Reserve Bank of India – Press Releases

[ad_1]

Read More/Less


Government of India (GOI) has announced the sale (issue/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 August 23, 2021 August 27, 2021
(Friday)
August 30, 2021
(Monday)
2 New GoI FRB 2034 October 30, 2034 3,000
3 6.64% GS 2035 June 16, 2035 10,000
4 6.67% GS 2050 December 17, 2050 7,000
  Total   31,000      

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, New GoI FRB 2034, 6.64% 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 August 27, 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 August 30, 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 August 27, 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 24, 2021 – August 27, 2021.

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

Ajit Prasad
Director   

Press Release: 2021-2022/732


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 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).

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


A Pre-bid meeting on E-tender for Supply, Installation, Testing and Commissioning of X-Ray Baggage Scanner System for Bank’s Office Building at RBI, Jammu issued on MSTC and RBI website on July 29, 2021 was held at 11.00 am, at RBI, Jammu, on August 23, 2021 via WebEx. The names of firms and their representatives who participated in the meeting are as under:

Sl. No Name of the representative Name of the organization
1. Shri Samir Bhatt M/s D.B. Impex
2. Shri Karthik Mudliar M/s Astrosonic Imaging Systems
3. Shri Ashish Sumrani M/s Vehant Technologies
4. Shri Sunil Kumar Pandey M/s Evolve IT Solutions Pvt. Ltd

2. Bank’s side was represented by following officials:

Sl. No Name of Bank’s Official Designation
1. Shri Bhaskar Choudhury DGM–Electrical-PMCNZ
2. Shri Sanjeev Sharma AGM
3. Shri Himanshu Bhatt AM-Electrical
4. Shri Sumit Jain AM

The queries raised by the representatives and the clarifications thereto are as under:

S.No Query Raised Clarifications
1. Government of India has come with circulars on Performance Bank Guarantee (PBG) Security where a PBG of 3 % is applicable instead of 5%. The requirement for Performance Bank Guarantee has been reduced from 5% to 3% for tenders to be invited on or before December 31, 2021 as per RBI circular dated June 28, 2021 on Performance Bank Guarantee – Review of Instructions. However, as per above CO circular, PBG of 5% would continue to remain applicable for specialized/ technology based works like lit UPS, X-Ray Baggage scanner etc.
2. MSEs are exempted from submission of EMD for the captioned work. Registered MSEs are exempted from submission of EMD for works having an estimated cost of up to Rs.10 lakh (including all taxes, duties etc). However, there is no exemption of submission of EMD for the captioned work as the cost of work is beyond the permissible limit.

Note: All other terms and conditions of the captioned tender remain unchanged.

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Press Releases

[ad_1]

Read More/Less


The Reserve Bank of India (RBI) has imposed, by an order dated August 23, 2021, a monetary penalty of ₹27.50 lakh (Rupees Twenty Seven Lakh and Fifty Thousand only) on Dhanlaxmi Bank Ltd., Thrissur, Kerala (the bank) for contravention of sub-section (2) of section 26A of the Banking Regulation Act, 1949 (the Act) read with paragraph 3 of The Depositor Education and Awareness Fund Scheme, 2014 (the scheme) enclosed with RBI Circular on ‘The Depositor Education and Awareness Fund Scheme, 2014 – Section 26A of Banking Regulation Act, 1949- Operational Guidelines’ dated May 27, 2014. The 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) of the Act.

This action is based on the 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 for Supervisory Evaluation (ISE) of the bank was conducted by RBI with reference to its financial position as on March 31, 2020, and the examination of the Risk Assessment Report and Inspection Report pertaining to the same, revealed, inter-alia, contravention of above-mentioned provisions of the Act read with the scheme. In furtherance to the same, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for contravention of the provisions of the Act read with the scheme, as stated therein.

