The Reserve Bank of India will conduct the following Variable Rate Reverse Repo auction on December 23, 2019, Monday, as per the revised guidelines on Term Repo Auctions issued on February 13, 2014.

Sl. No. Notified Amount
(₹ crore)
Tenor
(day)
Window Timing Date of Reversal
1 2,50,000 1 4:00 pm to 4:30 pm December 24, 2019 (Tuesday)

Successful offers will get accepted at their respective offered rates.

Offers at or above the repo rate will be rejected.

Ajit Prasad
Director   

Press Release: 2019-2020/1483

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The rate of interest on the Floating Rate Bonds, 2020 (FRB 2020) applicable for the half year December 21, 2019 to June 20, 2020 shall be 5.15% per annum.

It may be recalled that the rate of interest on FRB, 2020 is set at the average (rounded off to two decimal places) of implicit yields at the cut-off prices, of the last three auctions of GoI 182 day Treasury Bills, held up to period preceding the coupon reset date, which is December 21, 2019. The implicit yields will be computed by reckoning 365 days in a year. The coupon rate has been fixed accordingly.

Ajit Prasad
Director  

Press Release: 2019-2020/1482

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The Reserve Bank of India has today released the 33rd half yearly report on management of foreign exchange reserves with reference to end- September 2019. The position of foreign exchange reserves as on December 06, 2019 is as under:

US $ Billion
Foreign Exchange Reserves (i+ii+iii+iv) 453.4
i. Foreign Currency Assets (FCA) 421.3
ii. Gold 27.1
iii. Special Drawing Rights (SDR) 1.4
iv. Reserve Tranche Position (RTP) 3.6

It may be recalled that in February 2004, the Reserve Bank had started a process of compiling half yearly reports and placing them in the public domain for bringing about more transparency and enhancing the level of disclosure in relation to management of the country’s foreign exchange reserves.

Ajit Prasad
Director  

Press Release: 2019-2020/1481

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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 Day 10,000 December 24, 2019
(Tuesday)
December 26, 2019
(Thursday)
2 182 Day 4,000
3 364 Day 3,000
  Total 17,000    

The sale will be subject to the terms and conditions specified in the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 along with the Amendment Notification No.F.4(2)-W&M/2018 dated April 05, 2018, issued by Government of India, as amended from time to time. State governments, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard, can participate on non-competitive basis, the allocation for which will be outside the notified amount. Individuals can also participate on non-competitive basis as retail investors. For retail investors, the allocation will be restricted to a maximum of 5 percent of the notified amount.

The auction will be Price based using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India’s Core Banking Solution (E-Kuber) system on Tuesday, December 24, 2019, during the below given timings:

Category Timing
Competitive bids 10:30 am – 12:00 pm
Non-Competitive bids 10:30 am – 11:30 am

Results will be announced on the day of the auction.

Payment by successful bidders to be made on Thursday, December 26, 2019.

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595414, 022-27595666). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Ajit Prasad
Director   

Press Release: 2019-2020/1480

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Today, the Reserve Bank released its web publication entitled ‘Quarterly Basic Statistical Returns (BSR)-1: Outstanding Credit of Scheduled Commercial Banks (SCBs), June 2019’, along with quarterly data for March 2019, on its Database on Indian Economy (DBIE) portal (web-link: https://dbie.rbi.org.in/DBIE/dbie.rbi?site=publications#!12). It captures various characteristics of bank credit such as occupation/activity and organisational sector of the borrower, type of account, and interest rates. Data covering 1,21,644 branches of 94 SCBs (excluding Regional Rural Banks) are presented for bank groups, population groups and states1.

Highlights:

  • Industrial credit moderated due to tepid demand but credit to the household sector continued to grow at a robust pace and its share in total credit increased.

  • Private sector banks expanded credit at a pace higher than public sector banks in June 2019.

  • Growth in credit by metropolitan branches was lower vis-a-vis bank branches in other areas. Accordingly, the share of metropolitan branches in total credit declined modestly between March-2019 and June-2019.

