Now, PFRDA opens doors for more custodians to enter pension space

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Pension regulator PFRDA has now paved the way for more players to offer custodial services in the domestic pension market. It has now amended its existing 2015 ‘Custodian of Securities’ regulations, relaxing the entry norms specified earlier.

The relaxation has altered an earlier stipulation requiring a pension fund or its sponsor, trustee bank or a Central record-keeping agency, to hold directly or indirectly not more than 50 per cent shareholding in the custodian.

With the latest change, PFRDA will entertain applications for custodial services licences even in cases where the sponsor, associates or holding company of the applicant, has more than 50 per cent holding in the aspiring custodian entity.

Conditions to be met

However, the conditions that need to be met for this include the net worth of the sponsor, associates or holding company remaining at least ₹50,000 crore at all time.

The other conditions specified for the new regime include 50 per cent or more of the directors of the custodian should be those who do not represent the interests of the sponsor or its associates; neither the custodian nor the pension fund company shall be a subsidiary of each other; and no person should be the director of both the custodian and pension fund company. Some of these conditions are aimed at preventing conflict of interest situations, sources added.

The PFRDA will soon come out with a Request for Proposal (RFP) with new relaxed norms, said sources. Currently, StockHolding Corporation of India is the sole custodian of securities for pension assets.

The pension regulator is keen that more players enter the custodial services space, given the huge increase in pension assets in recent years. Pension assets under management (AUM) are recording compounded growth of over 30 per cent, and are expected to touch ₹7.5-lakh crore by end March this fiscal. Pension AUM has already crossed ₹6.5-lakh crore.

Meanwhile, the PFRDA has also done away with the stipulation that required applicants (for licence of custodian) holding of assets under custody on the date of application to be at least equal to the total AUM of NPS as on March 31 of the preceding financial year.

Now, the PFRDA has said that the applicant’s minimum holding of assets under custody on the date of application would be defined under the selection process. These changes are expected to help players such as State Bank of India, HDFC Bank , ICICI Bank and Axis Bank, throw their hat in the custodial services ring, said a pension industry observer.

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Reserve Bank of India – Tenders

