Press Releases

Today the Reserve Bank of India placed on its website a Working Paper titled, “Vegetables Inflation in India: A Study of Tomato, Onion and Potato (TOP)” under the Reserve Bank of India Working Paper Series . The paper is co-authored by Ranjana Roy, Sanchit Gupta, Harsh Wardhan, Suvendu Sarkar, Soumasree Tewari, Rohan Bansal, Shelja Bhatia and Ashok Gulati.

Today the Reserve Bank of India placed on its website a Working Paper titled, “Pulses Inflation in India: A Study of Gram, Tur and Moong” under the Reserve Bank of India Working Paper Series . The paper is co-authored by Shyma Jose, Sanchit Gupta, Manish Kumar Prasad, Sandip Das, Asish Thomas George, Thangzason Sonna, D. Suganthi and Ashok Gulati.

Today the Reserve Bank of India placed on its website a Working Paper titled, “Price Dynamics and Value Chain of Fruits in India: A Study of Grapes, Bananas and Mangoes” under the Reserve Bank of India Working Paper Series . The paper is co-authored by Raya Das, Ranjana Roy, Sanchit Gupta, Sanjib Bordoloi, Rishabh Kumar, Renjith Mohan and Ashok Gulati.

Today the Reserve Bank of India placed on its website a Working Paper titled, “Livestock and Poultry Inflation in India: A Study of Milk, Poultry Meat and Eggs” under the Reserve Bank of India Working Paper Series . The paper is co-authored by Shyma Jose, Manish Kumar Prasad, Sabarni Chowdhury, Binod B. Bhoi, Vimal Kishore, Himani Shekhar and Ashok Gulati.

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹7000 Crore ₹6000 Crore ₹6000 Crore II. Competitive Bids Received (i) Number 70 62 89 (ii) Amount ₹ 23191.575 Crore ₹ 14035 Crore ₹ 19584 Crore

I. T-Bill 91 days 182 days 364 days 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 98.4116 (YTM:6.4739%) 96.8312 (YTM: 6.5630%) 93.8696 (YTM: 6.5487%) IV. Total Face Value Accepted ₹7,000 Crore ₹6,000 Crore ₹6,000 Crore

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS 22-Sep-2023 06-Sep-2024* 20-Sep-2024* 22-Sep-2023 06-Sep-2024* 20-Sep-2024* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from banks 238947.16 298116.19 305242.17 241286.78 302401.77 309870.91** b) Borrowings from banks 195119.20 128865.30 134120.98 195203.10 129153.89 134244.47 c) Other demand & time liabilities 70559.31 23518.75 22914.77 70625.00 23846.90 23226.77

Tenor 1-day Notified Amount (in ₹ crore) 1,75,000 Total amount of offers received (in ₹ crore) 48,120 Amount accepted (in ₹ crore) 48,120 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

Government of India has announced the sale (issue / re-issue) of Government Securities, as detailed below, through auctions to be held on October 04, 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:

(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 - -

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 03, 2024, Thursday, as under:

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 547,802.76 6.34 1.00-6.65 I. Call Money 9,683.93 6.48 5.10-6.55 II. Triparty Repo 365,772.85 6.28 6.05-6.44 III. Market Repo 170,912.98 6.46 1.00-6.60 IV. Repo in Corporate Bond 1,433.00 6.59 6.55-6.65 B. Term Segment I. Notice Money** 444.11 6.35 5.85-6.55 II. Term Money@@ 994.00 - 6.70-7.33 III. Triparty Repo 700.00 6.45 6.40-6.48 IV. Market Repo 1,848.76 6.64 6.60-6.68 V. Repo in Corporate Bond 0.00 - -

The Reserve Bank of India today placed on its website the Report of the Committee on MIBOR Benchmark (Chairperson: Shri R. Subramanian). The Committee was set up to review the Rupee interest rate benchmarks in the country, especially the usage of Mumbai Interbank Outright Rate (MIBOR) and to examine the need for transition to new benchmarks.

The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. The status of withdrawal of ₹2000 banknotes is periodically published by the RBI. The last press release in this regard was published on September 02, 2024. 

