IndusInd Bank’s ‘technical glitch’: RBI examining portfolio as part of an ongoing audit

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The Reserve Bank of India (RBI) is already examining issues around the technical glitch at IndusInd Bank’s subsidiary that led to 84,000 loans being disbursed without the customers’ consent. The lender will also undertake an external audit of the issue if required.

This was informed by IndusInd Bank’s Managing Director and CEO, Sumant Kathpalia, at an analyst call on November 6. He also denied allegations of evergreening of loans and stressed that there is strong risk management and a control framework in place – both within the bank and its microfinance subsidiary Bharat Financial Inclusion Ltd (BFIL).

“Yes, it is part of the annual review process which happens and it is already going on and they (RBI) are reviewing this portfolio,” Kathpalia said in response to a query on whether this issue would be a part of the risk-based supervision audit that is conducted by the RBI. “The whistleblower complaint was marked to the RBI also and the bank has kept the regulator abreast on its internal review process,” he further said.

Internal review

Meanwhile, responding to another query, Kathpalia said the bank will appoint an external auditor to validate the results of the internal review.

Also read: IndusInd Bank shares slump 11 per cent following loan evergreening issue

“We will have the review process completed. We will have a committee which will include external participants and an external auditor validating the results, and will have an independent process to give comfort to the investors that everything is right in BFIL. We will not be happy only with the internal audit,” he said.

In the call, Kathpalia also said the bank has a strong succession plan for BFIL in place in case its top management leaves. Non-executive Vice Chairman of BFIL, MR Rao, had stepped down in September but Kathpalia said he continues to work as an advisor with IndusInd Bank.

‘Unlisted company’

While analysts expressed surprise that this was not informed to the stock exchanges, Kathpalia maintained that BFIL is an unlisted company. “There was an agreement that he will retire in March 2021 and we had honoured that… he was also very upset on the 84,000 loans. We have taken action against certain persons,” he said.

Also read: Under fire, IndusInd Bank begins review of microfinance subsidiary

Trying to assuage concerns, he also said that the bank has been following a conservative provisioning approach.

“IndusInd Bank could have done better in terms of communicating about the management changes in BFIL and a technical glitch in the microfinance book, which led to allegations of evergreening in the MFI book (which otherwise has always been an area of suspicion). We believe that the bank’s turnaround story remains intact but it needs to work more on strengthening credit underwriting/risk management, and communication with the stakeholders to sustain the long-term rerating,” said Emkay Global Financial Services in a note on Monday.

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Karur Vysya Bank posts ₹165-cr net in Sept quarter, highest in last 17 quarters

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Old private sector lender Karur Vysya Bank has reported a 43.5 per cent rise in its net profit at ₹165 crore for the quarter ended September 30, 2021 when compared with ₹115 crore in the same period previous fiscal

“The net profit of ₹165 crore is the highest in the last 17 quarters,” B Ramesh Babu, Managing Director & CEO of KVB, told BusinessLine.

He said the KVB’s posted net profit on account of a well-crafted strategy amid some challenges. “With deeper focus, recoveries were higher than slippages during this September quarter. So interest reversals have come down, thereby improving our net interest margin at 3.75 per cent for the quarter,” he added.

Net interest income grew by 13 per cent at ₹680 crore (₹601 crore in the year-ago quarter). Fee based income for the September 2021 quarter (i.e. excluding treasury profit) was at ₹144 crore (₹119 crore). Treasury profit was lower at ₹16 crore (₹120 crore in the same period last year).

Operating expenses were higher at ₹470 crore (₹424 crore), while total expenses were lower at ₹1,187 crore as compared to ₹1,217 crore.

Operating profit of the bank increased to ₹374 crore from ₹360 crore in a year-ago period.

“Despite providing 1/3rd for family pension and lower treasury profit during the quarter, we could achieve this performance, ‘’ said Babu.

As on September 30, 2021, Gross NPA declined to 7.38 per cent as compared to 7.93 per cent a year ago, while net NPA was maintained at 2.99 per cent

“We were able to contain our restructuring portfolio to less than 3 per cent and NPA percentage has been coming down continuously. NPA was maintained without any write off and sale of any asset to ARC during the quarter,” he added.

Total deposits grew by 7 per cent at ₹65,410 crore as compared to ₹61,122 crore a year ago. Growth was aided through sustained improvement in CASA portfolio and retail term deposits.

