Category: Press Releases

A. OMO PURCHASE ISSUE Security 5.15% GS 2025 7.17% GS 2028 5.85% GS 2030 7.57% GS 2033 Total amount notified (₹ in crore) Aggregate amount of ₹20,000 crore (no security-wise notified amount) Total amount (face value) accepted by RBI (₹ in crore) 4,161 6,054 6,468 3,317 Cut off yield (%) 5.8231 6.5130 6.1778 6.8141 Cut off price (₹) 97.28 103.56 97.62 106.20 B. OMO SALE ISSUE Security 8.79% GS 2021 8.20% GS 2022 8.35% GS 2022 Total amount notified (₹ in crore) Aggregate amount of ₹15,000 crore (no security-wise notified amount) Total amount (face value) accepted by RBI (₹ in crore) 3,400 6,295 1,200 Cut off yield (%) 3.8635 4.0236 4.1907 Cut off price (₹) 103.15 103.75 104.70 Detailed results will be issued shortly. Ajit Prasad Director    Press Release: 2020-2021/1219

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹4,000 Crore ₹7,000 Crore ₹8,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 99.1966 (YTM: 3.2485%) 98.2940 (YTM: 3.4808%) 96.3025 (YTM: 3.8500%) IV. Total Face Value Accepted ₹4,000 Crore ₹7,000 Crore ₹8,000 Crore Ajit Prasad Director    Press Release: 2020-2021/1218

(Amount in ₹ crore, Rate in Per cent)   Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 3,87,073.35 3.22 0.01-5.30      I. Call Money 8,942.77 3.17 1.90-3.40      II. Triparty Repo 2,84,475.30 3.26 3.20-3.35      III. Market Repo 91,790.28 3.11 0.01-3.40      IV. Repo in Corporate Bond 1,865.00 3.43 3.40-5.30 B. Term Segment            I. Notice Money** 200.90 3.20 2.50-3.35      II. Term Money@@ 934.00 – 3.10-3.90      III. Triparty Repo 0.00 – –      IV. Market Repo 485.86 3.22 2.50-3.40      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 Tue, 09/03/2021 1 Wed, 10/03/2021 4,96,861.00 3.35 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo – – – – – 3. MSF Tue, 09/03/2021 1 Wed, 10/03/2021 0.00 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 (-)]*       -4,96,861.00   II. Outstanding Operations 1. Fixed Rate                (i) Repo                (ii) Reverse Repo           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo Fri, 26/02/2021 14 Fri, 12/03/2021 2,00,010.00 3.50   (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 D. Standing Liquidity Facility (SLF) Availed from RBI$       32,867.06   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -90,060.94   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -5,86,921.94   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 09/03/2021 4,31,710.53        (ii) Average daily cash reserve requirement for the fortnight ending 12/03/2021 4,49,720.00   H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 09/03/2021 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 12/02/2021 8,49,099.00   @ 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. 2014-2015/1971 dated March 19, 2015. Ajit Prasad Director    Press Release : 2020-2021/1217

Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months subject to review, vide Directive dated October 26, 2018. The validity of the directions was last extended vide Directive dated December 7, 2020 for three months up to March 09, 2021, subject to review. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A of Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive dated October 26, 2018, issued to the above bank, the validity of which was last extended up to March 09, 2021, shall continue to apply to the bank for a further period of three months from March 10, 2021 to June 09, 2021, vide Directive dated March 09, 2021, subject to review. All the other terms and conditions of the Directive under reference shall remain unchanged. A copy of the above Directive dated March 09, 2021 notifying the extension is displayed at the bank’s premises for the perusal of public. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank. (Yogesh Dayal)      Chief General Manager Press Release: 2020-2021/1216

