Category: Press Releases

In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated December 04, 2020, the Reserve Bank of India has released today, the Discussion Paper on Revised Regulatory Framework for NBFCs- A Scale-Based Approach. Comments on the Discussion Paper are invited from NBFCs, market participants and other stakeholders within one month from this date.

Feedback on the Discussion Paper may be forwarded to:

The Chief General Manager-in-Charge, Reserve Bank of India,
Department of Regulation, 2nd Floor, Main Office Building,
Shahid Bhagat Singh Marg, Fort, Mumbai – 400001

or

by email with the subject line “Discussion Paper on Revised
Regulatory Framework for NBFCs- A Scale-Based Approach”

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/984

The Reserve Bank has launched the 28th round of the quarterly Services and Infrastructure Outlook Survey (SIOS) for the reference period January-March 2021. The survey assesses the business situation for the current quarter (Q4:2020-21) from selected companies in the services and infrastructure sectors in India and their expectations for the ensuing quarter (Q1:2021-22) based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment conditions and the price situation.

Owing to continued uncertainty because of the Covid-19 pandemic, an additional block has been included in this survey round for assessing the outlook on key parameters for the two subsequent quarters (Q2:2021-22 and Q3:2021-22).

2. M/s Genesis Management & Market Research Pvt. Ltd. has been authorised to conduct the survey for January-March 2021 quarter on behalf of the Reserve Bank. While the agency will approach selected companies, other companies in the services and infrastructure sectors are also encouraged to participate in the survey by downloading the survey questionnaire from the Bank’s website which is placed under the head ‘Forms’ (see ‘More Links’ at the bottom of the RBI Homepage) and the sub-head ‘Survey’. The duly authenticated filled-in survey questionnaire may be e-mailed as per contact details given therein.

3. Identity of the respondents will not be revealed.

4. In case of any query/clarification, kindly contact us at the following address:

The Director
Division of Enterprise Surveys,
Department of Statistics and Information Management,
Reserve Bank of India, C-8, 2nd Floor, Bandra-Kurla Complex,
Bandra (East), Mumbai-400051.
Phone: 022-26578664, 022-26572197.
Please click here to send email.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/983

The Reserve Bank has launched the 93rd round of the quarterly Industrial Outlook Survey (IOS) of the Indian manufacturing sector for the reference period January-March 2021. The survey assesses business sentiment for the current quarter (Q4:2020-21) and expectations for the ensuing quarter (Q1:2021-22), based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment conditions and the price situation. The survey provides useful insight into the performance of the manufacturing sector. Owing to continued uncertainty because of the Covid-19 pandemic, an additional block has been included in this survey round for assessing the outlook on key parameters for the two subsequent quarters (Q2:2021-22 and Q3:2021-22).

2. The results for the 91st round i.e. for Q2:2020-21 were released in public domain on October 9, 2020.

3. M/s Genesis Management & Market Research Pvt. Ltd. has been authorised to conduct the survey for January-March 2021 on behalf of the Reserve Bank. While the agency will approach selected companies, other manufacturing companies are also encouraged to participate in the survey by downloading the survey questionnaire from the Bank’s website https://www.rbi.org.in/Scripts/BS_ViewForms.aspx?FCId=40, which is placed under the head ‘Forms’ (see ‘More Links’ at the bottom of the RBI Homepage) and the sub-head ‘Survey’. The duly authenticated filled-in survey questionnaire may be e-mailed as per contact details given therein.

4. Identity of the respondents will not be revealed.

5. In case of any query/clarification, kindly contact us at the following address:

The Director,
Division of Enterprise Surveys,
Department of Statistics and Information Management,
Reserve Bank of India, C-8, 2nd Floor, Bandra-Kurla Complex,
Bandra (East), Mumbai-400051.
Phone: 022-26578386, 022-26572197.
Please click here to send email.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/982

In the underwriting auctions conducted on January 22, 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
Director   

Press Release: 2020-2021/981

The Reserve Bank of India (RBI) has, by an order dated January 21, 2021, imposed a monetary penalty of ₹2 Crore (Rupees Two Crore only) on Standard Chartered Bank–India (the bank) for non-compliance with certain directions issued by RBI contained in the “Reserve Bank of India (Frauds – Classification and Reporting by commercial banks and select FIs) Directions 2016”.

The 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) of the Banking Regulation Act, 1949, for delays in reporting of frauds to RBI, revealed during the statutory inspection of the bank with reference to its financial position as on March 31, 2018 and March 31, 2019.

A notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for such non-compliance with the directions. After considering the bank’s reply to the notice and oral submissions made in the personal hearing, RBI concluded that the charge of non-compliance with aforesaid RBI directions was substantiated and warranted imposition of monetary penalty.

This action is based on the 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: 2020-2021/979