After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of contravention of aforesaid provisions of the Act read with the scheme was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/731

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


E-tenders were invited for Design, Supply, Installation, Testing and commissioning of UVGI System for Air Handling Units (AHUs) at Main Office Building, RBI, Hyderabad after publishing the NIT in Newspaper and on the Bank’s website. As per the schedule, pre-bid meeting was conducted on August 17, 2021.

2. Representatives of Integrated Cooltech Private Limited, Blue Star Limited, Voltas Limited, and ETA Engineering Private Limited attended the meeting. Various points and clarifications were discussed from our side and vendor’s side. Following main points were discussed:

  1. Measurement of intensity/dose shall be done by the contractor after completion of work at site.

  2. Bar Chart for completion of the work should be submitted within the contractual completion period from the tenth day of letter of intent. Such chart shall include all activities like the date of supply of material at site, item wise completion of work etc., and obtain the approval of the Bank.

  3. The tenderer need to submit the detailed design calculation preferable with simulation reports indicating the number of UV lamps, Wattage, Intensity and Dose of the system so as to meet the tender specification.

  4. UV lamps and Ballasts should be UL/CE certified and the lamp output shall not drop by more than 20% after 9000 hours of operation.

  5. Individual lamp On/Off Indicator, lamp failure, individual lamp usage meter (Hr) and main power on/off switch shall be provided in the control panel.

  6. In Section-III para 3.8.5 of the tender document, minimum 4016 µW/Cm2 may be read as minimum average 4016 µW/Cm2.

  7. In section VII para 7.5 (d), 100μW/cm2 may be read as 4016 µW/Cm2.

  8. In terms of para 3.8.1 in Section III of tender, “the air quality after the work will be checked for effectiveness of the newly installed systems.” This may be read as “Testing of Air quality is to be conducted before and after installation of UVGI, after taking swab samples from the coil surface. The testing is to be conducted by an NABL approved agencies. Test-reports are to be submitted to the Bank to showcase the effectiveness of the installation.

3. Representatives of the firms were advised to follow the important instructions provided in the tender document and adhere to the prequalification criteria and all terms and conditions mentioned therein.

4. The Prospecting bidders were informed that the working hours will be 10.00 AM to 6.00 PM on working days i.e., Monday to Friday. Decision of working on holidays will be taken as per the convenience of the Bank.

5. All the above points were noted and agreed by the firms.

6. AGM (Tech-Electrical) ended the meeting with vote of thanks.

Please note:

(i) This document (minutes of the Pre-Bid Meeting) shall form a part of the tender.

(ii) Rest of the terms and conditions and specifications of the bid document shall continue to remain the same.

(iii) The above amendments/ clarifications are issued for the information of all the intending bidders.

(iv) The submission of bid by the firm shall be construed to be in conformity to the bid document and amendments/ clarifications given above.

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


E-Tender No. RBI/Nagpur/Estate/42/21-22/ET/55

Please refer to the tender notice for the captioned tender published on the Bank’s website on July 26, 2021 inviting application from eligible bidders through e-tender on MSTC Portal (https://www.mstcecommerce.com/eprochome/rbi/).

2. The last date for the tender submission has been extended till 02:00 PM of August 31, 2021 and Part I of the tender will be opened at 03:00 PM on August 31, 2021.

Corrigendum shall be treated as the part of the tender document. All other terms and conditions mentioned in the tender remain unchanged.

Regional Director
Reserve Bank of India
Nagpur

August 23, 2021

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Press Releases

[ad_1]

Read More/Less


A. Source Security 5.09% GS 2022 8.35% GS 2022 8.15% GS 2022 7.16% GS 2023 8.83%% GS 2023
B. Notified Amount (amount in ₹ cr) 2,000 2,000 2,000 2,000 2,000
Destination Security GOI FRB 2031 GOI FRB 2031 GOI FRB 2031 6.64% GS 2035 6.64% GS 2035
C. i. No. of offers received 16 9 3 1 7
ii. Total amount of Source Security offered (Face value in ₹ cr) 7,718.647 775 1,510 1,000 3,127.339
iii. No of offers accepted 1 7 2 0 1
iv. Total amount of source security accepted (Face value in ₹ cr) 2,000 315 810 NA 2,000
v. Total amount of destination security issued (Face value in ₹ cr) 2004.764 323.842 836.745 NA 2,214.481
vi. Cut-off price/yield for destination security 100.75/4.3820 100.47/4.4160 100.34/4.4319 NA 98.47/6.8112

