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This Healthcare Stock Is A Buy For A 22% Upside, Says Sharekhan

October 6, 2021 root Personal Finance

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Financials of Metropolis Healthcare (estimates by Sharekhan)

	FY 2022 (E)	FY 2023 (E)
Revenues	Rs 1227.9	Rs 1398.1
Operating profits	Rs 370.3	Rs 429.3
EPS	Rs 44.4	Rs 52.6
Returns on capital employed	31.70%	31.30%
Net profits	Rs 226.9	Rs 268.8
RONW	26.30%	26.10%

The brokerage sees net profits surging to Rs 268.8 crores for FY 2023 from Rs 226.9, it is estimated to achieve in FY 2022- The above numbers are only estimates by the brokerage firm.

Rationale for buying the stock of Metropolis Healthcare

According to Sharekhan, there is an emphasis of the company on growing the lucrative business to consumer business. The company plans to increase the share of B2C segment in focus cities to 65% from 58% (FY21) coupled with efforts to convert few seeding cities to focus cities and sturdy expansion plans basis asset light franchise model to drive the topline growth.

“Efforts to drive the home collection services and more specialised tests, and higher growth in B2C segment leading to favorable mix would drive up margins leading to a strong 21% PAT CAGR over FY21-FY23E,” the brokerage has said.

Expansion of network to help

According to Sharekhan the company is also consistently focusing on expanding its network to fuel growth.

“Going ahead, the management plans to add around 90 new laboratories and 1800 new patient service centers over next three years, driven by the asset-light franchise model. The expansion could entail an investment of Rs 25- 35 crore. Further, given the strong growth potential in seeding cities (21% of sales), the company plans to convert a few ‘seeding cities’ to ‘focus cities’ (in which it has a higher market share),” the brokerage has said.

Metropolis Healthcare according to Sharekhan has a strong and an established presence in the focus markets of Mumbai, Pune, Bangalore, Surat and Chennai.

Good mix to drive growth

According to Sharekhan, Metropolis’s operating margins for the Financial Year 2021 stood at 28.7% as compared to 27.2% as of FY2018, implying an expansion of 150 bps, this largely supported by the reduction in employee cost and other expenses (as a percentage of sales). However over the period from FY2017 to FY2021 the company has substantially expanded its network / touch points including the patient service centers. Considering substantial expansion in network, test volumes have grown at a mere 7.4% compounded annual growth rate over FY2017 to FY2021 thus implying at ample head room for expansion.

According to the brokerage the company’s leading position in diagnostics space, wide test portfolio, pan-India presence would be the positives for Metropolis. The stock trades at 62.6 times and 52.9 times its FY22E/FY23E EPS

Disclaimer:

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies Pvt Ltd, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.

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This Private Sector Bank Revises Interest Rates On Savings Account

October 6, 2021 root Personal Finance

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DCB Bank Savings Account Interest Rates

For resident, NRE, and NRO savings bank account, the most recent interest rates are as follows.

Resident, NRE, and NRO Savings Bank Account Interest rates (with effect from October 1, 2021)
Balance Range (INR)	Rate of Interest p.a. W.E.F October 1, 2021
On balances up to 1 lakh in the account	2.75%
On balances above 1 lakh to less than 25 lakh in the account	5.00%
On balances from 25 lakh to less than 50 lakh in the account	6.00%
On balances from 50 lakh to less than 2 crore in the account	6.50%
On balances from 2 crore to less than 50 crore in the account	5.50%
On balances from 50 crore and above	5.00%
Source: Bank Website

DCB Bank Current and Saving Accounts Transactions Charges

With effect from 1 March 2020, the transaction charges for National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Services (IMPS) undertaken at branches have been adjusted which is as follows:

Transaction Amount	NEFT Charges	RTGS Charges	IMPS Charges
Amount upto INR 10,000	INR 2.00	Not Applicable	INR 4.50
Amount above INR 10,000 INR 4.50 Not Applicable INR 4.50 and upto INR 1 Lakh	INR 4.50	Not Applicable	INR 4.50
Amount above INR 1 Lakh INR 14.50 Not Applicable INR 14.50 and upto INR 2 Lakh	INR 14.50	Not Applicable	INR 14.50
Amount above INR 2 Lakh INR 24.50 INR 24.50 Not Applicable and upto INR 5 Lakh (Including INR 2 Lakh for RTGS)	INR 24.50	INR 24.50	Not Applicable
Amount above INR 5 Lakh	INR 24.50	INR 49.00	Not Applicable