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1. e-tenders are invited for Supply, Installation, Testing and Commissioning of Microprocessor based Security Alarm System in Bank’s Main Office Building at Reserve Bank of India, Bhubaneswar from OEM or their authorized dealer. The work is estimated to cost of ₹14,65,400/- and is to be completed within 45 Days from the issue of the work order. 2. Only those tenderers / contractors who have minimum 5 years of experience in the field of work of similar nature (i.e. experience of Supply, Installation, Testing and Commissioning of Microprocessor based Security Alarm System for the bank’s building / commercial premises / industrial houses and have executed three or more similar works individually costing not less than 40% of the estimated cost “OR” two works costing not less than 50% of the estimated cost “OR” one work costing not less than 80% of the estimated cost during the last 5 years (ending June 2021) and have a minimum yearly turnover of 100% of the estimated cost during the last 3 years, and have full-fledged service setup either at Bhubaneswar / nearby place/ city are eligible for tender. 3. The participating tenderer will have to invariably furnish, at the time of applying for participation in e-tender, the following information in 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 name(s) and address(es) of the partners, copy of the Articles of Association / Power of Attorney /any other relevant document. (b) Work experience & Completion of similar works of specified value during the specified period. Copies of detailed work order indicating date of award, value of work awarded, time given for completion of the work, etc. and the corresponding completion certificates indicating actual date of completion and actual value of executed similar works enclosed in the proof of 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 be given. (c) Creditworthiness of the Contractor & their turnover 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 as proof of their creditworthiness and turnover for last 3 years (2020-21, 2019-20 & 2018-19) (d) Service Set-up Certificate from the manufacturers / any other valid document in support of having a full-fledged service setup at the desired place should be enclosed. (e) Name(s) & address (es) of the Bankers and their present contact executives Written information about the names and addresses 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 banker by the Bank in case it is so needed) should be furnished. (f) Details of bank accounts Full particulars of their bank accounts, like account No., type, when opened, etc., should be given. (g) Name (s) & Address (es) of the Clients and their present contact executives Written information about the names and addresses of at least 2 of their clients along with full details viz. telephone (landline and mobile nos.), fax nos., etc., of the contact executives (i.e. the persons who can be contacted at the office by the Bank in case it is so needed) should be furnished. (h) Client Certificates The tenderers are advised to upload the Client Certificate as per enclosed Proforma (Annex-F) from at least two of their clients for whom they have carried out eligible works in terms of eligibility (Pre-qualification) criteria described in the notice inviting tenders. Client Certificates shall be accepted by the applicant / tender inviting authority of Reserve Bank of India only when the same are signed by an official of the rank of Executive Engineer or equivalent in respect of a Government / Semi Government organization or a PSU and only when they are supported by adequate proof of payment received by the tender for the work done by them. The client certificate issued by the private organization shall also accompany Tax Deducted at source (TDS) certificate. Applications / tenders received without the specified certificates in specified format shall be rejected and the Bank shall have the right to independently verify the submitted certificates. (i) 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 contract (s) and actual time taken to complete the work (s), name(s) and full contact-details of the officer / authorities / departments under whom the work (s) was / were executed should be furnished. (j) Banker’s certificate The tenderers are advised to upload the Banker’s certificate from their banker / bankers as per the Annex-I. Such certificate shall be addressed to the application / Tender inviting Authority of the Reserve Bank of India and shall be submitted along with their application / tender. 4. In the event of intending tenderers’ failure to satisfy the Bank; the Bank reserves the right to refuse issuance of tender forms / documents to them. 5. e- tenders in prescribed form shall be submitted in two parts. Part-I of tender will contain the Bank’s standard technical and commercial conditions for the proposed work, tenderers’ covering letter, tenderers’ additional conditions, if any, and the EMD ₹29,308/- in the form of an irrevocable bank guarantee issued by a scheduled bank in the Bank’s standard Proforma which is available in the tender-form OR a demand draft drawn on a scheduled bank favoring Reserve Bank of India payable at Bhubaneswar OR through NEFT as per details given below.
Reserve Bank of India; Branch Name – Bhubaneswar
Account No.: 186004001; IFSC Code – RBIS0BBPA01,
Part-II of tender will contain no conditions but Bank’s Schedule of quantities, tender drawings, if any, and tenderers’ priced bid only. 6. Part I of the tenders will be opened at 15:00 Hrs on November 02, 2021 in the presence of the authorized representative of the tenderers who choose to be present. Part II of the tender will be opened on a subsequent date which will be intimated to the tenderers in advance. 7. The Bank shall obtain reports on past performance of the tenderer from his clients and bankers. The Bank shall evaluate the said reports before opening of the part-II of the tenders. 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 and found unsatisfactory, the Bank reserves the right to reject his offer even after opening of Part-I of the tender. Part-II of the tender will not be opened and EMD shall be returned back to him as it is. The Bank is not bound to assign any reason for doing so. 8. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part of any tender. The Bank also reserves the right to reject all the tenders without assigning any reason thereof. 9. The schedule of e-tender (SoT) is as follows (a) e-Tender No. RBI/Bhubaneswar/Estate/125/21-22/ET/170 (b) Mode of Tender e-Procurement System Online (Part I – Techno – Commercial Bid and Part II – Financial Bid through https://www.mstcecommerce.com/eprochome/rbi (c) Date of NIT available to the parties to download September 24, 2021 from 18:00 hrs onwards (d) Date and venue of pre-bid meeting (offline) 15:00 hrs. on October 22, 2021, In the Conference Hall, 2nd Floor, Reserve Bank of India, Pt. Jawaharlal Nehru Marg Bhubaneswar – 751001 (e) Estimated cost of work ₹14,65,400 (Rupees Fourteen Lakh Sixty-five Thousand Four Hundred Only) (f) Earnest Money Deposit ₹29,308 (g) Last date of submission of DD and/or NEFT transaction receipt for EMD November 02, 2021 through NEFT Transaction. DD can be submitted on or before November 02, 2021 by 14:00 Hrs. (h) Bidding Start date of Techno-Commercial Bid and Financial Bid at https://mstcecommerce.com/eprochrome/rbi 14:00 Hrs. of October 23, 2021 (i) Date of closing of online e-Tender for submission of Techno- Commercial Bid & Financial Bid 14:00 Hrs. of November 02, 2021 (j) Date & time of opening of Part-I (i.e. Techno- Commercial Bid) 15:00 Hrs. of November 02, 2021 (k) Date & time of opening of Part-II (i.e. Price Bid) Will be informed separately. (l) Date & Time of opening of Part- II (Financial Bid) Opening of Financial Bid will be intimated to all the eligible bidders later (m) Transaction fee Payment of Transaction fee through MSTC Gateway/NEFT/RTGS in favour of MSTC Limited or as advised by M/s MSTC Ltd. (n) Tender fees for download from portal Nil

