Press Releases

The Reserve Bank of India (RBl) has, by an order dated October 21, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Maa Sharda Mahila Nagrik Sahakari Bank Maryadit, Maihar, Madhya Pradesh (the bank), for non-compliance with certain directions issued by RBI on ‘Exposure norms & Statutory/ Other Restrictions – UCBs’. 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.

(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 - - 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 - -

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Durga Co-operative Urban Bank Ltd., Vijayawada vide Directive No. HYD.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022 for a period of six months up to January 29, 2023 as modified from time to time, which were last extended up to close of business on October 29, 2024 vide Directive DOR.MON/D-35/12.24.020/2024-25 dated July 19, 2024. 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 October 29, 2024

The Reserve Bank of India had 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, which were last extended up to the close of business on October 28, 2024 vide Directive DOR.MON.D-37/12.22.603/2024-25 dated July 22, 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 560,026.83 6.58 3.00-6.80 I. Call Money 8,472.75 6.61 5.10-6.75 II. Triparty Repo 400,343.95 6.58 6.25-6.65 III. Market Repo 150,100.13 6.57 3.00-6.75 IV. Repo in Corporate Bond 1,110.00 6.67 6.65-6.80

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 October 30, 2024 (Wednesday) October 31, 2024 (Thursday) 2 182 Days 6,000 3 364 Days 6,000 Total 19,000

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹25,050.00 Crore (Face Value). Sr. No. State Amount to be raised. (₹Crore) Tenure (Year) Type of Auction 1 Andhra Pradesh 1000 15 Yield 1000 19 Yield 1000 23 Yield 2 Bihar 2000 10 Yield

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Oct. 20 Oct. 11 Oct. 18 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 20227 9074 23398 14324 3171 * Data are provisional; difference, if any, is due to rounding off.

Today, the Reserve Bank released the results of 2023-24 round of its survey on international trade in banking services (ITBS). This annual survey focuses on cross-border fund-based banking services (e.g., deposits, credit) as well as financial auxiliary services with explicit/implicit fees/commissions charged by foreign branches/ subsidiaries (including joint ventures) of Indian banks as well as foreign banks operating in India (details of the services are given in the Annex). The latest round of the survey covers 14 Indian banks having overseas branches/subsidiaries and 45 foreign banks having branches/subsidiaries in India.

Auction Results 6.79% GS 2034 7.46% GS 2073 I. Notified Amount ₹22,000 crore ₹10,000 crore II. Underwriting Notified Amount ₹22,000 crore ₹10,000 crore III. Competitive Bids Received (i) Number 301 218 (ii) Amount ₹ 52368.443 Crore ₹ 27612.195 Crore IV. Cut-off price / Yield 99.96 106.33 (YTM:6.7948%) (YTM:7.0009%) V. Competitive Bids Accepted (i) Number 191 73 (ii) Amount ₹ 21991.129 Crore ₹ 9992.782 Crore VI. Partial Allotment Percentage of Competitive Bids 40.81% 93.78% (22 Bids) (12 Bids) VII. Weighted Average Price/Yield 99.99 106.36 (WAY: 6.7906%) (WAY: 6.9989%)

The Reserve Bank of India had issued Directions to The Karmala Urban Co-operative Bank Ltd., Solapur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. 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, which were last extended up to the close of business on October 29, 2024 vide Directive DOR.MON.D-38/12.22.130/2024-25 dated July 23, 2024.

6.79% GS 2034 7.46% GS 2073 I. Notified Amount ₹22,000 crore ₹10,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 99.96/ 6.7948% 106.33/7.0009% III. Amount accepted in the auction ₹22,000 crore ₹10,000 crore IV. Devolvement on Primary Dealers NIL NIL

The Reserve Bank of India, in exercise of the powers conferred on it under Section 8 of the Payment and Settlement Systems Act, 2007, has revoked the Certificate of Authorisation (CoA) of the below mentioned Payment System Operator (PSO):

Tenor 6-day Notified Amount (in ₹ crore) 25,000 Total amount of bids received (in ₹ crore) 48,700 Amount allotted (in ₹ crore) 25,005 Cut off Rate (%) 6.55 Weighted Average Rate (%) 6.57 Partial Allotment Percentage of bids received at cut off rate (%) 17.12

The Reserve Bank of India (RBI) conducted an Art Competition, as part of the commemoration of its 90th year, for fine art students in India. 71 undergraduate fine arts students from 71 colleges in the country participated in the competition.

