Category: Press Releases

The following State Governments have offered to sell securities by way of auction, for an aggregate amount of ₹20,625 Cr. (Face Value).

Sr. No.	State/UT	Amount to be raised (₹ Cr)	Additional Borrowing (Greenshoe) Option (₹ Cr)	Tenure (Yrs)	Type of Auction
1	Andhra Pradesh	500	–	15	Yield
		500	–	16	Yield
2	Assam	500	–	5	Yield
		500	–	10	Yield
3	Bihar	2000	–	9	Yield
4	Chhattisgarh	1000		7	Yield
5	Gujarat	1500	500	10	Yield
6	Haryana	1500		7	Yield
7	Madhya Pradesh	2000	–	Re-issue of 6.85% Madhya Pradesh SDL 2031 Issued on September 15, 2021	Price
8	Maharashtra	2500	–	Re-issue of 6.91% Maharashtra SDL 2033 Issued on September 15, 2021	Price
9	Puducherry	125	–	6	Yield
10	Rajasthan	1000	–	6	Yield
		1000	–	10	Yield
11	Tamil Nadu	1000	–	Re-issue of 6.96% Tamil Nadu SDL 2051 Issued on May 19, 2021	Price
12	Uttar Pradesh	2500	–	10	Yield
13	West Bengal	2500	–	20	Yield
	TOTAL	20625

The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on October 26, 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 October 26, 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 October 26, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on October 27, 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 April 27 and October 27 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: 2021-2022/1083

Auction Results 4.26% GS 2023 5.63% GS 2026 6.67% GS 2035 6.67% GS 2050 I. Notified Amount ₹2000 Crore ₹6000 Crore ₹9000 Crore ₹7000 Crore II. Underwriting Notified Amount ₹2000 Crore ₹6000 Crore ₹9000 Crore ₹7000 Crore III. Competitive Bids Received         (i) Number 62 148 212 201 (ii) Amount ₹8346 Crore ₹21777.961 Crore ₹23345 Crore ₹20181.5 Crore IV. Cut-off price / Yield 99.78 99.61 98.40 94.52 (YTM: 4.4057%) (YTM: 5.7296%) (YTM: 6.8479%) (YTM: 7.1175%) V. Competitive Bids Accepted         (i) Number 19 32 60 26 (ii) Amount ₹1997.92 Crore ₹5993.54 Crore ₹8988.25 Crore ₹6987.934 Crore VI. Partial Allotment Percentage of Competitive Bids 85.91% 20.90% 83.01% 11.59% (5 Bids) (6 Bids) (12 Bids) (5 Bids) VII. Weighted Average Price/Yield 99.78 99.61 98.40 94.61 (WAY: 4.4057%) (WAY: 5.7296%) (WAY: 6.8479%) (WAY: 7.1098%) VIII. Non-Competitive Bids Received         (i) Number 3 4 7 8 (ii) Amount ₹2.08 Crore ₹6.46 Crore ₹11.75 Crore ₹12.066 Crore IX. Non-Competitive Bids Accepted         (i) Number 3 4 7 8 (ii) Amount ₹2.08 Crore ₹6.46 Crore ₹11.75 Crore ₹12.066 Crore (iii) Partial Allotment Percentage 100% (0 Bids) 100% (0 Bids) 100% (0 Bids) 100% (0 Bids) X. Amount of Underwriting accepted from primary dealers ₹2000 Crore ₹6000 Crore ₹9000 Crore ₹7000 Crore XI. Devolvement on Primary Dealers 0 0 0 0 Ajit Prasad Director    Press Release: 2021-2022/1082

4.26% GS 2023 5.63% GS 2026 6.67% GS 2035 6.67% GS 2050 I. Notified Amount ₹2,000 cr ₹6,000 cr ₹9,000 cr ₹7,000 cr II. Cut off Price / Implicit Yield at cut-off 99.78/4.4057% 99.61/5.7296% 98.40/6.8479% 94.52/7.1175% III. Amount accepted in the auction ₹2,000 cr ₹6,000 cr ₹9,000 cr ₹7,000 cr IV. Devolvement on Primary Dealers Nil Nil Nil Nil Ajit Prasad Director    Press Release: 2021-2022/1081

