On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Friday, September 26, 2025, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal

The Reserve Bank of India (RBl) has, by an order dated September 22, 2025, imposed a monetary penalty of ₹2 lakh (Rupees Two Lakh only) on Makarpura Industrial Estate Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’ and ‘Basic Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs)’ read with ‘Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach’.

The Reserve Bank of India (RBI) has, by an order dated September 23, 2025, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on The South Canara District Central Co-operative Bank Ltd, Karnataka (the bank) for non-compliance with certain directions issued by RBI on ‘Housing finance’ read with ‘Enhancement in Individual housing loan limits and credit to Commercial Real Estate - Residential Housing (CRE-RH)’ and contravention of provisions of Section 19 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI 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 September 23, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Guntur District Co-operative Central Bank Limited, Andhra Pradesh (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated September 23, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Tamil Nadu Circle Postal Co-operative Bank Ltd., Tamil Nadu (the bank) for non-compliance with specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated September 23, 2025, imposed a monetary penalty of ₹10 lakh (Rupees Ten Lakh only) on Gayatri Co-operative Urban Bank Ltd., Jagtial, Telangana (the bank) for non-compliance with certain directions issued by RBI on ‘Marketing / Distribution of Mutual Fund / Insurance Products by Urban Cooperative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on September 26, 2025 (Friday). As per the extant scheme of underwriting commitment notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional

The Reserve Bank of India (RBI) has today issued Reserve Bank of India (Authentication Mechanisms for Digital Payment Transactions) Directions, 2025. RBI had issued draft directions on Alternative Authentication Mechanisms for Digital Payment Transactions on July 31, 2024 and draft directions on introduction of Additional Factor of Authentication (AFA) in cross-border Card Not Present (CNP) transactions on February 07, 2025, for stakeholder comments.

Tenor 1-day Notified Amount (in ₹ crore) 1,25,000 Total amount of bids received (in ₹ crore) 69,060 Amount allotted (in ₹ crore) 69,060

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,64,689.51 5.47 4.75-6.50 I. Call Money 16,046.55 5.52 4.75-5.60 II. Triparty Repo 4,40,642.70 5.45 5.16-5.70 III. Market Repo 2,03,860.71 5.49 5.00-5.80 IV. Repo in Corporate Bond 4,139.55 5.71 5.64-6.50

The Reserve Bank of India (RBI) has released Supervisory Data Quality Index (sDQI) for SCBs for June 2025. It measures data quality in terms of the Accuracy, Timeliness, Completeness and Consistency in the submission of returns. The objective of sDQI is to assess the adherence to the principles enunciated in the Master Direction on Filing of Supervisory Returns 2024.

Today, the Reserve Bank released the September 2025 issue of its monthly Bulletin. The Bulletin includes one speech, seven articles and current statistics. The seven articles are: I. State of the Economy; II. Flow of Financial Resources to Commercial Sector in India during 2024-25; III. The Untold Story of FinTech Customers’ Experience; IV. Review of Performance of the NBFC Sector; V. Impact of UPI on Cash Demand – Evidence from National and Subnational Levels; VI. Is Consumption Inequality Declining? – What the 2022-23 NSSO Survey Tells Us; and VII. Infrastructure - An Engine of India’s Growth Express.

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Thursday, September 25, 2025, as under:

The Reserve Bank has today released data on Reserve Money for the week ended September 19, 2025.

(Amount in ₹ crore) Auction Results 91-Day 182-Day 364-Day I. Notified Amount 10,000 6,000 5,000 II. Competitive Bids Received (i) Number 105 97 128 (ii) Amount 44,389.795 23,707.100 26,174.000 III. Cut-off price / Yield 98.6534 97.2941 94.7036 (YTM: 5.4749%) (YTM: 5.5776%) (YTM: 5.6080%) IV. Competitive Bids Accepted (i) Number 13 6 33

I. T-Bill 91-Day 182-Day 364-Day II. Total Face Value Notified ₹10,000 Crore ₹6,000 Crore ₹5,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.6534 (YTM:5.4749%) 97.2941 (YTM: 5.5776%) 94.7036 (YTM: 5.6080%)

The Reserve Bank of India has signed its renewed Statement of Commitment (SoC) to the FX Global Code (“Code”). The Code is a set of global principles of good practice in the FX market developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market. It was developed by a partnership between central banks and market participants from around the globe and was first published in 2017.

Tenor 1-day Notified Amount (in ₹ crore) 1,50,000 Total amount of bids received (in ₹ crore) 48,980 Amount allotted (in ₹ crore) 48,980 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) NA

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,57,845.66 5.47 4.75-6.55 I. Call Money 18,374.64 5.59 4.75-5.70 II. Triparty Repo 4,35,985.50 5.41 5.00-5.58 III. Market Repo 1,99,774.52 5.57 5.00-5.75 IV. Repo in Corporate Bond 3,711.00 5.77 5.70-6.55 B. Term Segment

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Wednesday, September

The result of the auction of State Government Securities held on September 23, 2025, is as under: (Amount in ₹ Crore) BIHAR SGS 2045 BIHAR SGS 2050 CHHATTISGARH SGS 2029 GUJARAT SGS 2032 Notified Amount 2000 2000 500 1500 Tenor 20 -Years 25 -Years Re-issue of 7.0% CHHATTISGARH SGS 2029 issued on 19-SEP-2024 7 -Years

The Reserve Bank had issued a press release dated December 01, 2022, on Voluntary Surrender of Certificate of Registration (CoR) by NBFCs (including HFCs) for cancellation enclosing application form and indicative checklist. The Reserve Bank has since launched the PRAVAAH portal on May 28, 2024, to make it convenient for any individual or entity to apply online for various regulatory approvals and clearances in a seamless manner. As the application for voluntary surrender of CoR for cancellation is available in the said portal, the applicant NBFC (including HFCs) may upload the application form along with the documents complete in all respects as indicated in the checklist.

Sr. No. State Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹)/ Yield (%) Tenor (Year) 1. Bihar 2000 2000 7.45 20 2000 2000 7.45 25 2. Chhattisgarh 500 500 101.14/6.6691 Re-issue of 7.00% Chhattisgarh SGS 2029, issued on September 19, 2024 3. Gujarat 1500 1500 7.07 07 4. Kerala 1000 1000 7.44 25 5. Madhya Pradesh 1500 1500 7.43 18 1500 1500 7.44 21 6. Maharashtra* 1000 1000 7.27 11 1000 - - Re-issue of 7.14% Maharashtra SGS 2045, issued on July 09, 2025 1000 - - Re-issue of 7.15% Maharashtra SGS 2046, issued on July 02, 2025

Tenor 1-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 40,510 Amount allotted (in ₹ crore) 40,510

Tenor 1-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 1,67,994 Amount allotted (in ₹ crore) 1,00,006 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.52 Partial Allotment Percentage of bids received at cut off rate (%) 8.66

On a review of current and evolving liquidity conditions, it has been decided to conduct a second Variable Rate Repo (VRR) auction on Tuesday, September 23, 2025, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,00,000 1 10:45 AM to 11:15 AM September 24, 2025 (Wednesday) 2. The operational guidelines for the auction will be same as given in Reserve Bank’s Press Release 2021-2022/1572 dated January 20, 2022.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,65,112.91 5.54 4.00-6.60 I. Call Money 20,614.94 5.58 4.75-5.80 II. Triparty Repo 4,41,189.35 5.54 5.40-6.09 III. Market Repo 1,99,397.07 5.53 4.00-5.90 IV. Repo in Corporate Bond 3,911.55 5.72 5.64-6.60

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Tuesday, September 23, 2025, as under:

Government of India (GoI) has announced the sale (re-issue) of two dated securities for a notified amount of ₹32,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 6.68% GS 2040 Jul 07, 2040 16,000 F.No.4(1)-B(W&M)/2025 dated September 22, 2025 September 26, 2025 (Friday) September 29, 2025 (Monday) 2 6.90% GS 2065 Apr 15, 2065 16,000 Total 32,000

