Category: Press Releases

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹10000 Crore ₹3000 Crore ₹7000 Crore II. Competitive Bids Received       (i) Number 107 58 141 (ii) Amount ₹32892.550 Crore ₹7159 Crore ₹22795 Crore III. Cut-off price / Yield 99.1200 98.1250 96.1280 (YTM: 3.5610%) (YTM: 3.8322%) (YTM: 4.0390%) IV. Competitive Bids Accepted       (i) Number 46 36 47 (ii) Amount ₹9999.475 Crore ₹2999.902 Crore ₹6999.807 Crore V. Partial Allotment Percentage of Competitive Bids 77.75% 27.27% 90.32% (4 Bids) (1 Bid) (1 Bid) VI. Weighted Average Price/Yield 99.1264 98.1485 96.1548 (WAY: 3.5349%) (WAY: 3.7832%) (WAY: 4.0100%) VII. Non-Competitive Bids Received       (i) Number 6 1 2 (ii) Amount ₹8831.295 Crore ₹0.098 Crore ₹300.193 Crore VIII. Non-Competitive Bids Accepted       (i) Number 6 1 2 (ii) Amount ₹8831.295 Crore ₹0.098 Crore ₹300.193 Crore (iii) Partial Allotment Percentage 100% (0 Bids) 100% (0 Bids) 100% (0 Bids) Ajit Prasad Director    Press Release: 2021-2022/1103

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹10,000 Crore ₹3,000 Crore ₹7,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 99.1200 (YTM: 3.5610%) 98.1250 (YTM: 3.8322%) 96.1280 (YTM: 4.0390%) IV. Total Face Value Accepted ₹10,000 Crore ₹3,000 Crore ₹7,000 Crore Ajit Prasad Director    Press Release: 2021-2022/1102

(Amount in ₹ crore, Rate in Per cent)   Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 4,94,277.83 3.40 2.00-3.65      I. Call Money 9,789.74 3.33 2.00-3.65      II. Triparty Repo 3,91,408.90 3.40 3.25-3.45      III. Market Repo 91,888.19 3.41 2.00-3.58      IV. Repo in Corporate Bond 1,191.00 3.65 3.65-3.65 B. Term Segment            I. Notice Money** 99.55 3.12 2.50-3.30      II. Term Money@@ 50.00 – 3.20-3.30      III. Triparty Repo 3,499.00 3.45 3.35-3.65      IV. Market Repo 417.13 3.75 3.75-3.75      V. Repo in Corporate Bond 2,224.00 3.83 3.80-5.35

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 Tue, 26/10/2021 1 Wed, 27/10/2021 1,74,518.00 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 Tue, 26/10/2021 7 Tue, 02/11/2021 2,00,019.00 3.99 3. MSF Tue, 26/10/2021 1 Wed, 27/10/2021 250.00 4.25 4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£           5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -3,74,287.00   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           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 (-)]*     -3,19,422.2   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -6,93,709.2   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 26/10/2021 6,17,253.10        (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¥ 26/10/2021 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: 2021-2022/1101

The Reserve Bank of India (RBI) has, by an order dated October 26, 2021 imposed a monetary penalty of ₹90.00 lakh (Rupees ninety lakh only) on Vasai Vikas Sahakari Bank Ltd., Vasai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on “Management of Advances – UCBs”, “Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs”, with the specific directions issued to the bank vide RBI’s letter dated November 22, 2018 and with the provisions of section 31 read with section 56 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Act, taking into account failure of the bank to adhere to the aforesaid directions issued by RBI and provisions of section 31 read with section 56 of the Banking Regulation Act, 1949. This action is based on deficiency 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 of the bank conducted by RBI with reference to the bank’s financial position as on March 31, 2019, the Inspection Report pertaining thereto and examination of all related correspondence revealed, inter alia, that the bank had not complied with the RBI directions on ensuring end use of funds in borrowal accounts and classification of loans/ advances as non-performing assets, specific direction of RBI for ensuring that the bank’s balance sheet and profit & loss account are signed by at least three of it’s directors in accordance with section 29 read with section 56 of the Act (despite having noted to ensure such compliance) and the provisions of section 31 read with section 56 of the Act. 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 for contravention of the RBI directions and the provisions of the Act. After considering the bank’s replies to the notice and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions and provisions of the Act was substantiated and warranted imposition of monetary penalty, to the extent of non-compliance with such directions and provisions of the Act. (Yogesh Dayal)      Chief General Manager Press Release: 2021-2022/1100

