Category: Press Releases

Reserve Bank of India – Press Releases

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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


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Reserve Bank of India – Press Releases

Press Releases

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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

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Reserve Bank of India – Press Releases

Press Releases

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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


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Reserve Bank of India – Press Releases

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The Reserve Bank of India (RBI) today released the Annual Report of the “Ombudsman Schemes of the Reserve Bank for the year 2019-20”. The Banking Ombudsman Scheme (BOS) was first notified by the Reserve Bank in 1995 under Section 35 A of the Banking Regulation Act, 1949. It is administered by the Reserve Bank through 22 Offices of Banking Ombudsman (OBOs) covering all states and union territories. The Annual Report covers the activities under the Banking Ombudsman Scheme (BOS), the Ombudsman Scheme for Non-Banking Financial Companies (OSNBFC) and the Ombudsman Scheme for Digital Transactions (OSDT); the developments in the area of consumer protection and the way forward.

The grievance redress machinery of the Reserve Bank functioned with round-the-clock availability, leveraging on the capabilities of the state-of-the-art Complaint Management System (CMS). The CMS platform, which was launched in June 2019, brought all stakeholders namely the Reserve Bank, the Regulated Entities (REs) and their customers on one web-based platform; and digitalised the entire process of handling of customer grievances by the Reserve Bank.

Some highlights from the Annual Report are as follows:

A. Activities under BOS, OSNBFCs and OSDT – July 1, 2019 to June 30, 2020

i) There was an increase of 64.97 per cent in the receipt of complaints under the three Ombudsman Schemes, from 2,00,362 complaints in 2018-19 to 3,30,543 complaints in 2019-20. Of these, 86.19 per cent were received electronically i.e. through the CMS online portal and email. Despite surge in receipt of complaints, disposal rate of more than 92 per cent was achieved. 72.27 per cent of the maintainable complaints were resolved through mediation and conciliation.

ii) The major grounds of complaints at OBOs were: (a) ATM/Debit Cards; (b) Mobile/Electronic banking; (c) non-observance of Fair Practices Code (FPC).

iii) The major grounds of complaints under OSNBFC were (a) non-observance of regulatory guidelines; (b) lack of transparency in contract/ loan agreement; (c) levy of charges without notice.

B. Important developments during July 1, 2019 to June 30, 2020

i) The Internal Ombudsman (IO) Scheme was extended to non-bank system participants with more than one crore outstanding prepaid payment instruments as of the end of the previous financial year.

ii) Root cause analysis of the complaints received was undertaken to identify the major concerns, systemic issues and to formulate remedial measures to address the concerns.

C. Way Forward

As announced in the Monetary Policy Statement on February 5, 2021, the three Ombudsman Schemes are being merged and integrated into a single scheme which will be rolled out starting from June 2021. The capabilities of the CMS will be enhanced for more efficient grievance redress. A framework for consumer education will be put in place to meet the needs arising from increased digitalisation in the banking space.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/1068

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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, 07/02/2021 1 Mon, 08/02/2021 3,238.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo – – – – –
3. MSF Sun, 07/02/2021 1 Mon, 08/02/2021 408.00 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 (-)]*		       -2,830.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Sat, 06/02/2021 2 Mon, 08/02/2021 10,384.00 3.35
  Fri, 05/02/2021 3 Mon, 08/02/2021 5,25,264.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 29/01/2021 14 Fri, 12/02/2021 2,00,007.00 3.54
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Sat, 06/02/2021 2 Mon, 08/02/2021 7,285.00 4.25
  Fri, 05/02/2021 3 Mon, 08/02/2021 6.00 4.25
4. Long-Term Repo Operations# Mon, 24/02/2020 365 Tue, 23/02/2021 15.00 5.15
  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$       29,770.06  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -6,21,496.94  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -6,24,326.94  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 07/02/2021 4,29,138.94  
     (ii) Average daily cash reserve requirement for the fortnight ending 12/02/2021 4,44,286.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 05/02/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 15/01/2021 8,08,585.00  
@ 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.
Rupambara
Director   
Press Release : 2020-2021/1067

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Reserve Bank of India – Press Releases

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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


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The Reserve Bank stands committed to ensure the availability of ample liquidity in the system in order to foster congenial financial conditions. On a review of current liquidity and financial conditions, therefore, the Reserve Bank has decided to conduct purchase of Government securities under Open Market Operations (OMO) for an aggregate amount of ₹20,000 crore on February 10, 2021.

