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Governor's Statement Title

Governor's Statement

Asset Publisher

ଅଗଷ୍ଟ 10, 2023
Governor’s Statement: August 10, 2023
ଅକ୍ଟୋବର 09, 2020
Governor’s Statement - October 9, 2020
ଅଗଷ୍ଟ 06, 2020
Governor’s Statement - August 6, 2020

Speeches

Speeches

Asset Publisher

ସେପ୍ଟେମ୍ବର 16, 2020
What Forces Could Drive the Recovery?
Thank you for this opportunity to interact with eminent business leaders of India and distinguished members of the FICCI. I wish to thank the organisers for hosting this event, undeterred by this still unfolding pandemic that, on a daily basis, tests our resilience and capacity to save lives, households, businesses and the economy. 2. The end-August press release of the National Statistics Office (NSO) was a telling reflection of the ravages of COVID-19. Nevertheless,
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ଅଗଷ୍ଟ 27, 2020
It is Time for Banks to Look Deeply Within: Reorienting Banking Post-Covid

1. The COVID-19 pandemic still continues to keep the world on the edge. The pandemic has so far infected more than 2.3 crore people and has claimed more than 8 lakh lives worldwide. The world is struggling to find a vaccine and/or a cure to the deadly virus. In India also the spread of pandemic continues unabated, though the fatality rate is much lower. 2. As the pandemic ravages on, the economic impact is hard to measure. While there are green shoots and some busines
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Notifications

Notifications

Asset Publisher

ଅଗଷ୍ଟ 06, 2021
Resolution Framework for COVID-19-related Stress - Financial Parameters - Revised timelines for compliance
RBI/2021-22/80 DOR.STR.REC.38/21.04.048/2021-22 August 6, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework for COVID-19-related Stress – Financial Parameters – Revised t
ଜୁନ 04, 2021
Submission of returns under Section 31 of the Banking Regulation Act, 1949 (AACS) - Extension of time
RBI/2021-22/49 DoR.RET.REC.19/12.05.009/2021-22 June 04, 2021 The Chairman / Managing Director / Chief Executive Officer All Primary (Urban) Co-operative Banks, All State Co-operative Banks and Central Co-operative Banks Madam/Sir Submission of returns under Section 31 of the Banking Regulation Act, 1949 (AACS) – Extension of time In terms of Section 31 of the Banking Regulation Act, 1949 (“the Act”), read with Section 56 of the Act, accounts and balance sheet referre
ଜୁନ 04, 2021
Resolution Framework - 2.0: Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs) - Revision in the threshold for aggregate exposure
RBI/2021-22/47 DOR.STR.REC.21/21.04.048/2021-22 June 4, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework - 2.0: Resolution of Covid-19 related stress of Micro, Small and
ମଇ 21, 2021
Relaxation in timeline for compliance with various payment system requirements
RBI/2021-22/41 CO.DPSS.POLC.No.S-106/02-14-003/2021-2022 May 21, 2021 The Chairman / Managing Director / Chief Executive OfficerAll Scheduled Commercial Banks, including Regional Rural Banks /Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks / Payments Banks / Small Finance Banks /Local Area Banks / Non-Bank PPI Issuers /Authorised Payment System Operators / Participants Madam / Dear Sir, Relaxation in timeline for compliance wit
ମଇ 05, 2021
Priority Sector Lending (PSL) - On-lending by Small Finance Banks (SFBs) to NBFC-MFIs
RBI/2021-22/27 FIDD.CO.Plan.BC.No.10/04.09.01/2021-22 May 5, 2021 The Chairman/ Managing Director Chief Executive Officer Small Finance Banks Dear Sir/Madam, Priority Sector Lending (PSL) - On-lending by Small Finance Banks (SFBs) to NBFC-MFIs As per extant guidelines, lending by Small Finance Banks (SFBs) to Micro-Finance Institutions (MFIs) for on-lending is not reckoned for priority sector lending (PSL) classification. In view of the fresh challenges brought on by
ମଇ 05, 2021
Resolution Framework 2.0 - Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs)
RBI/2021-22/32 DOR.STR.REC.12/21.04.048/2021-22 May 5, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework 2.0 – Resolution of Covid-19 related stress of Micro, Small and M
ମଇ 05, 2021
Resolution Framework - 2.0: Resolution of Covid-19 related stress of Individuals and Small Businesses
RBI/2021-22/31 DOR.STR.REC.11/21.04.048/2021-22 May 5, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework – 2.0: Resolution of Covid-19 related stress of Individuals and S
ମଇ 05, 2021
Credit to MSME Entrepreneurs
RBI/2021-22/30 DoR.RET.REC.09/12.01.001/2021-22 May 05, 2021 All Scheduled Commercial Banks Madam/Sir Credit to MSME Entrepreneurs Please refer to our circular DOR.No.Ret.BC.37/12.01.001/2020-21 dated February 5, 2021, on captioned subject. 2. In terms of the above circular, Scheduled Commercial Banks were allowed to deduct the amount equivalent to credit disbursed to new MSME borrowers from their Net Demand and Time Liabilities (NDTL) for calculation of the Cash Rese
ମଇ 05, 2021
Periodic Updation of KYC - Restrictions on Account Operations for Non-compliance
RBI/2021-22/29 DOR. AML.REC 13/14.01.001/2021-22 May 5, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Sir, Periodic Updation of KYC – Restrictions on Account Operations for Non-compliance Please refer to Section 38 of the Master Direction on KYC dated February 25, 2016, in terms of which Regulated Entities (REs) have to carry out periodic updation of KYC of existing customers. Keeping in view the current COVID-19 related restrictions in various parts
ମଇ 05, 2021
Utilisation of Floating Provisions/Counter Cyclical Provisioning Buffer
RBI/2021-22/28 DOR.STR.REC.10/21.04.048/2021-22 May 5, 2021 All Scheduled Commercial Banks (Excluding Regional Rural Banks and Payments Banks) Dear Sir/ Madam, Utilisation of Floating Provisions/Counter Cyclical Provisioning Buffer Please refer to our circular DBOD.No.BP.BC.89/21.04.048/2005-06 dated June 22, 2006 and DBOD.No.BP.BC.68/21.04.048/2006-07 dated March 13, 2007 on creation, accounting, disclosures and utilisation of floating provisions by banks. Banks may
ଅପ୍ରେଲ 22, 2021
Declaration of dividends by banks
RBI/2021-22/23 DOR.ACC.REC.7/21.02.067/2021-22 April 22, 2021 All Commercial Banks and Cooperative Banks, Madam / Sir, Declaration of dividends by banks Please refer to our circular DOR.BP.BC.No.29/21.02.067/2020-21 dated December 4, 2020, and other associated circulars on the captioned subject. 2. In view of the continuing uncertainty caused by the ongoing second wave of COVID-19 in the country, it is crucial that banks remain resilient and proactively raise and cons
ଅପ୍ରେଲ 07, 2021
Asset Classification and Income Recognition following the expiry of Covid-19 regulatory package
RBI/2021-22/17 DOR.STR.REC.4/21.04.048/2021-22 April 7, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Asset Classification and Income Recognition following the expiry of Covid-19 regulato
ଅପ୍ରେଲ 07, 2021
External Commercial Borrowings (ECB) Policy - Relaxation in the period of parking of unutilised ECB proceeds in term deposits
RBI/2021-22/16 A.P. (DIR Series) Circular No. 01 April 07, 2021 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy – Relaxation in the period of parking of unutilised ECB proceeds in term deposits Please refer to paragraph 12 of the Governor’s Statement on Developmental and Regulatory Policies dated April 07, 2021. In this connection, attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraph
ଫେବୃଆରୀ 05, 2021
Basel III Framework on Liquidity Standards - Net Stable Funding Ratio (NSFR)
RBI/2020-21/95 DOR.No.LRG.BC.40/21.04.098/2020-21 February 05, 2021 All Commercial Banks (excluding Regional Rural Banks,Local Area Banks and Payments Banks) Dear Sir/Madam, Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) Please refer to our circular DBR.BP.BC.No.106/21.04.098/2017-18 dated May 17, 2018 on Basel III Framework on Liquidity Standards - Net Stable Funding Ratio (NSFR)-Final Guidelines (‘NSFR Guidelines’) and circular DOR.BP.B
ଫେବୃଆରୀ 05, 2021
Basel III Capital Regulations- Review of transitional arrangements
RBI/2020-21/93 DOR.CAP.BC.No.34/21.06.201/2020-21 February 5, 2021 All Commercial Banks (Excluding Small Finance Banks, Payments Banks, RRBs and LABs) Dear Sir/Madam, Basel III Capital Regulations- Review of transitional arrangements Please refer to circular DOR.BP.BC.No.15/21.06.201/2020-21 dated September 29, 2020 on ‘Basel III Capital Regulations- Review of transitional arrangements’. 2. In view of the continuing stress on account of COVID-19 and in order to aid in
ଡିସେମ୍ବର 04, 2020
Declaration of dividends by banks
RBI/2020-21/75 DOR.BP.BC.No.29/21.02.067/2020-21 December 4, 2020 All Commercial Banks and All Cooperative Banks, Madam / Dear Sir, Declaration of dividends by banks Please refer to our circular DOR.BP.BC.No.64/21.02.067/2019-20 dated April 17, 2020, on the captioned subject. 2. In view of the ongoing stress and heightened uncertainty on account of COVID-19, it is imperative that banks continue to conserve capital to support the economy and absorb losses. In order to
ଡିସେମ୍ବର 04, 2020
Card transactions in Contactless mode - Relaxation in requirement of Additional Factor of Authentication
RBI/2020-21/71 DPSS.CO.PD No.752/02.14.003/2020-21 December 04, 2020 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks including Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks / Small Finance Banks / Local Area Banks / Non-bank Prepaid Payment Instrument issuers / Authorised Card Payment Networks Madam / Dear Sir, Card transactions in Contactless
ଅକ୍ଟୋବର 27, 2020
Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020)
RBI/2020-21/61DOR.No.BP.BC.26/21.04.048/2020-21 October 26, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, Scheme for grant of ex-gratia payment of difference between compound interest and s
ଅକ୍ଟୋବର 13, 2020
Submission of returns under Section 31 (read with section 56) of the Banking Regulation Act, 1949 - Extension of time
RBI/2020-2021/55 DoR(PCB). BPD.Cir No.4/12.05.001/2020-21 October 13, 2020 The Chairman / Managing Director / Chief Executive Officer All Primary (Urban) Co-operative Banks,All State Co-operative Banks and Central Co-operative Banks Madam / Dear Sir, Submission of returns under Section 31 (read with section 56) of the Banking Regulation Act, 1949 - Extension of time Please refer to our circular DoR (PCB).BPD.Cir.No.2/12.05.001/2020-21 dated August 26, 2020 issued to a
ସେପ୍ଟେମ୍ବର 29, 2020
Basel III Framework on Liquidity Standards - Net Stable Funding Ratio (NSFR)
RBI/2020-21/43 DOR.BP.BC.No.16/21.04.098/2020-21 September 29, 2020 All Commercial Banks (excluding Regional Rural Banks, Local Area Banks and Payments Banks) Dear Sir/Madam, Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) Please refer to our@@NBSP@@circular DOR.BP.BC.No.46/21.04.098/2019-20 dated March 27, 2020@@NBSP@@on Net Stable Funding Ratio (NSFR) guidelines. 2. In view of the continued uncertainty on account of COVID-19, on a review
ସେପ୍ଟେମ୍ବର 29, 2020
Basel III Capital Regulations - Review of transitional arrangements
RBI/2020-21/42DOR.BP.BC.No15/21.06.201/2020-21 September 29, 2020 All Commercial Banks (Excluding Small Finance Banks, Payment Banks, RRBs and LABs) Dear Sir/Madam, Basel III Capital Regulations - Review of transitional arrangements Please refer to circular DOR.BP.BC.No.45/21.06.201/2019-20 dated March 27, 2020 on ‘Basel III Capital Regulations - Review of transitional arrangements’. 2. In view of the continuing stress on account of COVID-19, it has been decided to de
ସେପ୍ଟେମ୍ବର 07, 2020
Resolution Framework for COVID-19-related Stress - Financial Parameters
RBI/2020-21/34DOR.No.BP.BC/13/21.04.048/2020-21 September 7, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)All Primary (Urban) Co-operative Banks/State Co-operative Banks/District Central Co-operative BanksAll All-India Financial InstitutionsAll Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework for COVID-19-related Stress – Financial Parameters Please refer
ଅଗଷ୍ଟ 26, 2020
Submission of returns under Section 31 of the Banking Regulation Act, 1949 (AACS) - Extension of time
RBI/2020-21/28 DoR (PCB).BPD.Cir.No.2/12.05.001/2020-21 August 26, 2020 The Chief Executive Officer All Primary (Urban) Co-operative Banks Madam / Dear Sir, Submission of returns under Section 31 of the Banking Regulation Act, 1949 (AACS) – Extension of time In terms of section 31 of the Banking Regulation Act, 1949 (“the Act”) read with Section 56 the Act [as amended by the Banking Regulation (Amendment) Ordinance, 2020], accounts and balance-sheet referred to in sec
ଅଗଷ୍ଟ 06, 2020
Offline Retail Payments using Cards / Wallets / Mobile Devices - Pilot
RBI/2020-21/22 DPSS.CO.PD.No.115/02.14.003/2020-21 August 06, 2020 The Chairman / Managing Director / Chief Executive OfficerAuthorised Payment System Operators (Banks and Non-banks) Madam / Dear Sir, Offline Retail Payments using Cards / Wallets / Mobile Devices – Pilot Please refer to the Statement on Developmental and Regulatory policies issued as part of Monetary Policy statement dated August 06, 2020 wherein it was proposed that the Reserve Bank would allow a pil
ନଭେମ୍ବର 12, 2021
Online Dispute Resolution (ODR) System for Digital Payments
RBI/2020-21/21 DPSS.CO.PD No.116/02.12.004/2020-21 August 6, 2020 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators and Participants (Banks and Non-banks) Madam / Dear Sir, Online Dispute Resolution (ODR) System for Digital Payments Please refer to the Statement on Developmental and Regulatory Policies dated August 6, 2020 wherein the Reserve Bank of India (RBI) had announced introduction of Online Dispute Resolution (ODR)
ଅଗଷ୍ଟ 06, 2020
Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses
RBI/2020-21/19 DoR.No.BP.BC/6/21.04.048/2020-21 August 6, 2020 All Scheduled Commercial Banks (Including Regional Rural Banks) Madam/Dear Sir, Loans against Gold Ornaments and Jewellery for Non-Agricultural End-uses Please refer to the circulars DBOD.No.BP.BC.27/21.04.048/2014-15 July 22, 2014 and DBR.RRB.BC.No.53/31.01.001/2016-17 dated February 16, 2017. Under the extant guidelines, loans sanctioned by banks against pledge of gold ornaments and jewellery should not
ଅଗଷ୍ଟ 06, 2020
Opening of Current Accounts by Banks - Need for Discipline
RBI/2020-21/20 DOR.No.BP.BC/7/21.04.048/2020-21 August 6, 2020 All Scheduled Commercial Banks All Payments Banks Madam/Dear Sir, Opening of Current Accounts by Banks - Need for Discipline Please refer to the circular DBR.Leg.BC.25./09.07.005/2015-16 dated July 2, 2015 on the subject. The instructions on opening of current accounts by banks have been reviewed and the revised instructions are as under: i. No bank shall open current accounts for customers who have availe
ଅଗଷ୍ଟ 06, 2020
Basel III Capital Regulations - Treatment of debt mutual funds/ETFs
RBI/2020-21/18 DOR.No.BP.BC/5/21.04.201/2020-21 August 6, 2020 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir/Madam Basel III Capital Regulations – Treatment of debt mutual funds/ETFs Please refer to our circular DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015, on Basel III capital regulations. 2. In terms of para 8.4.1 of the circular, capital charge for equities is applicable to units of mutual funds. It has now bee
ଅଗଷ୍ଟ 06, 2020
Micro, Small and Medium Enterprises (MSME) sector - Restructuring of Advances
RBI/2020-21/17 DOR.No.BP.BC/4/21.04.048/2020-21 August 6, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative BanksAll All-India Financial InstitutionsAll Non-Banking Financial Companies Dear Sir/ Madam, Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances Please refer to the circular DOR.No.BP.BC.34/21
ଅଗଷ୍ଟ 06, 2020
Resolution Framework for COVID-19-related Stress
RBI/2020-21/16 DOR.No.BP.BC/3/21.04.048/2020-21 August 6, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework for COVID-19-related Stress The Reserve Bank of India (Prudent
ଜୁନ 22, 2020
Increasing Instances of Payment Frauds - Enhancing Public Awareness Campaigns Through Multiple Channels
RBI/2019-20/256 DPSS.CO.OD.No.1934/06.08.005/2019-20 June 22, 2020 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators (banks and non-banks) / Participants of Payment Systems (banks and non-banks) Madam / Dear Sir, Increasing Instances of Payment Frauds – Enhancing Public Awareness Campaigns Through Multiple Channels As you are aware, safety and security of digital transactions are of paramount importance. Reserve Bank has be
ଜୁନ 04, 2020
Interest Subvention (IS) and Prompt Repayment Incentive (PRI) for Short Term Loans for Agriculture including Animal Husbandry, Dairy and Fisheries for extended period on account of Covid-19
RBI/2019-20/250 FIDD.CO.FSD.BC.No.25/05.02.001/2019-20 June 4, 2020 The Chairman / Managing Director & CEOs All Public & Private Sector Scheduled Commercial Banks Madam/Dear Sir, Interest Subvention (IS) and Prompt Repayment Incentive (PRI) for Short Term Loans for Agriculture including Animal Husbandry, Dairy and Fisheries for extended period on account of Covid-19 Please refer to our circular FIDD.CO.FSD.BC.No.24/05.02.001/2019-20 dated April 21, 2020 advisi
ମଇ 23, 2020
COVID19 Regulatory Package - Review of Resolution Timelines under the Prudential Framework on Resolution of Stressed Assets
RBI/2019-20/245 DOR.No.BP.BC.72/21.04.048/2019-20 May 23, 2020 All Scheduled Commercial Banks (excluding Regional Rural Banks); All India Financial Institutions (NABARD, NHB, EXIM Bank, and SIDBI); All Systemically Important Non-Deposit taking Non-Banking Financial Companies (NBFC-ND-SI) and Deposit taking Non-Banking Financial Companies (NBFC-D). Madam/Dear Sir, COVID19 Regulatory Package – Review of Resolution Timelines under the Prudential Framework on Resolution o
ମଇ 23, 2020
Pre-shipment and Post-shipment Export Credit - Extension of Period of Advance
RBI/2019-20/246 DOR.DIR.BC.No.73/04.02.002/2019-20 May 23, 2020 All Scheduled Commercial Banks (excluding RRBs) All Primary Urban Co-operative Banks1 All Small Finance Banks Madam / Dear Sir, Pre-shipment and Post-shipment Export Credit – Extension of Period of Advance Please refer to the Master Circular on ‘Rupee / Foreign Currency Export Credit and Customer Service to Exporters’ issued vide DBR.No.DIR.BC.14/04.02.002/2015-16 dated July 1, 2015 and other associated c
ମଇ 23, 2020
COVID-19 - Regulatory Package
RBI/2019-20/244 DOR.No.BP.BC.71/21.04.048/2019-20 May 23, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, COVID-19 – Regulatory Package Please refer to the Circular DOR.No.BP.BC.47/21.04.048/
ମଇ 23, 2020
Large Exposures Framework - Increase in Exposure to a Group of Connected Counterparties
RBI/2019-20/243 DOR.No.BP.BC.70/21.01.003/2019-20 May 23, 2020 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir/Madam, Large Exposures Framework – Increase in Exposure to a Group of Connected Counterparties Please refer to our circular No.DBR.No.BP.BC.43/21.01.003/2018-19 dated June 03, 2019 on the captioned subject. In terms of para 5.2 of the circular, the sum of all the exposure values of a bank to a group of connected counterparties must no
ମଇ 23, 2020
Import of goods and services- Extension of time limits for Settlement of import payment
RBI/2019-20/242 A.P. (DIR Series) Circular No.33 May 22, 2020 To All Category - I Authorised Dealer Banks Madam / Sir, Import of goods and services- Extension of time limits for Settlement of import payment Please refer to para 5 of Statement on Developmental and Regulatory Policies issued today. In this connection the attention of Authorised Dealer Category -I banks is invited to para B.5.1 (i) of the ‘Master Direction on Import of Goods and Services’ dated January 0
ମଇ 22, 2020
‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt - relaxations
RBI/2019-20/239A.P.(DIR Series) Circular No.32 May 22, 2020 To All Authorised persons Madam / Sir, ‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt - relaxations Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified vide Notification No. FEMA.396/2019-RB dated October 17, 2019, as amended from time to time, and relevant direc
ମଇ 18, 2020
Risk Management and Inter-bank Dealings - Hedging of Foreign Exchange Risk-Date of Implementation
RBI/2019-20/232 A.P.(DIR Series) Circular No.31 May 18, 2020 To Authorised Dealers Category – I Madam/Sir, Risk Management and Inter-bank Dealings – Hedging of Foreign Exchange Risk-Date of Implementation A reference is invited to the Directions on Hedging of Foreign Exchange Risk issued vide A.P. (DIR Series) Circular No. 29 dated April 7, 2020. The Directions were to come into effect from June 1, 2020. 2. Based on the requests received from market participants and i
ଅପ୍ରେଲ 30, 2020
Submission of regulatory returns - Extension of timelines
RBI/2019-20/228 DOR.BP.BC.No.68/21.04.018/2019-20 April 29, 2020 All Scheduled Commercial Banks(including RRBs and Small Finance Banks), Payments Banks and Local Area Banks,All India Financial Institutions,All Co-operative Banks, Madam / Dear Sir, Submission of regulatory returns - Extension of timelines In order to mitigate the difficulties in timely submission of various regulatory returns, in view of disruptions on account of COVID-19 pandemic, it has been decided
ମଇ 26, 2020
Interest Subvention (IS) and Prompt Repayment Incentive (PRI) for Short Term Crop Loans during the years 2018-19 and 2019-20: Extended Period on account of Covid-19
RBI/2019-20/224FIDD.CO.FSD.BC.No.24/05.02.001/2019-20 April 21, 2020 The Chairman/Managing Director & CEOs All Public & Private Sector Scheduled Commercial Banks Madam/Dear Sir, Interest Subvention (IS) and Prompt Repayment Incentive (PRI) for Short Term Crop Loans during the years 2018-19 and 2019-20: Extended Period on account of Covid-19 Please refer to our circular FIDD.CO.FSD.BC.No.15/05.02.001/2018-19 dated March 7, 2019 regarding Interest Subvention Sch
ଅପ୍ରେଲ 20, 2020
COVID19 Regulatory Package - Asset Classification and Provisioning
RBI/2019-20/220DOR.No.BP.BC.63/21.04.048/2019-20 April 17, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, COVID19 Regulatory Package - Asset Classification and Provisioning Please refer to t
ଅପ୍ରେଲ 17, 2020
COVID19 Regulatory Package - Review of Resolution Timelines under the Prudential Framework on Resolution of Stressed Assets
RBI/2019-20/219DOR.No.BP.BC.62/21.04.048/2019-20 April 17, 2020 All Scheduled Commercial Banks (excluding Regional Rural Banks); All India Financial Institutions (NABARD, NHB, EXIM Bank, and SIDBI); All Systemically Important Non-Deposit taking Non-Banking Financial Companies (NBFC-ND-SI) and Deposit taking Non-Banking Financial Companies (NBFC-D). Madam/Dear Sir, COVID19 Regulatory Package – Review of Resolution Timelines under the Prudential Framework on Resolution
ଅପ୍ରେଲ 17, 2020
Basel III Framework on Liquidity Standards - Liquidity Coverage Ratio (LCR)
RBI/2019-20/217 DOR.BP.BC.No.65/21.04.098/2019-20 April 17, 2020 All Commercial Banks (excluding Regional Rural Banks, Local Area Banks and Payments Banks) Madam/Dear Sir, Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR) Please refer to our circular DBOD.BP.BC.No.120/21.04.098/2013-14 dated June 9, 2014 and associated circulars thereon. 2. As part of post Global Financial Crisis (GFC) reforms, Basel Committee on Banking Supervision (BCBS) ha
ଜୁଲାଇ 27, 2020
Declaration of dividends by banks
RBI/2019-20/218DOR.BP.BC.No.64/21.02.067/2019-20 April 17, 2020 All Commercial Banks and All Cooperative Banks, Madam / Dear Sir, Declaration of dividends by banks Banks in India have been granted general permission to declare dividends, subject to compliance with the guidelines laid out in terms of circular DBOD.NO.BP.BC.88/ 21.02.067/2004-05 dated May 4, 2005 and other associated circulars. 2. In an environment of heightened uncertainty caused by COVID-19, it is imp
ଅପ୍ରେଲ 03, 2020
Rupee Drawing Arrangement - Remittance to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund
RBI/2019-20/208 A. P. (DIR Series) Circular No. 28 April 03, 2020 To, All Authorised Dealer Category - I Banks Madam / Sir, Rupee Drawing Arrangement – Remittance to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund Attention of Authorised Dealer Category – I (AD Cat – I) banks is invited to Paragraph 4 of the Master Direction – Opening and Maintenance of Rupee/Foreign currency Vostro Accounts of Non-Resident Exchange Houses da
ଅପ୍ରେଲ 01, 2020
Export of Goods and Services- Realisation and Repatriation of Export Proceeds-Relaxation
RBI/2019-20/206 A. P. (DIR Series) Circular No. 27 April 01, 2020 To, All Authorised Dealer Category – I Banks Madam / Sir, Export of Goods and Services- Realisation and Repatriation of Export Proceeds-Relaxation The Government of India as well as the Reserve Bank has been receiving representations from Exporters Trade bodies to extend the period of realisation of export proceeds in view of the outbreak of pandemic COVID- 19. It has, therefore, been decided, in consul
ଅପ୍ରେଲ 19, 2022
Annual Closing of Government Accounts - Transactions of Central / State Governments - Special Measures for the Current Financial Year (2019-20)
RBI/2019-20/194 DGBA.GBD.No.1799/42.01.029/2019-20 March 27, 2020 All Agency Banks Dear Sir / Madam Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2019-20) All government transactions done by agency banks for Financial Year 2019-20 must be accounted for within the same financial year. Taking into account the current unprecedented situation across the country to tackle the Covid-19
ମାର୍ଚ୍ଚ 27, 2020
Legal Entity Identifier: Extension of deadline
RBI/2019-20/185 FMRD.FMID.No.24/11.01.007/2019-20 March 27, 2020 To All eligible market participants Dear Sir/Madam, Legal Entity Identifier: Extension of deadline A reference is invited to circular FMRD.FMID.No.10/11.01.007/2018-19 dated November 29, 2018 issued by Reserve Bank of India on requirement of Legal Entity Identifier (LEI) for participation in non-derivative markets. Reference is also invited to circular FMRD.FMID.No.15/11.01.007/2018-19 dated April 26, 20
ଜୁଲାଇ 27, 2020
COVID-19 - Regulatory Package
RBI/2019-20/186 DOR.No.BP.BC.47/21.04.048/2019-20 March 27, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative BanksAll All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, COVID-19 – Regulatory Package Please refer to the Statement of Development and Regula
ମାର୍ଚ୍ଚ 16, 2020
COVID-19- Operational and Business Continuity Measures
RBI/2019-20/172 DoS.CO.PPG.BC.01/11.01.005/2019-20 March 16, 2020 The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks (Excluding RRBs) All Local Area Banks All Small Finance Banks and All Payment Banks/All UCBs/NBFCs Madam / Dear Sir, COVID-19- Operational and Business Continuity Measures As you are aware, the World Health Organization (WHO) has declared the recent outbreak of the novel coronavirus disease (COVID-19) a pandemic in
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ଜୁନ 22, 2022
Minutes of the Monetary Policy Committee Meeting, June 6 to 8, 2022
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The thirty sixth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held during June 6 to 8, 2022. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Honorary Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumba
ଜୁନ 08, 2022
Monetary Policy Statement, 2022-23 Resolution of the Monetary Policy Committee (MPC) June 6-8, 2022
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (June 8, 2022) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points to 4.90 per cent with immediate effect. Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.65 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 5.15 per cent.
ମଇ 18, 2022
Minutes of the Monetary Policy Committee Meeting, May 2 and 4, 2022
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The thirty fifth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held during May 2 and 4, 2022 as an off-cycle meeting to reassess the evolving inflation-growth dynamics and the impact of the developments after its meeting of April 6-8, 2022. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Honorary Senior Advisor,
ମଇ 04, 2022
Monetary Policy Statement, 2022-23 Resolution of the Monetary Policy Committee (MPC) May 2 and 4, 2022
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (May 4, 2022) decided to: Increase the policy repo rate under the liquidity adjustment facility (LAF) by 40 basis points to 4.40 per cent with immediate effect. Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.15 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 4.65 per cent. T
ଅପ୍ରେଲ 22, 2022
Minutes of the Monetary Policy Committee Meeting, April 6 to 8, 2022
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The thirty fourth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from April 6 to 8, 2022. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Honorary Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumba
ଫେବୃଆରୀ 24, 2022
Minutes of the Monetary Policy Committee Meeting, February 8 to 10, 2022
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The thirty third meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from February 8 to 10, 2022. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai; Pro
ଫେବୃଆରୀ 10, 2022
Monetary Policy Statement, 2021-22 Resolution of the Monetary Policy Committee (MPC) February 8-10, 2022
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (February 10, 2022) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. The reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue with the accomm
ଫେବୃଆରୀ 10, 2022
Statement on Developmental and Regulatory Policies
This Statement sets out various developmental and regulatory policy measures relating to (i) liquidity measures; (ii) financial markets; (iii) payment and settlement systems and (iv) regulation and supervision. I. Liquidity Measures 1. Extension of Term Liquidity Facility of ₹50,000 crore to Emergency Health Services On May 5, 2021, an on-tap liquidity window of ₹50,000 crore at the repo rate with tenors of up to three years was announced to boost provision of immedia
ଡିସେମ୍ବର 22, 2021
Minutes of the Monetary Policy Committee Meeting, December 6 to 8, 2021
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The thirty second meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from December 6 to 8, 2021. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai; Pro
ଡିସେମ୍ବର 08, 2021
Monetary Policy Statement, 2021-22 Resolution of the Monetary Policy Committee (MPC) December 6-8, 2021
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (December 8, 2021) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. The reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue with the accommo
ଅକ୍ଟୋବର 22, 2021
Minutes of the Monetary Policy Committee Meeting, October 6 to 8, 2021
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The thirty first meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from October 6 to 8, 2021. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai; Prof.
ଅକ୍ଟୋବର 08, 2021
Monetary Policy Statement, 2021-22 Resolution of the Monetary Policy Committee (MPC) October 6-8, 2021
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (October 8, 2021) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. The reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue with the accommod
ଅଗଷ୍ଟ 20, 2021
Minutes of the Monetary Policy Committee Meeting, August 4 to 6, 2021
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The thirtieth meeting of the Monetary Policy Committee (MPC), constituted under section 45 Z B of the Reserve Bank of India Act, 1934, was held from August 4 to 6, 2021. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Professor, Indira Gandhi Institute of Development Research, Mumbai; Prof. Jayanth R.
ଅଗଷ୍ଟ 06, 2021
Monetary Policy Statement, 2021-22 Resolution of the Monetary Policy Committee (MPC) August 4-6, 2021
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (August 6, 2021) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue with
ଅଗଷ୍ଟ 06, 2021
Statement on Developmental and Regulatory Policies
This Statement sets out various developmental measures including liquidity and regulatory measures. I. Liquidity Measures 1. On Tap TLTRO Scheme – Extension of Deadline With a view to increasing the focus of liquidity measures on revival of activity in specific sectors that have both backward and forward linkages and having multiplier effects on growth, the RBI had announced the On Tap TLTRO scheme on October 9, 2020 for five sectors which was available up to March 31
ଜୁନ 18, 2021
Minutes of the Monetary Policy Committee Meeting, June 2 to 4, 2021
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The twenty ninth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from June 2 to 4, 2021. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Professor, Indira Gandhi Institute of Development Research, Mumbai; Prof. Jayanth R.
ଜୁନ 14, 2021
Extension of time to give feedback and Suggestions to the Group of Advisors to Regulations Review Authority 2.0
The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0), initially for a period of one year from May 01, 2021, vide press release dated April 15, 2021. 2. A Group of Advisors (GoA) to assist RRA was also constituted on May 07, 2021. To undertake its preparatory work, the Group has invited feedback and suggestions from all regulated entities, industry bodies and other stakeholders. The last date for sending the suggestion and feedback to the Group
ଜୁନ 04, 2021
Monetary Policy Statement, 2021-22 Resolution of the Monetary Policy Committee (MPC) June 2-4, 2021
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (June 4, 2021) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue with t
ଜୁନ 04, 2021
Statement on Developmental and Regulatory Policies
This Statement sets out various developmental and regulatory policy measures on (i) liquidity management and support to targeted sectors; (ii) regulation and supervision; (iii) financial markets; and (iv) payment systems. I. Liquidity Measures 1. On-tap Liquidity Window for Contact-intensive sectors On May 5, 2021, it was decided to open an on-tap liquidity window of ₹50,000 crore with tenors of up to three years at the repo rate till March 31, 2022 to boost provision
ଜୁନ 05, 2021
RBI releases the results of forward looking Surveys
The Reserve Bank of India today released on its website the results of the following Surveys: Consumer Confidence Survey (CCS) – May 2021 Inflation Expectations Survey of Households (IESH) – May 2021 Survey of Professional Forecasters on Macroeconomic Indicators– Round1 70th The Survey results are based on the feedback received from the respondents to the Surveys and do not necessarily reflect the views of the Reserve Bank of India. Ajit Prasad Director Press Release:
ଜୁନ 04, 2021
On-Tap Liquidity Window for Contact-Intensive Sectors
1. As announced in the Statement on Developmental and Regulatory Policies on June 04, 2021 it has been decided to open a separate liquidity window of ₹15,000 crore with tenors of up to three years at the repo rate till March 31, 2022 for certain contact-intensive sectors i.e., hotels and restaurants; tourism - travel agents, tour operators and adventure/heritage facilities; aviation ancillary services - ground handling and supply chain; and other services that include
ମଇ 07, 2021
On-Tap Term Liquidity Facility to Ease Access to Emergency Health Services
As announced on May 05, 2021 in the Statement by Shri Shaktikanta Das, Governor, Reserve Bank of India (RBI), it has been decided to open an on-tap liquidity window of ₹50,000 crore with tenors of up to three years at the repo rate till March 31, 2022 to boost provision of immediate liquidity for ramping up COVID-related healthcare infrastructure and services in the country. Under the scheme, banks can provide fresh lending support to a wide range of entities includin
ମଇ 18, 2021
Review of Ways and Means Advances Scheme of State Governments/ UTs
Based on the recommendations of the Advisory Committee on Ways and Means Advances (WMA) to State Governments, 2021 (Chairman: Shri Sudhir Shrivastava), the Reserve Bank of India (RBI) has revised the WMA Scheme of States and Union Territories (UTs) as under: WMA Limit The WMA limit arrived at by the Committee based on total expenditure of States/ UTs, works out to ₹47,010 crore. As the effect of the COVID-19 pandemic is still prevalent, the existing interim WMA limit
ଅପ୍ରେଲ 22, 2021
Minutes of the Monetary Policy Committee Meeting, April 5-7, 2021
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The twenty eighth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from April 5 to 7, 2021. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Professor, Indira Gandhi Institute of Development Research, Mumbai; Prof. Jayanth R
ଅପ୍ରେଲ 07, 2021
Statement on Developmental and Regulatory Policies
This Statement sets out various developmental and regulatory policy measures on (i) liquidity management and support to targeted sectors; (ii) regulation and supervision; (iii) debt management; (iv) payment and settlement systems; (v) financial Inclusion; and (vi) external commercial borrowings. I. Liquidity Measures 1. TLTRO on Tap Scheme – Extension of Deadline With a view to increasing the focus of liquidity measures on revival of activity in specific sectors that
ଅପ୍ରେଲ 07, 2021
Resolution of the Monetary Policy Committee (MPC) April 5-7, 2021
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (April 7, 2021) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue with
ଅପ୍ରେଲ 07, 2021
On Tap Targeted Long-Term Repo Operations - Extension of Deadline
As announced in the Statement on Developmental and Regulatory Policies on April 07, 2021, the on Tap TLTRO Scheme, which was made available up to March 31, 2021, is now being further extended by a period of six months i.e., up to September 30, 2021 with a view to increasing the focus of liquidity measures on revival of activity in specific sectors. 2. All other terms and conditions of the scheme remain unchanged. (Yogesh Dayal) Chief General Manager Press Release: 202
ଫେବୃଆରୀ 23, 2021
Minutes of the Monetary Policy Committee Meeting February 3-5, 2021
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The twenty seventh meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from February 3 to 5, 2021. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Professor, Indira Gandhi Institute of Development Research, Mumbai; Prof. Jayan
ଫେବୃଆରୀ 05, 2021
Statement on Developmental and Regulatory Policies
This Statement sets out various developmental and regulatory policy measures on (i) liquidity management and support to targeted sectors; (ii) regulation and supervision (iii) deepening financial markets; (iv) upgrading payment and settlement systems and (v) consumer protection. I. Liquidity Measures 1. TLTRO on Tap Scheme – Inclusion of NBFCs With a view to increasing the focus of liquidity measures on revival of activity in specific sectors that have both backward a
ଫେବୃଆରୀ 05, 2021
Monetary Policy Statement, 2020-21 Resolution of the Monetary Policy Committee (MPC) February 3-5, 2021
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (February 5, 2021) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue wi
ଜାନୁଆରୀ 08, 2021
Resumption of Normal Liquidity Management Operations
On February 06, 2020, the Reserve Bank had announced a revised Liquidity Management Framework that was simplified and clearly communicated the objectives and toolkit for liquidity management. 2. In view of the outbreak of COVID-19, the rapidly evolving financial conditions and taking into account the impact of disruptions due to the lockdown and social distancing, it was decided to temporarily suspend the revised liquidity management framework and the window for Fixed
ଡିସେମ୍ବର 23, 2020
RBI Governor meets MD & CEOs of Public and Private Sector Banks over Video Conference
The Governor, Reserve Bank of India (RBI) held meetings with the MD/CEOs of Public Sector Banks and select Private Sector Banks on December 22 and 23, 2020 respectively through video conference. The meetings were attended by Deputy Governors, RBI. In his opening remarks, the Governor touched upon the current economic situation and emphasized the importance of the banking sector in supporting the ongoing revival in economic activities. With specific reference to the fi
ଡିସେମ୍ବର 18, 2020
Minutes of the Monetary Policy Committee Meeting December 2 to 4, 2020
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The twenty sixth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from December 2 to 4, 2020. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Professor, Indira Gandhi Institute of Development Research, Mumbai; Prof. Jayanth
ଡିସେମ୍ବର 04, 2020
Monetary Policy Statement, 2020-21 Resolution of the Monetary Policy Committee (MPC) December 2-4, 2020
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (December 4, 2020) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue wi
ଡିସେମ୍ବର 04, 2020
Statement on Developmental and Regulatory Policies
This Statement sets out various developmental and regulatory policy measures to i) enhance liquidity support to targeted sectors of the economy with linkages to other sectors; (ii) deepen financial markets; (iii) conserve capital among banks and NBFCs through regulatory initiatives; (iv) strengthen supervision through the audit function; (v) facilitate external trade by improving ease of doing business for exporters; and (vi) upgrade payment system services so as to e
ନଭେମ୍ବର 02, 2020
RBI Increases Market Trading Hours
The trading hours for various markets regulated by the Reserve Bank were amended effective from April 7, 2020 in view of the operational dislocations and elevated levels of health risks posed by COVID-19. With the graded roll-back of the lockdown and easing of restrictions on movement of people and functioning of offices, it has been decided to restore trading hours for regulated markets in a phased manner. Accordingly, with effect from November 9, 2020, the trading h
ଅକ୍ଟୋବର 23, 2020
Minutes of the Monetary Policy Committee Meeting October 7 to 9, 2020
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The twenty fifth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from October 7 to 9, 2020. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Senior Advisor, National Council of Applied Economic Research, Delhi; Dr. Ashima Goyal, Professor, Indira Gandhi Institute of Development Research, Mumbai; Prof. Jayanth
ଅକ୍ଟୋବର 09, 2020
Monetary Policy Statement, 2020-21 Resolution of the Monetary Policy Committee (MPC) October 7-9, 2020
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (October 9, 2020) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue wit
ଅକ୍ଟୋବର 09, 2020
Statement on Developmental and Regulatory Policies
Even as the threat of COVID-19 is yet to abate, with the gradual lifting of restrictions on movement of people and opening of business establishments across the country, a resumption of economic activities is well underway. The role of the financial sector during this phase of recovery will continue to remain important in facilitating businesses to reach the pre-COVID levels of economic activity. The focus of the Reserve Bank’s regulatory actions over the past few mon
ସେପ୍ଟେମ୍ବର 29, 2020
Extension of Interim Relaxation in WMA limits and OD regulations
With a view to provide greater comfort to State Governments in undertaking COVID-19 containment and mitigation measures, and to enable them to plan their market borrowings, RBI had announced an increase in WMA limit of the States/UTs by 60% over and above the level as on March 31, 2020, vide its press release dated April 17, 2020. Further, in order to provide flexibility to State Governments to tide over their cash flow mismatches, the overdraft (OD) regulations were
ସେପ୍ଟେମ୍ବର 28, 2020
Marginal Standing Facility (MSF) - Extension of Relaxation
On March 27, 2020 banks were allowed to avail of funds under the marginal standing facility (MSF) by dipping into the Statutory Liquidity Ratio (SLR) by up to an additional one per cent of net demand and time liabilities (NDTL), i.e., cumulatively up to 3 per cent of NDTL. This facility, which was initially available up to June 30, 2020 was extended on June 26, 2020 up to September 30, 2020, in view of disruptions imposed by COVID-19. This dispensation provides increa
ଅଗଷ୍ଟ 31, 2020
RBI Announces Measures to Foster Orderly Market Conditions
While announcing special open market operations on August 25, 2020 the Reserve Bank stated that it would continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure orderly functioning of financial markets. 2. Recently, market sentiment has been impacted by concerns relating to the inflation outlook and the fiscal situation amidst global developments that have firmed up yields abroad. 3. On the outlook for inflation, the res
ଅଗଷ୍ଟ 20, 2020
Minutes of the Monetary Policy Committee Meeting August 4 to 6, 2020
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The twenty fourth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held from August 4 to 6, 2020. 2. The meeting was attended by all the members – Dr. Chetan Ghate, Professor, Indian Statistical Institute; Dr. Pami Dua, former Director, Delhi School of Economics; Dr. Ravindra H. Dholakia, former Professor, Indian Institute of Management
ଅଗଷ୍ଟ 07, 2020
Reserve Bank announces constitution of an Expert Committee
As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on August 6, 2020, the Reserve Bank has announced a ‘Resolution Framework for Covid19-related Stress’, as a special window under the Prudential Framework on Resolution of Stressed Assets issued on June 7, 2019. The Resolution Framework inter alia envisages constitution of an Expert Committee by the Reserve Bank to make recommendations on the required fin
ଅଗଷ୍ଟ 06, 2020
RBI releases the results of forward looking Surveys
The Reserve Bank of India today released on its website the results of the following Surveys: Consumer Confidence Survey (CCS) – July 2020 Inflation Expectations Survey of Households (IESH) – July 2020 OBICUS Survey on manufacturing sector – Q4:2019-20 Industrial Outlook Survey of the Manufacturing Sector for Q1:2020-21 Survey of Professional Forecasters on Macroeconomic Indicators– Round1 65th The Survey results are based on the feedback received from the respondents
ଅଗଷ୍ଟ 06, 2020
Introduction of Automated Sweep-In and Sweep-Out (ASISO) Facility for end of the day LAF Operations
In order to optimise human resource deployment in the context of disruptions caused by COVID-19 and to provide eligible LAF/MSF participants greater flexibility in managing their end of the day cash reserve ratio (CRR) balances, the Reserve Bank has decided to provide an optional automated sweep-in and sweep-out (ASISO) facility in its e-Kuber system. 2. Accordingly, banks will be able to set the amount (specific or range) that they wish to keep as balances in their c
ଅଗଷ୍ଟ 06, 2020
Monetary Policy Statement, 2020-21 Resolution of the Monetary Policy Committee (MPC) August 4 to 6, 2020
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (August 6, 2020) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent. The MPC also decided to continue with
ଅଗଷ୍ଟ 07, 2020
Statement on Developmental and Regulatory Policies
This Statement sets out various developmental and regulatory policy measures to enhance liquidity support for financial markets and other stakeholders; further easing of financial stress caused by COVID-19 disruptions while strengthening credit discipline; improve the flow of credit; deepen digital payments; augment customer safety in cheque payments; and facilitate innovation across the financial sector by leveraging on technology through an Innovation Hub. I. Liquid
ଜୁନ 22, 2020
Reserve Bank sensitises members of public on safe use of digital transactions
Safety and security of digital transactions are of paramount importance to their users. The Reserve Bank has put in place many mechanisms to ensure the same by continuously and actively undertaking digital awareness campaigns in the print and Audio-Visual media, including through the Bank’s flagship programme “RBI Kehta Hai”. In recent days there are reports of users falling prey to fraudsters who are luring them on fictitious pretexts, such as alleged completion of K
ଜୁନ 05, 2020
Government Stock - Auction Results: Cut-off
5.09% GS 2022 5.79% GS 2030 GOI FRB 2031 7.19% GS 2060 I. Notified Amount ₹ 3000 cr ₹ 18000 cr ₹ 4000 cr ₹ 5000 cr II. Cut off Price / Implicit Yield at cut-off 101.69/4.1273% 99.44/5.8645 98.40/4.6916% 107.61/6.6443% III. Amount accepted in the auction ₹ 5000 cr * ₹ 18000 cr ₹ 4000 cr ₹ 7000 cr * IV. Devolvement on Primary Dealers Nil Nil Nil Nil *Green Shoe option of ₹ 2000 cr. each has been exercised in 5.09% GS 2022 and 7.19% GS 2060 Ajit Prasad Director Press Rel
ମଇ 22, 2020
Statement on Developmental and Regulatory Policies
This Statement sets out various developmental and regulatory policy measures to improve the functioning of markets and market participants; measures to support exports and imports; efforts to further ease financial stress caused by COVID-19 disruptions by providing relief on debt servicing and improving access to working capital; and steps to ease financial constraints faced by state governments. I. Measures to Improve the Functioning of Markets These measures are int
ମଇ 22, 2020
Monetary Policy Statement, 2020-21: Resolution of the Monetary Policy Committee (MPC) May 20 to 22, 2020
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (May 22, 2020) decided to: reduce the policy repo rate under the liquidity adjustment facility (LAF) by 40 bps to 4.0 per cent from 4.40 per cent with immediate effect; accordingly, the marginal standing facility (MSF) rate and the Bank Rate stand reduced to 4.25 per cent from 4.65 per cent; and the reverse repo rate under the LAF
ମଇ 08, 2020
Revised Issuance Calendar for Marketable Dated Securities for the remaining period of H1 (May 11 - September 30, 2020)
After reviewing the cash position and requirements of the Central Government, Government of India in consultation with the Reserve Bank of India, has decided to modify the indicative calendar for issuance of Government dated securities for the remaining part of the first half of the fiscal 2020-21 (May 11 - Sept 30, 2020). The revised issuance calendar is as under: Calendar for Issuance of Government of India Dated Securities (May 11, 2020 to September 30, 2020) S. No
ଅପ୍ରେଲ 30, 2020
RBI Extends Truncated Market Hours
There is a likelihood of extension of lockdown in major cities like Mumbai or easing of the restrictions in a limited manner. In view of persisting operational dislocations and elevated levels of health risks warranting continuing restrictions on movement, work from home arrangements and business continuity plans, it has been decided that the amended trading hours i.e., from 10.00 am to 2.00 pm for RBI-regulated markets that were effective till the close of business o
ଅପ୍ରେଲ 30, 2020
RBI extends Fixed Rate Reverse Repo and MSF window
Reserve Bank had vide Press Release 2019-2020/2147 dated March 30, 2020 extended the window timings of Fixed Rate Reverse Repo and MSF operations. In view of the continuing disruptions caused by COVID-19, it has been decided to continue with the revised timings till further notice. (Yogesh Dayal) Chief General Manager Press Release: 2019-2020/2295
ଅପ୍ରେଲ 28, 2020
RBI Employees contribute ₹7.30 crore to PM CARES Fund
The COVID-19 pandemic and the related dislocation in normal economic activity has severely affected the economically weaker sections of the society and their means of livelihood. To help the people affected by any kind of emergency or distress situation, like the one posed by the COVID-19 pandemic, Government of India has set up a public charitable trust named Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) to receive contri
ଅପ୍ରେଲ 27, 2020
RBI Announces ₹ 50,000 crore Special Liquidity Facility for Mutual Funds (SLF-MF)
Heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom. The stress is, however, confined to the high-risk debt MF segment at this stage; the larger industry remains liquid. 2. The RBI has stated that it remains vigilant and will take whatever steps are necessary to mitig
ଅପ୍ରେଲ 20, 2020
Review of WMA Limit for Government of India for remaining part of the first half of the Financial Year 2020-21 (April 2020 to September 2020)
To tide over the situation arising from the outbreak of the COVID-19 pandemic, it has been decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the remaining part of first half of the financial year 2020-21 (April 2020 to September 2020) will be revised to ₹ 2,00,000 crore. (Yogesh Dayal) Chief General Manager Press Release: 2019-2020/2249
ଅପ୍ରେଲ 17, 2020
Reserve Bank Announces Targeted Long-Term Repo Operations 2.0 (TLTRO 2.0)
As announced today (17.04.2020) and set out in Governor’s Statement, the Reserve Bank of India (RBI) has sought to engender conducive financial conditions and normal functioning of financial markets and institutions by providing adequate system level liquidity as well as targeted liquidity provision to sectors and entities experiencing liquidity constraints and/or hindrances to market access. In order to channel liquidity to small and mid-sized corporates, including n
ଅପ୍ରେଲ 17, 2020
Review of Limits of Way and Means Advances (WMA) of States/UTs
RBI had announced an increase in the WMA limit of the States on April 1, 2020. With a view to providing greater comfort to the States to undertake COVID-19 containment and mitigation efforts and enable them to better plan their market borrowings, it has been decided to increase the WMA limit of the States by 60% over and above the level as on March 31, 2020 The increased limit will be available till September 30, 2020. (Yogesh Dayal) Chief General Manager Press Releas
ଅପ୍ରେଲ 16, 2020
Conversion/Switch of Government of India (GoI)’s Securities
As per the Issuance Calendar for Marketable Dated Securities, auction for switches are scheduled on the third Monday of every month. However, keeping in view the extraordinary circumstances on account of COVID-19 outbreak, the Reserve Bank of India in consultation with the Government of India has decided not to conduct the switch auction in the month of April 2020. Ajit Prasad Director Press Release: 2019-2020/2229
ଅପ୍ରେଲ 16, 2020
RBI reviews the Market Hours
In order to minimise risks arising due to the unprecedented situation created by the COVID-19 outbreak, the trading hours for various RBI regulated markets were amended as 10.00 am to 2.00 pm effective from April 7, 2020 (Tuesday) till the close of business hours on April 17, 2020 (Friday), vide its press release dated April 3, 2020. In view of the Government of India’s order that the lockdown will continue to be in force till May 3, 2020 (Sunday), it has been decided
ଅପ୍ରେଲ 15, 2020
Reserve Bank Announces Fourth Targeted Long Term Repo Operation (TLTRO)
As announced in the Statement of Developmental and Regulatory Policies on March 27, 2020, the Reserve Bank will conduct TLTROs of up to three-year tenor of appropriate sizes for a total amount of up to ₹ 1,00,000 crore. So far, TLTROs for ₹ 75,000 crore have been conducted in three tranches. It has now been decided to conduct the next TLTRO operation for ₹ 25,000 crore. The details of the operation are as under: Sl. No. Date of operation Notified Amount (₹ crore) Teno
ଅପ୍ରେଲ 13, 2020
Minutes of the Monetary Policy Committee Meeting March 24, 26 and 27, 2020
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The twenty second meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held during March 24, 26 and 27, 2020 at the Reserve Bank of India, Mumbai; the meeting was originally scheduled for March 31, April 1 and 3, 2020, but was advanced in view of the COVID-19 pandemic. 2. The meeting was attended by all the members – Dr. Chetan Ghate, Profe
ଅପ୍ରେଲ 03, 2020
Reserve Bank announces third Targeted Long Term Repo Operation (TLTRO)
As announced in the Statement of Developmental and Regulatory Policies on March 27, 2020, the Reserve Bank will conduct TLTROs of up to three years tenor of appropriate sizes for a total amount of up to ₹ 1,00,000 crores. So far, TLTROs for ₹ 50,000 crores have been conducted in two tranches. It has now been decided to conduct another TLTRO operation for ₹ 25,000 crores. The details of the operation are as under: Sl. No. Date of operation Notified Amount (₹ crore) Ten
ଅପ୍ରେଲ 03, 2020
RBI Notifies Changes in Market Hours
The unprecedented situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing, restrictions on movement of people and non-essential activities, work from home arrangements and business continuity plans. The resultant dislocations have adversely impacted the functioning of financial markets. Staff and IT resources have been severely affected, posing operational and logistic risks. The thinning out of activity is impacting market liquidity a
ଅପ୍ରେଲ 01, 2020
RBI announces further measures for dealing with the COVID-19 pandemic
