Latest news with #e-Kuber
India Gazette
4 days ago
- Business
- India Gazette
RBI announces reissue of two Govt securities worth Rs 32000 crore, also open to accept extra Rs 2000 cr
Mumbai (Maharashtra) [India], June 3 (ANI): The Reserve Bank of India (RBI) has announced the re-issue of two Government of India dated securities worth a total of Rs 32,000 crore. A 're-issue' means the RBI is selling more of a bond that is already available in the securities market. This move is part of the government's regular borrowing program. The two securities being re-issued are the 6.92 per cent Government Security (GS) maturing on November 18, 2039, and the 6.90 per cent GS maturing on April 15, 2065. Each of these bonds will be issued for Rs 16,000 crore. Additionally, the RBI has kept the option open to accept up to Rs 2,000 crore extra for each security, depending on market demand. According to the RBI's announcement on Monday, the auction will be held on Friday, June 6, 2025. The settlement, when investors make payments and receive the securities, will take place on Monday, June 9, 2025. The sale will be conducted through the RBI's Core Banking Solution system, known as e-Kuber. Both competitive and non-competitive bids can be submitted electronically on the day of the auction. Non-competitive bids will be accepted between 12:30 p.m. and 1:00 p.m., while competitive bids can be submitted between 12:30 p.m. and 1:30 p.m. The auction will follow a multiple price method, meaning successful bidders will receive the securities at the prices they quote. The central bank also stated that primary dealers can bid for underwriting a part of the issue through the Additional Competitive Underwriting (ACU) facility. These bids will be accepted from 10:30 a.m. to 11:00 a.m. on the same day. The securities will be available for 'When Issued' trading from June 3 to June 6, allowing early trading before the official issuance. Retail investors can also participate through the RBI Retail Direct platform. Moreover, 5 per cent of the notified amount is reserved for eligible individuals and institutions under the non-competitive bidding scheme. This auction is part of the RBI's regular debt management process and offers a secure investment opportunity to investors. The Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25, Ministry of Statistics and Programme Implementation's official data showed. The official GDP growth data for the January-March (Fourth quarter) also showed that the economy grew 7.4 per cent during the quarter. During the April-June, July-September, and October-December 2024 quarters, the country's economy, in real terms, observed a growth rate of 6.7 per cent, 5.6 per cent, and 6.2 per cent, respectively. (ANI)
India Gazette
4 days ago
- Business
- India Gazette
RBI announces reissue of two Govt securities worth Rs 32000 crore
Mumbai (Maharashtra) [India], June 3 (ANI): The Reserve Bank of India (RBI) has announced the re-issue of two Government of India dated securities worth a total of Rs 32,000 crore. A 're-issue' means the RBI is selling more of a bond that is already available in the securities market. This move is part of the government's regular borrowing program. The two securities being re-issued are the 6.92 per cent Government Security (GS) maturing on November 18, 2039, and the 6.90 per cent GS maturing on April 15, 2065. Each of these bonds will be issued for Rs 16,000 crore. Additionally, the RBI has kept the option open to accept up to Rs 2,000 crore extra for each security, depending on market demand. According to the RBI's announcement on Monday, the auction will be held on Friday, June 6, 2025. The settlement, when investors make payments and receive the securities, will take place on Monday, June 9, 2025. The sale will be conducted through the RBI's Core Banking Solution system, known as e-Kuber. Both competitive and non-competitive bids can be submitted electronically on the day of the auction. Non-competitive bids will be accepted between 12:30 p.m. and 1:00 p.m., while competitive bids can be submitted between 12:30 p.m. and 1:30 p.m. The auction will follow a multiple price method, meaning successful bidders will receive the securities at the prices they quote. The central bank also stated that primary dealers can bid for underwriting a part of the issue through the Additional Competitive Underwriting (ACU) facility. These bids will be accepted from 10:30 a.m. to 11:00 a.m. on the same day. The securities will be available for 'When Issued' trading from June 3 to June 6, allowing early trading before the official issuance. Retail investors can also participate through the RBI Retail Direct platform. Moreover, 5 per cent of the notified amount is reserved for eligible individuals and institutions under the non-competitive bidding scheme. This auction is part of the RBI's regular debt management process and offers a secure investment opportunity to investors. The Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25, Ministry of Statistics and Programme Implementation's official data showed. The official GDP growth data for the January-March (Fourth quarter) also showed that the economy grew 7.4 per cent during the quarter. During the April-June, July-September, and October-December 2024 quarters, the country's economy, in real terms, observed a growth rate of 6.7 per cent, 5.6 per cent, and 6.2 per cent, respectively. (ANI)
Business Standard
4 days ago
- Business
- Business Standard
Government of India announces the sale of two dated securities for a notified amount of ₹32,000 crore
The Government of India (GoI) has announced the sale (re-issue) of (i) 6.92% GS 2039 for a notified amount of ₹16,000 crore and (ii) 6.90% GS 2065 for a notified amount of ₹16,000 crore. 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 June 06, 2025 (Friday). GoI will have the option to retain additional subscription up to ₹2,000 crore against each security.
