Reserve Bank of India – 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

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Jul 19, 2021 Corrigendum – Construction of Office Building for RBI at Atal Nagar, Naya Raipur, Chhattisgarh Jul 23, 2021 103 kb Jul 19, 2021 Corrigendum – Annual Maintenance Contarct of Pest Control & Sanitization Services at Banks Residential Colonies and Offices of Reserve Bank of India, Mumbai Jul 26, 2021 PDF document 466 kb Jul 19, 2021 Consultant for Manpower Assessment/Planning – Issuance of RFP to shortlisted consultants Aug 10, 2021 PDF document 119 kb Jul 16, 2021 Electrical Installation Work in connection with Renovation of Community Hall in Reserve Bank of India Staff Quarters at Osborne Road at Bengaluru Aug 17, 2021 PDF document 525 kb Jul 16, 2021 Minutes of Pre-bid Meeting – Supply, installation, testing & commissioning (SITC) of 160 KVA Diesel Generator Set with AMF Panel and Acoustic Enclosure for R.B.I Shillong Jul 23, 2021 PDF document 160 kb Jul 16, 2021 Cancellation of Non-Deposit taking NBFC license and Cancellation of CoRs during August 2020 – June 2021, Hyderabad Jul 26, 2021 PDF document 162 kb Jul 16, 2021 SITC of full height dual lane Turnstile at Main Office Building and full height single lane Turnstile at Additional Office Building, Reserve Bank of India, Kanpur Aug 23, 2021 PDF document 127 kb Jul 16, 2021 Annual Maintenance Contract for Carpentry works in Reserve Bank of India, Main Office Premises and RBI Officers’ Quarters, G.S. Road, Guwahati Aug 12, 2021 PDF document 776 kb Jul 15, 2021 Part renovation work in Two flats of Bank’s senior officers’ colony, Dhanastra, Mumbai Aug 06, 2021 PDF document 196 kb Jul 15, 2021 DSITC of Microprocessor Based Security Alarm System for Bank’s Main Office Building, Reserve Bank of India, Kanpur Aug 17, 2021 PDF document 126 kb Jul 14, 2021 Application for Empanelment of Architects for works A) Estimated to cost upto ₹ 50 Lakh B) Estimated to cost more than ₹ 50 lakh upto ₹ 100 Lakh, Bhubaneswar Aug 23, 2021 PDF document 642 kb Jul 14, 2021 Minutes of Pre-bid Meeting – Annual Maintenance Contract for Operation and Maintenance of Wet Riser system for Bank`s Main office building & Amar building at Fort, RBI, Mumbai Jul 22, 2021 PDF document 175 kb Jul 13, 2021 Request for Proposal to engage media buying/advertising agency/ies, Mumbai Aug 02, 2021 PDF document 483 kb Jul 12, 2021 Selection of Venders for Scientific Preservation of Paper Records at the RBI Archives, College of Agricultural Banking, Pune Aug 02, 2021 PDF document 593 kb Jul 09, 2021 Civil Renovation Works of corridor in 1st floor of MOB, RBI Kanpur Aug 25, 2021 PDF document 204 kb Jul 09, 2021 Providing Facilities Management Services (Washroom Cleaning) at Office Buildings of Reserve Bank of India, Mumbai Aug 18, 2021 PDF document 798 kb Jul 08, 2021 Minutes of Pre-bid Meeting – Installation and Maintenance of Coffee/Tea Vending Machines for supply of Coffee/Tea in the Bank’s Premises, Ahmedabad Jul 22, 2021 PDF document 156 kb Jul 08, 2021 Corrigendum – Installation and Maintenance of Coffee/Tea Vending Machines for supply of Coffee/Tea in the Bank’s Premises, Ahmedabad Jul 22, 2021 PDF document 258 kb Jul 08, 2021 Minutes of Pre-bid meeting – Appointment of Structural Consultant for Design Check, Seismic Analysis and Supervising Repair, Rehabilitation & Retrofitting works of Bank’s Main Office Building (MOB) and its Annexe building, Ahmedabad Jul 23, 2021 PDF document 192 kb Jul 08, 2021 Corrigendum – Supply, installation, testing & commissioning (SITC) of 160 KVA Diesel Generator Set with AMF Panel and Acoustic Enclosure for R.B.I Shillong Jul 23, 2021 PDF document 182 kb Jul 07, 2021 Renovation of Bank’s Officers’ Flats (4 Nos. Grade ‘A’) at Tilak Nagar, Kanpur Aug 17, 2021 PDF document 103 kb Jul 07, 2021 Provision of Modular Kitchen cabinets in Bank’s Officer’s Flats (04 Nos. Grade ‘A’) at Tilak Nagar, Kanpur Aug 17, 2021 PDF document 179 kb Jul 07, 2021 Annual Maintenance Contract for Plumbing and Sanitary Works at RBI Officers’ Colony, Christian Basti, GS Road, Guwahati Jul 28, 2021 PDF document 936 kb Jul 06, 2021 Corrigendum – Opening of RFP documents – Request for Proposal (RFP) for engagement of Consultant for Comprehensive Consultancy Services for establishment of Automated Banknote Processing Centre (ABPC) Jul 20, 2021 PDF document 77 kb Jul 06, 2021 Empanelment for supply of sufficient number of fully covered closed cash vans/ closed vehicles for transport and delivery of coins, Thiruvananthapuram Jul 27, 2021 PDF document 172 kb Jul 05, 2021 Annual Maintenance Contract for Plumbing & Sanitary works and Operation & Maintenance of Pump-Motor set in Bank’s Main Office Premises (MOP) & Staff Quarters, Vidyut Marg (SQVM) at Bhubaneswar, Odisha Aug 13, 2021 PDF document 1754 kb Jul 05, 2021 Annual Maintenance Contract for Plumbing & Sanitary works and Operation & Maintenance of Pump-Motor set in Officers’ Quarters, Nayapalli (OQNP) and Staff Quarters, Baramunda (SQBM) at Bhubaneswar, Odisha Aug 13, 2021 PDF document 939 kb Jul 05, 2021 Design, fabrication, supply and fixing of open office modular workstation furniture with M.S. framework in Foreign Exchange Department, 2nd floor, Main Office Building, RBI Kanpur Aug 25, 2021 PDF document 117 kb Jul 05, 2021 Corrigendum – Last date for submission of bids – ABPC – Request for Proposal (RFP) for engagement of Consultant for Comprehensive Consultancy Services for establishment of Automated Banknote Processing Centre (ABPC) Jul 20, 2021 PDF document 78 kb Jul 05, 2021 Consultant for Review of Supervisory Models – Issuance of RFP to shortlisted consultants Jul 26, 2021 PDF document 124 kb Jul 05, 2021 Corrigendum – Electrical Renovation of 16 Nos. of Class III Flats in KNSQ, Reserve Bank of India, Kanpur Jul 26, 2021 PDF document 176 kb Jul 04, 2021 Empanelment of Suppliers/ Stockists/ Chemists/ Dealers for supply of Drugs & Medicines to Dispensaries of Reserve Bank of India at Various location in Guwahati Aug 01, 2021 PDF document 225 kb Jul 03, 2021 Corrigendum – Design, fabrication, supply and fixing of open office modular workstation furniture with M.S. framework in DOS, 1st floor, Main Office Building, RBI Kanpur Aug 23, 2021 PDF document 181 kb Jul 03, 2021 Corrigendum – Renovation (Civil & Interior) of Foreign Exchange Department (FED) at 2nd floor, MOB, RBI Kanpur Aug 23, 2021 PDF document 181 kb Jul 03, 2021 Corrigendum – Renovation of Bank’s Staff Quarters (16 Nos. Class III) at Kidwai Nagar, Kanpur Jul 26, 2021 PDF document 181 kb Jul 03, 2021 Supply, Installation, Testing, Commissioning of the Micro Processor based Security Alarm system for the Banks Main office Building at Jaipur Jul 26, 2021 PDF