In exercise of the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank has cancelled the Certificate of Registration (CoR) issued to the following Non-Banking Financial Company (NBFC): Name/ details of the NBFC Name of the service provider (mobile app) Datta Finance and Trading Private Limited Registered Office Address: K-1/82 Chittaranjan Park, South Delhi, New Delhi, Delhi, India, 110019 CoR No.: B-14.01007 dated March 29, 2000 1. KinCash app & DoLoan app - Zest Top One Technology Private Limited 2. ZestCash app – the company’s in-house app

MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 0.00 - - I. Call Money 0.00 - - II. Triparty Repo 0.00 - - III. Market Repo 0.00 - - IV. Repo in Corporate Bond 0.00 - - B. Term Segment I. Notice Money** 0.00 - - II. Term Money@@ 0.00 - - III. Triparty Repo 0.00 - - IV. Market Repo 0.00 - - V. Repo in Corporate Bond 0.00 - -

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 10,892.67 5.33 4.25-5.90 I. Call Money 2,206.55 5.37 4.75-5.50 II. Triparty Repo 8,555.10 5.33 4.90-5.90 III. Market Repo 131.02 4.72 4.25-5.40 IV. Repo in Corporate Bond 0.00 - - B. Term Segment

Tenor 1-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 21,151 Amount allotted (in ₹ crore) 21,151 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) NA

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 9,381.99 5.47 4.25-6.50 I. Call Money 884.15 5.06 4.75-5.24 II. Triparty Repo 2,885.05 5.26 5.00-6.00 III. Market Repo 2,037.24 5.50 4.25-5.58 IV. Repo in Corporate Bond 3,575.55 5.72 5.60-6.50 B. Term Segment I. Notice Money** 17,241.12 5.53 4.85-5.60

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Monday, September 22, 2025, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,00,000 1 9:30 AM to 10:00 AM September 23, 2025 (Tuesday)

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹27,000 Crore (Face Value).

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak vide Directive No. CO.DOS.SED.No.S4800/12-23-151/2024-2025 dated September 26, 2024, for a period of six months up to close of business on March 27, 2025 as modified from time to time, which were extended upto June 27, 2025 vide Directive No. DOR.MON/D-110/12.23.151/2024-25 dated March 25, 2025 and further extended upto September 27, 2025 vide Directive No. DOR.MON/D-16/12.23.151/2025-26 dated June 24, 2025. 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 close of business on September 27, 2025.

The rate of interest on Government of India Floating Rate Bond 2033 (GOI FRB 2033) applicable for the half year September 22, 2025 to March 21, 2026 shall be 6.82 percent per annum. It may be recalled that FRB 2033 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield (WAY) of last three auctions (from the rate fixing day, i.e., September 22, 2025) of 182 Day T-Bills, plus a fixed spread (1.22 percent).

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2024 2025 Variation Sep. 13 Sep. 05 Sep. 12 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government - 0 0 0 0 4.2 State Governments 29725 44070 29150 -14920 -575 * Data are provisional; difference, if any, is due to rounding off.

(Amount in ₹ Crore) Auction Results 5.91% GS 2028 6.33% GS 2035 I. Notified Amount 6,000 30,000 II. Competitive Bids Received (i) Number 91 440 (ii) Amount 21,741.000 76,262.750 III. Cut-off price / Yield 100.04 98.65 (YTM: 5.8899%) (YTM: 6.5198%) IV. Competitive Bids Accepted (i) Number 6 161 (ii) Amount 5,999.207 29,927.627

5.91% GS 2028 6.33% GS 2035 I. Notified Amount ₹6,000 crore ₹30,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 100.04/5.8899% 98.65/6.5198% III. Amount accepted in the auction ₹6,000 crore ₹30,000 crore IV. Devolvement on Primary Dealers NIL NIL

Tenor 3-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 390 Amount allotted (in ₹ crore) 390 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.52 Partial Allotment Percentage of bids received at cut off rate (%) NA

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Friday, September 19, 2025, as under:

Tenor 6-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 59,967 Amount allotted (in ₹ crore) 59,967 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) NA

In the underwriting auction conducted on September 19, 2025, 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: Nomenclature of the Security Notified Amount (₹ crore)    Minimum Underwriting Commitment (MUC) Amount (₹ crore)    Additional Competitive Underwriting Amount Accepted (₹ crore)    Total Amount underwritten (₹ crore)    ACU Commission Cut-off rate (Paise per ₹100) 5.91% GS 2028    6,000    3,003    2,997    6,000    0.18 6.33% GS 2035    30,000    15,015    14,985    30,000    0.40

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,60,114.69 5.50 4.75-6.60 I. Call Money 21,491.40 5.55 4.75-5.65 II. Triparty Repo 4,34,546.35 5.48 5.11-5.56 III. Market Repo 2,00,481.39 5.54 5.00-5.80 IV. Repo in Corporate Bond 3,595.55 5.77 5.70-6.60

The 35th Conference of the State Finance Secretaries was held in Mumbai on September 18, 2025. The theme of the Conference was ‘Journey towards Economic Prosperity through the Path of Fiscal Consolidation’ and was attended by Secretary, Department of Expenditure, Ministry of Finance, Government of India; the Finance Secretaries of 28 States and two Union Territories; and other officials from the Ministry of Finance, Government of India; Controller General of Accounts and the Comptroller and Auditor General of India. Governor, Reserve Bank of India inaugurated the Conference.

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Friday, September 19, 2025, as under:

The Reserve Bank of India (RBl) has imposed, by an order dated September 15, 2025, a monetary penalty of ₹3.50 lakh (Rupees Three Lakh Fifty Thousand only) on The Jalgaon District Central Co-operative Bank Ltd., Maharashtra (the bank) for contravention of provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) and Section 56 of the BR Act.

The Reserve Bank of India (RBl) has imposed, by an order dated September 15, 2025, a monetary penalty of ₹4.50 lakh (Rupees Four Lakh Fifty Thousand only) on Chandrapur District Central Co-operative Bank Ltd., Maharashtra (the bank) for contravention of provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance

The Reserve Bank of India (RBl) has, by an order dated September 15, 2025, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on Yavatmal District Central Co-operative Bank Ltd.,

The Reserve Bank of India (RBI) has, by an order dated September 17, 2025, imposed a monetary penalty of ₹23,000/- (Rupees Twenty Three Thousand only) on The Ahmedabad Mercantile Co-operative Bank Limited, Ahmedabad (the bank) for non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies by Co-operative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 25(1)(iii) read with Section 23(4) of the Credit Information Companies (Regulation) Act, 2005.

The Reserve Bank of India (RBI) has, by an order dated September 17, 2025, imposed a monetary penalty of ₹3.75 lakh (Rupees Three lakh seventy five thousand only) on Bharat Co-operative Bank (Mumbai) Limited (the bank), for non-compliance with certain directions issued by RBI on ‘Reporting of Unusual Cyber Security Incidents’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB) and Rupee Denominated Bonds (RDB) both, through Automatic Route and Approval Route, for the month of July 2025.

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on September 19, 2025 (Friday). As per the extant scheme of underwriting commitment notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) auction, applicable to each Primary Dealer (PD), are as under:

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS 06-Sep-2024 22-Aug-2025* 05-Sep-2025* 06-Sep-2024 22-Aug-2025* 05-Sep-2025* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from banks 298116.19 346928.84 322142.98 302401.77 354508.87 329710.26** b) Borrowings from banks 128865.30 100383.06 96816.68 129153.89 100411.43 96885.30 c) Other demand & time liabilities 23518.75 24498.34 28046.56 23846.90 25023.28 28547.67 II LIABILITIES TO OTHERS (A) a) Deposits (other than from banks) 21550315.52 23504534.61 23669753.44 22002066.95 23999553.75 24165517.81 i) Demand 2457243.56 2889394.78 2892106.55 2505648.23 2939197.45 2943330.22 ii) Time 19093071.95 20615139.83 20777646.89 19496418.71 21060356.30 21222187.60 b) Borrowings @ 843672.46 862408.87 816469.05 847826.98 866787.67 820798.87 c) Other demand & time liabilities 1052347.33 1033325.08 1115663.05 1066192.83 1047572.60 1131645.50 III BORROWINGS FROM R.B.I. (B) 7740.00 1818.00 3936.00 7740.00 1818.00 3936.00

