Month: May 2021

SBI Vs RBL Vs Axis Vs DCB Vs Yes Bank: Revised Interest Rates On FD Compared

Personal Finance

[ad_1]

Read More/Less


SBI Fixed Deposit

The interest rate on SBI FDs ranges from 2.90 per cent to 5.40 per cent. The deposit period, which can vary from 7 days to 10 years, influences SBI Bank FD rates. The bank’s most recent fixed deposit rates for regular citizens and senior citizens for deposits of less than Rs 2 crore are mentioned below.

Tenure Regular FD Rates Senior Citizen FD Rates
7 days to 45 days 2.90% 3.40%
46 days to 179 days 3.90% 4.40%
180 days to 210 days 4.40% 4.90%
211 days to less than 1 year 4.40% 4.90%
1 year to less than 2 year 4.90% 5.50%
2 years to less than 3 years 5.10% 5.60%
3 years to less than 5 years 5.30% 5.80%
5 years and up to 10 years 5.40% 6.20%
Source: SBI, W.e.f. 08.01.2021

RBL Bank Fixed Deposit

RBL Bank Fixed Deposit

RBL Bank offers regular citizens and elderly citizens a range of Fixed Deposit options, with maturities ranging from 7 days to 20 years. FD interest rates range from 3.25 per cent per year to 6.60 per cent per year for deposits with maturity duration of 7 days to 20 years. Recently, RBL Bank amended its FD interest rates for a deposit amount of less than Rs 2 Cr, which are in force from May 7, 2021.

Tenure Regular FD Rates Senior Citizen FD Rates
7 days to 14 days 3.25% 3.75%
15 days to 45 days 4.00% 4.50%
46 days to 90 days 4.25% 4.75%
91 days to 180 days 4.75% 5.25%
181 days to 240 days 5.25% 5.75%
241 days to 364 days 5.50% 6.00%
12 months to less than 24 months 6.25% 6.75%
24 months to less than 36 months 6.25% 6.75%
36 months to less than 60 months 6.40% 6.90%
60 months to 60 months 1 day 6.60% 7.10%
60 months 2 days to less than 120 months 6.00% 6.50%
120 months to 240 months 6.00% 6.50%
Tax Savings Fixed Deposit (60 months) 6.60% 7.10%
Source: RBL Bank

Axis Bank Fixed Deposit

Axis Bank Fixed Deposit

The interest rates on fixed deposits (FDs) have recently changed by Axis Bank and are in force from May 21, 2021. Following the most recent adjustment, the bank’s interest rates on deposits of less than Rs 2 crore for periods ranging from seven to 10 years are listed below.

Tenure Regular FD Rates Senior Citizen FD Rates
7 days to 14 days 2.50% 2.50%
15 days to 29 days 2.50% 2.50%
30 days to 45 days 3.00% 3.00%
46 days to 60 days 3.00% 3.00%
61 days less than 3 months 3.00% 3.00%
3 months to less than 4 months 3.50% 3.50%
4 months to less than 5 months 3.50% 3.50%
5 months to less than 6 months 3.50% 3.50%
6 months to less than 7 months 4.40% 4.65%
7 months to less than 8 months 4.40% 4.65%
8 months to less than 9 months 4.40% 4.65%
9 months to less than 10 months 4.40% 4.65%
10 months to less than 11 months 4.40% 4.65%
11 months to less than 11 months 25 days 4.40% 4.65%
11 months 25 days to less than 1 year 4.40% 4.65%
1 year to less than 1 year 5 days 5.10% 5.75%
1 year 5 days to less than 1 year 11 days 5.15% 5.80%
1 year 11 days to less than 1 year 25 days 5.10% 5.75%
1 year 25 days to less than 13 months 5.10% 5.75%
13 months to less than 14 months 5.10% 5.75%
14 months to less than 15 months 5.10% 5.75%
15 months to less than 16 months 5.10% 5.75%
16 months to less than 17 months 5.10% 5.75%
17 months to less than 18 months 5.10% 5.75%
18 Months to less than 2 years 5.25% 5.90%
2 years to less than 30 months 5.40% 6.05%
30 months to less than 3 years 5.40% 5.90%
3 years to less than 5 years 5.40% 5.90%
5 years to 10 years 5.75% 6.50%
Source: Axis Bank

DCB Bank Fixed Deposit

DCB Bank Fixed Deposit

FD rates of DCB bank are now spanning from 4.55 per cent to 6.50 per cent following the most recent adjustment on May 15, 2021. Check out the bank’s current FD rates for deposits of less than Rs 2 crore below.

