Press Releases

(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  -  -  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)  521,355.24  6.75  0.01-6.85  I. Call Money 9,991.14  6.71  5.00-6.85  II. Triparty Repo 352,042.50  6.75  6.00-6.78  III. Market Repo 159,321.60  6.75  0.01-6.85

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds (SGBs) in tranches as per the calendar specified below:S. No.Tranche Date of Subscription Date of Issuance 1. 2023-24 Series III December 18 – December 22, 2023 December 28, 2023 2.2023-24 Series IV February 12 – February 16, 2024 February 21, 2024

In terms of GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series XI - Issue date December 11, 2017) 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 December 11, 2023.

The Reserve Bank of India, vide directive CO.DOS.SED.No.S8241/12-22-316/2022-2023 dated March 09, 2023, had placed Defence Accounts Cooperative Bank ltd, Pune under Directions from the close of business on March 10, 2023.

2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank from close of business on December 10, 2023 till close of business on March 10, 2024 as per the directive DOR.MON.D-104/12.22.262/2023-24 dated December 07, 2023, subject to review.

The Reserve Bank of India (RBI) has, by an order dated December 04, 2023, imposed a monetary penalty of ₹4.90 lakh (Rupees Four lakh ninety thousand only) on ECL Finance Limited (the company) for non-compliance with certain provisions of the Reserve Bank of India (Know Your Customer (KYC)) Direction, 2016. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of clause (b) of sub-section (1) of section 58G read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) has, by an order dated December 07, 2023, imposed a monetary penalty of ₹10.54 lakh (Rupees Ten lakh fifty four thousand only) on Berar Finance Limited, Nagpur (the company), for non-compliance with certain provisions of the Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58 B of the Reserve Bank of India Act, 1934.

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.

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No. Treasury Bill Notified Amount (in ₹ Crore) Auction Date Settlement Date 1 91 Days 7,000 December 13, 2023 (Wednesday) December 14, 2023 (Thursday) 2 182 Days 8,000 3 364 Days 9,000 Total 24,000

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹12,100 Crore (Face Value).Sr. No.State / UTAmount to be raised(₹ Cr)Additional Borrowing (Greenshoe)Option (₹ Cr)Tenure (Year)Type of Auction

7.32% GS 2030 7.18% GS 2037 7.25% GS 2063 New GOI SGrB 2033 I. Notified Amount ₹12,000 crore ₹10,000 crore ₹12,000 crore ₹5,000 crore II. Cut off Price / Implicit Yield at cut-off 100.20/ 7.2811% 98.37/ 7.3703% 96.80/ 7.5039% 7.24% III. Amount accepted in the auction ₹12,000 crore ₹10,000 crore ₹12,000 crore ₹5,000 crore IV. Devolvement on Primary Dealers NIL NIL NIL NIL Ajit Prasad Director (Communications) Press Release: 2023-2024/1443

Auction Results 7.32% GS 2030 7.18% GS 2037 7.25% GS 2063 New GOI SGrB 2033 I. Notified Amount ₹12000 Crore ₹10000 Crore ₹12000 Crore ₹5000 Crore II. Underwriting Notified Amount ₹12000 Crore ₹10000 Crore ₹12000 Crore ₹5000 Crore III. Competitive Bids Received (i) Number 122 168 252 80

In our monetary policy statement of April 2016, we stated that we would watch macroeconomic and financial developments in the months ahead with a view to responding as space opens up. Incoming data since then show a sharper-than-anticipated upsurge in inflationary pressures emanating from a number of food items (beyond seasonal effects), as well as a reversal in commodity prices. A strong monsoon, continued astute food management, as well as steady expansion in supply

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Dwarakadas Mantri Nagari Sahakari Bank Ltd., Beed, Maharashtra vide Directive DoS.CO.NSUCBs-West/D-4/S3706/12.07.005/2021-22 dated March 09, 2022 for a period of six months up to September 09, 2022, as modified from time to time, which were last extended up to close of business on December 09, 2023 vide Directive DOR.MON/D-69/12.22.613/2023-24 dated September 06, 2023. 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 the close of business on December 09, 2023.

In the underwriting auctions conducted on December 08, 2023 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:

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (October 6, 2023) decided to:

• Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.

The standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.

• The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.

These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.

