Press Releases

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auctions to be held on May 24, 2024. As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹4,000 Crore ₹4,000 Crore ₹4,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.3200 (YTM: 6.8536%) 96.6208 (YTM: 7.0140%) 93.4557 (YTM: 7.0218%) IV. Total Face Value Accepted ₹4,000 Crore ₹4,000 Crore ₹4,000 Crore

Tenor 2-day Notified Amount (in ₹ crore) 75,000 Total amount of bids received (in ₹ crore) 71,830 Amount allotted (in ₹ crore) 71,830 Cut off Rate (%) 6.51 Weighted Average Rate (%) 6.63 Partial Allotment Percentage of bids received at cut off rate (%) NA

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on May 22, 2024, Wednesday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 75,000 2 11:30 AM to 12:00 Noon May 24, 2024 (Friday) 2. The operational guidelines for the auction will be same as given in Reserve Bank’s Press Release 2021-2022/1572 dated January 20, 2022.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 528,731.85 6.72 4.50-7.50 I. Call Money 13,262.43 6.76 5.10-6.85 II. Triparty Repo 351,544.90 6.72 6.50-6.80 III. Market Repo 162,818.52 6.72 4.50-7.00 IV. Repo in Corporate Bond 1,106.00 6.94 6.90-7.50 B. Term Segment I. Notice Money** 200.75 6.57 5.85-6.80 II. Term Money@@ 813.00 - 6.70-7.10

Today, the Reserve Bank released the May 2024 issue of its monthly Bulletin. The Bulletin includes three speeches, four articles, and current statistics. The four articles are: I. State of the Economy; II. Decentralised Finance: Implications for Financial System; III. Currency Swaps of the Reserve Bank of India: Role in the GFSN and Fostering International Financial Cooperation; IV. Consumer Confidence in India: A Regional Perspective.

The Reserve Bank of India (RBI) has, by an order dated May 14, 2024, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Noida Commercial Co-operative Bank Ltd., Ghaziabad, Uttar Pradesh (the bank) for contravention of the provisions of section 26 A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act) and for non-compliance with the directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms/ concerns in which they are interested’ and ‘Master Circular on Frauds- Classification and Reporting’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated May 14, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh Only) on The Bhadohi Urban Co-operative Bank Ltd., Bhadohi, Uttar Pradesh (the bank) for contravention of the provisions of section 26 A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46 (4)(i) and 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated May 14, 2024, imposed a monetary penalty of ₹7.00 lakh (Rupees Seven lakh only) on The Urban Co-operative Bank Ltd., Budaun (the bank) for contravention of the provisions of section 26 A (2) read with section 56 of the Banking Regulation Act, 1949 (BR Act), for non-compliance with the specific directions issued by RBI under Supervisory Action Framework (SAF) and with the direction issued by RBI on ‘Investments by Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act.

Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹22,000 crore (face value). The security-wise details of the conversion/switch are given as under: Date of Auction Source Securities Amount (FV) of Source Securities (In ₹ crore) Destination Securities May 27, 2024 (Monday) 8.20% GS 2025 (Maturing on Sep 24, 2025) 1,000 8.17% GS 2044 (Maturing on Dec 01, 2044) 8.20% GS 2025 (Maturing on Sep 24, 2025) 5,000 7.50% GS 2034 (Maturing on Aug 10, 2034) 7.59% GS 2026 (Maturing on Jan 11, 2026) 2,500 6.68% GS 2031 (Maturing on Sep 17, 2031) 7.27% GS 2026 (Maturing on Apr 08, 2026) 2,000 8.24% GS 2033 (Maturing on Nov 10, 2033) 6.99% GS 2026 (Maturing on Apr 17, 2026) 1,000 6.95% GS 2061 (Maturing on Dec 16, 2061) 8.24% GS 2027 (Maturing on Feb 15, 2027) 1,000 6.95% GS 2061 (Maturing on Dec 16, 2061) 7.38% GS 2027 (Maturing on Jun 20, 2027) 2,000 7.40% GS 2035 (Maturing on Sep 09, 2035) 7.38% GS 2027 (Maturing on Jun 20, 2027) 3,000 6.83% GS 2039 (Maturing on Jan 19, 2039) 7.38% GS 2027 (Maturing on Jun 20, 2027) 2,000 6.95% GS 2061 (Maturing on Dec 16, 2061) 8.26% GS 2027 (Maturing on Aug 02, 2027) 1,500 6.67% GS 2035 (Maturing on Dec 15, 2035) 8.26% GS 2027 (Maturing on Aug 02, 2027) 1,000 7.69% GS 2043 (Maturing on Jun 17, 2043) Total 22,000