Press Releases - RBI - Reserve Bank of India
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The Reserve Bank of India has today placed on its website “Guidance Note on Operational Risk Management and Operational Resilience’’ (hereafter ‘Guidance Note’). This Guidance Note aligns the Reserve Bank of India’s regulatory guidance with the Basel Committee on Banking Supervision (BCBS) Principles, viz., (a) ‘Revisions to the Principles for the Sound Management of Operational Risk’ and (b) ‘Principles for Operational Resilience’ (both issued in March 2021), while adopting the global best practices including those on operational resilience.
The Reserve Bank of India has today placed on its website “Guidance Note on Operational Risk Management and Operational Resilience’’ (hereafter ‘Guidance Note’). This Guidance Note aligns the Reserve Bank of India’s regulatory guidance with the Basel Committee on Banking Supervision (BCBS) Principles, viz., (a) ‘Revisions to the Principles for the Sound Management of Operational Risk’ and (b) ‘Principles for Operational Resilience’ (both issued in March 2021), while adopting the global best practices including those on operational resilience.
Data on sectoral deployment of bank credit for the month of March 2024[1] collected from 41 select scheduled commercial banks, accounting for about 95 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 credit[2] registered a growth of 16.3 per cent in March 2024[3] as compared with 15.4 per cent a year ago. Highlights of the sectoral deployment of bank credit3 are given below: Credit growth to agriculture and allied activities was robust at 20.1 per cent (y-o-y) in March 2024 (15.4 per cent a year ago). Credit to industry grew by 8.5 per cent (y-o-y) in March 2024 as compared with 5.6 per cent in March 2023. Among major industries, growth in credit (y-o-y) to ‘chemicals & chemical products’, ‘food processing’, and ‘infrastructure’ accelerated in March 2024 as compared with the corresponding month of the previous year, while that to ‘basic metal & metal products’ moderated. Credit growth to services sector improved to 20.2 per cent (y-o-y) in March 2024 (from 19.6 per cent a year ago), with higher growth in credit to ‘transport operators’ and ‘commercial real estate’. Credit growth to ‘non-banking financial companies (NBFCs)’ and ‘trade’, however, decelerated in March 2024 as compared with March 2023.
Data on sectoral deployment of bank credit for the month of March 2024[1] collected from 41 select scheduled commercial banks, accounting for about 95 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 credit[2] registered a growth of 16.3 per cent in March 2024[3] as compared with 15.4 per cent a year ago. Highlights of the sectoral deployment of bank credit3 are given below: Credit growth to agriculture and allied activities was robust at 20.1 per cent (y-o-y) in March 2024 (15.4 per cent a year ago). Credit to industry grew by 8.5 per cent (y-o-y) in March 2024 as compared with 5.6 per cent in March 2023. Among major industries, growth in credit (y-o-y) to ‘chemicals & chemical products’, ‘food processing’, and ‘infrastructure’ accelerated in March 2024 as compared with the corresponding month of the previous year, while that to ‘basic metal & metal products’ moderated. Credit growth to services sector improved to 20.2 per cent (y-o-y) in March 2024 (from 19.6 per cent a year ago), with higher growth in credit to ‘transport operators’ and ‘commercial real estate’. Credit growth to ‘non-banking financial companies (NBFCs)’ and ‘trade’, however, decelerated in March 2024 as compared with March 2023.
