Month: January 2021

Reserve Bank of India – Tenders

Tenders

[ad_1]

Read More/Less


E-Tender No.: RBI/Thiruvananthapuram/HRMD/34/20-21/ET/423

The Pre-bid meeting for the captioned tender was held on January 20, 2021 from 15.00 hours to 16.00 hours through Webex Meeting, chaired by Shri S Sankar, Assistant General Manager. Officials from Human Resource Management Department, Protocol & Security Cell and representative of a prospective bidder participated in the meeting.

Shri S Sankar, Assistant General Manager welcomed the participant (List attached – Annexure P) to the meeting and invited queries from the prospective bidder 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.

No Query Clarification, Comments, Corrections and Additions
1 Whether any relaxation for EMD eligible for MSME / NSIC certificate holders Bidders, irrespective of their category, are ineligible for relaxation in submission of Earnest Money Deposit (EMD).
2 Whether wages are to be paid to the staff based on DGR guidelines Para ‘4.19’ of the tender document may be referred to. The latest DGR wage rates, which are effective from October 01, 2020, may be borne in mind while quoting rates. The documentary proof of payment of DGR wages to their employees will be obtained by the Bank for processing contractor’s monthly invoices. DGR wages as mentioned in the tender document represents all components ranging from serial numbers ‘(a)’ to ‘(j)’ for the category ‘Security Guard Without Arms (skilled) for ‘Area B’ of the latest DGR notification “NOTICE OF REVISION OF MINIMUM WAGES FOR ONE DAY W.E.F. 01 October 2020”. The limits, applicability and contribution/payment percentage, etc. shall be read in conjunction with latest rules / Acts / regulations and policies as promulgated by Competent Government Authority.
3 Whether the Bank reimburses revision in Minimum Wages as and when the Government of India revises Minimum Wages effective from April and October every year. Para ‘4.51’ of the tender document may be referred to for more details.
4 Whether the Bank reimburses the components that form part of the salary of employees viz. EPF, ESI, Bonus, etc. as and when the Government of India revises Minimum Wages effective from April and October every year. Para ‘4.51’ of the tender document may be referred to for more details.
5 How to quote rates in the Financial Bid

The rates (exclusive of GST) are to be quoted in lumpsum under the two rows/fields in the Bank’s e-procurement portal.

a) Serial No. ‘1’ of the Financial Bid is exclusively meant for quoting Basic Wages (BW) including Variable Dearness Allowance (VDA) per Annum for the firemen and supervisor deployed for the entire 12 months based on the estimated annual duties. The bidders shall keep in mind the applicable minimum wages effective from October 2020. The current Basic wage plus VDA as notified by the Central Labour Commissionerate, Govt. of India under the category ‘WATCH AND WARD (without arms) for ‘Area B’ is ₹707.00 per duty. The bidders shall refer to Part-I of the document for more details.

b) Serial No. ‘2’ of the Financial Bid is exclusively meant for quoting Annual Service Charges of the bidder which shall also be inclusive of the following:

  1. All components of wage structure, excluding the charges for Basic Wages plus VDA components which must be quoted under Serial No. ‘1’, as per latest DGR notification available as on date (effective from October 2020).

  2. All statutory charges viz. Employer’s EPF and ESI contribution, Bonus to Employees, other DGR wage components, levies, duties, etc. and their possible escalation in future. The bidders shall keep in mind the applicable rates, limits and other criteria as per various statutes viz. Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, The Employees State Insurance Act, 1948, The Payment of Bonus Act, 1965, etc. and their rules, regulations, latest notifications, etc.

  3. All expenses related to the supply of all accessories / Uniform / equipment to be provided to the firemen.

  4. Overtime wages / charges, if any, payable.

  5. Overtime wages, if any, to be paid for deploying guards on specified National Holidays, etc.

  6. Any such expense which form part of the Contractor’s obligations as per the tender document or obligation(s) which is/are statutory in nature.

6 Whether the bidders can offer ‘zero’ in any of the fields of the Price Bid Para ‘3.20’ of the tender document may be referred to. Bidders offering ‘zero’ or irrational quotes shall be liable for disqualification. However, variation in bidder’s offer from that of the Bank’s estimate with respect to any of the fields of Part-II – Financial Bid (Price Bid) due to difference in methods of round-off or difference in method of estimation but adhering to the tender conditions, shall not be treated as an irrational quote.
7 Short description provided in the Financial Bid The description provided in the user interface of the Bank’s e-procurement portal, against the two price fields shall be considered as ‘short description’ due to character limit and symbol restriction. The bidders shall refer to Part-II-Financial Bid of the tender document for detailed information before quoting.
8 Page 10 of tender document says that details of similar completed works (providing security guards) to be submitted. Please clarify.

