Category: Press Releases

Sr. No. State/ UT Notified Amount (₹ Cr) Amount Accepted (₹ Cr) Cut off Yield (%) Tenure (Yrs) 1. Jammu and Kashmir 500 500 6.78 12 2. Meghalaya 200 200 6.82 10 3. Rajasthan 1000 1000 6.78 10   Total 1700 1700     Rupambara Director    Press Release: 2021-2022/52

April 14, 2015

Dear All

Welcome to the refurbished site of the Reserve Bank of India.

The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.

With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.

The site can be accessed through most browsers and devices; it also meets accessibility standards.

Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.

Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.

Thank you for your continued support.

Department of Communication

Reserve Bank of India

Next

Government of India has announced the sale (re-issue) of Government Stock detailed below through auctions to be held on April 16, 2021. As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under: (₹ in crore) Security Notified Amount Minimum Underwriting Commitment (MUC) amount per PD Minimum bidding commitment per PD under ACU auction 3.96% GS 2022 3,000 72 72 5.85% GS 2030 14,000 334 334 6.76% GS 2061 9,000 215 215 The underwriting auction will be conducted through multiple price-based method on April 16, 2021 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E- Kuber) System between 09:00 A.M. and 09:30 A.M. on the date of underwriting auction. The underwriting commission will be credited to the current account of the respective PDs with RBI on the date of issue of securities. Rupambara Director    Press Release : 2021-2022/50

(Amount in ₹ crore, Rate in Per cent)   Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 445,448.26 3.14 0.01-5.30      I. Call Money 8,994.37 3.21 1.90-3.50      II. Triparty Repo 328,474.30 3.19 3.00-3.25      III. Market Repo 106,635.59 3.00 0.01-3.40      IV. Repo in Corporate Bond 1,344.00 3.42 3.30-5.30 B. Term Segment            I. Notice Money** 1,383.62 3.20 2.40-3.50      II. Term Money@@ 146.00 – 3.20-3.40      III. Triparty Repo 0.00 – –      IV. Market Repo 60.00 1.00 1.00-1.00      V. Repo in Corporate Bond 1,550.00 3.40 3.40-3.40

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, 12/04/2021 3 Thu, 15/04/2021 447,338.00 3.35 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo – – – – – 3. MSF Mon, 12/04/2021 3 Thu, 15/04/2021 180.00 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 (-)]*       -447,158.00   II. Outstanding Operations 1. Fixed Rate                (i) Repo                (ii) Reverse Repo           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo Fri, 09/04/2021 14 Fri, 23/04/2021 200,017.00 3.48   (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$       29,122.06   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -88,812.94   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -535,970.94   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 12/04/2021 580,444.78        (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¥ 12/04/2021 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 26/03/2021 808,301.00   @ 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 : 2021-2022/49

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	3.96% GS 2022	Nov 09, 2022	3,000	F.No.4(3)-B(W&M)/2021 dated April 12, 2021	April 16, 2021 (Friday)	April 19, 2021 (Monday)
2	5.85% GS 2030	Dec 01, 2030	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. 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 April 16, 2021. 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 April 19, 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 April 16, 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 April 15, 2021 – April 16, 2021.

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

Rupambara
Director   

Press Release: 2021-2022/48

---

ANNEX

Type of Auction

1. The auction will be a multiple price-based auction i.e. successful bids will get accepted at their respective quoted price for the security.

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).

The Governor, Reserve Bank of India (RBI) held meetings with the MD/CEOs of Public Sector Banks and select Private Sector Banks on April 12, 2021 through video conference. The meetings were attended by Deputy Governors Shri M. K. Jain, Shri M. Rajeswar Rao and a few other senior officials of RBI. In his opening remarks, the Governor highlighted the recent policy measures taken by the RBI to further support the ongoing recovery while preserving financial stability. In this backdrop, he touched upon the importance of credit flows in sustaining the nascent economic recovery and advised the banks to remain watchful of the evolving situation and continue taking measures proactively for maintaining their business continuity, sharpening business strategies and raising adequate capital for strengthening balance sheets. He also emphasised the need for banks to maintain close vigil on the payments and other IT systems operated by banks and fortifying those for enhanced efficiency and resilience so as to offer seamless and uninterrupted customer service. Among other matters, the following issues were discussed in the meeting: Progress in the implementation of Covid Resolution Framework; Outlook on stresses assets; Capital augmentation; Liquidity scenario & Monetary transmission; Credit flows to different sectors including to stressed sectors, MSMEs, retail, etc. (Yogesh Dayal)      Chief General Manager Press Release: 2021-2022/47

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹5,00,000/- (Five Lakh Rupees) on The Bihar Awami Co-operative Bank Ltd. in exercise of powers vested in it under the provisions of Section 47 A read with Section 46 (4) and Section 56 of the Banking Regulation Act, 1949 (AACS) for violation of the extant directions on Know Your Customer and guidelines in the matter of exchange of Specified Bank Notes, issued by the Reserve Bank of India. The Reserve Bank of India had issued a show cause notice and also provided an opportunity of personal hearing to the bank, in response to which the bank submitted a written reply. After considering the facts of the case and the bank’s reply in the matter, the Reserve Bank came to the conclusion that the violations were substantiated and warranted imposition of penalty. 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. (Yogesh Dayal)      Chief General Manager Press Release: 2021-2022/46

April 14, 2015

Dear All

Welcome to the refurbished site of the Reserve Bank of India.