document 1669 kb Jul 02, 2021 Tender for Sale of Bank’s Car (Hyundai Creta SK 01 PB 2292), Gangtok Aug 09, 2021 PDF document 167 kb Jul 02, 2021 Minutes of Pre-Bid meeting & Corrigendum – Providing Integrated Facility Management Services (IFMS) at College of Agricultural Banking (CAB), Reserve Bank of India, Pune Jul 22, 2021 PDF document 183 kb Jul 02, 2021 Electrical Renovation Works for 4 Nos. of Grade ‘A’ officer flats at TNOQ Officer’s Quarters, RBI Kanpur Aug 05, 2021 PDF document 121 kb Jul 02, 2021 Construction of RCC underground sump and Elevated Service Reservoir at Bank’s Telankhedi Road Staff Quarters, Nagpur Jul 30, 2021 PDF document 2049 kb Jul 01, 2021 Construction of Office Building for RBI at Atal Nagar, Naya Raipur, Chattisgarh Jul 23, 2021 PDF document 103 kb Jul 01, 2021 Supply, installation, testing & commissioning (SITC) of 160 KVA Diesel Generator Set with AMF Panel and Acoustic Enclosure for R.B.I Shillong Jul 23, 2021 PDF document 606 kb Jul 01, 2021 Supply, Installation, testing and Commissioning of 160 no’s SMF batteries of 120 AH capacity each for Centralised UPS System at Reserve Bank of India, Hyderabad Jul 22, 2021 PDF document 1022 kb Jun 28, 2021 Renovation (Civil & Interior) of Foreign Exchange Department (FED) at 2nd floor, MOB, RBI Kanpur Aug 23, 2021 PDF document 116 kb Jun 28, 2021 Design, fabrication, supply and fixing of open office modular workstation furniture with M.S. framework in DOS, 1st floor, Main Office Building, RBI Kanpur Aug 23, 2021 PDF document 100 kb Jun 28, 2021 Supply Installation Testing & Commissioning of electrical works in proposed FED Area, RBI Kanpur Jul 29, 2021 PDF document 122 kb Jun 28, 2021 Corrigendum – Providing Integrated Facility Management Services (IFMS) at College of Agricultural Banking (CAB), Reserve Bank of India, Pune Jul 22, 2021 PDF document 97 kb Jun 24, 2021 Annual Maintenance Contract for various types of Fire Extinguishers for Central Office Building at Fort, Mumbai Jul 22, 2021 PDF document 384 kb Jun 23, 2021 Electrical Renovation of 16 Nos. of Class III Flats in KNSQ, Reserve Bank of India, Kanpur Jul 26, 2021 PDF document 121 kb Jun 22, 2021 Conducting of Electrical Safety Audit at Bank’s Main and Additional Office Building, Nagpur Jul 22, 2021 PDF document 237 kb Jun 21, 2021 Comprehensive Annual Maintenance Service Contract for Operation & Maintenance of Sewage Treatment Plant installed at Staff Quarters, Baramunda Aug 02, 2021 PDF document 997 kb Jun 21, 2021 Providing Integrated Facility Management Services (IFMS) at College of Agricultural Banking (CAB), Reserve Bank of India, Pune Jul 22, 2021 PDF document 1212 kb Jun 18, 2021 Annual Maintenance Contarct of Pest Control & Sanitization Services at Banks Residential Colonies and Offices of Reserve Bank of India, Mumbai Jul 26, 2021 PDF document 775 kb Jun 18, 2021 AMC of Direct telephone lines (including Hot lines) and Intercom Lines provided in Bank Main Office Premises and all Residential Colonies (CLOQ, TNOQ & KNSQ), Kanpur Jul 27, 2021 PDF document 136 kb Jun 18, 2021 Renovation of Bank’s Staff Quarters (16 Nos. Class III) at Kidwai Nagar, Kanpur Jul 26, 2021 PDF document 221 kb Jun 15, 2021 Annual Maintenance Contract for Operation and Maintenance of Wet Riser system for Bank`s Main office building & Amar building at Fort, RBI, Mumbai Jul 22, 2021 PDF document 2045 kb

