Category: Press Releases

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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Shri Shaktikanta Das, Governor, Reserve Bank of India (RBI) held a meeting with the MD/CEOs of select NBFC-MFIs on May 3, 2021 through video conference. The meeting was attended by Deputy Governors Shri M. K. Jain, Dr. M.D. Patra and a few other senior officials of RBI.

In his opening remarks, the Governor recognised the important role of NBFC-MFIs in making credit accessible at grassroots level. He also emphasised the supervisory expectations in terms of maintaining their business resilience and managing risks prudently. He advised the NBFC-MFIs to pay focussed attention on strict adherence to fair practices code, improve customer grievance redress mechanism and strengthen their IT systems in the interest of the institutions and their customers.

Among other matters, the following issues were discussed in the meeting.

  • Assessment of current economic situation;

  • Credit flows to borrowers of MFIs;

  • Outlook on potential stress on balance sheets of NBFC-MFIs.

  • Liquidity scenario.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/151

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In pursuance with the Government of India notification dated May 03, 2021, Shri T. Rabi Sankar took over as the Deputy Governor of Reserve Bank of India today for a period of three years or until further orders, whichever is earlier.

Shri T. Rabi Sankar was Executive Director of the Reserve Bank before being elevated to the post of Deputy Governor.

Shri T. Rabi Sankar, a career central banker joined the Bank in 1990 and has worked in various positions in Reserve Bank of India. As Executive Director, he was looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department in RBI. His areas of expertise include exchange rate management, reserves portfolio management, public debt management, monetary operations and development, regulation and surveillance of financial markets, payment systems and IT infrastructure.

Shri T. Rabi Sankar has served as an IMF Consultant (2005-11) on developing Government bond markets and debt management. He represented RBI on international forums like Bank for International Settlements and various internal and external expert committees and working groups. In addition to his professional career at RBI, he is Chairman, Indian Financial Technology and Allied Services (IFTAS), member of Board of Directors, ReBIT and member of Governing Council IDRBT.

Shri T. Rabi Sankar has a Master of Philosophy in Economics from the Jawaharlal Nehru University, New Delhi.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/150

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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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(Amount in ₹ crore, Rate in Per cent)
  Volume
(One Leg)		 Weighted
Average Rate 		Range
A. Overnight Segment (I+II+III+IV) 4,01,160.82 3.23 0.01-3.50
     I. Call Money 10,583.16 3.21 1.90-3.50
     II. Triparty Repo 2,91,345.70 3.25 3.01-3.28
     III. Market Repo 97,419.96 3.16 0.01-3.45
     IV. Repo in Corporate Bond 1,812.00 3.44 3.40-3.45
B. Term Segment      
     I. Notice Money** 362.65 3.32 2.65-3.40
     II. Term Money@@ 465.95 – 2.50-3.50
     III. Triparty Repo 200.00 3.24 3.24-3.24
     IV. Market Repo 0.00 – –
     V. Repo in Corporate Bond 1,550.00 3.43 3.43-3.43
  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, 30/04/2021 3 Mon, 03/05/2021 4,19,013.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo – – – – –
3. MSF Fri, 30/04/2021 3 Mon, 03/05/2021 342.00 4.25
4. Long-Term Repo Operations –   –   –
5. Targeted Long Term Repo Operations – – – – –
6. Targeted Long Term Repo Operations 2.0 – – – – –
7. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -4,18,671.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 23/04/2021 14 Fri, 07/05/2021 2,00,017.00 3.47
  (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
D. Standing Liquidity Facility (SLF) Availed from RBI$       22,702.06  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -95,232.94  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -5,13,903.94  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 30/04/2021 5,79,344.31  
     (ii) Average daily cash reserve requirement for the fortnight ending 07/05/2021 5,38,082.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 30/04/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 09/04/2021 7,12,322.00  
@ 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.
Rupambara
Director   
Press Release : 2021-2022/148

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The 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 May 05, 2021
(Wednesday)		 May 06, 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, May 05, 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, May 06, 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).

Rupambara
Director   

Press Release: 2021-2022/147

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The Reserve Bank of India vide directive DCBS.CO.BSD-I./D-9/12.22.111/2016-17 dated March 30, 2017 had placed The Kapol Co-operative Bank Ltd, Mumbai, Maharashtra under Directions from the close of business on March 30, 2017 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to April 30, 2021.

2. It is hereby notified for the information of the public that 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 October 31, 2021 as per the directive DOR.MON.D-7/12.22.111/2021-22 dated April 29, 2021, subject to review.

3. All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated April 29, 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 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: 2021-2022/146

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1. Reserve Bank of India – Liabilities and Assets*
(₹ Crore)
Item 2020 2021 Variation
Apr. 24 Apr. 16 Apr. 23 Week Year
1 2 3 4 5
4 Loans and Advances          
4.1 Central Government 111985 – – – -111985
4.2 State Governments 1063 5384 2363 -3021 1300
* Data are provisional.

2. Foreign Exchange Reserves
Item As on April 23, 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 4381700 584107 51613 1701 162747 7123 715914 104652
1.1 Foreign Currency Assets 4063227 541647 44171 1062 139059 4953 687137 100083
1.2 Gold 269822 35969 6979 615 22099 2088 18271 3068
1.3 SDRs 11288 1505 150 7 424 19 423 84
1.4 Reserve Position in the IMF 37363 4987 312 18 1165 63 10082 1417
*Difference, if any, is due to rounding off

4. Scheduled Commercial Banks – Business in India
(₹ Crore)
Item Outstanding as on Apr. 9, 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 15214886 101357 147098 101357 1184427 1500295
2.1a Growth (Per cent)   0.7 1.1 0.7 9.5 10.9
2.1.1 Demand 1743506 -117703 -140818 -117703 107962 267320
2.1.2 Time 13471380 219060 287916 219060 1076465 1232975
2.2 Borrowings 244596 571 -10755 571 -73264 -54088
2.3 Other Demand and Time Liabilities 582899 -73715 -40165 -73715 81163 19388
7 Bank Credit 10889179 -60333 -32957 -60333 693118 551275
7.1a Growth (Per cent)   –0.6 –0.3 –0.6 7.2 5.3
7a.1 Food Credit 49699 -11555 2309 -11555 18143 -4374
7a.2 Non-food credit 10839480 -48778 -35266 -48778 674975 555649

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 Apr. 9 Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 18773048 18907383 134335 0.7 189612 1.1 134335 0.7 1569000 10.2 1917807 11.3
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 2757754 2787941 30186 1.1 39810 1.7 30186 1.1 303955 14.6 398382 16.7
1.2 Demand Deposits with Banks 1984261 1867606 -116655 -5.9 -141212 -8.1 -116655 –5.9 112793 7.6 271126 17.0
1.3 Time Deposits with Banks 13983686 14205545 221859 1.6 290095 2.3 221859 1.6 1140666 9.6 1241434 9.6
1.4 ‘Other’ Deposits with Reserve Bank 47347 46292 -1055 -2.2 919 2.4 -1055 –2.2 11586 41.6 6866 17.4
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 5692569 6045801 353232 6.2 405051 8.2 353232 6.2 835303 18.4 680388 12.7
2.1.1 Reserve Bank 982063 1246043 263980   178856   263980   288104   74995  
2.1.2 Other Banks 4710506 4799759 89252 1.9 226195 5.7 89252 1.9 547199 15.0 605394 14.4
2.2 Bank Credit to Commercial Sector 11610050 11552069 -57981 -0.5 -47361 -0.4 -57981 –0.5 740777 7.2 560786 5.1
2.2.1 Reserve Bank 8524 8672 147   -5554   147   -1453   1060  
2.2.2 Other Banks 11601526 11543398 -58129 -0.5 -41807 -0.4 -58129 –0.5 742230 7.2 559726 5.1

