Month: March 2021

Top 5 Banks Providing The Lowest Interest Rates On Gold Loans

Personal Finance

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Procedure to apply for a gold loan

The process for obtaining a gold loan differs from one lender to the next. The essence of a gold loan is straightforward: you pledge your gold items and receive the loan amount in return. To do so, take the gold you want to pledge and the relevant documents to a lending institution. The lender measures the purity of the gold and calculates its weight before determining its valuation. Gold loans of up to 80% of the calculated value of the pledged gold will be authorised. The documents are checked after the worth of the pledged gold is determined. Your lender will accept your loan once everything appears to be in order and satisfying. You can apply for a gold loan via a bank’s or NBFC’s mobile application or official website. You must contact your lender at least once to deposit your gold articles in order to take advantage of the online gold loan. After that, you must register and link your bank account to the lender’s online portal or mobile application. So, in the potential, if you need funds quickly, you will apply for a gold loan and get the available credit disbursed in your bank account in a matter of minutes, no matter where you are.

Key benefits of a gold loan

Key benefits of a gold loan

Below are some key advantages of a gold loan you need to consider while applying for a gold loan:

  • Since gold loans are secured loans, they have fewer eligibility requirements and require less paperwork. It doesn’t even request for a credit score to approve a loan. As a result, lenders usually disburse loans within a few hours.
  • Usually, gold loans can be availed up to two years, after which the loan can be renewed.
  • Gold loans, which are secured loans, have a lower interest rate than unsecured loans such as personal loans. You must keep gold articles as collateral for a gold loan. Banks will lend you up to 80% of the worth of your gold. The interest rate will be higher if the loan-to-value ratio is higher.
  • You have adjustable repayment options for a gold loan. In the case of a gold loan, partial repayment is also possible.
  • The approval of a gold loan is not dependent on your credit score. The loan amount is determined in the case of other loans based on the borrower’s repayment potential and credit history, whereas in the case of a gold loan, the loan amount is determined based on the current market price of gold.
  • Due to the fact that gold loans are secured by gold, lenders rarely ask for proof of income. As a result, anybody, whether or not they are employed, can apply for a gold loan.
  • On gold loans, several banks and NBFCs charge no processing fees. And if a lender charges processing fees, they are usually 1 percent of the loan amount.
  • Some lenders do not impose prepayment penalties, while others charge a 1% penalty.

    • Taxation on gold loan

    Taxation on gold loan

    Literally, millions of individuals around the country have been affected financially as a result of the latest pandemic. The effect has been much more severe in India. Already many individuals are yet to recover a solid financial foothold, despite the fact that the central and state governments are gradually easing the lockdown and enabling economic operations to resume. Under the terms of the Income Tax Act of 1961, you can receive tax benefits on loans such as a home loan. For a gold loan, though, this is not the same. If you have major home repairing costs or need to make upgrades depending on changing needs, you might be able to get tax incentives on your loan against gold. You can take out a loan on your gold assets to cover these costs, and thereby benefit from tax advantages on gold loans. You can use a gold loan to get tax benefits on assets other than property investment. When you sell those assets, though, the said advantage comes in during the fiscal year.If the total amount of gifts or gold earned within the year reaches Rs 50,000, the gold or a gold asset will be taxed at the time of receipt under the heading “Income from other sources.” If you sell gold assets that were given to you or that you received, you must pay capital gains tax. Because the cost of purchase in the case of gifted or inherited gold is zero, you will have to pay capital gains tax on the entire sale amount of gold assets.

    Gold Loan Interest Rates

    Gold Loan Interest Rates

    Below are the top 5 banks that are currently providing the cheapest interest rates on gold loans:

    Banks ROI in %
    Punjab & Sind Bank 7.00
    Bank of India 7.35
    SBI 7.50
    Canara Bank 7.65
    Union Bank 8.20



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Bitcoin jumps above $50,000 in recovery from latest rout

Banking & Finance

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Bitcoin held gains above $50,000 in Asia trading on Thursday, putting the largest cryptocurrency back on track after steep losses last week with bullish momentum returning once again on more mainstream interest.

The digital token rose as much as 1.7 per cent and was trading at about $50,976 as of 11:14 am in Hong Kong on Thursday, according to data compiled by Bloomberg. The coin had surged as much as 11 per cent during the US trading Wednesday.

The cryptocurrency has been volatile with prices plunging 21 per cent last week before recovering with the earlier broad bounce back in global equities. On a technical basis, the GTI Global Strength Indicator, which detects trend fluctuations, has begun to curl upward, suggesting a bullish move for Bitcoin. The coin is up 13 per cent this week.