Tenor 1-day Notified Amount (in ₹ crore) 25,000 Total amount of bids received (in ₹ crore) 45,783 Amount allotted (in ₹ crore) 25,006

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Thursday, September 18, 2025, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 25,000 1 10:15 AM to 10:45 AM September 19, 2025 (Friday) 2. The operational guidelines for the auction will be same as given in Reserve Bank’s

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,62,665.77 5.45 3.00-6.55 I. Call Money 22,370.32 5.47 4.75-5.65 II. Triparty Repo 4,37,538.75 5.44 5.20-5.75 III. Market Repo 1,99,471.15 5.45 3.00-5.75 IV. Repo in Corporate Bond 3,285.55 5.66 5.55-6.55 B. Term Segment I. Notice Money** 349.30 5.36 5.00-5.45

The Reserve Bank has today released data on Reserve Money for the week ended September 12, 2025 and Money Supply for the fortnight ended September 05, 2025.

In continuation of the Framework for Formulation of Regulations , the Reserve Bank of India has decided to strengthen the institutional mechanism for review of regulations and has constituted a Regulatory Review Cell (RRC). 2. The mandate of the RRC is to ensure that all the regulations issued by the Bank are subject to a comprehensive and systematic internal review every 5 to 7 years. The RRC shall be set up in the Department of Regulation effect from October 1, 2025 and would undertake the review of regulations in a phased manner.

Auction Results 91-Day 182-Day 364-Day I. Notified Amount 10,000 6,000 5,000 II. Competitive Bids Received (i) Number 133 69 93 (ii) Amount 29,662.850 20,776.150 20,900.700

I. T-Bill 91-Day 182-Day 364-Day II. Total Face Value Notified ₹10,000 Crore ₹6,000 Crore ₹5,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.6479 (YTM:5.4976%) 97.2814 (YTM: 5.6045%) 94.6795 (YTM: 5.6349%) IV. Total Face Value Accepted ₹10,000 Crore ₹6,000 Crore ₹5,000 Crore

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,70,225.22 5.39 3.00-6.50 I. Call Money 20,599.74 5.43 4.75-5.50 II. Triparty Repo 4,50,372.45 5.37 5.24-5.45 III. Market Repo 1,95,710.63 5.41 3.00-6.00 IV. Repo in Corporate Bond 3,542.40 5.64 5.55-6.50 B. Term Segment I. Notice Money** 253.45 5.34 4.90-5.45

In terms of GOI notification F.No. 4(7)-B(W&M)/2019 dated May 30, 2019 (SGB 2019-20 Series-IV-Issue date September 17, 2019) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the next due date of premature redemption of the above tranche shall be on September 17, 2025.

The result of the auction of State Government Securities held on September 16, 2025, is as under: (Amount in ₹ Crore) ASSAM SGS 2045 GOA SGS 2035 HARYANA SGS 2039 HARYANA SGS 2042 Notified Amount 1500 100 1000 1000

Sr. No. State/UT Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹)/ Yield (%) Tenor (Year) 1. Assam 1500 1500 7.47 20 2. Goa 100 100 7.39 10 3. Haryana 1000 1000 7.43 14 1000 1000 7.45 17 4. Jammu and Kashmir 400 400 7.47 15 5. Jharkhand 1000 1000 7.33 09 1000 1000 7.44 16 6. Maharashtra 1000 1000 100.04/6.7278 Re-issue of 6.74% Maharashtra SGS 2029, issued on September 10, 2025

Tenor 3-day Notified Amount (in ₹ crore) 75,000 Total amount of bids received (in ₹ crore) 585 Amount allotted (in ₹ crore) 585 Cut off Rate (%) 5.51 Weighted Average Rate (%) 5.51 Partial Allotment Percentage of bids received at cut off rate (%) NA

