Press Releases
- On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Monday, January 19, 2026, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,00,000 4 9:30 AM to 10:00 AM January 23, 2026 (Friday) 2. The […]
- In terms of GOI notification F.No.4(4)-B(W&M)/2020 dated October 09, 2020 (SGB 2020-21 Series-X-Issue date January 19, 2021) 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 […]
- The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹13,000 Crore (Face Value). Sr. No. State/UT Amount to be raised (₹ Crore) Tenor (Year) Type of Auction 1. Assam 1000 20 Yield 2. Jammu and Kashmir 500 15 Yield 3. Karnataka 2000 Re-issue of 7.25% Karnataka […]
- Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details: Sr. No. Treasury Bill Notified Amount (₹ crore) Auction Date Settlement Date 1 91-Day 9,000 January 21, 2026 (Wednesday) January 22, 2026 (Thursday) 2 182-Day 12,000 3 364-Day 8,000 Total 29,000 The sale will […]
- 1. Reserve Bank of India – Liabilities and Assets* (₹ Crore) Item 2025 2026 Variation Jan. 10 Jan. 02 Jan. 09 Week Year 1 2 3 4 5 4 Loans and Advances 4.1 Central Government 0 0 0 0 0 4.2 State Governments 14620 35042 13012 -22030 -1608 * Data […]
- The Reserve Bank of India had on October 07, 2025, issued the draft Reserve Bank – Ombudsman Scheme, 2025, seeking feedback from the stakeholders and the public. 2. Feedback received on the draft Scheme has been examined and necessary modifications have been suitably incorporated in the final Scheme. A statement on the feedback received for […]
- (Amount in ₹ Crore) Auction Results 6.01% GS 2030 New GS 2076 I. Notified Amount 18,000 13,000 II. Competitive Bids Received (i) Number 255 134 (ii) Amount 54,460.227 37,390.000 III. Cut-off price / Yield 98.21 100.00 (YTM: 6.4743%) (YTM: 7.4300%) IV. Competitive Bids Accepted (i) Number 83 16 (ii) Amount 17,998.533 […]
- 6.01% GS 2030 New GS 2076 I. Notified Amount ₹18,000 crore ₹13,000 crore II. Cut off Price (₹) / Implicit Yield at cut-off 98.21/6.4743% 7.43% III. Amount accepted in the auction ₹18,000 crore ₹13,000 crore IV. Devolvement on Primary Dealers NIL NIL Ajit Prasad Deputy General Manager (Communications) Press Release: 2025-2026/1934
- The Reserve Bank of India has issued the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 and Directions on Export and Import of Goods and Services, which shall come into force from October 01, 2026. The regulations are primarily principle based and intended to promote ease of doing business, especially for […]
- (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 […]
Notifications
- RESERVE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI 400 001 Notification No. FEMA 23(R)/2026-RB January 13, 2026 Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 In exercise of the powers conferred by Section 7, Section 8, sub-section (6) of Section 10 and sub-section (2) of Section 47 of the […]
- RBI/2025-26/194 A.P. (DIR Series) Circular No. 20 January 16, 2026 All Authorised Dealers, Madam / Sir, Export and Import of Goods and Services The Reserve Bank has comprehensively reviewed the regulations and directions governing export and import of goods and services, under FEMA, 1999, in consultation with stakeholders, and issued Foreign Exchange Management (Export and […]
- RBI/CEPD/2025-26/381 CEPD.PRD.No.S1027/13.01.019/2025-26 January 14, 2026 Reserve Bank of India (Commercial Banks – Internal Ombudsman) Directions, 2026 In exercise of the powers conferred by Section 35A of Banking Regulation Act, 1949, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby, issues the Directions hereinafter […]
