Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020)

RBI/2020-21/61 DOR.No.BP.BC.26/21.04.048/2020-21 October 26, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020) The Government of India has announced the Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020) (the ‘Scheme’) on October 23, 2020, which mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound interest for the period between March 1, 2020 to August 31, 2020 by respective lending institutions. The details of the Scheme are available at: https://financialservices.gov.in/sites/default/files/Scheme%20Letter.pdf. 2. All lending institutions are advised to be guided by the provisions of the Scheme and take necessary action within the stipulated timeline. Yours faithfully, (Prakash Baliarsingh) Chief General Manager

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Long Form Audit Report (LFAR) - Review

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Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Addition of one individual

RBI/2020-21/14 DOR.AML.BC.No.2/14.06.001/2020-21 July 18, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Addition of one individual Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on April 20, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activities (Prevention) (UAPA) Act, 1967, they do not have any account in the name of individuals/entities appearing in the lists of individuals and entities, suspected of having terrorist links, which are approved by and periodically circulated by the United Nations Security Council (UNSC).” 2. In this regard, Ministry of External Affairs (MEA) has now forwarded the following Press Release issued by the United Nations Security Council (UNSC) Committee established pursuant to Resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL (Da’esh), Al-Qaida, and associated individuals, groups, undertakings and entities regarding changes in the list of individuals and entities subject to the assets freeze, travel ban and arms embargo set out in paragraph 1 of UNSC resolution 2368 (2017), and adopted under Chapter VII of the Charter of the United Nations. The UNSC press release concerning the amendment to the list is also available at URL: https://www.un.org/press/en/2020/sc14256.doc.htm Notification: Note SC/14256 regarding addition of a Pakistani individual [QDi.427 Name: 1: Noor 2: Wali 3: Mehsud 4: na] in UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List. 3. Updated list of individuals and entities linked to ISIL (Da'esh), Al-Qaida and Taliban are available at: https://www.un.org/securitycouncil/sanctions/1267/aq_sanctions_list https://www.un.org/securitycouncil/sanctions/1988/materials 4. As per the instructions from the Ministry of Home Affairs (MHA), any request for delisting received by any RE is to be forwarded electronically to Joint Secretary (CTCR), MHA for consideration. Individuals, groups, undertakings or entities seeking to be removed from the Security Council’s ISIL (Da'esh) and Al-Qaida Sanctions List can submit their request for delisting to an independent and impartial Ombudsperson who has been appointed by the United Nations Secretary-General. More details are available at the following URL: https://www.un.org/securitycouncil/ombudsperson/application 5. In view of the above, REs are advised to take note of the aforementioned UNSC communication and ensure meticulous compliance. Yours faithfully, (Dr. S. K. Kar) Chief General Manager

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Assignment of Risk Weights on Credit Facilities (Guaranteed Emergency Credit Line) under the Emergency Credit Line Guarantee Scheme

RBI/2019-20/255 DoR.BP.BC.No.76/21.06.201/2019-20 June 21, 2020 All Member Lending Institutions (All Scheduled Commercial Banks including Scheduled RRBs) (NBFCs including HFCs eligible under the captioned scheme) (All India Financial Institutions - Small Industries Development Bank of India, National Housing Bank, National Bank for Agriculture and Rural Development and Export-Import Bank of India) Dear Sir/ Madam, Assignment of Risk Weights on Credit Facilities (Guaranteed Emergency Credit Line) under the Emergency Credit Line Guarantee Scheme Please refer to circular Ref no. 2842/NCGTC/ECLGS dated May 23, 2020 issued by National Credit Guarantee Trustee Company (NCGTC) in respect of the captioned scheme announced by the Government of India to extend guaranteed emergency credit line to MSME borrowers. As credit facilities extended under the scheme guaranteed by NCGTC are backed by an unconditional and irrevocable guarantee provided by Government of India, it has been decided that Member Lending Institutions shall assign zero percent risk weight on the credit facilities extended under this scheme to the extent of guarantee coverage. Yours faithfully, (Saurav Sinha) Chief General Manager-in-Charge

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Sovereign Gold Bond Scheme 2019-20 - Series I/II/III/IV - Operational Guidelines