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,18,104.95 5.34 2.00-5.75 I. Call Money 20,167.60 5.44 4.75-5.55 II. Triparty Repo 3,92,079.40 5.32 5.10-5.39 III. Market Repo 2,02,330.45 5.38 2.00-5.65 IV. Repo in Corporate Bond 3,527.50 5.51 5.50-5.75 B. Term Segment I. Notice Money** 412.05 5.36 5.00-5.50 II. Term Money@@ 1,269.00 - 5.50-5.85

Reserve Bank of India (RBI) has today issued Reserve Bank of India (Regulation of Payment Aggregators) Directions, 2025. RBI had issued draft directions on regulation of Payment Aggregators on April 16, 2024, for stakeholder comments. The draft directions proposed a framework for regulation of Payment Aggregators (PAs) that handle proximity / face-to-face payments. It also proposed certain changes to the extant directions to PAs. As part of the stakeholder consultation exercise, inputs were received from PAs, banks, other payment system providers, industry associations, law firms, individuals, etc. The inputs received were examined and suitably incorporated in the Directions.

Government of India (GoI) has announced the sale (re-issue) of two dated securities for a notified amount of ₹36,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 5.91% GS 2028 Jun 30, 2028 6,000 F.No.4(1)-B(W&M)/2025 dated September 15, 2025 September 19, 2025 (Friday) September 22, 2025 (Monday) 2 6.33% GS 2035 May 05, 2035 30,000 Total 36,000

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Tuesday, September 16, 2025, as under:

A. Source Security 7.33% GS 2026 5.74% GS 2026 8.15% GS 2026 7.17% GS 2028 B. Notified Amount (in ₹ crore) 3,000 2,000 4,000 4,000 Destination Security 6.19% GS 2034 6.57% GS 2033 6.57% GS 2033 8.33% GS 2036 C. i. No. of offers received 10 9 14 40 ii. Total amount of Source Security offered (Face value, in ₹ crore) 1,699.000 2,163.311 5,403.451 13,805.000

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 0.00    -    - I. Call Money 0.00    -    - II. Triparty Repo 0.00    -    - III. Market Repo 0.00    -    - IV. Repo in Corporate Bond 0.00    -    -

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 0.00 - - I. Call Money 0.00 - - II. Triparty Repo 0.00 - - III. Market Repo 0.00 - -

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,16,872.15 5.37 4.43-6.45 I. Call Money 19,411.00 5.43 4.75-5.50 II. Triparty Repo 4,00,317.15 5.35 5.25-5.49 III. Market Repo 1,94,710.95 5.39 4.43-5.65 IV. Repo in Corporate Bond 2,433.05 5.59 5.50-6.45

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹18,400 Crore (Face Value). Sr. No. State/ UT Amount to be raised (₹ Crore) Tenor (Year) Type of Auction 1. Assam 1500 20 Yield 2. Goa 100 10 Yield 3. Haryana 1000 14 Yield

The Reserve Bank of India (RBI) has, by an order dated September 10, 2025, imposed a monetary penalty of ₹21 lakh (Rupees Twenty One Lakh only) on PhonePe Limited (formerly known as PhonePe Private Limited) (the company) for non-compliance with certain directions issued by RBI on ‘Prepaid Payment lnstruments (PPIs)’. This penalty has been imposed

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No. Treasury Bill Notified Amount (₹ crore) Auction Date Settlement Date 1 91-Day 10,000 September 17, 2025 (Wednesday) September 18, 2025 (Thursday) 2 182-Day 6,000 3 364-Day 5,000 Total 21,000

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2024 2025 Variation Sep. 06 Aug. 29 Sep. 05 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government - 0 0 0 0 4.2 State Governments 35426 19623 44070 24447 8644 * Data are provisional; difference, if any, is due to rounding off.