The result of the auction of State Government Securities held on October 01, 2024 is as under: (Amount in ₹Crore) ANDHRA PRADESH 2038 ANDHRA PRADESH 2044 ANDHRA PRADESH 2048 ASSAM 2039 Notified Amount 1000 1000 1000 750 Tenure 14 20 24 15 Competitive Bids Received (i) No. 80 44 30 34 (ii) Amount 5065 3575 3580 2830 Cut off Price (₹) / Yield (%) 7.11 7.14 7.14 7.13

Today, the Reserve Bank of India released on its website the DRG Study titled, “Monetary Policy Transmission and Labour Markets in India.” The study is co-authored by Chetan Ghate, Satadru Das, Debojyoti Mazumder, Sreerupa Sengupta, and Satyarth Singh.

Sr. No. State Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹) / Yield (%) Tenure (Year) 1 Andhra Pradesh 1000 1000 7.11 14 1000 1000 7.14 20 1000 1000 7.14 24 2 Assam 750 750 7.13 15 3 Bihar 2000 2000 7.11 9 4 Goa 100 100 7.12 11 5 Haryana 1500 1500 7.12 12

Tenor 3-day Notified Amount (in ₹ crore) 1,75,000 Total amount of offers received (in ₹ crore) 93,815 Amount accepted (in ₹ crore) 93,815 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers 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) 516,144.89 6.65 1.00-7.15 I. Call Money 6,770.59 6.68 5.10-6.90 II. Triparty Repo 348,881.75 6.64 6.52-6.95 III. Market Repo 158,994.55 6.66 1.00-6.90 IV. Repo in Corporate Bond 1,498.00 6.84 6.80-7.15

Government of India (GOI) has announced the sale (issue / re-issue) of three dated securities for a notified amount of ₹39,000 crore as per the following details: Sr No    Security    Date of Repayment    Notified Amount (₹ Crore)    GoI specific Notification    Auction Date    Settlement Date 1    7.02% GS 2027    May 27, 2027    7,000    F.No.4(3)-B(W&M)/2024 dated September 30, 2024 October 04, 2024 (Friday)    October 07, 2024 (Monday) 2    New GS 2034    Oct 07, 2034    22,000    3    7.46% GS 2073    Nov 06, 2073    10,000    Total    39,000    2. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above. 

Today, the Reserve Bank of India releases Volume 44, No.2, 2023 of its Occasional Papers, a research journal containing contributions from its staff. This issue contains three articles and three book reviews. Articles: 1. Cross-border Capital Flows and Sudden Stops: Lessons from Emerging Market Economies

Today, the Reserve Bank released data relating to India’s International Investment Position for end-June 2024[1]. Key Features of India’s IIP in end-June 2024: Net claims of non-residents on India increased by US$ 6.7 billion during Q1:2024-25 to US$ 368.3 billion in June 2024. •    The rise in net claims of non-residents during the quarter was due to higher increase in foreign-owned assets in India (US$ 28.8 billion) vis-à-vis that in Indian residents’ overseas financial assets (US$ 22.1 billion) (Table 1). •    Inward direct investment was the largest contributor to the rise in foreign liabilities during April-June 2024 followed by currency and deposits, loans and trade credit. 

The Reserve Bank of India (RBI) has, by an order dated September 25, 2024, imposed a monetary penalty of ₹1.50 lakh /- (Rupees One Lakh Fifty Thousand only) on Jai Bhawani Sahakari Bank Ltd., Pune, Maharashtra (the bank) for contravention of the provisions of section 26 A read with section 56 of the Banking Regulation Act, 1949 (BR Act), non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’ and ‘Maintenance of Deposit Accounts –Primary (Urban) Co-operative Banks’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act.

Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of September 2024 are set out in Tables 1 to 7. Highlights:

The value of exports and imports of services during August 2024 is given in the following table. International Trade in Services (US$ million) Month Receipts (Exports) Payments (Imports) April – 2024 30,179 (17.1) 16,749 (20.0) May – 2024 29,614 (9.7) 16,863 (6.2)

The stock of external debt at end-June 2024 as well as revised data for earlier quarters are set out in Statements I (IMF format ) and II (old format). The major developments relating to India’s external debt as at end-June 2024 are presented below. Highlights • At end-June 2024, India’s external debt was placed at US$ 682.3 billion, an increase of US$ 13.3 billion over its level at end-March 2024 (Table 1).

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 01, 2024, Tuesday, as under:

Data on sectoral deployment of bank credit for the month of August 2024 collected from 41 select scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks, are set out in Statements I and II.