The result of the auction of State Government Securities held on April 30,2024 is as under: (Amount in ₹Crore) ANDHRA PRADESH 2036 ANDHRA PRADESH 2041 ANDHRA PRADESH 2044 ASSAM 2034 Notified Amount 1000 1000 1000 1000 Tenure 12 17 20 10 Competitive Bids Received (i) No. 92 33 34 68 (ii) Amount 4280 2505 3430 3905 Cut-off Yield (%) 7.53 7.51 7.49 7.54 Competitive Bids Accepted (i) No. 31 3 4 31 (ii) Amount 965.867 988.294 989.985 965.526
The result of the auction of State Government Securities held on April 30,2024 is as under: (Amount in ₹Crore) ANDHRA PRADESH 2036 ANDHRA PRADESH 2041 ANDHRA PRADESH 2044 ASSAM 2034 Notified Amount 1000 1000 1000 1000 Tenure 12 17 20 10 Competitive Bids Received (i) No. 92 33 34 68 (ii) Amount 4280 2505 3430 3905 Cut-off Yield (%) 7.53 7.51 7.49 7.54 Competitive Bids Accepted (i) No. 31 3 4 31 (ii) Amount 965.867 988.294 989.985 965.526
Sr. No. State Amount to be raised (₹Crore) Amount Accepted (₹ Crore) Cut off Yield (%) Tenure (Year) 1 Andhra Pradesh 1000 1000 7.53 12 1000 1000 7.51 17 1000 1000 7.49 20 2 Assam 1000 1000 7.54 10 3 Haryana 1000 1000 7.52 10 4 Kerala 2000 2000 7.47 26 5 Punjab 1000 1000 7.54 08 1000 1000 7.53 12 700 700 7.53 13 6 Rajasthan 1000 1000 7.52 10 1000 1000 7.52 13 1000 1000 7.52 15 1000 1000 7.49 20 7 Tamil Nadu 1000 1000 7.49 20 Total 14,700 14,700
Sr. No. State Amount to be raised (₹Crore) Amount Accepted (₹ Crore) Cut off Yield (%) Tenure (Year) 1 Andhra Pradesh 1000 1000 7.53 12 1000 1000 7.51 17 1000 1000 7.49 20 2 Assam 1000 1000 7.54 10 3 Haryana 1000 1000 7.52 10 4 Kerala 2000 2000 7.47 26 5 Punjab 1000 1000 7.54 08 1000 1000 7.53 12 700 700 7.53 13 6 Rajasthan 1000 1000 7.52 10 1000 1000 7.52 13 1000 1000 7.52 15 1000 1000 7.49 20 7 Tamil Nadu 1000 1000 7.49 20 Total 14,700 14,700
(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 515,777.49 6.66 4.00-8.25 I. Call Money 12,317.21 6.69 5.10-6.80 II. Triparty Repo 328,618.50 6.67 6.25-6.85 III. Market Repo 173,634.61 6.62 4.00-6.85 IV. Repo in Corporate Bond 1,207.17 7.28 6.85-8.25 B. Term Segment I. Notice Money** 393.00 6.65 5.95-6.78 II. Term Money@@ 266.00 - 6.60-6.98 III. Triparty Repo 1,000.00 6.73 6.70-6.75 IV. Market Repo 1,163.42 6.87 6.85-6.90 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) 515,777.49 6.66 4.00-8.25 I. Call Money 12,317.21 6.69 5.10-6.80 II. Triparty Repo 328,618.50 6.67 6.25-6.85 III. Market Repo 173,634.61 6.62 4.00-6.85 IV. Repo in Corporate Bond 1,207.17 7.28 6.85-8.25 B. Term Segment I. Notice Money** 393.00 6.65 5.95-6.78 II. Term Money@@ 266.00 - 6.60-6.98 III. Triparty Repo 1,000.00 6.73 6.70-6.75 IV. Market Repo 1,163.42 6.87 6.85-6.90 V. Repo in Corporate Bond 0.00 - -
In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies issued as a part of the Bi-monthly Monetary Policy Statement for 2023-24 dated February 08, 2024, the Reserve Bank of India has today placed on its website Draft Master Direction – Reserve Bank of India (Electronic Trading Platforms) Directions, 2024. Comments/feedback on the draft Directions are invited from Electronic Trading Platform operators, banks, market participants and other interested parties by May 31, 2024.
In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies issued as a part of the Bi-monthly Monetary Policy Statement for 2023-24 dated February 08, 2024, the Reserve Bank of India has today placed on its website Draft Master Direction – Reserve Bank of India (Electronic Trading Platforms) Directions, 2024. Comments/feedback on the draft Directions are invited from Electronic Trading Platform operators, banks, market participants and other interested parties by May 31, 2024.
