India, June 30 -- The Government of India has issued a release: GST has marked a major shift in India's indirect tax system by replacing fragmented central and state taxes with an integrated framework. It has helped create a common national market and support the vision of One Nation, One Tax. Since its implementation in 2017, GST has evolved through continuous reforms, digital systems and stronger Centre-State coordination. The Next-Generation GST reforms of 2025 further simplified the structu...
MUMBAI, India, July 1 -- Reserve Bank of India issued the following press release: A summary of the performance under the Citizen's Charter of the Reserve Bank of India during the month of June 2026 is given below - Description No. of Applications A Applications pending at the beginning of the month 2,554 B Applications received during the month 19,177 C Referred back to applicants for additional information 541 Total (A+B-C) 21,190 D Applications processed during the month - Within timeline...
MUMBAI, India, July 1 -- Reserve Bank of India issued the following press release: The Reserve Bank of India had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Samarth Sahakari Bank Ltd., Solapur, Dist. Solapur, Maharashtra vide Directive No. NGP.DOS.SSM 2.No.S580/15-03-614/2025-2026 dated October 06, 2025, for a period of six months up to the close of business on April 07, 2026, which were last extended up to the close of business on July 07, 20...
MUMBAI, India, July 1 -- Reserve Bank of India issued the following press release: In terms of Para 13 (ii) of Government of India Notification F.No.4(10)- B(W&M)/2020 dated June 26, 2020 on Floating Rate Savings Bonds, 2020 (Taxable)- FRSB 2020 (T), the coupon/interest rate of the bond would be reset half yearly, starting with January 01, 2021 and the coupon/interest rate will be set at a spread of (+) 35 bps over the prevailing National Savings Certificate (NSC) rate. 2. Accordingly, the cou...
MUMBAI, India, July 1 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has appointed Shri Ravi Shankar as Executive Director (ED) with effect from July 1, 2026. Prior to his promotion as ED, Shri Shankar was serving as Adviser-In-Charge of the Department of Statistics and Information Management of the Bank. As a career central banker statistician, Shri Shankar has experience of over three decades in the Reserve Bank having worked in the areas of cor...
MUMBAI, India, July 1 -- Reserve Bank of India issued the following press release: The Reserve Bank of India has launched the 74th round of its Order Books, Inventories and Capacity Utilisation Survey (OBICUS). The survey is for the reference period April - June 2026 (Q1:2026-27). The Reserve Bank has been conducting the Order Books, Inventories and Capacity Utilisation Survey (OBICUS) of the manufacturing sector on a quarterly basis since 2008. The information collected in the survey includes...
MUMBAI, India, July 1 -- Reserve Bank of India issued the following press release: (Amount in ₹ crore) Auction Results 91-Day 182-Day 364-Day I. Notified Amount 9,000 8,000 7,000 II. Competitive Bids Received (i) Number 76 81 79 (ii) Amount 21,821.500 13,951.500 11,610.000 III. Cut-off price (₹) / Yield 98.7075 97.3448 94.6542 (YTM: 5.2521%) (YTM: 5.4702%) (YTM: 5.6632%) IV. Competitive Bids Accepted (i) Number 29 52 64 (ii) Amount 8,842.676 7,600.000 6,650.000 V. Partial Allo...
MUMBAI, India, July 1 -- Reserve Bank of India issued the following press release: T-Bill 91-Day 182-Day 364-Day I. Total Face Value Notified ₹9,000 Crore ₹8,000 Crore ₹7,000 Crore II. Cut-off Price (₹) and Implicit Yield at Cut-Off Price 98.7075 (YTM: 5.2521%) 97.3448 (YTM: 5.4702%) 94.6542 (YTM: 5.6632%) III. Total Face Value Accepted ₹9,000 Crore ₹8,000 Crore ₹7,000 Crore Ajit Prasad Deputy General Manager (Communications) Press Release: 2026...
MUMBAI, India, July 1 -- Reserve Bank of India issued the following press release: Tenor 2-day Notified Amount (in ₹ crore) 1,25,000 Total amount of bids received (in ₹ crore) 29,695 Amount allotted (in ₹ crore) 29,695 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: 2026-2027/582 Disclaimer: Curated by HT Syndication....
MUMBAI, India, July 1 -- Reserve Bank of India issued the following press release: (Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@ -- > Money Markets@ Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 6,17,738.78 5.38 4.00-6.00 I. Call Money 12,288.36 5.43 4.20-5.65 II. Triparty Repo 4,33,193.50 5.39 5.26-5.75 III. Market Repo 1,62,817.97 5.32 4.00-5.65 IV. Repo in Corporate Bond 9,438.95 5.67 5.45-6.00 B. Term Segment I. Notice Money** 50.50 5.27 4...