Today, the Reserve Bank of India released the balance of payments (BoP) data for the first quarter (Q1), i.e., April-June of 2024-25 on its website (www.rbi.org.in). On the basis of these data, the sources of variation in foreign exchange reserves during April-June 2024 are detailed below in Table 1

Preliminary data on India’s balance of payments (BoP) for the first quarter (Q1), i.e., April-June 2024-25, are presented in Statements I and II. Key Features of India’s BoP in Q1:2024-25 • India’s current account deficit (CAD) widened marginally to US$ 9.7 billion (1.1 per cent of GDP) in Q1:2024-25 from US$ 8.9 billion (1.0 per cent of GDP) in Q1:2023-24 and against a surplus of US$ 4.6 billion (0.5 per cent of GDP) in Q4:2023-24.

Tenor 4-day Notified Amount (in ₹ crore) 1,00,000 Total amount of offers received (in ₹ crore) 1,000 Amount accepted (in ₹ crore) 1,000 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers 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) 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 - -

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 576,030.71 6.47 5.10-6.75 I. Call Money 10,317.52 6.53 5.10-6.65 II. Triparty Repo 409,571.75 6.44 6.25-6.60 III. Market Repo 154,783.44 6.55 6.00-6.70 IV. Repo in Corporate Bond 1,358.00 6.62 6.60-6.75

To mark the 90th year of its establishment, Reserve Bank of India hosted RBI@90 Inter Institutional Cricket Tournament at Jaipur, Rajasthan from September 21-28, 2024. Teams with Indian players having experience of playing at International and National level participated in the tournament. The tournament was played in the twenty over format.

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.SED.No. S4800/12-23-151/2024-2025 dated September 26, 2024, has issued certain Directions to Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak, (the bank) whereby, as from the close of business on September 27, 2024, the bank shall not, without prior approval of RBI in writing, grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated September 26, 2024. Considering the bank's present liquidity position, the bank has been directed not to allow withdrawal of any amount from savings bank, current accounts or any other account of a depositor, but set off of loans against deposits is allowed, subject to the conditions stated in the above RBI Directions. The bank may incur expenditure in respect of certain essential items such as salaries of employees, rent, electricity bills, etc. as specified in the said Directions.

In terms of GOI Notification F.No. 4(7)-W&M/2016 dated August 29, 2016 (SGB 2016 -17 Series II - Issue date September 30, 2016) on Sovereign Gold Bond Scheme, the Gold Bond shall be repayable on the expiration of eight years from the date of issue of the Gold Bonds.  Accordingly, the final redemption date of the above tranche shall be September 30, 2024.

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹19,942 Crore (Face Value). Sr. No. State Amount to be raised. (₹Crore) Tenure (Year) Type of Auction 1 Andhra Pradesh 1000 14 Yield 1000 20 Yield 1000 24 Yield 2 Assam 750 15 Yield

The Reserve Bank today held a Conference in Bengaluru for the Directors on the Boards of Small Finance Banks (SFBs). Shri Swaminathan J, Deputy Governor inaugurated the Conference. The event, with the theme ‘Governance in SFBs - Driving Sustainable Growth and Stability’, is part of a series of supervisory engagements that the Reserve Bank has been organising with the Directors of its Supervised Entities in recent past. Earlier, the Conferences for Directors on the Boards of Public Sector Banks and Private Sector Banks were held in May 2023 and for UCBs in August 2023 and June 2024.

The Reserve Bank of India, in consultation with the State Governments/Union Territories (UTs), announces that the quantum of total market borrowings by the State Governments/UTs for the quarter October – December 2024, is expected to be ₹3,20,121 Crore.

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No. Treasury Bill Notified Amount (in ₹ Crore) Auction Date Settlement Date 1 91 Days 7,000 October 03, 2024 (Thursday) October 04, 2024 (Friday) 2 182 Days 6,000 3 364 Days 6,000 Total 19,000

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on September 30, 2024, Monday, as under:

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Sep. 22 Sep. 13 Sep. 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 13480 29725 26447 -3279 12967 * Data are provisional; difference, if any, is due to rounding off.

