Category: Press Releases

Reserve Bank of India – Press Releases

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In the underwriting auctions conducted on July 02, 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)
5.63% GS 2026 11,000 5,502 5,498 11,000 19.00
GoI FRB 2033 4,000 2,016 1,984 4,000 3.85
6.64% GS 2035 10,000 5,019 4,981 10,000 9.43
6.67% GS 2050 7,000 3,507 3,493 7,000 11.67
Auction for the sale of securities will be held on July 02, 2021.

Ajit Prasad
Director   

Press Release: 2021-2022/471

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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) 4,09,564.76 3.20 1.80-3.40
     I. Call Money 6,999.21 3.12 1.90-3.40
     II. Triparty Repo 2,98,886.60 3.20 3.00-3.23
     III. Market Repo 1,03,678.95 3.22 1.80-3.35
     IV. Repo in Corporate Bond 0.00   –
B. Term Segment      
     I. Notice Money** 524.55 3.22 2.75-3.30
     II. Term Money@@ 260.25 – 3.10-3.45
     III. Triparty Repo 500.00 3.22 3.22-3.22
     IV. Market Repo 540.00 2.84 1.00-3.15
     V. Repo in Corporate Bond 3,568.00 3.48 3.47-5.35
  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 Thu, 01/07/2021 1 Fri, 02/07/2021 5,02,074.00 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 Thu, 01/07/2021 1 Fri, 02/07/2021 2.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£          
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -5,02,072.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
    (ii) Reverse Repo          
    (iii) Special Reverse Repo~ Fri, 18/06/2021 14 Fri, 02/07/2021 960.00 3.75
    (iv) Special Reverse Repoψ Fri, 18/06/2021 14 Fri, 02/07/2021 40.00 3.75
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 18/06/2021 14 Fri, 02/07/2021 2,00,009.00 3.50
  (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
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
D. Standing Liquidity Facility (SLF) Availed from RBI$       19,178.80  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -98,538.20  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -6,00,610.20  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 01/07/2021 6,11,014.23  
     (ii) Average daily cash reserve requirement for the fortnight ending 02/07/2021 6,19,074.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 01/07/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 04/06/2021 8,57,660.00  
@ 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 and Press Release No. 2020-2021/1057 dated February 05, 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.
~ 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: 2021-2022/470

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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 an auction, for an aggregate amount of ₹13,400 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 1000 – 16 Yield
1000 – 17 Yield
2 Assam 500 – 5 Yield
3 Bihar 2000 – 6 Yield
4 Goa 100 – 10 Yield
5 Gujarat 1000 – 9 Yield
6 Maharashtra 1000 500 10 Yield
1000 – 11 Yield
7 Mizoram 100 – 13 Yield
8 Punjab 1200 – Re-issue of 6.95% Punjab SDL 2031 issued on June 30, 2021 Price
9 Rajasthan 1000 – 10 Yield
10 Tamil Nadu 1000 – 10 Yield
1000 – Re-issue of 6.83% Tamil Nadu SDL 2031 issued on June 23, 2021 Price
11 West Bengal 1500 – 7 Yield
  TOTAL 13,400      

The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on July 06, 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 July 06, 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 July 06, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on July 07, 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 January 07 and July 07 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: 2021-2022/469

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The Reserve Bank of India, in consultation with the State Governments/Union Territories (UTs), announces that the quantum of total market borrowings by the State Governments/UTs for the quarter July – September 2021, is expected to be ₹ 1,69,591 crore. The weekly schedule of auctions to be held during the quarter along with the name of States/UTs who have confirmed participation and tentative amounts indicated by them is as under:

Month Proposed Date Expected quantum of borrowing
(in ₹ Cr)		 States/UTs who have confirmed participation and
the tentative amount of borrowing (in ₹ Cr)
July, 2021 July 06, 2021 13400 Andhra Pradesh 2000
Assam 500
Bihar 2000
Goa 100
Gujarat 1000
Maharashtra 2000
Mizoram 100
Punjab 1200
Rajasthan 1000
Tamil Nadu 2000
West Bengal 1500
July 13, 2021 10400 Andhra Pradesh 1000
Bihar 2000
Goa 100
Maharashtra 2000
Punjab 800
Rajasthan 500
Tamil Nadu 1500
Uttarakhand 500
West Bengal 2000
July 19, 2021 7100 Assam 600
Gujarat 1500
Haryana 500
Kerala 1000
Maharashtra 1500
Punjab 500
Tamil Nadu 1500
July 27, 2021 15900 Chhattisgarh 1000
Goa 100
Gujarat 1500
Haryana 2500
Himachal Pradesh 1000
Maharashtra 2000
Punjab 800
Rajasthan 1500
Tamil Nadu 1500
Telangana 1000
Uttarakhand 500
West Bengal 2500
August, 2021 August 03, 2021 18651 Andhra Pradesh 2000
Assam 500
Bihar 2000
Goa 100
Gujarat 1000
Jammu & Kashmir 500
Jharkhand 500
Karnataka 2000
Kerala 1500
Madhya Pradesh 2000
Maharashtra 2000
Manipur 150
Meghalaya 150
Punjab 2000
Rajasthan 1000
Sikkim 251
Tamil Nadu 1000
August 10, 2021 14300 Bihar 2000
Goa 100
Haryana 2000
Kerala 1500
Maharashtra 2000
Punjab 700
Rajasthan 1000
Tamil Nadu 1000
Telangana 2000
West Bengal 2000
August 17, 2021 12250 Assam 600
Chhattisgarh 1000
Gujarat 1500
Karnataka 2000
Kerala 2000
Maharashtra 1500
Nagaland 150
Punjab 500
Tamil Nadu 1000
Uttarakhand 500
West Bengal 1500
August 24, 2021 9700 Assam 600
Goa 100
Haryana 1000
Kerala 1000
Maharashtra 2000
Punjab 500
Tamil Nadu 1000
Telangana 1000
West Bengal 2500
August 31, 2021 13500 Andhra Pradesh 2000
Assam 500
Chhattisgarh 1000
Gujarat 1500
Himachal Pradesh 1000
Madhya Pradesh 2000
Maharashtra 1500
Punjab 1000
Rajasthan 1500
Tamil Nadu 1000
Uttarakhand 500
September, 2021 September 07, 2021 20840 Andhra Pradesh 1000
Arunachal Pradesh 163
Bihar 2000
Goa 200
Gujarat 1000
Haryana 1000
Jammu & Kashmir 600
Jharkhand 500
Karnataka 2000
Kerala 1000
Madhya Pradesh 2000
Maharashtra 2000
Manipur 197
Meghalaya 200
Mizoram 80
Punjab 1500
Rajasthan 1000
Sikkim 400
Tamil Nadu 1000
Telangana 2000
West Bengal 1000
September 14, 2021 12400 Assam 600
Bihar 2000
Goa 100
Karnataka 2000
Maharashtra 2500
Punjab 700
Rajasthan 1000
Tamil Nadu 1000
Uttarakhand 500
West Bengal 2000
September 21, 2021 4650 Gujarat 1000
Maharashtra 2000
Nagaland 150
Punjab 500
Tamil Nadu 1000
September 28, 2021 16500 Assam 600
Chhattisgarh 1000
Goa 100
Gujarat 2000
Haryana 1000
Himachal Pradesh 1000
Madhya Pradesh 2000
Maharashtra 2000
Punjab 800
Rajasthan 1500
Tamil Nadu 1000
Uttarakhand 500
West Bengal 3000
Total 169591  