DCB Current and DCB Saving Accounts Monthly Cash Withdrawal Limit & Applicable Charges

With effect from March 1, 2020, the service charges for cash withdrawal transactions have been changed. The new fee structure is as follows:

Monthly Cash Withdrawal Limit & Applicable Charges Less than or equal to 3 times of previous month AMB – Free.
More than 3 times and upto 10 times of previous month AMB – INR 1 per Thousand of cash withdrawal.
More than 10 times of previous month AMB – INR 2 per Thousand of Cash Withdrawal.
For DCB Current Accounts charge levied for each transaction exceeding the applicable free limit will be INR 100 per transaction beyond free limit plus applicable tax.
For DCB Savings Account Charge levied for each transaction exceeding the applicable free limit will be INR 100 per transaction beyond free limit plus applicable tax.

Story first published: Wednesday, October 6, 2021, 9:20 [IST]

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Reserve Bank of India – Press Releases

October 6, 2021 root Press Releases

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(Amount in ₹ crore, Rate in Per cent)

Volume
(One Leg) Weighted
Average Rate Range

A. Overnight Segment (I+II+III+IV) 465,458.56 3.17 1.00-5.15

     I. Call Money 5,850.64 3.20 1.95-3.40

     II. Triparty Repo 358,048.15 3.14 2.89-3.24

     III. Market Repo 101,514.77 3.24 1.00-3.35

     IV. Repo in Corporate Bond 45.00 5.15 5.15-5.15

B. Term Segment

     I. Notice Money** 1,264.07 3.16 2.40-3.40

     II. Term Money^@@ 24.00 – 3.20-3.30

     III. Triparty Repo 10.00 3.19 3.19-3.19

     IV. Market Repo 1,781.98 3.42 2.00-3.50

     V. Repo in Corporate Bond 2,230.00 3.62 3.60-5.35

Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate

C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)

I. Today’s Operations

1. Fixed Rate

    (i) Repo

    (ii) Reverse Repo Tue, 05/10/2021 1 Wed, 06/10/2021 420,811.00 3.35

    (iii) Special Reverse Repo^~

    (iv) Special Reverse Repo^ψ

2. Variable Rate^&

  (I) Main Operation

     (a) Reverse Repo

  (II) Fine Tuning Operations

     (a) Repo

     (b) Reverse Repo Tue, 05/10/2021 7 Tue, 12/10/2021 200,001.00 3.61

3. MSF Tue, 05/10/2021 1 Wed, 06/10/2021 235.00 4.25

4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)^£

5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]* -620,577.00

II. Outstanding Operations

1. Fixed Rate

  (i) Repo

    (ii) Reverse Repo

    (iii) Special Reverse Repo^~ Fri, 24/09/2021 14 Fri, 08/10/2021 6,999.00 3.75

    (iv) Special Reverse Repo^ψ Fri, 24/09/2021 14 Fri, 08/10/2021 2,712.00 3.75

2. Variable Rate^&

  (I) Main Operation

     (a) Reverse Repo Fri, 24/09/2021 14 Fri, 08/10/2021 344,515.00 3.60

  (II) Fine Tuning Operations

     (a) Repo

     (b) Reverse Repo

3. MSF

4. Long-Term Repo Operations^# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15

Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15

Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15

Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15

5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40

Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40

Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40

Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40

6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40

7. On Tap Targeted Long Term Repo Operations^€ Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00

Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00

Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00

Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00

Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00

Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00

8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)^£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00

Tue, 15/06/2021 1095 Fri, 14/06/2024 490.00 4.00

Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00

Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00

Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00

D. Standing Liquidity Facility (SLF) Availed from RBI^$ 23,995.80

E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]* -244,588.20

F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]* -865,165.20

G. Cash Reserves Position of Scheduled Commercial Banks

     (i) Cash balances with RBI as on 05/10/2021 613,263.16

     (ii) Average daily cash reserve requirement for the fortnight ending 08/10/2021 630,489.00

H. Government of India Surplus Cash Balance Reckoned for Auction as on^¥ 05/10/2021 0.00

I. Net durable liquidity [surplus (+)/deficit (-)] as on 10/09/2021 1,183,556.00

^@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).

