Reserve Bank of India – Tenders

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E-Tender No: RBI/Ahmedabad/HRMD/38/20-21/ET/451

The Pre-bid meeting for the captioned tender was held on February 03, 2021 from 12:30 hours to 13:30 hours at Main Office Building, RBI Ahmedabad. The meeting was chaired by Major Lalit K Baghel, Assistant General Manager (Protocol & Security). Officials from Protocol & Security Cell – HRMD and representatives of various prospective bidders participated in the meeting.

Major Lalit K Baghel, Assistant General Manager (Protocol & Security) welcomed all participants (List attached – Annexure I) and discussed the agenda points (as per Table 1). Thereafter queries were invited from the prospective bidders regarding the captioned tender. The queries raised by the prospective bidders during the meeting along with the Bank’s clarifications and comments are mentioned in Table 2.

Table 1: Agenda Points
Sr.No Agenda Points Clarification/Comments
1 All firms to strictly ensure that the EMD is deposited within the time frame of the Tender. Bank will not be liable for any delays in submission and no requests for extension with regard to time shall be granted for the issue. No queries raised
2 The scanned copies of all supporting documents required to be uploaded on the MSTC portal by the bidders must be legible and clear. No queries raised
3 Only the supporting documents as mentioned in the tender conditions needs to be uploaded/ submitted. Uploading of extra/additional document will not be appreciated and the same will not be taken into consideration/ no weightage will be given for the same. No queries raised
4 A checklist/ index of all documents being uploaded / submitted to be provided by the firm and the documents should be as per the sequence mentioned in that checklist. No queries raised
5 Any queries by the firms. As per Table 2

Table 2: Queries by the firms.
Sr.No Queries Clarification/ Comments and Corrections
1 Whether any relaxation for EMD eligible for MSME / NSIC certificate holders? Para “F” of table in Schedule of Tenders of the tender document may be referred to. Eligible registered MSMEs participating in the tender process are exempted from payment of Earnest Money Deposit, on submission of valid documents.

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

“MSEs” appearing in the Tender Documents shall be replaced with “MSMEs” and be read accordingly.

2 Is submission of experience certificate/work order/ Work completion certificate required to be uploaded by the bidder? Please refer to para 3 (d) on eligibility criteria in tender document.
3 How many holidays are to be taken in to account towards calculation of wages? Republic Day (January 26), Independence Day (August 15) and Gandhi Jayanti (October 2) are the three national holidays that are to be considered.

For working on these days wages will be paid as per ‘Industrial Establishments (National and Festivals) Holdings Act, 1974.

4 Is it mandatory to have an office in Ahmedabad? No, However firms having their Registered / Head Office in Ahmedabad will be given weightage as per the Tender document.
5 Is attending the pre-bid meeting prerequisite for applying for the tender? The pre-bid meeting was not mandatory and those prospective bidders that did not attend the pre-bid meeting are also free to submit their bids. Pre-bid meeting is held to clarify the queries of the prospective bidders and is not mandatory/a condition for participation in the Tender.
6 Performance Bank Guarantee is 3% or 5%? PBG has been reduced to 3% from existing 5-10% vide GOI MOF letter dated 12 Nov 2020.

The Para may be read accordingly.

7 Additional clauses are added by the issuing Banks in the Format of Bank Guarantee. Will the same be accepted as valid by the RBI, Ahmedabad? The successful bidders may send the format/clauses incorporated by the issuing bank to securityahmedabad@rbi.org.in if needed for confirmation in this regard.
8 Is there any minimum value laid down/ decided by the Bank for the Service Charge to be quoted by the firms while bidding? Bidders must keep in mind that while quoting Service Charges they should include all expenditure on providing managerial/ supervisory/ administrative services by all means to get the work done through Fire Safety Services Staff deployed.
Bidders offering “zero” or irrational quotes shall be liable for disqualifications. Further, in case of abnormally low bids, the Bank may seek written clarifications from the Bidder, including detailed price analysis of its Bid price in relation to scope, schedule, resource mobilization, allocation of risks and responsibilities, and any other requirements of the bid document.

