Category: Press Releases

(Amount in ₹ crore, Rate in Per cent)   Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 3,534.55 2.83 1.95-3.35      I. Call Money 964.95 2.98 2.50-3.18      II. Triparty Repo 2,554.60 2.78 1.95-3.35      III. Market Repo 15.00 3.00 3.00-3.00      IV. Repo in Corporate Bond 0.00   – B. Term Segment            I. Notice Money** 6,118.36 3.26 2.00-3.55      II. Term Money@@ 394.00 – 3.40-4.25      III. Triparty Repo 3,74,364.05 3.30 3.10-3.40      IV. Market Repo 1,03,806.01 3.32 2.00-3.45      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, 29/10/2021 3 Mon, 01/11/2021 1,84,740.00 3.35     (iii) Special Reverse Repo~               (iv) Special Reverse Repoψ           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo           3. MSF Fri, 29/10/2021 3 Mon, 01/11/2021 455.00 4.25 4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£           5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,84,285.00   II. Outstanding Operations 1. Fixed Rate               (i) Repo               (ii) Reverse Repo               (iii) Special Reverse Repo~ Fri, 22/10/2021 12 Wed, 03/11/2021 5,465.00 3.75     (iv) Special Reverse Repoψ Fri, 22/10/2021 12 Wed, 03/11/2021 2,900.00 3.75 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo Fri, 22/10/2021 12 Wed, 03/11/2021 4,18,395.00 3.99   (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo Tue, 26/10/2021 7 Tue, 02/11/2021 2,00,019.00 3.99 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 7. On Tap Targeted Long Term Repo Operations€ Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00   Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00   Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00   Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00   Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00   Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00 8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00 Tue, 15/06/2021 1095 Fri, 14/06/2024 490.00 4.00 Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00 Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00 Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00 D. Standing Liquidity Facility (SLF) Availed from RBI$       21,695.80   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -5,19,441.2   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -7,03,726.2   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 29/10/2021 6,63,314.11        (ii) Average daily cash reserve requirement for the fortnight ending 05/11/2021 6,36,507.00   H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 29/10/2021 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 08/10/2021 11,92,495.00   @ 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. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021. ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015. £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021. ~ As per the Press Release No. 2021-2022/177 dated May 07, 2021. ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021. Ajit Prasad Director    Press Release: 2021-2022/1124

Central Government has re-appointed Shri Shaktikanta Das as Governor, Reserve Bank of India for a further period of three years beyond the 10th day of December 2021, or until further orders, whichever is earlier. (Yogesh Dayal)      Chief General Manager Press Release: 2021-2022/1123

The rate of interest on Government of India Floating Rate Bonds, 2034 (GOI FRB 2034) applicable for the half year October 30, 2021 to April 29, 2022 shall be 4.68 percent per annum. It may be recalled that FRB, 2034 will carry a coupon, which will have a Base rate equivalent to the average of the Weighted Average Yield (WAY) of last 3 auctions of 182 Day T-Bills, plus a fixed spread (0.98%). Ajit Prasad Director    Press Release: 2021-2022/1122

The Reserve Bank of India (RBI) has, by an order dated October 28, 2021, imposed a monetary penalty of ₹56 lakh (Rupees Fifty Six lakh only) on The Nainital Bank Ltd., Uttarakhand (the bank) for non-compliance with the directions contained in RBI circulars on “Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances – Divergence in NPA Accounts” dated August 04, 2011 read with Master Circular on “Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances” dated July 01, 2015, “Disclosure in the “Notes to Accounts” to the Financial Statements – Divergence in the Asset Classification and Provisioning” dated April 18, 2017 and “Frauds – Classification and Reporting by commercial banks and select FIs dated July 01, 2016” (updated as on July 03, 2017). This 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.

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.

