Reserve Bank of India – Tenders

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Reserve Bank of India, Mumbai invites E-tenders for the captioned work, from eligible vendors/contractors those who are having Directorate of Maharashtra fire services authorities valid license for providing man power and support services for Operation and Maintenance of Wet Riser system for Bank`s Main office building & Amar building at Fort, RBI, Mumbai and to submit the required documents i.e., Form-B every six months. The initial period of contract will be one year as per laid down contractual obligations. The work is estimated to cost Rs. 13.26 Lakh all-inclusive taxes per Annum.

1. Online Tenders by e-tendering process are invited for above work at Bank’s Main office building & Amar building at Fort, RBI, Mumbai. The e-tender is to be submitted through the website www.mstcecommerce.com. The work is estimated to cost Rs. 13.26 lakhs all –inclusive taxes per annum and is to be completed within 90 days.

2. The intending tenderer must have Directorate of Maharashtra fire services authorities valid license and experience in Similar works such as Maintenance of wet Riser and Fire Fighting System for office buildings/residential premises. The contractors should have Fire Authorities valid license minimum up to the contract period.

3. Online Tenders will be available to view/download for all firms from 05:00 PM on -15.06.2021 but only those contractors who have minimum 5 years’ experience in the field of undertaking similar works of wet riser system works, maintenance services and during last 5 years (works completed on or after May 31, 2016) and have executed successfully similar works individually costing as under:

(a) Three works each costing not less than 40% of Rs. 13.26 Lakh

OR

(b) Two works each costing not less than 50% of Rs. 13.26 Lakh

OR

(c) One work costing not less than 80% of Rs. 13.26 Lakh

AND

(d) Have a minimum yearly turnover of 100% of the Rs. 13.26 Lakh during the last 3 financial years

AND

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

(f) Should have valid license copy issued by Maharashtra Fire Services.

The required documents evidencing compliance of all the above criteria (Pre-Qualification Papers) shall be submitted by the firm on or before July 6, 2021 by 05:00 PM at Fort Office Estate Cell or by email to anandmahadevan@rbi.org.in and abhayjoshi@rbi.org.in

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.
(h) Details of Service setup Address and contact details of the service set up at the place of proposed work place i.e., Mumbai for rendering after sales service.
(i) Registration proofs* ESI, EPF, Labor laws, GST registration (*All the applicable bidders shall submit the copy of registration and if not applicable, an undertaking may be given for the same. All the bidders should give an undertaking /declaration in attached format.
(j) Electrical contractor License Electrical contractor license issued by the PWD/competent authority shall be furnished.
(k) Maharashtra state fire services department Local Authority /competent authority shall 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 05:00 PM on 15.06.2021. A pre-bid meeting of the eligible bidder (who meets the PQ criteria) will be held on 13.07.2021 at 11:00 AM in the Bank’s Office Building, Estate Cell, Fort Office, Mumbai

The Pre-Qualification papers super scribed as “Pre-Qualification documents for Annual Maintenance Contract for Operation and Maintenance of Wet Riser system for Bank`s Main office building & Amar building at Fort, RBI, 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 July 6, 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 July 6, 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 July 6, 2021 till 05:00 PM.

6. An EMD of Rs. 26,520/- (Twenty Six Thousand Five hundred twenty Only) shall be submitted by the eligible tenderer on or before July 22, 2021 by 02:00 PM in the form and manner as prescribed in the Part-I of the tender.

7. 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 July 22, 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:

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

  2. 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 July 6, 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/Estate/516/20-21/ET/803
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 15.06.2021 from 05:00 PM onwards
d. Pre-Bid meeting 11:00 AM on 13.07.2021 at 2nd Floor, Estate Cell, Fort Office, Mumbai 400001
e. Earnest Money Deposit ₹ 26,520/- (Rupees Twenty Six Thousand Five hundred twenty only) by NEFT or in the form of DD on or before 2:00 PM on July 22, 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 July 22, 2021 till 2.00 PM
g. Last date of submission of Pre-Qualification (PQ) papers July 06, 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 June 15, 2021 from 05:00 PM onwards
i. Date of closing of online e-tender for submission of Techno-Commercial Bid & Price Bid July 22, 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.

July 22, 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

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The Reserve Bank of India vide directive DoS.CO.UCBs-West/D-1/12.07.157/2019-20 dated June 15, 2020 had placed Karnala Nagri Sahakari Bank Ltd., Panvel, Raigad, Maharashtra under Directions from the close of business on June 15, 2020 for a period of six months. The validity of the directions was extended vide Directive DOR.AID/D43/12.22.365/2020-21 dated December 14, 2020 up to June 15, 2021.

