News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
« Latest Circulars »
  Short Term Crop Loans eligible for Interest Subvention Scheme (ISS) and Prompt Repayment Incentive (PRI) through KCC
 Exim Bank's Government of India supported Line of Credit (LoC) of USD 161.36 million to the Government of the Republic of Burundi
 Export of Goods and Services- Realisation and Repatriation of Export Proceeds-Relaxation
  Amendment to Master Direction (MD) on KYC
 Appointment of Managing Director and Chief Executive Officer (MD & CEO) / CEO / part-time Chairperson (PTC) in Banks – ‘Declaration and Undertaking’ and allied matters
 Doorstep Banking Services for Senior Citizens and Differently Abled Persons
  Amalgamation of Public Sector Banks - Assignment of SLBC/ UTLBC Convenorship and Lead Bank responsibilities
 â€˜Fully Accessible Route’ for Investment by Non-residents in Government Securities - (specified securities)
 Guidelines for Licensing of Small Finance Banks in Private Sector’ dated November 27, 2014 – Modifications to existing norms
 Amalgamation of Public Sector Banks - Assignment of SLBC/ UTLBC Convenorship and Lead Bank responsibilities
 Risk Management and Inter-bank Dealings- Participation of Banks in Offshore Non-deliverable Rupee Derivative Markets

RBI advances variable rate Repo auction scheduled for March 30, 2020 to March 26, 2020 and Temporarily enhances Standing Liquidity Facility for SPDs
March, 25th 2020

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 participants.

On a review of the rapidly evolving financial conditions and taking into account the impact of disruptions caused by COVID-19, it has been decided to advance the first auction scheduled for March 30, 2020 to March 26, 2020. The modified details of the auction to be conducted on March 26, 2020 are as under:

Sl. No. Date Notified Amount
( crore)
Window Timing Date of Reversal
1 March 26, 2020 25,000 12 2.00 PM – 2.30 PM April 07, 2020

There is no change in the auction scheduled for March 31, 2020. All other terms and conditions as applicable to term Repo auctions will remain the same.

Furthermore, it has been decided to temporarily enhance liquidity available to SPDs under the Reserve Bank’s Standing Liquidity Facility (SLF) from 2800 crore to 10,000 crore with immediate effect, in order to facilitate year-end liquidity management by SPDs. This enhanced facility will be available till April 17, 2020.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2019-2020/2110

Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting