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The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period July 05 – July 09, 2021.
Ajit Prasad Press Release: 2021-2022/774 |
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The Reserve Bank of India has been regularly conducting Consumer Confidence Survey (CCS). The September 2021 round of the survey is now being launched. The survey seeks qualitative responses from households, regarding their sentiments on general economic situation, employment scenario, price level, households’ income and spending. The survey is conducted regularly in 13 cities, viz., Ahmedabad, Bengaluru, Bhopal, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Patna and Thiruvananthapuram. The survey covers approximately 5,400 respondents across 13 cities. 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 through face-to-face as well as telephonically, in view of the phase-wise resumption of activities. For this purpose, the selected households will be approached by the agency and they are requested to provide their responses. 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: 2021-2022/770
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The Reserve Bank of India has been regularly conducting Inflation Expectations Survey of Households (IESH). The September 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 through face-to-face as well as telephonically, in view of the phase-wise resumption of activities. For this purpose, the selected households will be approached by the agency and they are requested to provide their response. 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 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 8520;
Please click here to send email.
(Yogesh Dayal)
Chief General Manager
Press Release: 2021-2022/771
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Reserve Bank of India invites e-Tender for Design, Supply, Installation, Testing and Commissioning of Intelligent Analog Addressable Fire Alarm System at Main Office Building, RBI, Thiruvananthapuram. The tendering would be done through the e-Tendering portal of MSTC Ltd (http://mstcecommerce.com/eprochome/rbi). The Schedule of e-Tender is as follows: SCHEDULE OF TENDER (SOT)
Applicants intending to apply will have to satisfy the Bank by furnishing documentary evidence in support of their possessing required eligibility and in the event of their failure to do so, the Bank reserves the right to reject their candidature. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender and reserves the right to reject all the tenders without assigning any reason therefor. Amendment / corrigendum to the tender, if any, issued in future will only be notified on the RBI Website and MSTC Website as given above. Regional Director for Kerala and Lakshadweep |
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Government of India (GOI) has announced the sale (re-issue) of three dated securities for a notified amount of ₹26,000 crore as per the following details:
| Sr No | Security | Date of Repayment | Notified Amount (₹ crore) |
GoI specific Notification | Auction Date | Settlement Date |
| 1 | 4.26% GS 2023 | May 17, 2023 | 3,000 | F.No.4(3)-B(W&M)/2021 dated August 27, 2021 | September 03, 2021 (Friday) |
September 06, 2021 (Monday) |
| 2 | 6.10% GS 2031 | July 12, 2031 | 14,000 | |||
| 3 | 6.76% GS 2061 | Feb. 22, 2061 | 9,000 | |||
| Total | 26,000 |
2. GoI will have the option to retain additional subscription up to ₹6,000 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 4.26% GS 2023, 6.10% GS 2031 and multiple price method for 6.76% GS 2061. 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 03, 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 06, 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 03, 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 August 30, 2021 – September 03, 2021.
7. Operational guidelines for Government of India dated securities auction and other details are given in the Annex.
Ajit Prasad
Director
Press Release: 2021-2022/769
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 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).
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The Reserve Bank of India (RBI) has imposed monetary penalty of ₹3 crore (Rupees three crore only) on Transaction Analysts (India) Pvt. Ltd. for contravention of / non-compliance with certain provisions of the directions issued by RBI contained in the Master Direction on Issuance and Operation of PPIs in India dated October 11, 2017 (updated as on November 17, 2020) and Master Direction – Know Your Customer (KYC) Direction, 2016 dated February 25, 2016 (updated as on April 20, 2020).
Monetary penalty has also been imposed on four White Label ATM (WLA) Operators as detailed below, for contravention of / non-compliance with certain provisions of the directions contained in the ‘White Label ATMs in India – Guidelines’ dated June 20, 2012.
| Sr. No. | Name of the entity | Speaking Order dated | Amount of Penalty (₹ crore) |
| 1. | BTI Payments Pvt. Ltd. | 13-08-2021 | 2 |
| 2. | Hitachi Payment Services Pvt. Ltd. | 13-08-2021 | 2 |
| 3. | Tata Communications Payment Solutions Ltd. | 13-08-2021 | 1 |
| 4. | Vakrangee Ltd. | 13-08-2021 | 1 |
The penalties have been imposed in exercise of powers vested in RBI under the provisions of Section 30 of the Payment and Settlement Systems Act, 2007. 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 entities with their customers.
Background
On-site inspection of Transaction Analysts (India) Pvt. Ltd. revealed, inter-alia, non-compliance with directions issued by the RBI on escrow account balances, limits prescribed for certain transactions, and KYC.
Off-site review of the operations of the WLA Operators had revealed non-compliance with directions issued by the RBI on ATM deployment and maintenance of net-worth. Accordingly, notices were issued to the entities. After considering the written responses and oral submissions made in the personal hearings, RBI concluded that the aforesaid charges of non-compliance with RBI directions were substantiated and warranted imposition of monetary penalty.
(Yogesh Dayal)
Chief General Manager
Press Release: 2021-2022/768
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A Pre-Bid meeting in connection with tender No. RBI/Kanpur/Estate/52/21-22/ET/67, which was floated on MSTC on August 05, 2021 for the captioned work, was conducted at 11.30 AM on August 27, 2021 at Conference Hall, 2nd Floor, RBI Kanpur. The said meeting was held following all COVID-19 protocols. 2. After welcoming all the members, Shri Bhaskar Choudhury (DGM, PMC) and Shri Nithin J Sebastian (A.M (Tech-Electrical)) explained tender documents and important timelines of the tendering process in brief and requested members to raise doubts, if any. Following queries/ doubts were clarified during the meeting:
3. The meeting ended with thanks to all the members. Note: This document (minutes of the Pre-Bid Meeting) shall form a part of the tender.
Regional Director August 27, 2021 List of participants
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