February 2021 – Page 10

Banks coming together for new umbrella entity for retail payments

February 26, 2021 root Banking & Finance

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RBI deadline

The announcement comes just ahead of the RBI deadline for accepting applications for umbrella entity for retail payments by February 26, 2021.

Earlier, So Hum Bharat Digital Payments had announced that it is in talks with private sector lender YES Bank for a 9.99 per cent equity investment and will work together on the proposed new umbrella entity.

Other banks, including State Bank of India, are also understood to be evaluating and applying to the RBI under the guidelines.

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HDFC Bank to pick up 9.99% stake in Ferbine

February 26, 2021 root Banking & Finance

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A New Tale Of Growth For Affordable Housing?

February 26, 2021 root Personal Finance

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Investment

oi-Sunil Fernandes

|

Published: Friday, February 26, 2021, 8:53 [IST]

The Government has made it clear over the past few years that Housing for All is the priority area for charting out a course of economic development in the country. The intention was evident in the recent Budget announcements where the FM went on to boost the affordable housing sector with an extension in tax exemption and a tax holiday for another year. Both of these measures introduced in the Budget will directly impact the affordable segment, as the demand for such residential units continues to rise despite the economic slowdown caused by the lockdown.

While there are multiple reasons for this increase in demand, major ones remain the all-time low home loan interest rates, perception of real estate as an asset class strengthening among the end-users. In fact, in a recent report released by a property consultant, affordable housing already accounts for more than 35 percent of the supply across the top 7 cities in the country; amid the recent extensions and relaxations given to the segment, this becomes an opportune time for the affordable players to come and lead a new tale of growth. The buyer sentiment is welcoming for the experienced developers, as they have become increasingly cautious about their savings.

However, the segment of affordable housing is dominated by end-users, but a peak in investors’ interest is also observed, especially for the Tier II-III cities. Since the Government’s focus is also shifting from the metro to help smaller towns become the next growth hubs, the boost given to infrastructure in this Union Budget is a testimony that the real estate sector in Tier II-III cities is all set to evolve.

For the first time, an affordable home buyer will be able to avail of a cumulative deduction for home loan interest around Rs. 3.5 lakhs, comparing to the previously granted deduction of Rs.2 Lakh. More than 80 percent of the new launches have been in the Rs 45 lakh price bracket. Regulatory changes such as the introduction of RERA, GST, IBC, and relaxation in FDI have made the nature of transactions in this sector transparent. More radical improvements in the taxation system and regulatory policies are of utmost importance to bring back the sector’s lost momentum. Long standing demands like industry status to the sector, with a little bit of clarity on Input Tax Credit would have made the matters even better for the realty industry. As post unlock the affordable segment experienced an increase in the number of site visits, and these properties had some sales momentum due to the pent-up demand and realisation of people owning their home immediately. This positive sentiment is likely to remain stable during the year of 2021 as government continues to support the realtors with stressed asset funds, relaxations in policies, and a overall boost to the infrastructure sector.

-Mr. Raman Gupta, Director-Branding & Construction, GBP Group

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Reserve Bank of India – Tenders

February 25, 2021 root Tenders

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Reserve Bank of India, Jammu invites e-tender for ‘Annual Maintenance Contract (AMC) for horticulture maintenance work at Reserve Bank’s staff colony at sector 9, Trikuta Nagar and Bank’s premises, Jammu’. The e-tendering shall be done through the e-tendering portal of MSTC Ltd. (http://mstcecommerce.com/eprochome/rbi). All eligible and interested companies / agencies / firms must register themselves with MSTC Ltd. through the above-mentioned website to participate in the e-tendering process. The Schedule of e-tender is as follows:

Estimated cost of the work ₹16,50,360/- (Rupees Sixteen Lakh Fifty Thousand Three Hundred and Sixty Only)

Availability of Online application form from February 25, 2021

Last date and time for submission of duly filled /completed Application Online March 16, 2021 up to 03:00 p.m.