The Result of the auction of State Development Loans for 14 State Governments held on March 09, 2021. Table (₹ in crore)   GUJARAT 2031* JHARKHAND 2036 KARNATAKA 2038 KARNATAKA 2037 Notified Amount 1000 1000 1000 1000 Underwriting Notified Amount NIL NIL NIL NIL Tenure 10 15 17 16 Competitive Bids Received         (i) No. 151 67 88 99 (ii) Amount 5608 4180 5473 5878 Cut-off Yield (%) 7.08 7.28 7.24 7.24 Competitive Bids Accepted         (i) No. 15 22 14 16 (ii) Amount 1350 980.898 954.014 958.998 Partial Allotment Percentage of Competitive Bids         (i) Percentage 62.5 7.2563 23.9591 77.3679 (ii) No. (5 bids) (7 bids) (6 bids) (6 bids) Non – Competitive Bids Received         (i) No. 23 6 6 5 (ii) Amount 185.299 19.102 45.986 41.002 Non-Competitive Price 100.11 100.32 100.17 100.17 Non-Competitive Bids Accepted         (i) No. 23 6 6 5 (ii) Amount 150 19.102 45.986 41.002 Partial Allotment Percentage of Non-Competitive Bids         (i) Percentage 80.9503 – – – (ii) No. (23 bids) – – – Weighted Average Yield (%) 7.0651 7.2447 7.2224 7.2224 Amount of Underwriting Accepted from Primary Dealers NIL NIL NIL NIL Devolvement on Primary Dealers NIL NIL NIL NIL Total Allotment Amount 1500 1000 1000 1000   KARNATAKA 2039 MAHARASHTRA 2029** MANIPUR 2031 MIZORAM 2033 Notified Amount 1000 1500 120 30 Underwriting Notified Amount NIL NIL NIL NIL Tenure 18 8 10 12 Competitive Bids Received         (i) No. 85 145 34 11 (ii) Amount 4293 11902 885 180 Cut-off Yield (%) 7.29 7.02 7.18 7.27 Competitive Bids Accepted         (i) No. 44 18 8 5 (ii) Amount 973.398 1884.996 117.799 29.998 Partial Allotment Percentage of Competitive Bids         (i) Percentage 97.4853 56.7002 63.995 26.8796 (ii) No. (9 bids) (7 bids) (2 bids) (4 bids) Non – Competitive Bids Received         (i) No. 4 11 4 1 (ii) Amount 26.602 115.004 2.201 0.002 Non-Competitive Price 100.24 100.12 100.18 100.01 Non-Competitive Bids Accepted         (i) No. 4 11 4 1 (ii) Amount 26.602 115.004 2.201 0.002 Partial Allotment Percentage of Non-Competitive Bids         (i) Percentage – – – – (ii) No. – – – – Weighted Average Yield (%) 7.2662 7.0004 7.1545 7.2683 Amount of Underwriting Accepted from Primary Dealers NIL NIL NIL NIL Devolvement on Primary Dealers NIL NIL NIL NIL Total Allotment Amount 1000 2000 120 30   PUNJAB 2036*** PUNJAB 2028 RAJASTHAN 2025 RAJASTHAN 2024 Notified Amount 500 1056 500 500 Underwriting Notified Amount NIL NIL NIL NIL Tenure 15 7 4 3 Competitive Bids Received         (i) No. 35 61 37 40 (ii) Amount 2445.7 5423 2987 3362 Cut-off Yield (%) – 7.02 5.93 5.42 Competitive Bids Accepted         (i) No. – 11 1 1 (ii) Amount – 1029 488.999 484.987 Partial Allotment Percentage of Competitive Bids         (i) Percentage – 75.2 97.7998 96.9974 (ii) No. – (2 bids) (1 bid) (1 bid) Non – Competitive Bids Received         (i) No. 4 2 4 4 (ii) Amount 12.012 27 11.001 15.013 Non-Competitive Price 0 100.11 100 100 Non-Competitive Bids Accepted         (i) No. – 2 4 4 (ii) Amount – 27 11.001 15.013 Partial Allotment Percentage of Non-Competitive Bids         (i) Percentage – – – – (ii) No. – – – – Weighted Average Yield (%) – 6.9996 5.93 5.42 Amount of Underwriting Accepted from Primary Dealers NIL NIL NIL NIL Devolvement on Primary Dealers NIL NIL NIL NIL Total Allotment Amount 0 1056 500 500   RAJASTHAN 2031 SIKKIM 2031 TAMILNADU 2030 TELANGANA 2051 Notified Amount 1310 46 2500 1050 Underwriting Notified Amount NIL NIL NIL NIL Tenure 10 10 Re-issue of 6.66% Tamil Nadu SDL 2030 issued on August 26, 2020 30 Competitive Bids Received         (i) No. 139 20 205 30 (ii) Amount 8708 300 11484.5 3905 Cut-off Yield (%) 7.13 7.18 7.1152 7.2 Competitive Bids Accepted         (i) No. 7 5 34 1 (ii) Amount 1179 45.997 2298.222 1042.975 Partial Allotment Percentage of Competitive Bids         (i) Percentage 85.6934 36.6155 43.3591 99.8062 (ii) No. (6 bids) (3 bids) (4 bids) (1 bid) Non – Competitive Bids Received         (i) No. 20 1 16 3 (ii) Amount 206.896 0.003 201.778 7.025 Non-Competitive Price 100 100.09 97.04 100 Non-Competitive Bids Accepted         (i) No. 20 1 16 3 (ii) Amount 131 0.003 201.778 7.025 Partial Allotment Percentage of Non-Competitive Bids         (i) Percentage 63.3168 – – – (ii) No. (19 bids) – – – Weighted Average Yield (%) 7.1299 7.167 7.0942 7.2 Amount of Underwriting Accepted from Primary Dealers NIL NIL NIL NIL Devolvement on Primary Dealers NIL NIL NIL NIL Total Allotment Amount 1310 46 2500 1050   TRIPURA 2036 UTTAR PRADESH 2031 WEST BENGAL 2041 Total Notified Amount 61 5500 2000 21673 Underwriting Notified Amount NIL NIL NIL   Tenure 15 10 20   Competitive Bids Received         (i) No. 9 328 43 1627 (ii) Amount 245 20241.5 7343 104843.7 Cut-off Yield (%) 7.29 7.17 7.25   Competitive Bids Accepted         (i) No. 1 37 6 246 (ii) Amount 61 4950 1986.999 20817.28 Partial Allotment Percentage of Competitive Bids         (i) Percentage – 84.0116 94.7996   (ii) No. – (16 bids) (1 bid)   Non – Competitive Bids Received         (i) No. – 25 4 143 (ii) Amount – 582.233 13.001 1511.16 Non-Competitive Price 100 100.07 100.2   Non-Competitive Bids Accepted         (i) No. – 25 4 139 (ii) Amount – 550 13.001 1355.72 Partial Allotment Percentage of Non-Competitive Bids         (i) Percentage – 94.4639 –   (ii) No. – (24 bids) –   Weighted Average Yield (%) 7.29 7.1603 7.2311   Amount of Underwriting Accepted from Primary Dealers NIL NIL NIL   Devolvement on Primary Dealers NIL NIL NIL   Total Allotment Amount 61 5500 2000 22173 * Gujarat has accepted an additional amount of ₹500 crore. ** Maharashtra has accepted an additional amount of ₹500 crore. *** Punjab has not accepted any amount in the 15 year security Ajit Prasad Director    Press Release: 2020-2021/1215