Following corrections shall be noted by bidders before offering the quote:

  1. The words “security guards”, “guard” and “guards” appearing in para ‘2.4’, para ‘4.10’ and para ‘4.30’ of the tender document shall be replaced with the word “fire-staff” and read accordingly.

  2. The word “colonies” appearing in para ‘4.33’ of the tender document shall be replaced with the word “premises” and read accordingly.

  3. The word “colonies” appearing in para “4.10” of the tender document shall be deleted.

  4. The word “residential” appearing in para “4.24 (e)” of the tender document shall be deleted.

  5. The entire para ‘6.4’ of the tender document shall be replaced with the words “6.4. I/We shall provide fire security services by deploying requisite number of fire staff as and when required by the Bank.” and read accordingly.

  6. The entire para ‘6.5’ of the tender document shall be replaced with the words “6.5. I/We do hereby undertake that the fire security of the Bank’s Main Office Premises shall be ensured by us, as well as any other assignment considered by the Bank.” and read accordingly.
9 As per the gratuity Act, every employee who has worked for over 4.8 years will be eligible for the same. Whether RBI reimburses gratuity amount wherever applicable? Para ‘4.9’, para ‘4.30’ and para ‘6.3’ of the tender document may be referred to. It is reiterated that the personnel deployed by the contractor will be the employees of the contractor for all intents and purposes. They shall not have any claim or right against the Bank, nor can they claim any Association / rights as an employee of the Bank. Hence, the possible expense, if any, in this regard under Serial No. ‘2’ of the Financial Bid may be incorporated by the bidder.
10 We understand that the tender (contract) is for a period of one year extendable for a further period up to 2 years. We would like to know whether the said extension is on a mutually agreeable basis. Kindly explain the notice period the service provider will have to serve. Para ‘4.49’ and para ‘4.50’ of the tender document may be referred to.
11 Whether RBI will be compliant as per the wage code, 2019 that is coming into effect in the next couple of months? Para ‘4.9’, para ‘4.30’ and para ‘6.3’ of the tender document may be referred to. It is reiterated that the personnel deployed by the contractor will be the employees of the contractor for all intents and purposes. They shall not have any claim or right against the Bank, nor can they claim any Association / rights as an employee of the Bank. Hence, the possible expense, if any, in this regard under Serial No. ‘2’ of the Financial Bid may be incorporated by the bidder.
12 Please confirm whether casual leave as per act will be provided by RBI. Also, please confirm whether NFH (Double wages) will be provided by RBI Para ‘4.9’ and para ‘4.30’ of the tender document may be referred to. It is reiterated that the personnel deployed by the contractor will be the employees of the contractor for all intents and purposes. They shall not have any claim or right against the Bank, nor can they claim any Association / rights as an employee of the Bank. Hence, the possible expense, if any, in this regard may be incorporated under Serial No. ‘2’ of the Financial Bid by the bidder. The duties as per the scope of work shall be ensured by the contractor. Provision of Casual Leave, Overtime Wages, Double the wages for National / Festival holidays, etc. shall be the responsibility of the contractor based on applicable statutes and the deployment of adequate relievers shall be the responsibility of the contractor only. Any additional cost in this regard may be incorporated by the bidder under Serial No. ‘2’ of the Financial Bid.
13 Request to change the age limit criteria for Supervisors The firemen deployed shall not be above the age of sixty. Based on the market conditions pointing to limited availability of experienced supervisors, the Bank, based on the advice of its Security Officer (s), shall permit deployment of supervisors beyond the age of sixty considering their suitability, efficiency, experience and exposure in this field.

Shri Sabu S Rajan, Assistant Manager thanked all participants for attending the meeting. The Meeting came to an end at 16.00 hours

Regional Director for Kerala and Lakshadweep

Annexure P

List of Participants

SL No. Name of the Service Provider Name (s) of the Representative
1 Updater Service Private Limited Shri Sanjayanadh

[ad_2]

CLICK HERE TO APPLY

Leave a comment

5 Facts To Consider Before Making Partial Withdrawal From EPF Account

Personal Finance

[ad_1]

Read More/Less


Investment

oi-Vipul Das

|

The Employees’ Provident Fund (EPF), a government-owned pension plan managed by the Employees’ Provident Fund Organization (EPFO), enables the members/holders under certain conditions, to make only partial withdrawals from the PF pool. The holder must be at least 58 years of age in order to withdraw 100 per cent of the corpus. Even, one can withdraw up to 90 per cent of his or her corpus at the age of 57 years. The PF amount is compensated as a lump sum at the time of retirement or after the maturity period. A contributor must then manage the withdrawals in the proper manner to get monthly income before his/her lifespan is reached.