Ajit Prasad
Director   

Press Release: 2021-2022/730

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Press Releases

[ad_1]

Read More/Less


As announced in the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on February 05, 2021, Reserve Bank of India (RBI) had, on February 15, 2021, announced the constitution of an Expert Committee on Primary (Urban) Co-operative Banks under the chairmanship of Shri N. S. Vishwanathan, former Deputy Governor, Reserve Bank of India. The Expert Committee was required to examine the issues and to provide a road map for strengthening the sector, leveraging on the recent amendments to the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies).

The Committee has since submitted its report, a copy of which is being placed on the RBI website today for comments of stakeholders and members of the public. Comments on the report may be submitted by September 30, 2021 through email. RBI will examine the comments and suggestions before taking a final view on the recommendations made by the Committee.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/729

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


Sr. No Queries Clarification 1 What is the carpet area that you are looking for? Please refer to the clause 12 – Minimum eligibility criteria (Sr. No. 2 Page 24). 2 Would you consider independent building or floor wise area? Please refer to the clause 12 – Minimum eligibility criteria (Sr. No. 3 Page 24) and clause 13 (A) – Scoring matrix criteria (Sr. No. 3 Page 28). 3 How much is your Budget? No specific budget. Bidder with highest score would be selected subject to the award criteria. [Refer clause 14 & 15] 4 Would you consider under construction or ready possession building? Under construction building is not acceptable. 5 If 80000 sq. ft. carpet Premises on outright is offered on 3 different floors would it be acceptable, they may not be contiguous in Bandra Kurla Complex. Please refer to the clause 12- Minimum eligibility criteria (Sr. No. 3 Page 24) and clause 13 (A) – Scoring matrix criteria (Sr. No. 3 Page 28). 6 Would you consider 80000 sq. ft. carpet offered on Leasing on one Floor in a new Building in Bandra Kurla Complex? No. RFP is for outright purchase only. 7 Whether skillet preses of 15000 sq. ft. to 20000 sq. ft. carpet area in Fort as independent building would be acceptable to you? Please refer to the clause 12- Minimum eligibility criteria (Sr. No. 2 Page 24). 8 Would Nariman Point Location be acceptable as an option? Please refer to the clause 12 (Sr. No. 1 Page 24). 9 Would Central Mumbai (Lower Parel) which has excellent railway connectivity also be a preferred option for RBI? Please refer to the clause 12 (Sr. No. 1 Page 24). 10 Would you look at a long lease like a 9 year or a 15 year lease, which can be renewed for further terms? No. RFP is for outright purchase only. 11 Would RBI also consider IT/ITeS developments at competitive terms? Please refer to the clause 12- Minimum eligibility criteria. 12 Is there any minimum and maximum floor plate size requirement? No. 13 Will you give preference to office developments where other banks are also located? Office space should meet minimum eligibility criteria specified in clause 12. 14 In Central Mumbai, will you give preference to developments which are walking distance from nodal railway station? Please refer to the clause 12- Minimum eligibility criteria and clause 13- Scoring matrix criteria. 15 If our commercial office building will qualify to participate in the bidding process? Please refer to the clause 12- Minimum eligibility criteria. 16 Any demo for submitting the bid / documents? Any contact person who can resolve the doubts? Two contact details along with mobile number already mentioned in the RBI manual but are sometimes not reachable. There is no demo. You can also contact MSTC at their helpdesk no. 022-22822789 or send e-mail at the email ids given on Page 5. 17 What is the process for submitting the EMD DD/submitting the proof of EMD NEFT? While it is mentioned in the Bid Document that manual Proof of payment to be uploaded with technical Bid documents in case of NEFT. Please refer to the clause 7-3 (Page 17). Accordingly, DD/BG are to be sent by post (or hand delivered) on the address of communication given in Schedule of events in such manner so as to reach the addressee on or before the specified time on the last date of submission of the Bid as given in the Schedule of events. Scanned copies (Proof of NEFT/DD/BG) are to be uploaded with the Technical Bid documents on the e-tendering portal. 18 As the building was built & occupied since the mid-1950s, in our understanding the Occupation Certificate was not a requirement back then, hence we do not have it. Please clarify. Other relevant documents need to be submitted to confirm authorised occupancy. [Refer Clause 12 Sr. No. 5 Page 25] 19 Since the building was built during the 1950s, the architect who was responsible for the construction / Original layout drawings are not available. Please advise. Please submit all the documents as listed in clause 8.1 (Page 18) and specify the documents not available clearly. As-built layout drawing by marking area offered may be submitted. 