“With the return of the stimulus fueling activities in the US and elsewhere – this is very good for scarce assets such as Bitcoin,” said Antoni Trenchev, managing partner and co-founder of Nexo in London, a crypto lender.

Meanwhile, more big-name investors are backing crypto. Bloomberg reported late Tuesday that billionaire hedge-fund manager Marc Lasry and former US Commodity Futures Trading Commission Chairman Christopher Giancarlo have invested in crypto-asset and blockchain investment firm BlockTower Capital.

Bitcoin and other cryptocurrencies are also driving growing interest from mainstream investors in Canada, as the introduction of Bitcoin exchange-traded funds helped drive $5.2 billion in inflows in February, the second-highest month of such flows on record.

“Bitcoin is now, for the most part, steadily getting constant endorsements,” said Ed Moya, senior market analyst for OANDA. “You’re still in the early stages of this institutional interest and that’s why I think you’re probably going to have people become a lot more open minded to cryptos.”

The investments underscore a growing trend of institutional money flowing into the digital space, which is simultaneously gaining attention from regulators as the nascent industry seeks to carve out a place in mainstream finance. The outlook for the cryptocurrency industry is still under fierce debate. Proponents point to growing institutional adoption while critics say Bitcoin is a giant bubble destined to burst like its 2017 boom and bust cycle.

Regulators

On Tuesday, Gary Gensler, nominee for chairman of the US Securities and Exchange Commission, said that making sure crypto markets are free of fraud and manipulation is a challenge for the agency.

Gensler, who served as a CFTC chairman during the Obama administration, has been viewed as a strong advocate for digital assets. He serves as a senior adviser to the MIT Media Lab Digital Currency Initiative and teaches about blockchain technology and digital currencies.

“While the Bitcoin market reacted quickly to his comments, Gensler was largely positive about Bitcoin and cryptocurrencies,” said John Wu, president of blockchain technology firm Ava Labs. “I’m hopeful the new administration will help foster innovation in blockchains, cryptocurrencies and digital assets, instead of stifling it.”

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Reserve Bank of India – Press Releases

Press Releases

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(Amount in ₹ crore, Rate in Per cent)
  Volume
(One Leg)		 Weighted
Average Rate 		Range
A. Overnight Segment (I+II+III+IV) 4,33,445.16 3.12 0.01-3.50
     I. Call Money 7,555.73 3.19 1.90-3.50
     II. Triparty Repo 3,06,387.90 3.13 2.61-3.36
     III. Market Repo 1,19,501.53 3.07 0.01-3.32
     IV. Repo in Corporate Bond 0.00   –
B. Term Segment      
     I. Notice Money** 151.75 3.10 2.50-3.40
     II. Term Money@@ 594.50 – 3.25-3.55
     III. Triparty Repo 100.00 3.15 3.15-3.15
     IV. Market Repo 45.00 2.90 2.90-2.90
     V. Repo in Corporate Bond 0.00 – –
  Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate
C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)
I. Today’s Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Wed, 03/03/2021 1 Thu, 04/03/2021 5,56,574.00 3.35
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo – – – – –
3. MSF Wed, 03/03/2021 1 Thu, 04/03/2021 11.00 4.25
4. Long-Term Repo Operations –   –   –
5. Targeted Long Term Repo Operations – – – – –
6. Targeted Long Term Repo Operations 2.0 – – – – –
7. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -5,56,563.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 26/02/2021 14 Fri, 12/03/2021 2,00,010.00 3.50
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF          
4. Long-Term Repo Operations# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15
  Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15
  Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15
  Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15
5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40
  Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40
  Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40
  Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40
6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40
D. Standing Liquidity Facility (SLF) Availed from RBI$       32,842.06  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -90,085.94  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -6,46,648.94  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 03/03/2021 4,40,111.97  
     (ii) Average daily cash reserve requirement for the fortnight ending 12/03/2021 4,49,720.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 03/03/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 12/02/2021 8,49,099.00  
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
– Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.
# As per the Press Release No. 2020-2021/287 dated September 04, 2020.
^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
Ajit Prasad
Director   
Press Release : 2020-2021/1189

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Tips to invest in ready to move in property

Personal Finance

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Investment

oi-Sunil Fernandes

|

One of the first options to make if you are looking to buy a home is whether to go for a ready to move in property or a flat in under construction properties in India. The option will primarily rely on the condition and level of your finances and needs. Both property types have their own perks and drawbacks. The chance of a ready to move property in India is almost zero and before you buy it, you can cross check any truth and fiction, fitting and faucet. Here are some aspects of your finances and lifestyle that can help you make a choice between being ready to move in and building property:

Check your financial preparedness

Do you have a major savings chunk and are you all set to make an investment? If yes is the answer, go for a ready-to-move property in India. On the other hand, if you have found a good location and a good house, but you may need a couple of years to work on your finances to become ‘real estate ready’ in India, go for under construction properties. To make the down payment, secure a loan and take a few years to save, you can stress yourself financially a little bit. By then, the property will be ready and the EMIs will begin.