Major Lalit K Baghel, Assistant General Manager (Protocol & Security) thanked all participants for attending the meeting. The Meeting ended at 13:30 hours.

It was reiterated to the participants that the documentary proof being submitted by the agency, may be subjected to verification by the Bank. In an event of fraudulent disclosure, the concerned agency will be disqualified. In addition, any agency blacklisted by any RBI office/s also stands to be disqualified.

  • It was further stated as below:
  1. These minutes of pre-bid meeting shall form the part of bid document/Agreement

  2. Rest of the terms and conditions and specifications of the bid document shall continue to remain same

  3. The above clarification is issued for the information of all the intending bidders.

  4. The submission of bid by the firm shall be construed to be in conformity to the bid document and clarification given above.


Annexure I

Details of Participants: Pre-bid meeting held on February 03, 2021

The following Bank’s Officials and representative of prospective bidder were present during the pre-bid meeting:

Sr No. Name and Designation of RBI Officials
1 Major Lalit Kant Baghel, AGM (Protocol & Security)
2 Major Richa Khare, AM (Protocol & Security)
3 Gaurang P Vasava, Assistant

Prospective Bidders present during the pre-bid meeting:

Sr No Prospective Bidder firm Representative Name
1 M/s Sterling & Wilson Mr. Dashank Naik
2 M/s Ravi Firetech Safety Engineers Pvt Ltd Mr. K Arjun
3 M/s Indra Security and Allied Service Pvt Ltd Mr. Vinod Brahmbhatt

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Reserve Bank of India – Tenders

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Reserve Bank of India, Chennai invites E-Tender for Supply, Installation, Testing and Commissioning of full height single lane turnstile for main office building, Reserve Bank of India, Chennai.

E-tender No. RBI/Chennai/Estate/355/20-21/ET/521
Name of work Supply, Installation, Testing and Commissioning of full height single lane turnstile for main office building, Reserve Bank of India, Chennai.
Mode of Tender e-Procurement System (Online Part I – Techno-Commercial Bid and Part II – Price Bid through www.mstcecommerce.com/eprochome/rbi)
Guidelines for e-tender has been provided as Annexure – I.
Date of NIT available to parties to download 17:00 Hrs of February 08, 2021
Earnest Money Deposit Rs.13,252/- from each bidder
Date of starting of e-Tender for submission of on line Techno-Commercial Bid and price Bid at (www.mstcecommerce.com/eprochome/rbi) 17:00 Hrs. on February 08, 2021
Date of closing of online e-tender for submission of Techno-Commercial Bid & Price Bid. 15:00 Hrs on March 01, 2021
Date & time of opening of Tender Part I (Techno-Commercial Bid) of the tender shall be opened at 16:00 Hrs on March 01, 2021. Part II (Price Bid) shall be opened on a later date which shall be intimated to the bidders.
Transaction Fee Payment of Transaction Fee as mentioned in the MSTC portal through MSTC payment gateway / NEFT / RTGS in favour of MSTC Limited.

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Reserve Bank of India – Tenders

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1. Tenders by e-tendering process are invited from Vendors at its Bhubaneswar Office for the “Annual Maintenance Contract for 3 residential colonies of Reserve Bank of India at Bhubaneswar, Odisha i.e. Officers’ Quarters at Nayapalli (OQNP), Staff Quarters at Baramunda (BMSQ) and Staff Quarters at Vidyut Marg (VMSQ) at Bhubaneswar, Odisha”. The tender will be applicable for initial period of one year w.e.f. April 01, 2021 to March 31, 2022. However, the contract can be extended for further period of two years (one year at a time) subject to satisfactory performance of the successful bidder and adherence to contractual obligations by the service provider. 1.(a) Interested tenderers may like to go through the entire tender document before taking part in the tendering process. The tenderers may obtain for themselves on their own responsibility and at their own expenses all the information which may be necessary for the purpose of making tender and for entering into a contract and acquaint themselves with all local conditions, means of access to the work, nature of the work and all matters pertaining thereto. 2. All pre-Qualification documents shall be uploaded with Techno-commercial bid (Part-I) on MSTC portal. Those who do not upload the Pre-qualification documents would not be considered for this tender process. Further, the Vendor should submit the original of the documents to the Bank when demanded to qualify for further tendering process. 2.(a) Registration Certificate – Shram Suvidha portal The tenderers are required to upload the copies of EPF/ESIC registration Certificates issued on Shram Suvidha Portal. 2.(b) Proof of submission of EPF/ESIC The tenderers are required to upload at least 2 months of ECR and Combined Challan for EPF and Challan for ESIC to the Bank along with their tender. 3. Interested tenderers have to upload applicable documents satisfying all the points as stated above along with techno-commercial (Part-I) bid of tender. The same Eligibility documents should be uploaded with Techno Commercial Bid (Part-I) on the MSTC portal. 4. Tenders form will be available for downloading w.e.f February 08, 2021 from 06:00 pm. A pre-bid meeting will be held on February 19, 2021 at 3:00 pm. in the Human Resource Management Department, RBI Bhubaneswar. Tender form can be downloaded for viewing from RBI website www.rbi.org.in or www.mstcecommerce.com/eprochome/rbi. The applicable pre-Qualification papers should be uploaded with Techno Commercial Bid (Part-I) on the MSTC portal. 5. Interested Vendors/firms can participate in e–Tender after getting registration with www.Mstcecommerce.com/eprocurement/rbi). Online Part I – Techno-Commercial Bid and Part II – Price Bid shall be opened through www.mstcecommerce.com/eprocurement/rbi and applicable transaction charges have to be paid by the firm. 6. Tender in prescribed format shall be uploaded on MSTC website. Part-I of tender will contain the Bank’s standard technical and commercial conditions for the proposed work and tenderers’ covering letter.

The EMD of Rs.1,24,000/- (Rupees One Lakh and twenty-four thousand only) should be submitted by every bidder through NEFT transfer to A/C No-186004001, Reserve Bank of India, IFSC Code-RBIS0BBPA01, Branch Name – Bhubaneswar 7. The schedule of the tender is as follows: Activity Tentative date i. e -Tender no. RBI/Bhubaneswar/Bhubaneswar/15/20-21/ET/522 ii. Mode of Tender e- Procurement System
(Online Part I – Techno-Commercial Bid and Part II – Price Bid through www.mstcecommerce.com/eprochome/rbi) iii. Estimated Cost Rs.62,00,000/- (Inclusive of GST) iv. Date of NIT (along with complete tender) available to parties to download- Tender activation on portal-Tender ‘Live’ for all February 08, 2021 at 06:00 pm onwards v. Date and time for start of Off-line Pre-bid meeting February 19, 2021 at 3:00 pm. vi. Security-Deposit/Bank Guarantee Only the successful bidder will be required to provide security deposit of Rs.3,10,000/- (Rupees Three Lakh and Ten Thousand only) in the form of Performance Bank Guarantee for the duration of the Contract. The Performance Bank Guarantee has to be furnished within 14 days of commencement of work. Failure to submit this guarantee or failure on the part of Vendor to perform its contractual obligations shall be treated as a violation and can lead to cancellation of the Contract and the EMD of Rs.1,24,000/- (Rupees One Lakh and Twenty-Four Thousand only) submitted by it shall be forfeited vii. Earnest Money Deposit Every Bidder has to remit Rs.1,24,000/- (Rupees One Lakh and twenty-four Thousand only) as EMD to Reserve Bank of India account up to 12:00 PM on March 05, 2021. The account details for NEFT transactions are as under:
Beneficiary name: – Reserve Bank of India
IFSC code: RBIS0BBPA01
Account No.: 186004001 Proof of remittance indicating transaction number and other details shall be uploaded on Bank’s approved e-tender portal along with other tender documents.