Tenure Regular FD Rates Senior Citizen FD Rates
7 days to 14 days 4.55% 5.05%
15 days to 45 days 4.55% 5.05%
46 days to 90 days 4.50% 5.00%
91 days to less than 6 months 5.25% 5.75%
6 months to less than 12 months 5.70% 6.20%
12 months to less than 15 months 5.80% 6.30%
15 months to less than 18 months 6.00% 6.50%
18 months to less than 700 days 6.00% 6.50%
700 days 6.40% 6.90%
More than 700 days to less than 36 months 6.00% 6.50%
36 months 6.50% 7.00%
More than 36 months to 60 months 6.50% 7.00%
More than 60 months to 120 months 6.50% 7.00%
Source: DCB Bank

Yes Bank Fixed Deposit

Yes Bank Fixed Deposit

Yes Bank recently revised its FD interest rates which are in force from May 10, 2021. After the most recent adjustment, Yes Bank is now promising an interest rate of 3.5% to 6.75% for a deposit amount of less than Rs 2 Cr. Check out the latest rates below.

Tenure Regular FD Rates Senior Citizen FD Rates
7 to 14 days 3.50% 4.00%
15 to 45 days 3.75% 4.25%
46 to 90 days 4.25% 4.75%
3 months to less than 6 months 4.75% 5.25%
6 months to less than 9 months 5.25% 5.75%
9 months to less than 1 Year 5.50% 6.00%
1 years less than 2 years 6.00% 6.50%
2 years less than 3 years 6.25% 6.75%
3 Years to less than 5 years 6.50% 7.25%
5 Years to less than equal to 10 years 6.75% 7.50%
Source: Yes Bank



[ad_2]

CLICK HERE TO APPLY

Leave a comment

3 Reasons Why SBI Shares Hit New Record High, Should You Buy Now?

Personal Finance

[ad_1]

Read More/Less


Quarterly numbers were outstanding

Several brokerages have termed the results for the quarter ending March 31, 2021 as superb. “State Bank of India’s 4QFY21 results has been nothing less than spectacular. The bank reported 4QFY21 slippages of just Rs 54.7 billion (a 20 quarter low; surprisingly comparable to other Private Banks), thus taking total slippages for FY21 to Rs 285 billion (1.2% of loans), while restructuring book stands controlled at 0.7% of loans,” Motilal Oswal Institutional Equities said in a report.

An Emkay Global Financials report had a similar view. The broking firm said, “Q4 was an extremely strong quarter, with 9% PAT beat at Rs 64.5 billion, better-than-expected asset-quality performance,” the broking firm said. On most parameters the bank reported numbers that were encouraging according to brokerages, including foreign brokerages.

Price targets on the stock hiked

Price targets on the stock hiked

While several brokerages have hiked the target price on SBI, Motilal Oswal has set a target of Rs 530, while Emkay Global has set a price target of Rs 600 on the stock.

“We expect it to deliver FY22E/FY23E RoE of 13.9%/15%. We maintain our BUY rating with a revised target price of Rs 530 per share (1.1x FY23E ABV+INR187/share from subsidiaries). SBIN continues to remain among our top Buys in the sector,” Motilal Oswal has said.

“Retain Buy/overweight in EAP with a sharp revision in target price to Rs 600 (Rs 460 earlier), valuing core bank at 1.4x FY23E ABV (1x earlier) and subs/investments at Rs 186 (Rs 172 earlier), leading to a strong 50% upside. SBI is our second top pick, along with ICICI, and better-than-expected growth trajectory should provide further upside to its earnings/valuations,” Emkay Global has said.

Improving asset quality

Improving asset quality

Clearly, it is the dropping non performing assets that has also attracted the attention of investors.

The gross non performing assets of the bank fell 15% in FY21 (43% decline over the past three years), while the coverage ratio has increased to 71% at present from 40% four years back, Motilal Oswal report has noted.

“Gross non performing asset at 5% vs. 5.4% in Q3 and lower RSA pool at 0.7% of loans) and a healthy specific PCR (71%), coupled with a reasonable Covid buffer at 25bps,” Emkay Global has said. However, one will have to wait and watch for the impact of the second wave of the Covid-19 on the first quarter 2021-22 results.

