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E-Tenders are invited from eligible contractors / firms for the captioned work estimated to cost ₹6.44 lakh through the MSTC portal. The close bid date is 21.06.2021 at 1400 hrs. NIT Number and Timeline is given below,
Any amendments / corrigendum to the tender, if any, issued in future will only be notified on the RBI Website / MSTC Website and will not be published in the newspaper. Brij Raj |
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On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh from the DICGC.
Giving details, the RBI said the bank does not have adequate capital and earning prospects and as such, it does not comply with the certain provisions of the Banking Regulation Act, 1949.
“The continuance of the bank is prejudicial to the interests of its depositors,” it said, adding that the bank with its financial position would be unable to pay its present depositors in full.
While cancelling the licence, effective close of business hours on Monday, the RBI said public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
The Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator.
The release further said consequent to the cancellation of its licence, Shivajirao Bhosale Sahakari Bank is prohibited from conducting the business of banking, including acceptance of deposits and repayment of deposits, with immediate effect.
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Barring negative net worth, there are not any adverse remarks, either in the statutory audit or RBI annual inspection, a statement issued by the bank said.
Rupee Co-operative Bank has been granted an extension for its banking license by the Reserve Bank of India (RBI) for another three months up to August 31, 2021. Till March 2021, the bank made total recovery of Rs 263.93 crore and aggregate operating profit of Rs 70.70 crore during the last five years.
The bank is earning profit consecutively for the last five years. Till March-2021, bank had paid Rs 366.54 crore to 92602 depositors under the Hardship Scheme.
Barring negative net worth, there are not any adverse remarks, either in the statutory audit or RBI annual inspection, a statement issued by the bank said.
The proposal for merger with Maharashtra State Co-Op Bank, (MSC Bank) is pending with the RBI, Sudhir Pandit, chairman, board of administrators, Rupee Cooperative Bank, said.
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These funds are open ended debt schemes that invest in securities with a duration of between one and three years. So, investors with an investment horizon of few years, can park their funds in the category.
Feature of short duration debt funds:
1. Highly liquid, can withdraw at a notice of one day.
2. Returns are more or less comparable to bank fixed deposits.
Now here we list some of the best short duration debt funds:
This is a 5-star rated fund with an expense ratio of 0.3 percent. The fund has over 68 percent investment in very low risk securities while over 27 percent is parked in government securities. SIP in the fund can be started for Rs. 1000 and for lump sum investment, one needs to dole out a minimum sum of Rs. 5000.
The benchmark for the fund is CRISIL10 year gilt index and 1-year return from the fund has been at 7.5 percent.
This is again a 5-star rated fund with expense ratio at 0.39 percent. The fund’s allocation of 95% is parked in debt securities. The SIP in the fund can be started for Rs. 1000 while minimum lump sum investment is Rs. 5000. Risk grade is below average and return grading is high for the fund category. Against its benchmark the fund has delivered a 1-year retun of 8.27%.
It is again a 4-star rated fund with expense ratio at 0.24%. SIP in the fund could be made for Rs. 500 while lump sum investment has to start at Rs. 5000. The fund against the category average return of 7.63 percent has offered a 1-year return of 8.17
1. In case of long term holding i.e. if the debt fund is held for over 3 years then gains are taxed at 20 percent after providing for indexation benefit.
2. For short term capital gains, when the units are redeemed before 3 years then the gains are added to individual’s income and taxed as per his or her slab.
Dividend
Dividend if any are added to investors total income and taxed as per their tax slab. Note dividends over Rs. 5000 in a year attracts at the rate of 10 percent, which is deducted by the fund house
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