- RBI/CEPD/2025-26/382CEPD.PRD.No.S1029/13.01.019/2025-26 January 14, 2026 Reserve Bank of India (Small Finance Banks – Internal Ombudsman) Directions, 2026 In exercise of the powers conferred by Section 35A of Banking Regulation Act, 1949, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby, issues the Directions hereinafter […]
- RBI/CEPD/2025-26/383 CEPD.PRD.No.S1028/13.01.019/2025-26 January 14, 2026 Reserve Bank of India (Payments Banks – Internal Ombudsman) Directions, 2026 In exercise of the powers conferred by Section 35A of Banking Regulation Act, 1949, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby, issues the Directions hereinafter […]
- RBI/CEPD/2025-26/384 CEPD.PRD.No.S1030/13.01.019/2025-26 January 14, 2026 Reserve Bank of India (Non-Banking Financial Companies – Internal Ombudsman) Directions, 2026 In exercise of the powers conferred by Section 45L read with 45M of the Reserve Bank of India Act, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to […]
- RBI/CEPD/2025-26/385 CEPD.PRD.No.S1031/13.01.019/2025-26 January 14, 2026 Reserve Bank of India (Non-Bank Prepaid Payment Instruments Issuers – Internal Ombudsman) Directions, 2026 In exercise of the powers conferred by Section 18 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to […]
- RBI/CEPD/2025-26/386 CEPD.PRD.No.S1032/13.01.019/2025-26 January 14, 2026 Reserve Bank of India (Credit Information Companies – Internal Ombudsman) Directions, 2026 In exercise of the powers conferred by Section 11 of the Credit Information Companies (Regulation) Act, 2005, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby, […]
- RBI/2025-26/193 FIDD.CO.FSD.BC.No.10/05.02.001/2025-26 January 13, 2026 The Chairman/Managing Director/Chief Executive OfficerAll Public Sector Banks, Private Sector Banks andSmall Finance Banks Madam/Dear Sir, Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC) during the financial year 2025-26 Please refer to our circular FIDD.CO.FSD.BC.No.8/05.02.001/2024-25 dated August 06, 2024 […]
- RESERVE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI 400 001 No. FEMA 8(R)/2026-RB January 6, 2026 Foreign Exchange Management (Guarantees) Regulations, 2026 In exercise of the powers conferred by sub-section (2) of Section 6 and sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession […]
SPEECHES
- Distinguished guests and my colleagues, Namaste and a very good afternoon! It is a privilege to address this illustrious gathering at College of Supervisors’ Third Annual Global Conference convened around the theme of ‘Adapting the Regulation and Supervision to the Digital Age’. 2. Digitalisation has brought significant benefits such as efficiency and productivity gains, improved […]
- Respected Governor; Deputy Governor, Shri S C Murmu; Chairman, Academic Council, College of Supervisors, Shri Arijit Basu; and members of the Academic Council of CoS Director, CoS, Shri R. Subramanian; Distinguished speakers, panellists and Managing Directors & CEOs of Regulated Entities; My fellow colleagues from RBI, Ladies and Gentlemen. A very good morning to all […]
- Good morning and Namaskar. It is my privilege to address the third annual global conference of the College of Supervisors. 2. Advancement in technology is impacting all spheres of human activity – personal, business and public. Financial system is no exception. Technology has revolutionised banking over the years. Yet, today's landscape is distinct – the […]
- I. Introduction Distinguished industry leaders, colleagues and guests. 1. It is a privilege to be able to stand here and talk to such a learned gathering and I am thankful to Mint for inviting me. 2. Money, as we know it, has been a central pillar of human society for centuries, enabling trade, facilitating economic […]
