Category: Press Releases

Reserve Bank of India – Press Releases

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The Reserve Bank of India today released the April 2021 issue of its monthly Bulletin. The Bulletin includes Monetary Policy Statement, 2021-22, Resolution of the Monetary Policy Committee (MPC) April 5-7, 2021, Monetary Policy Report – April 2021, one Speech, four Articles and Current Statistics.

The four articles are: I. State of the Economy; II. ARCs in India: A Study of their Business Operations and Role in NPA Resolution; III. The Relationship between Capacity Utilisation and Inflation: A Study of Indian Manufacturing Sector; and IV. Retail Payment Habits in India – Evidence from a Pilot Survey.

I. State of the Economy

As India battles the ferocious rise of new infections, a strong policy response is building. Economic activity in India is holding up against COVID -19’s renewed onslaught. Apart from contact-intensive sectors, activity indicators largely remained resilient in March and grew beyond pre-pandemic levels. The resurgence in COVID-19, if not contained in time, risks protracted restrictions and disruptions in supply chains with consequent inflationary pressures. Pandemic protocols, speedier vaccination, ramping up hospital and ancillary capacity, and remaining resolutely focused on a post pandemic future of strong and sustainable growth with macroeconomic and financial stability is the way forward.

II. ARCs in India: A Study of their Business Operations and Role in NPA Resolution

Asset reconstruction companies (ARCs) are important players in the asset resolution mechanism in India. Unlike many other countries that experimented with a public sector model of asset management companies marked by their existence for a pre-defined period following banking crises or crises-like situations, India introduced ARCs as private sector institutions as part of its ongoing financial sector reforms.

Highlights:

  • Notwithstanding the increase in the number of ARCs over time, there has been a concentration in the ARC industry in terms of the assets under management, and the security receipts (SRs) issued.

  • Despite the policy push to broaden and enhance the capital base of these companies, they have remained reliant primarily on domestic sources of capital, particularly banks.

  • The cost of acquisition to book value ratio, although posting a slow rise, remains low and is marked by wide variations across ARCs and economic sectors.

  • The ARCs have predominantly resorted to rescheduling of payment obligations as a method of resolution.

  • There is considerable concentration of older SRs in the books of the ARCs.

III. The Relationship between Capacity Utilisation and Inflation: A Study of Indian Manufacturing Sector

This article attempts to assess the efficacy of the capacity utilisation (CU) in the manufacturing sector in predicting inflation path.

Highlights:

  • The Order Books, Inventories and Capacity Utilisation Survey (OBICUS) based CU rate in the manufacturing sector provides useful insights into demand conditions in the economy.

  • The article computes a long time series of CU using an alternate (Wharton) method to study the cyclical pattern in CU and its relationship with price change.

  • The study finds that the relationship between CU and WPI-manufacturing based inflation varies with time and aggregate level CU needs to be interpreted prudently for gauging future path of manufacturing inflation.

IV. Retail Payment Habits in India – Evidence from a Pilot Survey

The article presents the results of a pilot survey on retail payment habits of individuals in six cities between December 2018 and January 2019 with a focus on the awareness and usage of digital payments.

Highlights:

  • The survey results indicated a widespread awareness about digital payments among respondents, with the point in favour of digital payment being its convenience.

  • Econometric assessment suggested that awareness was positively associated with ownership of bank accounts, levels of literacy and income of the users.

  • More importantly, the survey results indicated the need for imparting greater awareness among the general public regarding basic safety norms while using digital modes of payment.

From the next issue onwards, the RBI’s monthly Bulletin will be released around the 15th of every month.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/112

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The Central Government has nominated Shri Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India as a Director on the Central Board of Reserve Bank of India vice Shri Tarun Bajaj. The nomination of Shri Ajay Seth is effective from April 24, 2021 and until further orders.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/111

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Shivalik Small Finance Bank Limited has commenced operations as a small finance bank with effect from April 26, 2021.The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India.