Studies recommend withdrawing the PF amount before retirement should not be made. The subscribers can, though, do so in an attempt to fulfill short-term requirements. For financial objectives such as education, wedding scheduling, housing development, and any sort of medical condition, partial withdrawals are permitted. However, note that the interest gained and withdrawals are not taxed. Only under certain circumstances partial withdrawals or advances from PF is permitted. Remember that, though, that EPF functions on compounding and, if permitted to grow the corpus can yield tremendous gains.

5 Facts To Consider Before Making Partial Withdrawal From EPF Account

Fact 1: You can withdraw money for the medical care of yourself, spouse, family, or children from your PF corpus. The contributor can withdraw a basic wage of 6 months plus Dearness Allowance (DA) or interest payments of employees, whichever is low. Therefore, for medical care, you can withdraw up to 6 times of your salary. There is also no minimum duration of employment needed for the same.

Fact 2: A PF withdrawal can be made in the case of self-marriage or child or brother or sister. An overall PF withdrawal of 50 per cent of the employee’s portion can be made. Remember that to reap from this condition, subscribers will have to achieve a minimum of 7 years of employment.

Fact 3: For educational causes up to 50 per cent of the pledge of employees towards the education of themselves or children after Matriculation examination can be withdrawn. For this, a subscriber will have to finish 7 years of operation Therefore, for marriage or education, up to 50 percent of the contributions rendered can be withdrawn 3 times.

Fact 4: For home loan reimbursement, once the subscriber has served 10 years of employment, up to a limit of 90 percent can be withdrawn from both the contribution of the employer and employee. Please remember that the property needs to be registered on behalf of or jointly with the employee or spouse. Therefore, for the reimbursement of a home loan, it is possible to withdraw up to 36 times the subscriber’s wage.

Fact 5: Similarly, PF can also be withdrawn for a house reconstruction, for which the subscriber will have to undergo 5 years of employment. Therefore, a subscriber can withdraw up to 12 times his/her salary for upgrading and renovating his/her house, and the contributor can withdraw up to 24 times his/her salary for the acquisition of a site or land estate.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Dvara KGFS bags ‘Technology for Financial Inclusion’ award

Banking & Finance

[ad_1]

Read More/Less


Dvara KGFS announced that it has won ‘Technology for Financial Inclusion’ award at the Inclusive Finance India Awards 2020.

In a press release, the Chennai-based NBFC said the award was presented to it in recognition for the robust technology offering a suite of financial services and products for the underserved section of the society and their operational excellence over the last year.

The award was presented by Anurag Thakur, Minister of State for Finance and Corporate Affairs to Joby C O, CEO of Dvara KGFS.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , ,

Reserve Bank of India – Press Releases

Press Releases

[ad_1]

Read More/Less


Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

Sr. No Treasury Bill Notified Amount
(in ₹ crore)		 Auction Date Settlement date
1 91 Days 4,000 February 03, 2021
(Wednesday)		 February 04, 2021
(Thursday)
2 182 Days 7,000
3 364 Days 8,000
  Total 19,000    

The sale will be subject to the terms and conditions specified in the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 along with the Amendment Notification No.F.4(2)-W&M/2018 dated April 05, 2018, issued by Government of India, as amended from time to time. State Governments, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard, can participate on non-competitive basis, the allocation for which will be outside the notified amount. Individuals can also participate on non-competitive basis as retail investors. For retail investors, the allocation will be restricted to a maximum of 5 percent of the notified amount.

The auction will be Price based using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India’s Core Banking Solution (E-Kuber) system on Wednesday, February 03, 2021, during the below given timings:

Category Timing
Competitive bids 10:30 am – 11:30 am
Non-Competitive bids 10:30 am – 11:00 am

Results will be announced on the day of the auction.

Payment by successful bidders to be made on Thursday, February 04, 2021.

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: 022-27595666, 022-27595415, 022-27523516). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Ajit Prasad
Director   

Press Release: 2020-2021/1017

[ad_2]

CLICK HERE TO APPLY

Leave a comment

IndusInd Bank Q3 net profit down 34%

Banking & Finance

[ad_1]

Read More/Less


IndusInd Bank reported a 34.4 per cent drop in its net profit for 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, its net interest income rose by a robust 10.8 per cent to ₹3,406.1 crore 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-December quarter, 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 ₹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, versus 2.18 per cent and 1.05 per cent respectively– as on December 31, 2019.

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.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , ,

Reserve Bank of India – Press Releases

Press Releases

[ad_1]

Read More/Less


1. Reserve Bank of India – Liabilities and Assets*
(₹ Crore)
Item 2020 2021 Variation
Jan. 24 Jan. 15 Jan. 22 Week Year
1 2 3 4 5
4 Loans and Advances          
4.1 Central Government 24184 – – – -24184
4.2 State Governments 3234 9955 5868 -4088 2634
* Data are provisional.

2. Foreign Exchange Reserves
Item As on January 22, 2021 Variation over
Week End–March 2020 Year
₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn.
1 2 3 4 5 6 7 8
1 Total Reserves 4271528 585334 2383 1091 669373 107527 942898 118641
1.1 Foreign Currency Assets 3956665 542192 -229 685 622850 99979 868893 109273
1.2 Gold 266058 36459 2560 398 35531 5880 61247 7743
1.3 SDRs 11038 1513 -8 1 238 80 748 70
1.4 Reserve Position in the IMF 37767 5171 61 7 10754 1588 12010 1555
* Difference, if any, is due to rounding off

4. Scheduled Commercial Banks – Business in India
(₹ Crore)
Item Outstanding as on Jan. 15, 2021 Variation over
Fortnight Financial year so far Year-on-year
2019-20 2020-21 2020 2021
1 2 3 4 5 6
2 Liabilities to Others            
2.1 Aggregate Deposits 14624957 -93114 552823 1057465 1140621 1498362
2.1a Growth (Per cent)   –0.6 4.4 7.8 9.5 11.4
2.1.1 Demand 1573361 -47184 -177304 -43642 117165 239378
2.1.2 Time 13051596 -45930 730127 1101107 1023456 1258984
2.2 Borrowings 244418 -8737 -68092 -65020 -51445 -65744
2.3 Other Demand and Time Liabilities 570157 -77813 -28034 -33519 25778 54545
7 Bank Credit 10640563 -55765 231920 269703 671088 636921
7.1a Growth (Per cent)   –0.5 2.4 2.6 7.2 6.4
7a.1 Food Credit 86950 -5595 40491 35186 11153 4849
7a.2 Non-food credit 10553613 -50171 191429 234517 659935 632072

6. Money Stock: Components and Sources
(₹ Crore)
Item Outstanding as on Variation over
2020 2021 Fortnight Financial Year so far Year-on-Year
2019-20 2020-21 2020 2021
Mar. 31 Jan. 15 Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 16799963 18239236 -52481 -0.3 785537 5.1 1439273 8.6 1458820 9.9 2021632 12.5
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 2349748 2716961 42207 1.6 163306 8.0 367212 15.6 228781 11.5 501445 22.6
1.2 Demand Deposits with Banks 1737692 1695727 -47943 -2.7 -173393 -10.7 -41966 –2.4 123133 9.3 242607 16.7
1.3 Time Deposits with Banks 12674016 13783957 -46926 -0.3 794172 6.8 1109942 8.8 1099562 9.6 1268182 10.1
1.4 ‘Other’ Deposits with Reserve Bank 38507 42591 181 0.4 1452 4.6 4084 10.6 7344 28.4 9398 28.3
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 4960362 5718167 -105724 -1.8 611398 13.9 757805 15.3 567010 12.8 718280 14.4
2.1.1 Reserve Bank 992192 1051665 -50388   268067   59473   205958   -18353  
2.1.2 Other Banks 3968170 4666502 -55336 -1.2 343331 9.6 698332 17.6 361052 10.1 736633 18.7
2.2 Bank Credit to Commercial Sector 11038644 11298773 -55887 -0.5 282829 2.7 260129 2.4 736691 7.4 633225 5.9
2.2.1 Reserve Bank 13166 9341 -2155   -9127   -3825   -2042   3105  
2.2.2 Other Banks 11025478 11289433 -53732 -0.5 291956 2.8 263954 2.4 738733 7.4 630120 5.9

