Press Releases

The Reserve Bank of India (RBI) has imposed monetary penalty on the following two Payment System Operators (PSOs) for non-compliance with certain provisions of the Master Direction – Know Your Customer (KYC) Direction, 2016 dated February 25, 2016 (as updated from time to time). S.No. Name of the PSO Speaking Order dated Amount of Penalty (₹ lakh) 1 Manappuram Finance Limited July 16, 2024 41.50 2 Ola Financial Services Pvt. Ltd. July 16, 2024 33.40

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹29,500 Crore (Face Value). Sr. No. State / UT Amount to be raised (₹Crore) Tenure (Year) Type of Auction 1 Andhra Pradesh 1000 15 Yield 1000 20 Yield 1000 25 Yield 2 Haryana 1500 12 Yield 3 Jammu and Kashmir 500 22 Yield 4 Kerala 2000 28 Yield 5 Maharashtra 1500 10 Yield 1500 14 Yield 1500 15 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 8,000 July 31,2024 (Wednesday) August 01,2024 (Thursday) 2 182 Days 6,000 3 364 Days 6,000 Total 20,000

The Reserve  Bank of India issued Directions to The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati, Maharashtra under Section 35A read with Section 56 of the Banking  Regulation Act, 1949 vide Directive No.CO.DOS.SED.No.S2698/12-07-005/2022-2023  dated July 27, 2022, for a period of six months up to the close of business on  January 28, 2023, as modified from time to time, which were last extended up to  the close of business on July 28, 2024 vide Directive DOR.MON.D-10/12.22.603/2024-25  dated April 24, 2024.

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Jul. 21 Jul. 12 Jul. 19 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 12928 16359 19805 3446 6877 * Data are provisional; difference, if any, is due to rounding off.

The Reserve Bank had announced opening of the Fifth Cohort (Theme Neutral) under Regulatory Sandbox vide Press release dated October 27, 2023. 2. The Reserve Bank received twenty-two applications of which five have been selected for the ‘Test Phase’. The entities, as per details below, shall commence testing of their solutions from August 2024:

Auction Results 7.04% GS 2029 7.23% GS 2039 7.34% GS 2064 I. Notified Amount ₹12,000 crore ₹12,000 crore ₹11,000 crore II. Underwriting Notified Amount ₹12,000 crore ₹12,000 crore ₹11,000 crore III. Competitive Bids Received (i) Number 179 247 236 (ii) Amount ₹32732.130 crore ₹31791.500 crore ₹29772.000 crore IV. Cut-off price / Yield 100.85 102.30 103.58 (YTM: 6.8279%) (YTM: 6.9758%) (YTM: 7.0686%) V. Competitive Bids Accepted

The Reserve Bank of India today issued a Prompt Corrective Action (PCA) Framework for Primary (Urban) Co-operative Banks (UCBs). The provisions of the PCA Framework will be effective from April 1, 2025.

Background

     The Reserve Bank had issued a Supervisory Action Framework (SAF) as an early intervention tool for bringing about desired improvements in weak

(Amount in ₹ crore)  SCHEDULED COMMERCIAL BANKS (Including RRBs,SFBs and PBs) ALL SCHEDULED BANKS  14-Jul-2023 28-Jun-2024* 12-Jul-2024* 14-Jul-2023 28-Jun-2024* 12-Jul-2024* I LIABILITIES TO THE BKG.SYSTEM (A)             a) Demand & Time deposits from banks 245861.45 281546.34 276953.70 248180.96 285619.46 280933.13  b) Borrowings from banks 196330.08 150168.05 137548.94 196446.94 150174.05 137558.44  c) Other demand & time liabilities 63687.26 76593.71 75484.94 64379.68 76874.54 75782.30 II LIABILITIES TO OTHERS (A) a) Deposits (other than from banks) 19030776.86 (18876781.94) 21285820.86 (21196424.09) 21177216.41 (21090509.24) 19472237.28 (19318242.36) 21743456.65  (21654059.88) 21631374.15  (21544666.98)  i) Demand 2181426.56 2601677.37 2390991.08 2226914.90 2651692.30 2439811.75  ii) Time 16849350.30 18684143.49 18786225.33 17245322.38 19091764.35 19191562.41

7.04% GS 2029 7.23% GS 2039 7.34% GS 2064 I. Notified Amount ₹12,000 crore ₹12,000 crore ₹11,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 100.85/6.8279% 102.30/6.9758% 103.58/7.0686% III. Amount accepted in the auction ₹12,000 crore ₹12,000 crore ₹11,000 crore IV. Devolvement on Primary Dealers NIL NIL NIL

The Reserve Bank of India (RBI) has been publishing a composite Reserve Bank of India – Digital Payments Index (RBI-DPI) since January 1, 2021 with March 2018 as base to capture the extent of digitisation of payments across the country. The index for March 2024 stands at 445.50 as against 418.77 for September 2023.  The RBI-DPI index has increased across all parameters driven by significant growth in payment performance and payment infrastructure across the country over the period.  The index series since its inception is as under:  Period RBI - DPI Index March 2018 (Base) 100 March 2019 153.47 September 2019 173.49 March 2020 207.84 September 2020 217.74 March 2021 270.59 September 2021 304.06 March 2022 349.30 September 2022 377.46 March 2023 395.57 September 2023 418.77 March 2024 445.50   (Puneet Pancholy) Chief General Manager Press Release: 2024-2025/774

Tenor 14-day Notified Amount (in ₹ crore) 1,50,000 Total amount of offers received (in ₹ crore) 23,420 Amount accepted (in ₹ crore) 23,420 Cut off Rate (%) 6.49 Weighted Average Rate (%) 6.49 Partial Acceptance Percentage of offers received at cut off rate NA Ajit Prasad Deputy General Manager (Communications) Press Release: 2024-2025/773

In the underwriting auctions conducted on July 26, 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) 7.04% GS 2029 12,000 6,006 5,994 12,000 0.05 7.23% GS 2039 12,000 6,006 5,994 12,000 0.07 7.34% GS 2064 11,000 5,502 5,498 11,000 0.09 Auction for the sale of securities will be held on July 26, 2024. Ajit Prasad Deputy General Manager (Communications) Press Release: 2024-2025/772

MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 587,006.90 6.46 3.00-6.85 I. Call Money 9,436.54 6.56 5.10-6.70 II. Triparty Repo 407,485.90 6.45 6.30-6.60 III. Market Repo 169,395.75 6.49 3.00-6.70 IV. Repo in Corporate Bond 688.71 6.72 6.70-6.85 B. Term Segment I. Notice Money** 87.90 6.35 6.24-6.55 II. Term Money@@ 244.00 - 6.80-7.00 III. Triparty Repo 692.75 6.56 6.55-6.60 IV. Market Repo 1,982.90 6.51 6.50-6.70

The Reserve Bank of India (RBl) has, by an order dated July 19, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jilla Sahakari Kendriya Bank Maryadit, Khargone, Madhya Pradesh (the bank), for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with section 46(4)(i) and section 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated July 22, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Jharkhand State Co-operative Bank Ltd, Ranchi (the bank) for non-compliance with certain directions issued by RBI on ‘Know your Customer (KYC) norms’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on July 26, 2024, Friday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,50,000 14 10:30 AM to 11:00 AM August 09, 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.