Government of India (GOI) has announced the sale (re-issue) of three dated securities for a notified amount of ₹28,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ crore) GoI specific Notification Auction Date Settlement Date 1 7.33% GS 2026 Oct 30, 2026 6,000 F.No.4(3)-B(W&M)/2024 dated April 29, 2024 May 03, 2024 (Friday) May 06, 2024 (Monday) 2 7.23% GS 2039 Apr 15, 2039 10,000 3 7.34% GS 2064 Apr 22, 2064 12,000 Total 28,000
Government of India (GOI) has announced the sale (re-issue) of three dated securities for a notified amount of ₹28,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ crore) GoI specific Notification Auction Date Settlement Date 1 7.33% GS 2026 Oct 30, 2026 6,000 F.No.4(3)-B(W&M)/2024 dated April 29, 2024 May 03, 2024 (Friday) May 06, 2024 (Monday) 2 7.23% GS 2039 Apr 15, 2039 10,000 3 7.34% GS 2064 Apr 22, 2064 12,000 Total 28,000
The rate of interest on Government of India Floating Rate Bond 2034 (GOI FRB 2034) applicable for the half year April 30, 2024 to October 29, 2024 shall be 8.00 per cent per annum.
The rate of interest on Government of India Floating Rate Bond 2034 (GOI FRB 2034) applicable for the half year April 30, 2024 to October 29, 2024 shall be 8.00 per cent per annum.
In terms of GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series V - Issue date October 30, 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 April 30, 2024
In terms of GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series V - Issue date October 30, 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 April 30, 2024
The Reserve Bank of India (RBl) has, by an order dated April 10, 2024, imposed a monetary penalty of ₹75,000/- (Rupees Seventy-Five thousand only) on Indira Mahila Sahakari Bank Limited, Malegaon, Maharashtra (the bank) for non-compliance with certain provisions of RBI Directions on ‘Policy and Practice regarding Nominal Membership’ and ‘Exposure Norms & Statutory/ Other Restrictions - UCBs. 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 56 of the Banking Regulation Act, 1949.
The Reserve Bank of India (RBl) has, by an order dated April 10, 2024, imposed a monetary penalty of ₹75,000/- (Rupees Seventy-Five thousand only) on Indira Mahila Sahakari Bank Limited, Malegaon, Maharashtra (the bank) for non-compliance with certain provisions of RBI Directions on ‘Policy and Practice regarding Nominal Membership’ and ‘Exposure Norms & Statutory/ Other Restrictions - UCBs. 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 56 of the Banking Regulation Act, 1949.
The Reserve Bank of India (RBI) has, by an order dated April 16, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Chitradurga District Co-operative Central Bank Limited, Chitradurga, Karnataka (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds - Guidelines for Classification, Reporting and Monitoring’. 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.
The Reserve Bank of India (RBI) has, by an order dated April 16, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty thousand only) on The Chitradurga District Co-operative Central Bank Limited, Chitradurga, Karnataka (the bank) for non-compliance with the directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds - Guidelines for Classification, Reporting and Monitoring’. 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.
The Reserve Bank of India (RBl) has, by an order dated April 12, 2024, imposed a monetary penalty of ₹0.50 lakh (Rupees Fifty thousand only) on Samarth Sahakari Bank Limited, Solapur, Maharashtra (the bank) for non-compliance with RBI directions on ‘Exposure Norms and Statutory/Other Restrictions -UCBs’. This penalty has been imposed in exercise of powers vested in RBI, conferred under 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 April 12, 2024, imposed a monetary penalty of ₹0.50 lakh (Rupees Fifty thousand only) on Samarth Sahakari Bank Limited, Solapur, Maharashtra (the bank) for non-compliance with RBI directions on ‘Exposure Norms and Statutory/Other Restrictions -UCBs’. This penalty has been imposed in exercise of powers vested in RBI, conferred under 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 April 16, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Central Co-operative Bank Limited, Bikaner, Rajasthan (the bank) for non-compliance with directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds - Guidelines for Classification, Reporting and Monitoring’. 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 56 of the Banking Regulation Act, 1949. The statutory inspection of the bank was conducted by NABARD with reference to its financial position as on March 31, 2022. Based on supervisory findings of non-compliance with NABARD directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.