Sr. No. State/ UT Notified amount (₹ Cr) Amount Accepted (₹ Cr) Cut off Price/ Yield (%) Tenure (Yrs) 1. Gujarat* 1000 1500 7.08 10 2. Jharkhand 1000 1000 7.28 15 3. Karnataka 1000 1000 7.24 16 1000 1000 7.24 17 1000 1000 7.29 18 4. Maharashtra** 1500 2000 7.02 8 5. Manipur 120 120 7.18 10 6. Mizoram 30 30 7.27 12 7. Punjab*** 1056 1056 7.02 7 500 – NA 15 8. Rajasthan 500 500 5.42 3 500 500 5.93 4 1310 1310 7.13 10 9. Sikkim 46 46 7.18 10 10. Tamil Nadu 2500 2500 96.90/7.1152 Re-issue of 6.66% Tamil Nadu SDL 2030 Issued on August 26, 2020 11. Telangana 1050 1050 7.20 30 12. Tripura 61 61 7.29 15 13. Uttar Pradesh 5500 5500 7.17 10 14. West Bengal 2000 2000 7.25 20   Total 21673 22173     * Gujarat has accepted an additional amount of ₹500 crore. ** Maharashtra has accepted an additional amount of ₹500 crore. *** Punjab has not accepted any amount in the 15 year security. Ajit Prasad Director    Press Release: 2020-2021/1214

(Amount in ₹ crore, Rate in Per cent)   Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 3,74,429.19 3.21 0.01-5.30      I. Call Money 6,827.26 3.12 1.90-3.40      II. Triparty Repo 2,68,094.75 3.25 3.01-3.40      III. Market Repo 99,482.18 3.11 0.01-3.40      IV. Repo in Corporate Bond 25.00 5.30 5.30-5.30 B. Term Segment            I. Notice Money** 204.05 2.95 2.50-3.35      II. Term Money@@ 236.45 – 3.25-3.99      III. Triparty Repo 0.00 – –      IV. Market Repo 394.00 2.20 0.01-3.10      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 Mon, 08/03/2021 1 Tue, 09/03/2021 4,71,854.00 3.35 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo – – – – – 3. MSF Mon, 08/03/2021 1 Tue, 09/03/2021 0.00 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 (-)]*       -4,71,854.00   II. Outstanding Operations 1. Fixed Rate                (i) Repo                (ii) Reverse Repo           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo Fri, 26/02/2021 14 Fri, 12/03/2021 2,00,010.00 3.50   (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 D. Standing Liquidity Facility (SLF) Availed from RBI$       32,842.06   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -90,085.94   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -5,61,939.94   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 08/03/2021 4,31,080.18        (ii) Average daily cash reserve requirement for the fortnight ending 12/03/2021 4,49,720.00   H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 08/03/2021 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 12/02/2021 8,49,099.00   @ 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. 2014-2015/1971 dated March 19, 2015. Ajit Prasad Director    Press Release : 2020-2021/1213