2. It is hereby notified for the information of the public that Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till August 15, 2021 as per the directive DOR.AID/D-16/12.22.365/2021-22 dated June 15, 2021, subject to review.

3. All other terms and conditions of the Directive under reference shall remain unchanged. A copy of the directive dated June 15, 2021 notifying the above extension is displayed at the bank’s premises for the perusal of public.

4. The aforesaid extension and /or modification by Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/368

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Reserve Bank of India – Press Releases

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The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹6.00 lakh (Rupees Six Lakh only) on the Bijnor Urban Co-operative Bank Limited, Bijnor (the bank) for contravention of sections 20 and 35A read with section 56 of the Banking Regulation Act, 1949 and regulations on ‘Guarantees, co-acceptances and letters of credit’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid provisions of the Act and directions issued thereunder by RBI.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The inspection report of the bank based on its financial position as on March 31, 2019, revealed, inter alia, that the bank failed to adhere to the provisions related to prohibition on director related loans and issue of performance guarantee. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for violation of the said directions.

After considering the bank’s written reply and oral submissions made by the bank during personal hearing and subsequent additional submissions, RBI came to the conclusion that the aforesaid charge of non-adherence/violation of provisions of the Act and directions issued thereunder by RBI was substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/367

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Reserve Bank of India – Tenders

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E-Tender Event No.: RBI/Ahmedabad/Ahmedabad/25/20-21/ET/730

Reserve Bank of India, Estate Department, Ahmedabad had invited E-tenders from Bank’s empanelled vendors for Annual Maintenance Contract for arranging and providing services of Plumbers and Carpenters for carrying out day-to-day Carpentry and Sanitary & Plumbing Maintenance / Repair Works at Bank’s Various Properties in Ahmedabad. In this connection, please refer to the tender notice for the captioned tender published on Bank’s website www.rbi.org.in on April 26, 2021 inviting applications for above tender.

In this regard, it has been decided to cancel the tender process and float a new tender. Timelines for the new tender would be uploaded on RBI website (https://www.rbi.org.in/Tenders) and MSTC website (https://www.mstcecommerce.com/eprochome/rbi) in due course of time.

Regional Director
Gujarat, Daman & Diu and Dadra & Nagar Haveli

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Deutsche Bank to hire over 3,000 techies this year

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Deutsche Bank will hire over 3,000 techies this year to strengthen its technology centres in India, Russia, Romania and the US.

The bank would hire over 1,000 people in India including 300 engineering graduates of various disciplines from 30 different campuses of NITs and IITs. These freshers are expected to come on board in July.

Also read: Deutsche Bank to lend ₹600 crore to NCDC

The bank has recently streamlined its global technology development landscape (which contained over 20 big, small and fragmented tech talent groups in over 60 countries) to ramp up focus through key tech locations such as Pune, Bengaluru, Moscow, St. Petersburg, Bucharest and Cary.

The company said it was consolidating teams where focused development of technology was going to come from, in the future.

As part of Deutsche Bank’s €13-billion digital transformation journey between 2019 and 2022, the bank is currently in the process of replacing its legacy IT systems with modern processes.

Dilipkumar Khandelwal, Global Chief Information Officer for Corporate Functions and Global Head of Technology Centres at Deutsche Bank told BusinessLine, “Retiring duplicated and outdated applications is estimated to deliver over €150 million of annual cost savings globally for Deutsche Bank by the end of 2022.”’

“Modernisation will mean we increasingly develop standard applications that can be used across the bank, not just in one business. We are also working to harmonise our data into a ‘single source of truth’ across the bank,” he said.

Deutsche Bank is also replacing its global pricing engine for emerging market currencies in London with one in Singapore, drawn by surging trading in Asia and the increasing importance of the Chinese yuan.

“Setting up a new and more powerful global pricing engine in the city-state will help the bank save vital fractions of seconds from the time it takes to execute orders in the region,” Khandelwal added.

The bank was looking at creating new business models leveraging artificial intelligence, data analytics, and more, with tech partner, Google.

“For example, new lending products will support “pay-per-use” models as an alternative to purchasing assets outright (asset-as-a-service),” he elaborated.

According to Khandelwal, digital transformation has enabled banks to leapfrog technology progress by investing and integrating modern solutions such as cloud and automation. This infrastructure also supported intelligent use of the data available within the bank to create better insights and decision-making.