Date of opening of the Online applications March 16, 2021 (03:30 p.m. onwards)

Regional Director
Reserve Bank of India
Jammu

Date : February 25, 2021

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Reserve Bank of India – Tenders

February 25, 2021 root Tenders

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The Bank is convening second/ another pre-bid meeting with all the prospective Tenderers on March 08, 2021 at 1430 hrs (IST) to clarify the details of the requirements of selection as also any other points/ doubts for submission of RFP. Tenderers are requested to inform the details of persons who will be attending this meeting at the email: helpabpc@rbi.org.in two days before the date of meeting (i.e. on or before March 05, 2021). A maximum of two authorised representatives from an applicant will be allowed to attend the pre-bid meeting. Such authorization letters may be emailed to the Bank for record. The tenderer requiring any clarification or elucidation on any issue relating to the Tender Document may submit the same to the Bank by e-mail, latest by March 03, 2021.

2. In view of the above, the last date for submission of RFP is being extended to April 12, 2021. The Schedule for submission of the RFP under Notice Inviting Request for Proposal in the RFP has been revised and the modified provisions are as under:

Sr. Event Date as per RFP Existing Date
Revised Date

4 Last date and time for submission of completed RFP document in a sealed cover February 23, 2021 up to 1500 hrs (IST) March 09, 2021 up to 1500 hrs (IST)
April 12, 2021 up to 1500 hrs (IST)

5 Opening of RFP documents –
Envelopes containing General Information and Technical Bid February 23, 2021 at 1600 hrs (IST) March 09, 2021 up to 1600 hrs (IST)
April 12, 2021 at 1600 hrs (IST)

6 Venue for –

iii. Opening of RFP documents
To be advised Through Webex
Through Webex

3. The Important information related to the tender under Notice Inviting Request for Proposal in the RFP has been revised and the modified provisions are as under:

Existing Provision Revised Provision

Sr.No Title Particulars

x. The last date of submission of EMD online February 22, 2021 up to 1500 hrs (IST)

Sr.No Title Particulars

x. The last date of submission of EMD online April 09, 2021 up to 1500 hrs (IST)

4. It is clarified that all other terms and conditions of the RFP shall remain unchanged. This will also be part of the RFP document.

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Federal Bank launches digital platform for savings bank accounts

February 25, 2021 root Personal Finance

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Additionally, this platform offers all the features that would provide potential customers with a convenient, hassle-free and paperless banking experience from the comfort of homes.

Federal Bank has announced the launch of Federal 24 7, an end-to-end digital platform that will help in opening and managing savings bank accounts without having to visit the branch.

Federal 24 7 enables a complete, paperless and instant digital savings account opening sitting anywhere in India with just PAN and Aadhaar number. Through Federal 24 7, customers can experience state-of-the-art video KYC based account opening, the bank said.

Additionally, this platform offers all the features that would provide potential customers with a convenient, hassle-free and paperless banking experience from the comfort of homes. The bank will issue personalised ATM-cum-debit card to all the new account holders of instant saving bank accounts.

Shalini Warrier, executive director, chief operating officer and business head – retail, said: “…As the name suggests, this platform is designed to be always available to meet the needs of our customers.” “The launch is in line with the bank’s “Digital at the fore, human at the core” strategy of offering customers more convenience through digital processes and solutions and is based on the guidelines of the RBI’s video-KYC norms.”

Once the process is complete, the account holder will get his/her account activated instantly and can start transacting immediately.

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Annual Maintenance Service Contract for Security at Reserve Bank of India Bhubaneswar Main Office Premises and its Residential Colonies

February 25, 2021 root Tenders

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SCHEDULE OF TENDER (SOT)

Sr No. Item Description

1 E-tender No. RBI/Bhubneswar/HRMD/60/20-21/ET/609

2 Mode of Tender e-procurement system (Online Part I – Techno-Commercial bid and Part II – Price bid through www.mstcecommerce.com/eprochome/rbi)

3 Estimated Amount ₹1,60,00,000/-

4 Date of NIT available to parties to download 11:00 hrs of 26/02/2021

5 Pre-bid meeting Offiline at 15:00 hrs of 16/03/2021

6 Bid Open Date: Date of starting of e-tender for submission of online Techno-Commercial bid and Price bid at www.mstcecommerce.com/eprochome/rbi 11:00 hrs on 17/03/2021

7 Bid Closing Date: Date of closing of online e-tender for submission of Techno-Commercial bid and Price bid 14:00 hrs on 26/03/2021

8 Tender Open Date:
a) Date and time of opening of Part-I (i.e. Techno commercial bid)
b) Part-II Price bid:
Date of opening of Part-II i.e. Price bid shall be informed separately 15:00 hrs on 26/03/2021
After doing the checking of prequalification criteria and viewing documents uploaded by the vendors.

9 Tender Close Date: 15:00 hrs on 31.12.2021

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Reserve Bank of India – Tenders

February 25, 2021 root Tenders

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Minutes of Pre-Bid Meeting

Tender No.: RBI/DEHRADUN/DEHRADUN/3/20-21/ET/539

Existing Clause Amended Clause

Section-II (Important Instructions to e-tenderers)
Para 3.4: The tenderer must own a minimum fleet of 08 cars [including (Three) tech] comprising subcompact Sedan (Swift Dzire, Etios, Indigo or similar variants), Sedan (Honda City, Maruti Ciaz, Hyundai Verna or similar variants), MultiPurpose Vehicle (Innova Crysta or similar variants), Premium Sedan (Honda Civic, Toyota Corolla or similar variants). The vehicles taken on contractual basis by the tenderer shall also be considered for the above provided the number of such vehicles does not exceed 50 per cent i.e. four (4) of the total number of vehicles owned by the tenderer. The age of each vehicle in the fleet, as above, shall be less than 04 years. The list of such vehicles is to be furnished as per Annex-III. Section-II (Important Instructions to e-tenderers)
Para 3.4: The tenderer must own a minimum fleet of 08 cars [where a minimum of three vehicles should be either from Premium Sedan/ Sedan or Multi-purpose Vehicle] comprising subcompact Sedan (Swift Dzire, Etios, Indigo or similar variants), Sedan (Honda City, Maruti Ciaz, Hyundai Verna or similar variants), MultiPurpose Vehicle (Innova Crysta or similar variants), Premium Sedan (Honda Civic, Toyota Corolla or similar variants). The vehicles taken on contractual basis by the tenderer shall also be considered for the above provided the number of such vehicles does not exceed 50 per cent i.e. four (4) of the total number of vehicles owned by the tenderer. The age of each vehicle in the fleet, as above, shall be less than 04 years. The list of such vehicles is to be furnished as per Annex-III.

Section III (Evaluation/ Selection Criteria)
S. No. 1 (i)
If the Agency holds a minimum fleet of 08 cars (including three Innova Crysta, Honda City, Maruti Ciaz or similar variants) including vehicles taken on contract. Section III (Evaluation/ Selection Criteria)
S. No. 1 (i)
If the Agency holds a minimum fleet of 08 cars (where a minimum of three vehicles should be either from Premium Sedan/ Sedan or Multi-Purpose Vehicle) including vehicles taken on contract.

Section III (Evaluation/ Selection Criteria)
S. No. 1 (ii)
If the Agency holds fleet of 09 – 12 cars (including four Innova Crysta, Honda City, Maruti Ciaz or similar variants) including vehicles taken on contract. Section III (Evaluation/ Selection Criteria)
S. No. 1 (ii)
If the Agency holds fleet of 09 – 12 cars (where a minimum of four vehicles should be either from Premium Sedan/ Sedan or Multi-Purpose Vehicle) including vehicles taken on contract.

Section III (Evaluation/ Selection Criteria)
S. No. 1 (iii)
If the Agency holds a fleet of more than 12 cars (including five Innova Crysta, Honda City, Maruti Ciaz or similar variants) including vehicles taken on contract. Section III (Evaluation/ Selection Criteria)
S. No. 1 (iii)
If the Agency holds a fleet of more than 12 cars (where a minimum of five vehicles should be either from Premium Sedan/ Sedan or Multi-Purpose Vehicle) including vehicles taken on contract.

Note: This document shall be part of the tender and shall be binding on the prospective tenderers. Hence this document shall be signed and submitted/uploaded on the MSTC portal along with the e-tender by the tenderers.