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Reserve Bank of India – Press Releases

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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

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Reserve Bank of India – Press Releases

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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

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Mid Cap IT Firms Even Quadrupled Investors’ Wealth: 4 Reasons Why You Should Invest In Them

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1. Business line:

These companies’ are into areas where they have specialization unlike their larger peers. This gives them both a cost and competitive advantage. Say for instance, Mindtree typically caters to travel and hospitality vertical while L&T infotech has its forte in the BFSI and manufacturing space. Likewise, Coforge previously NIIT is more into offering aviation solutions.

2.	Financials:

2. Financials:

– Companies including L&T Tehnology Services have become debt free for the first time in 5 years time.

– Mindtree has posted 10% revenue growth on a sequential basis that has been the best in 3 years.

– Mphasis also has a debt to equity ratio of 0.1 as at the end of FY21.

Scope of IT industry

Scope of IT industry

IT industry is the breadwinner for millions of home in the country and with the outbreak of Covid everything has gone digital and in fact with the surging demand, IT industry in India is seeing an uptick in both hiring as well as the hike that is being offered to employees from the space.

IT spending by end users to increase to $18 billion in 2021

IT spending by end users to increase to $18 billion in 2021

As we write, Gartner, a reputed research firm has said that it expects end user spending on IT to increase to $18 billion in 2021. This is an increase of over 10% in comparison to 2020. In 2020, spending on IT services slowed, but did not decline. While some digitalization projects were stalled due to IT budget contractions and economic uncertainties in 2020, 2021 is experiencing renewed interest in rapid digitalization from end-user organizations”, said Arup Roy, research vice president at Gartner.

Notably as per the Gartner report, the IT sector comprises various areas/verticals namely consulting, business process services, infrastructure implementation and managed services, hardware support, Infrastructure as a Service (IaaS) and Application Implementation and Managed Services.So, while the spending shall see a boost for all of these areas only hardware support shall lag.

Why mid-cap IT stocks?

Why mid-cap IT stocks?

So, as there has been a case with Coforge with despite the highest exposure to tourism and aviation is making the killing with new high hit in today’s trade, a number of tailwinds are favoring it such as institutional investors and Mutual funds bet on the stock. Likewise, with their niche domain expertise, mid cap IT stocks will continue to perform well going ahead even after standing firm amid the Covid 19 times.

Disclaimer:

Disclaimer:

The views expressed in the story need not be construed as investment advice. Investors need to do their own research based on their risk profile as stock market investments are risky.

GoodReturns.in



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Equity investing: Paytm Money app gaining traction

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Paytm Money, a subsidiary of IPO-bound Paytm, has 2,08,000 equity trading accounts as of March 31, 2021. This has been disclosed in the draft red herring prospectus (DRHP) that the financial services major One 97 Communications (Paytm) filed with SEBI recently for its proposed ₹ 16,600 crore initial public offering (IPO).

This performance of having over two lakh equity trading accounts may be noteworthy as Paytm Money had started providing stock broking services only in 2020, capital market observers said.

Although the total number of users availing Paytm Money’s stock broking services has increased and continues to grow, it is still less than one per cent of Paytm’s monthly active customer base. On an overall basis, there are over 33 crore users in the country who are availing various payment and other financial services offered by Paytm.

Rise in demat accounts

Post the first wave of Covid-19 and pandemic induced lockdown, there has been a sharp rise in the number of new demat account sign-ups in the country. There has been an increase of 70 lakh new demat accounts in 2020-21, taking the overall number of demat accounts as of end March 2021 to 6.2 crore. The rise in new age digital-only platforms in recent years has only brought in new investors and accelerated the opening of demat accounts, reflecting growing participation in equity markets.

Also read: Paytm files for biggest Indian IPO

Several investors in Tier-2 and Tier-3 cities and beyond are now able to access the equity markets directly on the back of technology leap and digital offerings by online broking companies. Also the fact that millennials have taken to equity trading in a big way out of their apps has also helped push this trend, say capital market observers.

As of end March 2020, India had 5.5 crore demat accounts, more than double the level of 2.5 crore accounts in end March 2016.

Paytm Money’s equity investing and trading platform is helping make direct equity investing accessible across India, including the under penetrated segments.

Paytm Money has achieved a combined assets under management (AUM) of ₹ 5,200 crore in mutual funds, gold and stock trading as on March 31,2021, the IPO prospectus showed.

Digital gold

Users have taken to purchasing digital gold from Paytm Gold in a big way going by the number of investors who had used this service. Since the launch of the digital gold service in 2017, as many as 7.4 crore investors have used the Paytm Gold’s digital gold services, according to the IPO prospectus filed with regulator. Many investors had also opted for the systematic gold withdrawal savings plan.

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Reserve Bank of India – 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


Next

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CLICK HERE TO APPLY

Reserve Bank of India – Press Releases

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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

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Public Provident Fund: Premature & Partial Withdrawal Rules Explained

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PPF Account Withdrawal Rules

The account holder can withdraw an amount not surpassing 50 percent of the amount that remained to his or her account at the end of the fourth year preceding the year of withdrawal or at the end of the preceding year, whichever is lower, at any time after the account has been open for five years by applying in Form-2 and submitting it the concerned post office or bank with account passbook.