EMD of the successful bidder shall be returned on receipt of Performance Security-Deposit/Bank Guarantee from the successful bidder after signing the Agreement. EMD of the unsuccessful bidder will be returned within 30 days of the award of the Contract. EMD shall be forfeited if the bidder withdraws his bid during the Tender Evaluation Process.

viii. Tender Fees Nil ix. Transaction Fee
Please note that the Vendors will have the access to online e-tender only after payment of transaction fees online. Payment of Transaction fee through MSTC Gateway/NEFT/RTGS in favor of MSTC Limited, as advised by M/s MSTC Ltd. x. Start Bid date – Date of Starting of e-Tender for submission of online Techno- Commercial Bid and Price Bid at www.mstcecommerce.com/eprochome/rbi February 20, 2021 at 06:00 pm xi. Close Bid date – Date of closing of online e–tender for submission of Techno- Commercial Bid and Price Bid March 05, 2021 at 12:00 pm xii. Part I Bid opening date March 05, 2021 at 03:00 pm xiii. Part II Bid opening date Shall be informed separately to parties 8. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part of any tender. The Bank also reserves the right to reject all the tenders without assigning any reason thereof.

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Reserve Bank of India – Tenders

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Reserve Bank of India, Chennai invites e-Tenders for the work – “Comprehensive Annual Maintenance Contract (CAMC) for providing Housekeeping Services at Bank’s Main Office Premises (including Annex Building and Essential Staff Quarters) for the year 2021-22”. The tendering process will be done only through the e-Tendering portal of MSTC Ltd (http://mstcecommerce.com/eprochome/rbi). All interested bidders shall, register themselves with MSTC Ltd, through the above-mentioned website to participate in the tendering process.

The schedule of e-Tender is as follows:

e-Tender No. RBI/Chennai/Estate/354/20-21/ET/520
Description of Work Comprehensive Annual Maintenance Contract (CAMC) for providing Housekeeping services at Bank’s Main Office Premises (including Annex Building and Essential Staff Quarters) for the year 2021-22
Mode of Tender e-Tender (Online Part I – Techno-Commercial Bid and Part II – Price Bid) through https://www.mstcecommerce.com/eprochome/rbi
Estimated Cost for 12 months ₹ 114 Lakh (Rupees One Hundred and Fourteen Lakh only)
Earnest Money Deposit(EMD) ₹ 2,28,000/- (Rupees Two Lakh Twenty-Eight Thousand only)
Performance Bank Guarantee 5% of the contract value (to be provided in the form of Bank Guarantee by the successful Agency)
Liquidated Damages subject to a maximum of 10% of contract value
Date of NIT (Notice Inviting Tender) available to parties for download 16:00 Hrs. of February 08, 2021 onwards.
Pre-Bid Meeting Offline at 11:00 Hrs. on February 23, 2021 (Venue: Reserve Bank of India, Estate Department, 2nd Floor, Rajaji Salai, Fort Glacis, Chennai 600001).
Last Date of submission of EMD 14:00 Hrs. of March 02, 2021
Date of Starting of e-Tender for submission of on line Techno-Commercial Bid and price Bid 16:00 Hrs. on, February 24, 2021
Date of closing of online e-tender for submission of techno-commercial bid & price bid 15:00 Hrs. on March 02, 2021
Date of opening of Part-I (techno-commercial bid) 16:00 Hrs. on March 02, 2021
Date of opening of Part-II (price bid) If no special conditions are put forth by the bidders, Part II (Price Bid) of the tender shall also be opened thereafter on the same day or else Part II (Price Bid) shall be opened on a subsequent date which shall be intimated to the bidders.
Transaction fee Payment of Transaction fee as mentioned in the MSTC portal through MSTC payment gateway/NEFT/RTGS in favour of MSTC LIMITED.