  • Working capital loans in the form of cash credit, overdraft and demand loans accounted for 36.8 per cent of outstanding credit in June-2019.

Ajit Prasad
Director  

Press Release: 2019-2020/1478


1 Aggregate data based on fortnightly Form-A Return (collected under Section 42(2) of the RBI Act 1934) for the last reporting Friday of June 2019 had been published earlier at our website (Home>Statistics>Data Release>Fortnightly>Scheduled Bank’s Statement of Position in India) and aggregate level monthly Sectoral Deployment of Bank Credit data for June 2019 based on selected banks had also been published on our website (Home>Statistics>Data Release>Monthly> Data on Sectoral Deployment of Bank Credit).

from PRESS RELEASES FROM RBI https://ift.tt/35I5vKs

1. Reserve Bank of India – Liabilities and Assets*
(₹ Crore)
Item 2018 2019 Variation
Dec. 14 Dec. 6 Dec. 13 Week Year
1 2 3 4 5
4 Loans and Advances          
4.1 Central Government 12732 52575 31003 -21572 18271
4.2 State Governments 7052 9072 10609 1538 3557
* Data are provisional.

2. Foreign Exchange Reserves
Item As on December 13, 2019 Variation over
Week End–March 2019 Year
₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn.
1 2 3 4 5 6 7 8
1 Total Reserves 3219350 454492 -15524 1070 363468 41621 403660 61371
1.1 Foreign Currency Assets 2992223 422422 -13195 1163 326660 37065 353303 54556
1.2 Gold 191029 26968 -2156 -110 31444 3897 43439 5781
1.3 SDRs 10226 1444 -56 2 150 -13 -174 -7
1.4 Reserve Position in the IMF 25872 3658 -117 14 5214 672 7092 1041

4. Scheduled Commercial Banks – Business in India
(₹ Crore)
Item Outstanding as on Dec. 6, 2019 Variation over
Fortnight Financial year so far Year-on-year
2018-19 2019-20 2018 2019
1 2 3 4 5 6
2 Liabilities to Others            
2.1 Aggregate Deposits 13105839 147366 458582 532067 1046964 1221207
2.1a Growth (Per cent)   1.1 4.0 4.2 9.7 10.3
2.1.1 Demand 1379794 48055 -169428 -131493 102640 178940
2.1.2 Time 11726045 99311 628010 663560 944324 1042267
2.2 Borrowings 329057 6887 -24194 -49197 24324 -12457
2.3 Other Demand and Time Liabilities 559194 51412 -50628 15548 -130378 50955
7 Bank Credit 9934740 74437 580828 163017 1208065 728487
7.1a Growth (Per cent)   0.8 6.7 1.7 15.1 7.9
7a.1 Food Credit 124664 33360 37456 83054 10672 45219
7a.2 Non-food credit 9810076 41077 543372 79963 1197393 683268

6. Money Stock: Components and Sources
(₹ Crore)
Item Outstanding as on Variation over
2019 Fortnight Financial Year so far Year-on-Year
2018-19 2019-20 2018 2019
Mar. 31 Dec. 6 Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 15430874 16164619 218871 1.4 636067 4.6 733746 4.8 1383669 10.5 1565966 10.7
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 2052234 2184606 12118 0.6 172066 9.8 132372 6.5 325184 20.2 252827 13.1
1.2 Demand Deposits with Banks 1626309 1500467 52506 3.6 -170166 –11.5 -125842 –7.7 102204 8.4 186920 14.2
1.3 Time Deposits with Banks 11720589 12447188 154200 1.3 632696 5.9 726599 6.2 954136 9.2 1119238 9.9
1.4 ‘Other’ Deposits with Reserve Bank 31742 32359 47 0.1 1471 6.2 617 1.9 2145 9.2 6981 27.5
2 Sources (2.1+2.2+2.3+2.4–2.5)                        
2.1 Net Bank Credit to Government 4387788 5039412 148570 3.0 436815 10.9 651623 14.9 344884 8.4 601197 13.5
2.1.1 Reserve Bank 801951 1064368 98930   305252   262417   252512   283152  
2.1.2 Other Banks 3585837 3975044 49640 1.3 131563 3.7 389206 10.9 92372 2.6 318045 8.7
2.2 Bank Credit to Commercial Sector 10380180 10582330 114060 1.1 587234 6.4 202150 1.9 1231117 14.4 781381 8.0
2.2.1 Reserve Bank 15363 6894 -250   -5191   -8469   1134   -1940  
2.2.2 Other Banks 10364817 10575436 114310 1.1 592425 6.4 210619 2.0 1229983 14.4 783321 8.0