In the underwriting auctions conducted on October 25, 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:

On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on October 25, 2024, Friday, 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) 586,241.55 6.66 0.01-7.60 I. Call Money 11,198.85 6.68 5.10-6.85 II. Triparty Repo 425,191.85 6.66 6.37-6.78 III. Market Repo 149,090.85 6.66 0.01-6.85 IV. Repo in Corporate Bond 760.00 6.92 6.79-7.60

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, to Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow vide Directive DOS.CO.OCCD.185569/12.28.007/2021-22 dated January 28, 2022 for a period of six months upto July 27, 2022, as modified from time to time, which were last extended upto October 27, 2024 vide Directive DOR.MON/D-36/12.28.007/2024-25 dated July 19, 2024. 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 October 27, 2024.

The Reserve Bank of India (RBI) has, by an order dated October 22, 2024, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Vidyasagar Central Co-operative Bank Limited, Midnapore, West Bengal (the bank) for non-compliance with the directions issued by RBI on ‘Housing Finance’. 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 Reserve Bank of India (RBI) has, by an order dated October 22, 2024, imposed a monetary penalty of ₹1.25 lakh (Rupees One Lakh Twenty Five Thousand only) on The Aurangabad District Central Co-operative Bank Ltd., Bihar (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’. 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 BR Act and section 25 of the Credit Information Companies (Regulation) Act, 2005.

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on October 25, 2024.

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 578,427.56 6.69 5.10-6.95 I. Call Money 11,484.88 6.75 5.10-6.90 II. Triparty Repo 424,741.25 6.69 6.55-6.80 III. Market Repo 141,021.43 6.67 6.25-6.90 IV. Repo in Corporate Bond 1,180.00 6.86 6.85-6.95

The Reserve Bank has today released data on Reserve Money for the week ended October 18, 2024.

The fifty first meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during October 7 to 9, 2024.

Auction Results 91 Days 182 Days 364 Days I. Notified Amount ₹7000 Crore ₹6000 Crore ₹6000 Crore II. Competitive Bids Received (i) Number 87 87 72 (ii) Amount ₹ 24299.670 Crore ₹ 13089.150 Crore ₹ 19740.700 Crore III. Cut-off price / Yield 98.4102 96.8153 93.8253 (YTM:6.4797%) (YTM:6.5970%) (YTM:6.5991%) IV. Competitive Bids Accepted (i) Number 36 55 44 (ii) Amount ₹ 6940.169 Crore ₹ 5986.820 Crore ₹ 5983.157 Crore V. Partial Allotment Percentage of Competitive Bids 77.00% 42.92% 31.88%

I. T-Bill 91 days 182 days 364 days II. Total Face Value Notified ₹7,000 Crore ₹6,000 Crore ₹6,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.4102 (YTM:6.4797%) 96.8153 (YTM: 6.5970%) 93.8253 (YTM: 6.5991%) IV. Total Face Value Accepted ₹7,000 Crore ₹6,000 Crore ₹6,000 Crore

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 563,557.45 6.65 5.10-6.85 I. Call Money 9,130.51 6.65 5.10-6.85 II. Triparty Repo 408,209.20 6.66 6.45-6.80 III. Market Repo 145,104.74 6.61 6.00-6.85 IV. Repo in Corporate Bond 1,113.00 6.75 6.70-6.85 B. Term Segment I. Notice Money** 281.00 6.65 6.00-6.90 II. Term Money@@ 501.50 - 6.45-6.95 III. Triparty Repo 657.00 6.70 6.60-6.75 IV. Market Repo 874.20 6.66 6.62-6.80 V. Repo in Corporate Bond 0.00 - -

In terms of GOI Notifications F. No. 4(25) – W&M /2017 dated October 06, 2017 (SGB 2017-18 Series IV - Issue date October 23, 2017) and F. No. 4(22) –B(W&M) /2018 dated October 08, 2018 (SGB 2018-19 Series II-Issue date October 23, 2018)  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 tranches shall be October 23, 2024.