The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The Bank also reserves the right to reject all the tenders without assigning any reason thereof.

The Regional Director
Reserve Bank of India
Chennai

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G-Sec yields soften on RBI’s ₹20,000-cr OMO plan

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Yields on the 10-year benchmark Government Securities (G-Sec) softened about 4 basis points on Monday after the Reserve Bank of India (RBI) announced that it will purchase four G-Secs aggregating ₹20,000 crore, a move aimed at keeping G-Sec yields in check.

However, the OMO effect is likely to be shortlived as the government suddenly announced in the evening that it will be raising up to ₹26,000 crore (notified amount: ₹22,000 crore plus additional subscription option: ₹4,000 crore) by selling two G-Secs (re-issue) via a special auction on Thursday.

This special auction comes ahead of the scheduled auction on Friday to raise ₹26,000 crore via four securities. In this auction, the government reserves the right to exercise a greenshoe option to retain additional subscription up to ₹2,000 crore each against one or more securities.

Special auction

So, while the RBI announced that it will conduct OMO purchases on Wednesday to ensure yields thaw ahead of the scheduled auction on Friday, the government’s sudden move to raise resources via a special auction on Thursday may have thrown a spanner in works of the central bank’s plan to give comfort to the market on yields.

Yields had risen to touch 6.1634 per cent in intraday trading in the G-Sec market last Tuesday on concerns over the fiscal deficit and the government’s borrowing programme. When G-Sec yields in the secondary market go up, the government has to pay higher coupon rate to raise fresh resources. The OMO purchase announcement to tamp down yields needs to be seen in this context.

Following the OMO purchase announcement, the yield on the benchmark 10-year G-Sec, carrying a coupon rate of 5.77 per cent, softened to close at 6.0870 per cent against 6.1283 per cent on Friday.

The price of this security went up 29 paise to close at ₹97.74. Bond yields and prices are inversely related and move in opposite directions.

Marzban Irani, CIO-Fixed Income, LIC Mutual Fund, said: “OMO of ₹20,000 crore was the reason G-Sec yields declined today. After two G-Secs devolved on primary dealers at last Friday’s auction, yields would have inched upwards.

“The huge borrowing number is putting pressure on bond yields. However, the OMO announcement has capped yields. Additional borrowing on Thursday and the scheduled borrowing on Friday will put pressure on yields.” Irani said the RBI will have to keep coming up with OMOs else the yields will start inching upwards.

Crisil has cautioned that the demand for G-Secs by banks could be affected. Referring to the economic recovery gaining momentum, the credit rating agency said this implies a pick-up in credit growth.

Banks will now have more options than the government to lend to, which could put some pressure on G-Sec yields, said Dharmakirti Joshi, Chief Economist; Dipti Deshpande, Senior Economist; and Pankhuri Tandon, Economist, in the report.

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Reserve Bank of India – Tenders

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Reserve Bank of India, Chennai invites e-Tenders for the work – “Comprehensive Annual Maintenance Contract (CAMC) for providing Housekeeping services to Bank’s 03 Residential Colonies Located at Anna Nagar, Besant Nagar and C.H Road for the year 2021-22”. The tendering process will be done only through the e-Tendering portal of MSTC Ltd (http://mstcecommerce.com/eprochome/rbi). All interested bidders shall, register themselves with MSTC Ltd, through the above-mentioned website to participate in the tendering process.