RBI/2018-19/193 IDMD.CDD.No.3391/14.04.050/2018-19 May 30, 2019 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme 2019-20 - Series I/II/III/IV - Operational Guidelines This has reference to the GoI notification F.No.4(7)-W&M/2019 dated May 30, 2019 and RBI circular IDMD.CDD.No.3392/14.04.050/2018-19 dated May 30, 2019 on the Sovereign Gold Bonds. FAQs in this regard have been placed on our website (www.rbi.org.in). Operational guidelines with regard to this scheme are given below: 1. Application Application forms from investors will be received at branches during normal banking hours on the weeks of subscription. Receiving Offices need to ensure that the application is complete in all respects as incomplete applications are liable to be rejected. Relevant additional details may be obtained from the applicants, where necessary. The Receiving Offices may make arrangements to enable the investors to apply online, in the interest of better customer service. 2. Joint holding and nomination Multiple joint holders and nominees (of first holder) are permitted. Necessary details may be obtained from the applicants as per practice. An individual Non - resident Indian may get the security transferred in his/her name on account of he/she being a nominee of a deceased investor provided that: the Non-Resident investor shall need to hold the security till early redemption or till maturity; and the interest and maturity proceeds of the investment shall not be repatriable. 3. Know-Your-Customer (KYC) requirements Every application must be accompanied by the ‘PAN details’ issued by the Income Tax Department to the investor(s). It may be ascertained from the investor, if he/she has made a previous investment in SGBs or IINSC-C and hence in possession of an Investor ID. If so, the investments may be made under the unique Investor ID only. 4. Cancellation Cancellation of application is permitted till the closure of the issue, i.e. until Friday of the particular week of subscription. Part cancellation of submitted request for purchase of gold bonds is not permitted. 5. Lien marking As the bonds are government securities, lien marking, etc. will be as per the extant legal provisions of Government Securities Act, 2006 and rules framed there under. The lien shall be marked by the Receiving Offices/Public Debt Offices of RBI in case of financing by agencies other than the Receiving Offices. 6. Agency arrangement Receiving Offices may engage NBFCs, NSC agents and others to collect application forms on their behalf. Banks may enter into arrangements or tie-ups with such entities. Commission for distribution shall be paid at the rate of Rupee one per hundred of the total subscription received by the Receiving Offices on the applications received and Receiving Offices shall share at least 50% of the commission so received with the agents or sub-agents for the business procured through them. 7. Processing through RBI’s e-Kuber system Sovereign Gold Bonds will be available for subscription at the Receiving Offices through RBI’s e- Kuber system. The e-Kuber system can be accessed either through INFINET or Internet. The Receiving Offices need to enter the data or carry out bulk upload for the subscriptions received by them. They may ensure accuracy of entry of data to prevent occurrence of any inadvertent errors. An immediate confirmation will be provided to them for receipt of application. In addition, a confirmation scroll will be provided for file uploads to enable the Receiving Offices to update their database. On the date of allotment, Certificates of Holding will be generated for all the subscriptions in the name of the sole/principal holder. The Receiving Offices can download the same and take printouts. The Certificates of Holding will also be sent through e-mail to the investors who have provided their email address. The securities will be credited in their de-mat accounts by the depositories in due course subject to matching of particulars furnished in the application with the depositories’ records. 8. Printing Certificates of Holding Holding Certificate needs to be printed in colour on A4 size 100 GSM paper. 9. Servicing and follow up Receiving Offices will “own” the customer and provide necessary services with regards to this bond e.g. update contact details, receive requests for premature encashment, etc. Receiving Offices will be required to preserve applications till the bonds are matured and are repaid. 10. Tradability The Bonds shall be eligible for trading on a date notified by the Reserve Bank of India. (It may be noted that only bonds held in demat form with depositories can be traded in stock exchanges) 11. Contact details Any queries/clarifications may be e-mailed to the following: (a) Sovereign Gold Bond related: Please click here to send email. (b) IT related: Please click here to send email. Yours faithfully, (Raksha Mishra) General Manager

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Sovereign Gold Bond Scheme (SGB) 2019-20- Series I/II/III/IV

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Extension of relaxation on the guidelines to NBFCs on securitisation transactions

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Master Direction - Know Your Customer (KYC) Direction, 2016 (Updated as on May 29, 2019)

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Amendment to Master Direction (MD) on KYC

