledger Account (SGL) of parties maintaining such account with Reserve Bank of India or in the form of Stock Certificate.

Periodicity of Interest Payment

19. Interest on the Government Stock will generally be paid half-yearly other than in case of securities with non-standard maturities. The exact periodicity of coupon payment is invariably mentioned in the specific notification for the issue of security.

Underwriting of the Government Securities

20. The underwriting of the Government Securities under auctions by the ‘Primary Dealers’ will be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” announced by the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007 as amended from time to time.

Eligibility for Repurchase Transactions (Repo)

21. The Stocks will be eligible for Repurchase Transactions (Repo) as per the conditions mentioned in Repurchase Transactions (Repo) (Reserve Bank) Directions, 2018 (Reserve Bank) Directions, 2018 as amended from time to time.

Eligibility for ‘When Issued’ Trading

22. The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

Investment by Non-Residents

23. Investments by Non-Residents are subject to the guidelines on ‘Fully Accessible Route’ for Investment by Non-residents in Government Securities and Investment by Foreign Portfolio Investors (FPI) in Government Securities: Medium Term Framework (MTF).