Press Releases

Today, the Reserve Bank released the results1 of fourteenth round of its biennial survey on foreign collaboration in Indian industry (FCS) covering the financial years 2021-22 and 2022-23. This survey captures information on financial parameters and operations of the Indian companies having technical collaboration with foreign companies during the reference period, as per the attached schedule.

The Reserve Bank of India (RBI) has, by an order dated October 04, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Pij People’s Co-operative Bank Limited, Pij, Dist. Kheda, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

Government of India (GOI) has announced the sale (Issue/re-issue) of three dated securities for a notified amount of ₹30,000 crore as per the following details:

Sr No    Security    Date of Repayment    Notified Amount
(₹ crore)    GoI specific Notification    Auction Date    Settlement Date
1    7.37% GS 2028    Oct 23, 2028    7,000    F.No.4(3)-B(W&M)/2023 dated
October 30, 2023    November 03, 2023
(Friday)    November 06, 2023
(Monday)
2    7.18% GS 2033    Aug 14, 2033    13,000
3    New GS 2073    Nov 06, 2073    10,000

Total    
30,000    

The Reserve Bank of India (RBI) has, by an order dated October 05, 2023, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Mizoram Co-operative Apex Bank Ltd., Aizawl (the bank) for non-compliance with the directions issued by RBI on ‘Housing Finance’ applicable to State Co-operative Banks. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2022, and examination of the Inspection Report and all correspondence related thereto revealed, inter alia, that the bank’s total exposure to housing finance was above the prescribed limit. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with the said directions, as stated therein.

After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1202

The Reserve Bank of India (RBI) has, by an order dated October 04, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Shihori Nagarik Sahakari Bank Ltd., Shihori, Dist. Banaskantha, Gujarat (the bank) for non-compliance with directions issued by RBI on ‘Loans and advances to directors, relatives and firms/concerns in which they are interested’ read with ‘Loans and advances to Directors etc. - Directors as surety/guarantors – Clarification’ and ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (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 04, 2023, imposed a monetary penalty of ₹7.00 lakh (Rupees Seven lakh only) on Uma Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for contravention of directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (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 September 19, 2023, imposed a monetary penalty of ₹1.10 lakh (Rupees One lakh Ten thousand only) on Birbhum District Central Co-operative Bank Ltd., Birbhum, West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ and ‘Membership of Credit Information Companies (CICs)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 and Section 25 (1) (iii) read with section 23 (4) of the Credit Information Companies (Regulation) Act, 2005.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The statutory inspection of the bank conducted by National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2022, and examination of the Inspection Report and all correspondence related thereto revealed, inter alia, that the bank had (i) failed to carry out periodic review of risk categorisation of accounts, (ii) failed to undertake risk categorisation of a number of accounts; and (iii) failed to obtain membership of three out of the four CICs. Consequently, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions, as stated therein.

After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty on the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1201

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 500,614.35 6. 5.00-7.80 I.Call Money 10,607.39 6. 5.00-6.95 II. Triparty Repo 339,910.40 6. 6.00-6.80

(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    -    -
     V. Repo in Corporate Bond    0.00    -    -
RBI OPERATIONS@

Auction Date    Tenor (Days)    Maturity Date    Amount    Current Rate /
Cut off Rate
C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)

In terms of GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series V - Issue date October 30, 2017) 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 October 30, 2023.

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No.Treasury BillNotified Amount (in ₹ Crore)Auction Date Settlement Date

191 Days7,000November 01, 2023
(Wednesday)November 02, 2023
(Thursday)

2182 Days8,000

3364 Days9,000

  Total24,000

The rate of interest on Government of India Floating Rate Bond 2034 (GOI FRB 2034) applicable for the half year October 30, 2023 to April 29, 2024 shall be 8.10 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, 2023) of 182 Day T-Bills, plus a fixed spread (0.98 per cent).

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/1193

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2022 2023 Variation Oct. 21 Oct. 13   Oct. 20 Week Year 1 2 3 4 5
4 Loans and Advances    

4.1 Central Government    0    0    0    0    0
4.2 State Governments    5092    20364    20227    -137    15135
* Data are provisional.

The 604th meeting of the Central Board of Directors of Reserve Bank of India was held today in Rishikesh under the Chairmanship of Shri Shaktikanta Das, Governor.

Auction Results New GS 2026 7.18% GS 2037 7.25% GS 2063 I. Notified Amount    ₹8000 Crore    ₹10000 Crore    ₹12000 Crore II. Underwriting Notified Amount    ₹8000 Crore    ₹10000 Crore    ₹12000 Crore III.    Competitive Bids Received    (i) Number    115    199    233 (ii) Amount    ₹22660 Crore    ₹26505.300 Crore    ₹39857.403 Crore IV.    Cut-off price / Yield    -    97.62    96.38 (YTM: 7.3300%)    (YTM: 7.4580%)    (YTM: 7.5373%) V. Competitive Bids Accepted    

(i) Number    30    61    43
(ii) Amount    ₹7993.553 Crore    ₹9989.014 Crore    ₹11988.540 Crore
VI.    Partial Allotment Percentage of Competitive Bids    83.68%    38.62%    93.10%
(17 Bids)    (8 Bids)    (6 Bids)
VII.    Weighted Average Price/Yield    100.00    97.62    96.45
(WAY: 7.3300%)    (WAY: 7.4580%)    (WAY: 7.5315%)
VIII.    Non-Competitive Bids Received    

(i) Number    4    4    5
(ii) Amount    ₹6.447 Crore    ₹10.986 Crore    ₹11.46 Crore
IX.    Non-Competitive Bids Accepted    

(i) Number    4    4    5
(ii) Amount    ₹6.447 Crore    ₹10.986 Crore    ₹11.46 Crore
(iii) Partial Allotment Percentage    -    -    -
X.    Amount of Underwriting accepted from primary dealers    ₹8000 Crore    ₹10000 Crore    ₹12000 Crore
XI.    Devolvement on Primary Dealers    NIL    NIL    NIL

In the Third Cohort under the Regulatory Sandbox (RS) with ‘MSME Lending’ as its theme, eight entities were to commence testing of their products which was communicated vide Press Release dated June 06, 2022.
2. Products of the entities which completed the ‘Test Phase’ were evaluated based on mutually agreed test scenarios and expected outcomes. Accordingly, the five products outlined below have been found viable within the boundary conditions defined during testing under RS:

The Reserve Bank of India had announced vide Press Release dated September 5, 2022 that the Fifth Cohort under the Regulatory Sandbox (RS) will be theme neutral. It now announces opening of application window for the Fifth Cohort to eligible entities.

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range
A. Overnight Segment (I+II+III+IV) 533,522.49 6.76 5.00-7.80 I. Call Money 12,773.39 6.77 5.00-6.85 II. Triparty Repo 374,186.90 6.76 6.48-6.90 III. Market Repo 145,869.20 6.77    6.25-6.90
     IV. Repo in Corporate Bond    693.00    7.01    6.85-7.80
B. Term Segment    

     I. Notice Money**    234.40    6.70    5.80-6.82
     II. Term Money@@    537.50    -    6.55-7.00
     III. Triparty Repo    44.00    6.74    6.60-6.75
     IV. Market Repo    572.63    7.00    6.90-7.05

The Reserve Bank of India issued Directions to The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No.CO.DOS.SED.No.S2698/12-07-005/2022-2023 dated July 27, 2022, for a period of six months up to the close of business on January 28, 2023, as modified from time to time, which was last extended up to the close of business on October 28, 2023 vide Directive DOR.MON.D-44/12.22.603/2023-24 dated July 21, 2023.