Disclaimer

Disclaimer

Goodreturns.in has taken utmost care in compilation of data for this article. We are not a qualified financial advisor and any information herein is not investment advice. It is informational in nature. All readers and investors should note that neither Greynium nor the author of the articles, would be responsible for any decision taken based on these articles. Please do consult a professional advisor. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and authors do not accept culpability for losses and/or damages arising based on information in GoodReturns.in



[ad_2]

CLICK HERE TO APPLY

Leave a comment

BFSI firms reshaping customer service with chatbots and robotics, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


There is no dearth of chatbots when it comes to the BFSI industry, more and more organizations are leveraging it to reduce cost and serve increasingly tech-savvy customers, most basic tasks are being handled by chatbots allowing customer representatives to handle complex issues leading to a more positive banking experience.

In the 2nd ETBFSI Virtual Summit, Bankers discussed and shared their experience on how they’ve been deploying chatbots and robotics to service customers, cut costs and free up resources for customer representatives to handle complex queries.

Dheemant Thacker, Head – Digital Banking, Ujjivan Small Finance Bank said, “Chatbots have evolved from structured responses to unstructured responses from text to voices, from single language to multilingual. Chatbot is like a new born baby, as we feed a lot of structured information the bot learns itself through self-learning algorithms to get the right response for unstructured information.”

Thacker also believes that the text to voice evolution is happening in a phenomenal way and a lot of voice based chatbots are being used in contact centres where customers are now able to be serviced round the clock with higher accuracy and in case the chatbot fails then humans can take over.

Patanjali Somayaji, CTO, Capital Float echoes the same thought.

According to Somayaji, Chatbot straddles between a manual and automated experience and can be leveraged on respective platforms depending on the customer journey and platform the customer opts for. He also believes that the use of chatbots has not only evolved from a customer or user experience perspective and in-fact it started right from the product building perspective too.

Haresh Hiranandani, Sr VP at Kotak Mahindra Bank says, “Chatbots have brought in a common AI layer which can go across digital channels. Today a customer journey can be started and closed on a chatbot and it also brings intelligence on the platform.”
Hiranandani adds, “Chatbots are getting intelligent on the common AI layer and building more intelligence is the way forward.”



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , ,

5 Best 1-3 Year Fixed Deposits To Invest

Personal Finance

[ad_1]

Read More/Less


Investment

oi-Vipul Das

|

Fixed deposits in banks are considered to be among the safest investment alternatives since they are not affected by market fluctuations. Investors can put a large sum of money into a fixed deposit, which provides guaranteed returns in the form of interest rates. Investors have the option of receiving their payouts in a variety of ways. For example, if an investor wants the money to satisfy their regular expenditures, he or she can select the non-cumulative option or can have the principal amount plus interest at the time of maturity through the cumulative option. Normally fixed deposits come with a tenure starting from 7 days to 10 years. But if you have short term goals and want to invest in fixed deposits, let’s say about 1 to 3 years, then you are in the right place. Here we have compiled the top 5 banks which are currently giving higher interest rates on 1 to 3 year fixed deposits.

5 Best 1-3 Year Fixed Deposits To Invest

1 Year Fixed Deposits

Below are the top 5 banks which are currently promising higher returns in 1 year fixed deposits for a deposit amount of less than Rs 2 Cr.

Banks Regular FD Rates Senior Citizen FD Rates W.e.f.
IndusInd Bank 6.50% 7.00% 26.04.2021
Ujjivan Small Finance Bank 6.50% 7.00% 05.03.2021
Equitas Small Finance Bank 6.50% 7.00% 25.01.2021
Suryoday Small Finance Bank 6.25% 6.75% 15.02.2021
RBL Bank 6.25% 6.75% 07.05.2021
Source: Bank Websites

2 Year Fixed Deposits

The top 5 banks now offering higher returns on two-year fixed deposits for a deposit amount of less than Rs 2 crore are listed below.

Banks Regular FD Rates Senior Citizen FD Rates W.e.f.
Suryoday Small Finance Bank 6.75% 7.25% 15.02.2021
IndusInd Bank 6.50% 7.00% 26.04.2021
Ujjivan Small Finance Bank 6.50% 7.00% 05.03.2021
Jana Small Finance Bank 6.50% 7.00% 07.05.2021
Equitas Small Finance Bank 6.40% 6.90% 25.01.2021
Source: Bank Websites

3 Year Fixed Deposits

The top five banks that are currently giving higher returns on three-year fixed deposits for deposits under Rs 2 crore are given below.

