Press Releases

The Reserve Bank of India, vide Directive: LKO.DOS.SED.No.S875/10.03.759/2022-23 dated March 09, 2023 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the National Mercantile Co-operative Bank Ltd., Lucknow (U.P)  under Directions from the close of business on March 10, 2023. The validity of these Directions was extended time-to-time, last being up to March 10, 2024.

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

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.

Scheduled Banks’ Statement of Position in India as on Friday, February 23, 2024

The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) today in Mumbai for establishing a framework to promote the use of local currencies viz., the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions. The MoU was signed by the Governor, Reserve Bank of India, Shri Shaktikanta Das and the Governor, Bank Indonesia, Mr. Perry Warjiyo.

Tenor Notified Amount (in ₹ crore) Total amount of bids received (in ₹ crore) Amount allotted (in ₹ crore) Cut off Rate (%) Weighted Average Rate (%)
 

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 490,334.69 6.37 0.01-6.74 I. Call Money 9,994.53 6.44 5.10-6.55 II. Triparty Repo 310,463.95 6.35 6.28-6.74 III. Market Repo 169,186.21 6.39 0.01-6.70

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 March 10, 2024.

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on March 07, 2024, Thursday, as under

The Reserve Bank has today released data on Reserve Money for the week ended March 01, 2024 and Money Supply for the fortnight ended February 23, 2024.

Today the Reserve Bank of India placed on its website a Working Paper titled, “Drivers of Commercial Paper Rate Spread – An Empirical Assessment” under the Reserve Bank of India Working Paper Series[1]. The paper is co-authored by Priyanka Priyadarshini, Anshul, Srijashree Sardar, Dipak R. Chaudhari and Sangeeta Das.

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹10000 Crore ₹15000 Crore ₹9000 Crore II. Competitive Bids Received (i) Number 103 214 137 (ii) Amount ₹31113 Crore ₹ 46996.100 Crore ₹ 37831.100 Crore III. Cut-off price / Yield 98.3091 96.5587 93.3834 (YTM:6.8988%) (YTM:7.1475%) (YTM:7.1049%) IV. Competitive Bids Accepted (i) Number 24 64 32 (ii) Amount ₹ 9948.016 Crore ₹ 14921.808 Crore ₹ 8985.315 Crore

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹10,000 Crore ₹15,000 Crore ₹9,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.3091 (YTM: 6.8988%) 96.5587 (YTM: 7.1475%) 93.3834 (YTM: 7.1049%) IV. Total Face Value Accepted ₹10,000 Crore ₹15,000 Crore ₹9,000 Crore 

Tenor 1-day Notified Amount (in ₹ crore) 1,00,000 Total amount of offers received (in ₹ crore) 1,29,793 Amount accepted (in ₹ crore) 1,00,027 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate 76.07 Ajit Prasad Director (Communications) Press Release: 2023-2024/2008

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 503,017.35 6.33 5.00-6.65 I. Call Money 10,008.45 6.44 5.50-6.55 II. Triparty Repo 326,076.10 6.29 6.20-6.44 III. Market Repo 166,367.90 6.41 5.00-6.55 IV. Repo in Corporate Bond 564.90 6.60 6.60-6.65

The Reserve Bank of India has today, in exercise of its powers under section 45L(1)(b) of the Reserve Bank of India Act, 1934, directed JM Financial Products Limited (JMFPL or ‘the company’) to cease and desist, with immediate effect, from doing any form of financing against shares and debentures, including sanction and disbursal of loans against Initial Public Offering (IPO) of shares as well as against subscription to debentures. The Company shall, however, continue to service its existing loan accounts through the usual collection and recovery process.

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 January 2024.

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on March 06, 2024, Wednesday, as under

Today the Reserve Bank of India placed on its website a Working Paper titled “Pricing of Interdealer OTC Derivatives in a Limit Order Market” under the Reserve Bank of India Working Paper Series[1]. The Paper is co-authored by Vidya Kamate and Abhishek Kumar.

The result of the auction of State Government Securities held on March 05, 2024 is as under: