Today, the Reserve Bank released the November 2025 issue of its monthly Bulletin. The Bulletin includes six speeches, five articles and current statistics. The five articles are: I. State of the Economy; II. ‘Making the Horizons Meet’: A Heterodox Approach for Short-Term Inflation Forecasting; III. Multivariate Core Trend Inflation: A New Measure of Core Inflation; IV. Nowcasting GDP in India: A New Approach; and V. Seasonality in Key Economic Indicators of India.

Today, the Reserve Bank released the data on performance of the private corporate business sector during the second quarter of 2025-26, drawn from abridged quarterly financial results of 3,118 listed non-government non-financial companies. This summary position also includes comparable data for Q1:2025-26 and Q2:2024-25 to enable study of sequential (q-o-q) and annual (y-o-y) change

Government of India (GoI) has announced the sale (re-issue) of four dated securities for a notified amount of ₹32,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 5.91% GS 2028 Jun 30, 2028 9,000 F.No.4(1)-B(W&M)/2025 dated November 24, 2025 November 28, 2025 (Friday) December 01, 2025 (Monday) 2 6.28% GS 2032 Jul 14, 2032 11,000 3 7.24% GS 2055 Aug 18, 2055 7,000 4 6.98% GOI SGrB 2054 Dec 16, 2054 5,000 Total 32,000

The Reserve Bank of India (RBI) has, by an order dated November 20, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on Tumkur Grain Merchants Co-operative Bank Limited, Karnataka (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’. This penalty has been imposed in exercise of powers conferr

The Reserve Bank of India (RBI) has, by an order dated November 20, 2025, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on The District Co-operative Central Bank Limited, Kurnool, Andhra Pradesh (the bank) for contravention of provisions of Sections 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and

The Reserve Bank of India (RBI) has, by an order dated November 20, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on The District Co-operative Central Bank Limited

The Reserve Bank of India (RBI) has, by an order dated November 20, 2025, imposed a monetary penalty of ₹2 lakh (Rupees Two Lakh only) on The Fatehpur District Co-operative Bank Limited, Uttar Pradesh (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of BR Act.

(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 - -

(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 - - B. Term Segment

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,52,118.24 5.39 4.75-6.50 I. Call Money 18,354.70 5.52 4.75-5.60 II. Triparty Repo 4,29,310.50 5.35 5.05-5.47 III. Market Repo 2,01,107.54 5.46 5.00-5.60 IV. Repo in Corporate Bond 3,345.50 5.57 5.45-6.50 B. Term Segment I. Notice Money** 249.40 5.44 4.85-5.60

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹26,550 Crore (Face Value) Sr. No. State/UT Amount to be raised (₹ Crore) Tenor (Year) Type of Auction 1. Bihar 1500 20 Yield 2. Chhattisgarh 1000 10 Yield 1000 Re-issue of 7.34% Chhattisgarh SGS 2040, issued on October 23, 2025 Price

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to National Mercantile Co-operative Bank Ltd., Lucknow vide Directive No. LKO.DOS.SED.No.S875/10-03-759/2022-23 dated March 09, 2023, for a period of six months. The same were modified from time to time and were last extended up to close of business on December 10, 2025.

Reserve Bank of India has been actively pursuing interlinking of Unified Payments Interface (UPI) with fast payment systems of other jurisdictions to promote cross-border payments. These initiatives are aligned with the G20 Roadmap for enhancing cross-border payments, with a focus on cheaper, efficient, more transparent and more accessible remittances.

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No. Treasury Bill Notified Amount (₹ crore) Auction Date Settlement Date 1 91-Day 7,000 November 26, 2025 (Wednesday) November 27, 2025 (Thursday)

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2024 2025 Variation Nov. 15 Nov. 07 Nov. 14 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 11817 0 0 0 -11817 4.2 State Governments 28634 36937 31808 -5129 3174 * Data are provisional; difference, if any, is due to rounding off.

(Amount in ₹ Crore) Auction Results 6.01% GS 2030 7.09% GS 2074 I. Notified Amount 18,000 12,000 II. Competitive Bids Received

6.01% GS 2030 7.09% GS 2074 I. Notified Amount ₹18,000 crore ₹12,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 99.16 / 6.2180% 96.07 / 7.3889%

Tenor 7-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 16,363 Amount allotted (in ₹ crore) 16,363 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) NA

In the underwriting auction conducted on November 21, 2025, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below: Nomenclature of the Security Notified Amount (₹crore) Minimum Underwriting Commitment (MUC) Amount (₹crore) Additional Competitive Underwriting Amount Accepted (₹crore) Total Amount underwritten (₹crore) ACU Commission Cut-off rate (Paise per ₹100) 6.01% GS 2030 18,000 9,009 8,991 18,000 0.24 7.09% GS 2074 12,000 6,006 5,994 12,000 1.05

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,48,360.51 5.30 4.25-6.35 I. Call Money 17,968.42 5.41 4.75-5.50 II. Triparty Repo 4,18,721.15 5.27 5.00-5.33 III. Market Repo 2,08,693.44 5.36 4.25-5.65 IV. Repo in Corporate Bond 2,977.50 5.43 5.35-6.35 B. Term Segment I. Notice Money** 326.50 5.42 5.00-5.50