Press Releases

I. Summary Results  Aggregate amount (Face Value) notified by RBI ₹ 40,000.000 crore Total amount offered (Face Value) by participants ₹ 10,989.096 crore Total amount accepted (Face Value) by RBI ₹ 5,111.290 crore  II. Details of Each Security  Security 7.35% GS 2024 8.40% GS 2024 FRB 2024 9.15% GS 2024 No. of offers received 7 2 8 4 Total amount (Face Value) offered (₹ Crore) 2,349.113 1,510.000 5,860.806 1,269.177 No of offers accepted 4 2 4 2 Total amount (Face Value) accepted by RBI (₹ Crore) 1,816.113 1,510.000 535.000 1,250.177

To encourage self-regulation in the FinTech sector, the Reserve Bank of India (RBI) had released a 'Draft framework for recognising Self-Regulatory Organisations (SRO) for FinTech Sector' on January 15, 2024, inviting comments and feedback from the stakeholders. Based on the inputs received and examination thereof, the 'Framework for Recognising Self-Regulatory Organisation(s) for FinTech Sector' (SRO-FT framework) has been finalised and is enclosed.

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auctions to be held on May 31, 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:

Today, the Reserve Bank of India released its Annual Report for 2023-24, a statutory report of its Central Board of Directors. The Report covers the working and functions of the Reserve Bank of India for the period April 2023 - March 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 536,424.70 6.42 5.40-7.50 I. Call Money 11,728.59 6.49 5.40-6.60 II. Triparty Repo 357,693.55 6.41 6.30-6.50 III. Market Repo 166,091.56 6.43 6.00-6.75 IV. Repo in Corporate Bond 911.00 6.73 6.65-7.50

The Reserve Bank of India has imposed a monetary penalty of Rs. 36,38,000/- (Rupees Thirty Six Lakh Thirty Eight Thousand only) on The HSBC Limited in exercise of powers vested in the Reserve Bank under the provisions of Section 11(3) of FEMA, 1999, for violation of Reserve Bank of India’s instructions on reporting requirements under Liberalised Remittance Scheme of FEMA 1999.

The Reserve Bank has today released data on Reserve Money for the week ended May 24, 2024 and Money Supply for the fortnight ended May 17, 2024.

The Reserve Bank of India has today, in exercise of its powers under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) and the Reserve Bank of India Act, 1934 imposed business restrictions on the following supervised entities respectively, belonging to the Edelweiss Group. The Reserve Bank has directed: (i) ECL Finance Ltd (ECL) to cease and desist, with immediate effect, from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/ or closure of accounts in its normal course of business. (ii) Edelweiss Asset Reconstruction Company Limited (EARCL) to cease and desist from acquisition of financial assets including security receipts (SRs) and reorganising the existing SRs into senior and subordinate tranches.

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹4000 Crore ₹4000 Crore ₹4000 Crore II. Competitive Bids Received (i) Number 65 106 101 (ii) Amount ₹ 14436.030 Crore ₹ 15743 Crore ₹ 13643.350 Crore III. Cut-off price / Yield 98.3214 96.6236 93.4430 (YTM:6.8478%) (YTM:7.0080%) (YTM:7.0364%) IV. Competitive Bids Accepted (i) Number 8 15 40 (ii) Amount ₹ 3970.741 Crore ₹ 3966.484 Crore ₹ 3978.704 Crore V. Partial Allotment Percentage of Competitive Bids 84.65% 59.46% 18.54% (2 Bids) (1 Bid) (1 Bid) VI. Weighted Average Price/Yield 98.3228 96.6519 93.4500 (WAY: 6.8420%) (WAY: 6.9472%) (WAY: 7.0284%) VII. Non-Competitive Bids Received (i) Number 5 6 3 (ii) Amount ₹ 1529.259 Crore ₹ 1033.516 Crore ₹ 32.196 Crore VIII. Non-Competitive Bids Accepted   (i)  Number 5 6 3 (ii) Amount ₹ 1529.259 Crore ₹ 1033.516 Crore ₹ 32.196 Crore (iii) Partial Allotment Percentage - - -

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 98.3214 (YTM:6.8478%) 96.6236 (YTM:7.0080%) 93.4430 (YTM:7.0364%) IV. Total Face Value Accepted   ₹4,000 Crore   ₹4,000 Crore   ₹4,000 Crore

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 5,48,045.14    6.43    5.00-7.50 I. Call Money 11,377.24    6.49    5.40-6.60 II. Triparty Repo 3,66,219.10    6.42    6.27-6.60 III. Market Repo 1,69,537.80    6.44    5.00-6.75 IV. Repo in Corporate Bond 911.00    6.74    6.65-7.50 