RBI/2018-19/190 DBR.AML.BC.No.39/14.01.001/2018-19 May 29, 2019 The Chairpersons/ CEOs of all the Regulated Entities Dear Sir/Madam, Amendment to Master Direction (MD) on KYC Government of India, vide Gazette Notification G.S.R. 108(E) dated February 13, 2019, has notified amendments to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. Further, an Ordinance, “Aadhaar and other Laws (amendment) Ordinance, 2019”, has been notified by the Government amending, inter alia, the Prevention of Money Laundering Act, 2002. 2. Important changes carried out in the Master Direction in accordance with the aforementioned amendments are listed hereunder: a) Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose. (Section 16 of the amended MD on KYC) b) ‘Proof of possession of Aadhaar number’ has been added to the list of Officially Valid Documents (OVD) with a proviso that where the customer submits ‘Proof of possession of Aadhaar number’ as OVD, he may submit it in such form as are issued by the Unique Identification Authority of India (UIDAI). (Section 3 of the amended MD) c) For customer identification of “individuals”: For individual desirous of receiving any benefit or subsidy under any scheme notified under section 7 of the Aadhaar (Targeted Delivery of Financial and Other subsidies, Benefits and Services) Act, 2016, the bank shall obtain the customers Aadhaar and may carry out its e-KYC authentication based on his declaration that he is desirous of receiving benefit/subsidy under the Aadhaar Act, 2016. (Section 16 of the amended MD) For non-DBT beneficiary customers, the Regulated Entities (REs) shall obtain a certified copy of any OVD containing details of his identity and address along with one recent photograph. (Section 16 of the amended MD) d) REs shall ensure that the customers (non-DBT beneficiaries) while submitting Aadhaar for Customer Due Diligence, redact or blackout their Aadhaar number in terms of sub-rule 16 of Rule 9 of the amended PML Rules.(Section 16 of the amended MD) e) REs other than banks may identify a customer through offline verification under the Aadhaar Act with his/her consent. (Section 16 of the amended MD) f) In case OVD furnished by the client does not contain updated address, certain deemed OVDs for the limited purpose of proof of address can be submitted provided that the OVD updated with current address is submitted within 3 months. (Section 3(a) ix of the amended MD) g) For non-individual customers, PAN/Form No. 60 of the entity (for companies and Partnership firms – only PAN) shall be obtained apart from other entity related documents. The PAN/Form No. 60 of the authorised signatories shall also be obtained.(Section 30-33) h) For existing bank account holders, PAN or Form No. 60 is to be submitted within such timelines as may be notified by the Government, failing which account shall be subject to temporary ceasing till PAN or Form No. 60 is submitted. However, before temporarily ceasing operations for an account RE shall give the customer an accessible notice and a reasonable opportunity to be heard.(Section 39 of the amended MD) 4. Further, additional certifying authorities for certifying the OVDs of Non-Resident Indian (NRI) and Person of Indian Origin (PIO) customers have been specified in section 3(a)(v) of the Master Direction. 5. The Master Direction on KYC dated February 25, 2016, is hereby updated to reflect the changes effected by the above amendments and shall come into force with immediate effect. Yours faithfully, (Dr. S. K. Kar) Chief General Manager

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Real Time Gross Settlement (RTGS) System – Extension of Timings for Customer Transactions

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Auction of Government of India Dated Securities

RBI/2018-19/188 Ref.No.IDMD/3342/08.02.032/2018-19 May 27, 2019 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks/All Financial Institutions/ All Primary Dealers. Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (re-issue) five dated securities for a notified amount of ₹17,000 crore as per the following details: Sr No Security Notified Amount (in ₹ crore) GoI Notification Auction Date Settlement date 1 7.00% GS 2021 3,000 F.No.4(6) W&M/2019 dated May 27, 2019 May 31, 2019 (Friday) June 03, 2019 (Monday) 2 7.27% GS 2026 3,000 3 GOI FRB 2031 5,000 4 7.62% GS 2039 2,000 5 7.63% GS 2059 4,000   Total 17,000       Subject to the limit of ₹17000 Cr being total notified amount, GoI will have the option to retain additional subscription up to ₹1000 Cr each against any one or more of the above securities. The auction will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions. The salient features of the auctions and the terms and conditions governing the issue of the Stocks are given in the notifications (copies enclosed), which should be read along with the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018 issued by Government of India. 2. We wish to draw your attention, in particular, to the following: (i) The Stocks will be issued for a minimum amount of ₹10,000/- (nominal) and in multiples of ₹10,000/- thereafter. (ii) In all the auctions, Government Stock up to 5% of the notified amount of sale will be allotted to the eligible individuals and institutions under the Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities. Each bank or PD on the basis of firm orders received from their constituents will submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. Allotment under the non-competitive segment to the bank or PD will be at the weighted average rate of yield/price that will emerge in the auction on the basis of the competitive bidding. (iii) 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 May 31, 2019. Bids in physical form will not be accepted except in extraordinary circumstances. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and 12.30 pm. (iv) Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595414, 022-27595666). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125). (v) An investor can submit more than one competitive bids in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of auction. (vi) On the basis of bids received, the Reserve Bank will determine the minimum price up to which tenders for purchase of Government Stock will be accepted at the auctions. Bids quoted at rates lower than the minimum price determined by the Reserve Bank of India will be rejected. 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. (vii) The result of the auctions will be announced on May 31, 2019 (Friday) and payment by successful bidders will be on June 03, 2019 (Monday). (viii) The Government Stocks will be issued by credit to Subsidiary General Ledger Account (SGL) of parties maintaining such account with Reserve Bank of India or in the form of Stock Certificate. Interest on the Government Stock will be paid half-yearly. (ix) The Government Stocks will be repaid at par on Jan 21, 2021; Apr 8, 2026; Dec 07, 2031; Sep 15, 2039; Jun 17, 2059 respectively. (x) The Stocks will qualify for the ready forward facility. (xi) The Stocks will be eligible for “When Issued” trading during the period May 28 – May 31, 2019 in accordance with guidelines on ‘When Issued’ transactions in Central Government Securities issued by Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time. Yours faithfully (Arvind Kumar) General Manager