Auction Results 7.04% GS 2029 7.23% GS 2039 7.09% GS 2054 I. Notified Amount ₹12,000 crore ₹12,000 crore ₹10,000 crore II. Underwriting Notified Amount ₹12,000 crore ₹12,000 crore ₹10,000 crore III. Competitive Bids Received (i) Number 154 196 203

7.04% GS 2029 7.23% GS 2039 7.09% GS 2054 I. Notified Amount ₹12,000 crore ₹12,000 crore ₹10,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 101.52/6.6530% 104.07/6.7848% 102.28/6.9076% III. Amount accepted in the auction ₹12,000 crore ₹12,000 crore ₹10,000 crore IV. Devolvement on Primary Dealers NIL NIL NIL

In the underwriting auctions conducted on September 27, 2024, 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: (₹ crore) Nomenclature of the Security Notified Amount Minimum Underwriting Commitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount underwritten ACU Commission Cut-off rate (paise per ₹100) 7.04% GS 2029 12,000 6,006 5,994 12,000 0.03 7.23% GS 2039 12,000 6,006 5,994 12,000 0.04 7.09% GS 2054 10,000 5,019 4,981 10,000 0.09 Auction for the sale of securities will be held on September 27, 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 579,199.63 6.48 5.00-6.80 I. Call Money 12,503.25 6.54 5.10-6.70 II. Triparty Repo 398,599.90 6.43 6.20-6.80 III. Market Repo 166,728.48 6.58 5.00-6.80 IV. Repo in Corporate Bond 1,368.00 6.66 6.65-6.75

The Reserve Bank of India (RBI) has, by an order dated September 20, 2024, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty thousand only) on The Bihar Awami Co-operative Bank Ltd., Patna (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) and for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’ . 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 BR Act.

The Reserve Bank of India (RBI) has, by an order dated September 23, 2024, imposed a monetary penalty of ₹61.60 lakh (Rupees Sixty one lakh and sixty thousand only) on The Surat People’s Co-operative Bank Limited, Surat (the bank), for non-compliance with certain directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters’, ‘Loans and advances to directors and their relatives, and firms/concerns in which they are interested’, ‘Maintenance of Deposit Accounts’ and ‘Customer Service’. 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.

It has been decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the second half of the financial year 2024-25 (October 2024 to March 2025) will be ₹50,000 crore.

The Reserve Bank of India, in consultation with the Government of India, hereby, notifies the calendar for issuance of Treasury Bills for the quarter ending December 2024 as under

In order to enable institutional and retail investors to plan their investments efficiently and to provide transparency and stability to the Government Securities Market, the Reserve Bank of India, in consultation with the Government of India, hereby, notifies the indicative calendar for issuance of Government dated securities, including Sovereign Green Bonds (SGrB), for the second half of the fiscal year 2024-25 (October 01, 2024 to March 31, 2025). The issuance calendar is as under:

Today the Reserve Bank of India placed on its website a research study titled “Status of Digital Financial Literacy in Lakshadweep Islands: Bottlenecks and Way Forward” under the Project Research Study . The study is based on the primary data collected from all the ten inhabited islands in Lakshadweep - Agatti, Amini, Andrott, Bitra, Chetlat, Kadmat, Kalpeni, Kavaratti, Kiltan and Minicoy - to analyse the present status of digital financial literacy and digital financial inclusion. While households were the primary unit of enumeration of the survey, SHG members, bank employees, school authorities, students and business-persons in the islands were also interviewed.

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on September 27, 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: (₹ crore)

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Colour Merchants Co-operative Bank Ltd., Ahmedabad vide Directive AMD.DOS.SSM.No.S1053/11-03-039/2023-2024 dated September 25, 2023, for a period of six months up to close of business on March 25, 2024, which was last extended up to September 25, 2024 vide Directive DOR.MON.D-29/12.21.039/2024-25 dated June 24, 2024

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 558,492.52 6.55 5.10-6.85 I. Call Money 10,906.90 6.68 5.10-6.80 II. Triparty Repo 383,880.85 6.49 6.24-6.65 III. Market Repo 162,306.77 6.67 5.50-6.85 IV. Repo in Corporate Bond 1,398.00 6.80 6.80-6.85