The Reserve Bank of India (RBI) has, by an order dated April 16, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two lakh only) on The Central Co-operative Bank Limited, Bikaner, Rajasthan (the bank) for non-compliance with directions issued by the National Bank for Agriculture and Rural Development (NABARD) on ‘Frauds - Guidelines for Classification, Reporting and Monitoring’. 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 56 of the Banking Regulation Act, 1949. The statutory inspection of the bank was conducted by NABARD with reference to its financial position as on March 31, 2022. Based on supervisory findings of non-compliance with NABARD directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.
The Reserve Bank of India has been regularly conducting Inflation Expectations Survey of Households (IESH). The May 2024 round of the survey is being launched. The survey aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities, viz., Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram. The survey seeks qualitative responses from households on price changes (general prices as well as prices of specific product groups) in the three months ahead as well as in the one year ahead period and quantitative responses on current, three months ahead and one year ahead inflation rates. The results of this survey provide useful inputs for monetary policy.
The Reserve Bank of India has been regularly conducting Inflation Expectations Survey of Households (IESH). The May 2024 round of the survey is being launched. The survey aims at capturing subjective assessments on price movements and inflation, based on their individual consumption baskets, across 19 cities, viz., Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Raipur, Ranchi and Thiruvananthapuram. The survey seeks qualitative responses from households on price changes (general prices as well as prices of specific product groups) in the three months ahead as well as in the one year ahead period and quantitative responses on current, three months ahead and one year ahead inflation rates. The results of this survey provide useful inputs for monetary policy.
The Reserve Bank of India has been regularly conducting Consumer Confidence Survey (CCS). The May 2024 round of the survey is being launched.
The Reserve Bank of India has been regularly conducting Consumer Confidence Survey (CCS). The May 2024 round of the survey is being launched.
The Reserve Bank of India (RBI) has, by an order dated April 17, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Vaish Co-operative Adarsh Bank Limited, New Delhi (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC) Directions, 2016’. 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.
The Reserve Bank of India (RBI) has, by an order dated April 17, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Vaish Co-operative Adarsh Bank Limited, New Delhi (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC) Directions, 2016’. 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.
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): Sr. No. Name of the NBFC Registered Office Address CoR No. CoR Issued On Name of the services provider/mobile app
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): Sr. No. Name of the NBFC Registered Office Address CoR No. CoR Issued On Name of the services provider/mobile app
Tenor 4-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 97,000 Amount allotted (in ₹ crore) 97,000 Cut off Rate (%) 6.52 Weighted Average Rate (%) 6.62 Partial Allotment Percentage of bids received at cut off rate (%) NA
Tenor 4-day Notified Amount (in ₹ crore) 1,00,000 Total amount of bids received (in ₹ crore) 97,000 Amount allotted (in ₹ crore) 97,000 Cut off Rate (%) 6.52 Weighted Average Rate (%) 6.62 Partial Allotment Percentage of bids received at cut off rate (%) NA
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 - -
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) 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 - -
On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on April 29, 2024, Monday, as under:
On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on April 29, 2024, Monday, as under:
(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 524,609.68 6.67 0.02-7.10 I. Call Money 9,577.69 6.68 5.10-6.87 II. Triparty Repo 351,712.55 6.70 6.60-6.75 III. Market Repo 162,528.44 6.59 0.02-6.80 IV. Repo in Corporate Bond 791.00 6.86 6.85-7.10 B. Term Segment I. Notice Money** 39.50 6.63 5.85-6.70 II. Term Money@@ 337.00 - 6.85-6.90 III. Triparty Repo 1,650.00 6.80 6.75-6.80 IV. Market Repo 442.29 6.92 6.80-6.95 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) 524,609.68 6.67 0.02-7.10 I. Call Money 9,577.69 6.68 5.10-6.87 II. Triparty Repo 351,712.55 6.70 6.60-6.75 III. Market Repo 162,528.44 6.59 0.02-6.80 IV. Repo in Corporate Bond 791.00 6.86 6.85-7.10 B. Term Segment I. Notice Money** 39.50 6.63 5.85-6.70 II. Term Money@@ 337.00 - 6.85-6.90 III. Triparty Repo 1,650.00 6.80 6.75-6.80 IV. Market Repo 442.29 6.92 6.80-6.95 V. Repo in Corporate Bond 0.00 - -
In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated December 08, 2023 regarding issuance of a regulatory framework for aggregation of loan products by lending service providers (LSPs), the Reserve Bank of India has today placed on its website the Draft Circular on ‘Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders’.