Gross advances grew by 7 per cent at ₹53,850 crore (₹ 50,408 crore). Improved credit off take in the retail and business segment as well as jewel loan portfolio, backed by digital processing and improved sourcing of loans through various channels, aided the credit growth.

“The disbursement level in last one month has been much higher than the levels of last two years,” said Babu

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Amazon Pay (India) reduces net losses by 19% in FY21

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Amazon Pay (India) Private Limited, an online payment arm of Amazon India, has reduced its net losses by 19 per cent to ₹1,516 crore in FY21. Its revenues for the financial year was ₹1,769 crore, a 29 per cent jump from the last financial year.

According to financial data accessed by business intelligence platformTofler and reviewed by BusinessLine, the company’s total expenses for the fiscal were reported as ₹3,285 crore, a marginal increase from ₹3,234 at the same time last year.

Also see: Amazon Pay, MakeMyTrip partner to offer travel services

Interestingly, according to its financial results, one customer — codenamed as ‘customer A’ — contributed to 94.3 per cent of the entity’s revenue at ₹1,620 crore in FY21 compared to ₹1,197 crore from the same customer in FY20.

Net worth falls

The company — a competitor of Walmart-owned PhonePe, Alibaba-backed Paytm, and Google Pay — saw its net worth eroding to ₹1,683.3 crore in FY21 compared to ₹2,014.9 crore in FY20.

For the same fiscal, Google Payment reported revenues as ₹14.8 crore. The company further reported a net profit of ₹1.4 crore during the same fiscal, a 210 per cent increase from the last financial year.

Investment in NPCI

In FY21, Amazon Pay (India) had made an investment by way of acquisition of 61,320 equity shares of National Payments Corporation of India (NPCI) at a price of ₹1, 256 per share.

Also see: Do e-comm sites squeeze SME vendors?

According to a recent report, Amazon Pay UPI recently added 5 crore customers in India. Over 75 per cent of its customers come from Tier-2 and -3 cities.

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Junio ties up with RuPay for debit card for pre-teens, teenagers

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Children-focussed fintech, Junio, has launched a smart multipurpose card for pre-teens and teenagers on the RuPay platform.

The Junio RuPay Card is designed for kids and can function as a debit card for both their online and offline purchases, it said in a statement on Monday.

Kids and parents can sign up on the Junio app, and use virtual Junio smart cards with zero annual charges. In addition, children can enjoy up to seven per cent cashback and other reward benefits on Junio payments.

“The newly launched Junio Smart Card powered by RuPay will allow youngsters to make online and offline payments with ease. We are already seeing increased acceptance of the card across the merchant network given the robustness of the RuPay platform,” said Ankit Gera, Co-Founder, Junio.

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Reserve Bank of India – Press Releases

Press Releases

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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) 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, 07/11/2021 1 Mon, 08/11/2021 1,328.00 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 Sun, 07/11/2021 1 Mon, 08/11/2021 185.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£          
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -1,143.00  
II. Outstanding Operations
1. Fixed Rate          
    (i) Repo          
    (ii) Reverse Repo Sat, 06/11/2021 2 Mon, 08/11/2021 8,321.00 3.35
  Fri, 05/11/2021 3 Mon, 08/11/2021 35,361.00 3.35
  Thu, 04/11/2021 4 Mon, 08/11/2021 12,215.00 3.35
  Wed, 03/11/2021 5 Mon, 08/11/2021 160,485.00 3.35
    (iii) Special Reverse Repo~ Wed, 03/11/2021 15 Thu, 18/11/2021 1,158.00 3.75
    (iv) Special Reverse Repoψ Wed, 03/11/2021 15 Thu, 18/11/2021 291.00 3.75
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Wed, 03/11/2021 15 Thu, 18/11/2021 434,492.00 3.99
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo Tue, 02/11/2021 7 Tue, 09/11/2021 150,015.00 3.95
  Tue, 02/11/2021 28 Tue, 30/11/2021 50,007.00 3.97
3. MSF Sat, 06/11/2021 2 Mon, 08/11/2021 11,442.00 4.25
  Fri, 05/11/2021 3 Mon, 08/11/2021 1,475.00 4.25
  Thu, 04/11/2021 4 Mon, 08/11/2021 2,110.00 4.25
  Wed, 03/11/2021 5 Mon, 08/11/2021 244.00 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
  Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00
  Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00
  Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00
  Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00
  Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 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
Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00
Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00
Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00
D. Standing Liquidity Facility (SLF) Availed from RBI$       21,695.80  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -729,736.2  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -730,879.2  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 07/11/2021 614,227.28  
     (ii) Average daily cash reserve requirement for the fortnight ending 19/11/2021 634,320.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 03/11/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 22/10/2021 1,179,109.00  
@ 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, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 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 and Press Release No. 2021-2022/1023 dated October 11, 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: 2021-2022/1159