1. Extension of realisation period of export proceeds Presently value of the goods or software exports made by the exporters is required to be realized fully and repatriated to the country within a period of 9 months from the date of exports. In view of the disruption caused by the COVID-19 pandemic, the time period for realization and repatriation of export proceeds for exports made up to or on July 31, 2020, has been extended to 15 months from the date of export. Th
ମାର୍ଚ୍ଚ 30, 2020
RBI extends Fixed Rate Reverse Repo and MSF window
In view of the rapidly evolving financial conditions and taking into account the impact of disruptions caused by COVID-19, it has been decided as an interim measure to extend the window timings of Fixed Rate Reverse Repo and MSF operations to provide eligible market participants with greater flexibility in their liquidity management. The new window timings would be as under: Type of operation New Window Timing Old Window Timing Fixed-rate Reverse Repo 09:00 hrs to 23:
ମାର୍ଚ୍ଚ 30, 2020
Reserve Bank Announces Second Targeted Long Term Repo Operation (TLTRO)
As announced in the Statement of Developmental and Regulatory Policies on March 27, 2020, the Reserve Bank will conduct TLTROs of up to three years tenor of appropriate sizes for a total amount of up to ₹ 1,00,000 crore. The first tranche of TLTRO for ₹ 25,000 crores was conducted on March 27, 2020. It has now been decided to conduct another TLTRO for ₹ 25,000 crore. The details of the operation are as under: Sl. No. Date Notified Amount (₹ crore) Tenor Window Timing
ମାର୍ଚ୍ଚ 27, 2020
Reserve Bank announces Targeted Long Term Repo Operations (TLTROs)
1. As announced at the Governor’s press conference today, it has been decided to conduct TLTROs of up to three years of appropriate sizes for a total amount of ₹ 1,00,000 crores. Accordingly, it has been decided to conduct the first tranche for ₹ 25,000 crores today. The details of the operation are as under: Sl. No. Date Notified Amount (₹ crores) Tenor Window Timing Date of Reversal 1 March 27, 2020 25,000 3-year 2.00 PM - 3.00 PM March 24, 2023 2. The funds availed
ମାର୍ଚ୍ଚ 27, 2020
Seventh Bi-monthly Monetary Policy Statement, 2019-20 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (March 27, 2020) decided to: reduce the policy repo rate under the liquidity adjustment facility (LAF) by 75 basis points to 4.40 per cent from 5.15 per cent with immediate effect; accordingly, the marginal standing facility (MSF) rate and the Bank Rate stand reduced to 4.65 per cent from 5.40 per cent; further, consequent upon th
ମାର୍ଚ୍ଚ 27, 2020
Statement on Developmental and Regulatory Policies
This Statement sets out various developmental and regulatory policies that directly address the stress in financial conditions caused by COVID-19. They consist of: (i) expanding liquidity in the system sizeably to ensure that financial markets and institutions are able to function normally in the face of COVID-related dislocations; (ii) reinforcing monetary transmission so that bank credit flows on easier terms are sustained to those who have been affected by the pand
ମାର୍ଚ୍ଚ 26, 2020
RBI enhances auction amount for Repo auction of March 26, 2020 to ₹ 50,000 crores
The Reserve Bank had, vide its press release 2110/2019-2020, advanced the variable rate term repo auction of ₹ 25,000 crores from March 30, 2020 to March 26, 2020. In a partial modification to the above press release, it has been decided to enhance the amount of the auction scheduled for March 26, 2020, i.e., today to ₹ 50,000 crores from ₹ 25,000 crores. All other details regarding the auction would remain the same. There is no change in the auction scheduled for Mar
ମାର୍ଚ୍ଚ 24, 2020
RBI advances variable rate Repo auction scheduled for March 30, 2020 to March 26, 2020 and Temporarily enhances Standing Liquidity Facility for SPDs
The Reserve Bank had announced two variable rate term repo auctions of ₹ 25,000 crore each vide press release 2030/2019-2020 dated March 06, 2020, to be conducted on March 30, 2020 and March 31, 2020, to address any additional demand for liquidity and to provide flexibility to the banking system in year-end liquidity management. As a special case, Standalone Primary Dealers (SPDs) were also allowed to participate in these auctions along with other eligible participant
ମାର୍ଚ୍ଚ 23, 2020
RBI advances the OMO Purchase auction scheduled for March 30, 2020 to March 26, 2020
The Reserve Bank had announced its intent to purchase Government securities under Open Market Operations (OMOs) for an aggregate amount of ₹ 30,000 crores in the month of March 2020 vide, press release dated March 20, 2020. The first tranche is scheduled to be conducted on March 24, 2020 and the second tranche is scheduled for March 30, 2020. On a review of current liquidity and financial conditions, the Reserve Bank has decided to advance the second tranche of purcha
ମାର୍ଚ୍ଚ 23, 2020
RBI to conduct variable rate Term Repos of ₹1,00,000 crores
As a pre-emptive measure to tide over any frictional liquidity requirements on account of dislocations due to COVID-19, the Reserve Bank of India has decided to conduct the following fine-tuning variable rate Repo auctions for ₹1,00,000 crores in two tranches as under: Sl. No. Date Notified Amount (₹ crores) Tenor (days) Window Timing Date of Reversal 1 March 23, 2020 50,000 16-day 3.00 PM – 3.30 PM April 08, 2020 2 March 24, 2020 50,000 16-day 11.00 AM- 11.30 AM Apri
ମାର୍ଚ୍ଚ 20, 2020
RBI Announces OMO Purchase of Government of India Dated Securities
The response to the open market purchase auction conducted on March 20, 2020 has been positive. Meanwhile, with the COVID-19 related dislocations, stress in certain financial market segments is still severe and financial conditions remain tight. The RBI’s endevour is to ensure that all markets segments function normally with adequate liquidity and turnover. Accordingly, on a review of the current liquidity and financial conditions, the Reserve Bank has decided to cond
ମାର୍ଚ୍ଚ 18, 2020
RBI Announces OMO Purchase of Government of India Dated Securities
With the heightening of Covid-19 pandemic risks, certain financial market segments have been experiencing a tightening of financial conditions as reflected in the hardening of yields and widening of spreads. It is important to ensure that all market segments remain liquid and stable, and function normally. Accordingly, on a review of the current liquidity and financial conditions, the Reserve Bank has decided to conduct open market operations on March 20, 2020 (Friday
ମାର୍ଚ୍ଚ 16, 2020
RBI Announces USD/INR Sell Buy Swap
On a review of current financial market conditions and taking into consideration the requirement of US Dollars in the market, it has been decided to undertake another 6-month US Dollar sell/buy swap auction to provide liquidity to the foreign exchange market. The auction will be multiple price based, i.e., successful bids will be accepted at their respective quoted premiums. The details of the auction are as under: Swap Amount (USD Billion) Auction date Auction Time N
ମାର୍ଚ୍ଚ 16, 2020
Availability of Digital Payment Options
In pursuance of its vision to promote digital payments, Reserve Bank of India’s (RBI) endeavour has been to establish state of the art payment systems that are efficient, convenient, safe, secure and affordable. RBI wishes to bring to the notice of the general public that non-cash digital payment options (like NEFT, IMPS, UPI and BBPS) are available round the clock to facilitate fund transfers, purchase of goods / services, payment of bills, etc. In the context of the
ମାର୍ଚ୍ଚ 16, 2020
RBI Announces USD/INR Sell Buy Swaps
Financial markets worldwide are facing intense selling pressures on extreme risk aversion due to the spread of COVID-19 infections, compounded by the slump in international crude prices and a decline in bond yields in advanced economies. Flight to safety has led to spike in volatility across all asset classes, with several emerging market currencies experiencing downside pressures. Mismatches in US dollar liquidity have become accentuated across the world. On a review
ମାର୍ଚ୍ଚ 03, 2020
Recent Developments in Financial Markets
Globally, financial markets have been experiencing considerable volatility, with the spread of the coronavirus triggering risk-off sentiments and flights to safe haven. Spillovers to financial markets in India have largely been contained. Growing hopes of coordinated policy action to mitigate a broader fallout to economic activity has boosted market sentiment today. The Reserve Bank of India is monitoring global and domestic developments closely and continuously and s
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