In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated December 08, 2023 regarding issuance of a regulatory framework for aggregation of loan products by lending service providers (LSPs), the Reserve Bank of India has today placed on its website the Draft Circular on ‘Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders’.
On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on April 26, 2024, Friday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 25,000 3 2:15 PM to 2:45 PM April 29, 2024 (Monday) 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. (Yogesh Dayal) Chief General Manager Press Release: 2024-2025/182
On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on April 26, 2024, Friday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 25,000 3 2:15 PM to 2:45 PM April 29, 2024 (Monday) 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. (Yogesh Dayal) Chief General Manager Press Release: 2024-2025/182
The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹14,700 Crore (Face Value). Sr. No. State Amount to be raised (₹ Crore) Additional Borrowing (Greenshoe) Option (₹ Crore) Tenure (Year) Type of Auction 1 Andhra Pradesh 1000 - 12 Yield 1000 - 17 Yield 1000 - 20 Yield
The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹14,700 Crore (Face Value). Sr. No. State Amount to be raised (₹ Crore) Additional Borrowing (Greenshoe) Option (₹ Crore) Tenure (Year) Type of Auction 1 Andhra Pradesh 1000 - 12 Yield 1000 - 17 Yield 1000 - 20 Yield
Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:
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 2023 2024 Variation Apr. 21 Apr.12 Apr. 19 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 3145 0 0 0 -3145 4.2 State Governments 3146 12921 17496 4575 14350 * Data are provisional; difference, if any, is due to rounding off.
1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Apr. 21 Apr.12 Apr. 19 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 3145 0 0 0 -3145 4.2 State Governments 3146 12921 17496 4575 14350 * Data are provisional; difference, if any, is due to rounding off.
Today the Reserve Bank of India placed on its website a Working Paper titled, “Equity Markets and Monetary Policy Surprises” under the Reserve Bank of India Working Paper Series . The paper is co-authored by Mayank Gupta, Amit Pawar, Satyam Kumar, Abhinandan Borad and Subrat Kumar Seet.
Today the Reserve Bank of India placed on its website a Working Paper titled, “Equity Markets and Monetary Policy Surprises” under the Reserve Bank of India Working Paper Series . The paper is co-authored by Mayank Gupta, Amit Pawar, Satyam Kumar, Abhinandan Borad and Subrat Kumar Seet.
Auction Results 7.10% GS 2034 7.46% GS 2073 I. Notified Amount ₹20,000 crore ₹12,000 crore II. Underwriting Notified Amount ₹20,000 crore ₹12,000 crore Competitive Bids Received
Auction Results 7.10% GS 2034 7.46% GS 2073 I. Notified Amount ₹20,000 crore ₹12,000 crore II. Underwriting Notified Amount ₹20,000 crore ₹12,000 crore Competitive Bids Received
Tenor 3-day Notified Amount (in ₹ crore) 25,000 Total amount of bids received (in ₹ crore) 26,040 Amount allotted (in ₹ crore) 25,001 Cut off Rate (%) 6.52 Weighted Average Rate (%) 6.61 Partial Allotment Percentage of bids received at cut off rate (%) 31.81
Tenor 3-day Notified Amount (in ₹ crore) 25,000 Total amount of bids received (in ₹ crore) 26,040 Amount allotted (in ₹ crore) 25,001 Cut off Rate (%) 6.52 Weighted Average Rate (%) 6.61 Partial Allotment Percentage of bids received at cut off rate (%) 31.81
(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 542,013.26 6.67 4.01-7.00 I. Call Money 8,968.87 6.70 5.10-6.85 II. Triparty Repo 359,192.40 6.70 6.60-6.83 III. Market Repo 173,050.99 6.59 4.01-6.85 IV. Repo in Corporate Bond 801.00 6.90 6.88-7.00
(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 542,013.26 6.67 4.01-7.00 I. Call Money 8,968.87 6.70 5.10-6.85 II. Triparty Repo 359,192.40 6.70 6.60-6.83 III. Market Repo 173,050.99 6.59 4.01-6.85 IV. Repo in Corporate Bond 801.00 6.90 6.88-7.00
7.10% GS 2034 7.46% GS 2073 I. Notified Amount ₹20,000 crore ₹12,000 crore II. Cut off Price / Implicit Yield at cut-off 99.37/ 7.1889% 101.67/ 7.3338% III. Amount accepted in the auction ₹20,000 crore ₹12,000 crore IV. Devolvement on Primary Dealers NIL NIL
7.10% GS 2034 7.46% GS 2073 I. Notified Amount ₹20,000 crore ₹12,000 crore II. Cut off Price / Implicit Yield at cut-off 99.37/ 7.1889% 101.67/ 7.3338% III. Amount accepted in the auction ₹20,000 crore ₹12,000 crore IV. Devolvement on Primary Dealers NIL NIL
In the underwriting auctions conducted on April 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) 7.10% GS 2034 20,000 10,017 9,983 20,000 0.34 7.46% GS 2073 12,000 6,006 5,994 12,000 0.54 Auction for the sale of securities will be held on April 26, 2024.
In the underwriting auctions conducted on April 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) 7.10% GS 2034 20,000 10,017 9,983 20,000 0.34 7.46% GS 2073 12,000 6,006 5,994 12,000 0.54 Auction for the sale of securities will be held on April 26, 2024.
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 April 28, 2024 vide Directive DOR.MON.D-119/12.22.603/2023-24 dated January 25, 2024.
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 April 28, 2024 vide Directive DOR.MON.D-119/12.22.603/2023-24 dated January 25, 2024.
It had come to the notice of Reserve Bank of India (RBI) that TalkCharge Technologies Pvt. Ltd. (entity), a company having its registered office at Unit No. 323, JMD Megapolis, 3rd Floor, Sohna Road, Sector 48, Gurgaon, Haryana-122018, is issuing Prepaid Payment Instruments (Wallets) through its website and app (application) ‘TalkCharge’ without obtaining the required authorisation from RBI under the provisions of the Payment and Settlement Systems Act, 2007.
It had come to the notice of Reserve Bank of India (RBI) that TalkCharge Technologies Pvt. Ltd. (entity), a company having its registered office at Unit No. 323, JMD Megapolis, 3rd Floor, Sohna Road, Sector 48, Gurgaon, Haryana-122018, is issuing Prepaid Payment Instruments (Wallets) through its website and app (application) ‘TalkCharge’ without obtaining the required authorisation from RBI under the provisions of the Payment and Settlement Systems Act, 2007.
The Reserve Bank of India (RBl) has by an order dated April 03, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Bilaspur Nagrik Sahakari Bank Limited, Bilaspur (the bank) for non-adherence with the directions issued by RBI to Urban Co-operative Banks on ‘Exposure Norms & Statutory/Other Restrictions-UCBs’. 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.
The Reserve Bank of India (RBl) has by an order dated April 03, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Bilaspur Nagrik Sahakari Bank Limited, Bilaspur (the bank) for non-adherence with the directions issued by RBI to Urban Co-operative Banks on ‘Exposure Norms & Statutory/Other Restrictions-UCBs’. 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.