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Reserve Bank of India – Press Releases

Press Releases

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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) 21,795.15 3.91 2.60-4.35
     I. Call Money 2,037.55 3.37 2.60-4.00
     II. Triparty Repo 19,757.60 3.97 3.50-4.35
     III. Market Repo 0.00   –
     IV. Repo in Corporate Bond 0.00   –
B. Term Segment      
     I. Notice Money** 5.75 2.76 2.75-2.80
     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 Sat, 06/11/2021 2 Mon, 08/11/2021 8,321.00 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 Sat, 06/11/2021 2 Mon, 08/11/2021 11,442.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£          
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		      

3,121.00

  
II. Outstanding Operations
1. Fixed Rate          
    (i) Repo          
    (ii) Reverse Repo Fri, 05/11/2021 3 Mon, 08/11/2021 35,361.00 3.35
  Thu, 04/11/2021 4 Mon, 08/11/2021 12,215.00 3.35
  Wed, 03/11/2021 5 Mon, 08/11/2021 160,485.00 3.35
    (iii) Special Reverse Repo~ Wed, 03/11/2021 15 Thu, 18/11/2021 1,158.00 3.75
    (iv) Special Reverse Repoψ Wed, 03/11/2021 15 Thu, 18/11/2021 291.00 3.75
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Wed, 03/11/2021 15 Thu, 18/11/2021 434,492.00 3.99
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo Tue, 02/11/2021 7 Tue, 09/11/2021 150,015.00 3.95
  Tue, 02/11/2021 28 Tue, 30/11/2021 50,007.00 3.97
3. MSF Fri, 05/11/2021 3 Mon, 08/11/2021 1,475.00 4.25
  Thu, 04/11/2021 4 Mon, 08/11/2021 2,110.00 4.25
  Wed, 03/11/2021 5 Mon, 08/11/2021 244.00 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
  Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00
  Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00
  Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00
  Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00
  Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 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
Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00
Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00
Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00
D. Standing Liquidity Facility (SLF) Availed from RBI$       21,695.80  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -732,857.2  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -729,736.2  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 06/11/2021 614,901.00  
  05/11/2021 670,135.27  
  04/11/2021 701,454.49  
     (ii) Average daily cash reserve requirement for the fortnight ending 19/11/2021 634,320.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 03/11/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 22/10/2021 1,179,109.00  
@ 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, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 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 and Press Release No. 2021-2022/1023 dated October 11, 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: 2021-2022/1158

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PhonePe on-boards Liberty General Insurance to offer motor insurance

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Liberty General Insurance Ltd on Monday announced that it has partnered with PhonePe to offer motor insurance digitally and provide easy accessibility. In 2020, PhonePe ventured into the distribution of insurance and has become one of India’s fastest-growing digital distributors, with the sale of over 5 lakh policies in five months.

Roopam Asthana, CEO & Whole Time Director, Liberty General Insurance said, “With this partnership, Liberty General Insurance strengthens its tie-up with PhonePe to empower their customers with the best protection cover in today’s digital era. Liberty General Insurance has a comprehensive bouquet of insurance products that distinguishes itself from the existing gamut of motor insurance products in the market.

Gunjan Ghai, VP & Head of Insurance, PhonePe added, “We are delighted to partner with Liberty General Insurance to provide motor insurance products to our 32+ crore users. PhonePe users can choose from multiple motor insurance products on our platform and purchase seamlessly in a few clicks. We are committed to build PhonePe as a one-stop destination for all insurance needs and this partnership is another step in that direction.”

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Reserve Bank of India – Press Releases

Press Releases

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The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period October 04 – October 08, 2021.

