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The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period October 12 – October 16, 2020.
Ajit Prasad Press Release: 2020-2021/914 |
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The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period October 05 – October 09, 2020.
Ajit Prasad Press Release: 2020-2021/913 |
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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, January 13, 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, January 14, 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: 2020-2021/911 |
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On February 06, 2020, the Reserve Bank had announced a revised Liquidity Management Framework that was simplified and clearly communicated the objectives and toolkit for liquidity management. 2. In view of the outbreak of COVID-19, the rapidly evolving financial conditions and taking into account the impact of disruptions due to the lockdown and social distancing, it was decided to temporarily suspend the revised liquidity management framework and the window for Fixed Rate Reverse Repo and Marginal Standing Facility (MSF) operations were made available throughout the day. This was intended to provide eligible market participants with greater flexibility in their liquidity management. 3. In view of operational dislocations and elevated level of health risks posed by COVID-19, it had been decided to truncate trading hours for various market segments with effect from April 07, 2020. Later, with the graded roll-back of the lockdown and easing of restrictions on movement of people and functioning of offices, it was decided to restore trading hours for markets regulated by the Reserve Bank in a phased manner with effect from November 09, 2020. 4. On a review of evolving liquidity and financial conditions, it has been decided to restore normal liquidity management operations in a phased manner. Accordingly, the Reserve Bank will conduct the following Variable Rate Reverse Repo auction on January 15, 2021, Friday under the revised Liquidity Management Framework issued on February 06, 2020.
5. 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. 6. The Fixed Rate Reverse Repo and Marginal Standing Facility (MSF) operations will continue to be available throughout the day. As stated in the last MPC statement on December 4, 2020, it is reiterated that the Reserve Bank will ensure availability of ample liquidity in the system. (Yogesh Dayal) Press Release: 2020-2021/910 |
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Ajit Prasad Press Release: 2020-2021/908 |
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The following State Governments have offered to sell securities by way of an auction, for an aggregate amount of ₹13,294 Cr. (Face Value).
| Sr. No. | State | Amount to be raised (₹ Cr) |
Additional Borrowing (Greenshoe) Option (₹ Cr) |
Tenure (Yrs) | Type of Auction |
| 1. | Andhra Pradesh | 1000 | – | 16 | Yield |
| 2. | Assam | 500 | – | 4 | Yield |
| 500 | – | 10 | Yield | ||
| 3. | Bihar | 2000 | – | 5 | Yield |
| 4. | Chhattisgarh | 1000 | – | 6 | Yield |
| 5. | Mizoram | 90 | – | 11 | Yield |
| 6. | Punjab | 500 | – | 30 | Yield |
| 7. | Rajasthan | 1000 | – | 10 | Yield |
| 8. | Sikkim | 204 | – | 10 | Yield |
| 9. | Tamil Nadu | 2000 | – | 10 | Yield |
| 10. | Uttar Pradesh | 2500 | – | 10 | Yield |
| 11. | West Bengal | 2000 | – | 20 | Yield |
| Total | 13,294 |
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on January 12, 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 January 12, 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 January 12, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on January 13, 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 July 13 and January 13 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: 2020-2021/905
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