Category: Press Releases

Reserve Bank of India, in the public interest, had issued directions to Dr.Shivajirao Patil Nilangekar UCBL, Nilanga, District Latur, Maharashtra in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) from the close of business on February 16, 2019. These directions were modified from time to time, the validity of which was last extended upto June 14, 2021. These directions shall continue to apply to the bank for a further period of one month from June 15, 2021 to July 14, 2021, subject to review. The Directions stipulate certain restrictions and / or ceiling on withdrawal / acceptance of deposits. A copy of Directions is displayed at the bank’s premises for interested members of public to peruse. Reserve Bank of India may consider modifications of the 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 continue to undertake banking business with restrictions till its financial position improves. (Yogesh Dayal)      Chief General Manager Press Release: 2021-2022/362

Government of India (GOI) has announced the sale (re-issue) of four dated securities for a notified amount of ₹32,000 crore as per the following details:

Sr No	Security	Date of Repayment	Notified Amount (₹ crore)	GoI specific Notification	Auction Date	Settlement Date
1	5.63% GS 2026	April 12, 2026	11,000	F.No.4(3)-B(W&M)/2021 dated June 14, 2021	June 18, 2021 (Friday)	June 21, 2021 (Monday)
2	GoI FRB 2033*	September 22, 2033	4,000
3	6.64% GS 2035	June 16, 2035	10,000
4	6.67% GS 2050	December 17, 2050	7,000
	Total		32,000
*The base rate for the coupon payment for the period ending September 21, 2021 shall be 3.48 per cent per annum.

2. GoI will have the option to retain additional subscription up to ₹8,000 crore against above security/securities.

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. 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 June 18, 2021. 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 June 21, 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 June 18, 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 June 15, 2021 – June 18, 2021.

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

Ajit Prasad
Director   

Press Release: 2021-2022/361

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ANNEX

Type of Auction

1. The auction will be a multiple price-based auction i.e. successful bids will get accepted at their respective quoted price for the security.

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).

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

The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0), initially for a period of one year from May 01, 2021, vide press release dated April 15, 2021. 2. A Group of Advisors (GoA) to assist RRA was also constituted on May 07, 2021. To undertake its preparatory work, the Group has invited feedback and suggestions from all regulated entities, industry bodies and other stakeholders. The last date for sending the suggestion and feedback to the Group is June 15, 2021. 3. Keeping in view the COVID-19 related disruptions and based on the requests received from stakeholders, it has been decided to extend the timeline for submission of feedback and suggestions to the Group till June 30, 2021. (Yogesh Dayal)      Chief General Manager Press Release: 2021-2022/359

(Amount in ₹ crore, Rate in Per cent)   Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 0.00 – –      I. Call Money 0.00 – –      II. Triparty Repo 0.00 – –      III. Market Repo 0.00 – –      IV. Repo in Corporate Bond 0.00 – – B. Term Segment            I. Notice Money** 0.00 – –      II. Term Money@@ 0.00 – –      III. Triparty Repo 0.00 – –      IV. Market Repo 0.00 – –      V. Repo in Corporate Bond 0.00 – –

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 Sun, 13/06/2021 1 Mon, 14/06/2021 1,699.00 3.35      (iii) Special Reverse Repo~           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo – – – – – 3. MSF Sun, 13/06/2021 1 Mon, 14/06/2021 111.00 4.25 4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£           5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,588.00   II. Outstanding Operations 1. Fixed Rate                (i) Repo                (ii) Reverse Repo Sat, 12/06/2021 2 Mon, 14/06/2021 2,304.00 3.35   Fri, 11/06/2021 3 Mon, 14/06/2021 3,62,304.00 3.35      (iii) Special Reverse Repo~ Fri, 04/06/2021 14 Fri, 18/06/2021 150.00 3.75 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo Fri, 04/06/2021 14 Fri, 18/06/2021 2,00,029.00 3.46   (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo           3. MSF Sat, 12/06/2021 2 Mon, 14/06/2021 11.00 4.25   Fri, 11/06/2021 3 Mon, 14/06/2021 27.00 4.25 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 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 D. Standing Liquidity Facility (SLF) Availed from RBI$       1,662.00   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -4,80,605.00   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -4,82,193.00   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 13/06/2021 6,12,178.96     12/06/2021 6,13,571.81        (ii) Average daily cash reserve requirement for the fortnight ending 18/06/2021 6,11,914.00   H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 11/06/2021 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 21/05/2021 8,43,197.00   @ 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. Ajit Prasad Director    Press Release: 2021-2022/358