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Auction for Sale (re-issue) of Government Stock (GS)

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated May 27, 2019 NOTIFICATION Auction for Sale (re-issue) of Government Stock (GS) F.No.4(6)W&M/2019: Government of India(GoI) hereby notifies sale (re-issue) of the following Government Stocks: Name of the Security Date of Original Issue Tenure (yy-mm-dd) Date of Maturity Base Method Notified Amount (in Rs Crore) 7.00% GS 2021 Jan 21, 2019 02-00-00 Jan 21, 2021 Price Multiple 3,000 7.27% GS 2026 Apr 8, 2019 07-00-00 Apr 8, 2026 Price Multiple 3,000 GOI FRB 2031 May 07, 2018 13-07-00 Dec 07, 2031 Price Multiple 5,000 7.62% GS 2039 Apr 8, 2019 20-05-07 Sep 15, 2039 Price Multiple 2,000 7.63% GS 2059 May 6, 2019 40-01-11 Jun 17, 2059 Price Multiple 4,000 Subject to the limit of ₹17000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to ₹1000 Cr each against any one or more of the above securities. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018 issued by Government of India. Allotment to Non-competitive Bidders 2. The Government Stock up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex). Place and date of auction 3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai -400 001 on May 31, 2019. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 31, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and 12.30 pm. When Issued Trading 4. The Stock will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of India. Date of issue and payment for the stock 5. The result of the auction shall be displayed by the Reserve Bank of India at its Fort, Mumbai Office on May 31, 2019. The payment by successful bidders will be on June 3, 2019 i.e. the date of re-issue. The payment for the stocks will include accrued interest on the nominal value of the Stock allotted in the auction from the date of original issue / last coupon payment date to the date upto which accrued interest is due as mentioned in the table in para 6. Payment of Interest and Re-payment of Stock 6. Interest will accrue on the nominal value of the Stock from the date of original issue / last coupon payment and will be paid half yearly. The Stock will be repaid at par on date of maturity. Name of the Security Coupon rate (%) Date of Last Coupon payment Date upto which accrued interest is due Date of Coupon payments (month / date) 7.00% GS 2021 7.00 New Stock Jun 2, 2019 Jul 21 and Jan 21 7.27% GS 2026 7.27 New Stock Jun 2, 2019 Oct 8 and Apr 8 GOI FRB 2031 Variable* Dec 7, 2018 Jun 2, 2019 Jun 7 and Dec 7 7.62% GS 2039 7.62 New Stock Jun 2, 2019 Sep 15 and Mar 15 7.63% GS 2059 7.63 New Stock Jun 2, 2019 Jun 17 and Dec 17 * GoI FRB 2031* (i) The interest at a variable rate will be paid every half-yearly. (ii) The Floating Rate Bond will carry the coupon, which will have a base rate, equivalent to Weighted Average Yield (WAY) of last 3 auctions (from the rate fixing day) of 182 Day T-Bills plus a fixed spread, of 100 basis points as decided by way of auction mechanism. The spread will be fixed throughout the tenure of the bond. The implicit yields will be computed by reckoning 365 days in a year. (iii) In the event of Government of India 182-day Treasury Bill auctions being discontinued during the currency of the Bonds, the base rate of the coupon will be the average of Yield to Maturity (YTM) rates prevailing for six month Government of India Security/ies as on the last three non-reporting Fridays prior to the commencement of the semi-annual coupon period. In case particular Friday/s is/are holiday/s, the yield to maturity rates as on the previous working day shall be taken. (iv) The base rate for the coupon period Dec 7, 2018 to Jun 6, 2019 is 7.05% per annum. Accordingly, the rate of interest on FRB 2031 for this period shall be 8.05% per annum. The rate of interest payable half yearly on the Bonds during the subsequent years shall be announced by the Reserve Bank of India before the commencement of the relative semi-annual coupon period. By Order of the President of India (Arvind Shrivastava) Joint Secretary to the Government of India