Shivalik Mercantile Co-operative Bank Limited was granted an in-principle approval for transition into a small finance bank, as announced in the press release on January 6, 2020, under the “Scheme on voluntary transition of Urban Co-operative Bank into a Small Finance Bank” issued on September 27, 2018.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/110

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(Amount in Crore of ₹)
  SCHEDULED COMMERCIAL BANKS
(Including RRBs and SFBs)		 ALL SCHEDULED BANKS
10-APR-2020 26-MAR-2021* 09-APR-2021* 10-APR-2020 26-MAR-2021* 09-APR-2021*
I LIABILITIES TO THE BKG.SYSTEM (A)            
  a) Demand & Time deposits from bks. 243204.23 195866.03 187997.58 248681.2 200585.12 192869.33**
  b) Borrowings from banks 64665.43 40879.9 47714.16 64665.43 40885.9 47724.91
  c) Other demand & time liabilities 15384.73 17843.16 17934.8 15518.84 18058.73 18136.14
II LIABILITIES TO OTHERS (A)            
  a) Deposits (other than from banks) 13714590.46 15113528.5 15214885.53 14127927.99 15539930.88 15647256.78
  i) Demand 1476185.59 1861208.66 1743505.63 1511315.99 1899283.46 1782558.55
  ii) Time 12238404.87 13252319.83 13471379.93 12616612 13640647.41 13864698.27
  b) Borrowings@ 298683.93 244024.95 244596.09 303000.92 248168.2 249077.38
  c) Other demand & time liabilities 563511.15 656614.02 582898.65 576475.18 669452.3 594937.08
III BORROWINGS FROM R.B.I. (B) 255929.99 90274.68 89650.18 255929.99 90274.68 89650.18
  Against usance bills and / or prom. Notes            
IV CASH 86942.87 90747.64 86578.63 89373.95 92785.78 88517.48
V BALANCES WITH R.B.I. (B) 401620.93 542692.69 535652.09 414005.03 557951.44 550183.22
VI ASSETS WITH BANKING SYSTEM            
  a) Balances with other banks            
  i) In current accounts 17608.41 14233.47 20394.01 19875.06 16553.28 22918.3
  ii) In other accounts 143788.43 129067.92 126675.03 174473.12 162625.83 158174.2
  b) Money at call & short notice 20697.65 10653.82 8903.48 44083.64 36476 33689.67
  c) Advances to banks (i.e. due from bks.) 25099.97 16765.54 15760.91 26535.2 19910.15 18543.84£
  d) Other assets 56201.04 26985.72 29211.37 62937.21 29831.06 32136.05
VII INVESTMENTS (At book value) 3959153.62 4462525.64 4549319.92 4082485.78 4598840.67 4688280.35
  a) Central & State Govt. securities+ 3957997.86 4461631.6 4548183.81 4074907.52 4591812.14 4681064.28
  b) Other approved securities 1155.76 894.03 1136.11 7578.26 7028.53 7216.07
VIII BANK CREDIT (Excluding Inter Bank Advance) 10337903.85 10949511.97 10889179.15 10671777.35 11296771.25 11237924.55
  a) Loans, cash credits & Overdrafts$ 10124236.45 10736493.14 10674101.16 10455275.88 11081424.93 11020455.66
  b) Inland Bills purchased 24479.96 30531.2 30734.86 24970.25 30895.91 31118.32
  c) Inland Bills discounted 144587.83 127883.02 130056.69 146011.2 128831.04 131058.82
  d) Foreign Bills purchased 18004.66 20393.68 19925.15 18400.17 20762.13 20305.42
  e) Foreign Bills discounted 26594.95 34210.91 34361.21 27119.84 34857.22 34986.26
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 10-Apr-20 26-Mar-21 09-Apr-21
Scheduled Commercial Banks 54073.23 61254.38 49699.22
State Co-operative Banks 30407.88 30398.49 35819.17

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

Rupambara
Director   

Press Release: 2021-2022/109

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(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, 25/04/2021 1 Mon, 26/04/2021 6,644.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo – – – – –
3. MSF Sun, 25/04/2021 1 Mon, 26/04/2021 82.00 4.25
4. Long-Term Repo Operations –   –   –
5. Targeted Long Term Repo Operations – – – – –
6. Targeted Long Term Repo Operations 2.0 – – – – –
7. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -6,562.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Sat, 24/04/2021 2 Mon, 26/04/2021 5,969.00 3.35
  Fri, 23/04/2021 3 Mon, 26/04/2021 3,90,042.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 23/04/2021 14 Fri, 07/05/2021 2,00,017.00 3.47
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Sat, 24/04/2021 2 Mon, 26/04/2021 130.00 4.25
  Fri, 23/04/2021 3 Mon, 26/04/2021 149.00 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
D. Standing Liquidity Facility (SLF) Availed from RBI$       27,122.06  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -4,86,544.94  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -4,93,106.94  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 25/04/2021 5,40,821.66  
  24/04/2021 5,47,199.89  
     (ii) Average daily cash reserve requirement for the fortnight ending 07/05/2021 5,38,082.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 23/04/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 09/04/2021 7,12,322.00  
@ 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.
Rupambara
Director   
Press Release : 2021-2022/108

