Press Releases

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

The Reserve Bank of India (RBI) has, by an order dated August 26, 2024, imposed a monetary penalty of ₹2,68,30,000 (Rupees Two crore sixty eight lakh and thirty thousand only) on UCO Bank (the bank) for contravention of provisions of section 26A of the Banking Regulation Act, 1949 (BR Act), and non-compliance with certain directions issued by RBI on ‘Interest Rate on Advances’, ‘Opening of Current Accounts by Banks - Need for Discipline’, ‘Interest Rate on Deposits’ and ‘Frauds classification and reporting by commercial banks and select FIs’.

The value of exports and imports of services during July 2024 is given in the following table. International Trade in Services (US$ million) Month Receipts (Exports) Payments (Imports)

Today, the Reserve Bank released its quarterly house price index (HPI) (base: 2010-11=100) for Q1:2024-25, based on transaction-level data received from the registration authorities in ten major cities . Time series data on all-India and city-wise HPIs are available at the Bank’s database on Indian economy (DBIE) portal (https://cimsdbie.rbi.org.in/DBIE/#/dbie/home> Statistics > Real Sector > Prices & Wages).Today, the Reserve Bank released its quarterly house price index (HPI) (base: 2010-11=100) for Q1:2024-25, based on transaction-level data received from the registration authorities in ten major cities . Time series data on all-India and city-wise HPIs are available at the Bank’s database on Indian economy (DBIE) portal (https://cimsdbie.rbi.org.in/DBIE/#/dbie/home> Statistics > Real Sector > Prices & Wages).

Today, the Reserve Bank released data on the performance of the private corporate sector during the first quarter of 2024-25 drawn from abridged quarterly financial results of 2,934 listed non-government non-financial companies. These also include comparable data for Q1:2023-24 and Q4:2023-24 to enable study of sequential (q-o-q) and annual change (y-o-y)Today, the Reserve Bank released data on the performance of the private corporate sector during the first quarter of 2024-25 drawn from abridged quarterly                    financial results of 2,934 listed non-government non-financial companies.                These also                 include comparable data for Q1:2023-24 and Q4:2023-24 to enable study of sequential (q-o-q) and annual change (y-o-y)

Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract 1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Aug. 25 Aug. 16 Aug. 23 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 16470 26767 26802 36 10332 * Data are provisional; difference, if any, is due to rounding off.

The Central Government has nominated Shri Nagaraju Maddirala, Secretary, Department of Financial Services, Ministry of Finance, Government of India as a Director on the Central Board of Reserve Bank of India vice Dr. Vivek Joshi. The nomination of Shri Nagaraju Maddirala is effective from August 30, 2024 and until further orders.

Data on sectoral deployment of bank credit for the month of July 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. On a year-on-year (y-o-y) basis, non-food bank credit registered a growth of 15.1 per cent in July 2024 as compared with 14.7 per cent a year ago.

Auction Results 7.10% GS 2034 7.09% GS 2054 I. Notified Amount ₹20,000 crore ₹10,000 crore II. Underwriting Notified Amount ₹20,000 crore ₹10,000 crore III. Competitive Bids Received (i) Number 376 285 (ii) Amount ₹63,819.000 crore ₹30,109.211 crore

7.10% GS 2034 7.09% GS 2054 I. Notified Amount ₹20,000 crore ₹10,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 101.58/6.8711% 100.78/7.0266% III. Amount accepted in the auction ₹20,000 crore ₹10,000 crore IV. Devolvement on Primary Dealers NIL NIL

Tenor 7-day Notified Amount (in ₹ crore) 1,00,000 Total amount of offers received (in ₹ crore) 4,000 Amount accepted (in ₹ crore) 4,000 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

In the underwriting auctions conducted on August 30, 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:

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 533,456.54 6.62 2.00-7.00 I. Call Money 11,870.75 6.66 5.10-7.00 II. Triparty Repo 359,165.55 6.63 6.48-6.80 III. Market Repo 161,382.24 6.60 2.00-7.00 IV. Repo in Corporate Bond 1,038.00 6.70 6.65-6.90

    It has come to the notice of the Reserve Bank of India that unscrupulous elements are using various methods to defraud members of the public by using the name of RBI in some capacity. A brief on various modus operandi employed by such fraudsters is as below

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 30, 2024, Friday, as under:

The Reserve Bank of India has been regularly conducting Inflation Expectations Survey of Households (IESH). The September 2024 round of the survey is being launched. The survey aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities, viz., Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram. The survey seeks qualitative responses from households on price changes (general prices as well as prices of specific product groups) in the three months ahead as well as in the one year ahead period and quantitative responses on current, three months ahead and one year ahead inflation rates. The results of this survey provide useful inputs for monetary policy.

The Reserve Bank of India has been regularly conducting Consumer Confidence Survey (CCS). The September 2024 round of the survey is being launched. The survey seeks qualitative responses from households, regarding their sentiments on general economic situation, employment scenario, price level, households’ income and spending. The survey is conducted regularly in 19 cities, viz., Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram. The results of this survey provide useful inputs for monetary policy.

The Reserve Bank of India (RBI) has, by an order dated August 23, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on the Uttarkashi Zila Sahkari Bank Ltd., Uttarkashi (the bank) for contravention of the provisions of section 20(1) and section 26A(2) read with section 56 of the Banking Regulation Act, 1949 (BR Act). 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 BR Act.

The Reserve Bank of India (RBI) has, by an order dated August 23, 2024, imposed a monetary penalty of ₹8.00 lakh (Rupees Eight lakh Only) on the Mahoba Urban Co-operative Bank Ltd., Mahoba, Uttar Pradesh (the bank) for contravention of the provisions of section 26A(2) read with section 56 of the Banking Regulation Act, 1949 (BR Act), non-compliance with directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ and ‘Exposure Norms and Statutory / Other Restrictions – UCBs’. 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 BR Act.

The Reserve Bank of India (RBI) has, by an order dated August 23, 2024, imposed a monetary penalty of ₹3.00 Lakh (Rupees Three Lakh only) on the U. P. Postal Primary Co-operative Bank Ltd., Lucknow (the bank) for non-compliance with the specific directions issued by RBI under Supervisory Action Framework (SAF). 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 BR Act.