The Result of the auction of State Development Loans for 13 State Governments held on October 26, 2021. Table (Amount in ₹ crore)   ANDHRA PRADESH 2037 ANDHRA PRADESH 2036 ASSAM 2026 ASSAM 2031 Notified Amount 500 500 500 500 Tenure 16 15 5 10 Competitive Bids Received         (i) No. 86 95 22 48 (ii) Amount 2669 2686 1685 1655 Cut-off Yield (%) 7.02 7.02 6.09 6.99 Competitive Bids Accepted         (i) No. 1 1 4 18 (ii) Amount 453.718 450 494.999 459.999 Partial Allotment Percentage of Competitive Bids         (i) Percentage 90.7436 90 64.9997 27.5859 (ii) No. (1 bid) (1 bid) (2 bids) (5 bids) Non-Competitive Bids Received         (i) No. 7 7 2 8 (ii) Amount 46.282 65.574 5.001 40.001 Non-Competitive Price (₹) 100 100 100.04 100.11 Non-Competitive Bids Accepted         (i) No. 7 7 2 8 (ii) Amount 46.282 50 5.001 40.001 Partial Allotment Percentage of Non-Competitive Bids         (i) Percentage – 76.2497 – – (ii) No. – (7 bids) – – Weighted Average Yield (%) 7.02 7.02 6.0799 6.9745 Total Allotment Amount 500 500 500 500   BIHAR 2030 CHHATTISGARH 2028 GUJARAT 2031 HARYANA 2028 Notified Amount 2000 1000 1500 1500 Tenure 9 7 10 7 Competitive Bids Received         (i) No. 74 56 153 84 (ii) Amount 6243 4420 10395 6790 Cut-off Yield (%) 6.95 6.62 6.93 6.63 Competitive Bids Accepted         (i) No. 35 16 17 26 (ii) Amount 1907.999 974.995 1350 1465.971 Partial Allotment Percentage of Competitive Bids         (i) Percentage 19.2103 83.1766 80.2721 55.7215 (ii) No. (5 bids) (4 bids) (8 bids) (5 bids) Non-Competitive Bids Received         (i) No. 7 4 15 4 (ii) Amount 92.001 25.005 187.675 34.029 Non-Competitive Price (₹) 100.24 100.05 100.05 100.07 Non-Competitive Bids Accepted         (i) No. 7 4 15 4 (ii) Amount 92.001 25.005 150 34.029 Partial Allotment Percentage of Non-Competitive Bids         (i) Percentage – – 79.9254 – (ii) No. – – (15 bids) – Weighted Average Yield (%) 6.9141 6.6104 6.923 6.6176 Total Allotment Amount 2000 1000 1500 1500   MADHYA PRADESH 2031 MAHARASHTRA 2033 PUDUCHERRY* 2027 RAJASTHAN 2031 Notified Amount 2000 2500 125 1000 Tenure Re-issue of 6.85% Madhya Pradesh SDL 2031 Issued on September 15, 2021 Re-issue of 6.91% Maharashtra SDL 2033 Issued on September 15, 2021 6 10 Competitive Bids Received         (i) No. 125 214 12 115 (ii) Amount 6100 6262.25 850 6392 Cut-off Yield (%) 6.9803 7.0292 – 