Reserve Bank of India – Press Releases
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Category: Press Releases
Reserve Bank of India – Press Releases
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The Reserve Bank of India, in exercise of powers vested in it under Sub-Section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (AACS), had, in the public interest, issued Directions to Hindu Cooperative Bank Limited, Pathankot, Punjab, from the close of business on March 25, 2019. The Directions have been extended from time to time the validity of which was last extended upto September 24, 2021. These Directions shall continue to apply to the bank for a further period of one month from September 25, 2021 to October 24, 2021, subject to review. A copy of the Directions dated September 24, 2021 is displayed at the bank’s premises for interested members of public to peruse. Reserve Bank of India may consider modifications in Directions depending upon the circumstances. The issue of Directions should not per se be construed as cancellation of banking license by the Reserve Bank of India. The bank will be able to undertake banking business with restrictions till its financial position improves. (Yogesh Dayal) Press Release: 2021-2022/931 |
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Ajit Prasad Press Release: 2021-2022/930 |
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Reserve Bank of India – Press Releases
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The following State Governments have offered to sell securities by way of auction, for an aggregate amount of ₹17,323.86 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 | – | 17 | Yield |
| 500 | – | 20 | Yield | ||
| 2 | Assam | 600 | – | 10 | Yield |
| 3 | Goa | 100 | – | 10 | Yield |
| 4 | Jammu and Kashmir | 500 | – | 15 | Yield |
| 5 | Kerala | 1500 | – | 15 | Yield |
| 6 | Maharashtra | 2000 | – | Re-issue of 6.78% Maharashtra SDL 2031 Issued on May 25, 2021 | Price |
| 7 | Meghalaya | 100 | – | 2 | Yield |
| 100 | – | Re-issue of 4.95% Meghalaya SDL 2024 Issued on September 08, 2021 | Price | ||
| 8 | Puducherry | 123.86 | – | 5 | Yield |
| 9 | Punjab | 1000 | – | 10 | Yield |
| 1000 | – | 12 | Yield | ||
| 10 | Rajasthan | 1000 | – | 6 | Yield |
| 1000 | – | 12 | Yield | ||
| 11 | Telangana | 1000 | – | 16 | Yield |
| 12 | Tripura | 300 | – | 15 | Yield |
| 13 | Uttar Pradesh | 2500 | – | 10 | Yield |
| 14 | West Bengal | 3500 | – | 15 | Yield |
| TOTAL | 17323.86 |
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on September 28, 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 September 28, 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 September 28, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on September 29, 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 March 29 and September 29 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: 2021-2022/929
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Reserve Bank of India – Press Releases
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The Reserve Bank of India, vide directive DCBS.CO.BSD-I/D-16/12.22.474/2018-19 dated June 21, 2019, had placed Shri Anand Co-operative Bank Limited, Chinchwad, Pune, Maharashtra under Directions from the close of business on June 25, 2019 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to September 24, 2021. 2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till November 24, 2021 as per the directive DOR.MON.D-37/12.22.474/2021-22 dated September 23, 2021, subject to review. 3. All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated September 23, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of public 4. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank. (Yogesh Dayal) Press Release: 2021-2022/928 |
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The Reserve Bank of India (RBI) has, by an order dated September 23, 2021, imposed a monetary penalty of ₹79.00 lakh (Rupees seventy-nine lakh only) on Apna Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and other related matters (IRAC norms)’, ‘Interest Rate on Deposits’ and ‘Maintenance of Deposit Accounts’. 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 Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid directions issued by RBI. 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 the 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 directions issued by RBI on NPA classification, payment of interest on deposits lying in current accounts of deceased individual depositors or sole proprietorship concerns while settling the claims and levying of penal charges in savings bank accounts for non-maintenance of minimum balances. 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 aforesaid directions. After considering the bank’s reply to the notice, additional submissions and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions were substantiated and warranted imposition of monetary penalty, to the extent of non-compliance with the aforesaid directions. (Yogesh Dayal) Press Release: 2021-2022/926 |
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Reserve Bank of India – Press Releases
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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, September 29, 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, September 30, 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: 2021-2022/927 |
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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 Press Release: 2021-2022/925 |
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Reserve Bank of India – Press Releases
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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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