Month: April 2021

SBI launches video KYC on mobile banking app YONO

Banking & Finance

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State Bank of India (SBI) has launched a Video KYC (know your customer) based account opening feature on its mobile banking app – YONO.

This functionality will help customers open an account with India’s largest commercial bank without having to visit a bank branch, SBI said in a statement.

This digital initiative, powered by Artificial Intelligence (AI) and Facial Recognition Technology, is a contactless and paperless process.

“To avail this new facility, all that a person needs to do is download the YONO App, click on ‘New to SBI’, and select ‘Insta Plus Savings Account’.

“They will have to enter their Aadhaar details in the app and once the Aadhaar authentication is complete they will have to input personal details and schedule a video call to complete the KYC process,” the statement said.

On successful completion of Video KYC, the account will be automatically opened.

Dinesh Khara, Chairman, SBI, said the launch of online Savings Bank account opening facility is very much necessary in the current pandemic situation.

This is a step ahead to ensure customers’ safety, financial security, and cost-effectiveness, he added.

Since its launch in November 2017, YONO saw 80 million downloads and over 37 million registered users, the statement said.

SBI has partnered with over 100 e-commerce players in more than 20 plus categories on the YONO platform.

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Gold ETFs Vs Gold Mutual Funds: Which Is Better For Investment?

Personal Finance

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Investment in Gold ETF

A gold ETF is a form of exchange-traded fund that can be used to replace physical gold. Physical gold investment is inconvenient and risky, as any investor knows. Gold ETFs are passive investment vehicles that invest in gold bullion and are dependent on gold prices. The reserves of an ETF are completely transparent due to its clear gold pricing. Furthermore, relative to physical gold investments, ETFs have much lower expenses due to their special structure and creation process. Gold ETFs invest in 99.5 percent purity gold bullion, which is equivalent to holding the gold.

Gold ETFs are ideal for those who choose to use gold as an investment option rather than for personal use. Gold ETFs can be used as a buffer against any form of uncertainty. It aids in asset diversification and ensures that your portfolio is well-balanced; as gold prices fall or rise, you can adjust your asset allocation plan to ensure that risk is minimized and gains are sustained.

Investment in Gold Mutual Funds

Investment in Gold Mutual Funds

Gold Mutual Funds are gold funds that invest in gold exchange-traded funds (ETFs). Gold funds invest in gold bullion and depend on instruments that are directly linked to gold prices.

Gold mutual funds, like any other mutual fund, earn returns based on the performance of their underlying investment. The NAV of gold funds changes in this situation as the price of the gold ETFs in which they have invested changes.

You will be investing in gold at the current rate if you purchase a gold fund. You will be selling gold at the current rate when you redeem. You’ve made money on gold if the price of gold at the time of redemption is higher than the price at the time of investment.

Difference Between Gold Mutual Funds VS Gold ETF

Difference Between Gold Mutual Funds VS Gold ETF

Minimum Amount

Gold Mutual Funds require a minimum investment of INR 1,000 (as a monthly SIP), while Gold ETFs usually require a minimum investment of 1 gram gold, which is close to INR 2,785 at current rates.

Investment Mode

SIP-based gold funds are available, while gold ETFs are not. Without a Demat account, Gold mutual funds may be purchased from mutual funds; however, Gold ETFs are traded on the exchanges and need a Demat account.

Transaction Cost

The management costs of Gold ETFs are lower than the Gold Mutual Funds. Gold MFs investing in Gold ETFs also have Gold ETF costs.

Transferability

Whenever required, one can convert ETF to metal while gold MF stays on a Demat account, like any other equity.

Liquidity

In contrast to gold funds, ETFs have no exit loads, which ensures that investment companies can buy or sell the units during the market hours at any time. The sale to the fund house on the NAV of Units of Gold Funds can be redeemed by day.

Taxation

If you invest in gold by mutual funds or exchange-traded funds, the long-term capital gains tax rate would be 20% plus a 4% cess. Short-term investors (those with a holding period of fewer than 36 months) would not be subject to direct taxation on their profits. Instead, those earnings are applied to their other earnings, and taxes are levied according to the relevant slabs.