Shri Shaktikanta Das, Governor, Reserve Bank of India today launched three major initiatives of the Reserve Bank of India, namely the PRAVAAH portal, the Retail Direct Mobile App and a FinTech Repository in the presence of Shri Satish Kashinath Marathe, Prof. Sachin Chaturvedi, Directors on the Central Board of the Reserve Bank; Prof. H. Krishnamurthy, member of Board, Reserve Bank Innovation Hub (RBIH); Dr. M D Patra, Shri M Rajeshwar Rao, Shri T Rabi Sankar, Shri Swaminathan J, Deputy Governors of the Reserve Bank; MD & CEOs of select banks and NBFCs; Chief Executive, IBA ; MD/CEOs of Clearing Corporation of India Limited (CCIL), Reserve Bank Information Technology Ltd. (ReBIT), Indian Financial Technology and Allied Services (IFTAS) and RBIH; representatives of Fintechs and other senior officials of the Reserve Bank.

The result of the auction of State Government Securities held on May 28, 2024 is as under: (Amount in ₹Crore)  ANDHRA PRADESH 2048 ANDHRA PRADESH 2049 ASSAM 2034 JAMMU AND KASHMIR UT 2054 Notified Amount 1000 1000 1000 1000 Tenure 24 25 10 30 Competitive Bids Received   (i) No. 21 16 70 8 (ii) Amount 2515 2915 2740.25 1820 Cut off Yield (%) 7.34 7.34 7.37 7.34 Competitive Bids Accepted   (i) No. 5 6 10 3 (ii) Amount 999.891 999.938 959.598 999.928 Partial Allotment Percentage of Competitive Bids   (i) Percentage 89.84 45.69 70.93 66.66

Sr. No. State / UT Amount to be raised (₹Crore) Amount Accepted (₹ Crore) Cut off Yield (%) Tenure (Year) 1 Andhra Pradesh 1000 1000 7.34 24 1000 1000 7.34 25 2 Assam 1000 1000 7.37 10 3 Jammu and Kashmir 1000 1000 7.34 30 4 Kerala 2000 2000 7.36 12 1500 1500 7.34 31 5 Mizoram 200 200 7.37 15 6 Punjab 1500 1500 7.37 12 7 Rajasthan 1500 1500 7.37 10 1000 1000 7.36 13 1000 1000 7.37 15 1500 1500 7.34 21 8 Tamil Nadu 1000 1000 7.34 05 2000 2000 7.38 09 2000 2000 7.38 10 9 West Bengal 2000 2000 7.37 16 Total 21,200 21,200

The Reserve Bank of India, vide Directive:LKO.DoS.SED.No.S-381/10.12.359/2023-24 dated August 28, 2023 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the Purvanchal Co-operative Bank Ltd., Ghazipur (U.P) under Directions from the close of business on August 29, 2023. The validity of these Directions was extended time-to-time, last being up to May 29, 2024.

MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 547,791.21 6.58 3.55-7.60 I. Call Money 13,623.47 6.68 4.75-6.77 II. Triparty Repo 372,777.25 6.56 6.00-6.70 III. Market Repo 160,484.49 6.62 3.55-6.75 IV. Repo in Corporate Bond 906.00 6.89 6.80-7.60

The Reserve Bank of India had issued Directions to Ajantha Urban Co-operative Bank Maryadit, Aurangabad, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. NGP.DoS.SSM 3.No.S675/15.03.302/2023-2024 dated August 28, 2023, for a period of six months up to the close of business on February 29, 2024, which were last extended up to the close of business on May 29, 2024 vide Directive DOR.MON.D-130/12.22.740/2023-24 dated February 23, 2024.

Government of India (GOI) has announced the sale ( issue / re-issue ) of three dated securities for a notified amount of ₹ 29,000 crore as per the following details:

The Government of India has announced the buyback of its Securities through auction for an aggregate amount of ₹40,000 crore (face value). The following securities will be offered for buyback: Sr. No. Security Date of Maturity 1 7.35% GS 2024 June 22, 2024 2 8.40% GS 2024 July 28, 2024 3 FRB 2024 November 7, 2024 4 9.15% GS 2024 November 14, 2024

The Reserve Bank of India (RBI) has, by an order dated May 21, 2024, imposed a monetary penalty of ₹1.00 crore (Rupees One Crore only) on ICICI Bank Ltd. (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’. This penalty has been imposed in exercise of powers vested in RBI conferred under the provisions of section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.