New GS 2026 7.18% GS 2037 7.25% GS 2063 I. Notified Amount ₹8,000 crore ₹10,000 crore ₹12,000 crore II. Cut off Price / Implicit Yield at cut-off 7.33% 97.62/7.4580% 96.38/7.5373% III. Amount accepted in the auction ₹8,000 crore ₹10,000 crore ₹12,000 crore
IV.    Devolvement on Primary Dealers    NIL    NIL    NIL
Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/1186

The Reserve Bank of India issued Directions to Jaiprakash Narayan Nagari Sahakari Bank Ltd., Basmatnagar under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.SED.No.S2723/12-07-005/2022-2023 dated July 28, 2022, for a period of six months up to January 29, 2023, as modified from time to time, which were last extended up to October 29, 2023 vide Directive DOR.MON.D-50/12.22.663/2023-24 dated July 28, 2023.

The Reserve Bank of India issued Directions to The Karmala Urban Co-operative Bank Limited, Solapur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.SED.No.S2729/12-07-005/2022-2023 dated July 29, 2022, for a period of six months up to the close of business on  January 29, 2023, as modified from time to time which were extended up to the close of business on October 29, 2023 vide Directive DOR.MON.No.D-51/12.22.130/2023-24 dated July 28, 2023.

It is hereby informed that the Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Durga Co-operative Urban Bank Ltd., Vijayawada vide Directive No. HYD.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022 for a period of six months upto January 29, 2023 as modified from time to time, which were last extended up to October 29, 2023 vide Directive No. DOR.MON/D-46/12.24.020/2023-24 dated July 25, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of Directive beyond October 29, 2023.

In the underwriting auctions conducted on October 27, 2023 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:

The Reserve Bank of India, vide Directive DOS.CO.OCCD/185569/12.28.007/2021-22 dated January 28, 2022 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P) under Directions from the close of business on January 28, 2022. The validity of these Directions was extended time-to-time, last being up to October 27, 2023.

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹25,400 Crore (Face Value).

Sr. No.State / UTAmount to be raised
(₹ Cr)Additional Borrowing (Greenshoe) Option
(₹ Cr)Tenure (Year)Type of Auction

1Andhra Pradesh500-13Yield

500-14Yield

500-18Yield

500-20Yield

2Bihar2000-8Yield

3Chhattisgarh1000-8Yield

4Goa100-10Yield

5Haryana1000-12Yield

6Jammu and Kashmir600-30Yield

The Reserve Bank of India, vide Directive LKO.DOS.SED.No.S257/10-12-414/2022-23 dated July 27, 2022, had placed the Urban Co-operative Bank Ltd., Sitapur(U.P) under Directions from the close of business on July 28, 2022. The validity of the Directions was extended from time-to-time, the last being up to October 28, 2023.

The Reserve Bank of India has today placed on its website the draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services. Comments / Feedback, if any, may be sent by email with the subject line “Comments on draft Master Direction on Managing Risks and Code of Conduct in Outsourcing of Financial Services”, by November 28, 2023.

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auctions to be held on October 27, 2023.

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:

(₹ crore)
Security    Notified Amount    Minimum Underwriting Commitment (MUC) amount per PD    Minimum bidding commitment per PD under ACU auction
New GS 2026    8,000    191    191
7.18% GS 2037    10,000    239    239
7.25% GS 2063    12,000    286    286

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average RateRange A. Overnight Segment (I+II+III+IV)517,624.336.765.00-7.85 I. Call Money11,106.286.755.50-6.85 II. Triparty Repo356,928.106.765.00-6.80 III. Market Repo149,449.956.766.25-6.90

     IV. Repo in Corporate Bond140.007.346.90-7.85

B. Term Segment

 

     I. Notice Money**443.756.756.00-6.90

     II. Term Money@@840.00-6.55-7.00

     III. Triparty Repo1,379.606.756.73-6.77

     IV. Market Repo359.817.057.05-7.05

     V. Repo in Corporate Bond0.00--

Today, Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India (RBI), inaugurated the Reserve Bank’s own premises at Dehradun, Uttarakhand.