- Participants from the Reserve Bank of India:Shri. Sanjay Malhotra – Governor, Reserve Bank of IndiaShri T. Rabi Sankar – Deputy Governor, Reserve Bank of IndiaShri Swaminathan J – Deputy Governor, Reserve Bank of IndiaDr. Poonam Gupta – Deputy Governor, Reserve Bank of IndiaShri Shirish Chandra Murmu – Deputy Governor, Reserve Bank of IndiaDr. Ajit Ratnakar […]
- 1. The legendary cricketer, the Very Very Special Laxman ji; Shri P D Singh, CEO of Standard Chartered Bank, India & South Asia, distinguished leaders from across the banking, financial and capital markets ecosystem, colleagues, ladies and gentlemen. 2. It is a pleasure to be with you this evening at “Success Through Synergy”. This annual […]
- 1. Shri Harsh Bhanwala and other distinguished members on the Board of MFIN; CEO, MFIN, Dr. Alok Misra; Director, Bankers Institute of Rural Development, Dr. Nirupam Mehrotra; esteemed industry leaders, distinguished guests, awardees of the ASCEND programme, ladies, and gentlemen. Good evening. 2. It is a pleasure to join you today at the launch of […]
- Good morning, Dr. Mahendra Dev, Chairman, EAC-PM, Dr. Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation (MoSPI), officers from MoSPI, fellow economists, and fellow policymakers. It is my privilege to be a part of this pre-release consultative workshop. I would like to recognise the leadership of Dr. Saurabh Garg in bringing credibility, ownership, and, […]
- Prof. Ram Singh, Director, Delhi School of Economics, Prof. Pami Dua, distinguished faculty of the Delhi School of Economics, assembled dignitaries and dear students. Good afternoon. 2. I am pleased to be here at the Delhi School of Economics (DSE) to deliver the Second V.K.R.V. Rao Memorial lecture. The late Professor Rao was not only […]
TENDERS
- Reserve Bank of India, Patna (the Bank) invites E-Tender from eligible and willing firms for undertaking “Providing, fixing, testing and commissioning Glass fountain (Water Curtain type) in Waiting Area at 2nd floor of Bank’s Main Office Premises, RBI Patna”. The work is estimated to cost ₹9,28,620/- (including GST) only. 2. This notice is being published […]
- E-Tender No: RBI/Bengaluru Regional Office/Estate/49/25-26/ET/766 (Pest control at Mob and colonies) The ‘Pre-Bid Meeting’ for the captioned works were conducted as per schedule at 03.00 PM on January 13, 2026 at Estate department, 2nd Floor, Reserve Bank of India, Bengaluru. The following staff members of RBI and representatives of the prospective bidders were present during […]
- Reserve Bank of India, Bengaluru invites e-Tender through MSTC website from eligible empanelled vendors for Construction of RCC Watch Tower, Main Office Premises, RBI, Bengaluru. The e-Tender along with the detailed tender notice is available on the MSTC website at https://www.mstcecommerce.com/eprocn and the website of the RBI at https://www.rbi.org.in under the menu “Tenders”. 2. All […]
- E-Tender No: RBI/Bengaluru Regional Office/Estate/47/25-26/ET/755 (Housekeeping at Osborne Road Quarters) E-Tender No: RBI/Bengaluru Regional Office/Estate/48/25-26/ET/765 (Housekeeping at Koramangala Quarters) The ‘Pre-Bid Meeting’ for the captioned works were conducted as per schedule at 11.00 AM on January 13, 2026 at Conference Room, 2nd Floor, Reserve Bank of India, Bengaluru. The following staff members of RBI and […]
- Reserve Bank of India, Thiruvananthapuram (hereinafter referred to as ‘the Bank’ or ‘RBI’) invites e-tenders in two parts (Part I – Techno- commercial Bid & Part II – Price Bid) for Providing Services for Horticulture and Gardening Services under Annual Maintenance Contract (AMC) at Bank's Main Office Premises (Bakery Junction) and residential colonies (Kowdiar, Thamalam, […]