The main considerations underlying the decision are set out in the statement below.

Assessment

Global Economy

2. Global growth is losing momentum. Inflation is easing gradually but remains well above target in major economies. Concerns about higher for longer rates are imparting volatility to global financial markets. Sovereign bond yields have hardened, the US dollar has appreciated, and equity markets have corrected. Emerging market economies (EMEs) are experiencing currency depreciation and volatile capital flows.

Domestic Economy

3. Real gross domestic product (GDP) posted a growth of 7.8 per cent year-on-year (y-o-y) in Q1:2023-24 (April-June), underpinned by private consumption and investment demand.

4. South-west monsoon rainfall recovered during September and ended 6 per cent below the long period average. The acreage under kharif crops was 0.2 per cent higher than a year ago. The index of industrial production rose by 5.7 per cent in July; core industries output expanded by 12.1 per cent in August. Purchasing managers’ indices (PMIs) and other high frequency indicators of the services sector exhibited healthy expansion in August-September.

5. On the demand front, urban consumption is buoyant while rural demand is showing signs of revival. Investment activity is benefitting from public sector capex. Strong growth is seen in steel consumption, cement production as well as in imports and production of capital goods. Merchandise exports and non-oil non-gold imports remained in contraction in August, although the pace of decline eased. Services exports improved in August.

6. CPI headline inflation surged by 2.6 percentage points to 7.4 per cent in July due to spike in vegetable prices, before moderating somewhat in August to 6.8 per cent. Fuel inflation edged up to 4.3 per cent in August. Core inflation (i.e., CPI excluding food and fuel) softened to 4.9 per cent during July-August 2023.

7. As on September 22, 2023, money supply (M3) expanded by 10.8 per cent (y-o-y) and bank credit grew by 15.3 per cent. India’s foreign exchange reserves stood at US$ 586.9 billion as on September 29, 2023.

December 8, 2023 Statement on Developmental and Regulatory Policies This Statement sets out various developmental and regulatory policy measures relating to (i) Financial Markets; (ii) Regulations; and (iii) Payment Systems and Fintech.

As 2023 comes to an end and a new year begins, the long-awaited normality still eludes the global economy. The years 2020 to 2023 will perhaps go down in history as the period of ‘Great Volatility’, comprising a host of black swan events in quick succession. The global economy is showing signs of slowdown, though unevenly across geographies and sectors. The Emerging Market Economies (EMEs) as a group have remained resilient during the current bout of volatility, unlike previous episodes. While headline inflation has receded from the highs of last year, it remains above target in many countries. Core inflation continues to be sticky, impeding the last mile of disinflation. Major central banks have kept rates on hold while refraining from forward guidance in view of the prevailing uncertainties. Financial markets remain volatile in their quest for definitive signals about the future path of interest rates.

RBI OPERATIONS@ Auction Date Tenor (Days) Maturity Date    Amount Current Rate / Cut off Rate C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) I. Today's Operations 1. Fixed Rate 2. Variable Rate& (I) Main Operation (a) Repo    (b) Reverse Repo

Sikar Urban Co-operative Bank Limited, Sikar, Rajasthan was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months, subject to review, vide Directive dated October 26, 2018. The validity of the directions was last extended vide Directive dated September 07, 2023 for three months up to close of business on December 09, 2023, subject to review.

The Reserve Bank of India, vide Directive LKO.DOS.SED.No.S842/10-12-133/2022-2023 dated February 23, 2023 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the HCBL Co-operative Bank Ltd., Lucknow (U.P.) under Directions from the close of business on February 24, 2023. The validity of these Directions was extended time-to-time, last being up to November 24, 2023.

The Reserve Bank of India today released on its website the results of the following Surveys: i) Consumer Confidence Survey (CCS) – November 2023 ii) Inflation Expectations Survey of Households (IESH) – November 2023 iii) Survey of Professional Forecasters on Macroeconomic Indicators–  Round  85rd 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 November 16, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Rajarshi Shahu Sahakari Bank Ltd., Pune, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts - Primary (Urban) Co-operative 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.

The Reserve Bank of India (RBI) has, by an order dated November 21, 2023 imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Prathamik Shikshak Sahakari Bank Limited, Satara, Maharashtra (the bank) for non-compliance with the directions issued by RBI on ‘Management of Advances-UCBs’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 17, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Patan Co-operative Bank Limited, Mumbai, Maharashtra (the bank) for non-compliance with directions issued by RBI on ‘Reserve Bank of India –Know Your Customer (KYC) Direction, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A (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 November 15, 2023, imposed a monetary penalty of ₹10,000/- (Rupees Ten thousand only) on The District Co-operative Central Bank Ltd., Mahabubnagar, Telangana (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Review of Frauds – Guidelines on Monitoring and Reporting System’ read with ‘Frauds - Guidelines for Classification, Reporting and Monitoring of Frauds’.

Today, the Reserve Bank of India (RBI), vide order dated December 6, 2023, has cancelled the licence of “Urban Co-operative Bank Limited, Sitapur, Uttar Pradesh”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on December 07, 2023. 

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period November 20 – November 24, 2023. Position Date MERCHANT INTER BANK FCY / INR FCY / FCY FCY / INR FCY / FCY Spot Forward Forward Cancel Spot Forward Forward Cancel Spot Swap

Foreign Exchange Turnover Data: November 13 – November 17, 2023  The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period November 13 – November 17, 2023. All Figures are in USD Millions Position Date MERCHANT  INTER BANK

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period November 06 – November 10, 2023. All Figures are in USD Millions Position Date MERCHANT INTER BANK FCY / INR FCY / FCY FCY / INR FCY / FCY Spot  Forward Forward Cancel Spot Forward Forward Cancel Spot Swap Forward Spot Swap Forward Purchase  06-11-2023 3,004

The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period October 30 – November 03, 2023. All Figures are in USD Millions Position Date  MERCHANT  INTER BANK FCY / INR FCY / FCY  FCY / INR  FCY / FCY Spot  Forward Forward Cancel Spot Forward Forward Cancel Spot Swap Forward Spot Swap Forward Purchase  30-10-2023 3,633 1,626 964 342 419 523 10,343 17,961 2,493 5,499 2,160 321 31-10-2023 3,575 2,330  718 301

December 07, 2023   Foreign Exchange Turnover Data: October 23 – October 27, 2023  The Reserve Bank of India today released the data showing daily merchant and Inter-Bank transactions in foreign exchange for the period October 23 – October 27, 2023.   All Figures are in USD Millions     Position  Date  MERCHANT  INTER BANK  FCY / INR  FCY / FCY  FCY / INR  FCY / FCY   Spot  Forward  Forward  Cancel  Spot  Forward  Forward  Cancel  Spot  Swap  Forward  Spot  Swap  Forward

Government of India has announced the sale (issue/re-issue) of Government Securities, as detailed below, through auctions to be held on December 08, 2023.

RBI OPERATIONS@ Auction Date Tenor (Days) Maturity Date    Amount Current Rate / Cut off Rate C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF) I. Today's Operations 1. Fixed Rate 2. Variable Rate& (I) Main Operation (a) Repo    (b) Reverse Repo

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Hiriyur Urban Co-operative Bank Ltd., Hiriyur, Karnataka from the close of business on March 10, 2023 vide Directive No. BLR.DOS.SSMS.No. S2333/12.14.075/2022-23 dated March 09, 2023 for a period of six months, which was last extended up to December 10, 2023 vide Directive no. DOR.MON/D-66/12.23.075/2023-24 dated September 05, 2023. 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 December 10, 2023

The rate of interest on Government of India Floating Rate Bond 2031 (FRB 2031) applicable for the half year December 07, 2023 to June 06, 2024 shall be 8.12 percent per annum. It may be recalled that FRB 2031 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield of last three auctions (from the rate fixing day i.e. December 07, 2023) of 182 Day T-Bills, plus a fixed spread of One percent.

The Reserve Bank has today released data on Reserve Money for the week ended December 01, 2023.