8. Liquidity Operations by RBI
(₹ Crore)
Date Liquidity Adjustment Facility MSF* Standing Liquidity Facilities Market Stabilisation Scheme OMO (Outright) Long Term Repo Operations & Targeted Long Term Repo Operations# Special Liquidity Facility for Mutual Funds Special Liquidity Scheme for NBFCs/ HFCs** Net Injection (+)/ Absorption (-) (1+3+5+6+9+ 10+11+12+13- 2-4-7-8)
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
Apr. 19, 2021 – 489904 – – 0 – – – – – – – – -489904
Apr. 20, 2021 – 378478 – – 0 – – – – – – – – -378478
Apr. 21, 2021 – 48336 – – 5974 – – – – – – – – -42362
Apr. 22, 2021 – 421947 – – 0 – – – 15000 – – – – -406947
Apr. 23, 2021 – 390042 – 200017 149 – – – – – – – – -589910
Apr. 24, 2021 – 5969 – – 130 – – – – – – – – -5839
Apr. 25, 2021 – 6644 – – 82 – – – – – – – – -6562
*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), 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.
**As per RBI Notification No. 2020-21/01 dated July 01, 2020. Negative (-) sign indicates maturity proceeds received for RBI’s investment in the Special Liquidity Scheme.
& Negative (-) sign indicates repayments done by Banks.

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

Rupambara
Director   

Press Release: 2021-2022/145

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The results of the auctions of 3.96% Government Stock 2022 (Re-Issue), 5.85% Government Stock 2030 (Re-Issue), 6.76% Government Stock 2061 (Re-Issue) held on April 30, 2021 are:

Auction Results 3.96% GS 2022 * 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 128 353 171
(ii) Amount ₹ 29637.52 Crore ₹ 47191.35 Crore ₹ 25645 Crore
IV. Cut-off price / Yield 99.82 98.53 98.97
(YTM: 4.0832%) (YTM: 6.0537%) (YTM: 6.8346%)
V. Competitive Bids Accepted      
(i) Number 7 51 71
(ii) Amount ₹ 4275 Crore ₹ 16855 Crore ₹ 9680 Crore
VI. Partial Allotment Percentage of Competitive Bids 0.00% 0.00% 0.00%
(0 Bids) (0 Bids) (0 Bids)
VII. Weighted Average Price/Yield ₹ 99.8400 ₹ 98.7700 ₹ 99.2700
(WAY: 4.0694%) (WAY: 6.0201%) (WAY: 6.8125%)
VIII. Non-Competitive Bids Received      
(i) Number 2 4 5
(ii) Amount ₹ 0.017 Crore ₹ 10.184 Crore ₹ 15.006 Crore
IX. Non-Competitive Bids Accepted      
(i) Number 2 4 5
(ii) Amount ₹ 0.017 Crore ₹ 10.184 Crore ₹ 15.006 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 ₹ 7145 Crore
XI. Devolvement on Primary Dealers 0 0 0
* Green shoe amount of ₹1,275.017 crore has been accepted
** Green shoe amount of ₹2,865.184 crore has been accepted
*** Green shoe amount of ₹695.006 crore has been accepted

Rupambara
Director   

Press Release: 2021-2022/144

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The following State Governments have offered to sell securities by way of auction, for an aggregate amount of ₹14,900 Cr. (Face Value). The revision is due to the addition of Andhra Pradesh.

Sr. No. State/ UT Amount to be raised (₹ Cr) Additional Borrowing (Greenshoe) Option (₹ Cr) Tenure (Yrs) Type of Auction
1. Andhra Pradesh 1000 – 18 Yield
1000 – 19 Yield
2. Haryana 1000 – 15 Yield
1500 – Re-issue of 6.68% Haryana SDL 2039 issued on August 19, 2020 Price
3. Jammu and Kashmir 400 – 12 Yield
4. Maharashtra 2000 500 11 Yield
2000 500 12 Yield
5. Rajasthan 1500 – 10 Yield
6. Tamil Nadu 1500 – 10 Yield
1500 – Re-issue of 6.53% Tamil Nadu SDL 2031 issued on January 06, 2021 Price
7. Telangana 1500 – 30 Yield
  Total 14900      

The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 04, 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 04, 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 04, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on May 05, 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 05 and May 05 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.

Rupambara
Director   

Press Release: 2021-2022/143

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