Month: May 2021

Reserve Bank of India – Tenders

Tenders

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Regional Director, Reserve Bank of India, Chandigarh invites e-Tender through MSTC for supply of sufficient number of fully covered container trucks/vehicles for transportation of Coins from RBI, Chandigarh to various currency chests and other places in the States of Punjab, Haryana, Himachal Pradesh & U.T. Chandigarh. The period of contract will be initially for Nine months i.e. from July 01, 2021 to March 31, 2022 and extendable for 2 more years (for one year at once) on satisfactory performance & mutual agreement. The e-Tender along with the detailed tender notice is available at MSTC site https://www.mstcecommerce.com/eprochome/rbi and the website of the RBI at https://www.rbi.org.in under the menu “Tenders”.

2. All interested bidders must register themselves with MSTC through the above referred website to participate in the e-Tendering process.

3. The estimated cost of the work is ₹23 lakh (approx.), however the actual amount may vary.

4. The schedule for the e-Tendering process is as under:

e-Tender Schedule Schedule Date
e-Tender view date at MSTC website 17.05.2021 (Monday) onwards
Offline Pre- Bid Meeting (optional) 24.05.2021 (Monday, 12.00 hrs)
Start Bid Date 17.05.2021 (Monday) onwards
Last date of submission of EMD 14.06.2021 (Monday, 14:00 hrs)
Last date of submission of e-Tender 14.06.2021 (Monday, 14:00 hrs)
Date of opening of Part-I (Technical Bid) 14.06.2021 (Monday, 16:00 hrs)

5. The Part-II i.e. price bid will be opened on the same day or at a later date as intimated by the Bank in respect of only those contractors/bidders who satisfies all criteria stipulated in Part-I. The Bank reserves the right to accept or reject any or all e-Tenders without assigning any reasons thereof.

Note: All the tenderers may please note that any amendments / corrigendum to the e-Tender, if issued in future, will only be notified on the RBI and MSTC Website as given above and will not be published in the newspaper.

Regional Director
Chandigarh

May 17, 2021

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Lockdown impact on NBFCs’ asset quality to be evident gradually: RBI

Banking & Finance

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As Non-Banking Financial Companies (NBFCs) have continued to disburse credit despite the pandemic, the impact of the lockdown will be evident on their asset quality gradually, said an article in the RBI’s monthly bulletin.

“NBFCs continued to disburse credit despite disruptions caused by the pandemic, albeit at a slower pace,” said the article titled ‘Performance of NBFCs during the Pandemic: A Snapshot’.

Credit performance

Incremental credit flows (on year-on-year basis) to the retail sector continued to increase in the second and third quarter of 2020-21, but at a slower pace, while services sector saw marginal increase in the third quarter last fiscal, wherein vehicle loans, gold loans, transport and tourism were the beneficial segments.

However, incremental credit to industries declined in the same period as the sector is yet to shake off the impact of the pandemic, it further noted.

“Agriculture was the bright spot with the highest growth in disbursements in the third quarter of 2020-21, however, it could be partly attributable to a favourable base effect,” the article said.

Significantly, the share of industry in the sectoral deployment of credit by NBFCs was at 61.6 per cent as on December 2020 compared to 67.4 per cent in December 2019. The share of retail loans increased to 24.5 per cent as on December 2020 from 21 per cent a year ago.

“Asset quality of NBFCs witnessed improvement in 2020-21 so far, compared to the fourth quarter of 2019-20, due to regulatory forbearance,” it said.

However, Gross Non-Performing Asset (GNPA) ratio of NBFCs was elevated in the first and second quarter of 2020-21 compared to the corresponding period in 2019-20 but in the third quarter of 2020-21, both GNPA and NNPA ratios fell compared to the third quarter of 2019-20.

“Nevertheless, the true extent of NPAs in the sector may be gauged in the upcoming quarters as the interim order by the Supreme Court on asset classification standstill was lifted in March 2021,” the article further said. Among sectors, industry witnessed sequential reduction in their GNPA ratio while GNPA ratio of retail loans remained low compared to other sectors.

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‘Second wave not a big blow to economic activity in first half of Q1’

Banking & Finance

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The resurgence of Covid-19 has dented but not debilitated economic activity in the first half of Q1 (April-June) FY22, according to an article in the Reserve Bank of India’s latest monthly bulletin.

Loss of momentum

Although extremely tentative at this stage, the central tendency of available diagnosis is that the loss of momentum is not as severe as at this time a year ago, it added.

“The ferocity of the second wave has overwhelmed India and the world. War efforts have been mounted to stop the second surge in its tracks,” according to the article, ‘State of the Economy’, put together by 18 RBI officials, including Deputy Governor MD Patra.

They estimated that real economy indicators moderated through April-May 2021 as many States imposed restrictions to arrest the renewed surge in infections.

The authors observed that the biggest toll of the second wave is in terms of a demand shock – loss of mobility, discretionary spending and employment, besides inventory accumulation, while the aggregate supply is less impacted.

