Press Releases

7.10% GS 2034 7.34% GS 2064 I. Notified Amount ₹20,000 crore ₹11,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 101.44/6.8915% 103.45/7.0782% III. Amount accepted in the auction ₹20,000 crore ₹11,000 crore IV. Devolvement on Primary Dealers NIL NIL

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 09, 2024, Friday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 75,000 3 12:30 PM to 1:00 PM August 12, 2024 (Monday) 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 14-day Notified Amount (in ₹ crore) 1,00,000 Total amount of offers received (in ₹ crore) 14,954 Amount accepted (in ₹ crore) 14,954 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka vide Directive DOS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020, for a period of six months up to July 10, 2020, as modified from time to time, which were last extended up to the close of business on August 10, 2024 vide Directive DOR.MON/D-11/12.23.283/2024-25 dated May 06, 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 August 10, 2024.

In the underwriting auctions conducted on August 09, 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) 509,563.49 6.66 5.00-7.25 I. Call Money 10,344.59 6.65 5.10-6.80 II. Triparty Repo 336,076.90 6.65 6.56-6.88 III. Market Repo 161,997.00 6.68 5.00-7.25 IV. Repo in Corporate Bond 1,145.00 6.85 6.81-6.90

The Reserve Bank of India (RBI) has, by an order dated August 05, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on Suvarnayug Sahakari Bank Ltd., Pune, for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India today released on its website the results of the following Surveys:  i) Consumer Confidence Survey (CCS) – July 2024 ii) Inflation Expectations Survey of Households (IESH) – July 2024 iii) OBICUS Survey on manufacturing sector – Q4:2023-24 iv) Industrial Outlook Survey of the Manufacturing Sector for Q1:2024-25 v) Survey of Professional Forecasters on Macroeconomic Indicators – Round[1] 89th vi) Bank Lending Survey for Q1:2024-25 vii) Services and Infrastructure Outlook Survey for Q1:2024-25  The Survey results are based on the feedback received from the respondents to the Surveys and do not necessarily reflect the views of the Reserve Bank of India.

The Reserve Bank of India (RBI) has, by an order dated August 05, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on Nidhi Co-operative Bank Ltd., 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’. 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.

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 09, 2024, Friday, as under:  Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,00,000 14 10:30 AM to 11:00 AM August 23, 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. Ajit Prasad Deputy General Manager (Communications) Press Release: 2024-2025/855