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Reserve Bank of India – Notifications

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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 – Press Releases

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The Reserve Bank of India (RBI) has, by an order dated September 23, 2021, imposed a monetary penalty of ₹79.00 lakh (Rupees seventy-nine lakh only) on Apna Sahakari Bank Ltd., Mumbai (the bank) for non-compliance with directions issued by RBI on ‘Income Recognition, Asset Classification, Provisioning and other related matters (IRAC norms)’, ‘Interest Rate on Deposits’ and ‘Maintenance of Deposit Accounts’. This penalty has been imposed in exercise of powers vested in RBI conferred under section 47 A (1) (c) read with sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid directions issued by RBI.

This action is based on deficiency 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 statutory inspection of the bank conducted by the RBI with reference to the bank’s financial position as on March 31, 2019, the Inspection Report pertaining thereto, and examination of all related correspondence revealed, inter alia, that the bank had not complied with the directions issued by RBI on NPA classification, payment of interest on deposits lying in current accounts of deceased individual depositors or sole proprietorship concerns while settling the claims and levying of penal charges in savings bank accounts for non-maintenance of minimum balances. In furtherance to the same, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for contravention of aforesaid directions.

After considering the bank’s reply to the notice, additional submissions and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions were substantiated and warranted imposition of monetary penalty, to the extent of non-compliance with the aforesaid directions.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/926

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Reserve Bank of India – Press Releases

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Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:

Sr. No Treasury Bill Notified Amount
(in ₹ crore)
Auction Date Settlement Date
1 91 Days 9,000 September 29, 2021
(Wednesday)
September 30, 2021
(Thursday)
2 182 Days 4,000
3 364 Days 4,000
  Total 17,000    

The sale will be subject to the terms and conditions specified in the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 along with the Amendment Notification No.F.4(2)-W&M/2018 dated April 05, 2018, issued by Government of India, as amended from time to time. State Governments, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard, can participate on non-competitive basis, the allocation for which will be outside the notified amount. Individuals can also participate on non-competitive basis as retail investors. For retail investors, the allocation will be restricted to a maximum of 5 percent of the notified amount.

The auction will be Price based using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India’s Core Banking Solution (E-Kuber) system on Wednesday, September 29, 2021, during the below given timings:

Category Timing
Competitive bids 10:30 am – 11:30 am
Non-Competitive bids 10:30 am – 11:00 am

Results will be announced on the day of the auction.

Payment by successful bidders to be made on Thursday, September 30, 2021.

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595666, 022-27595415, 022-27523516). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Ajit Prasad
Director   

Press Release: 2021-2022/927

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Reserve Bank of India – Notifications

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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 – Press Releases

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1. Reserve Bank of India – Liabilities and Assets*
(₹ Crore)
Item 2020 2021 Variation
Sep. 18 Sep. 10 Sep. 17 Week Year
1 2 3 4 5
4 Loans and Advances          
4.1 Central Government
4.2 State Governments 23430 12260 13300 1040 -10129
* Data are provisional.

2. Foreign Exchange Reserves
Item As on September 17, 2021 Variation over
Week End-March 2021 Year
₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn.
1 2 3 4 5 6 7 8
1 Total Reserves 4701267 639642 -13031 -1470 482314 62659 698084 94605
1.1 Foreign Currency Assets 4248108 577986 -8493 -892 323940 41293 564897 76522
1.2 Gold 272700 37103 -4290 -567 24977 3223 -2293 -337
1.3 SDRs 142839 19434 -91 -4 131975 17948 131950 17952
1.4 Reserve Position in the IMF 37621 5119 -157 -8 1423 194 3531 468
*Difference, if any, is due to rounding off