Assess your urgency

If you live in a rented apartment and are searching for a property to purchase, a ready-to-move home could serve the purpose and help you save on rents, although it could cost you a little more. As witnessed by many home buyers caught up in project delays, waiting for under construction properties in India while paying rent is frustrating.

Tips to invest in ready to move in property

Check location & property

If your investment is in an area that is all set to grow, while the ongoing project in India is being built, it would be wiser to go for it. As the property is being developed, services, accessibility, shops, schools and other facilities can catch up, making it an easy ride for you when you move in later. If you move into the property before the area is fully built, with any small purchase and bad access roads, you will have to live through the tough stage where travel is needed. In the meantime, property prices could pick up, raising the investment’s capital value.

Check tax implication

In compliance with Section 24 and Section 80C of the Income Tax Act, when you buy a ready-to-move house, the principal of Rs 1.5 lakh charged is deducted from revenue. The interest paid is also entitled to a deduction of up to Rs. 2 lakh. But if you purchase a property under construction, you can only assert tax deductions until the property is turned over to you, in five instalments over the next five financial years.

The Author Dhiraj Bora is Head Marketing & Corporate Communication, Paramount Group



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HDFC cuts RPLR by 5 bps, home loans now at 6.75%

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HDFC said its adjustable rate home loans (ARHL) are benchmarked to the RPLR and the revised rates will come into effect from March 4.

The spree of mortgage rate cuts continues with Housing Development Finance Corporation (HDFC) on Wednesday reducing its retail prime lending rate (RPLR) by five basis points (bps) to 6.75%, irrespective of the loan amount. The move follows similar rate cuts on home loans by State Bank of India (SBI) to 6.7% and Kotak Mahindra Bank to 6.65%.

HDFC said its adjustable rate home loans (ARHL) are benchmarked to the RPLR and the revised rates will come into effect from March 4. “The change will benefit all existing HDFC retail home loan customers,” the mortgage lender said in a statement. Prior to the rate reduction, HDFC was charging between 6.8 and 7.3% for home loans.

In the absence of loan demand in other segments, banks have taken to lowering their home loan rates. On Monday, SBI lowered home loan rates by 10 bps to 6.7%, a concession that would be available till March 31, subject to the loan amount and Cibil score of the borrower. KMB cut its home loan rate to 6.65%, taking it below that of market leader SBI. ICICI Bank home loans start at 6.8%, while the home loan rates for both Axis Bank and LIC Housing Finance begin at 6.9%.

Even as housing loan growth shrank to 7.7% year-on-year (y-o-y) as on January 29 from 17.5% a year ago, it remains one of the faster-growing credit segments and exceeds the rate of overall non-food credit growth in the banking system.

In a report on Wednesday, Care Ratings said during the last few months, housing loan growth was healthy amid a retail credit push, concessions on home loan interest rates and low stamp duties till December 2020 in Maharashtra. “In January 2021, the housing loan growth moderated to 7.7% partly due to the end of festive season offers and increase in stamp duty from January 1, 2021 in Maharashtra,” the report said, adding that housing loans continue to remain the single-largest segment with a 52% share of lending in banks’ outstanding retail portfolios.

In the meantime, housing finance companies (HFCs) and other non-bank lenders in the segment have been losing market share to banks as their lending rates have not dropped as steadily as that of their banking peers.

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Digital banking: Tapping the power of cloud to empower financial institutions

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Rajashekara Maiya, vice-president, global head – Business Consulting, Infosys Finacle

By Srinath Srinivasan

The dependence on digital financial services during the Covid-19 pandemic has led the BFSI segment to accelerate the digital transformation process. In the coming days, more enterprises, small, medium and large, are expected to come into the ambit of digital financial services forcing financial institutions and fintech companies to prepare for the inevitable demand explosion.

“Leveraging advanced technologies such as deep analytics and machine learning will empower banks with a more sound understanding of customers and their preferences,” says Rajashekara Maiya, vice-president, global head – Business Consulting, Infosys Finacle. “Learning from the past interactions with the end-user and their actions, banks can build adaptive solutions and drive contextual engagements.” Finacle is a core banking product developed by Infosys that provides universal digital banking functionality to banks.