6.96 Competitive Bids Accepted         (i) No. 51 104 – 17 (ii) Amount 1882.988 2276.832 – 900 Partial Allotment Percentage of Competitive Bids         (i) Percentage 59.9975 67.1469 – 51.9084 (ii) No. (10 bids) (5 bids) – (8 bids) Non-Competitive Bids Received         (i) No. 6 10 3 12 (ii) Amount 117.012 223.168 1.156 155.087 Non-Competitive Price (₹) 99.18 99.22 – 100.07 Non-Competitive Bids Accepted         (i) No. 6 10 – 12 (ii) Amount 117.012 223.168 – 100 Partial Allotment Percentage of Non-Competitive Bids         (i) Percentage – – – 64.4799 (ii) No. – – – (12 bids) Weighted Average Yield (%) 6.9647 7.0065 – 6.9503 Total Allotment Amount 2000 2500 0 1000   RAJASTHAN 2027 TAMILNADU 2051 UTTAR PRADESH 2031 WEST BENGAL 2041 Notified Amount 1000 1000 2500 2500 Tenure 6 Re-issue of 6.96% Tamil Nadu SDL 2051 Issued on May 19, 2021 10 20 Competitive Bids Received         (i) No. 74 47 149 107 (ii) Amount 5640 4195 9480 11925 Cut-off Yield (%) 6.34 7.0977 6.99 7.08 Competitive Bids Accepted         (i) No. 13 1 55 5 (ii) Amount 967.31 970.744 2250 2377.041 Partial Allotment Percentage of Competitive Bids         (i) Percentage 13.322 97.0744 51.8216 91.6975 (ii) No. (3 bids) (1 bid) (22 bids) (4 bids) Non-Competitive Bids Received         (i) No. 6 4 15 6 (ii) Amount 32.69 29.256 300.453 122.959 Non-Competitive Price (₹) 100.1 98.3 100.08 100 Non-Competitive Bids Accepted         (i) No. 6 4 15 6 (ii) Amount 32.69 29.256 250 122.959 Partial Allotment Percentage of Non-Competitive Bids         (i) Percentage – – 83.2077 – (ii) No. – – (15 bids) – Weighted Average Yield (%) 6.3202 7.0977 6.9781 7.0799 Total Allotment Amount 1000 1000 2500 2500   Total Notified Amount 20625 Tenure   Competitive Bids Received   (i) No. 1461 (ii) Amount 87387.25 Cut-off Yield (%)   Competitive Bids Accepted   (i) No. 364 (ii) Amount 19182.596 Partial Allotment Percentage of Competitive Bids   (i) Percentage   (ii) No.   Non-Competitive Bids Received   (i) No. 116 (ii) Amount 1477.349 Non-Competitive Price (₹)   Non-Competitive Bids Accepted   (i) No. 113 (ii) Amount 1317.404 Partial Allotment Percentage of Non-Competitive Bids   (i) Percentage   (ii) No.   Weighted Average Yield (%)   Total Allotment Amount 20500 *UT of Puducherry has not accepted any amount in today’s auction Ajit Prasad Director    Press Release: 2021-2022/1099

