[India] Key Regulatory Updates on Banking & Trade

Welcome to Carver's India Regulatory Updates for May 17, 2026. The Reserve Bank of India, or RBI, has announced the auction schedule for Government of India dated securities. On May 15, 2026, market participants are required to submit their bids electronically via the RBI's e-Kuber system. Non-competitive bids must be submitted between 10:30 a.m. and 11:00 a.m., while competitive bids will be accepted from 10:30 a.m. to 11:30 a.m. The payment by successful bidders is due on May 18, 2026. In liquidity management, the Reserve Bank of India will conduct a three-day Variable Rate Repo auction under the Liquidity Adjustment Facility on May 12, 2026. The notified amount for this auction is 7,000 crore, with a tenor of three days and reversal scheduled for May 15, 2026. Banks participating in the auction must submit their bids between 9:30 a.m. and 10:00 a.m. on the auction day, following operational guidelines as per RBI Press Release 2021-2022/1572 dated January 20, 2022. The Reserve Bank of India has also cancelled the licence of Sarvodaya Co-operative Bank Limited, Mumbai, effective May 12, 2026. The bank is prohibited from conducting any banking business, including accepting deposits or repaying them. The Commissioner for Cooperation and Registrar of Cooperative Societies will initiate the winding-up process and appoint a liquidator. Depositors of Sarvodaya Co-operative Bank Limited are entitled to deposit insurance claims up to 7,00,000 from the Deposit Insurance and Credit Guarantee Corporation. Regarding the Sovereign Gold Bond Scheme, the redemption price for premature redemption of the 2018-19 Series-III bonds due on May 13, 2026, has been fixed at 7,102 per unit. This price is based on the simple average of closing gold prices over the previous three business days as published by the Indian Bullion and Jewellers Association. Premature redemption is permitted after the fifth year from the issue date, on the interest payment date. The Government of India has issued a Request for Proposal for the procurement of IT infrastructure, including desktops, laptops, and network attached storage, along with IT asset management services. The bid details specify eligibility criteria such as a minimum of three years experience supplying similar products to government or public sector undertakings. There are relaxations in turnover and experience requirements for Micro and Small Enterprises and startups. The procurement policy promotes Make in India and MSME participation, supporting domestic manufacturing and reducing procurement risks. Finally, the Directorate General of Trade Remedies in India has initiated an initial investigation concerning ductile cast iron tubes and pipes. The investigation includes defined timelines for verification visits, provisional and definitive measures. Interested parties are required to submit comments within specified deadlines and respond to disclosure letters. Compliance with any imposed provisional or definitive measures will be mandatory. That wraps up today's regulatory updates. Visit carveragents.ai for more information.