8. Liquidity Operations by RBI
(₹ Crore)
Date Liquidity Adjustment Facility MSF* Standing Liquidity Facilities Market Stabi lisation Scheme OMO (Outright) Long Term Repo Opera tions & Targeted Long Term Repo Opera tions# Special Liquidity Facility for Mutual Funds Special Liquidity Scheme for NBFCs/ HFCs** Net Injection (+)/ Absorption (-) (1+3+5+6+9+ 10+11+12+ 13-2-4-7-8)
Repo Reverse Repo* Variable Rate Repo Variable Rate Reverse Repo Sale Pur chase
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Jan. 18, 2021 – 438666 – – 121 – – – – – – – – -438545
Jan. 19, 2021 – 451593 – – 31 – – – 2895 – – – – -448667
Jan. 20, 2021 – 415601 – – 22 – – – – – – – – -415579
Jan. 21, 2021 – 428965 – – 0 –834 – – – – – – – -429799
Jan. 22, 2021 – 409837 – – 10 – – – 10000 – – – – -399827
Jan. 23, 2021 – 2286 – – 35 – – – – – – – – -2251
Jan. 24, 2021 – 5795 – – 79 – – – – – – – – -5716
*Includes additional Reverse Repo and additional MSF operations (for the period December 16, 2019 to February 13, 2020)
#Includes Targeted Long Term Repo Operations (TLTRO) and Targeted Long Term Repo Operations 2.0 (TLTRO 2.0). Negative (-) sign indicates repayments done by Banks.
**As per RBI Notification No. 2020-21/01 dated July 01, 2020. Negative (-) sign indicates maturity proceeds received for RBI’s investment in the Special Liquidity Scheme.
& Negative (-) sign indicates repayments done by Banks.

The above information can be accessed on Internet at https://wss.rbi.org.in/

The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762).

Time series data are available at https://dbie.rbi.org.in

Ajit Prasad
Director   

Press Release: 2020-2021/1016

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Tenders

Tenders

[ad_1]

Read More/Less


E-Tender No.: RBI/Thiruvananthapuram/HRMD/35/20-21/ET/424

The Pre-Bid meeting for the captioned tender was held on January 21, 2021 from 15.00 hours to 16.00 hours through Webex Meeting, chaired by Shri S Sankar, Assistant General Manager, Reserve Bank of India, Thiruvananthapuram. Officials from Human Resource Management Department and representatives of various prospective bidders participated in the meeting.

Shri Sabu S Rajan, Assistant Manager welcomed all the participants (List attached – Annexure P) to the meeting and invited queries, if any, from the prospective bidders regarding the captioned tender.

Details of queries raised by the prospective bidders and clarifications / comments / corrections / additions of the Bank are tabulated below.

No Query / Clarification Remarks / Comments / Corrections
1 Whether any relaxation for EMD, prior experience and turnover are provided to MSME / NSIC certificate holders. Bidders, irrespective of their category, are ineligible for relaxation in submission of Earnest Money Deposit (EMD) and requirements in annual turnover and prior experience specified in the tender document.
2 Whether the Bank reimburses revision in Minimum Wages as and when the Government of India revises Minimum Wages effective from April and October every year. Para ‘4.49’ of the tender document may be referred to for more details.
3 Whether the Bank reimburses the components that form part of the salary of employees viz. EPF, ESI, Bonus, etc. as and when the Government of India revises Minimum Wages effective from April and October every year. Para ‘4.49’ of the tender document may be referred to for more details.
4 How to quote rates in the Financial Bid.

The rates (exclusive of GST) are to be quoted in lumpsum under the two rows/fields in the Bank’s e-procurement portal.

a) Serial No. ‘1’ of the Financial Bid is meant only for quoting Basic Wages (BW) including Variable Dearness Allowance (VDA) per Annum for the employees deployed for the entire 12 months based on the estimated annual duties. The bidders shall keep in mind the applicable minimum wages effective from October 2020. The bidders shall refer to Part-I of the document for more details.

b) Serial No. ‘2’ of the Financial Bid is exclusively meant for quoting Annual Service Charges of the bidder which shall also be inclusive of the following:

  1. All components of wage structure, excluding the charges for Basic Wages plus VDA components which must be quoted under Serial No. ‘1, as per latest Central Labour Commissionerate notification available as on date (effective from October 2020).

  2. All statutory charges viz. Employer’s EPF and ESI contribution, Bonus to Employees, levies, duties, etc. and their possible escalation in future. The bidders shall keep in mind the applicable rates, limits and other criteria as per various statutes viz. Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, The Employees State Insurance Act, 1948, The Payment of Bonus Act, 1965, etc. and their rules, regulations, latest notifications, etc.

  3. All expenses related to the supply of accessories/ uniforms to be provided to the employees.

  4. Overtime wages / charges, if any, payable.

  5. Overtime wages, if any, to be paid for deploying employees on specified National Holidays, etc.

  6. Any such expense which form part of the Contractor’s obligations as per the tender document or obligation(s) which is/are statutory in nature.
5 Whether the bidders can offer ‘zero’ in any of the fields of the Price Bid Para ‘3.21’ of the tender document may be referred to. Bidders offering ‘zero’ or irrational quotes shall be liable for disqualification. However, variation in bidder’s offer from that of the Bank’s estimate with respect to any of the fields of Part-II – Financial Bid (Price Bid) due to difference in method of round-off or difference in method of estimation but adhering to the tender conditions, shall not be treated as an irrational quote.
6 Short description provided in the Financial Bid The description provided in the user interface of the Bank’s e-procurement portal, against the two price fields shall be considered as ‘short description’ due to character limit and symbol restriction. The bidders shall refer to Part-II-Financial Bid of the tender document for detailed information before quoting.
7 Whether the estimated cost of work of ₹29,00,000/- as mentioned in the tender document is inclusive of GST. The estimated cost of work of ₹29,00,000/- as mentioned in the tender document is inclusive of applicable GST rates.
8 Whether the estimated cost of work of ₹29,00,000/- is inclusive of the charges for Welcome Kit, Mineral Water, Newspapers and Tea/ Coffee Kit specified in para 5.15 of the tender document. The estimated cost of work of ₹29,00,000/- (inclusive of GST) is exclusive of the charges for Welcome Kit, Mineral Water, Newspapers and Tea/ Coffee Kit. The Agency being awarded the contract shall claim reimbursement of the same from the Bank as per para ‘5.16’ of the tender document.
9 Whether the format for Banker’s Certificate specified in Annexure-B of the tender document need to be scrupulously adhered to. The format for the Banker’s Certificate specified in Annexure- B of the tender document is indicative. However, bidders should ensure that all the mandatory details as per the specified format invariably form part of the Banker’s Certificate submitted by them.
10 Whether the format for Client Certificate specified in Annexure-C of the tender document need to be scrupulously adhered to. The format for Client Certificate specified in Annexure – C of the tender document is indicative. However, bidders should ensure that all the mandatory details as per the specified format invariably form part of the Client Certificate submitted by them. In case the certificate in possession of the bidder is not having any of the requisite fields/ information as per the specified format, other relevant documentary evidence in support thereof shall be furnished.

Shri Sabu S Rajan, Assistant Manager thanked all participants for attending the meeting. The Meeting came to an end at 16.00 hours.

Regional Director for Kerala and Lakshadweep

Annexure P

List of Participants

SL No. Name of the Service Provider Name (s) of the Representative
1 M/s Smyle Solutions Shri Renjith Unnikrishnan
2 M/s Genesis Shri Sunil Raymond
3 M/s Manful Solutions Shri Sushanth
4 M/s Cherish Hospitality Services India Pvt Ltd. Shri James Joseph
5 M/s Matha catering service. Shri Sebastian
6 M/s P.M.Catering Services Shri Nithyananda Nayak

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

Press Releases

[ad_1]

Read More/Less


Data on sectoral deployment of bank credit collected from select 33 scheduled commercial banks, accounting for about 90 per cent of the total non-food credit deployed by all scheduled commercial banks, for the month of December 2020 are set out in Statements I and II.

Highlights of the sectoral deployment of bank credit are given below:

  • On a year-on-year (y-o-y) basis, non-food bank credit growth stood at 5.9 per cent in December 2020 as compared to 7.0 per cent in December 2019.

  • Credit growth to agriculture and allied activities accelerated to 9.4 per cent in December 2020 from 5.3 per cent in December 2019.

  • Credit to industry contracted by 1.2 per cent in December 2020 as compared with 1.6 per cent growth in December 2019 mainly due to contraction in credit to large industries by 2.4 per cent as compared with 1.8 per cent growth a year ago. Credit to medium industries registered a robust growth of 15.3 per cent in December 2020 as compared to 2.5 per cent a year ago and credit to micro & small industries registered an accelerated growth of 1.2 per cent in December as compared to 0.1 per cent a year ago.

  • Within industry, credit to ‘food processing’, ‘gems & jewellery’, ‘petroleum, coal products & nuclear fuels’, ‘leather & leather products’, ‘paper & paper products’, ‘mining & quarrying’, ‘glass & glassware’ and ‘wood & wood products’ registered accelerated growth in December 2020 as compared to the growth in the corresponding month of the previous year. However, credit growth to ‘rubber plastic & their products’, ‘cement & cement products’, ‘all engineering’, ‘beverages & tobacco‘, ‘infrastructure’, ‘basic metal & metal products’ and ‘construction’ decelerated/contracted.

  • Credit growth to the services sector accelerated to 8.8 per cent in December 2020 from 6.2 per cent in December 2019 mainly on the back of acceleration in credit growth to ‘transport operators’ and ‘trade’.

  • Personal loans registered a decelerated growth of 9.5 per cent in December 2020 as compared with 15.9 per cent growth in December 2019. Vehicle loans continued to perform well registering an accelerated growth of 7.8 per cent in December 2020 as compared to 7.2 per cent a year ago.

Ajit Prasad
Director   

Press Release: 2020-2021/1015

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Tenders

Tenders

[ad_1]

Read More/Less


E-Tender No.: RBI/Thiruvananthapuram/HRMD/36/20-21/ET/425

The Pre-bid meeting for the captioned tender was scheduled to be held on January 21, 2021 from 11.00 hours to 12.00 hours through Webex Meeting, chaired by Shri S Sankar, Assistant General Manager. No bidder turned up for the meeting.

The queries raised by the prospective bidders over telephone and email along with the Bank’s clarifications, comments, corrections and additions are tabulated below.

No Query Clarification, Comments, Corrections and Additions
1 Whether any relaxation for EMD eligible for MSME / NSIC certificate holders Bidders, irrespective of their category, are ineligible for relaxation in submission of Earnest Money Deposit (EMD).
2 Whether wages are to be paid to the skilled dog handlers based on DGR guidelines Para ‘4.14’ of the tender document may be referred to. The latest DGR wage rates, which are effective from October 01, 2020, may be borne in mind while quoting rates. The documentary proof of payment of DGR wages to their employees will be obtained by the Bank for processing contractor’s monthly invoices. DGR wages as mentioned in the tender document represents all components ranging from serial numbers ‘(a)’ to ‘(j)’ for the category ‘Security Guard Without Arms (skilled) for ‘Area B’ of the latest DGR notification “NOTICE OF REVISION OF MINIMUM WAGES FOR ONE DAY W.E.F. 01 October 2020”. The limits, applicability and contribution/payment percentage, etc. shall be read in conjunction with latest rules / Acts / regulations and policies as promulgated by Competent Government Authority.
3 Whether the Bank reimburses revision in Minimum Wages as and when the Government of India revises Minimum Wages effective from April and October every year. Any revision to Basic Wages (including VDA), as notified by Government of India, will be reimbursed by the Bank. Para ‘4.47’ of the tender document may be referred to for more details.
4 Whether the Bank reimburses the components that form part of the salary of employees viz. EPF, ESI, Bonus, etc. as and when the Government of India revises Minimum Wages effective from April and October every year. Para ‘4.47’ of the tender document may be referred to for more details.
5 How to quote rates in the Financial Bid

The rates (exclusive of GST) are to be quoted in lumpsum under the two rows/fields in the Bank’s e-procurement portal.

a) Serial No. ‘1’ of the Financial Bid is exclusively meant for quoting Basic Wages (BW) including Variable Dearness Allowance (VDA) per Annum for the dog handlers deployed for the entire 12 months based on the estimated annual duties. The bidders shall keep in mind the applicable minimum wages effective from October 2020. The current Basic wage plus VDA as notified by the Central Labour Commissionerate, Govt. of India under the category ‘WATCH AND WARD (without arms) for ‘Area B’ is ₹707.00 per duty. The bidders shall refer to Part-I of the document for more details.

b) Serial No. ‘2’ of the Financial Bid is exclusively meant for quoting Annual Service Charges of the bidder which shall also be inclusive of the following:

  1. All components of wage structure, excluding the charges for Basic Wages plus VDA components which must be quoted under Serial No. ‘1’, as per latest DGR notification available as on date (effective from October 2020).

  2. All statutory charges viz. Employer’s EPF and ESI contribution, Bonus to Employees, other DGR wage components, levies, duties, etc. and their possible escalation in future. The bidders shall keep in mind the applicable rates, limits and other criteria as per various statutes viz. Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, The Employees State Insurance Act, 1948, The Payment of Bonus Act, 1965, etc. and their rules, regulations, latest notifications, etc.