The Dehradun office is headed by Smt. Latha Vishwanath, Regional Director and Chief General Manager, and will start functioning from the following address with effect from October 25, 2023:

Reserve Bank of India
Plot No. 16-17, IT Park
Sahastradhara Road
Dehradun
Uttarakhand-248013
Telephone No: (0135) 2742455
Please click here to send email.

The Reserve Bank of India’s office at Dehradun was established as a Sub-Office on June 30, 2006 and was upgraded to a full-fledged branch from November 1, 2012.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/1175

The Reserve Bank has today released data on Reserve Money for the week ended October 13, 2023. Ajit Prasad            
Director (Communications) Press Release: 2023-2024/1174

The Reserve Bank of India (RBI) has, by an order dated September 21, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh Fifty thousand only) on The Ghatal Peoples Co-operative Bank Limited, West Bengal (the bank) for non-compliance with directions issued by RBI on ‘Membership of Credit Information Companies (CICs)’, ‘Exposure Norms and Statutory/Other Restrictions - UCBs’, ‘Reserve Bank of India – (Know Your Customer (KYC)) Directions, 2016’ and for contravention of the provisions of section 26-A of the Banking Regulation Act, 1949 (BR Act) read with directions issued by RBI on ‘The Depositor Education and Awareness Fund Scheme, 2014 –Section 26A of Banking Regulation Act, 1949 - Operational Guidelines’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the BR Act and Section 25 (1) (iii) read with Section 23 (4) of the Credit Information Companies (Regulation) Act, 2005.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

The Reserve Bank of India (RBI) has, by an order dated September 19, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on District Central Co-operative Bank Limited, Supaul (the bank) for non-compliance with RBI directions on ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume
(One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV)505,163.176.765.50-7.80 I. Call Money6,530.966.735.50-6.85 II. Triparty Repo340,544.906.766.75-6.80 III. Market Repo157,987.316.766.25-6.85

     IV. Repo in Corporate Bond100.007.586.90-7.80

B. Term Segment

 

     I. Notice Money**70.006.446.35-6.50

     II. Term Money@@547.00-6.50-6.95

     III. Triparty Repo55.006.756.75-6.75

     IV. Market Repo0.00--

     V. Repo in Corporate Bond0.00--

RBI OPERATIONS@

Auction DateTenor (Days)Maturity DateAmountCurrent Rate /
Cut off Rate

C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)

I. Today's Operations

1. Fixed Rate



 

2. Variable Rate&



 

  (I) Main Operation



 

     (a) Repo



 

     (b) Reverse Repo



 

  (II) Fine Tuning Operations



 

     (a) Repo



 

     (b) Reverse Repo



 

3. MSFMon, 23/10/20232Wed, 25/10/2023138,595.006.75

Auction Results91 Days182 Days364 Days I.Notified Amount₹7000 Crore₹8000 Crore₹9000 Crore II.Competitive Bids Received (i) Number109169156 (ii) Amount₹20770.552 Crore₹31070.500 Crore₹21703.750 Crore III.Cut-off price / Yield98.300496.563493.3355

(YTM: 6.9349%)(YTM: 7.1374%)(YTM: 7.1600%)

IV.Competitive Bids Accepted

 

(i) Number452275

(ii) Amount₹6979.511 Crore₹7965.101 Crore₹8987.682 Crore

V.Partial Allotment Percentage of Competitive Bids34.84%29.46%15.63%

(5 Bids)(2 Bids)(2 Bids)

VI.Weighted Average Price/Yield98.303696.567693.3468

(WAY: 6.9217%)(WAY: 7.1283%)(WAY: 7.1470%)

VII.Non-Competitive Bids Received

 

(i) Number543

(ii) Amount₹20.489 Crore₹34.899 Crore₹686.538 Crore

VIII.Non-Competitive Bids Accepted

 