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‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt

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Incentive for improving service to non-chest branches

RBI/2018-19/186 DCM (Plg.) No.2845/10.25.007/2018-19 May 23, 2019 The Chairman & Managing Director Managing Director/ Chief Executive Officer All Banks having Currency Chests Dear Sir/Madam, Incentive for improving service to non-chest branches Please refer to our circular RBI/2015-16/293 DCM (NPD) No.2564/09.40.02/2015-16 dated January 21, 2016 on the captioned subject. It has been decided to allow the large modern Currency Chests to increase the service charges to be levied on cash deposited by non-chest bank branches from the existing rate of ₹ 5/- per packet of 100 pieces to a higher rate subject to a maximum of ₹ 8/- per packet. For this purpose, only a Currency Chest fulfilling the Minimum Standards for a Currency Chest as detailed in our circular RBI/2018-19/166 DCM (CC) No.2482/03.39.01/2018-19 dated April 08, 2019 shall be eligible to be classified as a large modern Currency Chest. 2. Banks may approach the Issue Office of Reserve Bank under whose jurisdiction the Currency Chest is located for such classification. The increased rates can be charged only after such classification by the Issue Office concerned. The Non-Chest bank branches linked with such large modern Currency Chests may be advised of the applicability of the increased rates at least 15 days in advance. Yours faithfully, (Sanjay Kumar) General Manager

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Auction of Government of India Dated Securities

RBI/2018-19/185 Ref.No.IDMD/3257/08.02.032/2018-19 May 20, 2019 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/ All Primary Dealers. Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (re-issue) four dated securities for a notified amount of ₹17,000 crore as per the following details: Sr No Security Notified Amount (in ₹ crore) GoI Notification Auction Date Settlement date 1 7.32% GS 2024 5,000 F.No.4(6) W&M/2019 dated May 20, 2019 May 24, 2019 (Friday) May 27, 2019 (Monday) 2 7.26% GS 2029 6,000 3 7.69% GS 2043 2,000 4 7.72% GS 2049 4,000   Total 17,000       Subject to the limit of ₹17000 Cr being total notified amount, GoI will have the option to retain additional subscription up to ₹1000 Cr each against any one or more of the above securities. The auction will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions. The salient features of the auctions and the terms and conditions governing the issue of the Stocks are given in the notifications (copies enclosed), which should be read along with the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018 issued by Government of India. 2. We wish to draw your attention, in particular, to the following: (i) The Stocks will be issued for a minimum amount of ₹10,000/- (nominal) and in multiples of ₹10,000/- thereafter. (ii) In all the auctions, Government Stock up to 5% of the notified amount of sale will be allotted to the eligible individuals and institutions under the Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities. Each bank or PD on the basis of firm orders received from their constituents will submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. Allotment under the non-competitive segment to the bank or PD will be at the weighted average rate of yield/price that will emerge in the auction on the basis of the competitive bidding. (iii) 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 May 24, 2019. Bids in physical form will not be accepted except in extraordinary circumstances. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and 12.30 pm. (iv) Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595414, 022-27595666). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125). (v) An investor can submit more than one competitive bids in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of auction. (vi) On the basis of bids received, the Reserve Bank will determine the minimum price up to which tenders for purchase of Government Stock will be accepted at the auctions. Bids quoted at rates lower than the minimum price determined by the Reserve Bank of India will be rejected. 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. (vii) The result of the auctions will be announced on May 24, 2019 (Friday) and payment by successful bidders will be on May 27, 2019 (Monday). (viii) The Government Stocks will be issued by credit to Subsidiary General Ledger Account (SGL) of parties maintaining such account with Reserve Bank of India or in the form of Stock Certificate. Interest on the Government Stock will be paid half-yearly. (ix) The Government Stocks will be repaid at par on Jan 28, 2024; Jan 14, 2029; Jun 17, 2043; Jun 15, 2049 respectively. (x) The Stocks will qualify for the ready forward facility. (xi) The Stocks will be eligible for “When Issued” trading during the period May 21 – May 24, 2019 in accordance with guidelines on ‘When Issued’ transactions in Central Government Securities issued by Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time. Yours faithfully (Arvind Kumar) General Manager

