Press Releases

The rate of interest on Government of India Floating Rate Bond 2031 (FRB 2031) applicable for the half year June 07, 2024 to December 06, 2024 shall be 7.98 per cent per annum. It may be recalled that FRB 2031 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield of last three auctions (from the rate fixing day i.e. June 07, 2024) of 182 Day T-Bills, plus a fixed spread of One per cent. 

I. SUMMARY RESULTS Aggregate amount (Face Value) notified by RBI ₹ 30,000.000 crore Total amount offered (Face Value) by participants ₹ 8,631.914 crore Total amount accepted (Face Value) by RBI ₹ 7,287.563 crore  II. DETAILS OF EACH SECURITY  Security 7.35% GS 2024 8.40% GS 2024 6.18% GS 2024 FRB 2024 9.15% GS 2024 No. of offers received 6 1 11 6 2 Total amount (Face Value) offered (₹ Crore) 953.017 500.000 1,566.334 5,592.563 20.000 No of offers accepted 2 1 6 4 1 Total amount (Face Value) accepted by RBI (₹ Crore) 308.000 500.000 1,077.000 5,392.563 10.000 Cut off price (₹) 100.02 100.21 99.66 100.00 100.90 Weighted Avg Price (₹) 100.02 100.21 99.65 99.99 100.90 Ajit Prasad Deputy General Manager (Communications) Press Release: 2024-2025/448

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Imperial Urban Cooperative Bank Ltd., Jalandhar vide Directive No. CDG.DOS.RSG.No.S1645/16-03-46/2022-23 dated March 9, 2023 for a period of six months up to close of business on September 10, 2023, as modified from time to time which were last extended up to close of business on June 10, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on June 10, 2024.

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on June 07, 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) 558,158.40 6.43 0.01-7.50 I. Call Money 12,547.11 6.52 5.10-6.60 II. Triparty Repo 387,115.95 6.44 6.35-6.64 III. Market Repo 157,487.34 6.39 0.01-6.75 IV. Repo in Corporate Bond 1,008.00 6.70 6.60-7.50

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹4000 Crore ₹4000 Crore ₹4000 Crore II. Competitive Bids Received (i) Number 62 77 96 (ii) Amount ₹12821.325 Crore ₹12948.200 Crore ₹16629.280 Crore III. Cut-off price / Yield 98.3180 96.6185 93.4445 (YTM:6.8619%) (YTM:7.0189%) (YTM:7.0347%) IV. Competitive Bids Accepted

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹4,000 Crore ₹4,000 Crore ₹4,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.3180 (YTM: 6.8619%) 96.6185 (YTM: 7.0189%) 93.4445 (YTM: 7.0347%) IV. Total Face Value Accepted ₹4,000 Crore ₹4,000 Crore ₹4,000 Crore

The Reserve Bank has today released data on Reserve Money for the week ended May 31, 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@  Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 520,476.60 6.34 0.01-7.45 I. Call Money 11,424.72 6.46 5.10-6.60 II. Triparty Repo 342,588.90 6.34 6.20-6.69 III. Market Repo 165,707.98 6.35 0.01-6.85 IV. Repo in Corporate Bond 755.00 6.55 6.50-7.45

Today, the Reserve Bank released the web publication ‘Deposits with Scheduled Commercial Banks – March 2024 ’ on its ‘Database on Indian Economy’ portal (https://dbie.rbi.org.in Homepage > Publications). Scheduled commercial banks (SCBs) {including regional rural banks (RRBs)} report branch-wise data on type of deposits (current, savings and term), its institutional sector wise ownership, age wise distribution of deposits pertaining to individuals, maturity pattern of term deposits as well as number of employees in the annual ‘Basic Statistical Return’ (BSR) - 2 return. These data are released at disaggregated level (viz., type of deposits, population groups , bank groups, states, districts, centres, interest rate ranges, size, original and residual maturity).

Today, the Reserve Bank released the web publication ‘Basic Statistical Return on Credit by Scheduled Commercial Banks (SCBs) in India – March 2024’ on its ‘Database on Indian Economy’ (DBIE) portal (https://dbie.rbi.org.in Homepage > Publications). The publication provides information on various characteristics of bank credit in India, based on data submitted by SCBs {including Regional Rural Banks (RRBs)} under the annual ‘Basic Statistical Return (BSR) – 1’ system, which collects information on type of account, organisation, occupation/activity and category of the borrower, district and population group of the place of utilisation of credit, rate of interest, credit limit and amount outstanding.

The result of the auction of State Government Securities held on June 04, 2024 is as under: (Amount in ₹Crore)  ANDHRA PRADESH 2042 ANDHRA PRADESH 2044 ANDHRA PRADESH 2046 ANDHRA PRADESH 2049 Notified Amount 1000 1000 1000 1000 Tenure 18 20 22 25 Competitive Bids Received (i) No. 32 14 10 13 (ii) Amount 1680 2115 1415 1540 Cut off Yield (%) 7.43 7.43 7.43 7.38 Competitive Bids Accepted

Tenor 3-day Notified Amount (in ₹ crore) 50,000 Total amount of offers received (in ₹ crore) 2,700 Amount accepted (in ₹ crore) 2,700 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

Sr. No.    State/UT    Amount to be raised (₹Crore)    Amount Accepted (₹ Crore)    Cut off Yield (%)    Tenure (Year) 1.    Andhra Pradesh    1000    1000    7.43    18 1000    1000    7.43    20 1000    1000    7.43    22 1000    1000    7.38    25 

On a review of the current and evolving liquidity conditions, it has been decided to conduct a second Variable Rate Reverse Repo (VRRR) auction on June 04, 2024, Tuesday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 3 1:30 PM to 2:00 PM June 07, 2024 (Friday) 2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

Tenor 3-day Notified Amount (in ₹ crore) 50,000 Total amount of offers received (in ₹ crore) 41,730 Amount accepted (in ₹ crore) 41,730 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.48 Partial Acceptance Percentage of offers received at cut off rate NA

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on June 04, 2024, Tuesday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 3 11:00 AM to 11:30 AM June 07, 2024 (Friday)  2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same. (Puneet Pancholy)

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@  Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 553,765.54 6.35 1.00-7.45 I. Call Money 10,519.04 6.46 5.10-6.55 II. Triparty Repo 362,057.40 6.32 6.05-6.45 III. Market Repo 180,309.10 6.38 1.00-6.55 IV. Repo in Corporate Bond 880.00 6.63 6.55-7.45

The Reserve Bank of India (RBI) has, by an order dated May 22, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three lakh only) on The Bavla Nagarik Sahakari Bank Ltd., Dist. Ahmedabad, Gujarat (the bank) for non-compliance with the 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 ‘Master Direction - Know Your Customer (KYC) Direction, 2016’. 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 (GOI) has announced the sale (re-issue) of two dated securities for a notified amount of ₹29,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (Rs. crore) GoI specific Notification Auction Date Settlement Date 1 7.10% GS 2034 April 08, 2034 20,000 F.No.4(3)-B(W&M)/2024 dated June 03, 2024 June 07, 2024 (Friday) June 10, 2024 (Monday) 2 7.30% GS 2053 June 19, 2053 9,000 Total 29,000