The Reserve Bank of India, vide directive No.CO.DOS. SED. No. S592/45-11-001/2024-25 dated April 23, 2024, had placed The Konark Urban Co-operative Bank Ltd., Ulhasnagar under Directions from the close of business on April 23, 2024 for a period of six months. 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 till close of business on January 23, 2025 as per the directive DOR.MON/D-62/12.22.805/2024-25 dated October 17, 2024, subject to review.

The result of the auction of State Government Securities held on October 22, 2024 is as under: (Amount in ₹Crore) BIHAR 2033 CHHATTISGARH 2033 GOA 2034 KARNATAKA 2035 Notified Amount 2000 1000 100 4000 Tenure 9 Re-issue of 7.46% Chhattisgarh SGS 2033 issued on February 14, 2024 10 11 Competitive Bids Received (i) No. 56 23 18 141 (ii) Amount 4750 2585 730 15490.500 Cut off Price (₹) / Yield (%) 7.11 102.09 / 7.1199 7.12 7.10 Competitive Bids Accepted (i) No. 5 6 6 14 (ii) Amount 1925.848 989.857 95.346 3724.840

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The National Co-operative Bank Ltd., Bangalore vide Directive No. BLR.DOS.SSMS.No.S836/09-01-112/2023-2024 dated July 24, 2023, for a period of six months up to close of business on January 24, 2024, as modified from time to time which were last extended up to close of business on October 24, 2024 vide Directive DOR.MON/D-34/12-23-112/2024-2025 dated July 22, 2024. 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 October 24, 2024

The Reserve Bank of India (RBI) has added the following entities/platforms/websites to the Alert List of unauthorised forex trading platforms. The updated Alert List is available here.

Sr. No. State Amount to be raised (₹ Crore) Amount Accepted (₹ Crore) Cut off Price (₹) / Yield (%) Tenure (Year) 1 Bihar 2000 2000 7.11 9 2 Chhattisgarh 1000 1000 102.09 / 7.1199 Re-issue of 7.46% Chhattisgarh SGS 2033 issued on February 14, 2024 3 Goa 100 100 7.12 10 4 Karnataka 4000 4000 7.10 11 5 Tamil Nadu 1000 1000 7.00 5 Total 8100 8100

(Amount in ₹ Crore, Rate in Per cent) MONEY MARKETS@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 540,586.51 6.46 5.00-6.90 I. Call Money 9,384.15 6.50 5.10-6.90 II. Triparty Repo 373,248.65 6.46 6.30-6.85 III. Market Repo 156,933.71 6.46 5.00-6.85 IV. Repo in Corporate Bond 1,020.00 6.56 6.54 - 6.70 B. Term Segment I. Notice Money** 141.30 6.38 6.20-6.50 II. Term Money@@ 567.50 - 6.65-6.95 III. Triparty Repo 713.00 6.62 6.43-6.74 IV. Market Repo 1,042.10 6.63 6.60-6.75 V. Repo in Corporate Bond 0.00 - -

The Reserve Bank of India (RBI) has, by an order dated October 17, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Family Home Finance Private Limited, Mumbai, Maharashtra (the company) for non-compliance with certain directions issued by RBI on ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 52A of the National Housing Bank Act, 1987.

The Reserve Bank of India (RBI) has, by an order dated October 10, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Nazareth Urban Co-operative Bank Ltd., Tamil Nadu (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and advances to directors, their relatives, and firms /concerns in which they are interested’. 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

Government of India (GOI) has announced the sale (re-issue) of two dated securities for a notified amount of ₹32,000 crore as per the following details: Sr No Security Date of Repayment Notified Amount (₹ Crore) GoI specific Notification Auction Date Settlement Date 1 6.79% GS 2034 Oct 07, 2034 22,000 F.No.4(3)-B(W&M)/2024 dated October 21, 2024 October 25, 2024 (Friday) October 28, 2024 (Monday) 2 7.46% GS 2073 Nov 06, 2073 10,000 Total 32,000