The schedule of e-Tender is as follows:

e-Tender No. RBI/Chennai/Estate/349/20-21/ET/514
Description of Work Comprehensive Annual Maintenance Contract (CAMC) for providing Housekeeping services to Bank’s 03 Residential Colonies Located at Anna Nagar, Besant Nagar and C.H Road for the year 2021-22
Mode of Tender e-Tender
(Online Part I – Techno-Commercial Bid and Part II – Price Bid) through https://www.mstcecommerce.com/eprochome/rbi
Estimated Cost for 12 months ₹ 97 Lakh (Rupees Ninety-Seven Lakh only)
Earnest Money Deposit(EMD) ₹ 1,94,000/- (Rupees One Lakh Ninety-Four Thousand only)
Performance Bank Guarantee 5% of the contract value (to be provided in the form of Bank Guarantee by the successful Agency)
Liquidated damages subject to a maximum of 10% of contract value
Date of NIT (Notice Inviting Tender) available to parties for download 16:00 Hrs. of February 8, 2021 onwards.
Pre-Bid Meeting Offline at 11:00 Hrs. on February 23, 2021 (Venue: Reserve Bank of India, Estate Department, 2nd Floor, Rajaji Salai, Fort Glacis, Chennai 600001).
Last Date of submission of EMD 14:00 Hrs. of March 02, 2021.
Date of Starting of e-Tender for submission of on line Techno-Commercial Bid and price Bid 16:00 Hrs. on, February 24, 2021
Date of closing of online e-tender for submission of techno-commercial bid & price bid 15:00 Hrs. on March 02, 2021.
Date of opening of Part-I (techno-commercial bid) 16:00 Hrs. on March 02, 2021.
Date of opening of Part-II (price bid) If no special conditions are put forth by the bidders, Part II (Price Bid) of the tender shall also be opened thereafter on the same day or else Part II (Price Bid) shall be opened on a subsequent date which shall be intimated to the bidders.
Transaction fee Payment of Transaction fee as mentioned in the MSTC portal through MSTC payment gateway/NEFT/RTGS in favour of MSTC LIMITED.

The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The Bank also reserves the right to reject all the tenders without assigning any reason thereof.

The Regional Director
Reserve Bank of India
Chennai

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BoM ties up with LoanTap Credit for co-lending to MSMEs, BFSI News, ET BFSI

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State-owned Bank of Maharashtra on Monday said it has entered into a co-lending agreement with the Pune-based non-banking financial company LoanTap Credit Products, for MSME loans. Under the co-lending model, the bank will have an exposure of up to 80 per cent while the rest will be borne by the LoanTap, the bank said in a release.

“Co-lending is the system introduced by RBI in the wake of the liquidity crisis at non-banking finance companies to enhance the credit flow to the unserved and underserved sector and make available funds to the ultimate beneficiary at an affordable cost,” the bank’s managing director and CEO A S Rajeev said.

In September 2018, RBI had come out with a co-origination model between banks and NBFCs for providing credit to the priority sector. Last year in November, RBI rechristened the scheme as Co-Lending Model (CLM), and revised the terms to provide greater operational flexibility to the lending institutions.

BoM’s executive director Hemant Tamta said the co-lending model shall help the bank to meet the priority sector lending target. It will be beneficial for all NBFCs having wider outreach and customers, who will be facilitated with low cost credit from banks.

The co-lending model provides ease of loan sanctions at borrower’s convenience through digital lending platforms, which cover end-to-end loan processing cycle without manual intervention, from on-boarding of customers to loan disbursement and monitoring.



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‘65% increase in complaints received under three Ombudsman Schemes in 2019-20’

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There was an increase of nearly 65 per cent in the receipt of complaints under the three Ombudsman Schemes of the Reserve Bank of India in 2019-20, and a disposal rate of over 92 per cent was achieved.

In 2019-20, a total of 3,30,543 complaints were received under the three schemes, registering a growth of 64.97 per cent, compared to 2,00,362 complaints in 2018-19, according to the Annual Report on the RBI Ombudsman Scheme.

Complaints under the Banking Ombudsman Scheme increased by 57.54 per cent year-on-year with a total of 3.08 lakh complaints with those relating to ATM and debit cards and mobile and electronic banking being the major grounds of complaints in 2019-20.

