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Reserve Bank of India, Chennai invites E-Tender for Tender for supply, installation, testing and commissioning of 03 nos. of door frame metal detectors for main office building at Reserve Bank of India, Chennai
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Cholamandalam Investment & Finance Company Ltd (CIFCL) has posted a 5 per cent growth in its net profit at ₹409 crore for the quarter ended December 31, 2020 compared with ₹389 crore in the year-ago period, supported by growth in income.
The company’s total income grew 10 per cent at ₹2,505 crore as against ₹2,275 crore in the year-ago period. Net income margin grew 26 per cent at ₹1,364 crore (₹1,082 crore), according to a statement
CIFCL reported higher loan losses at ₹445 crore, which included additional Covid-19 provisions of ₹216 crore for the nine-month ended December 31, 2020, and total Covid-19 provisions as of December 20 is ₹750 crore.
The aggregate disbursements grew six per cent at ₹7,926 crore (₹7,475 crore). In the vehicle finance business, disbursements grew marginally to ₹6,084 crore from ₹5,949 crore in Q3 of previous fiscal.
Home loan business’ disbursements at ₹434 crore (₹400 crore). Loan Against Property business disbursed ₹1,265 crore as against ₹908 crore in the year-ago quarter, an increase of 39 per cent.
CIFCL asset quality as at end of December 2020, represented by Stage 3 assets stood at 2.57 per cent, with a provision coverage of 44.94 per cent as against 3.54 per cent as of December 2019 with a provision coverage of 32.95 per cent.
The company continues to carry additional provision of ₹751 crore for future contingencies as on December 31, 2020. The total provisions currently carried against the overall book is 3.09 per cent as against the normal overall provision levels of 1.75 per cent carried prior to the Covid-19 pandemic, representing an increase of above 75 per cent.
As of December 2020, the company held a strong liquidity position with ₹6,228 crore as cash balance (including ₹1,500 crore invested in Gsec shown under investments, as it is held to maturity), with a total liquidity position of ₹10,923 crore (including undrawn sanctioned lines).
“The ALM is comfortable with no negative cumulative mismatches across all time buckets,” said the statement. Assets under management grew 15 per cent at ₹75,813 crore (₹65,992 crore in the year-ago quarter). The Board declared an Interim dividend of 65 per cent being ₹1.30 per share on the equity shares of the Company, for the year ending March 31, 2021.
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e-Tender No.: RBI/Belapur/Estate/67/20-21/ET/111 Attention is invited to the captioned e-tender No. RBI/Belapur/Estate/67/20-21/ET/111. This e-tender was floated on September 1, 2020 under the “Tenders” link of RBI website (www.rbi.org.in) and MSTC portal (www.mstcecommerce.com). 2. The captioned tender stands cancelled. A fresh tender will be uploaded on RBI website as well as MSTC Portal shortly. Firms who had deposited EMD with RBI, Belapur for the captioned tender shall get their EMD refund shortly. Chief General Manager |
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Union Bank of India (UBI) reported a 37 per cent year-on-year (yoy) decline in standalone net profit at ₹727 crore in the third quarter (Q3FY21) ended December 31, 2020 against ₹1,159 crore in the year ago quarter.
The public sector bank’s standalone net profit in the reporting quarter, however, was up 41 per cent quarter-on-quarter (QoQ) vis-a-vis preceding quarter’s ₹517 crore.
Rajkiran Rai G, MD & CEO, explained that, “In Q3FY20, there was a recovery in the Essar Steel account… In case of (erstwhile) Corporation Bank, they had written back about ₹1,500 crore as profit. So, that was one-off entry…that is pushing the numbers of the previous year up. Otherwise, operating performance is better this year.”
Andhra Bank and Corporation Bank were merged with UBI with effect from April 1, 2020. The bottomline in the third quarter was supported by a ₹672 crore write-back in tax expenses.
Net interest income (the difference between interest earned and interest expended) was up 5 per cent yoy at ₹6,590 crore (₹6,285 crore in the preceding quarter). Non-interest income, comprising total fee income, dividend income, trading gains, recovery from technically written-off accounts, was down 18 per cent at ₹3,016 crore (₹3,667 crore).
GNPAs declined to 13.49 per cent of gross advances as at December-end 2020 against 14.71 per cent as at September-end 2020. Net NPAs declined to 3.27 per cent of net advances as at December-end 2020 against 4.13 per cent as at September-end 2020.
With proforma slippages (adjusted for the Supreme Court’s interim order), Gross and Net NPA ratio would have been 15.28 per cent and 5.02 per cent, respectively.
Non-performing asset (NPA) loan provisions were down 22 per cent yoy at ₹3,036 crore (₹3,898 crore). However, provisions for standard assets rose to ₹2,227 crore against a write-back of ₹211 crore in the year ago quarter.
Rai said the restructuring book for Covid-19 related stress stood at ₹16,726 crore. Out of that ₹3,272 crore has already been restructured up to December 31, 2021. The expected restructuring ₹13,454 crore in the next six months, he added.
UBI is expecting to recover about ₹4,000 crore to ₹5,000 crore in current quarter. Of this, a chunk of the recovery is expected to come from two large corporate accounts which have been resolved under the Insolvency & Bankruptcy Code.
Rai said post-amalgamation, UBI made savings of about ₹800 crore through synergy realisation till December-end 2020. It expects savings of about ₹3,600 crore over three years.
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IndusInd Bank reported a 34.4 per cent drop in its standalone net profit in the third quarter of the fiscal to ₹852.76 crore as against ₹1,300.2 crore in the same period a year ago.
For the quarter ended December 31, 2020, its net interest income rose by a robust 10.8 per cent to ₹3,406.1 crore as compared to ₹3,074.02 crore in the same period last fiscal. Net Interest Margin for the quarter was 4.12 per cent.
Other income however, declined to ₹1,705.46 crore in the October to December 2020 compared to ₹1,789.40 crore a year ago. Provisions surged by 77.6 per cent to ₹1,853.52 crore in the third quarter of the fiscal as against Rs ₹1,043.45 crore a year ago.
Gross non performing assets stood at 1.74 per cent and net NPAs amounted to 0.22 per cent as on December 31, 2020 versus 2.18 per cent and 1.05 per cent respectively as on December 31, 2019. Asset quality was stable.
The pro forma gross NPA would have been at 2.93 per cent and the pro forma net NPA after considering provisions allocated would have been 0.70 per cent. The restructuring pursuant to RBI resolution framework stands at 0.60 per cent of advances as at December 31, 2020. The bank improved the Provision Coverage Ratio to 87 per cent as on December 31, 2020 from 53 per cent as on December 31, 2019.
“Loan growth was strong in areas of domain expertise and helped increase our net interest income 11 per cent year on year. The bank has conservatively built strong Provision Cover at 87 per cent resulting in a net NPA of just 0.22 per cent with total provisions (comprising specific, floating, general and standard assets provisions) being 188 per cent of the gross NPA as on December 31, 2020. We now look forward to a more secular growth profile going forward,” said Sumant Kathpalia, Managing Director and CEO, IndusInd Bank.
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The Pre-Bid meeting for the captioned tender was held on January 28, 2021 at 11.00 A.M in conference room, Estate Office, MRO. The meeting was chaired by Shri Ramesh J. Mane, Assistant Manager(Tech) and officials of Estate office, Shri Anand Mahadevan, Asst. Manager also attended the meeting. One firm namely M/s Reddonatura India Pvt Ltd. participated in the pre-bid meeting. 2. All the terms and conditions were explained to the firm and no specific query was raised by the firm and the firm has agreed with the tender terms and conditions. 3. Meeting ended with Thanks |
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Today, the Reserve Bank of India (RBI) has, vide order dated January 28, 2021 cancelled the licence of Shivam Sahakari Bank Ltd, Ichalkaranji, Kolhapur, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on January 29, 2021. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as:
2. Consequent to the cancellation of its licence, Shivam Sahakari Bank Ltd, Ichalkaranji, Kolhapur, Maharashtra is prohibited from conducting the business of ‘banking’ which includes acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect. 3. With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of Shivam Sahakari Bank Ltd, Ichalkaranji, Kolhapur, Maharashtra as per the DICGC Act, 1961 will be set in motion. As per the data submitted by the bank, more than 99% of the depositors are fully insured by Deposit Insurance and Credit Guarantee Corporation (DICGC). On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees Five lakh only) from the DICGC subject to the provisions of the DICGC Act, 1961. (Yogesh Dayal) Press Release: 2020-2021/1019 |
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E-Tender No.: RBI/Thiruvananthapuram/HRMD/33/20-21/ET/422 The Pre-bid meeting for the captioned tender was held on January 20, 2021 from 11.00 hours to 12.00 hours through Webex Meeting, chaired by Shri S Sankar, Assistant General Manager. Officials from Human Resource Management Department, Protocol & Security Cell and representatives of various prospective bidders participated in the meeting. Shri S Sankar, Assistant General Manager welcomed all participants (List attached – Annexure P) to the meeting and invited queries from the prospective bidders regarding the captioned tender. The queries raised by the prospective bidders during the meeting, over telephone and email along with the Bank’s clarifications, comments, corrections and additions are tabulated below.
Shri Sabu S Rajan, Assistant Manager thanked all participants for attending the meeting. The Meeting came to an end at 12.00 hours Regional Director for Kerala and Lakshadweep List of Participants
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In terms of GoI notification F.No.4(4)-B(W&M)/2020 and RBI circular IDMD.CDD.No.730/14.04.050/2020-21, dated October 09, 2020, the Sovereign Gold Bond Scheme 2020-21 – Series XI will be open for subscription for the period from February 01, 2021 to February 05, 2021. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. January 27 – 29, 2021 works out to ₹4,912/- (Rupees Four thousand nine hundred and twelve only) per gram of gold. Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹50/- per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of Gold Bond will be ₹4,862/- (Rupees Four thousand eight hundred and sixty two only) per gram of gold. (Yogesh Dayal) Press Release: 2020-2021/1018 |
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Private sector lender ICICI Bank has settled a case with SEBI relating to the alleged failure against victimisation of the whistle-blower, after paying ₹28.4 lakh as settlement charges.
“High Powered Advisory Committee in its meeting held on December 30, 2020, considered the revised settlement terms proposed and recommended the case for settlement upon payment of ₹28,40,625 towards settlement charges,” SEBI said in its settlement order.
“…in view of the acceptance of the settlement terms and receipt of settlement charges as
mentioned above by SEBI, the instant adjudication proceedings initiated against the applicant vide
SCN dated January 30, 2020 are disposed of… based on the settlement terms,” it further said, adding that the order shall come into force with immediate effect.
After ICICI Bank proposed to settle the instant proceedings, SEBI agreed to the settlement, “without admitting or denying the findings of fact and conclusions of law”, through a settlement order and had filed a settlement application.
The case pertains to a complaint filed by an ex-employee of the bank Samir Kumar Das on January 8, 2019, on the SCORES platform. Das raised issues that he was victimised by the private sector lender in contravention of the whistle-blower mechanism’s provisions.
Das’s contention is that ICICI’s rights are limited to transferring an employee only to a group company and not to ICICI Foundation.
The bank offered him to join SMEAG (Small Medium Enterprise And Agri Group) on November 13, 2018, to which he expressed reservations to join considering that they were officials against whom he had blown the whistle, the order mentioned.
After reconsideration given his transfer to ICICI Foundation, he offered to join SMEAG on November 14, 2018. The bank did not accept, thereby allegedly violating the code of conduct and corporate governance not giving him a suitable environment to work, it added.
The bank’s offer to join the ICICI Foundation was detrimental to his interests and his banking career, Das said in his complaint.
During examination by SEBI, the ICICI Bank’s response was not found satisfactory. It was observed that the lender failed to provide appropriate protection against victimisation of the complainant who was the whistle-blower against the bank the order mentioned.
“In view of the above, SEBI felt satisfied that there are sufficient grounds to inquire and adjudicate upon the aforesaid violations by the Noticee,” the order further said.
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