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Auction for Sale (re-issue) of Government Stock (GS)

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated May 20, 2019 NOTIFICATION Auction for Sale (re-issue) of Government Stock (GS) F.No.4(6)W&M/2019: Government of India(GoI) hereby notifies sale (re-issue) of the following Government Stocks: Name of the Security Date of Original Issue Tenure (yy-mm-dd) Date of Maturity Base Method Notified Amount (in Rs Crore) 7.32% GS 2024 Jan 28, 2019 05-00-00 Jan 28, 2024 Price Multiple 5,000 7.26% GS 2029 Jan 14, 2019 10-00-00 Jan 14, 2029 Price Multiple 6,000 7.69% GS 2043 Apr 30, 2019 24-01-17 Jun 17, 2043 Price Multiple 2,000 7.72% GS 2049 Apr 15, 2019 30-02-00 Jun 15, 2049 Price Multiple 4,000 Subject to the limit of ₹17000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to ₹1000 Cr each against any one or more of the above securities. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018 issued by Government of India. Allotment to Non-competitive Bidders 2. The Government Stock up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex). Place and date of auction 3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai -400 001 on May 24, 2019. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 24, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and 12.30 pm. When Issued Trading 4. The Stock will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of India. Date of issue and payment for the stock 5. The result of the auction shall be displayed by the Reserve Bank of India at its Fort, Mumbai Office on May 24, 2019. The payment by successful bidders will be on May 27, 2019 i.e. the date of re-issue. The payment for the stocks will include accrued interest on the nominal value of the Stock allotted in the auction from the date of original issue / last coupon payment date to the date upto which accrued interest is due as mentioned in the table in para 6. Payment of Interest and Re-payment of Stock 6. Interest will accrue on the nominal value of the Stock from the date of original issue / last coupon payment and will be paid half yearly. The Stock will be repaid at par on date of maturity. Name of the Security Coupon rate (%) Date of Last Coupon payment Date upto which accrued interest is due Date of Coupon payments (month / date) 7.32% GS 2024 7.32 New Stock May 26, 2019 Jul 28 and Jan 28 7.26% GS 2029 7.26 New Stock May 26, 2019 Jul 14 and Jan 14 7.69% GS 2043 7.69 New Stock May 26, 2019 Jun 17 and Dec 17 7.72% GS 2049 7.72 New Stock May 26, 2019 Jun 15 and Dec 15 By Order of the President of India (Arvind Shrivastava) Joint Secretary to the Government of India

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Risk Management System – Appointment of Chief Risk Officer (CRO) for NBFCs