All Figures are in USD Millions
Position Date MERCHANT INTER BANK
FCY / INR FCY / FCY FCY / INR FCY / FCY
Spot Forward Forward Cancel Spot Forward Forward Cancel Spot Swap Forward Spot Swap Forward
Purchase
04-10-21 2,886 1,312 962 302 98 38 10,555 11,444 358 4,639 1,405 65
05-10-21 4,249 1,665 1,074 242 123 97 12,456 11,086 767 3,950 1,290 492
06-10-21 3,343 2,523 1,102 180 77 36 13,505 16,668 846 4,932 2,034 158
07-10-21 2,915 1,365 653 184 49 15 9,919 13,421 1,509 3,812 2,092 196
08-10-21 3,499 2,164 1,158 242 123 58 12,399 9,979 1,357 4,325 1,684 84
Sales
04-10-21 3,008 1,845 1,089 300 98 38 10,363 12,077 231 4,638 1,379 65
05-10-21 3,322 2,062 544 242 127 97 12,397 12,173 1,176 3,973 1,264 492
06-10-21 4,309 2,220 387 181 77 36 12,814 12,516 1,082 4,945 1,988 158
07-10-21 2,702 1,444 397 184 48 15 9,680 11,676 1,645 3,726 2,067 198
08-10-21 3,551 2,193 827 246 123 58 11,822 10,794 1,597 4,321 1,620 84
(Provisional Data)

Ajit Prasad
Director   

Press Release: 2021-2022/1157

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Reserve Bank of India – Press Releases

Press Releases

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The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period September 27 – October 01, 2021.

All Figures are in USD Millions
Position Date MERCHANT INTER BANK
FCY / INR FCY / FCY FCY / INR FCY / FCY
Spot Forward Forward
Cancel 		Spot Forward Forward
Cancel 		Spot Swap Forward Spot Swap Forward
Purchase
27-09-21 4,732 1,296 1,257 284 550 408 10,689 11,311 742 4,722 2,350 361
28-09-21 5,673 4,264 3,066 303 411 361 14,473 13,170 2,163 5,833 4,339 757
29-09-21 5,211 2,340 1,418 379 339 236 12,317 13,944 479 5,195 3,605 374
30-09-21 6,442 2,836 1,921 323 286 366 17,951 25,253 702 5,915 3,189 316
01-10-21 4,779 1,216 1,234 214 110 108 11,935 14,665 466 5,509 1,558 111
Sales
27-09-21 5,128 2,209 816 287 530 409 10,224 9,671 822 4,717 2,333 361
28-09-21 4,586 3,944 2,557 305 410 360 13,459 14,263 3,335 5,804 4,294 756
29-09-21 4,613 3,048 1,264 371 335 236 11,788 14,965 885 5,189 3,600 374
30-09-21 4,690 3,851 2,347 323 276 372 18,186 18,525 920 5,886 3,063 315
01-10-21 3,559 3,225 578 232 112 108 11,356 13,432 693 5,421 1,491 110
(Provisional Data)

Ajit Prasad
Director   

Press Release: 2021-2022/1156

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Reserve Bank of India – Press Releases

Press Releases

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The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period September 20 – September 24, 2021.

All Figures are in USD Millions
Position Date MERCHANT INTER BANK
FCY / INR FCY / FCY FCY / INR FCY / FCY
Spot Forward Forward Cancel Spot Forward Forward Cancel Spot Swap Forward Spot Swap Forward
Purchase
20-09-21 5,691 1,654 925 312 163 115 11,002 15,271 832 5,299 1,677 1,846
21-09-21 3,889 996 447 275 124 64 8,854 13,247 543 4,198 1,476 160
22-09-21 4,008 2,013 1,884 272 105 95 15,232 13,748 1,020 3,477 1,589 98
23-09-21 4,222 1,485 921 277 237 252 12,912 9,066 1,192 5,660 1,812 236
24-09-21 5,527 1,541 1,281 421 287 203 9,933 12,042 1,098 3,813 1,681 170
Sales
20-09-21 4,037 2,060 832 317 152 119 10,999 12,070 1,368 5,278 1,564 1,846
21-09-21 3,414 1,626 461 284 129 64 8,949 9,846 623 4,215 1,491 160
22-09-21 5,282 2,729 592 272 104 95 14,661 12,751 1,138 3,458 1,524 98
23-09-21 4,048 2,433 738 275 241 252 12,107 8,639 1,933 5,586 1,829 223
24-09-21 3,756 2,106 964 422 254 204 10,349 11,876 1,606 3,820 1,685 170
(Provisional Data)

Ajit Prasad
Director   

Press Release: 2021-2022/1155

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