The Reserve Bank of India (RBl) has imposed, by an order dated October 26, 2021, a monetary penalty of ₹7.00 lakh (Rupees Seven Lakh only) on The Citizens Urban Co-operative Bank Ltd., Jalandhar, Punjab (the bank) for non-compliance with certain directions issued by RBI contained in the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 01, 2015 on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’. 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) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI. This action is based on 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 inspection report of the bank based on its financial position as on March 31, 2019, revealed, inter alia, non-adherence with/violation of the aforesaid directions, viz., non-identification of NPAs, wrong classification of assets and inadequate provisions made due to wrong classification of assets. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for violation of the said directions. After considering the bank’s reply and oral submissions made during the personal hearing, RBI came to the conclusion that the aforesaid charges of non-adherence with /violation of RBI directions were substantiated and warranted imposition of monetary penalty. (Yogesh Dayal)      Chief General Manager Press Release: 2021-2022/1098

Sr. No. State/UT Amount to be raised (₹ Cr) Amount Accepted (₹ Cr) Cut off Price(₹) /Yield (%) Tenure (Yrs) 1 Andhra Pradesh 500 500 7.02 15 500 500 7.02 16 2 Assam 500 500 6.09 5 500 500 6.99 10 3 Bihar 2000 2000 6.95 9 4 Chhattisgarh 1000 1000 6.62 7 5 Gujarat 1500 1500 6.93 10 6 Haryana 1500 1500 6.63 7 7 Madhya Pradesh 2000 2000 99.07/6.9803 Re-issue of 6.85% Madhya Pradesh SDL 2031 Issued on September 15, 2021 8 Maharashtra 2500 2500 99.04/7.0292 Re-issue of 6.91% Maharashtra SDL 2033 Issued on September 15, 2021 9 Puducherry* 125 – NA 6 10 Rajasthan 1000 1000 6.34 6 1000 1000 6.96 10 11 Tamil Nadu 1000 1000 98.30/7.0977 Re-issue of 6.96% Tamil Nadu SDL 2051 Issued on May 19, 2021 12 Uttar Pradesh 2500 2500 6.99 10 13 West Bengal 2500 2500 7.08 20   TOTAL 20625 20500     *UT of Puducherry has not accepted any amount in today’s auction. Ajit Prasad Director    Press Release: 2021-2022/1097

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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(Amount in ₹ crore, Rate in Per cent)   Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 493,295.61 3.41 2.00-3.65      I. Call Money 10,104.72 3.31 2.00-3.50      II. Triparty Repo 370,667.95 3.41 3.11-3.50      III. Market Repo 111,698.94 3.40 2.25-3.60      IV. Repo in Corporate Bond 824.00 3.65 3.65-3.65 B. Term Segment            I. Notice Money** 354.20 3.25 2.50-3.40      II. Term Money@@ 62.50 – 3.20-3.30      III. Triparty Repo 250.00 3.44 3.44-3.44      IV. Market Repo 356.24 3.39 2.90-3.75      V. Repo in Corporate Bond 1,600.00 3.82 3.80-3.85

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 Mon, 25/10/2021 1 Tue, 26/10/2021 139,644.00 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 Mon, 25/10/2021 1 Tue, 26/10/2021 400.00 4.25 4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£           5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -139,244.00   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 418,395.00 3.99   (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo Wed, 20/10/2021 6 Tue, 26/10/2021 200,008.00 3.95 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$       24,195.80   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -516,930.2   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -656,174.2   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 25/10/2021 621,710.28        (ii) Average daily cash reserve requirement for the fortnight ending 05/11/2021 636,507.00   H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 25/10/2021 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 08/10/2021 1,192,495.00   @ 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: 2021-2022/1095

Government of India (GOI) has announced the sale (re-issue) of three dated securities for a notified amount of ₹24,000 crore as per the following details:

Sr No	Security	Date of Repayment	Notified Amount (₹ crore)	GoI specific Notification	Auction Date	Settlement Date
1	GOI FRB 2028*	Oct 04, 2028	4,000	F.No.4(3)-B(W&M)/2021 dated October 25, 2021	October 29, 2021 (Friday)	November 01, 2021 (Monday)
2	6.10% GS 2031	July 12, 2031	13,000
3	6.76% GS 2061	Feb. 22, 2061	7,000
	Total		24,000
* The base rate for the coupon payment for the period October 04, 2021 to April 03, 2022 for GOI FRB 2028 shall be 3.40 per cent per annum.

2. GoI will have the option to retain additional subscription up to ₹2,000 crore each against one or more security/ies mentioned above.

3. The securities will be sold through Reserve Bank of India Mumbai Office, Fort, Mumbai – 400001. The sale will be subject to the terms and conditions spelt out in the ‘Specific Notification’ mentioned above and the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018.