(i) Number543

(ii) Amount₹20.489 Crore₹34.899 Crore₹686.538 Crore

(iii) Partial Allotment Percentage---

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg)Weighted Average RateRange A. Overnight Segment (I+II+III+IV)505,163.176.765.50-7.80 I. Call Money6,530.966.735.50-6.85 II. Triparty Repo340,544.906.766.75-6.80 III. Market Repo157,987.316.766.25-6.85

     IV. Repo in Corporate Bond100.007.586.90-7.80

B. Term Segment

 

     I. Notice Money**70.006.446.35-6.50

     II. Term Money@@547.00-6.50-6.95

     III. Triparty Repo55.006.756.75-6.75

     IV. Market Repo0.00--

     V. Repo in Corporate Bond0.00--

RBI OPERATIONS@

Auction DateTenor (Days)Maturity DateAmountCurrent Rate /
Cut off Rate

C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)

I. Today's Operations

1. Fixed Rate



 

2. Variable Rate&



 

  (I) Main Operation



 

     (a) Repo



 

     (b) Reverse Repo



 

  (II) Fine Tuning Operations



 

     (a) Repo



 

     (b) Reverse Repo



 

3. MSFMon, 23/10/20232Wed, 25/10/2023138,595.006.75

The Reserve Bank of India (RBI) has, by an order dated September 29, 2023, imposed a monetary penalty of ₹10,000/- (Rupees Ten thousand only) on The Manjeri Co-operative Urban Bank Ltd., Manjeri, Malappuram District, Kerala (the bank) for non-compliance with the directions issued by RBI on “Customer Protection - Limiting Liability of Customers of Cooperative Banks in Unauthorised Electronic Banking Transactions”, “Basic Cyber Security Framework for Primary (Urban) Co-operative Banks (UCBs)”, and “Comprehensive Cyber Security Framework for Primary (Urban) Co-operative Banks (UCBs)”. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

I.T-Bill91 days182 days364 days II.Total Face Value Notified₹7,000 Crore₹8,000 Crore₹9,000 Crore III.Cut-off Price and Implicit Yield at Cut-Off Price98.3004 (YTM: 6.9349%)96.5634 (YTM: 7.1374%)93.3355
(YTM: 7.1600%) IV.Total Face Value Accepted₹7,000 Crore₹8,000 Crore₹9,000 Crore

Ajit Prasad           
Director (Communications)

Press Release: 2023-2024/1171

RBI-Retail Direct Scheme was launched by the Hon’ble Prime Minister on November 12, 2021. Under the Scheme, individual investors are permitted to open Retail Direct Gilt account with the Reserve Bank of India, using an online portal (https://rbiretaildirect.org.in), through which investments in Government Securities can be made in primary and secondary market. The scheme has brought Government Securities within easy reach of retail investors by simplifying the process of investment.

Government of India (GOI) has announced the sale (Issue/re-issue) of three dated securities for a notified amount of ₹30,000 crore as per the following details:

Sr No    Security    Date of Repayment    Notified Amount
(₹ crore)    GoI specific Notification    Auction Date    Settlement Date
1    New GS 2026    Oct 30, 2026    8,000    F.No.4(3)-B(W&M)/2023 dated October 23, 2023    October 27, 2023
(Friday)    October 30, 2023
(Monday)
2    7.18% GS 2037    July 24, 2037    10,000
3    7.25% GS 2063    June 12, 2063    12,000

Total    
30,000    

2. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above.

The Reserve Bank of India (RBI) has, by an order dated September 25, 2023, imposed a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on Indrayani Co-operative Bank Ltd., Pimpri, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47-A (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 19, 2023, imposed a monetary penalty of ₹13.30 lakh (Rupees Thirteen lakh Thirty thousand only) on SVC Co-operative Bank Ltd., Mumbai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers conferred on RBI under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The result of the auction of State Government Securities held on October 23, 2023 is as under: (Amount in ₹ Crore) ANDHRA PRADESH 2036ANDHRA PRADESH 2042JAMMU AND KASHMIR UT 2053KARNATAKA 2033 Notified Amount100010003001000