Regional Director
Reserve Bank of India
Dehradun

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Reserve Bank of India – Tenders

February 25, 2021 root Tenders

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Corrigendum dated February 25, 2021

Tender No.: RBI/DEHRADUN/DEHRADUN/3/20-21/ET/539

The captioned e-tender was uploaded on the Bank’s website and MSTC portal on February 17, 2021. The Pre-Bid meeting for the same was held in the premises of RBI Dehradun on February 25, 2021 at 1500 hrs. Representative of a firm attended the Pre-Bid Meeting. The following staff members of RBI and representative of firm/prospective tenderer were present during the pre-bid meeting: –

S. No. Name of RBI Officers

1. Smt. Soumya Sivasankaran, AGM (HRMD)

2. Shri Suman Jha, Manager (HRMD)

3. Shri Vaibhav Sharma, Assistant Manager (HRMD)

4. Shri Tushar Gupta, Assistant Manager (HRMD)

Firms/Prospective tenderers

S. No Name of the firm/ company Name of the representative

1. Walia Travels Shri Satnam Singh

Following queries were raised by the representative of Walia Travels: –

S. No. Query Clarification given

1. In terms of para 3.5 of Section II, the tenderer must have all applicable tax registrations viz. PAN, TIN, GSTIN and other applicable Statutory registrations. Prospective tenderer informed that TIN is not applicable for taxi hiring business. It was clarified that the tenderer must have all tax and other statutory registrations which are applicable for taxi hiring business.

2. Prospective tenderer enquired on the minimum no. of taxis/cars required for being eligible in the tendering process. It was clarified that the tenderer must own a minimum fleet of 08 cars (where a minimum of three vehicles should be either from Premium Sedan/ Sedan or Multi-Purpose Vehicle). The vehicles taken on contractual basis should not exceed 50 per cent i.e. four (4) of the total number of vehicles owned by the tenderer. At least 4 cars should be in the name of the tenderer.

Regional Director
Reserve Bank of India
Dehradun

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Govt to earn more from deposits by opening business to pvt banks

February 25, 2021 root Banking & Finance

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There is already a bidding system in place, but it has so far been restricted to PSBs.

The government is set to earn more from its deposits as it enters into business with a larger set of private banks that can offer higher interest rates, industry experts said. At the same time, public sector banks (PSBs) may be forced to shell out more than they historically have for government deposits.

Mrutyunjay Mahapatra, former MD & CEO, Syndicate Bank, said that the cost of deposits for the banking system as a whole is likely to rise because the private sector banks will now compete for government deposits. There is already a bidding system in place, but it has so far been restricted to PSBs.

“Public sector banks used to get away with a slightly lower rate because they have a larger savings account and rural fund base, whereas the private banks are very hungry for deposits. So, they might create an enhanced interest rate regime to garner these funds because there has to be transparency for government funds,” Mahapatra said, adding that the government will benefit from the process.

He also pointed out that there may have been an understanding between the government and private banks that in exchange for the embargo being lifted, private banks will have to participate in social sector activities like PSBs. The participation of private banks in financial inclusion projects, rural banking and agri lending would help ensure a level playing field between the two sets of banks.

There could also be other teething pains for private banks entering government business, analysts said. A report by Kotak Institutional Equities (KIE) said that PSBs will try to defend their turf. Further, adding a bank to the government payment system is likely to be time-consuming and would require continuous interaction with the government. “Fee income streams have a higher probability of declining in the event of higher competition.

However, it remains to be seen if the float income would offset any pressure that is likely to come on account of lower fee margins,” analysts at KIE said. They expect government deposits to be an important funding source when liquidity is tight or rates are high.

A Nomura report on Thursday said that while the top three private banks have been undertaking government agency business for the last 20 years, Axis Bank and ICICI Bank have managed to step ahead of HDFC Bank in obtaining authorisation for undertaking pension payments for the defence sector.

“Railways’ pension is a potential area which is still lying with SOE (state-owned) banks. Incidentally, in tax collections, HDFC Bank almost had a 15% market share as of FY19/20,” the report said.

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