2. Accordingly, the Reserve Bank will purchase the following Government securities through a multi-security auction using the multiple price method:

Sr. No ISIN Security Date of Maturity Aggregate Amount
1 IN0020190396 6.18% GS 2024 04-Nov-2024 ₹20,000 crore
(There is no security-wise notified amount)
2 IN0020170174 7.17% GS 2028 08-Jan-2028
3 IN0020200153 5.77% GS 2030 03-Aug-2030
4 IN0020200096 6.19% GS 2034 16-Sep-2034

3. The Reserve Bank reserves the right to:

  • decide on the quantum of purchase of individual securities.

  • accept bids for less than the aggregate amount.

  • purchase marginally higher/lower than the aggregate amount due to rounding-off.

  • accept or reject any or all the bids either wholly or partially without assigning any reasons.

4. Eligible participants should submit their bids in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system between 10:00 am and 11:00 am on February 10, 2021. Only in the event of system failure, physical bids would be accepted. Such physical bid should be submitted to Financial Markets Operations Department (email; Phone no: 022-22630982) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before 11.00 am.

5. The result of the auctions will be announced on the same day and successful participants should ensure availability of securities in their SGL account by 12 noon on February 11, 2021.

6. The Reserve Bank will continue to monitor evolving liquidity and market conditions and conduct open market operations and take other measures as appropriate to ensure orderly functioning of financial markets.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/1065

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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) 9,786.95 0.83 0.01-5.30
     I. Call Money 623.95 2.93 2.50-3.50
     II. Triparty Repo 8,918.00 0.56 0.01-3.26
     III. Market Repo 0.00   –
     IV. Repo in Corporate Bond 245.00 5.30 5.30-5.30
B. Term Segment      
     I. Notice Money** 9,274.45 3.26 1.90-3.55
     II. Term Money@@ 517.00 – 3.05-3.75
     III. Triparty Repo 3,36,687.55 3.19 1.50-3.35
     IV. Market Repo 94,598.58 3.10 0.01-3.35
     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, 05/02/2021 3 Mon, 08/02/2021 5,25,264.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo – – – – –
3. MSF Fri, 05/02/2021 3 Mon, 08/02/2021 6.00 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 (-)]*		       -5,25,258.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 29/01/2021 14 Fri, 12/02/2021 2,00,007.00 3.54
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF          
4. Long-Term Repo Operations# Mon, 24/02/2020 365 Tue, 23/02/2021 15.00 5.15
  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$       29,770.06  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -93,139.94  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -6,18,397.94  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 05/02/2021 4,83,344.71  
     (ii) Average daily cash reserve requirement for the fortnight ending 12/02/2021 4,44,286.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 05/02/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 15/01/2021 8,08,585.00  
@ 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 : 2020-2021/1064

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The Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive dated August 28, 2015 issued to The Vaish Co-operative Commercial Bank Ltd., New Delhi, as modified from time to time, the validity of which was last extended up to February 08, 2021 shall continue to apply to the bank for a further period of three months from February 09, 2021 to May 08, 2021 subject to review.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/1063

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Reserve Bank of India (RBI) has been conducting Financial Literacy Week (FLW) every year since 2016 to propagate financial education messages on a particular theme across the country.

2. The theme selected for current year FLW is “Credit Discipline and Credit from Formal Institutions” which will be observed from February 8-12, 2021. This theme is one of the strategic objectives of the National Strategy for Financial Education 2020-2025. Focus will be on a) responsible borrowing; b) borrowing from formal institutions and c) timely repayments.

3. Banks have been advised to disseminate the information and create awareness among its customers and general public. Further, RBI will undertake a centralized mass media campaign during the month of February 2021 to broadcast essential financial awareness messages to general public.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/1062

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