Month: January 2021

Reserve Bank of India – Press Releases

Press Releases

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Reserve Bank of India vide directive DCBS.CO.BSD-I/D-6/12.22.311/2018-19 dated January 04, 2019 had placed the Youth Development Cooperative Bank Limited, Kolhapur, Maharashtra under Directions from the close of business on January 05, 2019 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to January 05, 2021.

It is hereby notified for the information of the public that, Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till April 05, 2021 as per the directive DOR.CO.AID No.D-49/12.22.311/2020-21 dated January 04, 2021, subject to review.

All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated January 04, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of public.

The aforesaid extension and /or modification by Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/888

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HDFC to raise up to ₹5,000 cr via NCDs

Banking & Finance

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Housing Development Finance Corporation Ltd (HDFC) plans to raise up to ₹5,000 crore via private placement of secured redeemable non-convertible debentures (NCDs) of 10-year tenor at a coupon rate of 6.83 per cent.

The issue size is of ₹2,000 crore, with an option to retain oversubscription of ₹3,000 crore, said HDFC in a regulatory filing.

“The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/ refinancing the housing finance business requirements of the Corporation,” the filing said.

The bid opening and closing date of the NCD issue is January 7, 2021. The pay-in date and deemed date of allotment is January 8, 2021. The NCDs carry an issue price of ₹10 lakh each and will be listed on the BSE and NSE.

An investor will have to subscribe to a minimum of 10 debentures and in multiple of one debenture thereafter.

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Rules of Financial Planning – Goodreturns

Personal Finance

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50/20/30 Rule

Here in the 50/20/30 rule, the investor should spend 50 per cent of his/her income to cover all the expenses be it house rent, utilities, household, groceries and so on.

The 20 per cent of the income should straightly go towards savings account without any compromise. As saving for the future is a must to be financially secure. An investor can opt for any type of savings be it for a short term, medium-term or long-term investment.

The remaining 30 per cent of the income of the investor can be spent on travel, food and so on. Here the idea of spreading the monthly income into three portions is done to create better control of the outflow of money.

Please Note: As one grows older, it is better to save more and the portion of funds which goes towards savings should be increased gradually.

How Much of Funds Should be Saved?

How Much of Funds Should be Saved?

This is the most common yet a very important question which most of the people who have just started their career will have in their mind. Generally, the income of an individual will increase drastically over the period.

For beginners, it is better to set aside at least 10 per cent of their earnings after taxable income as savings. As the number of years rolls out, increase the savings amount and try to set aside at least 15 per cent of the income.

As you grow older, so your financial expenses and liabilities grow hence it is necessary to save enough to achieve the desired goals.

If an investor is middle-aged, then raise the savings bar level to 35 per cent of the income after paying off income tax. Because the financial expenses during this phase of life will shoot up.

Pay for Self

Pay for Self

The first rule of personal finance states, first pay for yourself. One should set aside some funds from their income as savings before spending the earned money. It is always Income – Savings = Expenses and not the other way round.

First chalk out a financial goal after taking into consideration many factors like income, expenses, inflation rates and other things and figure out how much you will have to save for them.

In the next step, ensure that every month sufficient funds from your salary will be directed towards your financial goals. Try to manage your monthly household expenses with the remaining amount left with you, in this way an investor will be able to pay for self first.

Emergency Corpus

Emergency Corpus

It is mandatory to set aside funds meant for emergency purpose, as this comes in handy to meet the unexpected events which come knocking your door without alerting. If in case, if a family member faces any medical issue or there is a loss of job and so on, the emergency corpus built by the investor will come in handy.

The earlier one starts to build the emergency corpus, the better it will be to meet the unforeseen circumstances. These funds provide cushion to the individual as well as his/her family to combat the situation.

There is no hard and fast rule as to how much an emergency fund should be built. But it is ideal, to set aside three to six months of monthly income as an emergency corpus, to tide over the uncertain situation.

Retirement Funds

Retirement Funds

The retirement funds are also known as pension funds. It offers a regular source of income to the individual’s post-retirement. Here, the investor will receive annuity on their investment until their demise.