(Amount in ₹ crore, Rate in Per cent)   Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 3,67,237.89 3.26 1.90-5.30      I. Call Money 6,926.87 3.10 1.90-3.40      II. Triparty Repo 2,52,859.75 3.26 2.92-3.37      III. Market Repo 1,07,432.27 3.29 2.00-3.40      IV. Repo in Corporate Bond 19.00 5.30 5.30-5.30 B. Term Segment            I. Notice Money** 158.11 3.02 2.75-3.25      II. Term Money@@ 669.50 – 3.15-3.70      III. Triparty Repo 385.10 3.25 3.25-3.26      IV. Market Repo 509.86 3.19 3.15-3.45      V. Repo in Corporate Bond 1,000.00 3.45 3.45-3.45

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 Fri, 11/06/2021 3 Mon, 14/06/2021 3,62,304.00 3.35      (iii) Special Reverse Repo~           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo – – – – – 3. MSF Fri, 11/06/2021 3 Mon, 14/06/2021 27.00 4.25 4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£           5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -3,62,277.00   II. Outstanding Operations 1. Fixed Rate                (i) Repo                (ii) Reverse Repo                (iii) Special Reverse Repo~ Fri, 04/06/2021 14 Fri, 18/06/2021 150.00 3.75 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo Fri, 04/06/2021 14 Fri, 18/06/2021 2,00,029.00 3.46   (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 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 D. Standing Liquidity Facility (SLF) Availed from RBI$       1,662.00   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -1,16,035.00   F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -4,78,312.00   G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 11/06/2021 6,15,890.88        (ii) Average daily cash reserve requirement for the fortnight ending 18/06/2021 6,11,914.00   H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 11/06/2021 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 21/05/2021 8,43,197.00   @ 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. Ajit Prasad Director    Press Release: 2021-2022/357

Today, the Reserve Bank of India releases Volume 41, No.2, 2020 of its Occasional Papers, a research journal containing contributions from its staff. This issue contains four articles and two book reviews.

Articles:

1. Macroeconomic Implications of Bank Capital Regulations

Ranajoy Guha Neogi and Harendra Behera examine the role of regulatory bank capital in influencing credit flows and GDP growth. They find that higher capital tends to lower risk premium and overall cost of liabilities of banks, which in turn helps augment credit growth. Regulatory capital to risk weighted assets ratio (CRAR) is also found to work like a macro-prudential tool as a higher CRAR triggers loan portfolio reallocation in banks away from unsecured high-risk loan towards secured and low risk loans.

2. Education Loan NPAs in Tamil Nadu: Issues and Challenges

In this article, Shromona Ganguly and Deepa S. Raj study the determinants of default in education loans in Tamil Nadu. They use account level data of over two lakh borrowers from two public sector banks and one private sector bank in an attempt to identify significant predictors of default. Empirical analysis suggests that loan accounts with higher interest rate and of lower duration have higher default probability while loans extended to accounts with Aadhar information, collateral backing or some subsidy element have a lower risk of default.

3. An Alternative Measure of Economic Slack to Forecast Core Inflation

Saurabh Sharma and Ipsita Padhi propose an alternative indicator of economic slack using a variety of high frequency indicators. The authors find that the estimated index captures macroeconomic demand conditions efficiently and is also available at a higher frequency as compared to other conventional measures, which are generally calculated by applying statistical filters on the GDP data. In terms of forecasting performance, the estimated index emerges as a better predictor of core inflation than other measures.

4. Long Run Saving – Investment Relationship in India

Bichitrananda Seth, Kunal Priyadarshi and Avdhesh Kumar Shukla revisit the Feldstein-Horioka Puzzle, i.e. close association between domestic savings and investment rates notwithstanding growing openness to cross-border capital flows, which is still observed to hold across advanced economies and emerging markets. The study finds that the association between saving and investment rate weakened after 1991 in India following reforms but has strengthened since the global financial crisis of 2007-08. This may suggest a reduced contribution of foreign inflows in financing investment activity after the global financial crisis. Empirical results of the study indicate that in the event of short-run deviations from the steady-state relationship between domestic savings and investment, the equilibrium is restored in about two years.

Book Reviews:

This issue of the RBI Occasional Papers also contains two book reviews:

1. Rasmi Ranjan Behera reviews the book “Firefighting: The Financial Crisis and its Lessons” written by Ben S. Bernanke, Timothy F. Geithner and Henry M. Paulson, Jr. The book provides an excellent narration of the 2008 global financial crisis and the way it was managed. The authors warn on the certainty of financial crises occurring in the future and offer advice to prepare better by providing stronger emergency time policy tools to the regulators.