RBI/2018-19/184 DNBR (PD) CC. No.099/03.10.001/2018-19 May 16, 2019 Non-Banking Financial Company– Investment and Credit Companies, Infrastructure Finance Companies, Micro Finance Institutions, Factors and Infrastructure Debt Funds Madam / Dear Sir, Risk Management System – Appointment of Chief Risk Officer (CRO) for NBFCs With the increasing role of NBFCs in direct credit intermediation, there is a need for NBFCs to augment risk management practices. While Boards of NBFCs should strive to follow best practices in risk management, it has been decided that NBFCs with asset size of more than Rs.50 billion shall appoint a CRO with clearly specified role and responsibilities. The CRO is required to function independently so as to ensure highest standards of risk management. 2. The NBFCs shall strictly adhere to the following instructions in this regard: a) The CRO shall be a senior official in the hierarchy of an NBFC and shall possess adequate professional qualification/ experience in the area of risk management. b) The CRO shall be appointed for a fixed tenure with the approval of the Board. The CRO can be transferred/ removed from his post before completion of the tenure only with the approval of the Board and such premature transfer/ removal shall be reported to the Department of Non-Banking Supervision of the regional office of the Bank under whose jurisdiction the NBFC is registered. In case the NBFC is listed, any change in incumbency of the CRO shall also be reported to the stock exchanges. c) The Board shall put in place policies to safeguard the independence of the CRO. In this regard, the CRO shall have direct reporting lines to the MD & CEO/ Risk Management Committee (RMC) of the Board. In case the CRO reports to the MD & CEO, the RMC/ Board shall meet the CRO without the presence of the MD & CEO, at least on a quarterly basis. The CRO shall not have any reporting relationship with the business verticals of the NBFC and shall not be given any business targets. Further, there shall not be any ‘dual hatting’ i.e. the CRO shall not be given any other responsibility. d) The CRO shall be involved in the process of identification, measurement and mitigation of risks. All credit products (retail or wholesale) shall be vetted by the CRO from the angle of inherent and control risks. The CRO’s role in deciding credit proposals shall be limited to being an advisor. e) In NBFCs that follow committee approach in credit sanction process for high value proposals, if the CRO is one of the decision makers in the credit sanction process, the CRO shall have voting power and all members who are part of the credit sanction process, shall individually and severally be liable for all the aspects, including risk perspective related to the credit proposal. 3. Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 has been modified accordingly. Yours faithfully, (Manoranjan Mishra) Chief General Manager

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Outsourcing of Cash Management – Reconciliation of Transactions

RBI/2018-19/183 DCM (Plg) No.2746/10.25.07/2018-19 May 14, 2019 The Chairman / Managing Director / Chief Executive Officer All Banks Madam / Dear Sir, Outsourcing of Cash Management – Reconciliation of Transactions As stated in para 15 of the monetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement [Chair: Shri D.K. Mohanty, Executive Director, Reserve Bank of India] to review the entire gamut of security of the treasure in transit. The recommendations of the Committee relating to timely reconciliation of transactions (i.e. ATM cash replenishment) between the bank, the service provider and its sub-contractor have been examined. Accordingly, it has been decided that the bank shall follow the procedure as under: Cash indents by the Service Provider shall be made at least a day in advance (T-1 where T is the day of cash loading), in consultation with the chest / nodal branch. Multiple points of cash withdrawal may be avoided and shall be restricted to one in each centre. However, metropolitan centres may have two points of cash withdrawal. Reconciliation of transactions shall be done between the bank, the service provider and its sub-contractors at least on a T+3 basis. In the event of a dispute or the reporting of alleged / attempted breach of security / laid down procedures, access to video footage of the ATM may be provided by the bank to the service provider and its sub-contractors on request. 2. Further, as a part of outsourcing arrangements for cash management, the bank shall encourage their service provider and its sub-contractors to: put in place an efficient digital records management system for data retrieval and reconciliation. create and maintain a data base of employees at industry level through any unique mode / code of identification by the Self Regulatory Organisation to ensure that they possess unblemished records. Yours faithfully, (Sanjay Kumar) General Manager

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Auction of Government of India Dated Securities