Tenure13193010

Competitive Bids Received


 

(i) No.7223678

(ii) Amount4720317513005505

Cut-off Yield (%)7.727.667.607.69

Competitive Bids Accepted


 

(i) No.241121

(ii) Amount989.098999.965299.949982.176

Partial Allotment Percentage of Competitive Bids


 

(i) Percentage24.310899.996599.98333.8708

(ii) No.(11 bids)(1 bid)(1 bid)(7 bids)

Non-Competitive Bids Received


 

(i) No.3126

(ii) Amount10.9020.0350.05117.824

Non-Competitive Price (₹)100.14100.00100.00100.09

Sr. NoState / UTAmount to be raised
(₹ Crore)Amount Accepted
(₹ Crore)Cut off Price (₹) /
Yield (%)Tenure (Year)

1Andhra Pradesh100010007.7213

100010007.6619

2Jammu and Kashmir3003007.6030

3Karnataka100010007.6910

100010007.7011

4Madhya Pradesh100010007.6811

5Maharashtra2000200098.35/7.6997Reissue of 7.46% Maharashtra SGS 2033 issued on September 13, 2023

2000200098.24/7.7101Reissue of 7.47% Maharashtra SGS 2034 issued on September 13, 2023

6Manipur1001007.7312

7Rajasthan100010007.7110

8Tamil Nadu100010007.687

200020007.7210

200020007.6620

9Telangana5005007.7212

10Uttar Pradesh300030007.7010

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume
(One Leg)Weighted
Average RateRange A. Overnight Segment (I+II+III+IV)8,432.506.695.50-6.90 I. Call Money608.806.195.50-6.50 II. Triparty Repo7,763.556.746.50-6.90 III. Market Repo60.156.476.25-6.75 IV. Repo in Corporate Bond0.00-- B. Term Segment

 

     I. Notice Money**24.305.765.70-5.80

     II. Term Money@@0.00--

     III. Triparty Repo0.00--

     IV. Market Repo0.00--

     V. Repo in Corporate Bond0.00--

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume
(One Leg)Weighted
Average RateRange A. Overnight Segment (I+II+III+IV)8,432.506.695.50-6.90 I. Call Money608.806.195.50-6.50 II. Triparty Repo7,763.556.746.50-6.90 III. Market Repo60.156.476.25-6.75

     IV. Repo in Corporate Bond0.00--

B. Term Segment

 

     I. Notice Money**24.305.765.70-5.80

     II. Term Money@@0.00--

     III. Triparty Repo0.00--

     IV. Market Repo0.00--

     V. Repo in Corporate Bond0.00--

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume
(One Leg) Weighted
Average RateRange A. Overnight Segment (I+II+III+IV)15,030.306.595.50-7.85 I. Call Money1,311.006.425.50-6.85 II. Triparty Repo9,992.506.706.26-6.90 III. Market Repo3,546.806.316.25-6.50 IV. Repo in Corporate Bond180.007.456.89-7.85

B. Term Segment

 

     I. Notice Money**7,616.996.765.55-6.90

     II. Term Money@@367.00-6.80-7.10

     III. Triparty Repo326,092.606.766.00-6.85

     IV. Market Repo155,737.096.746.00-6.90

     V. Repo in Corporate Bond20.008.608.60-8.60

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Suri Friends' Union Co-operative Bank Limited, Suri (West Bengal) vide Directive No. CO.DOS.SED.No.S-2574/12-07-005 /2022-23 dated July 21, 2022 for a period of six months up to January 22, 2023, as modified from time to time, which were last extended up to October 22, 2023, vide Directive No. DOR.MON.D-43/ 12.29.046/2023-24 dated July 20, 2023.

In terms of GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series IV - Issue date October 23, 2017) and F.No. 4(22)-B(W&M)/2018 dated October 08, 2018 (SGB 2018-19 Series II – Issue date October 23, 2018) 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 tranches shall be October 23, 2023.