Impact of new infections

The authors opined that the impact of the new infections appears to be U-shaped. Each shoulder of the U represents sectors that are weathering the storm – agriculture at one end and IT on the other.

“On the slopes of the U are organised and automated manufacturing on one side and on the other, services that can be delivered remotely and do not require producers and consumers to move.

“These activities continue to function under pandemic protocols,” the article said.

According to the authors, in the well of the U are the most vulnerable – blue collar groups who have to risk exposure for a living and for rest of society to survive.

The aforementioned groups include doctors and healthcare workers; law and order; and municipal personnel; individuals eking out daily livelihood; small businesses, organised and unorganised – and they will warrant priority in policy interventions.

The authors underscored that: “It is in this direction that the Reserve Bank, re-armed and re-loaded, has stepped out. This is the beginning. There is more work to be done.”

As per the article, the data show that the wave is shifting from big cities to small towns and villages where testing is low and health infrastructure poor, and this is where the country must refocus our efforts and energies to put down the virus.

“The key lesson from the visitation of the second wave is vaccinate, vaccinate, vaccinate…The road ahead is fraught with danger, but India’s destiny lies not in the second wave, but in life beyond it,” said the authors.

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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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Reserve Bank of India – Tenders

Tenders

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Reserve Bank of India (RBI) invites tenders for empanelment of vendors for supply, installation, maintenance of Computer Hardware, Peripherals and Application Software Development at Reserve Bank of India 2021-23. The RFP document for the project is hosted on MSTC Limited website.

Steps to be performed by the bidder:

  1. Bidder needs to register themselves on the MSTC website (https://www.mstcecommerce.com/eprochome/rbi/). Vendor registration manual is present on MSTC website. Bidder needs to have valid Digital Certificate with signing and encryption rights. The bidders are requested to ensure that they have the same, well in advance. For any assistance for bidding purpose, bidder can contact MSTC e-Procurement team directly (Ms. Archana, Assistant Manager, MSTC, +91-9990673698/022-22872011).

  2. Post successful registration, Bidder can access the RFP document and related annexures.

  3. Bidder can upload their respective bids on the above mentioned MSTC portal. It is to be noted that Bidders will be able to view and access their own bids only.

  4. The last date for submission of bids is June 07, 2021; (Monday) at 14:30 hrs. on the MSTC website.

Chief General Manager
Department of Information Technology

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Private Vs Public Vs Small Finance Banks: Interest Rates On Tax Saving FDs Compared

Personal Finance

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Investment

oi-Vipul Das

|

Five-year tax-saving fixed deposits (FDs) have not only guaranteed higher returns and liquidity, but also the ability to plan your tax-saving goals accordingly. You can take advantage of the section 80C tax exemption by investing in these FDs. Section 80C of the Income Tax Act allows for tax deductions on investments up to Rs 1.5 lakh. Premature withdrawals are not permitted from tax-saving FDs, which have a five-year lock-in duration. Despite the fact that bank FD rates have sunk to historically low levels, some banks still pay competitive interest rates. Smaller private banks are now offering tax-saving FDs with interest rates as high as 6.75 percent. RBL Bank pays 6.6 percent interest on five-year tax-saving FDs, while DCB Bank and Yes Bank pay 6.75 percent interest on tax-saving deposits for instance. These rates are higher than those offered by major public sector banks on tax-saving FDs. Leading private sector banks such as Axis Bank, ICICI Bank, and HDFC Bank, on the other hand, pay 5.75 percent, 5.35 percent, and 5.30 percent interest on tax-saving FDs, respectively. Union Bank of India, on the other side, provides the highest rate of 5.55 percent on a 5-year tax-saving FD, led by Canara Bank and State Bank of India (SBI), which pay 5.50 percent and 5.40 percent interest on tax-saving FDs among the leading public-sector banks, respectively. On tax-saving FDs, Bank of Baroda is paying 5.25 percent interest. Here’re the top 5 public, private and small finance banks that are currently providing higher interest rates on tax-saving FDs.

Tax Saving FDs of Private Sector Banks

Tax Saving FDs of Private Sector Banks

Below are the top 5 private sector banks which are currently providing higher returns on 5-year tax-saving FDs on deposit amount of less than Rs 2 Cr.

Banks Regular FD Rates Senior Citizen FD Rates W.e.f.
Yes Bank 6.75% 7.50% May 10, 2021
RBL Bank 6.60% 7.10% May 7, 2021
DCB Bank 6.50% 7.00% May 15, 2021
IndusInd Bank 6.50% 7.00% April 26, 2021
City Union Bank 6.00% 6.00% December 16, 2020
Source: Bank Websites

Tax Saving FDs of Public Sector Banks

Tax Saving FDs of Public Sector Banks

Here is a list of top 5 public sector banks which are currently offering higher interest rates on 5-year tax-saving FDs on deposit amount of less than Rs 2 Cr.