It is not easy to arrive at the exact figure as to how much to save for building a retirement corpus. But it is better to shore up anywhere between 20 – 30 times of your annual income towards building the retirement corpus, after considering inflation rate.

Planning to save early for retirement is the key to success as it will give an investor ample time to build his/her retirement funds. This financial rule will work for those whose retirement is many years away than the ones who are set to retire soon.

GoodReturns.in



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HDFC Bank registers double-digit growth in deposits and advances in Q3

Banking & Finance

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Private sector lender HDFC Bank reported double-digit growth in deposits and advances in the third quarter of the fiscal year.

In a regulatory filing on Tuesday, HDFC Bank said its advances grew by 16 per cent to ₹10.82-lakh crore as on December 31, 2020, compared to ₹9.36-lakh crore a year ago. This was a growth of around 4 per cent when compared to ₹10.38-lakh crore as of September 30, 2020.

Meanwhile, the bank’s deposits grew by 19 per cent in the third quarter of the fiscal to ₹12.71-lakh crore compared to ₹10.67-lakh crore as of December 31, 2019, and a growth of around 3 per cent compared to ₹12.29 lakh crore as of September 30, 2020.

The bank’s CASA ratio stood at around 43 per cent as of December 31, 2020, compared to 39.5 per cent as of December 31, 2019, and 41.6 per cent as of September 30, 2020.

“During the quarter ended December 31, 2020, the bank purchased loans aggregating ₹7,076 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited,” it further said.

On Tuesday, the bank’s scrip closed 0.71 per cent higher at ₹1,426.20 apiece on the BSE.

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Lakshmi Vilas Bank, YES Bank lead NPA pile-up among private banks in Karnataka

Banking & Finance

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In Karnataka non-performing assets (NPA) of all banks combined stood at ₹57,070.02 crore from a total of 28 lakh accounts.

“Agriculture topped the list of sectors with high NPAs at ₹17,772.87 crore (from 12.20 lakh accounts) and is followed by non-priority sector at ₹17,096.27 crore (7.73 lakh accounts), other priority sector is ₹11,470.07 crore (4.20 lakh accounts), MSME ₹8,887.42 crore (3.35 lakh), housing ₹1,332.88 crore (25,042) and education ₹510.51 crore (24,892),” a senior officer at Karnataka SLBC said.

As on September 30, 2020, NPAs in private banks category – Lakshmi Vilas Bank (the bank since November 2020 has been merged with DBS Bank India Ltd (DBIL), the subsidiary of DBS Bank, Singapore) stood out with NPAs to the tune of ₹2,979.10 crore from 15,190 accounts, while YES Bank’s NPA stood at ₹4,675.23 crore from 946 accounts.

Among the lead banks category – Canara Bank’s total NPA stood at ₹12,531.66 crore (with 3.41 lakh accounts), State Bank of India ₹11,663.58 crore (7.37 lakh accounts). Under nationalised banks – Punjab National Bank with ₹4,121.52 crore (12,735 accounts) and Bank of India is ₹1,069.85 crore (19,477 accounts).

“SLBC has requested the Karnataka government to provide guidance and assistance for the recovery of bad loans,” the officer said.

On the recovery front, banks in the state have recovered a total of ₹460.87 crore so far under Sarfaesi, DRT and Lok Adalats Acts. Of the recoveries under Sarfaesi was ₹114.25 crore, DRT ₹335.19 crore and Lok Adalat ₹11.43 crore.

Education loan

Banks in the State up to September quarter have disbursed education loans to the tune of ₹650 crore covering 30,102 students, as against the annual financial target of ₹7,725 crore under both priority and non-priority segments.

According to the officer “The performance of banks in lending under education loans as the percentage of achievement v/s target is 8.41 percent. This poor loan disbursal is mainly due to the education sector getting affected due Covid-19 pandemic.”

“At the SLBC meet in December 2020, member banks were told to sanction more under education loans to the eligible students to achieve the target,” he added.

Due to record rains and flooding in the State, banks were asked to restructure loans in natural calamity affected districts. Due to unprecedented rains and flooding in August – 23 districts and 130 taluks were affected. In September – 16 districts and 43 taluks got affected and in October – 5 districts and 7 taluks got affected.