Banks Regular FD Rates Senior Citizen FD Rates W.e.f.
Suryoday Small Finance Bank 7.00% 7.50% 15.02.2021
Ujjivan Small Finance Bank 6.75% 7.25% 05.03.2021
Equitas Small Finance Bank 6.65% 7.15% 25.01.2021
DCB Bank 6.50% 7.00% 15.05.2021
IndusInd Bank 6.50% 7.00% 26.04.2021
Source: Bank Websites

Story first published: Friday, May 28, 2021, 10:09 [IST]



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Nifty hits all-time high as heavyweights HDFC twins, RIL lift D-Street, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


Domestic equity benchmarks began Friday’s session on a strong note with the Nifty50 benchmark scaling a record high amid strong buying interest in heavyweights such as HDFC twins, RIL and ICICI Bank.

The S&P BSE Sensex index rose as much as 361.83 points to touch 51,477.05 in the first few minutes of trade, and the broader NSE Nifty 50 benchmark climbed to a record high of 15,455.55, up 117.7 points from its previous close.

HDFC was the top performer in the Sensex universe, trading 1.25 per cent higher in early deals. HDFC Bank, IndusInd Bank, ICICI Bank, RIL and SBI were among other gainers.

On the other hand, Sun Pharma was the top laggard, down 3 per cent. Dr Reddy’s, M&M, Nestle and Bajaj Auto were among other blue-chip losers.

Analysts awaited more Q4 earnings from India Inc for cues. M&M, REC, Ipca Laboratories, Sundaram Finance, Max Healthcare and Glenmark Pharma are among the companies slated to report their financial results later in the day.

Equities in other Asian markets cheered in the early session in line with global markets as strong US economic data solidified hopes of continuing recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.40 per cent. Japan’s Nikkei 225 soared 1.95 per cent, Hong Kong’s Hang Seng rose 0.46 per cent and South Korea’s Kospi 0.42 per cent.

Overnight on Wall Street, equity benchmarks finished higher following more signals that the economy is continuing to recover. Investors were encouraged to see that weekly unemployment claims fell to another pandemic low. The Dow Jones industrial average rose 0.41 per cent, the S&P 500 0.12 per cent and the Nasdaq Composite ended flat.

In the oil market, prices pushed higher supported by firm US economic data and expectations of a strong rebound in global fuel demand in the third quarter. Concerns eased about the impact of any return of Iranian supplies. Brent crude futures for July gained 0.2 per cent to $69.62 per barrel.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

Official, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


SHANGHAI: Energy regulators in China’s Sichuan province will soon meet local power companies to gather information on cryptocurrency mining, an official said, potentially leading to a clampdown in the country’s second-biggest bitcoin production hub.

China’s central government vowed last week to crack down on bitcoin mining and trading, while this week Inner Mongolia, also a major mining centre, proposed measures to root out the business. Such measures are accelerating a shift of mining activities to North America and Central Asia.

An official at the Sichuan Energy Regulatory Office of National Energy Administration told Reuters that Sichuan was not the only province gathering information on cryptomining.

But the official, who is not authorized to speak to the media, declined to say whether Sichuan would announce measures to crack down on the practice following the meeting with power companies. Chinese media reported earlier that Sichuan would hold a seminar on cryptomining on June 2.

Bitcoin and other cryptocurrencies are created or “mined” by high-powered computers competing to solve complex mathematical puzzles in an energy-intensive process that often relies on fossil fuels, particularly coal.

Cryptomining is a big business in China, accounting for over half of global cryptocurrency supply. But the power-hungry business could hinder China in meeting carbon-neutrality goals, according to some analysts.

The annual energy consumption of China’s bitcoin industry is expected to peak in 2024 at about 297 terawatt-hours, exceeding the total power consumption level of Italy and Saudi Arabia in 2016, according to a study recently published in scientific journal Nature Communications.

Sichuan, rich in hydropower resources, is China’s second-biggest bitcoin mining province after Xinjiang, contributing to nearly 10% of China’s hashrate, or computing power, in April, according to data compiled by the University of Cambridge.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , ,

Crypto versus gold debate rages on Wall Street as flows reverse, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


Gold is back with a vengeance this month just as the crypto rally falls apart, refueling the Wall Street debate over the link between the two putative hedging assets.

