Category: Press Releases

The rate of interest on the Floating Rate Bonds, 2024 (FRB 2024) applicable for the half year November 07, 2021 to May 06, 2022 shall be 3.80 percent per annum.

It may be recalled that the rate of interest on the FRB, 2024 shall be reset at the average rate (rounded off up to two decimal places) of the implicit yields, at the cut-off prices of the last three auctions of Government of India 182-days Treasury Bills, held up to the period preceding the coupon reset date, which is November 07, 2021. The implicit yields will be computed by reckoning 365 days in a year.

Ajit Prasad
Director   

Press Release: 2021-2022/1145

The Reserve Bank of India (RBI) joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as a Member on April 23, 2021, to benefit from the membership of NGFS by learning from and contributing to global efforts on Green Finance.

2. In this regard, on the occasion of the 2021 United Nations Climate Change Conference (COP26), NGFS has reiterated its willingness to contribute to the global response required to meet the objectives of the Paris Agreement, and, to that end, NGFS will expand and strengthen the collective efforts towards greening the financial system. Accordingly, the Reserve Bank of India, has today published its ‘Statement of Commitment to Support Greening India’s Financial System – NGFS’. The Statement is available here.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/1143

Ajit Prasad
Director   

Press Release: 2021-2022/1142

As announced in the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 07, 2021, Reserve Bank of India had, on April 19, 2021, announced the constitution of a Committee to undertake a comprehensive review of the legal and regulatory framework applicable to Asset Reconstruction Companies (ARCs) under the chairmanship of Shri Sudarshan Sen, former Executive Director, Reserve Bank of India. The terms of reference of the Committee were to examine the issues and recommend suitable measures for enabling the ARCs to meet the growing requirements of the financial sector.

The Committee has since submitted its report and the same is being placed on the RBI website today for comments of stakeholders and members of the public. Comments may be submitted by December 15, 2021 through email. RBI will examine them before taking a final view on the recommendations made by the Committee.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/1140

The Governor, Reserve Bank of India held separate meetings with the MD&CEOs of Public Sector Banks and certain Private Sector Banks on November 2, 2021 through video conference. The meetings were attended by Deputy Governors Shri M. K. Jain, Shri M. Rajeshwar Rao and Shri T. Rabi Sankar.

In his opening remarks, the Governor acknowledged the improved financial and operational resilience of the banking sector which impart strength to financial stability. He emphasised the need for banks to continue providing necessary support in the revival of economic activity. He also advised the banks to remain vigilant to any emerging signs of vulnerabilities and take timely remedial measures to mitigate the risks and maintain the stability of not only the institutions themselves but also of the overall financial system.

Among other matters, the following issues were discussed in the meetings:

1. Credit flows, especially to micro and small enterprises;

2. Outlook for stressed assets and measures for mitigation;

3. Pricing of risks;

4. Collection efficiencies;

5. Engagement of banks with fin-tech entities;

6. Implementation of certain regulatory measures for ensuring consumer protection.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/1139

The Reserve Bank of India will conduct a Variable Rate Reverse Repo auction on November 3, 2021, Wednesday, as under:

2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

Ajit Prasad
Director   

Press Release: 2021-2022/1138

Ajit Prasad
Director   

Press Release: 2021-2022/1137

Ajit Prasad
Director   

Press Release: 2021-2022/1136

Ajit Prasad
Director   

Press Release: 2021-2022/1135