The actual amount of borrowings and the details of the States/UTs participating would be intimated by way of press releases two/ three days prior to the actual auction day and would depend on the requirement of the State Governments/UTs, approval from the Government of India under Article 293(3) of the Constitution of India and the market conditions. RBI would endeavour to conduct the auctions in a non-disruptive manner, taking into account the market conditions and other relevant factors and distribute the borrowings evenly throughout the quarter. RBI reserves the right to modify the dates and the amount of auction in consultation with State Governments/UTs.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/468

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Today, the Reserve Bank released the 23rd issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system in the context of contemporaneous issues relating to development and regulation of the financial sector.

Highlights:

  • Sustained policy support, benign financial conditions and the gathering momentum of vaccination are nurturing an uneven global recovery.

  • Policy support has helped in shoring up financial positions of banks, containing non-performing loans and maintaining solvency and liquidity globally.

  • On the domestic front, the ferocity of the second wave of COVID-19 has dented economic activity, but monetary, regulatory and fiscal policy measures have helped curtail the solvency risk of financial entities, stabilise markets, and maintain financial stability.

  • The capital to risk-weighted assets ratio (CRAR) of scheduled commercial banks (SCBs) increased to 16.03 per cent and the provisioning coverage ratio (PCR) stood at 68.86 per cent in March 2021.

  • Macro stress tests indicate that the gross non-performing asset (GNPA) ratio of SCBs may increase from 7.48 per cent in March 2021 to 9.80 per cent by March 2022 under the baseline scenario; and to 11.22 per cent under a severe stress scenario, although SCBs have sufficient capital, both at the aggregate and individual level, even under stress.

  • Going forward, as banks respond to credit demand in a recovering economy, they will need to reinforce their capital and liquidity positions to fortify themselves against potential balance sheet stress.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/467

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The Reserve Bank releases monthly data on India’s international trade in services with a lag of around 45 days.

The value of exports and imports of services during the month of May 2021 are given in the following Table.

Table: International Trade in Services
(US$ Million)
Month Receipts (Exports) Payments (Imports)
January – 2021 17,365
(-5.4)		 9,877
(-9.3)
February – 2021 17,842
(4.1)		 10,380
(3.3)
March – 2021 20,797
(18.4)		 12,263
(21.5)
April – 2021 17,547
(14.1)		 9,896
(18.6)
May – 2021 17,357
(10.7)		 10,233
(14.8)
Notes: (i) Data for April-May are provisional while those for January-March are revised on pro-rata basis using balance of payments data of Q4:2020-21 released on June 30, 2021.
(ii) Figures in brackets are growth rates over corresponding month’s data which have been revised on the basis of balance of payments statistics released on June 30, 2021.

Monthly data on services are provisional and would undergo revision when the Balance of Payments (BoP) data are released on a quarterly basis.

Ajit Prasad
Director   

Press Release: 2021-2022/466

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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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The Reserve Bank of India will conduct a Variable Rate Reverse Repo auction on July 02, 2021, Friday, as under:

Sl. No. Notified Amount
(₹ crore)		 Tenor
(day)		 Window Timing Date of Reversal
1 2,00,000 14 10:30 AM to 11:00 AM July 16, 2021 (Friday)

2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

Ajit Prasad
Director   

Press Release: 2021-2022/464

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In terms of Government of India Notification F.No.4(10)-B(W&M)/2020 dated June 26, 2020 on Floating Rate Savings Bonds, 2020 (Taxable) – FRSB 2020 (T), the coupon/interest rate of the bond would be reset half yearly, starting with Jan 1st, 2021 and the coupon/interest rate will be set at a spread of (+) 35 bps over the prevailing NSC rate.

2. The coupon rate on FRSB 2020 (T) for period July 1, 2021 to December 31, 2021 and payable on January 1, 2022 remains at 7.15% (6.80% + 0.35% = 7.15%), unchanged from the previous half-year.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/463

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