Background

The Statutory Inspection for Supervisory Evaluation (ISE) of the bank was conducted by RBI with reference to its financial position as on March 31, 2019, and the examination of the Risk Assessment Report, Inspection Report and all related correspondence pertaining to the same, revealed, inter alia, non-compliance with the above-mentioned directions to the extent of (i) divergence between bank’s reported NPAs and NPAs assessed by the Inspection on account of failure to classify certain borrower accounts as NPA, (ii) failure to disclose material divergences relating to asset classification and provisioning identified by RBI, despite exceeding the defined threshold, in the Notes to Accounts and (iii) failure to report frauds as per RBI directions. In furtherance to the same, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with the RBI directions, as stated therein.

After considering the bank’s reply to the notice, oral submissions made during the personal hearing and additional submissions made by the bank, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank, to the extent of non-compliance with the aforesaid directions.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/1120

Auction Results GOI FRB 2028 6.10% GS 2031 6.76% GS 2061 I. Notified Amount ₹4000 Crore ₹13000 Crore ₹7000 Crore II. Underwriting Notified Amount ₹4000 Crore ₹13000 Crore ₹7000 Crore III. Competitive Bids Received       (i) Number 62 185 99 (ii) Amount ₹8111.921 Crore ₹25923.914 Crore ₹18207 Crore IV. Cut-off price / Yield 99.65 97.94 95.89 (YTM: 4.3776%) (YTM: 6.3866%) (YTM: 7.0698%) V. Competitive Bids Accepted       (i) Number 41 91 28 (ii) Amount ₹3999.979 Crore ₹12990.571 Crore ₹6993.008 Crore VI. Partial Allotment Percentage of Competitive Bids 9.68% 7.09% 86.85% (4 Bids) (5 Bids) (4 Bids) VII. Weighted Average Price/Yield 99.65 97.94 95.95 (WAY: 4.3776%) (WAY: 6.3866%) (WAY: 7.0651%) VIII. Non-Competitive Bids Received       (i) Number 2 4 5 (ii) Amount ₹0.021 Crore ₹9.429 Crore ₹6.992 Crore IX. Non-Competitive Bids Accepted       (i) Number 2 4 5 (ii) Amount ₹0.021 Crore ₹9.429 Crore ₹6.992 Crore (iii) Partial Allotment Percentage 100% (0 Bids) 100% (0 Bids) 100% (0 Bids) X. Amount of Underwriting accepted from primary dealers ₹4000 Crore ₹13000 Crore ₹7000 Crore XI. Devolvement on Primary Dealers 0 0 0 Ajit Prasad Director    Press Release: 2021-2022/1121

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.

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Department of Communication

Reserve Bank of India

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Data on sectoral deployment of bank credit collected from select 33 scheduled commercial banks, accounting for about 90 per cent of the total non-food credit deployed by all scheduled commercial banks, for the month of September 2021, are set out in Statements I and II. On a year-on-year (y-o-y) basis, non-food bank credit1 growth accelerated to 6.8 per cent in September 2021 as compared to 5.1 per cent in September 2020. Highlights of the sectoral deployment of bank credit are given below: Credit to agriculture and allied activities registered a higher growth of 9.9 per cent in September 2021 as compared to 6.2 per cent in September 2020. Credit growth to industry picked up to 2.5 per cent in September 2021 from 0.4 per cent in September 2020. Size-wise, credit to medium industries registered a robust growth of 49.0 per cent in September 2021 as compared to 17.5 per cent last year. Credit to micro and small industries accelerated to 9.7 per cent in September 2021 from a contraction of 0.1 per cent a year ago. Credit to large industries continued to contract at 1.0 per cent in September 2021 as compared to a contraction of 0.2 per cent a year ago. Within industry, credit growth to ‘all engineering’, ‘chemicals & chemical products’, ‘food processing’, ‘gems & jewellery’, ‘infrastructure’, ‘mining & quarrying’, ‘petroleum coal products & nuclear fuels’, ‘rubber, plastic & their products’, ‘textiles’ and ‘wood and wood products’ accelerated in September 2021 as compared to the corresponding month of the previous year. However, credit growth to ‘beverage & tobacco’, ‘basic metal & metal products’, ‘cement & cement products’, ‘construction’, ‘glass & glassware’, ‘leather & leather products’, ‘paper and paper products’ and ‘vehicles, vehicles parts & transport equipment’ decelerated/contracted. Credit growth to the services sector decelerated to 0.8 per cent in September 2021 from 9.2 per cent in September 2020, mainly due to contraction/deceleration in credit growth to NBFCs, trade and commercial real estate. Personal loans registered an accelerated growth of 12.1 per cent in September 2021 as compared to 8.4 per cent a year ago, primarily due to faster credit growth in housing, vehicle loans, and loans against gold jewellery. Ajit Prasad Director    Press Release: 2021-2022/1118

1. Reserve Bank of India – Liabilities and Assets* (₹ Crore) Item 2020 2021 Variation Oct. 23 Oct. 15 Oct. 22 Week Year 1 2 3 4 5 4 Loans and Advances           4.1 Central Government – – – – – 4.2 State Governments 6463 8296 4802 -3495 -1661 * Data are provisional. 2. Foreign Exchange Reserves Item As on October 22, 2021 Variation over Week End-March 2021 Year ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. 1 2 3 4 5 6 7 8 1 Total Reserves 4793167 640100 -31781 -908 574214 63116 667127 79568 1.1 Foreign Currency Assets 4321443 577098 -28850 -853 397275 40405 511969 59574 1.2 Gold 287854 38441 -2535 -138 40131 4561 16529 1581 1.3 SDRs 144680 19321 -196 74 133817 17835 133732 17834 1.4 Reserve Position in the IMF 39189 5240 -200 10 2991 316 4897 580 *Difference, if any, is due to rounding off 4. Scheduled Commercial Banks – Business in India (₹ Crore) Item Outstanding as on Oct. 8, 2021 Variation over Fortnight Financial year so far Year-on-year 2020-21 2021-22 2020 2021 1 2 3 4 5 6 2 Liabilities to Others             2.1 Aggregate Deposits 15755753 156805 734455 642240 1364025 1453805 2.1a Growth (Per cent)   1.0 5.4 4.2 10.5 10.2 2.1.1 Demand 1786335 -37405 -147025 -74858 128813 316356 2.1.2 Time 13969418 194210 881480 717098 1235211 1137449 2.2 Borrowings 253399 7501 -54194 9374 -87371 -1846 2.3 Other Demand and Time Liabilities 584167 782 -83914 -72440 13120 64405 7 Bank Credit 11013458 56641 -27366 63949 554114 669963 7.1a Growth (Per cent)   0.5 –0.3 0.6 5.7 6.5 7a.1 Food Credit 62408 66 11629 1154 3103 -985 7a.2 Non-food credit 10951050 56575 -38995 62795 551011 670948 6. Money Stock: Components and Sources (₹ Crore) Item Outstanding as on Variation over 2021 Fortnight Financial Year so far Year-on-Year 2020-21 2021-22 2020 2021 Mar. 31 Oct. 8 Amount % Amount % Amount % Amount % Amount % 1 2 3 4 5 6 7 8 9 10 11 12 M3 18844578 19567496 171461 0.9 1006273 6.0 722918 3.8 1919671 12.1 1761260 9.9 1 Components (1.1.+1.2+1.3+1.4)                         1.1 Currency with the Public 2751828 2830514 15582 0.6 259405 11.0 78685 2.9 478935 22.5 221360 8.5 1.2 Demand Deposits with Banks 1995120 1920877 -37359 -1.9 -146786 -8.4 -74243 –3.7 133734 9.2 329971 20.7 1.3 Time Deposits with Banks 14050278 14768367 192401 1.3 889288 7.0 718089 5.1 1296976 10.6 1205064 8.9 1.4 ‘Other’ Deposits with Reserve Bank 47351 47738 838 1.8 4365 11.3 387 0.8 10026 30.5 4865 11.3 2 Sources (2.1+2.2+2.3+2.4-2.5)                         2.1 Net Bank Credit to Government 5850374 6124433 48310 0.8 669497 13.5 274059 4.7 724319 14.8 494574 8.8 2.1.1 Reserve Bank 1099686 1138634 20124   -66591   38949   -72585   213033   2.1.2 Other Banks 4750689 4985798 28186 0.6 736088 18.5 235110 4.9 796904 20.4 281541 6.0 2.2 Bank Credit to Commercial Sector 11668466 11720568 54556 0.5 -33079 -0.3 52101 0.4 601750 5.8 715002 6.5 2.2.1 Reserve Bank 