After the revenue department submitted crop-wise loss data for September quarter, about 230 accounts amounting to ₹5.15 crore were re-structured.

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Reserve Bank of India – Annual Report

Publications

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April 14, 2015





Dear All




Welcome to the refurbished site of the Reserve Bank of India.





The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.





With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.




The site can be accessed through most browsers and devices; it also meets accessibility standards.



Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.



Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.



Thank you for your continued support.




Department of Communication

Reserve Bank of India


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HDFC sees ‘robust’ growth in individual loan disbursements

Banking & Finance

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Housing Development Finance Corporation Ltd (HDFC) reported a 26 per cent increase in individual loan disbursements.

“The individual loan business continued to see improvements during the quarter ended December 31, 2020. Disbursement growth over the corresponding quarter of the previous year was 26 per cent,” said HDFC in a regulatory filing on provisional numbers for the third quarter of the fiscal.

For the nine months ended December 31, 2020, individual loan disbursements stood at 86 per cent of the levels in the corresponding period of the previous year, it further said.

“During the quarter ended December 31, 2020…the Corporation assigned loans to HDFC Bank amounting to ₹7,076 crore, compared to ₹4,258 crore in the corresponding quarter of the previous year,” it further said.

Gross income from dividend for the quarter ended December 31, 2020, was ₹2 crore, compared to ₹4 crore in the corresponding period last fiscal.

During the quarter ended December 31, 2020, the profit on sale of investments was ₹157 crore, HDFC further said.

“This was on account of the sale of 25,48,750 equity shares of HDFC Life Insurance. The Corporation’s shareholding in HDFC Life now stands at 49.99 per cent. This has met the RBI’s mandate of reducing the Corporation’s shareholding in HDFC Life to 50 per cent or below by December 16, 2020,” it said, adding that for the purpose of consolidated financial results under IndAS, however, HDFC Life shall continue to be accounted as a subsidiary.

On Tuesday, HDFC’s scrip closed at a gain of 2.78 per cent at ₹2,651.15 apiece on the BSE.

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Private banks in Karnataka lead in NPAs

Banking & Finance

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The non-performing assets (NPAs) of all banks, in Karnataka,from 28 lakh accounts was ₹57,070.02 crore as on September 30, 2020.

“Among the sectors with high NPAs was agriculture at ₹17,772.87 crore (from 12.20 lakh accounts), other priority sector advances was ₹11,470.07 crore (4.20 lakh accounts) and non-priority sector advances was ₹17,096.27 crore (7.73 lakh accounts),” a senior official at Karnataka State Level Bankers’ Committee (SLBC) said.

Among the private banks, NPAs in Lakshmi Vilas Bank was ₹2,979.10 crore from 15,190 accounts, while those from Yes Bank was₹4,675.23 crore from 946 accounts.

Among the lead banks category, Canara Bank’s total NPAs stood at ₹12,531.66 crore (with 3.41 lakh accounts), State Bank of India at ₹11,663.58 crore (7.37 lakh accounts). Punjab National Bank with ₹4,121.52 crore (12,735 accounts) and Bank of India ₹1,069.85 crore (19,477 accounts).

“SLBC has requested the Karnataka government to provide guidance and assistance for the recovery of bad loans,” the official said.

On the recovery front, banks in the State have recovered ₹460.87 crore so far under Sarfaesi, DRT and Lok Adalats Acts. The recoveries under Sarfaesi were ₹114.25 crore, Debts Recovery Tribunals (DRT) at ₹335.19 crore and Lok Adalat at ₹11.43 crore.

Poor loan disbursal

On September quarter, the banks have disbursed education loans of ₹650 crore, covering 30,102 students, as against the annual financial target of ₹7,725 crore under both priority and non-priority segments.

According to the official, “The performance of banks in lending under education loans, as the percentage of achievement v/s target, was 8.41 per cent. This poor loan disbursal was mainly due to the education sector getting affected due to the Covid-19 pandemic.”

“During the SLBC meet in December 2020, member banks were told to sanction more education loans to eligible students to achieve the target,” he added.