Comparision table

Comparision table

Gold Mutual Funds VS Gold ETF

Features

Gold MF

 Gold ETF
Investment Amount Minimum investment Rs 1,000 Minimum investment is 1 gram of gold.
Account Demat account is not required Demat account is required
Investment Invests in pure gold of 99.5% purity Invests in gold ETFs
SIP SIP route of investment No SIP route
Liquidity Compared to gold ETFs, they are less liquid. Offer higher liquidity
Conversion No facility to convert into physical gold Gold ETFs can be converted to physical gold
Charges If units are redeemed before one year, gold mutual funds charge an exit load. Gold ETFs charge no exit loads

Conclusion

Conclusion

Gold ETF and Gold funds have their pros and cons but track the gold prices. One can check the performance of the ETF and gold mutual funds before deciding to opt. Also, make sure to check the expenses and tax implications when you sell your fold investments. Investing in Gold ETFs rather than keeping gold in physical form or investing in a gold fund is a better long-term strategy for accumulating gold.



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Reserve Bank of India – Press Releases

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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8 Ways To Enhance Your Mutual Fund Returns

Personal Finance

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Investment

oi-Roshni Agarwal

|

Everybody who invest in some or the other instrument look for ways of maximizing their returns, similarly there are ways one can maximize their returns from mutual funds:

Also, after eight straight months, there has been seen a surge in SIP registration and so amid such a trend here we tell you ways to maximize your return on mutual funds.

8 Ways To Enhance Your Mutual Fund Returns

8 Ways To Enhance Your Mutual Fund Returns

1. Investors with market insight need to go for direct plans:

Here your cost charged to the NAV on account of charges is done away with, so returns are typically 1-1.5% higher than the regular plans. And this higher earning or saving of 1-1.5% over a longer tenure means a substantial amount.

2. Mutual funds that show consistency in performance should be opted for:

MFs that have had a good track record over a 3 and 5-year timeframe should ideally be chosen. Also, you need to go with funds having sufficient fund size as liquidity risk can emanate in case of low AUMs.

3. Diversify your mutual fund portfolio:

As it is mutual fund offer a degree of flexibility and is a mix of investments, do ensure to have a varied set of investments in your mutual fund bucket. Say for instance, do not put all your investible surplus into equity funds as any sharp correction will turn out to be very heavy for you.

4. SIP route offers disciplined return:

Rupee cost averaging benefit via Systematic investment plan offers both a higher return as well as reduces investors’ cost. Here in case the markets are low, one can get a higher number of units and viceversa.

5. On index correction, you may move some liquid portion into MFs:

In case of correction, you can put some of the funds from liquid fund into equity funds and this will help you to buy lower. And now you will be able to maximize or improve your returns on mutual funds in the long term.

6. Plan your exit from mutual funds:

Here you can plan redemption from mutual funds schemes across timelines such as to spread your profits across years to get higher benefit of tax-free gains. This shall mean higher post-tax earnings for an investor.

7. Regularly review your portfolio and steer clear of laggards:

Mutual funds need to be watched out for six quarters and now if the fund underperforms its peers consistently then it shall be better to completely exit such a fund. Here’s regardless of the exit load and capital gains tax implication, one should focus on exiting the fund.

8. Index fund can also give better returns:

If the equity funds have been underperforming for quite a while then taking exposure into large cap stock via index fund or ETF carrying low expense ratio can still be a profitable move. Index fund typically provide an exposure to all the index constituents.

GoodReturns.in



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RBI partially lifts freeze on dividend declaration by commercial banks for FY21

Banking & Finance

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The Reserve Bank of India (RBI) has partially lifted the freeze on declaration of dividends by commercial banks for the financial year ended March 31, 2021.

It also permitted cooperative banks to pay dividend on equity shares from the profits of the financial year ended March 31, 2021 as per the extant instructions.

The central bank, on April 17, 2020, had directed commercial banks and co-operative banks not to make any further dividend payouts from the profits pertaining to the financial year ended March 31, 2020 until further instructions.

