Press Releases

The Reserve Bank of India today placed on its website a draft circular on Guidelines to facilitate faster cross-border inward payments. Comments / feedback on the draft Circular are invited from banks by November 19, 2025. The comments/ feedback may be submitted through the link under the ‘Connect2Regulate’ Section available on the Reserve Bank’s website. Comments may alternatively be forwarded to:

The rate of interest on Government of India Floating Rate Bond 2034 (GOI FRB 2034) applicable for the half year October 30, 2025 to April 29, 2026 shall be 6.54 per cent per annum. It may be recalled that FRB 2034 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield (WAY) of last three auctions (from the rate fixing day i.e., October 30, 2025) of 182 Day T-Bills, plus a fixed spread (0.98 per cent).

Today, the Reserve Bank released the provisional results of the 2024-25 round of the annual census on foreign liabilities and assets (FLA) covering cross-border liabilities and assets of the Indian entities {viz., companies, limited liability partnerships (LLPs), alternative investment funds (AIFs) and partnership firms} with inward/outward direct investment (DI). Out of the 45,702 entities which responded in the latest census, 41,517 reported foreign direct investment (FDI) and/or overseas direct investment (ODI) in their balance sheet for March 2025. Of these entities, 33,637 had also reported in the previous census round and 7,880 have newly reported in the current round. Over three-fourths of the companies that reported inward direct investment were subsidiaries of foreign companies (i.e., single foreign investor holding more than 50 per cent of total equity).

The Reserve Bank has today released data on Reserve Money for the week ended October 24, 2025.

(Amount in ₹ crore) Auction Results 91-Day 182-Day 364-Day I. Notified Amount 7,000 6,000 6,000 II. Competitive Bids Received

I. T-Bill 91-Day 182-Day 364-Day II. Total Face Value Notified ₹7,000 Crore ₹6,000 Crore ₹6,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.6575 (YTM:5.4580%) 97.2840 (YTM: 5.5990%) 94.7275 (YTM: 5.5813%) IV. Total Face Value Accepted ₹7,000 Crore ₹6,000 Crore ₹6,000 Crore

Reserve Bank of India had invited entries under the captioned scheme vide press release dated 05 June 2025. On evaluation of the entries received, it has been decided to award Dr. Keshav Prasad 'Saras', retired Associate Professor, Chandrashekhar Azad University of Agriculture and Technology, Kanpur under this scheme for his book “कृषि वित्त एवं सहकारिता’’.

Tenor 1-day Notified Amount (in ₹ crore) 1,50,000 Total amount of bids received (in ₹ crore) 58,512 Amount allotted (in ₹ crore) 58,512 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids 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) 6,70,181.10 5.45 4.85-6.60 I. Call Money 19,292.87 5.56 4.85-5.68 II. Triparty Repo 4,47,488.75 5.41 5.01-5.55 III. Market Repo 1,99,766.93 5.53 5.00-5.75 IV. Repo in Corporate Bond 3,632.55 5.73 5.65-6.60

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Wednesday, October 29, 2025, as under:

It may be recalled that in February 2004, the Reserve Bank initiated the practice of compiling half-yearly reports on the management of foreign exchange reserves and making them public to promote greater transparency and enhance disclosure in the management of the country’s foreign exchange reserves.

The result of the auction of State Government Securities held on October 28, 2025, is as under: (Amount in ₹ Crore) GOA SGS 2037 HARYANA SGS 2033 HARYANA SGS 2037 HARYANA SGS 2039 Notified Amount 100 1000 1000 1000 Tenor 12 -Years 8 -Years 12 -Years 14 -Years Competitive Bids Received (i) No. 17 51 67 68 (ii) Amount 670 5285 4995 3200 Cut-off Yield (%) 7.28 7.10 7.29 7.35 Cut off Price (₹) 100 100 100 100

Tenor 1-day Notified Amount (in ₹ crore) 1,50,000 Total amount of bids received (in ₹ crore) 1,25,521

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,62,548.17 5.52 4.85-6.60 I. Call Money 16,781.31 5.59 4.85-5.75 II. Triparty Repo 4,50,356.85 5.50 5.10-5.56 III. Market Repo 1,91,781.46 5.56 5.00-6.00 IV. Repo in Corporate Bond 3,628.55 5.76 5.60-6.60

The Reserve Bank of India (RBI) has, by an order dated October 22, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on The Tumkur District Co-operative Central Bank Limited, Karnataka (the bank) for contravention of provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). 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 the BR Act.