Treasury Bills: Full Auction Result Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹7000 Crore ₹8000 Crore ₹9000 Crore II. Competitive Bids Received (i) Number 124 123 140 (ii) Amount ₹ 29059.650 Crore ₹ 19446.030 Crore ₹ 22416.875 Crore III. Cut-off price / Yield 98.2956 96.5487 93.3368

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹7,000 Crore ₹8,000 Crore ₹9,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.2956 (YTM: 6.9549%) 96.5487 (YTM: 7.1690%) 93.3368 (YTM: 7.1585%) IV. Total Face Value Accepted ₹7,000 Crore ₹8,000 Crore ₹9,000 Crore Ajit Prasad Director (Communications) Press Release: 2023-2024/1417

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV)    563,473.73 6.75 3.00-7.00 I. Call Money    11,293.73 6.72 5.00-6.85 II. Triparty Repo 394,827.15    6.74 6.60-6.76 III. Market Repo 157,302.85 6.77 3.00-6.90 IV. Repo in Corporate Bond 50.00 7.00 7.00-7.00 B. Term Segment I. Notice Money** 73.50 6.46 6.20-6.80 II. Term Money@@ 371.00 - 6.80-7.05 III. Triparty Repo 26.70 6.70 6.65-6.70 IV. Market Repo    1,544.79 7.03 7.00-7.15 V. Repo in Corporate Bond    997.00 8.73 8.73-8.73

Sumerpur Mercantile Urban Co-operative Bank Limited, Sumerpur, Rajasthan was placed under All-Inclusive Directions from close of business on December 06, 2022 for a period of six months, subject to review, vide Directive dated December 05, 2022. The validity of the directions was last extended vide Directive dated September 05, 2023 for three months up to close of business on December 06, 2023, subject to review.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Imperial Urban Cooperative Bank Ltd., Jalandhar vide Directive No. CDG.DOS.RSG.No.S1645/16-03-46/2022-23 dated March 9, 2023 for a period of six months up to close of business on September 10, 2023. The validity of the directions was further extended up to close of business on December 10, 2023. 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 December 10, 2023.

December 05, 2023   State Government Securities - Full Auction Result   The result of the auction of State Government Securities held on December 05, 2023 is as under:  (Amount in ₹ Crore)

December 05, 2023 Result of Yield Based Auction of State Government Securities Sr. No State / UT Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Yield (%) Tenure (Year) 1 Andhra Pradesh 1000 1000 7.70 6 1000 1000 7.73 9 1000 1000 7.71 14 2 Bihar 2000 2000 7.74 15 3 Haryana 1000 1000 7.72 10

(Amount in ₹ crore, Rate in Per cent)MONEY MARKETS@ Volume(One Leg) WeightedAverage Rate    RangeA. Overnight Segment (I+II+III+IV)    559,801.53 6.75 3.01-6.90 I. Call Money 13,049.08 6.74    5.00-6.85 II. Triparty Repo 393,872.85 6.75 6.50-6.76 III. Market Repo 152,879.60 6.77 3.01 6.90 IV. Repo in Corporate Bond 0.00

Government of India (GOI) has announced the sale (Issue/re-issue) of four dated securities for a notified amount of ₹39,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount
(₹ crore) GoI specific Notification Auction Date Settlement Date 1 7.32% GS 2030 Nov 13, 2030 12,000 F.No.4(3)-B(W&M)/2023 dated December 04, 2023 December 08, 2023 (Friday) December 11, 2023 (Monday) 2 7.18% GS 2037 July 24, 2037 10,000 3 7.25% GS 2063 June 12, 2063 12,000 4 New GOI SGrB 2033 Dec 11, 2033    5,000 Total 
39,000     

Today, the Reserve Bank of India (RBI), vide order dated December 04, 2023, has cancelled the licence of “Shankarrao Pujari Nutan Nagari Sahakari Bank Limited, Ichalkaranji, Kolhapur”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on December 04, 2023. The Commissioner for Cooperation and Registrar 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 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 October 2023. Ajit Prasad Director (Communications) Press Release: 2023-2024/1410

The Reserve Bank of India (RBI) has, by an order dated November 20, 2023, imposed a monetary penalty of ₹4.00 lakh (Rupees Four lakh only) on Jijamata Mahila Sahakari Bank Limited, Pune (the bank) for non-compliance with RBI directions on ‘Reserve Bank of India - Know Your Customer (KYC) Direction, 2016’ and ‘Frauds in UCBs: Changes in Monitoring and Reporting Mechanism’. 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 Banking Regulation Act, 1949. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background

The Reserve Bank of India (RBI), by an order dated November 20, 2023, has imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Shri Laxmikrupa Urban Co-operative Bank Limited, Pune (the bank) for non-compliance with RBI directions on ‘Reserve Bank of India - Know Your Customer (KYC) Direction, 2016’. 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 Banking Regulation Act, 1949.