The Reserve Bank of India (RBl) has, by an order dated April 02, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Sadbhav Nagarik Sahakari Bank Maryadit, Chhatarpur (the bank) for non-compliance with operational instructions issued by RBI under ‘Supervisory Action Framework (SAF) for Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI, conferred under 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 (RBl) has, by an order dated April 02, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Sadbhav Nagarik Sahakari Bank Maryadit, Chhatarpur (the bank) for non-compliance with operational instructions issued by RBI under ‘Supervisory Action Framework (SAF) for Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers vested in RBI, conferred under 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 (RBl) has, by an order dated April 04, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Dr. Jaiprakash Mundada Urban Co-operative Bank Limited, Hingoli, Maharashtra (the bank) for non-compliance with the RBI Directions on ‘Management of Advances-UCBs’ and ‘Exposure Norms & Statutory/ Other Restrictions - UCBs. 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 56 of the Banking Regulation Act, 1949.
The Reserve Bank of India (RBl) has, by an order dated April 04, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Dr. Jaiprakash Mundada Urban Co-operative Bank Limited, Hingoli, Maharashtra (the bank) for non-compliance with the RBI Directions on ‘Management of Advances-UCBs’ and ‘Exposure Norms & Statutory/ Other Restrictions - UCBs. 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 56 of the Banking Regulation Act, 1949.
The Reserve Bank of India (RBI) has, by an order dated April 03, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Bishnupur Town Cooperative Bank Ltd., West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC) Directions, 2016’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A (1) (c) read with sections 46(4) (i) and 56 of the Banking Regulation Act, 1949. The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia, that the charge of not adopting any system of periodic review of risk categorization of its accounts, at least once in six months was sustained, warranting imposition of monetary penalty.
The Reserve Bank of India (RBI) has, by an order dated April 03, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on The Bishnupur Town Cooperative Bank Ltd., West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC) Directions, 2016’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A (1) (c) read with sections 46(4) (i) and 56 of the Banking Regulation Act, 1949. The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia, that the charge of not adopting any system of periodic review of risk categorization of its accounts, at least once in six months was sustained, warranting imposition of monetary penalty.
The Reserve Bank of India (RBI) has imposed, by an order dated March 31, 2024, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Nagar Sahakari Bank Ltd. Gorakhpur (the bank) for non-compliance with the direction issued by RBI under ‘Supervisory Action Framework (SAF) for Primary (Urban) Co-operative Banks (UCBs)’. 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.
The Reserve Bank of India (RBI) has imposed, by an order dated March 31, 2024, a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Nagar Sahakari Bank Ltd. Gorakhpur (the bank) for non-compliance with the direction issued by RBI under ‘Supervisory Action Framework (SAF) for Primary (Urban) Co-operative Banks (UCBs)’. 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.
The Reserve Bank of India issued Directions to The Karmala Urban Co-operative Bank Limited, Solapur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.SED.No.S2729/12-07-005/2022-2023 dated July 29, 2022, for a period of six months up to the close of business on January 29, 2023, as modified from time to time which were last extended up to the close of business on April 29, 2024 vide Directive DOR.MON.No.D-120/12.22.130/2023-24 dated January 24, 2024.
The Reserve Bank of India issued Directions to The Karmala Urban Co-operative Bank Limited, Solapur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.SED.No.S2729/12-07-005/2022-2023 dated July 29, 2022, for a period of six months up to the close of business on January 29, 2023, as modified from time to time which were last extended up to the close of business on April 29, 2024 vide Directive DOR.MON.No.D-120/12.22.130/2023-24 dated January 24, 2024.
The Reserve Bank of India, vide directive DOS.CO.OCCD/185569/12.28.007/2021-2022 dated January 28, 2022 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P) under Directions from the close of business on July 28, 2022. The validity of these Directions was extended time-to-time, last being up to April 27, 2024.
