Liquidity Adjustment Facility: Fixed Rate Reverse Repo Operations

The result of the RBI Fixed Rate Reverse Repo Operations held on December 13, 2016 is as under:

Amount (face value in ₹ Billion)
Item		Overnight Reverse Repo Auction
		5.75% Fixed Rate
1. Bids received
(i)	Number	38
(ii)	Amount	151.90
2. Bids accepted
(i)	Number	38
(ii)	Amount	151.90

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/1510

Money Market Operations as on December 13, 2016

MONEY MARKETS @
	Volume		Wtd.Avg.Rate	Range
	(One Leg)
A. Overnight Segment (I+II+III+IV)	1,724.04		5.74	4.00-6.25
I. Call Money	136.91		6.05	4.80-6.25
II. CBLO	1,109.97		5.63	4.00-6.08
III. Market Repo	477.16		5.92	5.00-6.25
IV. Repo in Corporate Bond	0.00		-	-
B. Term Segment
I. Notice Money**	10.60		5.99	5.70-6.25
II. Term Money@@	2.20		-	6.05-6.30
III. CBLO	0.00		-	-
IV. Market Repo	23.42		6.26	6.26-6.26
V. Repo in Corporate Bond	1.25		8.00	8.00-8.00

RBI OPERATIONS@
	Auction Date	Tenor (Days)	Maturity Date	Amount Outstanding	Current Rate / Cut off Rate
C. Liquidity Adjustment Facility
(i) Repo (Fixed Rate)	13/12/2016	1	14/12/2016	23.82	6.25
(ii) Repo (Variable rate)	02/12/2016	14	16/12/2016	8.50	6.27
	06/12/2016	14	20/12/2016	4.50	6.26
	09/12/2016	14	23/12/2016	40.00	6.27
	13/12/2016	14	27/12/2016	25.00	6.27
(iii) Reverse Repo (Fixed rate)	13/12/2016	1	14/12/2016	151.90	5.75
(iv) Reverse Repo (Variable rate)	16/11/2016	91	15/02/2017	500.05	6.24
	17/11/2016	56	12/01/2017	141.75	6.24
	21/11/2016	23	14/12/2016	200.06	6.23
	13/12/2016	3	16/12/2016	600.06	6.23
	13/12/2016	1	14/12/2016	910.87	6.24
D. Marginal Standing Facility	13/12/2016	1	14/12/2016	2.30	6.75
E. Standing Liquidity Facility Availed from RBI $				12.29
RESERVE POSITION @
F. Cash Reserves Position  of Scheduled Commercial Banks
(i) Cash balances with RBI  as on #		08/12/2016		9,344.10
(ii) Average daily  cash reserve  requirement  for the fortnight ending		09/12/2016		7,662.42
G. Government of India Surplus Cash Balance Reckoned for Auction as on ¥		13/12/2016		78.00
@ Based on RBI / CCIL/ FIMMDA Data
- Not Applicable / No Transaction
** Relates to uncollateralized transactions of 2 to 14 days tenor
@@ Relates to uncollateralized transactions of 15 days to one year tenor
# The figure for the cash balances with RBI on Sunday is same as that of the previous day (Saturday).
$ Includes refinance facilities extended by RBI
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015
Ajit Prasad Assistant Adviser
Press Release : 2016-2017/1511

Bengaluru RBI officer laundered money for 30% cut

BENGALURU: Continuing its crackdown on fraudsters after demonetization, the CBIarrested on Tuesday a Reserve Bank of India employee in Bengaluru on charges of money laundering.

CBI sleuths arrested Michael Kattukaran, a senior special assistant at the RBI's issue department in Bengaluru, and two other persons. The arrest came in the wake of a money-exchange racket linked to the State Bank of Mysore's Kollegal branch. CBI officers said the investigators recovered Rs 17 lakh from the accused.

Kattukaran and his accomplices, including SBM head cashier Parashivamurthy, were allegedly involved in 12 cases of money laundering. They are accused of exchanging Rs 1.51 crore worth of demonetized notes for new currency. Kattukaran's is the first arrest of an officer of the central bank.

"Michael was sent to the currency chest in Kollegal to remit new currency notes after the announcement of demonetization. He allegedly joined hands with Parashivamurthy and others to convert money benefiting 13 parties for a 30% commission," RBI officers told TOI.