8709 4434 -1363   1638   -4275   7192   -10370   2.2.2 Other Banks 11659757 11716134 55918 0.5 -34717 -0.3 56376 0.5 594558 5.7 725372 6.6 8. Liquidity Operations by RBI (₹ Crore) Date Liquidity Adjustment Facility MSF* Standing Liquidity Facilities Market Stabi lisation Scheme OMO (Outright) Long Term Repo Operations& Targeted Long Term Repo Operations# Special Long- Term Repo Operations for Small Finance Banks Special Reverse Repo£ Net Injection (+)/ Absorption (-) (1+3+5+ 6+9+10+ 11+12-2- 4-7-8-13) Repo Reverse Repo* Variable Rate Repo Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Oct. 18, 2021 – 201304 – – 806 – – – – – – – – -200498 Oct. 19, 2021 – 44534 – – 3928 – – – – – – – – -40606 Oct. 20, 2021 – 207337 – 200008 1678 – – – – – – – – -405667 Oct. 21, 2021 – 169520 – – 370 2500 – 225 315 – – – – -166560 Oct. 22, 2021 – 140873 – 418395 461 –2500 – 90 – – – – 8365 -569762 Oct. 23, 2021 – 14916 – – 476 – – – – – – – – -14440 Oct. 24, 2021 – 3560 – – 216 – – – – – – – – -3344 * Includes additional Reverse Repo and additional MSF operations (for the period December 16, 2019 to February 13, 2020). # Includes Targeted Long Term Repo Operations (TLTRO) and Targeted Long Term Repo Operations 2.0 (TLTRO 2.0) and On Tap Targeted Long Term Repo Operations. Negative (-) sign indicates repayments done by Banks. & Negative (-) sign indicates repayments done by Banks. £ As per Press Release No. 2021-2022/177 dated May 07, 2021. From June 18, 2021, the data also includes the amount absorbed as per the Press Release No. 2021-2022/323 dated June 04, 2021. The above information can be accessed on Internet at https://wss.rbi.org.in/ The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762). Time series data are available at https://dbie.rbi.org.in Ajit Prasad Director    Press Release: 2021-2022/1117

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

Sr. No	Treasury Bill	Notified Amount (in ₹ crore)	Auction Date	Settlement Date
1	91 Days	10,000	November 02, 2021 (Tuesday)	November 03, 2021 (Wednesday)
2	182 Days	3,000
3	364 Days	7,000
	Total	20,000

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 Tuesday, November 02, 2021, during the below given timings:

Category	Timing
Competitive bids	10:30 am – 11:30 am
Non-Competitive bids	10:30 am – 11:00 am

Results will be announced on the day of the auction.

Payment by successful bidders to be made on Wednesday, November 03, 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
Director   

Press Release: 2021-2022/1116

GOI FRB 2028 6.10% GS 2031 6.76% GS 2061 I. Notified Amount ₹4,000 cr ₹13,000 cr ₹7,000 cr II. Cut off Price / Implicit Yield at cut-off 99.65/4.3776% 97.94/6.3866% 95.89/7.0698% III. Amount accepted in the auction ₹4,000 cr ₹13,000 cr ₹7,000 cr IV. Devolvement on Primary Dealers Nil Nil Nil Ajit Prasad Director    Press Release: 2021-2022/1115