The Reserve Bank of India, vide directive DOS.CO.OCCD/185569/12.28.007/2021-2022 dated January 28, 2022 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the Indian Mercantile Co-operative Bank Ltd., Lucknow (U.P) under Directions from the close of business on July 28, 2022. The validity of these Directions was extended time-to-time, last being up to April 27, 2024.
Tenor 4-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 1,42,875 Amount allotted (in ₹ crore) 50,008 Cut off Rate (%) 6.64 Weighted Average Rate (%) 6.65 Partial Allotment Percentage of bids received at cut off rate (%) 51.29
Tenor 4-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 1,42,875 Amount allotted (in ₹ crore) 50,008 Cut off Rate (%) 6.64 Weighted Average Rate (%) 6.65 Partial Allotment Percentage of bids received at cut off rate (%) 51.29
Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on April 26, 2024
Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on April 26, 2024
On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on April 25, 2024, Thursday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 4 11:30 AM to 12:00 Noon April 29, 2024 (Monday)
On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on April 25, 2024, Thursday, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 4 11:30 AM to 12:00 Noon April 29, 2024 (Monday)
(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 560,515.73 6.65 3.50-7.75 I. Call Money 11,039.47 6.67 5.10-6.80 II. Triparty Repo 382,681.50 6.70 6.65-6.80 III. Market Repo 165,993.76 6.55 3.50-6.90
(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 560,515.73 6.65 3.50-7.75 I. Call Money 11,039.47 6.67 5.10-6.80 II. Triparty Repo 382,681.50 6.70 6.65-6.80 III. Market Repo 165,993.76 6.55 3.50-6.90
The Central Government has re-appointed Shri T. Rabi Sankar as Deputy Governor, Reserve Bank of India for a period of one year with effect from May 03, 2024, or until further orders, whichever is earlier
The Central Government has re-appointed Shri T. Rabi Sankar as Deputy Governor, Reserve Bank of India for a period of one year with effect from May 03, 2024, or until further orders, whichever is earlier
The Reserve Bank has today released data on Reserve Money for the week ended April 19, 2024. Ajit Prasad Press Release: 2024-2025/173 Deputy General Manager (Communications)
The Reserve Bank has today released data on Reserve Money for the week ended April 19, 2024. Ajit Prasad Press Release: 2024-2025/173 Deputy General Manager (Communications)
The Reserve Bank of India has today, in exercise of its powers under Section 35A of the Banking Regulation Act, 1949, directed Kotak Mahindra Bank Limited (hereinafter referred to as ‘the bank’) to cease and desist, with immediate effect, from (i) onboarding of new customers through its online and mobile banking channels and (ii) issuing fresh credit cards. The bank shall, however, continue to provide services to its existing customers, including its credit card customers
The Reserve Bank of India has today, in exercise of its powers under Section 35A of the Banking Regulation Act, 1949, directed Kotak Mahindra Bank Limited (hereinafter referred to as ‘the bank’) to cease and desist, with immediate effect, from (i) onboarding of new customers through its online and mobile banking channels and (ii) issuing fresh credit cards. The bank shall, however, continue to provide services to its existing customers, including its credit card customers
Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹12000 Crore ₹7000 Crore ₹8000 Crore II. Competitive Bids Received (i) Number 109 117 138 (ii) Amount ₹ 26921.600 Crore ₹ 24017.100 Crore ₹ 23187.100 Crore III. Cut-off price / Yield 98.3040 96.6110 93.4140 (YTM:6.9200%) (YTM:7.0350%) (YTM:7.0697%) IV. Competitive Bids Accepted
Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹12000 Crore ₹7000 Crore ₹8000 Crore II. Competitive Bids Received (i) Number 109 117 138 (ii) Amount ₹ 26921.600 Crore ₹ 24017.100 Crore ₹ 23187.100 Crore III. Cut-off price / Yield 98.3040 96.6110 93.4140 (YTM:6.9200%) (YTM:7.0350%) (YTM:7.0697%) IV. Competitive Bids Accepted
Page Last Updated on: August 23, 2024