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(Amount in ₹ crore, Rate in Per cent)
  Volume
(One Leg)		 Weighted
Average Rate 		Range
A. Overnight Segment (I+II+III+IV) 438,417.18 3.18 0.01-3.50
     I. Call Money 11,074.66 3.21 1.90-3.50
     II. Triparty Repo 320,491.60 3.20 3.15-3.35
     III. Market Repo 106,850.92 3.09 0.01-3.35
     IV. Repo in Corporate Bond 0.00   –
B. Term Segment      
     I. Notice Money** 1,063.75 3.35 2.70-3.40
     II. Term Money@@ 465.00 – 3.25-3.60
     III. Triparty Repo 1,424.10 3.24 3.10-3.28
     IV. Market Repo 450.00 3.15 3.15-3.15
     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 Fri, 23/04/2021 3 Mon, 26/04/2021 390,042.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 23/04/2021 14 Fri, 07/05/2021 200,017.00 3.47
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo – – – – –
3. MSF Fri, 23/04/2021 3 Mon, 26/04/2021 149.00 4.25
4. Long-Term Repo Operations –   –   –
5. Targeted Long Term Repo Operations – – – – –
6. Targeted Long Term Repo Operations 2.0 – – – – –
7. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -589,910.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
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
D. Standing Liquidity Facility (SLF) Availed from RBI$       27,122.06  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     109,204.06  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -480,705.94  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 23/04/2021 552,892.93  
     (ii) Average daily cash reserve requirement for the fortnight ending 23/04/2021 537,119.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 23/04/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 09/04/2021 712,322.00  
@ 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.
Rupambara
Director   
Press Release : 2021-2022/107

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The Reserve Bank of India (RBI) has, by order dated April 23, 2021, imposed restrictions on American Express Banking Corp. and Diners Club International Ltd. from on-boarding new domestic customers onto their card networks from May 1, 2021. These entities have been found non-compliant with the directions on Storage of Payment System Data. This order will not impact existing customers.

American Express Banking Corp. and Diners Club International Ltd. are Payment System Operators authorised to operate Card Networks in the country under the Payment and Settlement Systems Act, 2007 (PSS Act).

The supervisory action has been taken in exercise of powers vested in RBI under Section 17 of the PSS Act.

Background

In terms of RBI circular on Storage of Payment System Data dated April 6, 2018, all Payment System Providers were directed to ensure that within a period of six months the entire data (full end-to-end transaction details / information collected / carried / processed as part of the message / payment instruction) relating to payment systems operated by them is stored in a system only in India. They were also required to report compliance to RBI and submit a Board-approved System Audit Report (SAR) conducted by a CERT-In empanelled auditor within the timelines specified therein.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/106

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The results of the auctions of 5.63% Government Stock 2026 (Re-Issue), GoI FRB 2033 (Re-Issue), 6.64% Government Stock 2035 (Re-Issue) and 6.67% Government Stock 2050 (Re-issue) held on April 23, 2021 are:

Auction Results 5.63% GS 2026 GoI FRB 2033* 6.64% GS 2035** 6.67% GS 2050***
I. Notified Amount ₹ 11000 Crore ₹ 4000 Crore ₹ 10000 Crore ₹ 7000 Crore
II. Underwriting Notified Amount ₹ 11000 Crore ₹ 4000 Crore ₹ 10000 Crore ₹ 7000 Crore
III. Competitive Bids Received        
(i) Number 329 97 314 91
(ii) Amount ₹ 38739.313 Crore ₹ 17973 Crore ₹ 35009 Crore ₹ 13634 Crore
IV. Cut-off price / Yield 0 98.40 99.22 98.34
(YTM: 0%) (YTM: 4.9309%) (YTM: 6.7265%) (YTM: 6.8%)
V. Competitive Bids Accepted        
(i) Number 0 11 71 8
(ii) Amount ₹ 0 Crore ₹ 4800 Crore ₹ 13210 Crore ₹ 3935 Crore
VI. Partial Allotment Percentage of Competitive Bids 0% 0% 0% 0%
(0 Bids) (0 Bids) (0 Bids) (0 Bids)
VII. Weighted Average Price/Yield 0 98.52 99.28 98.35
(WAY: 0.0000%) (WAY: 4.9177%) (WAY: 6.7198%) (WAY: 6.7992%)
VIII. Non-Competitive Bids Received        
(i) Number 4 2 10 5
(ii) Amount ₹ 8.201 Crore ₹ 0.097 Crore ₹ 45.648 Crore ₹ 13.282 Crore
IX. Non-Competitive Bids Accepted        
(i) Number 0 2 10 5
(ii) Amount ₹ 0 Crore ₹ 0.097 Crore ₹ 45.648 Crore ₹ 13.282 Crore
(iii) Partial Allotment Percentage 100% (0 Bids) 100% (0 Bids) 100% (0 Bids) 100% (0 Bids)
X. Amount of Underwriting accepted from primary dealers ₹ 11000 Crore ₹ 4000 Crore ₹ 10000 Crore –
XI. Devolvement on Primary Dealers 0 0 0 0
* Green shoe amount of ₹800.097 crore has been accepted
** Green shoe amount of ₹3,255.648 crore has been accepted
*** Partial amount of ₹3,948.282 crore has been accepted

Rupambara
Director   

Press Release: 2021-2022/105

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The Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

Sr. No Treasury Bill Notified Amount
(in ₹ crore)		 Auction Date Settlement date
1 91 Days 15,000 April 28, 2021
(Wednesday)		 April 29, 2021
(Thursday)
2 182 Days 15,000
3 364 Days 6,000
  Total 36,000    

The sale will be subject to the terms and conditions specified in the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 along with the Amendment Notification No.F.4(2)-W&M/2018 dated April 05, 2018, issued by Government of India, as amended from time to time. State Governments, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard, can participate on non-competitive basis, the allocation for which will be outside the notified amount. Individuals can also participate on non-competitive basis as retail investors. For retail investors, the allocation will be restricted to a maximum of 5 percent of the notified amount.

The auction will be Price based using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India’s Core Banking Solution (E-Kuber) system on Wednesday, April 28, 2021, during the below given timings:

Category Timing
Competitive bids 10:30 am – 11:30 am
Non-Competitive bids 10:30 am – 11:00 am

Results will be announced on the day of the auction.

Payment by successful bidders to be made on Thursday, April 29, 2021.

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595666, 022-27595415, 022-27523516). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Rupambara
Director   

Press Release: 2021-2022/104

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1. Reserve Bank of India – Liabilities and Assets*
(₹ Crore)
Item 2020 2021 Variation
Apr. 17 Apr. 9 Apr. 16 Week Year
1 2 3 4 5
4 Loans and Advances          
4.1 Central Government 135451 – – – -135451
4.2 State Governments 828 2355 5384 3029 4556
* Data are provisional.

2. Foreign Exchange Reserves
Item As on April 16, 2021 Variation over
Week End-March 2021 Year
₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn.
1 2 3 4 5 6 7 8
1 Total Reserves 4330087 582406 -13746 1193 111135 5422 667379 102838
1.1 Foreign Currency Assets 4019056 540585 -12617 1130 94888 3892 644212 98701
1.2 Gold 262843 35354 -1122 34 15120 1474 13259 2675
1.3 SDRs 11138 1498 -16 6 274 12 242 71
1.4 Reserve Position in the IMF 37051 4969 8 23 853 45 9666 1392
*Difference, if any, is due to rounding off