Bullion funds have seen the biggest two weeks of inflows since October and prices are edging closer to $1,900 an ounce. In contrast, Bitcoin has plunged by almost 40% from a $63,000 peak and funds are recording outflows.

Yes, the weaker dollar and falling inflation-adjusted yields are big reasons for the gold revival. Elon Musk-spurred volatility, meanwhile, has snuffed out some of the speculative euphoria in Bitcoin, while undermining its ambition to attract the institutional crowd.

Yet, all this fascinates a market cohort that point out the parallels between digital gold and the real deal. They’re both viewed as inflation hedges, commodities in scarce supply and capture the cultural divide between young, tech-obsessed traders and boomer traditionalists.

Meanwhile, the likes of JPMorgan & Chase & Co. and ByteTree Asset Management say gold’s recent ascent appears to have come at least partly expense of Bitcoin as investors rotate between the two.

“There is still so much confusion between Bitcoin and gold,” wrote Charlie Morris, founder of ByteTree in a note. “They coexist, and they both thrive in an inflationary environment.”

In a report on shifting gold and Bitcoin trends, Morris suggested that fund flows are having an unusually large impact in boosting the gold price, and vice versa Bitcoin’s outgoing flows are depressing prices.

Past may be prologue: Earlier this year, Bitcoin funds pulled in institutional cash as money managers extolled a case for digital currencies to creep into gold’s spot in a portfolio. With the economic growth in full swing, more than $20 billion then left bullion-backed ETFs in the six months to April.

For some strategists, the bullion market is a starting place to divine their price forecast for Bitcoin. In a world where investors allocate gold and Bitcoin evenly to their portfolios and the two assets converge in volatility, it would imply a valuation of Bitcoin at $140,000, JPMorgan has previously estimated.

“Needless to say such convergence or equalization of volatilities or allocations is unlikely in the near future,” strategists led by Nikolaos Panigirtzoglou wrote.

Since the Covid-19 vaccine breakthrough triggered an economic rebound in November, exchange-traded funds tracking gold sold almost 12 million troy ounces through to the start of May, worth about $22.5 billion at today’s price.

Investors pulled almost $14 billion from the SPDR Gold Shares ETF (ticker GLD) in the period, helping cut total assets in the world’s largest gold ETF by 29%. Some $1.6 billion has flowed back into the fund to put May on course for the best month since July.

In day-to-day action, the direct link between gold and Bitcoin is hard to pin down, suggesting the connection is more about market psychology than real-money flows. The threat of price pressures and weakening dollar are good reasons for the metal’s current rally.

And while predictions for Bitcoin prices have been chastened by the selloff, the enthusiasm hasn’t gone away. Bloomberg Intelligence strategist Mike McGlone, who has a price target of $100,000 for Bitcoin, says there’s still a chance crypto can become a digital reserve asset and that makes it worth the risk.

“Gold may be losing its significance, so it may be simply prudent to diversify,” wrote McGlone. “The human nature of acknowledging a new asset class is what we see as a primary Bitcoin support.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

Reserve Bank of India – Tenders

Tenders

[ad_1]

Read More/Less


The pre-bid meeting for the captioned work was conducted through WebEx meeting on 25.05.2021 at 11.00 AM in presence of the following:

For Reserve Bank of India:

  1. Shri. K. Satyanarayana, AGM (Estate)

  2. Shri. Alok Kumar, Manager (Estate)

  3. Shri. Sunil Shantaram Phadke, A.M (Tech Elect)

  4. Shri. Ram Prasad Malle, A.M (Estate)

Tenderers:

  1. Shri. Azhar Khan, M/s M K Enterprises, Nagpur.

  2. Shri. David Singh, M/s Magneto Clean Tech, New Delhi.

  3. Shri. Sameer Bhalerao, M/s Finsen Ritter Technologies Pvt. Ltd., Indore, M.P. (Queries received through e-mail)

Gist of the queries raised by the prospective bidders and Bank’s clarification on the same is as follows.

1. Whether exemption for EMD can be given to MSME companies / Startup organizations? (M/s Magneto Clean Tech)

Bank’s Clarification: No. As per the tender terms and conditions, EMD should be submitted by all the bidders. Bids for which EMD is not received will not be accepted.

2. What are the documents for uploading while submitting the tender? (M/s Magneto Clean Tech)

Bank’s Clarification: As mentioned in the page No: 2 to 4 of the tender Document.