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Reserve Bank of India – Press Releases

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The Reserve Bank of India (RBl) has imposed, by an order dated June 14, 2021, a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the National Urban Co-operative Bank Limited, New Delhi (the bank) for contravention of section 36 (1) read with section 56 of the Banking Regulation Act, 1949 as the bank failed to adhere to specific directions issued to it by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Background

The inspection report of the bank based on its financial position as on March 31, 2019, revealed, inter alia, non-adherence/violation of specific directions issued to the bank by RBI under Supervisory Action Framework (SAF). Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for violation of the said directions.

After considering the bank’s reply, RBI came to the conclusion that the aforesaid charge of non-adherence/violation of RBI directions was substantiated and warranted imposition of monetary penalty.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/366

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Grant Thornton Bharat onboards Jaikrishnan G. as Partner, Financial Services Consulting, BFSI News, ET BFSI

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In a recent announcement, Grant Thornton Bharat declared the fresh onboarding of Jaikrishnan G. as Partner, Financial Services Consulting. He is required to amplify the firm’s global presence by working with leaders worldwide and actively pursuing international opportunities in the financial services space.

“Jaikrishnan comes with two decades of experience in the financial services space, advising large NBFCs, banks and fintech companies. Having worked across large transformation engagements, Jaikrishnan brings global consulting exposure and Indian market experience to our firm. His extensive experience in this space will enable us to deliver more comprehensive and holistic service solutions to our clients.” said Vishesh Chandiok, CEO, Grant Thornton Bharat.

Jaikrishnan has led engagements for setting up several banking and non-banking organisations from inception to being operational. He has also worked with large family-run businesses, advising them on investment and diversification strategies. He is an advisor to the board of directors of several start-ups in the fintech, edutech and social development space.

“I am excited to take on this new responsibility and will focus on the strategic growth and transformation projects for clients in the banking and financial services sector.” added Jaikrishnan.



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BCG, BFSI News, ET BFSI

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Financial wealth and people’s lives during the pandemic are inversely related to each other. According to a new report by Boston Consulting Group (BCG), financial wealth in India grew by 11% p.a. to USD 3.4 trillion from 2015 to 2020. In line with the emerging economic recovery, the report reveals growth in prosperity and wealth significantly through the crisis and is likely to expand in the next five years. India is expected to lead a percentage growth of fortunes worth $100 million in 2025.

Ashish Garg, a member of Boston Consulting Group’s Center for Digital Government, and a core member of the Financial Institutions and Public Sector practices said, “The next five years have the potential to usher in a wave of prosperity for individuals and wealth managers alike. They now have a chance to put that perspective into practice in their own work and pursue a client agenda. The report lays out what it takes to attract and retain clients and serve them in a competitively sustainable way.”

The report, titled ‘Global Wealth 2021: When Clients Take the Lead’ states that India represents 6.5% of the region’s financial wealth in 2020. 13.7% were the region’s real assets in 2020 which grew from 2015 to 2020 by 12.1% p.a. to USD 12.4 trillion. Liabilities grew by 13.3% p.a. to USD 0.9 trillion and Liabilities are expected to grow by 9.4% p.a. to USD 1.3 trillion by 2025. Bonds are expected to grow the fastest with 15.1% p.a. Life Insurance and Pensions will be the 3rd largest asset class in the future.

According to the report, North America, Asia (excluding Japan), and Western Europe will be the leading generators of financial wealth globally, accounting for 87% of new financial wealth growth worldwide between now and 2025.

Embracing fresh options

With the aim of earning higher returns than usual, many wealth management clients shifted away from low-yield debt securities in 2020. Hence, real assets, led primarily by real estate ownership, reached an all-time high of $235 trillion. Nevertheless, Asia, which has the largest concentration of wealth in real assets ($84 trillion, 64% of the regional total) will see financial asset growth exceed real asset growth (7.9% versus 6.7%) in coming years. In particular, investment funds in the region will become the fastest-growing financial asset class, with a projected compound annual growth rate (CAGR) of 11.6% through 2025, according to the report.

Attractive segments

The report talks about three market opportunities and segments for wealth managers. One consists of individuals with simple investment needs and financial wealth between $100,000 and $3 million. This “simple-needs segment” comprises 331 million individuals worldwide, holds $59 trillion in investable wealth, and has the potential to contribute $118 billion to the global wealth revenue pool.

“Wealth managers often underserve those in the simple-needs segment with a standardized set of products, and the result is a poor client experience with no “wow” factor. This is essentially a missed opportunity. To better serve this key segment, wealth managers must embrace a new approach that lets them reach a larger audience in a cost-effective and scalable way, but with a highly personalized offering.” said Anna Zakrzewski, a BCG managing director and partner, global leader of the firm’s wealth management segment.