Banks Regular FD Rates Senior Citizen FD Rates W.e.f.
Union Bank 5.60% 6.10% December 15, 2020
Canara Bank 5.50% 6.00% February 8, 2021
State Bank of India 5.40% 6.20% January 8, 2021
Bank of India 5.30% 5.80% January 10, 2020
Bank of Baroda 5.25% 6.25% November 11, 2020
Source: Bank Websites

Tax Saving FDs of Small Finance Banks

Tax Saving FDs of Small Finance Banks

For a deposit amount of less than 2 Cr, here are the top 5 small finance banks giving higher interest on tax-saving FDs.

Banks Regular FD Rates Senior Citizen FD Rates W.e.f.
Utkarsh Small Finance Bank 6.75% 7.25% October 19, 2020
Equitas Small Finance Bank 6.65% 7.15% 25.01.2021
Suryoday Small Finance Bank 6.50% 7.00% 15.02.2021
AU Small Finance Bank 6.50% 7.00% 1 April, 2021
North East Small Finance Bank 6.25% 6.75% April 19, 2021
Source: Bank Websites

Note

Note

Customers’ deposits in a bank are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) which is a wholly-owned subsidiary of the Reserve Bank of India. All types of banks except company deposits are included under DICGC. In a scheduled bank, the deposits are covered up to Rs. 5 lakh for both principal and interest under DICGC. As a result, investing in a tax-saving FD scheme offered by any of the banks mentioned above will not only help you to earn higher returns but also secure your money.



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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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Reserve Bank of India – Tenders

Tenders

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E Tender No: RBI/Ahmedabad/Issue/27/20-21/ET/760

Reserve Bank of India, Ahmedabad invites E-tender for following service:

Sr.No. Brief particulars of tender/ contract
1 Supply of adult and able bodied Mazdoors (Labourers) for handling of coin bags and note boxes.

2. The detailed information regarding the above e-tender will be available at MSTC website https://www.mstcecommerce.com/eprochome/rbi. The details of qualification criteria and the detailed notice inviting tender are also available at the corporate website of the Bank https://www.rbi.org.in. The tendering would be done through the e-tendering portal of M/s MSTC Ltd. (https://www.mstcecommerce.com/eprochome/rbi). All interested bidders must register themselves with M/s MSTC Ltd. through the above referred website to participate in the e-tendering process.

3. The last date for submission of online bids is June 07, 2021 upto 12.00 hrs and the Part-I of the bids will be opened on the same day at 15:30 hrs. The Part II i.e. price bids will be opened in respect of only those contractors/bidders who satisfies all criteria stipulated in Part I.

4. The schedule for the e-tendering process is as under:

E-Tender Schedule Schedule Date and time
Availability of NIT for viewing May 17, 2021 from 12.00 hrs to June 07, 2021 upto 12.00 hrs.
Pre-Bid meeting May 24, 2021 at 15:30 hrs
Period of bidding online May 17, 2021 from 12.00 hrs to June 07, 2021 upto 12.00 hrs.
Date of opening of Part I June 07, 2021 at 15.30 hrs

5. The Bank reserve the right to accept or reject any or all e-tenders without assigning any reason thereof.

Note: All the tenderers must note that any amendments / corrigendum to the e-tender, if issued in future, will only be notified on the website of RBI and MSTC Ltd as given above and will be not published in the newspaper.

Regional Director
Reserve Bank of India
Gujarat and UT of Daman & Diu and Dadra & Nagar Haveli

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Reserve Bank of India – Press Releases

Press Releases

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A. Source Security 8.08% GS 2022 6.84% GS 2022 8.83% GS 2023 7.68% GS 2023 5.09% GS 2022 7.32% GS 2024 8.15% GS 2022 8.08% GS 2022 7.37% GS 2023 8.83% GS 2023
B. Notified Amount (amount in ₹ cr) 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000
Destination Security/ies 6.76% GS 2061 6.76% GS 2061 6.76% GS 2061 6.76% GS 2061 GOI FRB 2033 GOI FRB 2033 6.64% GS 2035 6.64% GS 2035 6.64% GS 2035 6.64% GS 2035
 C. i. No. of offers received 1 4 9 3 31 11 5 4 9 12
ii. Total amount of Source Security offered (Face value in ₹ cr) 75.000 47.384 625.000 445.000 5,835.000 2,820.000 1,075.000 1,160.000 543.618 725.000
iii. No of offers accepted 0 0 0 0 2 3 0 0 0 0
iv. Total amount of source security accepted (Face value in ₹ cr) 0 0 0 0 2000 1300 0 0 0 0
v. Total amount of destination security issued (Face value in ₹ cr) NA NA NA NA 2046.689 1399.027 NA NA NA NA
vi. Cut-off price/yield for destination security NA NA NA NA 98.83/4.8554 98.95/4.8422 NA NA NA NA

Ajit Prasad
Director   

Press Release: 2021-2022/222

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