Press Releases
- In terms of GOI notification F.No.4(22)-B(W&M)/2018 dated October 08, 2018 (SGB 2018-19 Series-V-Issue date January 22, 2019) 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 […]
- Today, the Reserve Bank released the January 2026 issue of its monthly Bulletin. The Bulletin includes three speeches, two articles and current statistics. The two articles are: I. State of the Economy; and II. Financial Stocks and Flow of Funds of the Indian Economy 2023-24. I. State of the Economy Global growth remained resilient in […]
- The Reserve Bank has today released data on Reserve Money for the fortnight ended January 15, 2026. Ajit Prasad Deputy General Manager (Communications) Press Release: 2025-2026/1961
- (Amount in ₹ crore) Auction Results 91-Day 182-Day 364-Day I. Notified Amount 9,000 12,000 8,000 II. Competitive Bids Received (i) Number 76 81 94 (ii) Amount 17,439.745 29,587.500 23,200.120 III. Cut-off price / Yield 98.6500 97.2539 94.6035 (YTM: 5.4889%) (YTM: 5.6628%) (YTM: 5.7200%) IV. Competitive Bids Accepted (i) Number […]
- The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB) and Rupee Denominated Bonds (RDB) both, through Automatic Route and Approval Route, for the month of November 2025. Ajit Prasad Deputy General Manager (Communications) Press Release: 2025-2026/1959
- I. T-Bill 91-Day 182-Day 364-Day II. Total Face Value Notified ₹9,000 Crore ₹12,000 Crore ₹8,000 Crore III. Cut-off Price and Implicit Yield at Cut-Off Price 98.6500 (YTM: 5.4889%) 97.2539 (YTM: 5.6628%) 94.6035 (YTM: 5.7200%) IV. Total Face Value Accepted ₹9,000 Crore ₹12,000 Crore ₹8,000 Crore Ajit Prasad Deputy General Manager (Communications) Press Release: 2025-2026/1958
- Tenor 8-day Notified Amount (in ₹ crore) 50,000 Total amount of bids received (in ₹ crore) 26,535 Amount allotted (in ₹ crore) 26,535 Cut off Rate (%) 5.26 Weighted Average Rate (%) 5.26 Partial Allotment Percentage of bids received at cut off rate (%) NA Ajit Prasad Deputy General Manager (Communications) Press Release: 2025-2026/1957
- (Amount in ₹ crore, Rate in Per cent) Money Markets@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,86,310.36 5.18 4.00-6.35 I. Call Money 15,456.37 5.42 4.50-5.50 II. Triparty Repo 4,69,748.15 5.12 4.85-5.23 III. Market Repo 1,96,598.44 5.29 4.00-5.50 IV. Repo in Corporate Bond 4,507.40 5.46 5.41-6.35 B. Term Segment […]
- On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Wednesday, January 21, 2026, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 50,000 8 9:30 AM to 10:00 AM January 29, 2026 (Thursday) 2. The […]
- In terms of GOI notification F.No.4(7)-B(W&M)/2019 dated September 30, 2019 (SGB 2019-20 Series-VIII-Issue date January 21, 2020) 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 […]
Notifications
- RBI/FIDD/2025-26/196 FIDD.CO.PSD.BC.No.11/04.09.001/2025-26 January 19, 2026 Reserve Bank of India (Priority Sector Lending – Targets and Classification) (Amendment) Directions, 2026 Please refer to the Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2025 (hereinafter referred to as “the Directions”). 2. On a review, in exercise of the powers conferred by Sections 21 […]
- RBI/2025-26/195 DOR.STR.REC.393/04.02.001/2025-26 January 19, 2026 All Scheduled Commercial Banks (excluding Regional Rural Banks); Primary (Urban) Co-operative Banks; State Co-operative Banks; All-India Financial Institutions Madam / Dear Sir, Interest Subvention for Pre- and Post- Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan The Government of India has announced the captioned Scheme under the […]
- 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, […]
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