Retirees form the second lucrative market, according to the report. Individuals over 65 own $29.3 trillion in financial assets accessible to wealth managers. This figure is expected to grow at a CAGR of close to 7% over the next five years. By 2050, 1.5 billion people globally will fall into the 65+ category, representing an enormous source of wealth.

The third category is the “ultra” wealth category—individuals whose personal wealth exceeds $100 million—expanded in 2020, with 6000 people joining the 60,000-strong cohort, which has seen year-on-year growth of 9% since 2015. The category currently holds a combined $22 trillion in investable wealth, 15% of the world’s total.

The BCG report reveals that China is on track to overtake the US as the country with the largest concentration of ultras by the end of the decade. If investable wealth continues to rise there at its current annual rate of 13%, China will host $10.4 trillion in ultra assets by 2029, more than any other market in the world. The US will be close behind, with a forecasted total of $9.9 trillion in such wealth by 2029.

“High-growth markets represent a massive opportunity, but wealth managers must build a genuine understanding of local differences and also key demographic changes.” said BCG’s Zakrzewski. “For example, women now account for 12% of ultras, most of whom are based in the US, Germany, and China. The next-gen segment is also going to be an influential driver of future growth in the next decade or so. Whether it’s a simple-needs or ultra-high-net-worth client, managers need to offer a personalized service in order to effectively capture the next wave of growth.”



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Travel, tourism, retail may be the next bad loan fronts for Indian banks, BFSI News, ET BFSI

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As banks were clearing off the bad assets in their corporate loan cupboards, they may be staring at another bout of bad loans.

This time the stress is emerging from retail loans, which have been the banks’ mainstay for the last few years as corporate loans declined. The contact intensive travel and aviation sectors are also likely to give pain to banks if the Covid situation worsens.

Loans to travel and hospitality

As of April 23, 2021, banks loans to tourism, exports and restaurants stood at Rs 50,395 crore as against Rs 47,101 crore a year earlier, a rise of 7 per cent. The growth rate was less than half of the 18 per cent jump in the previous 12 months.

The total bank loans to the aviation sector as of April 23, 2021, stood at Rs 26,309 crore, up 8.2% year on year.

Retail loans

There has been a “sharp decline” in collection efficiencies in retail asset pools across asset classes in May due to the second wave of the pandemic, with microlenders witnessing a dip of up to 20 per cent, a report said on Monday.

ICRA has observed a sharp decline in the collections of its rated securitisation transactions in April 2021 (i.e. May 2021 payouts), following the rise of Covid cases and imposition of lockdowns/movement restrictions which has impacted the operations and collection activities of the NBFCs and HFCs,” the report from domestic rating agency ICRA said.

The microfinance entities have witnessed the highest decline in collection efficiencies, pointing out that repayments of advances and overdue collection were lower by 20 per cent for April when compared with March.

The agency added that collections for SME loan pools and commercial vehicle loan pools also fell significantly from the heights achieved in March 2021.

Housing loans and loans against property have remained the least impacted and most resilient as was seen last fiscal given the association of the borrower with the underlying collateral and the priority given by borrowers to repay such loans, it said.

RBI measures

The Reserve Bank of India (RBI) has created a special liquidity window of Rs 15,000 crore with a tenor of 3 years at the repo rate to provide liquidity support to the contact-intensive sectors hit by Covid-19.

The special liquidity window encourages banks to provide fresh lending support to hotels, restaurants, tourism, aviation ancillary services, and other services including private bus operators, car repair services, rent-a-car service providers, event/conference organisers, spa, clinics, and beauty parlours/saloons.

These sectors have seen the biggest impact due to the second wave as authorities started imposing lockdown measures to curb the spread of the virus



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Reserve Bank of India – Tenders

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Please refer to the tender notice event No. RBI/Chandigarh/Issue/26/20-21/ET/754 for the subject published on the Bank’s website www.rbi.org.in on May 17, 2021, inviting “e-Tender for transportation of Coins Bags for the period July 01, 2021 to March 31, 2022 at Reserve Bank of India, Chandigarh”.

2. In this connection, it is hereby informed that the last date for submission of bids has been extended up to 10:00 Hrs on June 22, 2021. The bids will be opened at 11.00 Hrs on June 22, 2021.

All other terms and conditions mentioned in the tender remain unchanged.

Date: 15.06.2021

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