2. Priyanka Upreti reviews the book “Agricultural Growth and Rural Poverty Reduction in India” written by Seema Bathla, Pramod Kumar Joshi and Anjani Kumar. The book has measured the relationship between public and private investment in agriculture and assessed the impact on farm productivity, income and poverty alleviation.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/356

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No Treasury Bill Notified Amount (in ₹ crore) Auction Date Settlement date 1 91 Days 15,000 June 16, 2021 (Wednesday) June 17, 2021 (Thursday) 2 182 Days 15,000 3 364 Days 6,000   Total 36,000     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, June 16, 2021, during the below given timings: Category Timing Competitive bids 10:30 am – 11:30 am Non-Competitive bids 10:30 am – 11:00 am Results will be announced on the day of the auction. Payment by successful bidders to be made on Thursday, June 17, 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: 2021-2022/355

1. Reserve Bank of India – Liabilities and Assets* (₹ Crore) Item 2020 2021 Variation Jun. 5 May 28 Jun. 4 Week Year 1 2 3 4 5 4 Loans and Advances           4.1 Central Government – – – – – 4.2 State Governments 8806 6473 11235 4762 2429 * Data are provisional. 2. Foreign Exchange Reserves Item As on June 4, 2021 Variation over Week End-March 2021 Year ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. 1 2 3 4 5 6 7 8 1 Total Reserves 4417018 605008 83554 6842 198066 28024 625005 103305 1.1 Foreign Currency Assets 4094919 560890 84842 7362 170751 24197 590620 97260 1.2 Gold 274540 37604 -1522 -502 26817 3724 30007 5252 1.3 SDRs 11050 1513 75 -1 186 28 149 71 1.4 Reserve Position in the IMF 36510 5000 159 -16 312 75 4229 722 *Difference, if any, is due to rounding off 4. Scheduled Commercial Banks – Business in India (₹ Crore) Item Outstanding as on May. 21, 2021 Variation over Fortnight Financial year so far Year-on-year 2020-21 2021-22 2020 2021 1 2 3 4 5 6 2 Liabilities to Others             2.1 Aggregate Deposits 15166808 -50058 262423 53280 1330357 1336894 2.1a Growth (Per cent)   –0.3 1.9 0.4 10.6 9.7 2.1.1 Demand 1694752 -25017 -172096 -166457 131818 249845 2.1.2 Time 13472056 -25041 434519 219737 1198539 1087049 2.2 Borrowings 244661 5773 -18650 636 -67020 -46128 2.3 Other Demand and Time Liabilities 563200 -14704 -84761 -93414 34521 44285 7 Bank Credit 10833589 -36399 -148108 -115923 601208 610835 7.1a Growth (Per cent)   –0.3 –1.4 –1.1 6.2 6.0 7a.1 Food Credit 90663 5569 27652 29409 13694 11247 7a.2 Non-food credit 10742926 -41968 -175760 -145332 587514 599589 6. Money Stock: Components and Sources (₹ Crore) Item Outstanding as on Variation over 2021 Fortnight Financial Year so far Year-on-Year 2020-21 2021-22 2020 2021 Mar. 26 May 21 Amount % Amount % Amount % Amount % Amount % 1 2 3 4 5 6 7 8 9 10 11 12 M3 18773142 18933423 -27806 -0.1 430945 2.6 160281 0.9 1809831 11.7 1702515 9.9 1 Components (1.1.+1.2+1.3+1.4)                         1.1 Currency with the Public 2757847 2862466 23145 0.8 163038 6.9 104618 3.8 395420 18.7 349679 13.9 1.2 Demand Deposits with Banks 1984261 1819170 -24360 -1.3 -172942 -10.0 -165091 –8.3 136998 9.6 254420 16.3 1.3 Time Deposits with Banks 13983686 14203336 -26147 -0.2 437828 3.5 219650 1.6 1264337 10.7 1091492 8.3 1.4 ‘Other’ Deposits with Reserve Bank 47347 48451 -445 -0.9 3021 7.8 1104 2.3 13076 46.0 6923 16.7 2 Sources (2.1+2.2+2.3+2.4-2.5)                         2.1 Net Bank Credit to Government 5692569 5823113 -148360 -2.5 591230 11.9 130543 2.3 947185 20.6 271520 4.9 2.1.1 Reserve Bank 982063 1025199 -128203   273808   43136   386791   -240801   2.1.2 Other Banks 4710506 4797914 -20157 -0.4 317422 8.0 87407 1.9 560394 15.0 512322 12.0 2.2 Bank Credit to Commercial Sector 11610050 11486691 -41912 -0.4 -164204 -1.5 -123360 –1.1 644781 6.3 612250 5.6 2.2.1 Reserve Bank 8524 1435 -4542   -7486   -7089   -3565   -4245   2.2.2 Other Banks 11601526 11485256 -37370 -0.3 -156718 -1.4 -116270 –1.0 648346 6.3 616495 5.7 8. Liquidity Operations by RBI (₹ Crore) Date Liquidity Adjustment Facility MSF* Standing Liquidity Facilities Market Stabili sation Sche me OMO (Outright) Long Term Repo Opera tions & Targeted Long Term Repo Opera tions# Special Long- Term Repo Operations for Small Finance Banks Special Reverse Repo£ Net Injection (+)/ Absorption (-) (1+3+5+6 +9+10+11+12-2-4-7-8-13) Repo Reverse Repo* Variable Rate Repo Variable Rate Reverse Repo Sale Purchase 1 2 3 4 5 6 7 8 9 10 11 12 13 14 May 31, 2021 – 359149 – – 0 – – – 795 – – – – -358354 Jun. 1, 2021 – 402563 – – 0 – – – 500 – – – – -402063 Jun. 2, 2021 – 404497 – – 0 – – – – – – – – -404497 Jun. 3, 2021 – 406786 – – 209 – – – 290 – – – – -406287 Jun. 4, 2021 – 358822 – 200029 0 – – – 620 – – – 150 -558381 Jun. 5, 2021 – 35574 – – 1021 – – – – – – – – -34553 Jun. 6, 2021 – 999 – – 38 – – – – – – – – -961 * Includes additional Reverse Repo and additional MSF operations (for the period December 16, 2019 to February 13, 2020) # Includes Targeted Long Term Repo Operations (TLTRO) and Targeted Long Term Repo Operations 2.0 (TLTRO 2.0) and On Tap Targeted Long Term Repo Operations. Negative (-) sign indicates repayments done by Banks. & Negative (-) sign indicates repayments done by Banks. £ As per the Press Release: 2021-2022/177 dated May 07, 2021, as an additional incentive Banks are eligible to park their surplus liquidity up to the size of the COVID loan book under a special 14-day reverse repo window to be conducted on each reporting Friday at a rate which is 25 bps lower than the repo rate. 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 Director    Press Release: 2021-2022/354