“Complaints related to ATM/ Debit Cards and Mobile/ Electronic banking overtook those pertaining to non-observance of Fair Practices Code (FPC) as the major grounds of complaints during the year,” said the report for the period July 1, 2019 to June 30, 2020.

Their share in the total complaints received in 2019-20 was 21.97 per cent and 13.38 per cent, respectively, while the share of complaints relating to non-observance of FPC stood at 11.73 per cent, it said. The figures against these grounds during the previous year were 18.65 per cent, 7.55 per cent and 19.17 per cent, respectively.

Complaints received on grounds relating to credit cards, failure to meet commitments, levy of charges without notice, loans and advances and non-adherence to the Banking Codes and Standards Board of India (BCSBI) Codes increased this year compared to the previous year, the report said.

Meanwhile, the receipt of complaints at the Ombudsman Scheme for Non-Banking Financial Companies gained momentum with 19,432 complaints received during 2019-20 compared to 3,991 in 2018-19, an increase of 386.89 per cent, the report said.

Non-adherence to FPC constituted 36.29 per cent of the complaints received, followed by non-observance of RBI directions (18.56 per cent), lack of transparency in contract/loan agreement (8.77 per cent) and levy of charges without notice (8.38 per cent).

The Ombudsman Scheme for Digital Transactions received 2,481 complaints in 2019-20 against 470 in the five months of operation during 2018-19, the report said.

Non-adherence to RBI and System Provider instructions on payment transactions through Unified Payment Interface (UPI), Bharat Bill Payment System (BBPS), Bharat Quick Response (QR) Code with 43.89 per cent of complaints, was the major ground of complaints.

The RBI said that as announced in the Monetary Policy Statement on February 5, the three Ombudsman Schemes are being merged and integrated into a single scheme, which will be rolled out starting from June 2021. “The capabilities of the CMS will be enhanced for more efficient grievance redress,” it further said, adding that a framework for consumer education will be put in place to meet the needs arising from increased digitalisation in the banking space.

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Union Bank of India to rationalise 950 branches soon

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Union Bank of India plansto rationalise about 950 of its branches soon. “As per the consultant’s report, the bank has targeted to rationalise about 950 branches in the first year of amalgamation of Corporation Bank and Andhra Bank with itself,” a senior Union Bank official told BusinessLine.

Corporation Bank and Andhra Bank were amalgamated with Union Bank with effect from April 1, 2020. The government, in August 2019, had announced the merger of 10 public sector lenders into four bigger and stronger banks.

“The real benefits of amalgamation will only be derived if rationalisation of branches happens,” the official added.

The close proximity of branches of erstwhile Andhra Bank, Corporation Bank and Union Bank, besides optimisation of operational costs and the need to avoid business overlap are among the factors that are driving rationalisation plan.

Union Bank now has over 9500 domestic branches and 13,300 ATMs with 75,000 employees.

Meanwhile, the bank is struggling with delay in integration of Andhra Bank’s operations, even 10 months after the amalgamation.

In many branches, customers are not being allowed to deposit cheques for clearance. “In the last 10 days I went two times to deposit a ₹60,000-cheque in my account and it was not accepted citing integration problems,” M Karunakar, a customer of Andhra Bank, told BusinessLine.

Similarly, erstwhile Andhra Bank’s ATMs are non-functional in many locations, which is forcing customers to withdraw from the ATMs of other banksby paying additional charges.

At some branches, notices have also been displayed stating that there was disruption due to the integration of operations.

“It is true that there has been a disruption. But we are working round-the-clock and, as of now, 65 per cent of erstwhile Andhra Bank’s ATMs are functional,” said the Union Bank official.

The clearing of cheques will also reach normacly in about a week to 10 days, he added.

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Reserve Bank of India – Press Releases

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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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