The RBI issued the aforementioned direction in an environment of heightened uncertainty caused by Covid-19. It said it is important that banks conserve capital to retain their capacity to support the economy and absorb losses.

 

Latest circular

In its latest circular on ‘Declaration of dividends by banks’, RBI said banks may pay dividend on equity shares from the profits for the financial year ended March 31, 2021, subject to the quantum of dividend being not more than 50 per cent of the amount determined as per the dividend payout ratio.

As per RBI’s 2005 circular on ‘Declaration of dividends by banks’, depending on the matrix criteria of capital to risk weighted assets ratio and net non-performing assets, the dividend payout ratio cannot exceed 40 per cent

Dividend payout ratio is calculated as a percentage of ‘dividend payable in a year’ (excluding dividend tax) to ‘net profit during the year’.

In case the profit for the relevant period includes any extra-ordinary profits/ income, the payout ratio shall be computed after excluding such extra-ordinary items for reckoning compliance with the prudential payout ratio.

“In view of the continuing uncertainty caused by the ongoing second wave of Covid-19 in the country, it is crucial that banks remain resilient and proactively raise and conserve capital as a bulwark against unexpected losses.

“Therefore, while allowing banks to pay dividend on equity shares, it has been decided to review the dividend declaration norms for the year ended March 31, 2021,” the circular said.

RBI said all banks shall continue to meet the applicable minimum regulatory capital requirements after dividend payment.

While declaring dividend on equity shares, RBI said it shall be the responsibility of the Board of Directors to inter-alia consider the current and projected capital position of the bank vis-à-vis the applicable capital requirements and the adequacy of provisions, taking into account the economic environment and the outlook for profitability.

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Reserve Bank of India – Press Releases

Press Releases

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In the underwriting auctions conducted on April 23, 2021 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

(₹ crore)
Nomenclature of the Security Notified Amount Minimum Underwriting Commitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount underwritten ACU Commission Cut-off rate
(paise per ₹ 100)
5.63% GS 2026 11,000 5,502 5,498 11,000 11.42
GoI FRB 2033 4,000 2,016 1,984 4,000 9.44
6.64% GS 2035 10,000 5,019 4,981 10,000 24.00
6.67% GS 2050 7,000 – – – –
Auction for the sale of securities will be held on April 23, 2021.

Rupambara
Director   

Press Release: 2021-2022/99

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SBI research dept cuts FY22 real GDP forecast to 10.4% from 11%

Banking & Finance

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State Bank of India’ Economic Research Department has revised its real GDP growth forecast downwards to 10.4 per cent from 11 per cent in FY22 in view of the Covid-19 pandemic related partial/ local/ weekend lockdown in almost all the states.

The ERD estimated the total monetary impact (total loss) of the current lockdown in various States at Rs 1.5 lakh crores. Of this, Maharashtra, Madhya Pradesh and Rajasthan account for 80 per cent.

“Maharashtra has put up a stringent lockdown. Being the economically biggest and most industrialised state in India, this lockdown will have a huge impact on growth.

“Currently, we estimate loss of around Rs 82,000 crore for Maharashtra (which accounts for 54 per cent of the total loss) which will definitely increase if restrictions are further tightened,” Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI, said.

 

Migration of labour

The ERD’s presentation titled ‘Thwarting the Second Wave: Rapid Vaccination should be the primary tool and not Lockdown,’ said migration of labour is continuing unabated.

According to data provided by Western Railways (Headquarters: Mumbai; for the period of April 1-12), almost 4.32 lakh people have returned to states such as Uttar Pradesh (UP), West Bengal (WB), Bihar, Assam and Odisha from Maharashtra.

“Of the 4.32 lakh, around 3.23 lakh reverse migrated to UP and Bihar alone. From Central Railways our estimate indicates that around 4.7 lakh reverse migrated to northern and eastern states from Maharashtra,” the presentation said.

 

SBI’s Business Activity Index is now at a five-month low (at 86.3 in the week ended April 19, 2021). All the indicators have shown a dip with maximum decline in Apple mobility, weekly food arrival at Mandis and RTO revenue collection, according to SBI’s ERD.

Referring to the April-May 2020 period witnessing huge monthly incremental increase in deposits (particularly time deposits) as people had fewer options to spend due to the nationwide lockdown, Ghosh observed that this time also large traction in time deposits can be expected as most of the states have imposed a partial lockdown.

 

All Scheduled Commercial Banks’ credit growth declined to a 59-year-low of 5.6 per cent in 2020-21, compared to 6.1 per cent growth in 2019-20, the presentation said. On the other hand, deposits have increased to 11.4 per cent in FY21, compared to 7.9 per cent growth in FY20.

Peak time

The ERD’s model suggests that the estimated peak time is 96 days from February 15, indicating the peak happening in the third week of May.

“It may be noted that we are incrementally adding around 15,000 cases over the peak of the previous day as of today, though such numbers are difficult to predict.

“Uttar Pradesh and Maharashtra achieved a peak before the national peak in the first wave. Now new cases in Maharashtra seem to be stabilising but the share of cases in total of various other states (Chhattisgarh, Madhya Pradesh, Gujarat) has increased in the current second wave and these are showing an increase in daily new cases,” Ghosh said.

So, if other states also implement strict actions and control the spread, then the national peak may come within the weeks after the Maharashtra peak, he added.

Vaccine update

The presentation said: “Spanish Flu in 1918 shows more deaths in later waves, thus vaccination is a must to avoid larger fatalities later.

“Injection to infection ratio shows that India made rapid improvement this year, but it is still below Israel, Chile and UK…Only 2.6 per cent of the population in the world is fully vaccinated, and in India only 1.2 per cent of population is fully vaccinated till now.”

The experience of other countries shows infections stabilise after 15 per cent of the population receives a second dose, it added.

Now that States are free to buy vaccines from manufacturers from May 1, ERD’s estimate for 13 States shows that the cost of vaccines at almost 15-20 per cent of States’ health expenditure budget (assuming half of the population in these states will get vaccinated by the Central Government), still it will be only 0.1 per cent of GDP.

This is significantly lower than the economic loss in GDP due to lockdown, which is already at 0.7 per cent of GDP, it added.

Vaccine Hesitancy Index

The ERD observed that the state-wise performance in case of vaccination is quite uneven.

“Our ‘Vaccine Hesitancy Index’ calculated as doses administered per 100 available shows that all N-E states and in states like Goa, Jharkhand, Assam, Delhi, Uttarakhand, Chhattisgarh there is a vaccine hesitancy,” Ghosh said.

Give ambulance status to oxygen tankers

The ERD said all states should allow ambulance status to oxygen tankers so that they move faster, which will certainly help and reduce the transit time.

“Government of India should analyse the oxygen data on a daily basis and direct supply. This is purely a supply chain optimisation problem,” Ghosh said.

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Reserve Bank of India – Tenders

Tenders

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Reserve Bank of India invites online e-tenders for Design, supply, installation, testing & commissioning of 160 KVA Auto Start Green Diesel Generator Set with AMF panel and acoustic enclosure for Bank’s Deputy Governor’s Flats, Napean Sea Road, at Mumbai

1. Online Tenders by e-tendering process are invited for above work at Bank’s Deputy Governor’s Flats at Mumbai. The e-tender is to be submitted through the website www.mstcecommerce.com. The work is estimated to cost Rs. 18 lakhs (Eighteen Lakhs Only) and is to be completed within 90 days.

2. Online Tenders will be available to view/download for all firms from 11:00 AM on -23.04.2021 but only those contractors who have minimum 5 years’ experience in the field of undertaking similar works of Design, supply, installation, testing & commissioning of Auto Start Green Diesel Generator Set with AMF panel and acoustic enclosure during last 5 years (works completed on or after March 31, 2016) and have executed successfully similar works individually costing as under:

(a) Three works each costing not less than 40% of Rs. 18 Lakh

OR

(b) Two works each costing not less than 50% of Rs. 18 Lakh

OR

(c) One work costing not less than 80% of Rs. 18 Lakh

AND

(d) Have a minimum yearly turnover of 100% of the Rs. 18 Lakh during the last 3 financial years

AND

(e) Have a service set up in Mumbai for rendering after sales service. Only tenderers who qualify as above will be eligible to participate in the tender for the work.