– Not Applicable / No Transaction.

** Relates to uncollateralized transactions of 2 to 14 days tenor.

^@@ Relates to uncollateralized transactions of 15 days to one year tenor.

^$ Includes refinance facilities extended by RBI.

^& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.

* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.

^# As per the Press Release No. 2020-2021/287 dated September 04, 2020.

^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.

^€ As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.

^¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.

^£ As per the Press Release No. 2021-2022/181 dated May 07, 2021.

^~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.

^ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021.

Ajit Prasad
Director

Press Release: 2021-2022/990

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7 Electric Vehicle Stocks For Investors To Keep An Eye On

October 6, 2021 root Personal Finance

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Why there is a hype around Electric Vehecle stocks?

The government has set a goal of achieving 100% electrification by 2030. Given the early phases of adoption that we are currently in, this is a massive goal.

All three-wheelers will be battery-powered by 2023, and the majority of two-wheelers will be battery-powered by 2025. With the Indian government’s increased focus on green mobility, it’s reasonable to expect the electric vehicle industry to develop and India’s electric vehicle fleet to expand. Because of India’s EV market’s widespread acceptance and expansion, the year 2021 can be regarded the best time to invest in electric vehicle stocks in India.

Mahindra & Mahindra Limited

In India, Mahindra is a pioneer in the field of electric vehicles. Its first EV, the Mahindra Reva, was introduced in 2001, making it the first significant EV manufacturer. With the EV manufacturing unit in Bangalore, it has expanded beyond consumer and business demands to include a wide range of other market categories. Mahindra & Mahindra Limited is expected to handle future expansion within the electric vehicle sector, particularly in terms of battery development.

The Mahindra e2o and Mahindra e2o Plus are two new compact urban electric car models from Mahindra.

The stock returned -2.33 percent over a three-year period, compared to 58.78 percent for the Nifty 100 index.

Market Cap (Rs. in Cr.): 104788.70

Earning Per Share: Rs. 8.14

Price To Earnings Ratio: 103.53

Tata Motors

Tata Motors has created ZAPTRON, a unique technology that creates power through kinetic braking and recharges the battery while the car is in motion.

Tata Motors now offers three hybrid vehicles: the Tigor electric car, Nano electric vehicle, and Tiago electric vehicle. As it expands its R&D globally and in India, it is expected to dominate the EV industry. Apart from autos, Tata Motors also produces a large number of heavy-duty electric buses, dump trucks, and military vehicles in India.

For the past three years, the company has posted a negative return on investment (ROI). Over a three-year period, the stock returned 45.32 percent, while the Nifty Auto provided investors a 9.7 percent return.

Market Cap (Rs. in Cr.): 114567.22

Earning Per Share: Rs.-4.59

Price To Earnings Ratio: 0.00

Greaves Cotton

Greaves Cotton announced a move into the multi-brand EV retail space, which it expects to be a significant contribution to both the top and bottom lines. It’s the only multi-brand EV store in the area, and it’s a natural extension of the company’s high-end engine expertise. GCL has a market share of 60-65 percent in the 3W diesel engine segment. Over 30 Indian original equipment manufacturers rely on GCL engines (OEMs)

Only 3.63 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The stock returned 6.34 percent over three years, compared to 76.83 percent for the Nifty Smallcap 100.

Market Cap (Rs. in Cr.): 3204.53

Earning Per Share: Rs 1.21

Price To Earnings Ratio: 114.08

Minda Corp

The N.K. Minda Group’s flagship company, Minda Industries Limited, is one of India’s most versatile auto component producers. It is a tier-1 supplier of patented automotive solutions to OEMs and a technical leader in the automotive components business. Minda has engineering, R&D, and production facilities in Manesar, Pune, and Sonepat, and is headquartered in Manesar, Haryana. It is the first car component producer to supply electric vehicle manufacturers. It has already received orders to offer electric vehicle mobility components. It is primarily focused on R&D and has a prestigious roster of electric vehicle clients.

Only 3.63 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The stock returned 6.34 percent over three years, compared to 76.83 percent for the Nifty Smallcap 100.