4. The auction will be conducted using uniform price method for GOI FRB 2028, 6.10% GS 2031 and multiple price method for 6.76% GS 2061. 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 October 29, 2021 (Friday). 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. The result will be announced on the same day and payment by successful bidders will have to be made on November 01, 2021 (Monday).

5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 9.00 a.m. up to 9.30 a.m. on October 29, 2021 (Friday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

6. The Stocks will be eligible for “When Issued” trading for a period commencing from October 26, 2021 – October 29, 2021.

7. Operational guidelines for Government of India dated securities auction and other details are given in the Annex.

Ajit Prasad
Director   

Press Release: 2021-2022/1094

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ANNEX

Type of Auction

1. For multiple price-based auction, successful bids will get accepted at the respective quoted yield/price for the security. For uniform price-based auction, bids will get accepted at the cut off yield/price accepted in the auction.

2. The auction will be yield based for new security and price based for securities which are re-issued.

3. In case of a Floating Rate Bonds (FRB), the auction will be spread-based for new security and price based for securities which are reissued. At the time of placing bids for new FRB, the spread should be quoted in percentage terms.

Minimum Bid Size

4. The Stocks will be issued for a minimum amount of ₹10,000/- (nominal) and in multiples of ₹10,000/- thereafter.

Non-Competitive Segment

5. In all the auctions, Government Stock up to 5% of the notified amount of sale will be allotted to the eligible individuals and institutions under the Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities.

6. Each bank or Primary Dealer (PD) on the basis of firm orders received from their constituents will submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

7. Allotment under the non-competitive segment to the bank or PD will be at the weighted average rate of yield/price of the successful bids that will emerge in the auction on the basis of the competitive bidding.

Submission of Bids

8. 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.

9. Bids in physical form will not be accepted except in extraordinary circumstances.

Business Continuity Plan (BCP)-IT failure

10. Only in the event of system failure, physical bids will be accepted. Such physical bids should be submitted to the Public Debt Office, Mumbai through (email; Phone no: 022-22632527, 022-22701299) in the prescribed form which can be obtained from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends.

11. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595666, 022-27595415, 022-27523516).

12. For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Multiple Bids

13. An investor can submit more than one competitive bid in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

14. However, the aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of auction.

Decision Making Process

15. On the basis of bids received, the Reserve Bank will determine the minimum price up to which tenders for purchase of Government Stock will be accepted at the auctions.

16. Bids quoted at rates lower than the minimum price determined by the Reserve Bank of India will be rejected.

17. Reserve Bank of India will have the full discretion to accept or reject any or all bids either wholly or partially without assigning any reason.

Issue of Securities

18. Issue of securities to the successful bidders will be by credit to Subsidiary General Ledger Account (SGL) of parties maintaining such account with Reserve Bank of India or in the form of Stock Certificate.

Periodicity of Interest Payment

19. Interest on the Government Stock will generally be paid half-yearly other than in case of securities with non-standard maturities. The exact periodicity of coupon payment is invariably mentioned in the specific notification for the issue of security.

Underwriting of the Government Securities

20. The underwriting of the Government Securities under auctions by the ‘Primary Dealers’ will be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” announced by the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007 as amended from time to time.

Eligibility for Repurchase Transactions (Repo)

21. The Stocks will eligible for Repurchase Transactions (Repo) as per the conditions mentioned in Repurchase Transactions (Repo) (Reserve Bank) Directions, 2018 (Reserve Bank) Directions, 2018 as amended from time to time.

Eligibility for ‘When Issued’ Trading

22. The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

Investment by Non-Residents

23. Investments by Non-Residents are subject to the guidelines on ‘Fully Accessible Route’ for Investment by Non-residents in Government Securities and Investment by Foreign Portfolio Investors (FPI) in Government Securities: Medium Term Framework (MTF).