Reserve Bank of India held its half-yearly meetings with the Managing Directors and Chief Executive Officers of Public Sector Banks and select Private Sector Banks in Mumbai on July 14, 2026.

The meetings were chaired by the Governor and attended by Deputy Governors Shri Swaminathan J., Dr. Poonam Gupta, Shri S. C. Murmu and Shri Rohit Jain, along with the Executive Directors in charge of supervision, regulation, enforcement, consumer education and protection, and financial inclusion.

In his opening remarks, the Governor acknowledged that the banking sector has witnessed broad-based growth and he urged the banks to continue to meet the needs of all segments and sections of the economy with renewed vigour and prudence.

He suggested banks to leverage advanced technologies, including AI, to expand their reach, improve operational efficiency, reduce costs and enhance customer experience, while ensuring robust cybersecurity, strong internal controls and safeguards against fraud and data misuse. He also stressed the need to cultivate a passion for excellence in customer service by placing customers at the heart of banking operations.

Other matters discussed included CKYCR, early detection of FICN, adoption and/or popularisation of MuleHunter, CBDC, ULI, Account Aggregator, FX Retail, Retail-Direct, etc.

The participants shared their feedback on these aspects as well as other matters broadly affecting the financial sector.

(Brij Raj)           
Chief General Manager

Press Release: 2026-2027/669

As announced in the Statement on Developmental and Regulatory Policies dated April 8, 2026, the Reserve Bank had issued the draft Reserve Bank of India (Governance) Amendment Directions, 2026 on April 8, 2026 for seeking feedback from stakeholders. The draft Amendment Directions inter alia proposed to replace the seven broad themes with principle-based guidance, to enable the Boards to utilize their time effectively, and to facilitate a more focused and qualitative engagement on strategy and risk governance.

2. Feedback received on the above draft Directions has been examined and the consequent modifications have been suitably incorporated in the final Amendment Directions. A statement on the feedback received is provided in Annex I.

3. Accordingly, the Reserve Bank has today issued the following Amendment Directions, which shall come into effect from October 1, 2026:

1. Reserve Bank of India (Commercial Banks – Governance) Amendment Directions, 2026

2. Reserve Bank of India (Small Finance Banks – Governance) Amendment Directions, 2026

3. Reserve Bank of India (Payments Banks – Governance) Amendment Directions, 2026

4. Reserve Bank of India (Local Area Banks – Governance) Amendment Directions, 2026

4. The matters required to be placed before Boards as prescribed by the Reserve Bank in extant Directions / Circulars, including those that can be delegated are specified in the appendices to the Amendment Directions. The matters identified for discontinuation (Annex II) have been omitted from the appendices, as the regulatory requirement to place such matters before Boards shall cease to exist upon the applicability of these Amendment Directions. The extant Directions / Circulars referred to in the appendices shall stand modified as per the stance indicated therein, with effect from the date of applicability of these Directions i.e., October 1, 2026.

(Brij Raj)           
Chief General Manager

Press Release: 2026-2027/668

Based on a review undertaken in light of representations received from Asset Management Companies (AMCs) and in order to simplify approval process for subsequent acquisitions of major shareholding in a banking company by mutual funds, insurance companies and pension funds, the Reserve Bank of India has released today the following draft Amendment Directions:

1. Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026.

2. Reserve Bank of India (Small Finance Banks – Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026.

3. Reserve Bank of India (Payments Banks – Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026.

4. Reserve Bank of India (Local Area Banks – Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026.

2. The comments / feedback on the said draft Amendment Directions may be submitted by the regulated entities and members of public / other stakeholders on or before August 4, 2026, through the following channels:

1. the 'Connect 2 Regulate' Section available on the Reserve Bank's website by following the corresponding hyperlink provided against each document in the page where they are hosted; or

2. by email with the subject line 'Feedback on (full name of the draft Amendment Directions (including the type of Regulated Entity))'.

(Brij Raj)           
Chief General Manager

Press Release: 2026-2027/667

The result of the auction of State Government Securities held on July 14, 2026, is as under:

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/666

On account of renovation, the RBI Monetary Museum, Mumbai will be temporarily closed with effect from July 22, 2026, until further notice.

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/665

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/664

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 May 2026.

Ajit Prasad          
Deputy General Manager
(Communications)     

Press Release: 2026-2027/663

In terms of GOI notification F.No.4(4)-B(W&M)/2020 dated April 13, 2020 (SGB 2020-21 Series-IV-Issue date July 14, 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 of premature redemption of the above tranche shall be on July 14, 2026.

2. Further, the redemption price of SGB shall be based on simple average of closing price of gold of 999 purity of previous three business days from the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA). Accordingly, the redemption price for premature redemption due on July 14, 2026, shall be ₹14,307/- (Rupees Fourteen Thousand Three Hundred and Seven Only) per unit of SGB based on the simple average of closing price of gold for the three business days i.e., July 09, July 10, and July 13, 2026.

