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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: 2021-2022/182 |
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Small finance banks (SFBs) have been playing a prominent role by acting as a conduit for last mile supply of credit to individuals and small businesses. As announced on May 05, 2021, in the Statement by Shri Shaktikanta Das, Governor, Reserve Bank of India (RBI), with a view to provide further support to small business units, micro and small industries, and other unorganised sector entities adversely affected during the current wave of the pandemic, it has been decided to conduct special three-year long-term repo operations (SLTRO) of ₹10,000 crore at repo rate for the SFBs, to be deployed for fresh lending of up to ₹10 lakh per borrower. This facility will be available till October 31, 2021.
2. Accordingly, the Reserve Bank will conduct one auction for SLTRO each month. The first auction will be conducted on May 17, 2021 for ₹10,000 crore. The unutilised portion of notified ₹10,000 crore will be carried forward in each subsequent auction until fully utilised or till the last auction, whichever is earlier.
3. The details of auctions under the scheme are as below:
| Sl. No. | Date | Notified Amount (₹ crore) |
Tenor | Window Timing | Date of Reversal |
| 1 | May 17, 2021 | 10,000 | 3-year | 11:00 am to 11:30 am | May 16, 2024 |
| 2 | June 15, 2021 | Unutilised portion out of ₹10,000 crore from previous auction (s) | 3-year | 11:00 am to 11:30 am | June 14, 2024 |
| 3 | July 15, 2021 | 3-year | 11:00 am to 11:30 am | July 12, 2024 | |
| 4 | August 17, 2021 | 3-year | 11:00 am to 11:30 am | August 16, 2024 | |
| 5 | September 15, 2021 | 3-year | 11:00 am to 11:30 am | September 13, 2024 | |
| 6 | October 14, 2021 | 3-year | 11:00 am to 11:30 am | October 11, 2024 |
4. Other operational guidelines/details of the scheme are given in Annex-1.
(Yogesh Dayal)
Chief General Manager
Press Release: 2021-2022/181
The operational guidelines/ details of the SLTRO scheme are as under:
a) All Small Finance Banks (SFBs) eligible under the Liquidity Adjustment Facility (LAF) can participate in the Scheme. There is no tenor restriction regarding lending by SFBs under the scheme. However, the SFBs will have to ensure that the amount borrowed from the RBI should at all times be backed by lending to the specified segments till maturity of the SLTRO. Furthermore, SFBs should endeavour to lend within a reasonable period, i.e., not later than 30 days from the date of availing the funds from RBI.
b) SLTROs will be conducted on CBS (E-KUBER) platform. The operations would be conducted at a fixed rate. Banks would be required to place their requests for the amount sought under SLTRO during the window timing at the prevailing policy repo rate. Bids below or above policy rate will be rejected.
c) The Reserve Bank reserves the right to decide the quantum of allotment and/or accept/reject any or all the requests, either wholly/partially, without assigning any reason thereof.
d) In case of over-subscription of the notified amount, the allotment will be done on pro-rata basis. RBI will, however, reserve the right to inject marginally higher amount than the notified amount due to rounding effects.
e) The minimum bid amount would be Rupees one crore and multiples thereof. The allotment would be in multiples of Rupees one crore.
f) The reversal of these operations would take place at the ‘start of day’ on the day of maturity.
g) The eligible collateral for SLTROs and the applicable haircuts will remain the same as applicable for LAF.
h) All other terms and conditions as applicable to LAF operations, including facility for security substitution, will also be made applicable to the SLTROs, mutatis mutandis.
i) The amount utilised under the Scheme will be informed to market participants in the Money Market Operations (MMO) press release.
j) All queries/clarifications regarding operational aspects of the facility may be directed to the Financial Markets Operations Department through e-mail and/or telephone (022-22630982). All technical issues may be directed to the e-Kuber Helpdesk through email with a copy to laffmd@rbi.org.in and/or telephone (022-27595662/67/022-27595591 /92/93/94).
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The results of the auctions of 5.63% Government Stock 2026 (Re-Issue), GoI FRB 2033 (Re-Issue), 6.64% Government Stock 2035 (Re-Issue) and 6.67% Government Stock 2050 (Re-issue) held on May 07, 2021 are:
Ajit Prasad Press Release: 2021-2022/180 |
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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. The RRA will review the regulatory prescriptions internally as well as by seeking suggestions from the RBI regulated entities and other stakeholders on their simplification and ease of implementation. 2. The RRA has constituted an Advisory Group, representing members from regulated entities, including compliance officers, to support the RRA in achieving the objective set forth in the terms of reference of RRA 2.0. The Group will assist the RRA by identifying areas/ regulations/ guidelines/ returns which can be rationalized and submit reports periodically to RRA containing the recommendations/ suggestions. The composition of the Group is as under:
3. To undertake its preparatory work, the Group has decided to invite feedback and suggestions from all regulated entities, industry bodies and other stakeholders. The suggestion and feedback may be e-mailed latest by June 15, 2021 to the email with the subject line ‘Suggestions to the Advisory Group of RRA’. (Yogesh Dayal) Press Release: 2021-2022/179 |
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Ajit Prasad Press Release: 2021-2022/178 |
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In the underwriting auctions conducted on May 07, 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 Press Release: 2021-2022/175 |
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The following State Governments have offered to sell securities by way of auction, for an aggregate amount of ₹12,150 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. | Haryana | 1000 | – | 10 | Yield |
| 3. | Maharashtra | 1500 | – | 11 | Yield |
| 1500 | – | 12 | Yield | ||
| 4. | Mizoram | 150 | – | 12 | Yield |
| 5. | Rajasthan | 500 | – | 5 | Yield |
| 500 | – | 10 | Yield | ||
| 6. | Tamil Nadu | 1500 | – | Re-issue of 6.49% Tamil Nadu SDL 2050 issued on July 22, 2020 | Price |
| 1500 | – | Re-issue of 6.63% Tamil Nadu SDL 2055 issued on July 08, 2020 | Price | ||
| 7. | West Bengal | 2000 | – | 10 | Yield |
| Total | 12150 |
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 11, 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 May 11, 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 May 11, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on May 12, 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 November 12 and May 12 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: 2021-2022/173
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