20 Our proposal is to transfer the land lease which is perpetual along with the building structure owned by us, the consent from the land owner while in principle has been agreed upon, the formal document may take some time. Please clarify. NOC from lessor has to be submitted. Please submit the documents as per timelines specified in the RFP. 21 The proposed building is on a free hold land but it is on a perpetual lease to us. We own the building structure. We propose to transfer the land lease along with the structure owned by us. Please advise on the documents required. Document list is given in clause 8 (Page 18). The Bank may ask for any other necessary documents that may be required. 22 Considering that the building offered is a stand-alone building, all features such as entrance lobby, staircases, lifts and sanitary shafts, lift lobbies, common toilets, watchman room, pump room, overhead tank, generator rooms, air- conditioning plant rooms, AHU etc. are all dedicated to the occupier of the building. Hence, we propose that these features should be a part of the carpet area calculations. Please advise. Please refer to Page 26. Carpet area shall be calculated as per the provisions of Maharashtra RERA Circular No. 4 of 2017 dated 14.06.2017 on ‘Calculation of Carpet Area’. 23 Is zip file the right format to submit the bid documents? No. You can upload multiple files as per format acceptable in MSTC Portal like PDF, etc. 24 In case the bidder plans to leave behind movable furniture, is there any format other than Annexure 9 in which it should be captured in the Bid Document. Please advise. Movable furniture will not be a part of Bank’s consideration. 25 Due to the ongoing Pandemic situation, we believe it may take us more time to secure all the necessary documents and processes. Would we be allotted additional time to submit supporting documents for responses to the queries listed in Annexure 4? Please submit the documents as per timelines specified in the RFP. 26 In the event we are selected, we would want to propose a tripartite agreement for the transfer of lease and the transfer of ownership of the building. In addition, the sale consideration might require to be split between the parties. What is RBI’s thought process regarding the same? Where the bidder is in possession/ownership of the property as a lessee under a subsisting lease agreement, then a tripartite agreement with the bidder (lessee) and the Lessor is acceptable. However, sale consideration will be paid to the bidder only. 27 Please clarify the payment schedule. Will there be any form of part payment made at the time of agreement execution? We would require a 30% of the sale proceed at the time of agreement execution while balance 70% can be at the time of handover of premises. Please refer to terms of payment (page 8). No change is acceptable. 28 Is there any format for the consent form in Annexure 4.2, Sr No 5? No 29 Would RBI consider BPT land lease as lately BPT has not renewed the land lease? Please refer clause 12 (Sr. No. 5 on page 25 and Sr. No .12 on page 26) 30 Would RBI consider new building with no OC? No. 31 Can we propose a property available in Kalina? Please refer to the clause 12 (Sr. No. 1 Page 24) 32 Area asked in tender for purchase of flats is in BKC or in Fort. There are commercial areas in nearby BKC area like Kalina etc. Can we bid for the same. Please refer to the clause 12 (Sr. No. 1 Page 24) 33 Only 1.5 Km distance from Fort office is permissible. Please increase the same as on the lines of BKC like 4 to 5 km. No change in RFP conditions is acceptable. 34 Nearest station is railway station. Please consider Metro Station also for the same. No change in RFP conditions is acceptable. 35 Valuation report has been expected from the bidder for financial Bid. Normally it is done by purchasing Party. Also market valuation can vary. So request you to cancel this pre requirement. No change in RFP conditions is acceptable. 36 210 days is too long time for validity. Please reduce the same as much as possible. To hold the premise for so long time without any confirmation is little difficult. At Least please give us the breakup of the time line for the process. No change in RFP conditions is acceptable as time-period of validity was considered based on internal assessment on various activities including procedural requirements. 37 We believe that the continuous floors will do for purchase. Please clarify. Please refer to the clause 12- Minimum eligibility criteria (Sr. No. 3 Page 24) and clause 13- A Scoring matrix criteria (Sr. No. 3 Page 28). 38 Structural stability report is pre-requisite for the new building. So having the recent structural stability report will not require in case of new building. Please clarify. Needs to be submitted. 39 In case the property is offered by individual client (Other than builder) than will you need the data like experience in real estate etc for builder or individual client. No, only if developer is bidding as indicated in clause 13 (B) (Sr. No. 9 Page 31) 40 Brief description of equipment has been sorted along with the premise. we presume it is optional. Like we can sell bare shell also. Please clarify the same. As per clause 12, offered premise should meet minimum eligibility criteria. 41 Can one consultant represent two landlords for two separate bids? Please refer to Page 9, only one offer is allowed to be submitted per bidder in MSTC portal.

