Press Releases

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period May 27 - May 31, 2024. 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 Purchases

In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following Non-Banking Financial Company (NBFC): Name of the NBFC Registered Office Address CoR No. CoR Issued On Name of the services provider/mobile app Star Finserv India Limited 8-2-268/K/35, Plot No. 35, Navodaya Colony, Road # 2 Banjara Hills, Hyderabad, Telangana B-09.00208 September 04, 2015 Progcap (owned and operated by Desiderata Impact Ventures Private Limited).

In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following Non-Banking Financial Company (NBFC): Name of the NBFC Registered Office Address CoR No. CoR Issued On Name of the services provider/mobile app Polytex India Ltd 5th Floor, 5B, Technopolis Knowledge Park, Mahakali Caves Road, Near Udyog Bhavan Chakala, Andheri (E), Mumbai, Maharashtra - 400093 13.00039 February 20, 1998 ‘Z2P’ mobile application (owned and operated by Zaitech Technologies Private Limited). As such, the above company shall not transact the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act, 1934.

The Reserve Bank of India today placed on its website an update on “Measuring Productivity at the Industry Level-The India KLEMS [Capital (K), Labour (L), Energy (E), Material (M) and Services (S)] Database” comprising the Data Manual 2024 and time-series data on productivity for 27 industries covering the period 1980-81 to 2022-23. The database, which has KLEMS data for an additional year, i.e., 2022-23, is expected to aid the analysis of productivity trends in India at disaggregated industry levels.

Tenor 4-day Notified Amount (in ₹ crore) 75,000 Total amount of offers received (in ₹ crore) 22,890 Amount accepted (in ₹ crore) 22,890 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ 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 - -

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 21,503.89 6.36 5.00-6.55 I. Call Money 963.50 6.13 5.50-6.24 II. Triparty Repo 17,811.15 6.36 5.90-6.55 III. Market Repo 2,729.24 6.43 5.00-6.50 IV. Repo in Corporate Bond 0.00 - -

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on July 08, 2024, Monday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 75,000 4 11:45 AM to 12:15 PM July 12, 2024 (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.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 12,928.40 6.35 4.50-6.65 I. Call Money 858.00 6.14 4.50-6.30 II. Triparty Repo 11,169.40 6.34 6.00-6.50 III. Market Repo 65.00 6.30 6.30-6.30 IV. Repo in Corporate Bond 836.00 6.61 6.60-6.65

The Reserve Bank of India (RBI), vide order dated July 05, 2024, has cancelled the licence of “Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District, Karnataka”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 05, 2024. The Registrar of Cooperative Societies, Karnataka has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.