The required documents evidencing compliance of all the above criteria (Pre-Qualification Papers) shall be submitted by the firm on or before 14.05.2021 by 05:00 PM at Fort Office Estate Cell.

3. The contractors shall also be required to furnish, at the time of submitting Pre-Qualification papers the following information in writing along with documents to satisfy the Bank about their eligibility for participating in the tendering process:

(a) Composition of the firm Full particulars (whether contractor is an individual or a partnership firm or a company etc.) of the composition of the firm of contractors in detail should be submitted along with the name(s) and address(es) of the partners, copy of the Articles of association/power of Attorney/any other relevant document
(b) Work experience and completion of similar works of specified value during the specified period Copies of the detailed work orders for the qualifying works indicating date of award, value of awarded work, time given for completing the work, etc. and the corresponding completion certificates indicating actual date of completion and actual value of executed similar works should be enclosed in proof of the work experience.
The details along with documentary evidence of previous experience if any, of carrying out works for the Reserve Bank of India at any centre should also be given.
(c) Creditworthiness of the contractor & their Turn over during the specified period Copies of the Income Tax Clearance Certificates/Income Tax Assessment orders along with the latest final accounts of the business of the contractor duly certified by a Chartered Accountant should be enclosed in proof of their creditworthiness and turnover for last three financial years.
(d) Name(s) and address(es) of the Bankers and their present contact executives Written information about the names and address of their bankers along with full details like names, postal addresses, e-mail IDs, telephone (landline and mobile) nos., fax nos. etc. of the contact executives (i.e. the persons who can be contacted at the office of their bankers by the Bank, in case it is so needed) should be furnished
(e) Details of bank accounts Full particulars of their bank accounts, like account no., type, when opened etc. should be given
(f) Name(s) and address(es) of the Clients and their present contact executives. Written information about the names and addresses of their clients along with full details, like names, postal addresses, e-mail IDs, telephone (landline and mobile) nos., fax nos. etc. of the contact executives (i.e. the persons who can be contacted at the office of their clients by the Bank in case it is so needed) should be furnished.
(g) Details of completed works The client-wise names of work(s), year(s) of execution of work(s), awarded and actual cost(s) of executed work(s), completion time stipulated in the contracts (s) and actual time taken to complete the work(s), names and full contact-details of the officers/authorities/departments under whom the work(s) was/were executed should be furnished.

4. In the event of intending tenderer’s failure to satisfy the Bank, the Bank reserves the right to refuse their participation/reject their tender.

5. Tender forms will be available for download on MSTC Website http://www.mstcecommerce.com from 11:00 AM on 23.04.2021. A pre-bid meeting of the eligible bidder (who meets the PQ criteria) will be held on 26.05.2021 at 11:00 AM in the Bank’s Office Building, Estate Cell, Fort Office, Mumbai

6. The Pre-Qualification papers super scribed as “Pre-Qualification documents for Design, supply, installation, testing & commissioning of 160 KVA Auto Start Green Diesel Generator Set with AMF panel and acoustic enclosure for Bank’s Deputy Governor’s Flats at Napean Sea Road, Mumbai.” addressed by name to Shri. Ajay Michyari, Regional Director, Reserve Bank of India, shall be submitted to AGM (Admin) Estate Cell, Fort Office Mumbai latest by 14.05.2021 till 05:00 PM for Bank’s examination. Alternatively, the scanned copy of all the PQ document may be forwarded to mail id: abhayjoshi@rbi.org.in and anandmahadevan@rbi.org.in latest by 14.05.2021 till 05:00 PM. However those firms who have forwarded the scanned copies through mail has to submit the original copies of PQ documents on or before 07.06.2021 by 02:00 PM.