Market Cap (Rs. in Cr.): 3213.23

Earning Per Share: Rs 4.76

Price To Earnings Ratio: 28.22

Ashok Leyland

India’s leading maker of electric buses, vehicles, and security equipment is Ashok Leyland. It has created the world’s first flash-charged electric bus.

It allows heavy-duty electric vehicles to fit on Indian highways, making it suitable for them. Ashok Leyland’s historic debuts include Circuit, Circuit S, and HYBUS, to name a few. With ABB TOSA technology, Ashok Leyland will disrupt the heavy electric vehicle industry in India.

Only 3.09 percent of trading sessions in the last 16 years had intraday drops of more than 5%. Over a three-year period, the stock returned 8.82 percent, compared to 9.7 percent for the Nifty Auto Index.

Market Cap (Rs. in Cr.): 38807.67

Earning Per Share: Rs -0.71

Price To Earnings Ratio: 0.00

Bharat Forge

Bharat Forge has launched a new firm called Kalyani Powertrain to focus on its electric vehicle sector. In the last year, the company’s stock has increased by 65 percent.

Furthermore, it intends to manufacture electric two- and three-wheelers with the support of Tork Motors, a Pune-based electric motorcycle startup in which Bharat Forge owns a 49 percent stake. In 2022, the first model is expected to hit the market.

Only 2.53 percent of trading sessions in the last 16 years had intraday gains of more than 5%. In comparison to the Nifty 100, which returned 58.78 percent over three years, the stock returned 16.31%.

Market Cap (Rs. in Cr.): 33641.11

Earning Per Share: Rs 11.49

Price To Earnings Ratio: 62.87

Exide Industries

Exide Industries specializes in the manufacture of storage batteries and related items. A subsidiary of the corporation, Exide Life Insurance Company Ltd (ELI), provides life insurance to customers through a number of channels, such as individual agents, corporate agents, banks, and so on.

Storage Batteries Segment: The company is India’s largest storage battery manufacturer, with a monopoly on virtually every category in the automotive, industrial, and submarine industries.

Only 2.38 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The stock returned -31.96 percent over three years, compared to 75.85 percent for the Nifty Midcap 100.

Market Cap (Rs. in Cr.): 15380.75

Earning Per Share: Rs 9.88

Price To Earnings Ratio: 18.32

Other EV related stocks

Himadri Speciality Chemical, Hindalco Industries, Hindustan Copper, and JBM Auto Ltd are some of the EV-related stocks. These stocks represent the EV potential and are direct and indirect beneficiaries. Before making any investments, it is wise to consult with your experts.

Disclaimer

Investors should note that investing in stocks is risky and neither the author, nor Greynium Information Technologies Pvt Ltd, nor the brokerage would be responsible for losses based on a decision from the above article.

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Ahead of festive season, banks slash interest rate on home loans. Get the details here, BFSI News, ET BFSI

October 6, 2021 root Banking & Finance

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Festive season has commenced and banks as well as non-banking financial institutions have already rolled out a plethora of festival offers like lower interest rates on loans and waiver of processing fees.

Ahead of the festive season, many top banks have announced offers and discounts on home loans.

State Bank of India (SBI), ICICI Bank, Punjab National Bank (PNB), Kotak Mahindra, Bank of Baroda (BoB) and Yes Bank are among the banks offering home loans at attractive rates.

The offer is for a limited time period.

Bank Women Others Effective Rate of Interest Offer valid upto

SBI – – 6.70% onwards –

ICICI Bank – – 6.70% onwards –

Yes Bank 6.65% onwards (salaried) – 6.70% onwards 1-Oct to 31 Dec 2021

Kotak Mahindra Bank – – 6.50% onwards 10-Sep to 8-Nov-21

Punjab National Bank – – 6.60% onwards

Source: Official Websites

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Leave a comment bank of baroda, bob, home loan offers, home loans, ICICI Bank, Kotak Mahindra Bank, pnb, punjab national bank, state bank of india

Ahead of festive season, banks slash interest rate on home loans. Get the details here, BFSI News, ET BFSI

October 6, 2021 root Banking & Finance

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Festive season has commenced and banks as well as non-banking financial institutions have already rolled out a plethora of festival offers like lower interest rates on loans and waiver of processing fees.

Ahead of the festive season, many top banks have announced offers and discounts on home loans.

State Bank of India (SBI), ICICI Bank, Punjab National Bank (PNB), Kotak Mahindra, Bank of Baroda (BoB) and Yes Bank are among the banks offering home loans at attractive rates.

The offer is for a limited time period.

Bank Women Others Effective Rate of Interest

SBI – – 6.70% onwards

ICICI Bank – – 6.70% onwards

Yes Bank 6.65% onwards (salaried) – 6.70% onwards

Kotak Mahindra Bank – – 6.50% onwards

Punjab National Bank – – 6.60% onwards

Source: Official Websites

Follow and connect with us on Twitter, Facebook, Linkedin

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Leave a comment bank of baroda, bob, home loan, home loan offers, ICICI Bank, Kotak Mahindra Bank, pnb, punjab national bank, state bank of india

Banks’ credit growth gradual in August, industry weakest link, says ICICI Sec, BFSI News, ET BFSI

October 6, 2021 root Banking & Finance

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The overall credit growth of banks in August has been gradual from July, with signs of improvement only in pockets, ICICI Securities said in a report.

Industry credit continues to be the weakest link, dragging overall credit growth.

The industry, which comprises 29.2% of total non-food credit, was down 0.2% on month. Under-utilisation of existing sanction limits, modest demand outlook and run-down of exposure in few sectors were among the key factors, the brokerage said.

However, the brokerage expects industry credit to revive in the near future, given economic recovery from the COVID-19 crisis.

“We believe India Inc is now better positioned and confident to anvil on the path of re-leveraging. Indian financiers, too, have saddled themselves with ample liquidity to tap the emerging opportunity. Recovery in economic activity and the derivative effect of increased investments and corporate, government spending on consumption will sustain the momentum of more than 15% growth over FY22-FY25,” ICICI Securities said.

Also read: Banks’ credit outlook ‘stable’ for FY22, says Crisil Ratings

Credit extended for home loans has stayed put since March, up 0.8% year-to-date, while vehicle loans moderated to a 1% month-on-month accretion and is likely to pick up during the festive season.

Other personal loans also saw a strong momentum, up 18% on year.

With gradual easing of COVID-19 restrictions, credit card portfolio sales have risen 3.9% on month and 10.3% on year, witnessing the quickest recovery as business activity levels revived, the brokerage said.

Credit to non-food sectors was up a mere 0.5% on month and 6.7% on year, with agri and retail being the main drivers.

Retail credit is sustaining double-digit growth, but has not been robust, despite relaxation of COVID curbs, the brokerage said. The growth in retail credit was primarily due to the traction in vehicle and personal loans, and credit card sales.

Roads, airports, railways, iron and steel, cement, telecom and sugar are among the key sectors that are continuously deleveraging, the brokerage said.

“We believe industry growth will have to emerge as a key driver to boost credit growth in coming years. While it may happen with some lag, revival in consumer demand and rise in government spending can be potential triggers,” the brokerage said.

Credit to micro, small and medium enterprises was up 4% on month and 63% on year, the brokerage noted.

Lending to housing finance companies was up 21% on month, while loans to public public financial institutions was down 1% on year. After running down high risk assets, NBFCs are now pursuing growth opportunities in a risk-calibrated manner, the brokerage said, adding that now bank lending to NBFCs should stabilise.

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ICICI Bank 2nd in card spends, ahead of SBI, BFSI News, ET BFSI

October 6, 2021 root Banking & Finance

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ICICI Bank has overtaken SBI in credit card spends in August taking the number two spot after HDFC Bank. According to RBI data, ICICI Bank had a market share of 19.6% in August 2020 up from 15.8% in August 2020. SBI Card’s market share in spends, slipped to 18.7% in August 2021 from 20% in the previous year.

In absolute terms, total spending through credit cards in August 2021 was Rs 77,733 crore, up 54% from Rs 50,319 crore in August 2020. The overall number of cards in force has increased from 5.8 crore to 6.4 crore in the same period.

“Looking at total spends, since November 2020, ICICI has gained around 510 basis points market share, while HDFC Bank and SBI cards have lost around 285bps and 90bps market share, respectively. ICICI Bank’s total spends for July 2021 was equal to that of SBI cards despite ICICI Bank’s market share (based on outstanding cards) being lower than that of SBI Cards. We believe, ICICI’s co-branded card with Amazon (1.6 millon as of March 2021), which forms more than 50% of incremental card additions, has helped it to scale up its credit card business in a significant way,” said Suresh Ganapathy, an analyst with Macquarie research.