Time of India
29-05-2025
- Business
- Time of India
RBI's cloud storage facility to help localise data
Mumbai: RBI will promote data localisation by providing its own cloud services through the launch of Phase I of the Indian Financial Services (IFS) Cloud in 2025-26. Developed by its subsidiary IFTAS, the community cloud is designed exclusively for RBI and financial institutions to enhance data security, privacy, and operational efficiency while ensuring compliance with India's data localisation rules. The platform will offer affordable, scalable cloud services, enabling smaller banks and NBFCs to access advanced technology, reduce costs, and encourage collaboration with domestic tech firms. Ownership is expected to transfer to a consortium of financial sector players over time. The central bank will also upgrade e-Kuber, its core banking solution, with new modules for govt auctions, public debt management, and financial literacy. e-Kuber supports over 250 commercial banks and state govts, provides a single account structure, and handles real-time settlements such as RTGS and NEFT. Its cloud-native, API-first design improves scalability and flexibility to handle rising transaction volumes and digital initiatives. Further reforms include developing alternate digital payment and messaging systems with advanced features and modern standards to enhance security and user experience. RBI will introduce an AI governance policy to ensure responsible use of AI and machine learning by employees and partners, focusing on data protection and operational integrity. To tackle growing digital payment fraud, RBI plans to launch exclusive internet domains—' for banks and ' for financial services—with IDRBT as registrar. This aims to reduce phishing and cyber threats and strengthen trust in digital banking. These steps reflect RBI's focus on modernising India's payment infrastructure, enhancing security, and driving innovation amid rapid digitalisation. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
29-05-2025
- Business
- Time of India
RBI will modernise payment infrastructure security and innovation through cloud services and digital reforms
RBI will promote data localisation by providing its own cloud services through the launch of Phase I of the Indian Financial Services (IFS) Cloud in 2025-26. Developed by its subsidiary IFTAS, the community cloud is designed exclusively for RBI and financial institutions to enhance data security, privacy, and operational efficiency while ensuring compliance with India's data localisation rules. The platform will offer affordable, scalable cloud services, enabling smaller banks and NBFCs to access advanced technology, reduce costs, and encourage collaboration with domestic tech firms. Ownership is expected to transfer to a consortium of financial sector players over time. The central bank will also upgrade e-Kuber, its core banking solution, with new modules for govt auctions, public debt management, and financial literacy. e-Kuber supports over 250 commercial banks and state govts, provides a single account structure, and handles real-time settlements such as RTGS and NEFT. Its cloud-native, API-first design improves scalability and flexibility to handle rising transaction volumes and digital initiatives. Further reforms include developing alternate digital payment and messaging systems with advanced features and modern standards to enhance security and user experience. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo RBI will introduce an AI governance policy to ensure responsible use of AI and machine learning by employees and partners, focusing on data protection and operational integrity. To tackle growing digital payment fraud, RBI plans to launch exclusive internet domains—' for banks and ' for financial services—with IDRBT as registrar. This aims to reduce phishing and cyber threats and strengthen trust in digital banking. These steps reflect RBI's focus on modernising India's payment infrastructure, enhancing security, and driving innovation amid rapid digitalisation. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
