Press Releases

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹17,071 Crore (Face Value). Sr. No. State/UT Amount to be raised (₹ Crore) Additional Borrowing (Greenshoe) Option (₹ Crore) Tenure (Year) Type of Auction 1 Andhra Pradesh 1000 - 11 Yield 1000 - 20 Yield 2 Haryana 1500 - 12 Yield 3 Jammu and Kashmir 500 - 30 Yield

The forty ninth meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during June 5 to 7, 2024. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Honorary Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai; Prof. Jayanth R. Varma, Professor, Indian Institute of Management, Ahmedabad; Dr. Rajiv Ranjan, Executive Director (the officer of the Reserve Bank nominated by the Central Board under Section 45ZB(2)(c) of the Reserve Bank of India Act, 1934); Dr. Michael Debabrata Patra, Deputy Governor in charge of monetary policy – and was chaired by Shri Shaktikanta Das, Governor. 

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Jun. 16 Jun. 7 Jun. 14 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 7480 28204 7994 -20209 514 * Data are provisional; difference, if any, is due to rounding off.  

Auction Results 7.04% GS 2029 7.46% GS 2073 I. Notified Amount ₹12,000 Crore ₹11,000 Crore II. Underwriting Notified Amount ₹12,000 Crore ₹11,000 Crore III. Competitive Bids Received  (i)  Number 260 277 (ii) Amount ₹42442.840 Crore ₹33702.000 Crore IV. Cut-off price / Yield 100.20 105.29 (YTM: 6.9899%) (YTM: 7.0724%) V. Competitive Bids Accepted  (i)  Number 51 15

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 547,815.36 6.55 5.10-7.05 I. Call Money 12,345.52 6.64 5.10-6.80 II. Triparty Repo 371,042.30 6.53 6.40-6.79 III. Market Repo 163,797.54 6.59 5.58-6.85 IV. Repo in Corporate Bond 630.00 6.77 6.75-7.05

The Reserve Bank of India has launched the 2023-24 round of its Survey on International Trade in Banking Services (ITBS). The survey, conducted annually since 2006-07, provides information on financial services rendered by branches/subsidiaries/joint ventures of Indian banks operating abroad and branches/subsidiaries of foreign banks operating in India, based on explicit / implicit fees / commission charged to customers. The survey schedule for the 2023-24 round is required to be filled in by the banks for branches/subsidiaries/joint venture of Indian banks operating abroad and branches/subsidiaries of foreign banks operating in India. The soft form of this survey schedule (both in Hindi and English – one of which can be used) is available on the RBI website under the head ‘Regulatory Reporting’-→ ‘List of Returns’-→ ‘ITBS – Survey Schedule’ [or under the head ‘Forms’ (available under the ‘More Links’ at the bottom of the home page) and sub-head ‘Survey’]. Duly filled-in schedule can be emailed by July 31, 2024.

7.04% GS 2029 7.46% GS 2073 I. Notified Amount ₹12,000 crore ₹11,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 100.20/6.9899% 105.29/7.0724% III. Amount accepted in the auction ₹12,000 crore ₹11,000 crore IV. Devolvement on Primary Dealers NIL NIL

The Reserve Bank of India (RBI) today held a Conference of Directors on the Boards of select large Urban Cooperative Banks (UCBs) in Western Zone. The Governor, RBI inaugurated the Conference on the theme ‘Governance in UCBs - Driving Sustainable Growth and Stability’. Deputy Governor Shri Swaminathan J., along with Executive Directors representing the RBI’s Departments of Supervision, Regulation and Enforcement, and other senior officials, also participated in the Conference. Reserve Bank had previously held similar conferences with the Directors of UCBs at Mumbai, Hyderabad and Lucknow in August 2023, January 2024 and April 2024, respectively.

Tenor 6-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 1,64,040 Amount allotted (in ₹ crore) 1,00,005 Cut off Rate (%) 6.60 Weighted Average Rate (%) 6.62 Partial Allotment Percentage of bids received at cut off rate (%) 18.78

In the underwriting auctions conducted on June 21, 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 0.08 7.46% GS 2073 11,000 5,502 5,498 11,000 0.12 Auction for the sale of securities will be held on June 21, 2024.

The uniform resource locator (URL) domain address of the ‘Database on Indian Economy (DBIE)’ portal of the Reserve Bank is being changed to https://data.rbi.org.in with effect from close of business today (June 21, 2024). The current URLs, viz., https://dbie.rbi.org.in and https://cimsdbie.rbi.org.in will also get directed to the new URL https://data.rbi.org.in.

On a review of current and evolving liquidity conditions, the Reserve Bank of India has decided to conduct a Variable Rate Repo (VRR) auction on June 21, 2024, Friday, as under:

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on June 21, 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) 565,210.64 6.53 3.00-6.80 I. Call Money 11,578.75 6.65 5.10-6.75 II. Triparty Repo 383,926.80 6.50 6.30-6.74 III. Market Repo 169,075.09 6.59 3.00-6.80 IV. Repo in Corporate Bond 630.00 6.78 6.75-6.80

Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹25,000 crore (face value). The security-wise details of the conversion/switch are given as under:

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹ 4000 Crore ₹ 4000 Crore ₹ 4000 Crore II. Competitive Bids Received (i) Number 77 124 117 (ii) Amount ₹ 24062.485 Crore ₹ 23845.900 Crore ₹ 21510.945 Crore III. Cut-off price / Yield 98.3293 96.6459 93.4921 (YTM: 6.8150%) (YTM: 6.9601%) (YTM: 6.9800%) IV. Competitive Bids Accepted (i) Number 13 9 10 (ii) Amount ₹ 3938.672 Crore ₹ 3907.170 Crore ₹ 3981.472 Crore

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 98.3293 (YTM: 6.8150%) 96.6459 (YTM: 6.9601%) 93.4921 (YTM: 6.9800%) 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 June 14, 2024.

The Reserve Bank of India (RBI), vide order dated June 19, 2024, has cancelled the licence of “The City Co-operative Bank Ltd., Mumbai, Maharashtra.” Consequently, the bank ceases to carry on banking business, with effect from the close of business on June 19, 2024. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

The Reserve Bank had issued ‘Omnibus Framework for recognition of Self-Regulatory Organisations for Regulated Entities of the Reserve Bank’ dated March 21, 2024, wherein broad parameters, viz., objectives, responsibilities, eligibility criteria, governance standards, application process, etc., were specified. It was also stated that other sector-specific guidelines like number of SROs, membership, etc., shall be issued separately whenever a sectoral SRO is intended to be set up.