Before making the withdrawal, the account holder must pay off all outstanding loans, including interest, if any, according to the rules stated under Public Provident Fund Rules 2019. The withdrawal can only be made once a year and only from accounts that have not been closed or terminated. In the case of an account established on behalf of a minor or a person of unsound mind, the guardian can request for a withdrawal at the post office or bank where the account is maintained.

Closure or continuation of PPF accounts without deposits after maturity

Closure or continuation of PPF accounts without deposits after maturity

The account holder can close his or her account at any time after fifteen years from the end of the year in which the account was opened by submitting a Form-3 to the concerned post office or bank. Prior to the end day of the month before the month in which the account is terminated, the post office or bank where the account was opened would facilitate withdrawal of the whole balance plus interest.

The subscriber can maintain his or her account once it matures without making any new deposits for as long as he or she wants, and the account will continue to generate interest at the prevailing interest rate of that year or quarter. Any amount or balance in the account can be withdrawn once per year by the account holder. Once an account has been kept without contributions for more than a year, the account holder will no longer be able to maintain it with further contributions.

Premature closure of PPF account

Premature closure of PPF account

Premature closure of an account holder’s account or the account of a minor or person of unsound mind for whom he or she is the guardian is permissible under Public Provident Fund Rules 2019. For making a premature withdrawal the account holder has to file Form 5 and submit it along with the required documents at the responsible bank or post office. The account holder should bear in mind, however, that withdrawals can only be made for the treatment of a serious illness that strikes him, his spouse, or dependent children or parents.

Withdrawals can also be made for the account holder’s further education, dependent children, or a change in residence status. For withdrawal made for the treatment of a disease documents such as medical reports are necessary, and for higher education school fee bills or admission letter is required to make a withdrawal, whereas to make a withdrawal, the account holder must submit a copy of his or her passport and visa, as well as a copy of his or her income tax return if his or her resident status has changed.



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Capital India to invest $25 million in Credenc for education finance

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Capital India has added another business to its portfolio by investing $25 million in mixed equity and debt in Credenc, an education lending fin-tech platform. The aim is to ensure Capital India’s vision to enable digital financial products and services to Indian customers.

“The annual spend on college fees in India is around $50 billion or ₹3.5+ lakh crore, of which only 5 per cent is financed by organised lenders. With Credenc, Capital India Finance Limited (CIFL) intends to change the segment perception and reduce underwriting risk basis Credenc’s future employability score, which will help this percentage go up to at least 15 per cent aiming to lend 3000 crores by 2025. Also, the founders will continue to run operations for Credenc as we would not want to disrupt the working of the organisation and believe they know the business best,” said SK Narvar, Promoter, Capital India

Evaluation process

The Credenc undertakes a rigorous evaluation process using a proprietary artificial intelligence (AI) model, which tracks 15 million data points to predict students’ future income applying for loans. They provide financial assistance based on student potential and future income instead of the family’s existing financial capability, which is typically the primary factor considered by traditional education lenders.

“Our partnership with Capital India is very strategic, it will give us both balance sheet and cost of capital advantage which will help in disrupting the education lending segment by providing loans to students who were until now ignored, helping lakhs of Indian students achieve their potential,” said Avinash Kumar, Co-founder, Credenc.

Credenc offers education loans covering K-12 school fees, online upskilling courses, higher education as well as study abroad courses at the click of a button and will soon launch India’s first student-focused neo bank. It is currently developing the entire student education ecosystem helping students and parents with, Credit, Accommodation, Employability, Savings, Forex, and Investments on a mobile app.

“We are keeping the students at the core of our business and building a digital ecosystem that will serve them like never before. We are making finance and banking simple for Indian students and enabling them to be financially literate and responsible,” said Mayank Batheja, Co-founder, Credenc.

With this investment, Credenc is looking to build a book of ₹3,000 crore by 2025. It is a Delhi-based fintech founded by Avinash Kumar and Mayank Batheja in 2017 and is a technology-led education loans platform, working as the digital finance desk of 1,000+ colleges across 17 cities in India.

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