RBI/2018-19/182 Ref.No.IDMD/3184/08.02.032/2018-19 May 13, 2019 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks/All Financial Institutions/ All Primary Dealers. Dear Sir/Madam, Auction of Government of India Dated Securities Government of India has offered to sell (issue/re-issue) five dated securities for a notified amount of ₹17,000 crore as per the following details: Sr No Security Notified Amount (in ₹ crore) GoI Notification Auction Date Settlement date 1 7.00% GS 2021 3,000 F.No.4(6) W&M/2018 dated May 13, 2019 May 17, 2019 (Friday) May 20, 2019 (Monday) 2 7.27% GS 2026 3,000 3 New GS 2033 5,000 4 7.62% GS 2039 2,000 5 7.63% GS 2059 4,000   Total 17,000       Subject to the limit of ₹17000 Cr being total notified amount, GoI will have the option to retain additional subscription up to ₹1000 Cr each against any one or more of the above securities. The auction will be yield based (for new securities) and price based (for other securities), using multiple price method for both. The Reserve Bank of India at Mumbai will conduct the auctions. The salient features of the auctions and the terms and conditions governing the issue of the Stocks are given in the notifications (copies enclosed), which should be read along with the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018 issued by Government of India. 2. We wish to draw your attention, in particular, to the following: (i) The Stocks will be issued for a minimum amount of ₹10,000/- (nominal) and in multiples of ₹10,000/- thereafter. (ii) In all the auctions, Government Stock up to 5% of the notified amount of sale will be allotted to the eligible individuals and institutions under the Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities. Each bank or PD on the basis of firm orders received from their constituents will submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. Allotment under the non-competitive segment to the bank or PD will be at the weighted average rate of yield/price that will emerge in the auction on the basis of the competitive bidding. (iii) 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 May 17, 2019. Bids in physical form will not be accepted except in extraordinary circumstances. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and 12.30 pm. (iv) Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595414, 022-27595666). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125). (v) An investor can submit more than one competitive bids in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of auction. (vi) On the basis of bids received, the Reserve Bank will determine the minimum price up to which tenders for purchase of Government Stock will be accepted at the auctions. Bids quoted at rates lower than the minimum price determined by the Reserve Bank of India will be rejected. 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. (vii) The result of the auctions will be announced on May 17, 2019 (Friday) and payment by successful bidders will be on May 20, 2019 (Monday). (viii) The Government Stocks will be issued by credit to Subsidiary General Ledger Account (SGL) of parties maintaining such account with Reserve Bank of India or in the form of Stock Certificate. Interest on the Government Stock will be paid half-yearly. (ix) The Government Stocks will be repaid at par on Jan 21, 2021; Apr 8, 2026; Jun 17, 2033; Sep 15, 2039; Jun 17, 2059 respectively. (x) The Stocks will qualify for the ready forward facility. (xi) The Stocks will be eligible for “When Issued” trading during the period May 14 – May 17, 2019 in accordance with guidelines on ‘When Issued’ transactions in Central Government Securities issued by Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time. Yours faithfully (Arvind Kumar) General Manager

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Auction for Sale (Issue/re-issue) of Government Stock (GS)

Government of India Ministry of Finance Department of Economic Affairs Budget Division New Delhi, dated May 13, 2019 NOTIFICATION Auction for Sale (Issue/re-issue) of Government Stock (GS) F.No.4(6)W&M/2018: Government of India(GoI) hereby notifies sale (issue/re-issue) of the following Government Stocks: Name of the Security Date of Original Issue Tenure (yy-mm-dd) Date of Maturity Base Method Notified Amount (in Rs Crore) 7.00% GS 2021 Jan 21, 2019 02-00-00 Jan 21, 2021 Price Multiple 3,000 7.27% GS 2026 Apr 8, 2019 07-00-00 Apr 8, 2026 Price Multiple 3,000 New GS 2033 New Stock 14-00-27 Jun 17, 2033 Yield Multiple 5,000 7.62% GS 2039 Apr 8, 2019 20-05-07 Sep 15, 2039 Price Multiple 2,000 7.63% GS 2059 May 6, 2019 40-01-11 Jun 17, 2059 Price Multiple 4,000 Subject to the limit of ₹17000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to ₹1000 Cr each against any one or more of the above securities. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018 issued by Government of India. Allotment to Non-competitive Bidders 2. The Government Stock up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex). Place and date of auction 3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai -400 001 on May 17, 2019. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 17, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and 12.30 pm. When Issued Trading 4. The Stock will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of India. Date of issue and payment for the stock 5. The result of the auction shall be displayed by the Reserve Bank of India at its Fort, Mumbai Office on May 17, 2019. The payment by successful bidders will be on May 20, 2019 i.e. the date of issue/re-issue. The payment for the stocks will include accrued interest on the nominal value of the Stock allotted in the auction from the date of original issue / last coupon payment date to the date upto which accrued interest is due as mentioned in the table in para 6. Payment of Interest and Re-payment of Stock 6. Interest will accrue on the nominal value of the Stock from the date of original issue / last coupon payment and will be paid half yearly. The Stock will be repaid at par on date of maturity. Name of the Security Coupon rate (%) Date of Last Coupon payment Date upto which accrued interest is due Date of Coupon payments (month / date) 7.00% GS 2021 7.00 New Stock May 19, 2019 Jul 21 and Jan 21 7.27% GS 2026 7.27 New Stock May 19, 2019 Oct 8 and Apr 8 New GS 2033 Yield Based # New Stock New stock Jun 17 and Dec 17 7.62% GS 2039 7.62 New Stock May 19, 2019 Sep 15 and Mar 15 7.63% GS 2059 7.63 New Stock May 19, 2019 Jun 17 and Dec 17 # The coupon rate for the securities will be set at the cut-off yield to maturity rate decided in the auction. The interest will be payable half-yearly By Order of the President of India (Arvind Shrivastava) Joint Secretary to the Government of India

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