- Reserve Bank of India, Thiruvananthapuram (hereinafter referred to as ‘the Bank’ or ‘RBI’) invites e-tenders in two parts (Part I – Techno- commercial Bid & Part II – Price Bid) for Providing Services for Housekeeping Services under Annual Maintenance Contract (AMC) at Bank's Main Office Premises (Bakery Junction) and residential colonies (Kowdiar, Thamalam, Plamoodu and […]
- e-tender no: RBI/GUWAHATI/ESTATE/8/25-26/ET/750 Reserve Bank of India, Guwahati invited e-tender under Two Bid system (Techno-Commercial & Financial Bid) through RBI's website (www.rbi.org.in) and MSTC Portal (www.mstcecommerce.com) for the captioned work: 2. It may be noted that the last date for submission of e-tenders through MSTC New Common Portal (www.mstcecommerce.com) was up to 14:00 Hours on […]
- This is an open tender enquiry. However, only those bidders/ vendors/ agencies who are qualified for the work as per qualifications criteria stipulated in the tender are eligible to participate in this tender. Bidders are advised to upload the documents on MSTC website in support of their eligibility for the tender. Sr. No. Particulars Details […]
- 1. Sealed Bids are invited from OEM (M/s AAL) / OEM authorized Service Providers for Comprehensive Annual Maintenance Contract for 2 X 20 KVA UPS System installed at Reserve Bank of India, Plot No. 16 & 17, IT Park, Dehradun. The "Terms and conditions" are given below. 2. The bid should be submitted in a […]
- Reserve Bank of India, Kochi invites two-part tender by e-tender mode from empaneled contractors of RBI Kochi for the work of “Renovation of Passage Area and Toilets (First, second and third floors), of Office Building, RBI Kochi”. The tendering would be done through the e-Tendering portal of MSTC Ltd (https://www.mstcecommerce.com/eprochome/rbi). All interested eligible empaneled contractors […]
PUBLICATION
- Preface It has been more than two decades since the licensing of Urban Co-operative Banks (UCBs) was put on hold by Reserve Bank of India (RBI), as it was found that a large number of the newly licensed UCBs became financially unsound within a short period. As the operating environment has changed and the UCB Sector has transformed significantly since then, issuance of any new UCB license requires fresh licensing guidelines for the Sector after a thorough discussion on the subject. Therefore, following announcement was made in the Monetary Policy Statement by the Governor on October 1, 2025. “Since 2004, […]
- A. Certificates of Authorisation issued by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007 for Setting up and Operating Payment System in India The Payment and Settlement Systems Act, 2007 along with the Board for Regulation and Supervision of Payment and Settlement Systems Regulations, 2008 and the Payment and Settlement Systems Regulations, 2008 have come into effect from 12th August 2008. The list of 'Payment System Operators’ authorised by the Reserve Bank of India to set up and operate in India under the Payment and Settlement Systems Act, 2007 is as under: Sr. No. Name […]
- The Reserve Bank of India (RBI) has created a Supervisory Data Quality Index (sDQI) that measures data quality in terms of the Accuracy, Timeliness, Completeness and Consistency in the submission of returns. The objective of sDQI is to assess the adherence to the principles enunciated in the Master Direction on Filing of Supervisory Returns 2024. The sDQI score of Scheduled Commercial Banks (SCBs) has improved in September 2025 as compared to June 2025. Trends in sDQI Scores of SCBs Bank Group June 2025 September 2025 Accuracy Completeness Timeliness Consistency sDQI Score Accuracy Completeness Timeliness Consistency sDQI Score Scheduled Commercial Banks […]
