Category: Press Releases

Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months subject to review, vide Directive dated October 26, 2018. The validity of the directions was last extended vide Directive dated June 09, 2021 for three months up to September 09, 2021, subject to review.

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 35A of Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive dated October 26, 2018, issued to the above bank, the validity of which was last extended up to September 09, 2021, shall continue to apply to the bank for a further period of three months from September 10, 2021 to December 09, 2021, vide Directive dated September 07, 2021, subject to review.

All the other terms and conditions of the Directive under reference shall remain unchanged. A copy of the above Directive dated September 07, 2021 notifying the extension is displayed at the bank’s premises for the perusal of public.

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)     
Chief General Manager

Press Release: 2021-2022/844

With a view to streamlining the customer complaint handling process and making it more effective, the process for redressal of customer complaints of investors of Sovereign Gold Bond shall be as follows:

1. The nodal officer/s of the Receiving office (RO) shall be the first point of contact for attending to the queries/complaints of their customers.

2. In case the issue is unresolved, an escalation matrix at the ROs shall be used to resolve customer grievance.

3. The investor may approach Reserve Bank of India at sgb@rbi.org.in if no reply is received from the RO within a period of one month of lodging the complaint or the investor is not satisfied with the response of the RO.

2. Accordingly, the details of the nodal officers of all ROs have been included in paragraph 18 of the circular on Consolidated Procedural Guidelines on SGB No IDMD.CDD.2730/14.04.050/2019-20 dated April 13, 2020.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/840

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 15, 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 16, 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: 2021-2022/842

Ajit Prasad
Director   

Press Release: 2021-2022/841

India is the current Chair of the BRICS. In the Second BRICS Finance Ministers’ and Central Bank Governors (FMCBG) Meeting held on August 26, 2021, the Reserve Bank of India tabled the Report on Digital Financial Inclusion in BRICS; the e-Booklet on BRICS Information Security Regulations; and the Compendium of BRICS Best Practices on Information Security Risks: Supervision and Control, which were prepared by the respective teams of the BRICS central banks. The BRICS FMCBG approved these documents during this meeting.

The Report on Digital Financial Inclusion in BRICS provides a glimpse of the initiatives, innovations and reforms undertaken in the BRICS countries in the area of financial inclusion by leveraging digital technology tools and by mapping them against select G-20 High-Level Policy Guidelines on digital financial inclusion.

The e-booklet on Information Security Regulations and the Compendium of BRICS Best Practices on Information Security Risks cover information security regulations and best practices across the BRICS jurisdictions, with an objective of strengthening the cyber incidents management systems.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/839

Ajit Prasad
Director   

Press Release: 2021-2022/836

In the underwriting auctions conducted on September 09, 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:

Ajit Prasad
Director   

Press Release: 2021-2022/835