The Certificate of Registration issued to the following Non-Banking Financial Companies (NBFC) has been restored after considering the orders passed by the Appellate Authority/Courts. The NBFCs are advised to adhere to the applicable provisions of the RBI Act, 1934, and guidelines/directions issued by the RBI including reporting requirements.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.

The following nine Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

Auction Results 6.01% GS 2030 7.24% GS 2055 I. Notified Amount 15,000 13,000 II. Competitive Bids Received (i) Number 232 330 (ii) Amount 41,028.600 54,217.273

6.01% GS 2030 7.24% GS 2055 I. Notified Amount ₹15,000 crore ₹13,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 98.84/6.2889% 100.04/7.2360% III. Amount accepted in the auction ₹15,000 crore ₹13,000 crore IV. Devolvement on Primary Dealers NIL NIL

Tenor 3-day Notified Amount (in ₹ crore) 1,50,000 Total amount of offers received (in ₹ crore) 1,50,804 Amount accepted (in ₹ crore) 1,50,015 Cut off Rate (%) 5.49

In the underwriting auction conducted on September 12, 2025, 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) 6,42,613.69 5.31 4.75-6.43 I. Call Money 21,901.38 5.35 4.75-5.40 II. Triparty Repo 4,27,106.90 5.30 5.12-5.37 III. Market Repo 1,91,331.86 5.34 5.00-6.00 IV. Repo in Corporate Bond 2,273.55 5.54 5.45-6.43 B. Term Segment I. Notice Money** 259.34 5.24 5.00-5.40 II. Term Money@@ 490.00 - 5.40-5.90 III. Triparty Repo 887.75 5.34 5.00-5.45 IV. Market Repo 1,724.59 5.57 5.40-5.70

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Friday, September 12, 2025, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,50,000 3 9:30 AM to 10:00 AM September 15, 2025 (Monday)

The Reserve Bank of India (RBI) has, by an order dated September 08, 2025, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Sikkim State Co-operative Bank Ltd. (the bank) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBl) has, by an order dated September 08, 2025, imposed a monetary penalty of ₹3 lakh (Rupees Three Lakh only) on Progressive Mercantile Co-operative Bank Limited, Dist. Ahmedabad, Gujarat (the bank) for non-compliance with the certain directions issued by RBI on ‘Inspection & Audit Systems in Primary (Urban) Co- operative Banks’, ‘Know Your Customer’ and ‘Customer Protection - Limiting Liability of Customers of Co-operative Banks in Unauthorized Electronic Banking Transactions’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on September 12, 2025 (Friday).

The Reserve Bank of India, vide directive CO.DOS.SED.No.S8240/12-22-493/2022-2023 dated March 09, 2023, had placed Pune Sahakari Bank Ltd., Shivajinagar, Pune, Maharashtra under Directions from the close of business on March 10, 2023, for a period of six months. The validity of the directions was extended from time-to-time, the last being up to close of business on September 10, 2025.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,40,321.17 5.30 4.75-6.30 I. Call Money 17,269.96 5.34 4.75-5.40 II. Triparty Repo 4,24,339.35 5.29 5.10-5.45 III. Market Repo 1,94,849.31 5.31 5.00-5.70 IV. Repo in Corporate Bond 3,862.55 5.56 5.39-6.30

In terms of GOI notification F. No. 4(7)-B(W&M)/2019 dated September 30, 2019 (SGB 2019-20 Series-X -Issue date March 11, 2020) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the next due date of premature redemption of the above tranche shall be on September 11, 2025.

Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹30,000 crore (face value). The security-wise details of the conversion/switch are given as under:

A microsite https://indiancurrency.rbi.org.in for banknotes has been launched today by the Reserve Bank of India. The microsite provides members of the public, a platform to access information on banknotes such as details of the design and security features through a 360-degree view of the banknotes, multimedia (video, audio and animation), interactive games etc. with simple and efficient navigation. The microsite also has a dedicated section for information on exchange of banknotes. The new microsite replaces the earlier microsite https://paisaboltahai.rbi.org.in.

The Reserve Bank of India has today released the data on Overseas Direct Investment, both under Automatic Route and the Approval Route, for the month of August 2025.