Government of India (GOI) has announced the sale (re-issue) of four dated securities for a notified amount of ₹24,000 crore as per the following details:

Sr No	Security	Date of repayment	Notified Amount (₹ crore)	GoI specific Notification	Auction Date	Settlement Date
1	4.48% GS 2023	Nov. 02, 2023	4,000	F.No.4(5)-B (W&M)/2020 dated March 08, 2021	March 12, 2021 (Friday)	March 15, 2021 (Monday)
2	GoI FRB 2033*	Sep. 22, 2033	4,000
3	6.22% GS 2035	Mar. 16, 2035	11,000
4	6.67% GS 2050	Dec. 17, 2050	5,000
	Total		24,000
*The base rate for the coupon payment for the period ending March 21, 2021 shall be 3.48 per cent per annum.

2. GOI will have the option to retain additional subscription up to ₹2000 crore against each security mentioned above.

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 multiple price method for all the securities. 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 12, 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 March 15, 2021 (Monday).

5. Underwriting will be conducted for 4.48% GS 2023, GOI FRB 2033 and 6.22% GS 2035. 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 March 12, 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 March 09, 2021 – March 12, 2021.

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

Ajit Prasad
Director   

Press Release: 2020-2021/1212

---

ANNEX

Type of Auction

1. For multiple price-based auction, successful bids will get accepted at the respective quoted price for the security. For uniform price-based auction, successful bids will get accepted at the cut off 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).

The Reserve Bank of India (RBI) has imposed, by an order dated March 08, 2021, a monetary penalty of Rupees Five Thousand only on Walchandnagar Sahakari Bank Ltd., Pune (the bank) for contravention of the provisions of the Credit Information Companies (Regulation) Act, 2005 (CIC Act) and RBI directions on membership of Credit Information Companies by Co-operative Banks. This penalty has been imposed in exercise of powers conferred upon RBI under the provisions of Section 25 (1) (iii) read with Section 23 (4) of the CIC Act, taking into account the failure of the bank to comply with the provisions of the CIC Act and aforesaid directions issued by RBI. The action is based on deficiencies in statutory/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 that the bank had failed to obtain membership of any of the four credit information companies. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the provisions of the CIC Act and RBI directions. After considering the facts of the case, RBI came to the conclusion that the aforesaid charge of non-compliance with the provisions of CIC Act and RBI directions was substantiated and warranted imposition of monetary penalty. (Yogesh Dayal)      Chief General Manager Press Release: 2020-2021/1211

(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, 07/03/2021 1 Mon, 08/03/2021 3,830.00 3.35 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo – – – – – 3. MSF Sun, 07/03/2021 1 Mon, 08/03/2021 509.00 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 (-)]*       -3,321.00   II. Outstanding Operations 1. Fixed Rate                (i) Repo                (ii) Reverse Repo Sat, 06/03/2021 2 Mon, 08/03/2021 23,493.00 3.35   Fri, 05/03/2021 3 Mon, 08/03/2021 4,87,208.00 3.35 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo Fri, 26/02/2021 14 Fri, 12/03/2021 2,00,010.00 3.50   (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo           3. MSF Sat, 06/03/2021 2 Mon, 08/03/2021 1,674.00 4.25   Fri, 05/03/2021 3 Mon, 08/03/2021 31.00 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 D. Standing Liquidity Facility (SLF) Availed from RBI$       32,842.06   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -5,99,081.94   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -6,02,402.94   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 07/03/2021 4,38,806.10        (ii) Average daily cash reserve requirement for the fortnight ending 12/03/2021 4,49,720.00   H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 05/03/2021 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 12/02/2021 8,49,099.00   @ 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. 2014-2015/1971 dated March 19, 2015. Ajit Prasad Director    Press Release : 2020-2021/1210