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/661

Government of India (GoI) has announced the sale (re-issue) of three dated securities for a notified amount of ₹32,000 crore as per the following details:

2. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above.

3. The securities will be sold through Reserve Bank of India Mumbai Office, Fort, Mumbai–400001. The sale will be subject to the terms and conditions spelt out in the ‘Specific Notification’ mentioned above and the General Notification F.No.4(2)–B(W&M)/2018, dated March 26, 2025.

4. The auction will be conducted using multiple price method. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (e-Kuber system) on July 17, 2026 (Friday). The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m. The result will be announced on the same day and payment by successful bidders will have to be made on July 20, 2026 (Monday).

5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 09:00 a.m. up to 09:30 a.m. on July 17, 2026 (Friday) on the Reserve Bank of India Core Banking Solution (e-Kuber system).

6. The securities will be eligible for “When Issued” trading for a period commencing from July 14, 2026 – July 17, 2026.

7. Operational guidelines for Government of India dated securities auction and other details are given in the Annex.

Ajit Prasad          
Deputy General Manager
(Communications)     

Press Release: 2026-2027/660

ANNEX

Type of Auction

1. For multiple price-based auction, successful bids will get accepted at the respective quoted yield/price for the security. For uniform price-based auction, bids will get accepted at the cut off yield/price accepted in the auction.

2. The auction will be yield based for new security and price based for securities which are re-issued.

3. In case of a Floating Rate Bonds (FRB), the auction will be spread-based for new security and price based for securities which are reissued. At the time of placing bids for new FRB, the spread should be quoted in percentage terms.

Minimum Bid Size

4. The securities will be issued for a minimum amount of ₹10,000/- (nominal) and in multiples of ₹10,000/- thereafter.

Non-Competitive Segment

5. In all the auctions, Government security up to 5% of the notified amount for sale of individual security will be allotted to the eligible individuals and institutions under the Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities. Individual investors can also place bids as per the non-competitive scheme through the Retail Direct portal (https://rbiretaildirect.org.in).

6. Each bank or Primary Dealer (PD) on the basis of firm orders received from their constituents will submit a single consolidated non-competitive bid for individual security on behalf of its constituents in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber system).

7. Allotment under the non-competitive segment will be at the weighted average rate of yield/price of the successful bids that will emerge in the auction on the basis of the competitive bidding.

Submission of Bids

8. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber system).

9. Bids in physical form will not be accepted except in extraordinary circumstances.

Business Continuity Plan (BCP)-IT failure

10. Only in the event of system failure, physical bids will be accepted. Such physical bids should be submitted to the Public Debt Office, Mumbai through (email; Phone no: 022-22603456, 022-22603457, 022-22603190) in the prescribed form which can be obtained from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends.

11. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-69870466, 022-69870415).

12. For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Multiple Bids

13. An investor can submit more than one competitive bid in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber system).

14. The aggregate amount of bids submitted by an investor in an auction should not exceed the notified amount of auction.

Decision Making Process

15. On the basis of bids received, the Reserve Bank will determine the minimum price/maximum yield up to which tenders for purchase of Government Security will be accepted at the auctions.

16. Bids quoted at rates lower than the minimum price/higher than the maximum yield determined by the Reserve Bank of India will be rejected.

17. Reserve Bank of India will have the full discretion to accept or reject any or all bids either wholly or partially without assigning any reason.

Issue of Securities

18. Issue of securities to the successful bidders will be by credit to Subsidiary General Ledger Account (SGL) or to Constituents' Subsidiary General Ledger Account (CSGL), maintained with Reserve Bank of India.

Periodicity of Interest Payment

19. Interest on the Government Security will generally be paid half-yearly other than in case of securities with non-standard maturities. The exact periodicity of coupon payment is invariably mentioned in the specific notification for the issue of security.

Underwriting of the Government Securities

20. The underwriting of the Government Securities under auctions by the 'Primary Dealers' will be as per the "Revised Scheme of Underwriting Commitment and Liquidity Support" announced by the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007 as amended from time to time.

Eligibility for Repurchase Transactions (Repo)

21. The securities will be eligible for Repurchase Transactions (Repo) as per the conditions mentioned in Master Direction – Reserve Bank of India (Repurchase Transactions (Repo)) Directions, 2025 as amended from time to time.

Eligibility for 'When Issued' Trading

22. The securities will be eligible for "When Issued" trading in accordance with the guidelines on 'When Issued transactions in Central Government Securities' issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

Investment by Non-Residents

23. Investments by Non-Residents are subject to the guidelines on 'Fully Accessible Route' for Investment by Non-residents in Government Securities and other related guidelines as issued by the Reserve Bank from time to time.