To boost credit card spending, HDFC Bank on Tuesday launched its Festive Treats 3.0 campaign, which will provide offers on cards, loans and EMIs. The bank has partnered with over 10,000 merchants across 100 locations as it expects customers to return to offline shopping following a dip in Covid cases and increased pace of vaccinations. “This year we have come out with more offline offers including hyperlocal merchants. We will use our ATM platform to inform customers about the offers around their location,” said Parag Rao, group head (payments, consumer finance, digital banking and IT).

HDFC Bank continues to be the market leader with 26.5% of total credit card spending in India. However, the bank’s share has fallen from August 2021, when it accounted for 28.7% of the total spend. Sequentially, HDFC Bank had seen a dip in credit cards in force as the RBI ban was still in force for most of the month. Since the ban was lifted the bank had added four lakh credit cards to its base of 1.47 crore cards as of August 2021.

The biggest loser in terms of share of spending is Citibank, which led the ranking in terms of card spend for many years. The multinational, which had a 7.8% share of spends in 2020 now accounts for 4.9% of spending. IDFC First Bank, a relatively late entrant, has managed to make a dent by increasing its share of card spend to over 1%. American Express is the only multinational bank to grow its share of spending from a year-ago period. However, the US issuer also faces an embargo on issuing new cards until it complies with data localization norms, which is likely to hit growth.

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BSE Tech gets RBI in-principle nod to set up, operate Trade Receivables Discounting System, BFSI News, ET BFSI

October 6, 2021 root Personal Finance

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Leading bourse BSE on Tuesday said its arm BSE Technologies Pvt Ltd (BSE Tech) has received in-principle approval from the central bank to set up and operate Trade Receivables Discounting System (TReDS). The TReDS business of BSE will commence only after the receipt of final approval and certificate of license from the RBI, as per a release.

TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of micro, small and medium enterprises (MSMEs) through multiple financiers.

These receivables can be due from corporates and other buyers. The TReDS platform will bring all the participants together for facilitating uploading, accepting, discounting, trading and settlement of the invoices/bills of MSMEs, the release added.

“With the in-principle authorisation provided by RBI to set up TReDS, BSE Tech will now have the capability to provide an option to MSME to manage their working capital more efficiently through the TReDS platform,” said Ashishkumar Chauhan, MD and CEO of BSE.

BSE Technologies works for e-enabling the businesses in financial services sectors and is a provider of IT solutions with a focus on commodities, banking and financial services markets in India. PTI SRS BAL BAL

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BSE Tech gets RBI in-principle nod to set up, operate Trade Receivables Discounting System, BFSI News, ET BFSI

October 6, 2021 root Personal Finance

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Leading bourse BSE on Tuesday said its arm BSE Technologies Pvt Ltd (BSE Tech) has received in-principle approval from the central bank to set up and operate Trade Receivables Discounting System (TReDS). The TReDS business of BSE will commence only after the receipt of final approval and certificate of license from the RBI, as per a release.

TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of micro, small and medium enterprises (MSMEs) through multiple financiers.

These receivables can be due from corporates and other buyers. The TReDS platform will bring all the participants together for facilitating uploading, accepting, discounting, trading and settlement of the invoices/bills of MSMEs, the release added.

“With the in-principle authorisation provided by RBI to set up TReDS, BSE Tech will now have the capability to provide an option to MSME to manage their working capital more efficiently through the TReDS platform,” said Ashishkumar Chauhan, MD and CEO of BSE.

BSE Technologies works for e-enabling the businesses in financial services sectors and is a provider of IT solutions with a focus on commodities, banking and financial services markets in India. PTI SRS BAL BAL

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Bank	Women	Others	Effective Rate of Interest	Offer valid upto
SBI	–	–	6.70% onwards	–
ICICI Bank	–	–	6.70% onwards	–
Yes Bank	6.65% onwards (salaried)	–	6.70% onwards	1-Oct to 31 Dec 2021
Kotak Mahindra Bank	–	–	6.50% onwards	10-Sep to 8-Nov-21
Punjab National Bank	–	–	6.60% onwards