The Reserve Bank of India (RBI) has, by an order dated October 23, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Valparai Co-operative Urban Bank Ltd., Coimbatore, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC

The Reserve Bank of India (RBI) has, by an order dated October 23, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Shevapet Urban Co-operative Bank Limited, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI under ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. 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 the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated October 22, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Kamuthi Co-operative Urban Bank Ltd., Tamil Nadu (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 the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated October 22, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Arantangi Co-operative Town Bank Limited, Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Declaration of dividend by UCBs’. 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 the Banking Regulation Act, 1949.

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Tuesday, October 28, 2025, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,50,000 1 09:30 AM to 10:00 AM October 29, 2025 (Wednesday)

In terms of GOI notification F.No. 4(4)-B (W&M)/2020 dated April 13, 2020 (SGB 2020-21 Series-I-Issue date April 28, 2020) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the next due date of premature redemption of the above tranche shall be on October 28, 2025.

The 30th Meeting of the Standing Advisory Committee (SAC) to review the flow of credit to the Micro, Small and Medium Enterprises (MSME) sector was held in Coimbatore on October 27, 2025, under the chairmanship of Shri Swaminathan J, Deputy Governor, Reserve Bank of India. The meeting was attended by the Executive Directors from RBI, Additional Secretary from the Ministry of MSME and Joint Secretary from the Department of Financial Services, Ministry of Finance, Government of India; Chairman, SIDBI; Managing Directors of SBI and Punjab National Bank, senior management of major banks and NABARD; senior executives of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), National Credit Guarantee Trustee Company Limited (NCGTC), Khadi & Village Industries Commission (KVIC), Indian Banks’ Association (IBA), Finance Industry Development Council (FIDC), and representatives from MSME associations. The last two meetings of SAC were held in Lucknow and Ahmedabad.

The Reserve Bank had announced the receipt of application from VFS Capital Limited under the Guidelines for ‘on tap’ Licensing of Small Finance Banks in the press release on January 01, 2025. It is now communicated that VFS Capital Limited has withdrawn its application.

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 October 27, 2025 October 31, 2025 (Friday) November 03, 2025 (Monday) 2 6.28% GS 2032 Jul 14, 2032 11,000 3 7.24% GS 2055 Aug 18, 2055 7,000

Tenor 1-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 1,788 Amount allotted (in ₹ crore) 1,788 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) NA

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 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 - -

(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 I. Notice Money** 0.00 - -

On a review of current and evolving liquidity conditions, it has been decided to conduct a second Variable Rate Repo (VRR) auction on Monday, October 27, 2025, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 1 11:00 AM to 11:30 AM October 28, 2025 (Tuesday)

Tenor 1-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 1,45,253 Amount allotted (in ₹ crore) 1,00,022 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) 62.87

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,58,514.11 5.52 4.85-6.50 I. Call Money 18,730.15 5.58 4.85-6.00 II. Triparty Repo 4,29,330.50 5.52 5.35-5.85 III. Market Repo 2,06,905.91 5.50 5.00-6.00 IV. Repo in Corporate Bond 3,547.55 5.64 5.54-6.50 B. Term Segment I. Notice Money** 256.40 5.38 4.95-5.45 II. Term Money@@ 930.00 - 5.40-6.05

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Monday, October 27, 2025, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,00,000 1 09:30 AM to 10:00 AM October 28, 2025 (Tuesday)

In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated October 01, 2025, the Reserve Bank of India (RBI) has today issued the following draft Directions for public comments:

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹17,800 Crore (Face Value). Sr. No. State/UT Amount to be raised (₹ Crore) Tenor (Year) Type of Auction 1. Goa 100 12 Yield 2. Haryana 1000 08 Yield 1000 12 Yield 1000 14 Yield 1000 16 Yield 3. Himachal Pradesh 200 06 Yield 4. Jammu and Kashmir 300 17 Yield

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 October 29, 2025 (Wednesday) October 30, 2025 (Thursday) 2 182-Day 6,000 3 364-Day 6,000 Total 19,000

In terms of para 7(b) of the captioned Directions dated July 29, 2025, it has been stipulated that the Reserve Bank may, in consultation with the Government of India, by a notification, exempt certain Alternative Investment Funds (AIFs) from the scope of the above Directions (except for paragraph 5 – “General Requirement”), and the previous circulars dated December 19, 2023 and March 27, 2024 issued on the matter.

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2024 2025 Variation Oct. 18 Oct. 10 Oct. 17 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government - 0 0 0 0 4.2 State Governments 23398 16116 30095 13979 6697 * Data are provisional; difference, if any, is due to rounding off.

Tenor 3-day Notified Amount (in ₹ crore) 1,25,000 Total amount of bids received (in ₹ crore) 30,750 Amount allotted (in ₹ crore) 30,750 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids 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) 6,48,081.04 5.33 4.00-6.45 I. Call Money 14,926.60 5.46 4.40-5.60 II. Triparty Repo 4,16,177.00 5.27 4.75-5.45 III. Market Repo 2,13,994.89 5.44 4.00-6.00 IV. Repo in Corporate Bond 2,982.55 5.67 5.55-6.45 B. Term Segment I. Notice Money** 46.20 5.18 5.00-5.25

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, to Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow vide Directive DOS.CO.OCCD.185569/12.28.007/2021-22 dated January 28, 2022 for a period of six months upto July 27, 2022, as modified from time to time, which were last extended upto October 27, 2025 vide Directive DOR.MON.No.D-22/12.28.007/2025-26 dated July 17, 2025. The Reserve Bank of India is satisfied that in public interest, it is necessary to further extend the period of operation of the Directive beyond October 27, 2025.

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Friday, October 24, 2025, as under:

Reserve Bank is organising its fourth global hackathon – ‘HaRBInger 2025 – Innovation for Transformation’. The participants are invited to develop solutions using technology and innovative approaches under the following theme and problem statements:

The Reserve Bank of India (RBI) has, by an order dated October 3, 2025, imposed a monetary penalty of ₹5 lakh (Rupees Five Lakh only) on Rampur Jilla Sahkari Bank Ltd., Uttar Pradesh (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). 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 the BR Act.

The Reserve Bank of India today placed on its website a Draft circular on Unique Transaction Identifier for OTC Derivative Transactions in India.Comments on the draft Circular are invited from banks, market participants and other interested parties by November 14, 2025.

(Amount in ₹ crore) Auction Results 91-Day 182-Day 364-Day I. Notified Amount 7,000    6,000    6,000 II. Competitive Bids Received (i)  Number 76    63    77 (ii) Amount 20,721.00    22,022.50    21,410.00

The Reserve Bank has today published the half-yearly Payment System Report, June 2025. This report, in addition to analysing the trends in payment transactions carried out using various payment systems in India during the last six calendar years up to the first half of calendar year 2025, covers important developments in the payment ecosystem and an in-depth analysis of the Real Time Gross Settlement (RTGS) system.

I. T-Bill 91-Day 182-Day 364-Day II. Total Face Value Notified ₹7,000 Crore ₹6,000 Crore ₹6,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.6572 (YTM:5.4593%) 97.2900 (YTM: 5.5863%) 94.7295 (YTM: 5.5790%) IV. Total Face Value Accepted ₹7,000 Crore ₹6,000 Crore ₹6,000 Crore

The Reserve Bank has today released data on Reserve Money for the week ended October 17, 2025.

(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 I. Notice Money** 0.00 - - II. Term Money@@ 0.00 - - III. Triparty Repo 0.00 - - IV. Market Repo 0.00 - -

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 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 - -