Press Releases

This  Statement sets out various developmental and regulatory policy measures  relating to (i) Financial Markets ; (ii) Cybersecurity ; and (iii) Payment  Systems. I. Financial  Markets 1. Introduction of forward contracts in Government  securities 

Over the past few years, the Reserve Bank has been expanding the suite of interest rate derivative products available to market participants to manage their interest rate risks. In addition to Interest Rate Swaps, products such as Interest Rate Options, Interest Rate Futures, Interest Rate Swaptions, Forward Rate Agreements, etc. are available to market participants. We have been receiving feedback about the need to allow forward contracts in Government securities to enable further market development.  Such forward contracts will enable long-term investors such as  insurance funds to manage their interest rate risk across interest rate cycles.  They will also enable efficient pricing of derivatives that use bonds as underlying instruments. Draft directions in this regard were issued in December 2023. The final directions, taking into account the public feedback, will be issued shortly.

The Monetary Policy Committee (MPC) met on 5th, 6th and 7th of this month. You are aware that the Governor’s Statement after the MPC meeting contains not only the resolution of the MPC with regard to the policy rate and stance but also other announcements and measures, which have a bearing on the monetary and regulatory policies. The MPC resolution is of course of interest to a large number of people from various walks of life, as it impacts the lives of virtually all citizens of the country. The resolution also provides the rationale and the thought process of the MPC, and is of relevance to businesses, economists, academicians and the finance world. Apart from these MPC related announcements, the Governor’s statement has become an important medium for the Reserve Bank to highlight its priorities on which it would like the regulated entities to focus their energies on. It is an opportunity to point out areas of concern and challenges for the stakeholders to address their attention to. It is an occasion for the Reserve Bank to articulate its views on critical areas of interest. I will continue with this practice of a detailed statement.

The Monetary Policy Committee (MPC) held its 53rd meeting from February 5 to 7, 2025 under the chairmanship of Shri Sanjay Malhotra, Governor, Reserve Bank of India. The MPC members Dr. Nagesh Kumar, Shri Saugata Bhattacharya, Prof. Ram Singh, Dr. Rajiv Ranjan, and Shri M. Rajeshwar Rao attended the meeting. After assessing the current and evolving macroeconomic situation, the MPC unanimously decided to:

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 5,62,738.64 6.29 3.50-8.00 I. Call Money 14,447.56 6.45 5.15-6.60 II. Triparty Repo 3,61,611.60 6.25 6.10-6.35 III. Market Repo 1,84,089.88 6.33 3.50-6.60 IV. Repo in Corporate Bond 2,589.60 6.94 6.45-8.00

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period December 23 - December 27, 2024

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period December 16 - December 20, 2024

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period December 09 - December 13, 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 09-12-2024 5,112 836 485 551 377 339 13,974 21,689 1,483 5,986 2,267 148 10-12-2024 5,524 1,094 784 337 790 234 17,766 27,621 2,341 5,750 1,748 194

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period December 02 - December 06, 2024

As announced vide the Press Release 2024-2025/1933 dated January 15, 2025, the Reserve Bank will be conducting daily Variable Rate Repo (VRR) auctions on all working days in Mumbai with reversal taking place on the next working day, until further notice.

Reserve Bank of India (RBI) is satisfied to notify The Cuddalore and Villupuram District Central Co-operative Bank’s Employees Cooperative Bank Ltd., Cuddalore – 607001, Tamil Nadu as a non-banking institution under Section 36A(2) read with Section 56 of the Banking Regulation Act, 1949. Consequently, RBI has cancelled the licence dated March 21, 2000, granted to The Cuddalore and Villupuram District Central Co-operative Bank’s Employees Cooperative Bank Ltd., Cuddalore – 607001, Tamil Nadu to carry on banking business in India under Section 22 read with Section 56 of the Banking Regulation Act, 1949, with effect from the close of business on February 6, 2025. This makes it obligatory on the part of The Cuddalore and Villupuram District Central Co-operative Bank’s Employees Cooperative Bank Ltd., Cuddalore – 607001, Tamil Nadu to stop conducting the business of ‘banking’ within the meaning of section 5(b) read with Section 56 of the Act ibid, including acceptance of deposits from non-members with immediate effect. Further, The Cuddalore and Villupuram District Central Co-operative Bank’s Employees Cooperative Bank Ltd., Cuddalore – 607001, Tamil Nadu shall ensure to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as a non-banking institution.