Due to record rains and flooding in the State, banks were asked to restructure loans in natural calamity-affected districts. After the revenue department submitted crop-wise loss data for September quarter, about 230 accounts amounting to ₹5.15 crore were re-structured.

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Ayushman Bharat crosses 1.5-cr mark in hospital admissions as non-Covid-19 treatments resume

Banking & Finance

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With Covid cases on the decline and people resuming treatments for other ailments, Ayushman Bharat, the flagship health insurance scheme of the Centre, has crossed the landmark of 1.5 crore in total hospital admissions.

 

The surge in the number of persons availing the scheme is clearly visible in the last three months, with an addition of about 24 lakh hospital admissions.

As on January 4, 2021, the total hospital admissions under Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB -PMJAY) stood at 1,50,66,436, as per the latest data. This involved a spend of about ₹17,000 crore. As on September 21, 2020, 1.26 crore hospital admissions were registered.

“In the main Covid-19 months, the number of hospital admissions was somewhat slower due to the halt of other non-emergency treatments by many hospitals.

“But now with the recent decline in new cases of the pandemic, people are going for treatment of other ailments as well,” a senior official told Business Line on Monday.

The scheme was launched on September 23, 2018, in Ranchi. It now has 24,180 empanelled hospitals with over 13 crore e-cards issued. It covers about 1,500 procedures, including Covid-19. Under the scheme, the Centre provides a cover of up to ₹5 lakh per family per year for secondary and tertiary care hospitalisation to about 60 crore beneficiaries.

Covid treatment

As per provisional numbers, about 40,000 have been treated for Covid-19 so far under the scheme, besides over 4 lakh tests performed.

In times of Covid, the scheme was used by migrant workers in large numbers, especially after the introduction of portability (allowing people to avail the cashless treatment facility in any State, irrespective of their nativity), with an aim to provide access to health care during the lockdown period last year.

The National Health Authority (NHA), which is the implementing agency for the scheme, also launched a campaign ‘Swasthya ki Chaanv, Shehar ho ya Gaanv’ to reach out migrant and educate and empower them to make use of free healthcare services under the scheme.

Going forward, Ayushman Bharat is expected to gain more traction as Telangana (that had refused to join the scheme two years ago) requested the Centre last week to extend the scheme to the State. Only Odisha and West Bengal are now out of the purview of the scheme.

The budget allocation for the implementation of AB-PMJAY has been increasing every year. While it was at ₹2,400 crore in 2018-19, it went up to ₹6,400 crore in 2020-21.

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Exim Bank raises $1 b via 10-year bond issue

Banking & Finance

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Export-Import Bank of India (India Exim Bank) on Tuesday said it has raised $1 billion via a 10-year bond issuance.

The coupon of 2.25 per cent is a record low for any 10-year bond issuance out of India and the issue was oversubscribed by more than 3.5 times, the financial institution said in a statement.

The funds will be used by the bank to support Indian project exports, overseas investment by way of long-term credit and its export lines of credit portfolio, it added.

David Rasquinha, Managing Director of India Exim Bank, said, “With the upsurge in GST numbers, improvement in GDP, and the recent approval of vaccines, the confidence in the India story is surging once again.

“With a strong market opening trade from India Exim Bank, many other Indian issuers are likely to follow suit to access the foreign currency bond market.”

Harsha Bangari, Deputy Managing Director, observed that India Exim Bank’s bond issuance is the only 10-year transaction by an Indian financial institution in the last one year.

The quasi-sovereign nature of the bank and the Emerging Market Bond Index Global (EMBIG) index eligibility of the bonds helped in the price tightening from the initial price guidance of CT10 (10-year US Treasury Bonds) + 185 basis points (bps) to the final CT10+145 bps, she added. One basis point is equal to one-hundredth of a percentage point.

In terms of geographic distribution, the bonds were distributed 55 per cent in Asia, 29 per cent in the US and 16 per cent in the EMEA (Europe, Middle East, Africa) region, India Exim Bank said.

In terms of distribution, the bonds were distributed to fund managers (around 68 per cent), sovereign wealth funds, central banks and insurance companies (17 per cent), banks (14 per cent) and private banks and others (1 per cent), it added.

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