The Reserve Bank has today released data on Reserve Money for the week ended September 20, 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 574,172.54 6.68 5.10-6.95 I. Call Money 11,157.67 6.69 5.10-6.80 II. Triparty Repo 397,183.95 6.66 6.20-6.77 III. Market Repo 164,382.92 6.74 6.25-6.95 IV. Repo in Corporate Bond 1,448.00 6.85 6.80-6.90

The result of the auction of State Government Securities held on September 24, 2024 is as under: (Amount in ₹ Crore) ASSAM 2031 BIHAR 2033 CHHATTISGARH 2030 GOA 2034 Notified Amount 250 2000 1000 150 Tenure 7 9 6 10 Competitive Bids Received (i) No. 11 59 36 23 (ii) Amount 1150 6085 5060 938 Cut off Price (₹) / Yield (%) 7.05 7.12 7.03 7.12

Sr. No. State Amount to be raised (₹Crore) Amount Accepted (₹ Crore) Cut off Price (₹) / Yield (%) Tenure (Year) 1 Assam 250 250 7.05 7 2 Bihar 2000 2000 7.12 9 3 Chhattisgarh 1000 1000 7.03 6 4 Goa 150 150 7.12 10 5 Haryana 1000 1000 7.12 12 6 Karnataka 3000 3000 6.95 4 7 Madhya Pradesh 2500 2500 7.12 12

Tenor 2-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 91,035 Amount allotted (in ₹ crore) 50,003 Cut off Rate (%) 6.62 Weighted Average Rate (%) 6.64 Partial Allotment Percentage of bids received at cut off rate (%) 89.83

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on September 24, 2024, Tuesday, as under:

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 584,136.10 6.69 1.00-6.95 I. Call Money 9,938.90 6.68 5.10-6.80 II. Triparty Repo 403,004.70 6.67 6.30-6.77 III. Market Repo 169,807.50 6.74 1.00-6.90 IV. Repo in Corporate Bond 1,385.00 6.88 6.85-6.95

Government of India (GOI) has announced the sale (re-issue) of three dated securities for a notified amount of ₹34,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 7.04% GS 2029 Jun 03, 2029 12,000 F.No.4(3)-B(W&M)/2024 dated September 23, 2024 September 27, 2024 (Friday) September 30, 2024 (Monday) 2 7.23% GS 2039 Apr 15, 2039 12,000 3 7.09% GS 2054 Aug 05, 2054 10,000 Total 34,000

A. Source Security 5.22% GS 2025 8.20% GS 2025 7.59% GS 2026 8.15% GS 2026 B. Notified Amount (amount in ₹ cr) 2,000 6,000 2,000 3,000 Destination Security 7.40% GS 2035 7.40% GS 2035 8.32% GS 2032 6.67% GS 2035 C. i. No. of offers received 15 4 3 9 ii. Total amount of Source Security offered (Face value in ₹ cr) 3,638.000 6,626.671 2,265.000 2,360.000 iii. No of offers accepted 12 2 2 9 iv. Total amount of source security accepted (Face value in ₹ cr) 2,000.000 6,000.000 2,000.000 2,360.000

Tenor 1-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 1,02,655 Amount allotted (in ₹ crore) 50,007 Cut off Rate (%) 6.65 Weighted Average Rate (%) 6.66 Partial Allotment Percentage of bids received at cut off rate (%) 91.74

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on September 23, 2024, Monday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 1 12:30 PM to 1:00 PM September 24, 2024 (Tuesday)

(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 - -

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 22,475.09 6.66 5.00-6.80 I. Call Money 1,061.10 6.29 5.75-6.70 II. Triparty Repo 19,575.90 6.73 6.25-6.80 III. Market Repo 1,838.09 6.19 5.00-6.75 IV. Repo in Corporate Bond 0.00 - - B. Term Segment I. Notice Money** 2.00 6.00 6.00-6.00 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) 7,728.83 6.48 5.75-7.00 I. Call Money 1,164.20 6.22 5.75-6.55 II. Triparty Repo 5,257.05 6.48 6.10-7.00 III. Market Repo 199.58 6.75 6.75-6.75 IV. Repo in Corporate Bond 1,108.00 6.74 6.71-6.80

The rate of interest on Government of India Floating Rate Bond 2033 (GOI FRB 2033) applicable for the half year September 22, 2024 to March 21, 2025 shall be 7.93 percent per annum.