Today Maiya and his team focus on helping banks build new business designs to bridge the divide between the digital and physical worlds and embed banking into their business processes seamlessly. This includes comprehensive digitisation of businesses through the full stack modernisation of digital engines, engagement and experiences systems, powering digital-only banks, supporting a bank-in-a-bank strategy where incumbent players are setting up distinct digital entities, helping fintechs offer banking services (for example, PayTM), helping non-financial institutions (such as India Post) to offer banking products, aiding multiple telcos who are launching banking services, and even an insurance company.

In order to provide digital transformation, Finacle has invested in cloud native offerings, co-innovating with seven clients to create a pilot blockchain based network to process trade finance transactions, expanding coverage for RESTful APIs to enable ease of collaboration with customers, partners and fintechs, co-innovating with large and fintech partners, embedding advanced analytics and AI in its solution suite, and leveraging Robotic Process Automation and cognitive automation.

The cloud native digital solution suite helps traditional (ING, DBS, Emirates NBD) and emerging financial institutions (Marcus by Goldman Sachs, Digi bank by DBS, Paytm) address digital engagement, omnichannel banking, origination, digital product development (core banking, payments, cash management, wealth management), analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. According to Maiya, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.

Finacle is also doubling down on the current opportunities to implement blockchain. “Banking industry is expected to account for 30% of total blockchain spending through 2023, if not beyond,” says Maiya. Finacle has launched several deep domain solutions in partnership with banks including Remittances, Payments, KYC, Trade Finance, Digital identity management. “More than 17 banks are part of our network and actively piloting the solutions we provide. The key differentiator for our solutions is that these are built in a ledger agnostic manner and can work on any major blockchain technology, for example, Corda, Ethereum, Bitcoin or Hyperledger,” he says.

Are bank employees ready for these new technologies? “Banks will do well in setting up multidisciplinary programmes to maintain their talent pipeline,” says Maiya. “They will need to map competencies across functions to identify skill gaps and bridge those employing a combination of tools, technological enablers, and on-demand contextual learning platforms.” He predicts business process synergies between the workforce and machines will gain momentum.

With new technologies comes the ability of institutions to handle cybersecurity. “Mission-critical infrastructure tests, remote defense capabilities, centralised user administration, transaction authorisations, best practices for remote and secure working, AI, and other technology augmented fraud management techniques will be some of the key trends banks will prioritise,” says Maiya.

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Reserve Bank of India – Tenders

Tenders

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Minutes of Pre-Bid meeting

NIT-RBI/Chandigarh/Estate/356/20-21/ET/524

Please refer to the tender notice for the captioned tender published on the Bank’s website www.rbi.org.in on February 15, 2021 inviting applications from eligible firms/vendors for the captioned work through e-tender route on MSTC website (https://www.mstcecommerce.com/eprochome/rbi/).

Now, the Bank has decided to modify some of the conditions in the Tender as given below:

  1. Please read para “Acoustic enclosure” mentioned at Page No. 51 under Section VII of Tender Document as “Acoustic enclosure shall be powder coated and fabricated out of minimum 1.6 mm thickness MS sheet instead of 1.4 mm thickness MS sheet”.

  2. The length of MS exhaust pipe with insulation in BOQ may be considered as 8 metre and diameter shall be as per manufacturer standard. The civil foundation of the DG Set shall be provided by the Bank. The size shall be indicated by the successful bidder.

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Reserve Bank of India – Tenders

Tenders

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Corrigendum

With reference to captioned tender (e-Tender no. RBI/Chandigarh/Estate/356/20-21/ET/524), a pre-bid meeting was held at RBI Chandigarh from 11:30 AM to 01:00 PM dated March 02, 2021. The meeting was attended by the representatives of the firm Sudhir Power Limited. The queries raised by the firms via email and direct are addressed below.

Queries received by emails from following firms:

1. Krishna Engineering Works, New Delhi

2. G.D Anklesaria & Co. Mumbai

The Bank’s clarifications for queries raised by these firms are as follow.

