Press Releases

The Reserve Bank of India today placed on its website an update on “Measuring Productivity at the Industry Level-The India KLEMS [Capital (K), Labour (L), Energy (E), Material (M) and Services (S)] Database” comprising the Data Manual 2024 and time-series data on productivity for 27 industries covering the period 1980-81 to 2022-23. The database, which has KLEMS data for an additional year, i.e., 2022-23, is expected to aid the analysis of productivity trends in India at disaggregated industry levels.

Tenor 4-day Notified Amount (in ₹ crore) 75,000 Total amount of offers received (in ₹ crore) 22,890 Amount accepted (in ₹ crore) 22,890 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers 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) 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) 21,503.89 6.36 5.00-6.55 I. Call Money 963.50 6.13 5.50-6.24 II. Triparty Repo 17,811.15 6.36 5.90-6.55 III. Market Repo 2,729.24 6.43 5.00-6.50 IV. Repo in Corporate Bond 0.00 - -

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on July 08, 2024, Monday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 75,000 4 11:45 AM to 12:15 PM July 12, 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.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 12,928.40 6.35 4.50-6.65 I. Call Money 858.00 6.14 4.50-6.30 II. Triparty Repo 11,169.40 6.34 6.00-6.50 III. Market Repo 65.00 6.30 6.30-6.30 IV. Repo in Corporate Bond 836.00 6.61 6.60-6.65

The Reserve Bank of India (RBI), vide order dated July 05, 2024, has cancelled the licence of “Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District, Karnataka”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 05, 2024. The Registrar of Cooperative Societies, Karnataka 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 (RBI) has, by an order dated July 03, 2024 imposed a monetary penalty of ₹1,31,80,000 (Rupees One crore thirty one lakh eighty thousand only) on Punjab National Bank (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’, and ‘Reserve Bank of India (Know Your Customer (KYC) Direction, 2016’. This penalty has been imposed in exercise of powers vested in RBI conferred under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and section 51(1) of the Banking Regulation Act, 1949.

The Reserve Bank of India hosted the 4th Suresh Tendulkar Memorial Lecture on July 5, 2024 in Mumbai. The lecture was delivered by Dr. John C. Williams, President and Chief Executive Officer, Federal Reserve Bank of New York. The text of his lecture titled “Managing the Known Unknowns” is available on the RBI website.
 

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹6,100 Crore (Face Value). Sr. No. State/UT Amount to be raised (₹ Crore) Additional Borrowing (Greenshoe) Option (₹ Crore) Tenure (Year) Type of Auction 1. Goa 100 - 15 Yield 2. Haryana 1000 - 12 Yield 3. Jammu & Kashmir 1000 - 25 Yield

The Reserve Bank of India, vide directive DEL.DOS.EXG_SSM No. S515/12-10- 013/2022-23 dated July 07, 2022, had placed Ramgarhia Co-operative Bank Ltd, New Delhi – under Directions from the close of business on July 08, 2022, for a period of six months up to January 08, 2023, the validity of which was last extended up to close of business on July 08, 2024 vide directive DOR.MON.D-1/12.28.115/2024-25 dated April 04, 2024.

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 8,000 July 10,2024 (Wednesday) July 11,2024 (Thursday) 2 182 Days 6,000 3 364 Days 6,000 Total 20,000

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Jun. 30 Jun. 21 Jun. 28 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 9835 4039 7286 3247 -2549 * Data are provisional; difference, if any, is due to rounding off.

Auction Results 7.02% GS 2027 7.23% GS 2039 7.30% GS 2053 I. Notified Amount ₹6,000 Crore ₹12,000 Crore ₹10,000 Crore II. Underwriting Notified Amount ₹6,000 Crore ₹12,000 Crore ₹10,000 Crore III. Competitive Bids Received (i) Number 116 291 320 (ii) Amount ₹29338.000 Crore ₹38400.500 Crore ₹30879.250 Crore IV. Cut-off price / Yield 100.15 101.72 102.64 (YTM: 6.9577%) (YTM: 7.0391%) (YTM: 7.0837%) V. Competitive Bids Accepted (i) Number 16 80 133 (ii) Amount ₹5984.513 Crore ₹11983.921 Crore ₹9988.250 Crore

7.02% GS 2027 7.23% GS 2039 7.30% GS 2053 I. Notified Amount ₹6,000 crore ₹12,000 crore ₹10,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 100.15/6.9577% 101.72/7.0391% 102.64/7.0837% III. Amount accepted in the auction ₹6,000 crore ₹12,000 crore ₹10,000 crore IV. Devolvement on Primary Dealers NIL NIL NIL

The Reserve Bank of India has launched the 66th round of its Order Books, Inventories and Capacity Utilisation Survey (OBICUS). The survey is for the reference period April - June 2024 (Q1:2024-25).

Tenor 3-day Notified Amount (in ₹ crore) 1,00,000 Total amount of offers received (in ₹ crore) 61,731 Amount accepted (in ₹ crore) 61,731 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA

In the underwriting auctions conducted on July 05, 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: (₹ 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) 7.02% GS 2027 6,000 3,003 2,997 6,000 0.06 7.23% GS 2039 12,000 6,006 5,994 12,000 0.08 7.30% GS 2053 10,000 5,019 4,981 10,000 0.12 Auction for the sale of securities will be held on July 05, 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 552,720.38 6.36 0.01-6.70 I. Call Money 12,084.89 6.50 5.10-6.55 II. Triparty Repo 389,141.30 6.35 6.32-6.70 III. Market Repo 150,674.19 6.36 0.01-6.50 IV. Repo in Corporate Bond 820.00 6.59 6.55-6.65

The Reserve Bank of India (RBI), vide order dated July 03, 2024, has cancelled the licence of “Banaras Merchantile Co-operative Bank Limited, Varanasi”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 04, 2024. The Commissioner for Cooperation and Registrar of Cooperative Societies, Uttar Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.