December 04, 2023 RBI imposes monetary penalty on The Konark Urban Cooperative Bank Ltd., Ulhasnagar, Maharashtra  The Reserve Bank of India (RBI) has, by an order dated November 20, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Konark Urban Cooperative Bank Ltd., Ulhasnagar (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts - Primary (Urban) Co-operative 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.

December 04, 2023   RBI imposes monetary penalty on The Chembur Nagarik Sahakari Bank Ltd., Mumbai, Maharashtra The Reserve Bank of India (RBI) has, by an order dated November 20, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Chembur Nagarik Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts - Primary (Urban) Co-operative 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.

(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    -    - 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) 15,321.48 6.69    5.50-6.90 I. Call Money    961.55    6.20 5.50-6.70 II. Triparty Repo 12,206.90 6.75    6.00-6.90 III. Market Repo 2,153.03 6.57 6.50-6.60 IV. Repo in Corporate Bond 0.00 - - B. Term Segment I. Notice Money** 12,432.82 6.79 5.00-6.90 II. Term Money@@ 228.50 - 6.75-6.90 III. Triparty Repo 358,510.95    6.75 6.35-6.77 IV. Market Repo 160,757.05 6.78 0.01-6.98

The Reserve Bank of India, vide Directive LKO.DOS.SED.No.S850/10-03-030/2022-2023 dated March 02, 2023 had placed Banaras Merchantile Co-operative Bank Ltd., Varanasi (U.P) under Directions from the close of business on March 03, 2023 for a period of six months. The validity of the directions was further extended up to close of business on December 03, 2023.

In terms of GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series X - Issue date December 04, 2017) 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 December 04, 2023.

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹15,132 Crore (Face Value).  Sr. No.    State / UT    Amount to be raised (₹ Cr)    Additional Borrowing (Greenshoe) Option (₹ Cr)    Tenure (Year)    Type of Auction 1    Andhra Pradesh    1000    -    6    Yield 1000    -    9    Yield 1000    -    14    Yield 2    Bihar    2000    -    15    Yield 3    Haryana    1000    -    10    Yield 4    Jammu and Kashmir    600    -    27    Yield 5    Karnataka    2000    -    10    Yield

Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:  Sr. No.    Treasury Bill    Notified Amount (in ₹ Crore)    Auction Date    Settlement Date 1    91 Days    7,000    November 01, 2023 (Wednesday)    November 02, 2023 (Thursday)

Auction Results 7.37% GS 2028 7.18% GS 2033 7.30% GS 2053 I. Notified Amount ₹7000 Crore ₹13000 Crore ₹10000 Crore II. Underwriting Notified Amount ₹7000 Crore ₹13000 Crore ₹10000 Crore III. Competitive Bids Received (i) Number 132 186 278 (ii) Amount ₹19766 Crore ₹30297.700 Crore ₹25849.173 Crore IV. Cut-off price / Yield 100.40 99.23 97.11 (YTM: 7.2684%) (YTM: 7.2899%) (YTM: 7.5452%) V. Competitive Bids Accepted (i) Number 40 61 159

7.37% GS 2028 7.18% GS 2033 7.30% GS 2053 I. Notified Amount ₹7,000 crore ₹13,000 crore    ₹10,000 crore II. Cut off Price / Implicit Yield at cut-off 100.40/7.2684% 99.23/7.2899% 97.11/7.5452% III. Amount accepted in the auction    ₹7,000 crore ₹13,000 crore ₹10,000 crore IV. Devolvement on Primary Dealers NIL NIL NIL Ajit Prasad Director (Communications)  Press Release: 2023-2024/1388

Today, the Reserve Bank released the web publication ‘Deposits with Scheduled Commercial Banks – September 2023’ on its Database on Indian Economy (DBIE) portal3 (web-link: - https://dbieold.rbi.org.in/DBIE/dbie.rbi?site=BsrPublications#!21).  Scheduled commercial banks (SCBs) {excluding regional rural banks (RRBs)} report branch-wise data on type of deposits (current, savings and term), its institutional sector wise ownership, age wise distribution of deposits pertaining to individuals, maturity pattern of term deposits as well as number of bank employees in the quarterly Basic Statistical Return (BSR) – 2 to the Reserve Bank. These data are disseminated at disaggregated level (viz., type of deposits, population groups, bank groups, states, districts, centres, interest rate ranges, size and original as well as residual maturity).