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Press Releases

[ad_1]

Read More/Less


The Reserve Bank of India (RBl) has imposed, by an order dated August 18, 2021, a monetary penalty of ₹20.00 lakh (Rupees Twenty Lakh only) on The N.E. & E.C. Railway Employees’ Multi-State Primary Co-operative Bank Limited, Gorakhpur, Uttar Pradesh (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF). 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 inspection report of the bank based on its financial position as on March 31, 2019, revealed, inter alia, non-adherence/violation of specific directions issued to the bank by RBI under Supervisory Action Framework (SAF). Based on the report, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for violation of the said directions.

After considering the bank’s reply and oral submissions made during the personal hearing, RBI came to the conclusion that the aforesaid charge of non-adherence/violation of RBI directions was substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/728

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – 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) 0.00
     I. Call Money 0.00
     II. Triparty Repo 0.00
     III. Market Repo 0.00
     IV. Repo in Corporate Bond 0.00
B. Term Segment      
     I. Notice Money** 0.00
     II. Term Money@@ 0.00
     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 Sun, 22/08/2021 1 Mon, 23/08/2021 4,743.00 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 Sun, 22/08/2021 1 Mon, 23/08/2021 8.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£          
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*
      -4,735.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Sat, 21/08/2021 2 Mon, 23/08/2021 34,471.00 3.35
  Fri, 20/08/2021 3 Mon, 23/08/2021 5,39,812.00 3.35
     (iii) Special Reverse Repo~ Fri, 13/08/2021 14 Fri, 27/08/2021 4,481.00 3.75
     (iv) Special Reverse Repoψ Fri, 13/08/2021 14 Fri, 27/08/2021 352.00 3.75
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 13/08/2021 14 Fri, 27/08/2021 2,50,029.00 3.43
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Sat, 21/08/2021 2 Mon, 23/08/2021 42.00 4.25
  Fri, 20/08/2021 3 Mon, 23/08/2021 0.00 4.25
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
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
D. Standing Liquidity Facility (SLF) Availed from RBI$       23,295.80  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -7,21,515.20  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -7,26,250.20  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 22/08/2021 6,07,683.64  
     (ii) Average daily cash reserve requirement for the fortnight ending 27/08/2021 6,27,870.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 20/08/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 30/07/2021 10,95,060.00  
@ 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.
£ 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: 2021-2022/727

[ad_2]

CLICK HERE TO APPLY

1 88 89 90 91 92 287