The results of the auctions of 4.26% Government Stock 2023 (Re-Issue), 5.85% Government Stock 2030 (Re-Issue), 6.76% Government Stock 2061 (Re-Issue) held on June 11, 2021 are: Auction Results 4.26 GS 2023* 5.85% GS 2030 6.76% GS 2061 I. Notified Amount ₹3000 Crore ₹14000 Crore ₹9000 Crore II. Underwriting Notified Amount ₹3000 Crore ₹14000 Crore ₹9000 Crore III. Competitive Bids Received       (i) Number 147 291 250 (ii) Amount ₹16659.118 Crore ₹39125 Crore ₹25662 Crore IV. Cut-off price / Yield 100.12 98.97 97.27 (YTM: 4.1929%) (YTM: 5.9938%) (YTM: 6.9625%) V. Competitive Bids Accepted       (i) Number 18 4 78 (ii) Amount ₹3747.823 Crore ₹4000 Crore ₹8990.879 Crore VI. Partial Allotment Percentage of Competitive Bids 76.26% (6 Bids) 0% (0 Bids) 31.10% (2 Bids) VII. Weighted Average Price/Yield 100.14 98.99 97.34 (WAY: 4.1820%) (WAY: 5.9910%) (WAY: 6.9572%) VIII. Non-Competitive Bids Received       (i) Number 3 6 6 (ii) Amount ₹2.177 Crore ₹24.237 Crore ₹9.121 Crore IX. Non-Competitive Bids Accepted       (i) Number 3 6 6 (ii) Amount ₹2.177 Crore ₹24.237 Crore ₹9.121 Crore (iii) Partial Allotment Percentage 100% (0 Bids) 100% (0 Bids) 100% (0 Bids) X. Amount of Underwriting accepted from primary dealers ₹3000 Crore ₹14000 Crore ₹9000 Crore XI. Devolvement on Primary Dealers 0 ₹9975.763 Crore 0 * Greenshoe amount of ₹750 crore has been accepted Ajit Prasad Director    Press Release: 2021-2022/353