- Contents Sections I. Monetary Policy II. 620th Meeting of the Central Board III. Regulation IV. Governor’s Meeting V. Financial Inclusion VI. Publication VII. Data Releases and Surveys Volume XXI | Issue 9 | December 2025 MONETARY & CREDIT INFORMATION REVIEW Note from the Editor December 2025 marked a defining moment for India’s macroeconomic and financial landscape, as reflected in the Governor’s Monetary Policy Statement, the 620th Meeting of the Central Board, and continued engagement with bank leadership. A rare “Goldilocks” phase of robust growth and exceptionally low inflation enabled the Monetary Policy Committee to unanimously reduce the policy repo rate […]
- (₹ crore) Items 2022-23 2023-24 2024-25 H1: 2025-26 1 2 3 4 5 A. Total Income 3,27,070 4,11,632 4,47,203 2,45,836 of which: (i) Fund Based Income 2,83,262 3,77,011 4,12,886 2,26,312 (86.6) (91.6) (92.3) (92.1) (ii) Fee Based Income 14,646 19,093 21,106 12,242 (4.5) (4.6) (4.7) (5.0) B. Expenditure 2,32,665 2,84,049 3,41,343 1,80,446 (i) Financial Expenditure 1,41,426 1,70,805 2,07,326 1,12,702 (60.8) (60.1) (60.7) (62.5) of which: Interest payment 72,915 96,303 1,00,928 52,023 (31.3) (33.9) (29.6) (28.8) (ii) Operating Expenditure 48,333 60,318 70,617 40,445 (20.8) (21.2) (20.7) (22.4) (iii) Others 42,906 52,926 63,400 27,299 (18.4) (18.6) […]
- (₹ crore) Institutions Loans* 2023-24 2024-25 H1:2024-25 H1:2025-26 S D S D S D S D 1 2 3 4 5 6 7 8 9 A. All India financial institutions (1 to 5) 9,58,204 8,73,610 9,61,614 8,76,084 3,73,911 2,89,242 3,60,509 3,18,540 1. NABARD 4,42,156 4,36,033 4,52,474 4,48,488 1,65,768 1,05,670 96,669 1,32,766 2. SIDBI 3,02,581 2,94,942 2,45,980 2,35,243 1,13,520 1,14,244 1,19,742 1,15,015 3. EXIM Bank 91,672 84,696 1,17,771 1,20,922 46,180 41,910 46,488 47,612 4. NHB@ 38,738 32,103 44,327 33,369 17,713 12,745 33,135 7,084 5. NaBFID 83,057 25,836 1,01,063 38,062 30,729 14,672 64,475 16,062 B. Specialised financial institutions (6, 7 and 8) […]
- (₹ crore) Sl. No. Name of the Primary Dealers Year Income Expenditure Profit before tax Profit after tax Return on networth (per cent) Interest income (including discount income) Trading profit Other income Total income Interest expenses Other expenses Total expenditure 1 2 3 4 5 6 7 8 9 10 11 12 13 1 STCI Primary Dealer Ltd. 2023-24 1,041 139 2 1,182 944 43 987 266 198 22.4 2024-25 1,127 217 2 1,346 987 53 1,040 341 254 23.3 H1:2025-26 596 21 1 618 470 26 496 54 39 6.4 2 SBI DFHI Ltd. 2023-24 […]
- (₹ crore) Sr. No. Name of the Primary Dealers 2021-22 2022-23 2023-24 2024-25 H1: 2025-26 2021-22 2022-23 2023-24 2024-25 H1: 2025-26 Capital Funds (Tier I + Tier II+ Eligible Tier III) CRAR (Per cent) 1 2 3 4 5 6 7 8 9 10 11 12 1 STCI Primary Dealer Ltd. 777 790 902 1,177 1,251 32.3 21.8 29.1 30.4 26.4 2 SBI DFHI Ltd. 1,311 1,247 1,426 1,738 1,832 42.4 46.1 36.0 36.2 29.0 3 ICICI Securities Primary Dealership Ltd. 1,899 1,792 1,903 2,332 2,607 47.7 42.9 26.6 31.8 26.5 4 PNB Gilts Ltd. 1,426 1,238 1,313 1,517 1,629 […]
- AA Account Aggregator AAC Advances against Commodities ACB Audit Committee of the Board AD Authorised Dealer AePS Aadhaar Enabled Payment System AEs Advanced Economies AI Artificial Intelligence AID All-inclusive Directions AIFIs All India Financial Institutions AIFs Alternative Investment Funds AML Anti-money Laundering ANBC Adjusted Net Bank Credit APBS Aadhaar Payment Bridge System API Application Programming Interface ARCs Asset Reconstruction Companies ATMs Automated Teller Machines ATOs AePS Touchpoint Operators BCBS Basel Committee on Banking Supervision BC-ICT Business Correspondents – Information and Communication Technology BCs Business Correspondents BHIM Bharat Interface for Money BIS Bank for International Settlement bps basis points BSBDAs Basic […]