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹34,400 Crore (Face Value). Sr. No. State Amount to be raised. (₹Crore) Tenure (Year) Type of Auction 1 Assam 250 7 Yield 2 Bihar 2000 9 Yield 3 Chhattisgarh 1000 6 Yield 4 Goa 150 10 Yield 5 Haryana 1000 12 Yield 6 Karnataka 3000 4 Yield 7 Madhya Pradesh 2500 12 Yield 2500 19 Yield

The Reserve Bank of India has sanctioned the Scheme  of Amalgamation of The Rajapur Sahakari Bank Ltd., Mumbai, Maharashtra with The  Malad Sahakari Bank Ltd., Mumbai, Maharashtra. The Scheme has been sanctioned  in exercise of the powers conferred under Sub-Section (4) of Section 44A read  with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into  force with effect from September 23, 2024. The branches of The Rajapur Sahakari  Bank Ltd., Mumbai (Maharashtra) will function as branches of The Malad Sahakari  Bank Ltd., Mumbai (Maharashtra) with effect from September 23, 2024.

Today, the Reserve Bank released the September 2024 issue of its monthly Bulletin. The Bulletin includes eleven speeches, four articles, and current statistics. The four articles are: I. State of the Economy; II. Synchronisation of Indian States’ Business Cycle; III. Priority Sector Lending: The Indian Experience; IV. Peeling the Layers: A Review of the NBFC Sector in Recent Times.

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS 08-Sep-2023 23-Aug-2024* 06-Sep-2024* 08-Sep-2023 23-Aug-2024* 06-Sep-2024* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from banks 248727.47 294896.40 297810.00 251106.12 298809.39 302095.57** b) Borrowings from banks 188137.55 126681.45 128865.30 188207.97 126693.70 129153.89 c) Other demand & time liabilities 69409.90 77788.66 23520.31 70117.34 78091.61 23848.47 II LIABILITIES TO OTHERS (A) a) Deposits (other than from banks) 19388696.45 21325126.04 21549984.81 19828360.43 21775041.27 22001736.24 i) Demand 2199179.49 2446039.12 2456817.43 2244723.98 2494144.42 2505222.10

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Sep. 15 Sep. 6 Sep. 13 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 16939 35426 29725 -5701 12786 * Data are provisional; difference, if any, is due to rounding off.

Auction Results 7.10% GS 2034 7.34% GS 2064 I. Notified Amount ₹20,000 crore ₹11,000 crore II. Underwriting Notified Amount ₹20,000 crore ₹11,000 crore III. Competitive Bids Received (i) Number 292 290 (ii) Amount ₹54628.000 crore ₹31931.484 crore IV. Cut-off price / Yield 102.40 105.12 (YTM: 6.7540%) (YTM: 6.9577%) V. Competitive Bids Accepted (i) Number 98 82 (ii) Amount ₹19952.155 crore ₹10982.181 crore VI. Partial Allotment Percentage of Competitive Bids 47.87% 79.96% (33 Bids) (12 Bids) VII. Weighted Average Price/Yield 102.42 105.15 (WAY: 6.7512%) (WAY: 6.9555%)

7.10% GS 2034 7.34% GS 2064 I. Notified Amount ₹20,000 crore ₹11,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 102.40/6.7540% 105.12/6.9577% III. Amount accepted in the auction ₹20,000 crore ₹11,000 crore IV. Devolvement on Primary Dealers NIL NIL

Reserve Bank of India had invited entries under the captioned scheme vide press release dated 29 December 2023. On evaluation of the entries received, it has been decided to award Dr. Bidyanand Choudhary, Assistant Professor, Department of Economics, Jagannath Nagar College, Dhurwa, Ranchi-4, (Ranchi University), Jharkhand under this scheme for his book “झारखंड की अर्थव्यवस्था ".