4. Scheduled Commercial Banks – Business in India
(₹ Crore)
Item Outstanding as on Sep. 10, 2021 Variation over
Fortnight Financial year so far Year-on-year
2020-21 2021-22 2020 2021
1 2 3 4 5 6
2 Liabilities to Others            
2.1 Aggregate Deposits 15574660 57609 679793 461147 1524428 1327374
2.1a Growth (Per cent)   0.4 5.0 3.1 12.0 9.3
2.1.1 Demand 1753571 -37425 -104106 -107621 200688 240674
2.1.2 Time 13821088 95034 783899 568769 1323741 1086700
2.2 Borrowings 243400 5319 -50882 -625 -75652 -15157
2.3 Other Demand and Time Liabilities 616597 60398 -55224 -40010 -76697 68146
7 Bank Credit 10912042 14441 -143931 -37467 513272 685112
7.1a Growth (Per cent)   0.1 –1.4 –0.3 5.3 6.7
7a.1 Food Credit 69738 938 12090 8484 -882 5884
7a.2 Non-food credit 10842304 13503 -156021 -45951 514154 679228

6. Money Stock: Components and Sources
(₹ Crore)
Item Outstanding as on Variation over
2021 Fortnight Financial Year so far Year-on-Year
2020-21 2021-22 2020 2021
Mar. 31 Sep. 10 Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 18844578 19399596 71088 0.4 938401 5.6 555019 2.9 2089959 13.4 1661232 9.4
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 2751828 2843296 12376 0.4 250494 10.7 91468 3.3 492082 23.3 243054 9.3
1.2 Demand Deposits with Banks 1995120 1888130 -37949 -2.0 -103074 -5.9 -106990 –5.4 206233 14.4 253512 15.5
1.3 Time Deposits with Banks 14050278 14621448 96095 0.7 787425 6.2 571170 4.1 1380144 11.4 1160008 8.6
1.4 ‘Other’ Deposits with Reserve Bank 47351 46722 566 1.2 3556 9.2 -629 –1.3 11500 37.6 4659 11.1
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 5850374 6246310 169968 2.8 657473 13.3 395936 6.8 848473 17.8 628475 11.2
2.1.1 Reserve Bank 1099686 1251825 60593   -15193   152139   15835   274826  
2.1.2 Other Banks 4750689 4994485 109375 2.2 672666 17.0 243797 5.1 832638 21.9 353649 7.6
2.2 Bank Credit to Commercial Sector 11668466 11621791 13310 0.1 -149126 -1.4 -46675 –0.4 563532 5.5 732273 6.7
2.2.1 Reserve Bank 8709 7000 -1616   678   -1709   6207   -6844  
2.2.2 Other Banks 11659757 11614790 14926 0.1 -149804 -1.4 -44967 –0.4 557325 5.4 739116 6.8

8. Liquidity Operations by RBI
(₹ Crore)
Date Liquidity Adjustment Facility MSF* Standing Liquidity Facili ties Market Stabili sation Scheme OMO (Outright) Long Term Repo Oper ations & Targeted Long Term Repo Oper ations# Special Long-
Term Repo
Oper ations for
Small Finance
Banks
Special
Reverse
Repo£
Net Injection (+)/
Absorption (-)
(1+3+5+ 6+9+
10+11+12-2- 4-7 -8- 13)
Repo Reverse Repo* Variable Rate Repo Variable Rate Reverse Repo Sale Pur chase
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Sep. 13, 2021 540722 13 200 -540509
Sep. 14, 2021 497954 100019 65 -597908
Sep. 15, 2021 451181 527 150 -450504
Sep. 16, 2021 375743 4 5 5 -375739
Sep. 17, 2021 319912 168 -319744
Sep. 18, 2021 45044 1755 -43289
Sep. 19, 2021 2782 16 -2766
* Includes additional Reverse Repo and additional MSF operations (for the period December 16, 2019 to February 13, 2020).
# Includes Targeted Long Term Repo Operations (TLTRO) and Targeted Long Term Repo Operations 2.0 (TLTRO 2.0) and On Tap Targeted Long Term Repo Operations. Negative (-) sign indicates repayments done by Banks.
& Negative (-) sign indicates repayments done by Banks.
£ As per Press Release No. 2021-2022/177 dated May 07, 2021. From June 18, 2021, the data also includes the amount absorbed as per the Press Release No. 2021-2022/323 dated June 04, 2021.

The above information can be accessed on Internet at https://wss.rbi.org.in/

The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762).