Today, the Reserve Bank released its web publication entitled ‘Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs) - September 2023’ on its Database on Indian Economy (DBIE) portal1 (web-link: https://dbieold.rbi.org.in/DBIE/dbie.rbi?site=BsrPublications#!12). It captures various characteristics of bank credit such as occupation/activity and organisational sector of the borrower, type of account and interest rates based on account-level reporting2. Data reported by 90 SCBs (excluding Regional Rural Banks) are presented for bank groups, population groups and states3.

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item    2022    2023    Variation Nov. 25    Nov. 17    Nov. 24    Week    Year 1    2    3    4    5 4 Loans and Advances         4.1 Central Government    0    0    0    0    0 4.2 State Governments    2944    17338    16275    -1062    13331 * Data are provisional; difference, if any, is due to rounding off.

The value of exports and imports of services during October 2023 is given in the following table.  International Trade in Services (US$ Million) Month    Receipts (Exports)    Payments (Imports) July – 2023    26,228 (8.1)    13,754 (-2.2) August – 2023    28,719 (8.4)    15,103

Tenor 14-day Notified Amount (in ₹ crore) 50,000 Total amount of offers received (in ₹ crore) 22,468 Amount accepted (in ₹ crore) 22,468 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA Ajit Prasad Director (Communications) Press Release: 2023-2024/1389

The Reserve Bank of India (RBI) had announced the withdrawal of ₹2000 denomination banknotes from circulation vide Press Release 2023-2024/257 dated May 19, 2023. The status of withdrawal of ₹2000 banknotes has been periodically published by the RBI.  2. The facility for deposit and / or exchange of the ₹2000 banknotes was available at all bank branches in the country initially upto September 30, 2023, which was later extended upto October 07, 2023.

(Amount in ₹ crore) SCHEDULED COMMERCIAL BANKS (Including RRBs, SFBs and PBs)    ALL SCHEDULED BANKS 18-Nov-22 03-NOV-2023* 17-NOV-2023* 18-Nov-22    03-NOV-2023* 17-NOV-2023* I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from banks 197683.51 242686.81 241123.31 200234.72 246100.18 244489.89 **  b) Borrowings from banks 59717.51 195603.02 186866.5 59825.5 195669.28 186961.73 c) Other demand & time liabilities 52717.05 72833.37 72004.03 53280.8    73572.49 72619.52

In the underwriting auctions conducted on December 01, 2023 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)

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Musiri Urban Co-operative Bank Limited, Musiri vide Directive No. CHN.DoS.UCBs.No.S1135/12-01-849/ 2022-23 dated March 02, 2023, for a period of six months up to September 02, 2023, which was last extended up to December 02, 2023 vide Directive DOR.MON/D-63/12.25.135/2023-24 dated August 29, 2023. 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 December 02, 2023.

The Reserve Bank of India issued Directions to Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS), vide Directive AMD.DOS.SSM.No.S1561/11-03-203/2022-2023 dated March 02, 2023, for a period of six months up to September 03, 2023, which was last extended up to December 02, 2023 vide Directive DOR.MON/D-62/12.21.203/2023-24 dated August 29, 2023.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Faiz Mercantile Cooperative Bank Ltd., Nashik Maharashtra vide Directive no. NGP.DOS.SSM 4.No.S1412/15-03-552/2022-2023 dated March 02, 2023, for a period of six months up to September 3, 2023 and modified from time to time which were last extended up to December 3, 2023 vide Directive DOR.MON.D-64/12.22.407/2023-24 dated August 31, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the Directive beyond December 3, 2023.