Queries by firm Krishna Engineering Works
Sr. No. Queries Bank’s clarification
1. Time Period: 2 Months is on lesser side and should be amended to 2 — 4 months as DG.Set delivery itself takes 2 months. Please follow the Tender Conditions on Time allowed for completion of work.
2. Authorization from OEM: This clause should be deleted so that tenderer/Contractor’s are free to supply any of the approved makes. The OEM’s obligation letter can be given after finalization of order. Please follow the Tender Terms and Conditions. No deviation is allowed.
3. Testing: The D.G. Set should be tested at the Engine Manufacturer premises only before dispatch. The DG Set may be tested at the factory Premises of the Manufacturer, where testing facilities are available as per detail mentioned in the Tender.
4. Payment Terms: 35% payment should be made after Erection, Testing, Commissioning & Handing over without statutory approvals as approvals take substantial time and withheld of 35% payment will increase the interest cost ultimately resulting higher quote/cost to RBI. Please follow the Tender Terms and Conditions on payment terms. No deviation is allowed.
5. Acoustic enclosure: M.S. Sheet thickness should be as per respective Manufacturer’s standards duly approved by CPCB Nodal agency instead of I .4mm. Please read para “Acoustic enclosure” mentioned at Page No. 51 under Section VII of Tender Document as “Acoustic enclosure shall be powder coated and fabricated out of minimum 1.6 mm thickness MS sheet instead of 1.4 mm thickness MS sheet”.
6. Exhaust System: The Length of Exhaust Pipe, Support Structure and Civil Foundation for support structure are not clear. It should be in Per Metre for Exhaust Pipe, Per kg for Support Structure and Per Cubic Metre for Civil Work. The length of MS exhaust pipe with insulation in BOQ may be considered as 8 metre and diameter shall be as per manufacturer standard.

The civil foundation of the DG Set shall be provided by the Bank. The size shall be indicated by the successful bidder.

Queries by: G . D Anklesaria
Sr. No. Queries Bank’s clarification
1. In the above Tender the Buyback of OLD 250 KVA DG Set is in ACOUSTIC ENCLOSURE? If Yes, please let us know the MAKE and Year of Installation. Existing 250 KVA DG Set is Greeves make and Year of installation is 2006.
2. Old Earth Stations and Strips will be available to use or new Earthings are to be used. Existing earth pits shall be used, however in case of any issues on existing earth pits, its rectification and laying of new earth strip shall be in the scope of the Bank.
3. We are an MSME registered unit and are exempted from paying EMD.We are Authorised Suppliers with RBI Mumbai and do PAN-India supplies and do not pay EMD. Exemption on deposit of EMD is not available to any kind of firm for this Tender.

Queries by firm – Sudhir Power Limited
Sr. No. Queries Bank’s clarification
1. No any queries received  

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YES Bank gets shareholders’ nod to raise Rs 10,000 crore

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The bank had taken approval of the board on January 22 for raising the capital.

Shareholders of Yes Bank have approved a proposal for raising Rs 10,000-crore capital with the requisite majority. The lender has said in a regulatory filing that 98.78% votes were cast in favour of the resolution to raise capital. Yes Bank intends to raise the funds through various modes, including a qualified institutional placement (QIP) and foreign currency convertible bonds (FCCBs).

Yes Bank said a stronger capital base would further strengthen the bank’s ability to deal with unanticipated contingencies or market disruptions which may arise due to the pandemic. The bank had taken approval of the board on January 22 for raising the capital.

Yes Bank MD and CEO Prashant Kumar had earlier said the board’s approval to raise Rs 10,000 crore was an enabling provision for raising funds as and when required.

In its notice for the postal ballot on the capital-raising plan, the bank said it wants to further strengthen the common equity tier 1 (CET 1) ratio and ensure that it has enough capital to support growth and maintain adequate buffers to deal with any unforeseen impact. Yes Bank’s CET1 ratio stood at 13.1% at the end of December 2020.

The capital adequacy ratio of the lender improved 1,110 basis points (bps) to 19.6% during the December quarter, compared to 8.5% before its reconstruction in March 2020. Yes Bank was revived in March, 2020 with the help of State Bank of India and other lenders according to a reconstruction plan of the Reserve Bank of India. Within four months of its reconstruction, Yes Bank had successfully raised Rs 15,000 crore through a further public offer in July 2020.

In November 2020, rating agency Care had revised Yes Bank’s infrastructure bonds rating to ‘CARE BBB’ from previous ‘CARE B’. In its rationale note, Care Ratings said the revision in the ratings assigned to the debt instruments factors in the improvement in the credit profile of the bank after implementation of the reconstruction scheme.

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Corrigendum – Request for Proposal (RFP) for RBI Website & Mobile App – Redesign and Development

Tenders

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E-tender No. – RBI/Central Office/DOC/7/20-21/ET/337

Please refer to the RFP notice for the captioned RFP published on the RBI Website on December 03, 2020 inviting application from bidders shortlisted during EOI stage, through e-tender on MSTC Portal (https://www.mstcecommerce.com/eprochome/rbi/).

Extension of Time:

The time for submission of bids has been extended to 1500 hours on March 15, 2021. The bid opening is scheduled at 1600 hours on March 15, 2021. All other terms and conditions mentioned in the RFP remains unchanged.

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