The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.

With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.

The site can be accessed through most browsers and devices; it also meets accessibility standards.

Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.

Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.

Thank you for your continued support.

Department of Communication

Reserve Bank of India

Next

A technical upgrade of RTGS, targeted to enhance the resilience and to further improve the Disaster Recovery Time of the RTGS system, is scheduled after the close of business of April 17, 2021. Accordingly, RTGS service will not be available from 00:00 hrs to 14.00 hrs on Sunday, April 18, 2021. The NEFT system will continue to be operational as usual during this period. Member banks may inform their customers to plan their payment operations accordingly. RTGS Members will continue to receive event update(s) through system broadcasts. (Yogesh Dayal)      Chief General Manager Press Release: 2021-2022/44

(Amount in Crore of ₹)   SCHEDULED COMMERCIAL BANKS (Including RRBs and SFBs) ALL SCHEDULED BANKS 27-MAR-2020 12-MAR-2021* 26-MAR-2021* 27-MAR-2020 12-MAR-2021* 26-MAR-2021* I LIABILITIES TO THE BKG.SYSTEM (A)               a) Demand & Time deposits from bks. 234348.32 190878.13 196241.82 239943.36 195477.34 200960.91**   b) Borrowings from banks 64001.4 37822.6 40864.9 64001.4 37972.58 40870.9   c) Other demand & time liabilities 16163.35 17870.79 17896.17 16294.78 18392.91 18111.74 II LIABILITIES TO OTHERS (A)               a) Deposits (other than from banks) 13567492.12 14955804.73 15113177.73 13975550.86 15374901.7 15539580.11   i) Demand 1617003.14 1696362.33 1861203.27 1653241.96 1733207.81 1899278.07   ii) Time 11950488.98 13259442.45 13251974.42 12322308.9 13641693.93 13640302   b) Borrowings@ 309438.68 243287.75 244385.46 313907.93 247629.93 248528.71   c) Other demand & time liabilities 603675.9 637413.72 650699.4 616490.71 649551.47 663537.68 III BORROWINGS FROM R.B.I. (B) 286442.99 84615.68 90274.68 286442.99 84615.68 90274.68   Against usance bills and / or prom. Notes             IV CASH 87260.32 91794.75 90752.01 89671.31 93802.17 92790.15 V BALANCES WITH R.B.I. (B) 505130.9 461182.2 542692.69 519410.78 473734.22 557951.44 VI ASSETS WITH BANKING SYSTEM               a) Balances with other banks               i) In current accounts 14456.57 14814.96 14234.88 17203.76 17161.03 16554.69   ii) In other accounts 140944.59 125352.34 129067.92 164255.95 158398.51 162625.83   b) Money at call & short notice 20273.09 8931.23 10653.82 43334.73 32924.1 36476   c) Advances to banks (i.e. due from bks.) 30531.5 16637.54 16765.37 38266.3 19921.84 19909.98£   d) Other assets 54031.96 24749.91 26985.97 60619.49 27738.8 29831.31 VII INVESTMENTS (At book value) 3747349.13 4515011.06 4462520.64 3865543.51 4649447.66 4598835.67   a) Central & State Govt. securities+ 3738696.15 4513933.42 4461626.6 3850819.11 4641929.8 4591807.14   b) Other approved securities 8652.99 1077.64 894.03 14724.4 7517.86 7028.53 VIII BANK CREDIT (Excluding Inter Bank Advance) 10370860.68 10795818.31 10951561.13 10705336.37 11136983.88 11298820.41   a) Loans, cash credits & Overdrafts$ 10149508.76 10607102.74 10738541.31 10480933.63 10941356.43 11083473.1   b) Inland Bills purchased 25657.57 26190.97 30531.2 26214.04 26528.06 30895.91   c) Inland Bills discounted 145683.01 112138.93 127883.18 147209.43 113053.75 128831.2   d) Foreign Bills purchased 20457.6 19363.14 20394.47 20865.53 19652.6 20762.92   e) Foreign Bills discounted 29553.75 31022.62 34210.94 30113.75 36393.12 34857.25 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 27-Mar-20 12-Mar-21 26-Mar-21 Scheduled Commercial Banks 51763.97 69192.4 61254.38 State Co-operative Banks 30408.52 30398.49 30398.49 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 : 2021-2022/42