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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 January 2021 are set out in Statements I and II. Highlights of the sectoral deployment of bank credit are given below:
Ajit Prasad Press Release: 2020-2021/1168 |
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The Reserve Bank of India, Patna invites Tender for Sale of Briquettes of Shredded Currency Notes. The vendors intending to bid for the above tender may submit their bids to Issue Department, Reserve Bank of India, South Gandhi Maidan, Patna. The last date and time for submission of the Tender is March 19, 2021 up to 14:00 Hrs. The details of Notice Inviting Tender (NIT) are as follows:
Note: Any amendment / corrigendum to this application notice, if any, issued in future will be notified only on the RBI Website and the same will not be published in newspapers. General Manager-in-Charge |
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The Centre has appointed Matam Venkata Rao as Managing Director & CEO of Central Bank of India for a period of three years.
He is currently an Executive Director of Canara Bank.
Rao is expected to replace incumbent Central Bank of India MD & CEO Pallav Mahapatra, who will superannuate on February 28, sources said.
With this appointment, Canara Bank will only have two executive directors although the bank can have as many as four such directors. Currently, Canara Bank has three Executive Directors including Rao.
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Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:
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, March 03, 2021, during the below given timings:
Results will be announced on the day of the auction. Payment by successful bidders to be made on Thursday, March 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 Press Release: 2020-2021/1167 |
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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 Press Release: 2020-2021/1166 |
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Paytm Payments Bank Ltd (PPBL) has announced that it has facilitated refunds for 2.6 lakh FASTag users who were charged incorrectly by toll plazas in the year 2020.
It has set up a fast redressal mechanism, which identifies incorrect deductions and raises claims to reverse the extra charges.
While FASTags ensure automatic payment of toll charges, sometimes issues with systems and processes present at the toll plaza result in deduction of more than the applicable charges.
To expeditiously resolve all such customer complaints, PPBL has put in place a dispute management process that audits all customer complaints, associated toll transactions, and issues raised by the toll plazas.
Satish Gupta, MD and CEO – Paytm Payments Bank Ltd said in a statement: “It has been our endeavour to empower our users with seamless and hassle-free travel on road. In this quest, we support our users in every possible way, including fast redressal of any grievance they face with toll plazas. We strive to ensure that customers are always charged the correct toll amount and our teams remain vigilant against the unjustified charging at every step.
The innovations that we have made in technology and the deep trust in our bank has helped us become the leading issuer of FASTags in the country. We aim to expand our services across the length & breadth of the country and contribute towards building fully digital journeys on highways.”
Paytm Payments Bank is the top issuer and the largest acquiring bank under the National Electronic Toll Collection programme.
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The Pre-Bid meeting for the captioned work was conducted as per schedule on February 24, 2021- at 3.00 PM at Conference Room – III, 3rd floor, Reserve Bank of India, Chennai. The following staff members of RBI and firms/prospective tenderers were present during the pre-bid meeting:
The following queries were raised in the pre-bid meeting:
2. The same has been uploaded on MSTC e-commerce web portal. 3. Above amendments/clarifications are issued for the information for all intending bidders. Minutes of pre-bid meeting shall form the part of bid document/Agreement. Rest of the terms and conditions and specifications of the bid document shall continue to remain same. Hence, it shall be signed and submitted along with the tender by the tenderers. Submission of Bids shall be construed to be in conformity to the bid document and amendments/clarifications. The tenderers are advised to see corrigendum for necessary changes/modifications in the tender document. Chief General Manager (O-in-C) |
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Please refer to the captioned tender issued through MSTC e-commerce portal on February 17, 2021 (HRMD. No. RBI/Chennai/HRMD/54/20-21/ET/560) and notification published on the Bank’s website (https://www.rbi.org.in) on February 17, 2021 inviting applications from Empanelment of Car Hiring Agencies/Companies for RBI, Chennai. In this connection, the Pre-Bid meeting was held on February 24, 2021 at 3.00 PM at Conference Room – 03, 3rd floor, Reserve Bank of India, Chennai.
2. The same has been uploaded on MSTC e-commerce web portal. 3. Above amendments/clarifications are issued for the information for all intending bidders. The Corrigendum shall form the part of bid document/Agreement. Rest of the terms and conditions and specifications of the bid document shall continue to remain same. Hence, it shall be signed and submitted along with the tender by the tenderers. Submission of Bids shall be construed to be in conformity to the bid document and amendments/clarifications. Chief General Manager (O-in-C) |
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The Government Securities (G-Sec) market continued to be spooked by a host of factors, including oversupply of G-Secs, rising US Treasury yields and oil prices.
Yield on the widely-traded 10-year benchmark G-Sec (carrying a coupon rate of 5.85 per cent) rose about 5 basis points to about 6.2290 per cent, with its price declining about 33 paise to ₹97.25 over the previous close.
Yield on the earlier 10-year benchmark G-Sec (carrying a coupon rate of 5.77 per cent) jumped about 8 basis points to about 6.3162 per cent, with its price dropping about 54 paise to ₹96.16 over the previous close.
The discomfort of the market players with the yields manifested in the form of them seeking higher yields at the auction of two G-Secs.
So, the Reserve Bank of India devolved about 66 per cent of the notified amount of ₹4,000 crore in the case of the three-year G-Sec on primary dealers (PDs). It also devolved about 19 per cent of the notified amount of ₹11,000 crore in the case of the 15-year G-Sec.
In the case of the auction of two other G-Secs, the Government exercised greenshoe option on the 13-year floating rate bond, mopping up ₹5,450 crore against the notified amount of ₹4,000 crore, and accepted partial bids aggregating ₹2,503.522 crore against the notified amount of ₹5,000 crore for the 30-year G-Sec.
Marzban Irani, CIO-Fixed Income, LIC Mutual Fund, said: “We will be struggling with inflation as we go ahead because of increase in commodity prices. Additional liquidity infusion is leading to more inflation.
“…In the US also, yields are rising continuously. Across the world, central banks are saying “don’t worry, we will infuse liquidity, this and that”. But markets are not ready to believe. Markets are in correction mode only.”
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