 (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 502,797.21 6.76 0.01-7.00 I. Call Money    11,115.29 6.78 5.00-6.90 II. Triparty Repo 351,036.80 6.76 6.50-6.80 III. Market Repo 140,345.12 6.78 0.01-6.89 IV. Repo in Corporate Bond 300.00 7.00 7.00-7.00 B. Term Segment I. Notice Money** 154.00 6.53 6.00-6.85 II. Term Money@@ 219.00    - 6.75-7.00 III. Triparty Repo 310.00 6.79 6.50-6.85 IV. Market Repo 1,101.45 7.10 7.10-7.10 V. Repo in Corporate Bond    0.00

The Reserve Bank of India (RBI) and the Bank of England (BoE) today signed a Memorandum of Understanding (MoU) concerning cooperation and exchange of information in relation to the Clearing Corporation of India Limited (CCIL). The MoU establishes a framework for the BoE to place reliance on RBI’s regulatory and supervisory activities while safeguarding UK financial stability. The MoU also demonstrates the importance of cross-border cooperation to facilitate international clearing activities and the BoE’s commitment to deference to other regulators’ regimes.

The Reserve Bank of India (RBI) has, by an order dated November 07, 2023, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Balasore Bhadrak Central Co-operative Bank Ltd., Balasore (the bank) for non-compliance with the directions issued by RBI on “Membership of Credit Information Companies (CICs)”. 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.

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo auction on December 01, 2023, Friday, as under:  Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 14 10:30 AM to 11:00 AM December 15, 2023 (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 Director (Communications) Press Release: 2023-2024/1374

Data on sectoral deployment of bank credit for the month of September 20231 collected from 40 select scheduled commercial banks, accounting for about 93 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 credit2 registered a growth of 15.3 per cent in September 20233 as compared with 16.9 per cent a year ago. Highlights of the sectoral deployment of bank credit3 are given below:

Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of November 2023 are set out in Tables 1 to 7.

Today, the Reserve Bank released its quarterly house price index (HPI)1 (base: 2010-11=100) for Q2:2023-24, based on transaction-level data received from the registration authorities in ten major cities2. Time series data on all-India and city-wise HPIs are available at the Bank’s database on Indian economy (DBIE) portal (https://dbieold.rbi.org.in/DBIE/dbie.rbi?site=statistics > Real Sector > Price & Wages> Quarterly).

Today, the Reserve Bank released data on the performance of the private corporate sector during the second quarter of 2023-24 drawn from abridged quarterly financial results of 2,835 listed non-government non-financial companies. These include data for Q2:2022-23 and Q1:2023-24 to enable comparison (web-link

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 525,397.55 6.77 0.01-7.02 I. Call Money 7,912.85 6.79 5.00-6.90 II. Triparty Repo 369,615.35 6.77 6.25-6.82 III. Market Repo 147,644.35 6.79 0.01-6.90 IV. Repo in Corporate Bond 225.00 7.02 7.02-7.02 B. Term Segment I. Notice Money** 5,024.15 6.84 5.75-6.98 II. Term Money@@ 1,933.00 - 6.55-7.07 III. Triparty Repo 1,000.00 6.87 6.85-6.88 IV. Market Repo 550.00 7.10 7.10-7.10 V. Repo in Corporate Bond 0.00 - -

The Reserve Bank of India (RBI) has, by an order dated November 03, 2023, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Dhrangadhra People’s Co-operative Bank Ltd., Dhrangadhra, Dist. Surendranagar, Gujarat (the bank) for non-compliance with the directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (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 November 13, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh and fifty thousand only) on The Patliputra Central Cooperative Bank Ltd, Bihar (the bank) for non-compliance with the directions issued by RBI on ‘The Depositor Education and Awareness Fund Scheme, 2014 – Section 26A of Banking Regulation Act, 1949 - Operational Guidelines’ and ‘Reserve Bank of India – (Know Your Customer (KYC)) Directions, 2016’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India has imposed a monetary penalty of ₹10,000/- (Rupees Ten thousand only) on Bank of America, N.A. 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 of India has imposed a monetary penalty of ₹10,000/- (Rupees Ten Thousand only) on HDFC Bank 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 directions on acceptance of deposits from non-residents.