8. Liquidity Operations by RBI
(₹ Crore)
Date Liquidity Adjustment Facility MSF Standing Liquidity Facilities Market Stabilisation Scheme OMO (Outright) Net Injection (+)/ Absorption (-) (1+3+5+6+9-2-4-7-8)
Repo Reverse Repo Variable Rate Repo Variable Rate Reverse Repo Sale Purchase
1 2 3 4 5 6 7 8 9 10
Dec. 9, 2019 3527 12678 244448 3251 -250348
Dec. 10, 2019 3272 18905 5000 245236 4505 -251364
Dec. 11, 2019 3362 17292 246477 3100 -257307
Dec. 12, 2019 3129 17205 269837 5800 -278113
Dec. 13, 2019 3322 34654 2200 244008 3600 210 280 -269470

The above information can be accessed on Internet at https://wss.rbi.org.in/

The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762).

Time series data are available at http://dbie.rbi.org.in/

Ajit Prasad
Director  

Press Release: 2019-2020/1477

from PRESS RELEASES FROM RBI https://ift.tt/2Sfj1kL

The result of the RBI Fixed Rate Repo Operations held on December 20, 2019 is as under:

Amount (Face Value in ₹ Crore)
Items 3 day Repo Operations
5.15% Fixed Rate
1. Bids received  
(i) Number 8
(ii) Amount 3,644
2. Bids Accepted  
(i) Number 8
(ii) Amount 3,644

Ajit Prasad
Director  

Press Release: 2019-2020/1476

from PRESS RELEASES FROM RBI https://ift.tt/2Zanqqs

    6.17% GS 2021 7.27% GS 2026 6.45% GS 2029 7.62% GS 2039 7.63% GS 2059
I. Notified Amount ₹ 2000 cr ₹ 2000 cr ₹ 7000 cr ₹ 1000 cr ₹ 4000 cr
II. Cut off Price / Implicit Yield at cut-off 100.42/5.8812% 102.93/6.6890% 98.75/6.6238% 105.35/7.1099% 106.17/7.1588%
III. Amount accepted in the auction ₹ 2000 cr ₹ 2000 cr ₹ 7000 cr ₹ 1000 cr ₹ 4000 cr
IV. Devolvement on Primary Dealers Nil Nil Nil Nil Nil

Ajit Prasad
Director  

Press Release : 2019-2020/1474

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Tenor 14-day
Notified Amount (in ₹ crore) 26,000
Total amount of bids received (in ₹ crore) 10,175
Amount allotted (in ₹ crore) 10,175
Cut off Rate (%) 5.16
Weighted Average Rate (%) 5.16
Partial Allotment Percentage of bids received at cut off rate (%) NA

Ajit Prasad
Director   

Press Release: 2019-2020/1473

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In the underwriting auctions conducted on December 20, 2019 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 UnderwritingCommitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount underwritten ACU CommissionCut-off rate
(paise per ₹ 100)
6.17% GS 2021 2000 1008 992 2000 0.24
7.27% GS 2026 2000 1008 992 2000 0.13
6.45% GS 2029 7000 3507 3493 7000 0.08
7.62% GS 2039 1000 504 496 1000 0.49
7.63% GS 2059 4000 2016 1984 4000 0.75
Auction for the sale of securities will be held on December 20, 2019.

Ajit Prasad
Director  

Press Release : 2019-2020/1472

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