Tenor 14-day Notified Amount (in ₹ crore) 25,000 Total amount of bids received (in ₹ crore) 40,526 Amount allotted (in ₹ crore) 25,002 Cut off Rate (%) 6.52 Weighted Average Rate (%) 6.54 Partial Allotment Percentage of bids received at cut off rate (%) 20.66

In the underwriting auctions conducted on September 20, 2024, 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: (₹ crore) Nomenclature of the Security Notified Amount Minimum Underwriting Commitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount underwritten ACU Commission Cut-off rate (paise per ₹100) 7.10% GS 2034 20,000 10,017 9,983 20,000 0.04 7.34% GS 2064 11,000 5,502 5,498 11,000 0.05 Auction for the sale of securities will be held on September 20, 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 560,841.79 6.53 5.10-6.85 I. Call Money 10,599.98 6.65 5.10-6.80 II. Triparty Repo 392,970.40 6.46 6.00-6.65 III. Market Repo 156,313.41 6.68 6.00-6.85 IV. Repo in Corporate Bond 958.00 6.80 6.79-6.81

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on September 20, 2024, Friday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 25,000 14 10:30 AM to 11:00 AM October 04, 2024 (Friday)

The Reserve Bank of India (RBl) has, by an order dated September 13, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Dr. Babasaheb Ambedkar Sahakari Bank Limited, Nashik, Maharashtra (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’. 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 Banking Regulation Act, 1949.

The Reserve Bank has today released data on Reserve Money for the week ended September 13, 2024 and Money Supply for the fortnight ended September 06, 2024.

The Reserve Bank of India (RBI) has, by an order dated September 12, 2024, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Urban Co-operative Bank Limited., Anantnag (the bank) for non-compliance with directions 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 Banking Regulation Act, 1949

The Reserve Bank of India (RBI) has, by an order dated September 13, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on Lucknow University Primary Co-operative Bank Ltd., Lucknow (the bank) for non-compliance 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 Banking Regulation Act, 1949.

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on September 20, 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: (₹ crore) Security Notified Amount Minimum Underwriting Commitment (MUC) amount per PD Minimum bidding commitment per PD under ACU auction 7.10% GS 2034 20,000 477 477 7.34% GS 2064 11,000 262 262

(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 - -

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 5,22,585.42 6.63 5.10-7.05 I. Call Money 10,794.41 6.65 5.10-6.95 II. Triparty Repo 3,57,241.00 6.60 6.30-7.05 III. Market Repo 1,53,777.01 6.70 6.00-7.00 IV. Repo in Corporate Bond 773.00 6.81 6.80-6.85

Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹30,000 crore (face value). The security-wise details of the conversion/switch are given as under:

The result of the auction of State Government Securities held on September 17, 2024 is as under:

Sr. No. State Amount to be raised (₹Crore) Amount Accepted (₹Crore) Cut off Yield (%) Tenure (Year) 1 Assam 500 500 7.13 10 2 Bihar 2000 2000 7.11 9 3 Chhattisgarh 1000 1000 7.00 5 4 Haryana 1000 1000 7.13 12 5 Kerala 1500 1500 7.14 23 6 Maharashtra 1500 1500 7.10 9 1500 1500 7.12 12 1500 1500 7.13 13 1500 1500 7.13 19 7 Tamil Nadu 1000 1000 7.10 10 8 Telangana 500 500 7.13 12 Total 13500 13500

Tenor 3-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 82,630 Amount allotted (in ₹ crore) 82,630 Cut off Rate (%) 6.51 Weighted Average Rate (%) 6.55 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) 72,435.82 6.63 5.50-6.95 I. Call Money 128.40 6.03 5.50-6.25 II. Triparty Repo 69,855.70 6.63 6.00-6.75 III. Market Repo 2,451.72 6.45 5.50-6.95 IV. Repo in Corporate Bond 0.00 - -

In terms of GOI Notification F. No. 4(7) – B (W&M) /2019 dated May 30, 2019 (SGB 2019-20 Series IV - Issue date September 17, 2019) 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 due date of premature redemption of the above tranche shall be September 17, 2024.

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB) and Rupee Denominated Bonds (RDB) both, through Automatic Route and Approval Route, for the month of July 2024.

(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 - -

(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 - -

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 519,571.32 6.47 5.10-6.85 I. Call Money 10,654.05 6.62 5.10-6.75 II. Triparty Repo 355,928.90 6.43 6.27-6.80 III. Market Repo 152,185.37 6.55 5.50-6.85 IV. Repo in Corporate Bond 803.00 6.62 6.60-6.65 B. Term Segment I. Notice Money** 89.00 6.46 6.20-6.65 II. Term Money@@ 246.50 - 6.95-7.25 III. Triparty Repo 3,814.40 6.60 6.45-6.65 IV. Market Repo 951.40 6.69 6.69-6.70 V. Repo in Corporate Bond 0.00 - -