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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 Ajit Prasad Press Release : 2020-2021/1239 |
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The following State Governments have offered to sell securities by way of an auction, for an aggregate amount of ₹23,749 Cr. (Face Value).
| Sr. No. | State | Amount to be raised (₹ Cr) | Additional Borrowing (Green shoe) Option (₹ Cr) | Tenure (Yrs) | Type of Auction |
| 1. | Assam | 500 | – | 5 | Yield |
| 630 | – | 6 | Yield | ||
| 2. | Bihar | 323 | – | 4 | Yield |
| 3. | Chhattisgarh | 1000 | – | 8 | Yield |
| 4. | Goa | 100 | – | 10 | Yield |
| 5. | Gujarat | 1500 | 500 | 10 | Yield |
| 6. | Haryana | 500 | – | 10 | Yield |
| 7. | Karnataka | 1000 | – | 7 | Yield |
| 1000 | – | 18 | Yield | ||
| 1000 | – | 19 | Yield | ||
| 8. | Kerala | 1000 | – | 3 | Yield |
| 9. | Madhya Pradesh | 3000 | – | 4 | Yield |
| 10. | Meghalaya | 58 | – | 10 | Yield |
| 11. | Punjab | 500 | – | Re-issue of 7.02% Punjab SDL 2028 Issued on March 10, 2021 | Price |
| 12. | Rajasthan | 1638 | – | 10 | Yield |
| 13. | Tamil Nadu | 2500 | – | Re-issue of 6.73% Tamil Nadu SDL 2030 Issued on May 13, 2020 | Price |
| 14. | Uttar Pradesh | 5500 | – | 10 | Yield |
| 15. | West Bengal | 2000 | – | 15 | Yield |
| Total | 23749 |
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on March 16, 2021 (Tuesday). The Government Stock up to 10% of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility.
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 March 16, 2021 (Tuesday). 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.
In case of technical difficulties, Core Banking Operations Team (email; Phone no: 022-27595666, 022-27595415, 022-27523516) may be contacted.
For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).
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.
The yield percent per annum expected by the bidder should be expressed up to two decimal points. An investor can submit more than one competitive bid at same/different rates of yield or prices in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a bidder should not exceed the notified amount for each State.
The Reserve Bank of India will determine the maximum yield /minimum price at which bids will be accepted. Securities will be issued for a minimum nominal amount of ₹10,000.00 and multiples of ₹10,000.00 thereafter.
The results of the auction will be announced on March 16, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on March 17, 2021 (Wednesday) at Mumbai and at respective Regional Offices of RBI.
The State Government Stocks will bear interest at the rates determined by RBI at the auctions. For the new securities, interest will be paid half yearly on September 17 and March 17 of each year till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007.
The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility.
Ajit Prasad
Director
Press Release: 2020-2021/1238
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The results of the auctions of 4.48% Government Stock, 2023 (Re-Issue), GOI FRB, 2033 (Re-Issue), 6.22% Government Stock, 2035 (Re-Issue) and 6.67% Government Stock, 2050 (Re-Issue) held on March 12, 2021 are:
Ajit Prasad Press Release: 2020-2021/1237 |
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The Reserve Bank of India (RBI) has imposed, by an order dated March 10, 2021, a monetary penalty of ₹1.00 lakh on the United India Co-operative Bank Limited, Nagina (the bank) for contravention of section 27 read with section 56 of the Banking Regulation Act, 1949. 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 Reserve Bank of India (RBI), vide its various emails and letters, advised the bank to submit various returns to RBI. However, the bank failed to submit the returns within the time limit stipulated. Based on the same a show cause notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions. After considering the bank’s reply, RBI came to the conclusion that the aforesaid charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty. (Yogesh Dayal) Press Release: 2020-2021/1236 |
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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 Ajit Prasad Press Release: 2020-2021/1235 |
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Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:
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, March 17, 2021, during the below given timings:
Results will be announced on the day of the auction. Payment by successful bidders to be made on Thursday, March 18, 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). Ajit Prasad Press Release: 2020-2021/1234 |
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Ajit Prasad Press Release: 2020-2021/1233 |
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Ajit Prasad Press Release: 2020-2021/1232 |
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In the underwriting auctions conducted on March 12, 2021 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:
Ajit Prasad Press Release : 2020-2021/1230 |
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