3. Is there any relaxation in pre-qualification criteria of minimum 3 years of experience in the field of undertaking similar Design, Supply, Installation, Testing & Commissioning of UVGI Assembly in the Air Handling Units (AHUs)? Whether experience in HVAC works will be considered as equivalent experience (M/s M K Enterprises and M/s Finsen Ritter Technologies Pvt. Ltd)

Bank’s Clarification: It is informed that the above pre-qualification criteria of minimum 03 years’ experience in the field of undertaking similar DSITC of UVGI Assembly in AHUs cannot be relaxed and bids submitted by tenderers meeting the required experience criteria will only be evaluated.

4. Whether the tenderer has to submit BG for the DLP and services during AMC? (M/s M K Enterprises)

Bank’s Clarification: Yes, as per the clause 3.12.7 in tender document “The tenderer shall furnish a separate Bank guarantee of 10% of the contract value as Security for due fulfilment of terms and obligation of defects liability period and services during AMC. The amount of Bank Guarantee will be valid for five years from the date of handing over of the system to the Bank. After that BG of 5% of the quoted rate will have to be submitted for further period of 3 years”.

5. Whether any specific make and model required for UVGI? (M/s M K Enterprises)

Bank’s Clarification: No

6. Whether EMD should submit along with bid or after bid submission and what are the options available for submitting the EMD amount? (M/s Magneto Clean Tech)

Bank’s Clarification: The options available for submitting EMD as per tender condition are:

I. NEFT – The amount should affect in the Bank’s account before 2.00 p.m. on 03.06.2021.

II. Demand Draft – Should reach on or before 2.00 p.m. on 03.06.2021.

III. Irrevocable Bank Guarantee – Should reach on or before 2.00 p.m. on 03.06.2021.

7. Whether it is mandatory to have service set up in Nagpur? (M/s Magneto Clean Tech)

Bank’s Clarification: Yes. Participating tenderers should necessarily have Service Setup in Nagpur.

8. Whether Banker’s certificate should be in the format as mentioned in the tender Documents? (M/s Magneto Clean Tech)

Bank’s Clarification: Yes, as per the tender Section III of clause 3.1. (iv) as mentioned in page no.21 of Part I of the tender Document, tenderer should submit “Banker`s certificate of value not less than Rs.15.5 lakhs as per the pro forma given Annex-V along with technical bid”.

9. Whether client certificate is required to be submitted in the same format as mentioned in the Tender? (M/s Magneto Clean Tech)

Bank’s Clarification: Client Certificates detailing all the aspects mentioned in the Bank’s format will also be accepted.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

Press Releases

[ad_1]

Read More/Less




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


Next

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Bernstein, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


New Delhi, Paytm is on track to break even in 12-18 months with increased financial discipline and targeted strategic investments, investment research firm Bernstein said in a pre-IPO primer.

According to reports, Paytm is aiming to raise about $3 billion in an initial public offering (IPO) late this year, which could be the country’s largest debut ever.

The startup, backed by investors including Berkshire Hathway, Softbank and Ant Group, plans to list in India in November around Diwali.

Paytm, formally called One 97 Communications, is targeting a valuation of around $25 billion to $30 billion, as per reports.

“Paytm has come a long way from a simple digital wallet business to an integrated payments ecosystem. We believe the next stage of growth will be led by financial services, particularly delivering seamless credit tech products to consumers and merchants.

“With increased financial discipline (rare in the hyper-competitive payments space), Paytm is on track to break even in 12-18 months. We expect Paytm to continue being the largest payments and fintech ecosystem in India,” Bernstein said in its report.

Paytm has realigned its payments strategy around merchant payments leadership. Paytm’s beneficiary UPI market share (a proxy for merchant receipts) is rising month-on-month and was 16 per cent in April, the report said.

“Combine that with its digital wallet, merchant acquiring and online merchant payments, Paytm has a total throughput of $52 billion in FY21, up 33 per cent year on year,” it added.

Paytm’s credit tech vertical is likely to lead the next wave of revenue growth.

“We expect Paytm’s revenue base to double by FY23 to $1 billion with non-payments revenue contributing 33 per cent,” Bernstein said.

Paytm has crossed the proof of concept stage on consumer credit tech and merchant credit tech. Early disbursal numbers have been strong, rising month-on-month with strong bank and NBFC funding partners. Broking business with Paytm Money has also got off to a strong start, the report said.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , ,
1 … 12 13 14 15 16 … 100