Today, the Reserve Bank released the October 2024 issue of its monthly Bulletin. The Bulletin includes Monetary Policy Statement (October 7-9) 2024-2025, six speeches, seven articles, and current statistics. The seven articles are: I. State of the Economy; II. Monetary Policy Transmission in India: The Recent Experience; III. Nowcasting Food Inflation in India: Leveraging Price and Non-Price Signals through Machine Learning; IV. How Indian Banks are Adopting Artificial Intelligence?; V. COVID-19 and Performance of MSME Clusters in India; VI. Cash Usage Indicator for India; and VII. New Digital Economy and the Paradox of Productivity.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal vide Directive No. CO.DOS.SED.No.S2574/12-07-005/2022-23 dated July 21, 2022 for a period of six months up to close of business on January 22, 2023 as modified from time to time, which were last extended up to close of business on October 22, 2024 vide Directive DOR.MON.D-33/12.29.046/2024-25 dated July 18, 2024. 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 October 22, 2024

A. Source Security 7.27% GS 2026 5.63% GS 2026 8.33% GS 2026 6.97% GS 2026 B. Notified Amount (amount in ₹ cr) 2,000 4,000 1,000 4,000 Destination Security 7.40% GS 2035 7.50% GS 2034 7.40% GS 2035 7.40% GS 2035 C. i. No. of offers received 17 9 10 9 ii. Total amount of Source Security offered (Face value in ₹ cr) 4,610.000 9,238.568 1,857.692 5,284.841 iii. No of offers accepted 3 3 3 2 iv. Total amount of source security accepted (Face value in ₹ cr) 1,000.000 3944.568 1,000.000 500.000 v. Total amount of destination security issued (Face value in ₹ cr) 967.925 3,711.415 985.197 482.294 vi. Cut-off price (₹) / yield (%) for destination security 104.20/ 6.8448 104.79/ 6.8197 104.20/ 6.8448 104.20/ 6.8448

(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) 10,056.19 6.37 5.05-6.85 I. Call Money 1,105.70 6.23 5.50-6.55 II. Triparty Repo 8,850.10 6.39 6.20-6.85 III. Market Repo 100.39 5.76 5.05-6.15 IV. Repo in Corporate Bond 0.00 - - B. Term Segment I. Notice Money** 0.60 6.20 6.20-6.20 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) 6,170.25 6.31 5.50-6.55 I. Call Money 970.10 6.11 5.50-6.24 II. Triparty Repo 4,266.15 6.34 5.81-6.55 III. Market Repo 6.00 5.90 5.90-5.90 IV. Repo in Corporate Bond 928.00 6.40 6.39-6.45 

Today, the Reserve Bank released the data related to the 2023-24 round of its annual survey on computer software and information technology enabled services (ITES) exports. The survey collects details on India’s exports of software services {computer services and ITES/business process outsourcing (BPO) services} as per type of activity, on-site/off-site nature of services, country of destination and modes of supply.

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 October 23, 2024 (Wednesday) October 24, 2024 (Thursday) 2 182 Days 6,000 3 364 Days 6,000 Total 19,000 The sale will be subject to the terms and conditions specified in the

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹ 8,100.00 Crore (Face Value). Sr. No. State Amount to be raised. (₹ Crore) Tenure (Year) Type of Auction 1 Bihar 2000 09 Yield 2 Chhattisgarh 1000 Re-issue of 7.46% Chhattisgarh SGS 2033 issued on February 14, 2024 Price 3 Goa 100 10 Yield 4 Karnataka 4000 11 Yield 5 Tamil Nadu 1000 05 Yield Total 8100

1. Reserve Bank of India - Liabilities and Assets* (₹ Crore) Item 2023 2024 Variation Oct. 13 Oct. 4 Oct. 11 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 20364 35809 9074 -26735 -11290 * Data are provisional; difference, if any, is due to rounding off.

The Reserve Bank of India (RBI) has, by an order dated October 10, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Andhra Pragathi Grameena Bank, Andhra Pradesh (the bank) for non-compliance with certain directions issued by RBI on ‘Strengthening of Prudential Norms- Provisioning Asset Classification and Exposure Limit’ read with ‘Income Recognition, Asset Classification and Provisioning Norms-Guidelines (IRAC norms)’. 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 51(1) of the Banking Regulation Act, 1949.