4. Scheduled Commercial Banks – Business in India
(₹ Crore)
Item Outstanding as on Apr. 9, 2021 Variation over
Fortnight Financial year so far Year-on-year
2020-21 2021-22 2020 2021
1 2 3 4 5 6
2 Liabilities to Others            
2.1 Aggregate Deposits 15214886 101357 147098 101357 1184427 1500295
2.1a Growth (Per cent)   0.7 1.1 0.7 9.5 10.9
2.1.1 Demand 1743506 -117703 -140818 -117703 107962 267320
2.1.2 Time 13471380 219060 287916 219060 1076465 1232975
2.2 Borrowings 244596 571 -10755 571 -73264 -54088
2.3 Other Demand and Time Liabilities 582899 -73715 -40165 -73715 81163 19388
7 Bank Credit 10889179 -60333 -32957 -60333 693118 551275
7.1a Growth (Per cent)   –0.6 –0.3 –0.6 7.2 5.3
7a.1 Food Credit 49699 -11555 2309 -11555 18143 -4374
7a.2 Non-food credit 10839480 -48778 -35266 -48778 674975 555649

6. Money Stock: Components and Sources
(₹ Crore)
Item Outstanding as on Variation over
2021 Fortnight Financial Year so far Year-on-Year
2020-21 2021-22 2020 2021
Mar. 26 Apr. 9 Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 18773048 18907383 134335 0.7 189612 1.1 134335 0.7 1569000 10.2 1917807 11.3
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 2757754 2787941 30186 1.1 39810 1.7 30186 1.1 303955 14.6 398382 16.7
1.2 Demand Deposits with Banks 1984261 1867606 -116655 -5.9 -141212 -8.1 -116655 –5.9 112793 7.6 271126 17.0
1.3 Time Deposits with Banks 13983686 14205545 221859 1.6 290095 2.3 221859 1.6 1140666 9.6 1241434 9.6
1.4 ‘Other’ Deposits with Reserve Bank 47347 46292 -1055 -2.2 919 2.4 -1055 –2.2 11586 41.6 6866 17.4
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 5692569 6045801 353232 6.2 405051 8.2 353232 6.2 835303 18.4 680388 12.7
2.1.1 Reserve Bank 982063 1246043 263980   178856   263980   288104   74995  
2.1.2 Other Banks 4710506 4799759 89252 1.9 226195 5.7 89252 1.9 547199 15.0 605394 14.4
2.2 Bank Credit to Commercial Sector 11610050 11552069 -57981 -0.5 -47361 -0.4 -57981 –0.5 740777 7.2 560786 5.1
2.2.1 Reserve Bank 8524 8672 147   -5554   147   -1453   1060  
2.2.2 Other Banks 11601526 11543398 -58129 -0.5 -41807 -0.4 -58129 –0.5 742230 7.2 559726 5.1

8. Liquidity Operations by RBI
(₹ Crore)
Date Liquidity Adjustment Facility MSF* Standing Liquidity Facilities Market Stabilisation Scheme OMO (Outright) Long Term Repo Operations & Targeted Long Term Repo Operations# Special Liquidity Facility for Mutual Funds Special Liquidity Scheme for NBFCs/ HFCs** Net Injection (+)/ Absorption (-) (1+3+5+6+
9+10+11+
12+13-
2-4-7-8)
Repo Reverse Repo* Variable Rate Repo Variable Rate Reverse Repo Sale Purchase
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Apr. 12, 2021 – 447338 – – 180 –2000 – – – – – – – -449158
Apr. 13, 2021 – 18839 – – 1299 – – – – – – – – -17540
Apr. 14, 2021 – 35651 – – 1804 – – – – – – – – -33847
Apr. 15, 2021 – 499304 – – 108 2000 – – – – – – – -497196
Apr. 16, 2021 – 464632 – – 210 –4000 – – 25000 – – – – -443422
Apr. 17, 2021 – 30080 – – 759 – – – – – – – – -29321
Apr. 18, 2021 – 3600 – – 72 – – – – – – – – -3528
*Includes additional Reverse Repo and additional MSF operations (for the period December 16, 2019 to February 13, 2020)
#Includes Targeted Long Term Repo Operations (TLTRO), Targeted Long Term Repo Operations 2.0 (TLTRO 2.0) and On Tap Targeted Long Term Repo Operations. Negative (-) sign indicates repayments done by Banks.
**As per RBI Notification No. 2020-21/01 dated July 01, 2020. Negative (-) sign indicates maturity proceeds received for RBI’s investment in the Special Liquidity Scheme.
& Negative (-) sign indicates repayments done by Banks.

The above information can be accessed on Internet at https://wss.rbi.org.in/

The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762).

Time series data are available at https://dbie.rbi.org.in

Rupambara
Director   

Press Release: 2021-2022/103

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