Time series data are available at https://dbie.rbi.org.in

Ajit Prasad
Director   

Press Release: 2021-2022/925

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LIC Jeevan Anand: Popular Choice For Both Protection And Savings

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Insurance

oi-Kuntala Sarkar

|

LIC Jeevan Anand is a non-linked policy that will offer you both financial protection and savings for the future. The reason behind the popularity of this particular plan is the policy will provide ‘financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his or her survival.’ The minimum age of entry is 18 years completed and the maximum age of entry is 50 years under this plan. The minimum policy term is 15 years, while the maximum policy term is 35 years. The maximum age of maturity of the LIC Jeevan Anand policy is 75 years.

LIC Jeevan Anand: Popular Choice For Both Protection And Savings

Basic policy benefits of LIC Jeevan Anand

At the time of policy maturity, provided all the premiums have been paid, LIC will pay the Sum Assured on Maturity along with vested Simple Reversionary Bonuses. The sum assured on maturity under this policy will be an equal amount to the basic sum assured.

Death benefits are the attractive and significant benefits of the LIC Jeevan Anand policy, and many senior Indians are signing up for this plan. Death benefit which is the sum of sum assured on death and vested Simple Reversionary Bonuses will be paid by LIC, provided all due premiums have been paid by the investor. According to this policy, the sum assured on death will be 125% of the basic sum assured or 10 times the annualized premium. However, the death benefit of the policyholder will not be any less than 105% of all the premiums paid till the date of death. In case the policyholder dies at any time after the policy term, the basic sum assured and vested Simple Reversionary Bonuses will be paid by LIC in a lump sum on survival to the end of the policy term. The policyholder should certainly be cleared with all due premiums. In both of the cases Final (Additional) Bonus will also be paid, if taken any.

Calculation of sum assured and benefits

The minimum basic sum assured under this endowment policy is Rs. 1 lakh with no maximum limit, but that will depend on the policyholder’s income. The below calculation has been done considering the policyholder’s age at 50 years and the policy term at 15 years. Premiums can be paid yearly, half-yearly, quarterly and monthly in this policy.

Basic Sum Assured (INR) Death Sum Assured 1st year premium (4.5% tax) Premium from 2nd year (2.25% tax) Total approximate return at the time of maturity Life time risk cover
200000 250000 19906 19478 318000 200000
500000 625000 49244 48183 795000 500000
1000000 1250000 97965 95855 1590000 1000000

The calculation is done by Goodreturns.in through the ALL IN ONE CALC mobile app.

Additional policy benefits

Along with the above-mentioned benefits, LIC will also offer some optional benefits with the plan, like Accidental Death and Disability Benefit Rider. The policyholder can avail of it by paying an additional premium during the policy term. If the policyholder dies accidentally during his/her policy term running, the Accident Benefit Sum Assured will be paid by LIC as lumpsum along with the death benefit under the basic plan. Otherwise, if the policyholder becomes disabled due to an accident (within 180 days from the date of accident), LIC will pay him/her an amount equal to the Accident Benefit Sum Assured in equal monthly installments for 10 years. Along with this, the future premiums will also be waived due to the disability. Also under the Critical Illness Benefit Rider, specified 15 critical illnesses are covered that a policyholder can avail, but the ‘benefit rider should not exceed 100% of premium under the base plan and the premiums under all other life insurance riders put together should not exceed 30% of premiums under the base plan’.

You can also take a loan under the policy provided at least two full years’ premiums have been paid. Premium paid under this plan is eligible for tax rebate under section 80c and maturity under this plan is free under section 10(10D).

Story first published: Friday, September 24, 2021, 18:30 [IST]



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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


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Indiabulls Housing Finance repaid ₹7,075.84 crore of NCDs to investors in September

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Indiabulls Housing Finance (IBH) has repaid ₹7,075.84 crore of Non-Convertible Debentures (NCDs) to its investors in September this year.

“The repayments comprised of ₹6,575.84 crore of public issue of NCDs done by IBH and ICCL in September 2016 and September 2018 respectively and ₹500 crore of NCDs issued by IBH in September 2011,” it said in a statement on Friday.

The public NCDs were repaid ahead of their scheduled repayment dates, it further said.

“IBH has a fully matched ALM with significant positive cash at the end of each period,” it said, adding that from time to time, it utilises its liquidity buffers to repay its liabilities ahead of schedule to give comfort to its stakeholders, especially lenders and rating agencies.

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