Press Releases

As the statutory inspection of the Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District (hereinafter referred to as “the bank”) with respect to its financial position as on March 31, 2021 revealed significant deterioration of its financials, with assessed CRAR at (-)79.74%, net worth at ₹(-)4.67 crore and deposit erosion at 19.61%, the Reserve Bank of India vide its Directive No. BLR.DOS.SSMS.No.S2174/12-08-295/2022-23 dated February 23, 2023, placed the bank under All Inclusive Directions (AID) from the close of business on February 24, 2023. The AID was extended from time to time and the last extension is valid up to the close of business on August 24, 2024.

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auctions to be held on August 09, 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)

Statement on Developmental and Regulatory Policies This Statement sets out various developmental and regulatory policy measures relating to (i) Regulations; and (ii) Payment Systems. I.    Regulations 1.    Public Repository of Digital Lending Apps Guidelines on Digital Lending addressing protection of customers interest, data privacy, concerns on interest rates and recovery practices, mis-selling, etc. were issued on September 02, 2022. However, media reports have highlighted continued presence of unscrupulous players in digital lending who falsely claim their association with RBI regulated entities (REs). Accordingly, to aid the customers in verifying the claim of Digital Lending App’s (DLAs) association with REs, Reserve Bank is creating a public repository of DLAs deployed by the REs which will be available on RBI’s website. The repository will be based on data submitted by the REs (without any intervention by RBI) directly to the repository and will get updated as and when the REs report the details, i.e., add 

This was the 50th meeting of the Monetary Policy Committee (MPC) since its inception in September 2016. The flexible inflation targeting (FIT) framework will soon complete eight years of its functioning. The framework has worked well in maintaining macroeconomic stability even during times of extreme stress. Its embedded flexibility has withstood the pandemic-related stress, the spillovers from the war in Ukraine and the continuing geopolitical crisis. Today, while India’s growth remains strong, inflation is broadly on a declining trajectory. Strong macroeconomic fundamentals have led to greater confidence in India’s prospects.

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (August 8, 2024) decided to Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 501,423.01 6.37 5.00-7.00 I. Call Money 10,908.38 6.48 5.10-6.75 II. Triparty Repo 342,161.25 6.36 6.27-6.85 III. Market Repo 147,380.38 6.39 5.00-7.00 IV. Repo in Corporate Bond 973.00 6.50 6.50-6.51

The Reserve Bank has today released data on Reserve Money for the week ended August 02, 2024 and Money Supply for the fortnight ended July 26, 2024.

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹ 8000 Crore ₹ 6000 Crore ₹ 6000 Crore II. Competitive Bids Received (i) Number 87 128 124 (ii) Amount ₹ 24048.705 Crore ₹ 24361.500 Crore ₹ 37186.100 Crore III. Cut-off price / Yield 98.3727 96.7539 93.7106 (YTM:6.6351%) (YTM:6.7284%) (YTM:6.7300%)

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹8,000 Crore ₹6,000 Crore ₹6,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.3727 (YTM: 6.6351%) 96.7539 (YTM: 6.7284%) 93.7106 (YTM: 6.7300%) IV. Total Face Value Accepted ₹8,000 Crore ₹6,000 Crore ₹6,000 Crore

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 488,206.91 6.27 5.00-6.60 I. Call Money 10,378.45 6.41 5.10-6.50 II. Triparty Repo 327,444.85 6.24 6.00-6.30 III. Market Repo 149,530.61 6.34 5.00-6.60 IV. Repo in Corporate Bond 853.00 6.50 6.49-6.60

The result of the auction of State Government Securities held on August 06, 2024 is as under: (Amount in ₹Crore) ASSAM 2039 CHHATTISGARH 2029 HARYANA 2036 HIMACHAL PRADESH 2033 Notified Amount 1000 500 1000 500 Tenure 15 Reissue of 6.94% Chhattisgarh SDL 2029 issued on March 24, 2021 12 9 Competitive Bids Received (i) No. 50 31 87 33 (ii) Amount 2605 3500 5265 2105 Cut-off Yield (%) 7.3 7.1377 7.26 7.25

Sr. No. State/UT Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹) / Yield (%) Tenure (Year) 1 Assam 1000 1000 7.30 15 2 Chhattisgarh 500 500 99.22 / 7.1377 Reissue of 6.94% Chhattisgarh SDL 2029 issued on March 24, 2021 3 Haryana 1000 1000 7.26 12 4 Himachal Pradesh* 500 500 7.25 9 500 - - 11

Tenor 1-day Notified Amount (in ₹ crore) 50,000 Total amount of offers received (in ₹ crore) 19,954 Amount accepted (in ₹ crore) 19,954 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 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 second Variable Rate Reverse Repo (VRRR) auction on August 06, 2024, Tuesday, as under: Sl. No. Notified Amount (₹ crore) Tenor
(day) Window Timing Date of Reversal 1 50,000 1 12:45 PM to 1:15 PM August 07, 2024 (Wednesday)

Tenor 3-day Notified Amount (in ₹ crore) 75,000 Total amount of offers received (in ₹ crore) 23,803 Amount accepted (in ₹ crore) 23,803 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA Ajit Prasad Deputy General Manager (Communications) Press Release: 2024-2025/840

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on August 06, 2024, Tuesday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 75,000 3 11:15 AM to 11:45 AM August 09, 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.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 486,616.84 6.24 5.10-6.55 I. Call Money 9,957.04 6.44 5.10-6.55 II. Triparty Repo 322,230.65 6.18 5.92-6.37 III. Market Repo 153,691.15 6.34 5.75-6.50 IV. Repo in Corporate Bond 738.00 6.50 6.50-6.55

Government of India (GOI) has announced the sale (re-issue) of two dated securities for a notified amount of ₹31,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 7.10% GS 2034 April 08, 2034 20,000 F.No.4(3)-B(W&M)/2024 dated August 05, 2024 August 09, 2024 (Friday) August 12, 2024 (Monday) 2 7.34% GS 2064 April 22, 2064 11,000 Total 31,000

​The Reserve Bank of India had announced a Financial Literacy Ideathon for post graduate students on the topic “Money Matters for Young Adults: Rethinking Outreach Strategies” as part of its Financial Literacy Week 2024 campaign.2. A total of 256 entries were received. After a rigorous screening process, we are pleased to announce the following winners:

Regulated Entities (REs) generally use various models as part of their credit management, including for credit appraisal, borrower scoring, pricing, risk management, etc. With a view to addressing potential risks from use of such models and ensuring robustness in the process of model deployment by REs for credit decisions, the Reserve Bank of India today released the draft circular on ‘Regulatory Principles for Management of Model Risks in Credit’. The Comments on the draft circular are invited from public/stakeholders by September 4, 2024.