Tenor 12-day Notified Amount (in ₹ crore) 4,50,000 Total amount of offers received (in ₹ crore) 4,18,395 Amount accepted (in ₹ crore) 4,18,395 Cut off Rate (%) 3.99 Weighted Average Rate (%) 3.91 Partial Acceptance Percentage of offers received at cut off rate NA Ajit Prasad Director    Press Release: 2021-2022/1080

In the underwriting auctions conducted on October 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: (₹ crore) Nomenclature of the Security Notified Amount Minimum Underwriting Commitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount underwritten ACU Commission Cut-off rate (paise per ₹100) 4.26% GS 2023 2,000 1,008 992 2,000 0.50 5.63% GS 2026 6,000 3,003 2,997 6,000 0.64 6.67% GS 2035 9,000 4,515 4,485 9,000 1.34 6.67% GS 2050 7,000 3,507 3,493 7,000 1.70 Auction for the sale of securities will be held on October 22, 2021. Ajit Prasad Director    Press Release: 2021-2022/1079

The Reserve Bank has launched the 96th round of the quarterly Industrial Outlook Survey (IOS) of the Indian manufacturing sector for the reference period October-December 2021. The survey assesses business sentiment for the current quarter (Q3:2021-22) and expectations for the ensuing quarter (Q4:2021-22), 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 (Q1:2022-23 and Q2:2022-23). 2. The results for the 95th round i.e. for Q2:2021-22 were released in public domain on October 8, 2021. 3. M/s Genesis Management & Market Research Pvt. Ltd. has been authorised to conduct the survey for October-December 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, 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 is not 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. Ajit Prasad Director    Press Release: 2021-2022/1077

The Reserve Bank has launched the 31st round of the quarterly Services and Infrastructure Outlook Survey (SIOS) for the reference period October-December 2021. The survey assesses the business situation for the current quarter (Q3:2021-22) from selected companies in the services and infrastructure sectors in India and their expectations for the ensuing quarter (Q4:2021-22) 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 (Q1:2022-23 and Q2:2022-23). 2. The results for the 30th round i.e. for Q2:2021-22 were released in public domain on October 8, 2021. 3. M/s Genesis Management & Market Research Pvt. Ltd. has been authorized to conduct the survey for October-December 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. 4. Identity of the respondents is not 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: 022-26578664, 022-26572197. Please click here to send email. Ajit Prasad Director    Press Release: 2021-2022/1078

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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Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in four tranches from October 2021 to March 2022 as per the calendar specified below: S.No. Tranche Date of Subscription Date of Issuance 1. 2021-22 Series VII October 25 – 29, 2021 November 02, 2021 2. 2021-22 Series VIII November 29- December 03, 2021 December 07, 2021 3. 2021-22 Series IX January 10-14, 2022 January 18, 2022 4. 2021-22 Series X February 28- March 04, 2022 March 08, 2022 The Bonds will be sold through Scheduled Commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited. The features of the Bond are as under: Sl.No. Item Details 1 Product name Sovereign Gold Bond 2021-22 2 Issuance To be issued by Reserve Bank of India on behalf of the Government of India. 3 Eligibility The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions. 4 Denomination The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. 5 Tenor The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates. 6 Minimum size Minimum permissible investment will be 1 gram of gold. 7 Maximum limit The maximum limit of subscription shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the Secondary Market. 8 Joint holder In case of joint holding, the investment limit of 4 KG will be applied to the first applicant only. 9 Issue price Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited for the last 3 working days of the week preceding the subscription period. The issue price of the Gold Bonds will be ₹50 per gram less for those who subscribe online and pay through digital mode. 10 Payment option Payment for the Bonds will be through cash payment (up to a maximum of ₹20,000) or demand draft or cheque or electronic banking. 11 Issuance form The Gold Bonds will be issued as Government of India Stock under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form. 12 Redemption price The redemption price will be in Indian Rupees based on simple average of closing price of gold of 999 purity, of previous 3 working days published by IBJA Ltd. 13 Sales channel Bonds will be sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Ltd. (CCIL), designated post offices (as may be notified) and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents. 14 Interest rate The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value. 15 Collateral Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time. 16 KYC documentation Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required. Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to individuals and other entities. 17 Tax treatment The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond. 18 Tradability Bonds will be tradable on stock exchanges. 19 SLR eligibility Bonds acquired by the banks through the process of invoking lien/hypothecation/pledge alone, shall be counted towards Statutory Liquidity Ratio. 20 Commission Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received by the receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them. Ajit Prasad Director    Press Release: 2021-2022/1075

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