- Tender ID: RBI/DIT-CO Central Office Departments/Others/11/25-26/ET/893[RFP for Back up Appliance] Reserve Bank of India desires to procure Purpose-Built Backup Appliances (PBBA) for Data Centres of Reserve Bank of India. For the above project, the Bank invites bids for selection of System Integrator through e-tendering route. The RFP document for the project is hosted on MSTC […]
- Pre-bid meeting for the captioned work was held on January 21, 2026, at 11:00 AM in the Conference Room, Estate Department, II floor, Reserve Bank of India, Bakery Junction, Thiruvananthapuram. However, no participant from any firm attended the meeting. Regional Director Kerala and Lakshadweep
- A reference is invited to the captioned Tender, which was issued on December 31, 2025, under the “Tenders” link of RBI website (www.rbi.org.in). 2. The schedule of tender activities for the captioned work has been revised as under: A E-Tender No. RBI/Ahmedabad Regional Office/Estate/7/25-26/ET/779 B Last date of submission of EMD 1 (one working day) […]
- Reserve Bank of India, Mumbai invites two-part tender by e-tender mode from the contractors empaneled with Reserve Bank of India, Estate Office, Fort, Mumbai in category of Civil Works (A) costing between ₹5 Lakh to ₹10 Lakh for the captioned work. The tendering would be done through the e-Tendering portal of MSTC Ltd (https://www.mstcecommerce.com/eprocn/). All […]
- (Details/ RFQ-NIT: Tenders – Reserve Bank of India) Estate Department, Reserve Bank of India, had invited Quotations from eligible and willing firms for "Radio Frequency Identification (RFID) based Fixed Asset Management Solution (FAMS) for its various inventory items installed at Reserve Bank of India (RBI), Lucknow's Main Office Building (MOB) and Residential Colonies located at […]
- Reserve Bank of India, Chennai invites limited e-Tender for the work – ‘Electrical renovation of flats at RBI Staff Quarters PH Road, Chennai.’ The tendering process will be done only through the e-Tendering portal of MSTC Ltd https://www.mstcecommerce.com/eprocn. All interested bidders who are empanelled with Reserve Bank of India under trade ‘Maintenance and repair of […]
- E-Tender No. – RBI/RAIPUR REGIONAL OFFICE/HRMD/7/25-26/ET/806[Sniffer Dog Services] Tender has been invited for Providing services of 02 Sniffer Dogs with 02 Handlers at Bank’s Office Building at Atal Nagar, Nava Raipur after publishing the Notice Inviting Tender (NIT) on the Bank’s website on January 06, 2026. As per the schedule, a pre-bid meeting was scheduled […]
- Hindustan Steelworks Construction Limited (HSCL) has invited e-tender on percentage fees basis from reputed Architect / Consultant firms for “Providing Architectural and Engineering Consultancy Services for EPC Contracts for the work of Construction of Reserve Bank of India’s residential quarters at Curca village, Tiswadi Taluka, Goa” through QCBS method on EPC mode III, as per […]
- Reserve Bank of India (hereinafter referred to as RBI), Hyderabad invites e-tenders through MSTC web portal from selected vendors for the captioned work. 1. Tender name Limited e-Tender for Supply and Laying of Fiber cable from Server Room/Switch Rooms and CAT6 cable on Ground, 1st and 2nd Floor at MOB, Hyderabad 2. Estimated value of […]
- (Event no: RBI/Mumbai Regional Office/Estate/129/25-26/ET/743) The pre-bid meeting for the captioned e-tender was held on January 19, 2026 (Monday) at 11:00 AM at Estate Cell, BKC. 2. Following Officers of Estate Cell, BKC attended the above pre-bid meeting- S. No Name Designation 1 Shri. Abhijit S Warade Assistant General Manager (Tech-Electrical) 2 Ms. Shweta Mhasvekar […]
PUBLICATION
- 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 […]
- 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, […]
- 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 […]