The Reserve Bank of India (RBI) has, by an order dated October 30, 2023, imposed a monetary penalty of ₹1.50 lakh (Rupees One lakh fifty thousand only) on Patan Nagarik Sahakari Bank Ltd., Patan, 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’ read with ‘Loans and Advances to directors etc. - directors as surety/guarantors – Clarification’ and ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (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 November 03, 2023, imposed a monetary penalty of ₹1.50 Lakh (Rupees One lakh fifty thousand only) on The Mandal Nagarik Sahakari Bank Ltd., Mandal, Dist. 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’ read with ‘Loans and Advances to Directors etc. - Directors as surety/guarantors – Clarification’ and ‘Co-operative Banks - Interest Rate on Deposits’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47-A (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 December 01, 2023.  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:

The Reserve Bank has today released data on Money Supply for the fortnight ended November 17, 2023 Ajit Prasad Director (Communications) Press Release: 2023-2024/664

The Reserve Bank has today released data on Reserve Money for the week ended November 24, 2023. Ajit Prasad Director (Communications) Press Release: 2023-2024/1368

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹7000 Crore ₹8000 Crore ₹9000 Crore II. Competitive Bids Received (i) Number 103 94 146 (ii) Amount ₹22842.650 Crore ₹15387.150 Crore ₹27636.150 Crore III. Cut-off price / Yield 98.2944 96.5550 93.3463 (YTM:6.9599%) (YTM:7.1554%) (YTM:7.1476%) IV. Competitive Bids Accepted (i) Number 51 77 67

I. T-Bill 91 days 182 days 364 days II.    Total Face Value Notified ₹7,000 Crore ₹8,000 Crore ₹9,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price    98.2944 (YTM: 6.9599%) 96.5550 (YTM: 7.1554%)    93.3463 (YTM: 7.1476%) IV. Total Face Value Accepted ₹7,000 Crore ₹8,000 Crore ₹9,000 Crore Ajit Prasad Director(Communications) Press Release: 2023-2024/1366

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 571,516.68 6.79 0.01-7.80 I. Call Money 14,947.81 6.81 5.00-6.90 II. Triparty Repo 388,104.30 6.79 6.75-6.82 III. Market Repo 168,314.60 6.80 0.01-7.80 IV. Repo in Corporate Bond 149.97 7.05 7.05-7.05 B. Term Segment

The result of the auction of State Government Securities held on November 28, 2023 is as under: (Amount in ₹ Crore) ANDHRA PRADESH 2035 CHHATTISGARH 2031 GOA 2033 GUJARAT 2026 Notified Amount 1000 1000 100 1000 Tenure 12 8 10 3 Competitive Bids Received (i) No. 79 50 12 75 (ii) Amount 4836 3627 430 6230 Cut-off Yield (%) 7.77 7.74 7.75 7.58 Competitive Bids Accepted (i) No. 45 22 4

Sr. No    State / UT    Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹) / Yield (%) Tenure (Year) 1 Andhra Pradesh 1000 1000 7.77 12 2 Chhattisgarh 1000 1000 7.74 8 3 Goa 100 100 7.75 10 4 Gujarat 1000 1000 7.58 3 1000 1000 7.65 6 5 Haryana 500 500 7.71 10 1000 1000 7.75 12 6 Jammu and Kashmir 600 600 7.74 20

(Amount in ₹ crore, Rate in Per cent)MONEY MARKETS@ Volume(One Leg) WeightedAverage Rate RangeA. 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  

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 555,209.27 6.79 0.01-7.10 I. Call Money 13,372.58 6.81 5.00-6.92 II. Triparty Repo371,722.45 6.79 6.50-6.82 III. Market Rep 169,649.24 6.80 0.01-6.90

Today, the Reserve Bank of India releases Volume 43, No.2, 2022 of its Occasional Papers, a research journal containing contributions from its staff. This issue contains three articles and two book reviews.  Articles:  1. Cash versus Digital Payment Transactions in India: Decoding the Currency Demand Paradox

Government of India (GOI) has announced the sale (re-issue) of three dated securities for a notified amount of ₹30,000 crore as per the following details: Sr No    Security    Date of Repayment    Notified Amount (₹ crore)    GoI specific Notification    Auction Date    Settlement Date 1    7.37% GS 2028    Oct 23, 2028    7,000

In terms of GOI Notification F.No.4(19) - W&M/2014 dated October 30, 2015 (SGB 2015-I - Issue date November 30, 2015) on Sovereign Gold Bond Scheme, the Gold Bonds shall be repayable on the expiration of eight years from the date of the issue of the Gold Bonds. Accordingly, the final redemption date of the above tranche shall be November 30, 2023.