7. An EMD of Rs 36,000/- (Thirty Six Thousand Only) shall be submitted by the eligible tenderer on or before 07.06.2021 by 02:00 PM in the form and manner as prescribed in the Part-I of the tender.

8. Tender in prescribed form shall be submitted in two parts in online mode. Part-I tender will contain an online undertaking towards acceptance of Bank’s standard technical and commercial conditions for the proposed work, tenderers’ covering letter (scanned copy to be uploaded) and Part-2 ( Price bid) to be filled online.

9. Part I of the tenders will be opened at 3:00 PM on 07.06.2021 in the online mode. Part II of the online tender will be opened on subsequent date, with due intimation to the eligible tenderers.

10. The applicants /tenders have to submit in a sealed envelope /cover:

a) Client’s certificate as per format mentioned in the tender.

b) Banker’s certificate as per format mentioned in the tender.

The certificates should be addressed to Shri. Ajay Michyari, Regional Director, Reserve Bank of India, Estate Office, Fort Cell, 2nd Floor, Mumbai- 400 001 and shall be submitted on or before 05:00 PM on 14.05.2021 in a sealed envelope/cover to AGM (Admin), Estate Cell, Fort Office, Mumbai. The client’s certificate shall be accepted only when the same is signed by an official of the rank of Executive Engineer or equivalent in respect of a Government/Semi Government organization or a PSU. The client’s certificate issued by the private organizations shall also accompany Tax Deducted at Source (TDS) certificates. Applications/tenders received without the above certificates are liable for rejection. The Bank shall have the right to independently verify these certificates.

The Bank shall evaluate the said reports before evaluation of price bid of the tenderers. If any tenderer is not found to possess the required eligibility for participating in the tendering process at any point of time and/or his performance reports received from his clients and/or his bankers are found unsatisfactory, the Bank reserves the right to reject his offer even after opening of Part-I of the tender. The Bank is not bound to assign any reason for doing so.

11. 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 any or all the tenders without assigning any reason thereof.

SCHEDULE OF TENDER (SOT)

a. e-Tender no RBI/Mumbai/Mumbai/74/20-21/ET/721
b. Mode Of Tender e-Procurement System
(Online Part I – Techno-Commercial Bid and Part II – Price Bid through
(www.mstcecommerce.com/eprochome/rbi)
c. Date of NIT available to parties to download 23.04.2021at 11:00 AM onwards
d. Pre-Bid meeting 11:00 AM on 26.05.2021 at 2nd Floor, Estate Cell, Fort Office, Mumbai 400001
e. Earnest Money Deposit ₹ 36,000/- (Rupees Thirty Six Thousand only) by NEFT or in the form of DD on or before 2:00 PM on June 07, 2021.

The DD shall be submitted in sealed cover addressed by name to Shri Ajay Michyari, Regional Director, Main Office Building, Reserve Bank of India, Fort, Mumbai -400001 so as to reach Estate Office, Second Floor, Main Office Building, Reserve Bank of India, Fort, Mumbai- 400001

NEFT Details
A/c No – 04861436206
IFSC CODE – RBIS0MBPA04
f. Last date of submission of EMD June 07, 2021 till 2.00 PM
g. Last date of submission of Pre-Qualification (PQ) papers 14.05.2021 till 5:00 PM
h. Date of Starting of e-Tender for submission of on line Techno-Commercial Bid and price Bid at www.mstcecommerce.com/eprochome/rbi April 23, 2021 from 11:00 AM onwards
i. Date of closing of online e-tender for submission of Techno-Commercial Bid & Price Bid June 07, 2021 till 2.00 PM
j. Date & time of opening of Part-I (i.e. Techno-Commercial Bid)

Part II of the online tender will be opened on same day or subsequent date, which will be intimated to the tenderers in advance.

 June 07, 2021 at 3.00 PM

Shall be intimated to the eligible bidders subsequently
k. Transaction Fee Rs.1000/- plus GST @18%
To be paid through MSTC payment Gateway/ NEFT/RTGS in favour Of MSTC Ltd.

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Reserve Bank of India – Press Releases

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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