  3. All expenses related to the supply of all accessories / Uniform / equipment to be provided to the dog handler.

  4. All expenses related to sniffer dogs, their food and medicine.

  5. Overtime wages / charges, if any, payable.

  6. Overtime wages, if any, to be paid for deploying dog handlers on specified National Holidays, etc.

  7. Any such expense which form part of the Contractor’s obligations as per the tender document or obligation(s) which is/are statutory in nature.
6 Whether the bidders can offer ‘zero’ in any of the fields of the Price Bid Para ‘3.20’ of the tender document may be referred to. Bidders offering ‘zero’ or irrational quotes shall be liable for disqualification. However, variation in bidder’s offer from that of the Bank’s estimate with respect to any of the fields of Part-II – Financial Bid (Price Bid) due to difference in methods of round-off or difference in method of estimation but adhering to the tender conditions, shall not be treated as an irrational quote.
7 Short description provided in the Financial Bid The description provided in the user interface of the Bank’s e-procurement portal, against the two price fields shall be considered as ‘short description’ due to character limit and symbol restriction. Part-II-Financial Bid of the tender document shall be referred before quoting for detailed information.
8 Other corrections Following corrections shall be noted by bidders before offering the quote:

  1. The words “colonies” appearing in para ‘4.29’ of the tender document shall be replaced with the word “premises” and read accordingly.

  2. The word “residential” appearing in para “4.19.5” of the tender document shall be deleted.

Regional Director for Kerala and Lakshadweep

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Top 5 Public & Private Sector Banks That Offer Up To 6.75% Returns On Tax Saving FDs

Personal Finance

[ad_1]

Read More/Less


Key takeaways of tax saving FDs

Depositors can reap the following benefits from tax-saving fixed deposits.

  • One can reap tax exemptions under section 80C of the Income Tax Act, 1961.
  • Tax deductions are subject to a maximum amount of Rs 1.50 Lakh per fiscal year.
  • Defined as per comfort, a variable tenure of 5 years to 10 years.
  • Subject to early withdrawal after a lock-in duration of 5 years.
  • Elderly people can get an additional interest rate up to 0.50 percent.
  • You can have a joint account facility; though, only the manager of the primary account is liable for tax benefits in case the account is opened jointly.
  • Insurance cover of Rs 5 Lakh against a fixed bank account in the case of failure by the lender.

Eligibility criteria

Eligibility criteria

The following conditions must be fulfilled in order to be considered for the opening of a tax saving fixed deposit account at any bank, non-banking financial institution or post office:

  • He or she must be a resident individual, or Hindu Undivided Families (HUF).
  • He or she must have all KYC documents
  • He or she must have duly filed the application form

Document required to open a tax saving FD

Document required to open a tax saving FD

For opening a tax-saving deposit in banks and post offices, identity and address proof is needed. The following documents are required to submit at the bank, NBFC, or post office while opening a tax saving FD account:

Identity proof: Passport, Aadhaar card, PAN card, government ID card, voter ID card

Address proof: Utility bills, bank statement of the last 6 months, passport, Aadhaar card

Income proof: Salary slip of the last 3 months, Form 16, recent IT return

Tax saving FD rates

Tax saving FD rates

Small private banks provide interest rates on tax-saving FDs of up to 6.75 percent. Compared to major public sector banks, these interest rates are higher on tax-saving FDs. DCB Bank and Yes Bank dominate the table with interest of 6.75 percent, led by IndusInd Bank promising interest of 6.50 percent on tax-saving FDs over five years. On tax-saving FDs, AU Small Finance Bank and Ujjivan Small Finance Bank bid 6.50 percent and 5.80 percent interest, respectively. Opposed to leading private banks, the interest rates provided by small finance banks are stronger.

On tax-saving FDs, foreign banks such as DBS Bank and Deutsche Bank bid 5.50 per cent interest. Leading private sector banks such as Axis Bank, ICICI Bank and HDFC Bank bid interest on tax-saving FDs of 5.50 percent, 5.35 percent and 5.30 percent, respectively. Union Bank of India, which provides 5.55 percent interest, is the highest rate provided by a public-sector bank on a 5-year tax-saving FD, led by Canara Bank and State Bank of India (SBI), which offer 5.50 percent and 5.40 percent interest respectively on tax savings FDs. On tax-saving FDs, Bank of Baroda is providing 5.25 percent interest as of now.

Private Sector Banks ROI in %
DCB Bank 6.75
Yes Bank 6.75
IndusInd Bank 6.5
RBL Bank 6.4
City Union Bank 6
Public Sector Banks ROI in %
Union Bank 5.55
Canara Bank 5.5
SBI 5.4
Bank of India 5.3
Pubjab National Bank 5.3

Note

Usually, small private banks with a minimal target market provide higher rates to lure customers. This is the reason why cheaper rates are provided by government-owned banks. Only because a bank is giving you higher return doesn’t always mean that you must consider it. Consider higher rates, but still go for comparatively larger banks with good finance and administration. Only tax-saving five-year FDs rates for non-senior citizens are listed on the above table.

GoodReturns.in



[ad_2]

CLICK HERE TO APPLY

Leave a comment
1 … 4 5 6 7 8 … 87