Reserve Bank of India – Tenders

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Reserve Bank Staff College, Chennai invites E-Tenders from the eligible empanelled contractors of Reserve Bank of India, Chennai for the work of “Electrical Renovation of 30 Rooms in Old Hostel Block at Reserve Bank Staff College, Chennai”.

E-Tenders comprising duly filled in details of both Part-I and Part II specifications of the tender should be uploaded in MSTC website under RBI portal not later than the date and time as indicated in the Schedule of Tender. The estimated cost of the work is Rs 23.00 Lakh. Tenderers shall submit tender proposal complete in all respect. Tenderers shall submit tender proposal along with refundable EMD of ₹46,000/-, as prescribed in the tender. The bids will be opened electronically on October 11, 2021 at 03.00 PM In the event of any date indicated above being declared a Holiday, the next working day shall become operative for the respective purpose mentioned herein.

Tender document can be downloaded from website www.rbi.org.in and www.mstcecommerce.com. Any amendment(s) / corrigendum / clarifications with respect to this tender shall be uploaded on the website / e-portal only. The tenderer should regularly check the above website / e-portal for any Amendment / Corrigendum / Clarification on the above website and submit bid after verification of the same. The Bank reserves the right to reject any or all the tenders without assigning any reason thereof.

Chief General Manager/ Principal
Reserve Bank Staff College
359 Anna Salai, Teynampet
Chennai – 600 018


SCHEDULE OF TENDER (SOT) SCHEDULE OF TENDER (SOT)

a. e-Tender No. RBI/RBSC/164/21-22/ET/164
b. Name of Tender Electrical Renovation of 30 Rooms in Old Hostel Block at Reserve Bank Staff College, Chennai.
c. Mode of Tender e-Procurement System
(Online Part I –Techno-Commercial Bid and Part II – Price Bid through www.mstcecommerce.com/eprochome/rbi)
d. Date of Notice Inviting Tender (NIT) available to parties to download September 20, 2021 from 2.00 P M
e. Earnest Money Deposit Rs 46,000/- from each bidder
f. Pre-bid Meeting 3.00 P M. on September 27, 2021 at Seminar Hall, Reserve Bank Staff College, 359, Anna Salai, Teynampet, Chennai – 600018.
g. Date of Starting of e-Tender for submission of on line Techno-Commercial Bid and price Bid at www.mstcecommerce.com/eprochome/rbi September 29, 2021 from 02.00 P M
h. Date of closing of online e-tender for submission of Techno-Commercial Bid & Price Bid. October 11, 2021 at 02.00 P M
i. Date/ time/Venue of opening of Tender Part I & II October 11, 2021 at 03.00 P M at Reserve Bank Staff College.
j. Transaction Fee Payment of Transaction fee as mentioned in the MSTC portal through MSTC payment gateway through /NEFT/RTGS in favour of MSTC LIMITED
k. Address for Communication The Principal
Reserve Bank Staff College
359, Anna Salai, Teynampet,
Chennai 600 018
e-mail:- principalrbsc@rbi.org.in

Tender document can be downloaded from RBI website – www.rbi.org.in and www.mstcecommerce.com. Any amendment(s) / corrigendum / clarifications with respect to this tender shall be uploaded on the website / e-portal only. The tenderer should check the above website / e-portal for any Amendment / Corrigendum / Clarification before submitting the bid. The Employer is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The College reserves the right to reject any or all the tenders without assigning any reason thereof.

The Chief General Manager/Principal
Reserve Bank Staff College
359, Anna Salai, Teynampet
Chennai

September 20, 2021

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Reserve Bank of India – Speeches

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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 will conduct a Variable Rate Reverse Repo auction on September 21, 2021, Tuesday, as under:

Sl. No. Notified Amount
(₹ crore)
Tenor
(day)
Window Timing Date of Reversal
1 50,000 3 12:30 PM to 1:00 PM September 24, 2021
(Friday)

2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

Ajit Prasad
Director   

Press Release: 2021-2022/889

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Top 5 Public Sector Banks Promising Good Returns On 5 Year Fixed Deposits

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Union Bank of India

With effect from 1st September 2021, Union Bank of India has revised interest rates on its fixed deposit. After the most recent revision, the bank is now offering an interest rate of 3.00% to 5.40% to the general public and 3.50% to 5.90% to senior citizens on deposits of less than Rs 2 Cr. The latest interest rates of the bank on fixed deposits are mentioned below.

Period Regular Interest Rate Senior Citizen Interest Rate
7 – 14 Days 3.00% 3.50%
15 – 30 Days 3.00% 3.50%
31 – 45 Days 3.00% 3.50%
46 – 90 Days 3.50% 4.00%
91 – 120 Days 3.75% 4.25%
121 to 180 Days 4.30% 4.80%
181 Days to less than 1 Year 4.40% 4.90%
1 Year 5.00% 5.50%
>1 Year to 2 Years 5.10% 5.60%
>2 Year to 3 Years 5.30% 5.80%
>3 Years to 5 Years 5.40% 5.90%
>5 Years to 10 Years 5.50% 6.00%
Source: Bank Website, w.e.f. 01/09/2021

Punjab National Bank

Punjab National Bank

Punjab National Bank has revised interest rates on single domestic / NRO / NRE Term Deposits (TD) of less than Rs 2 Cr, with effect from 01.08.2021. For both regular and senior citizens, the latest interest rates on fixed deposits of the bank are listed below.

Period ROI (% p.a.) For Senior Citizen ROI (% p.a.)
7 to 14 days 2.9 3.4
15 to 29days 2.9 3.4
30 to 45 days 2.9 3.4
46 to 90 days 3.25 3.75
91 to 179 days 3.8 4.3
180 days to 270 Days 4.4 4.9
271 days to less than 1 year 4.4 4.9
1 year 5 5.5
above 1 year & upto 2 years 5 5.5
above 2 year & upto 3 years 5.1 5.6
above 3 year & upto 5 years 5.25 5.75
above 5 years & upto 10 years 5.25 5.75
Source: Bank Website, W.E.F. 01.08.2021

4 Private Sector Banks That Revised Their Interest Rates On FD In September 2021

State Bank of India

State Bank of India

The largest public sector lender of our country State Bank of India (SBI) had revised the interest rate on its fixed deposits which are in force from 8th January 2021. Following the latest revision, SBI is now promising an interest rate of 2.90% to 5.40% to the general public and 3.40% to 6.20% to senior citizens on deposits of less than Rs 2 Cr.

Tenors Revised Rates For Public (in % p.a.) Existing Rates for Senior Citizens (in % p.a.)
7 days to 45 days 2.9 3.4
46 days to 179 days 3.9 4.4
180 days to 210 days 4.4 4.9
211 days to less than 1 year 4.4 4.9
1 year to less than 2 year 5 5.5
2 years to less than 3 years 5.1 5.6
3 years to less than 5 years 5.3 5.8
5 years and up to 10 years 5.4 6.2
Source: Bank website, w.e.f. 08.01.2021

Punjab & Sind Bank

Punjab & Sind Bank

Punjab & Sind Bank has recently revised interest rates on its fixed deposit which are in force from 16th September 2021. The following are the current interest rates on domestic term deposits, NRO accounts, capital gain accounts scheme 1988, recurring deposit scheme, and PSB fixed deposit tax-saver scheme of a deposit amount of less than Rs 2 Cr.

Maturity ROI (% p.a.) For Senior Citizen ROI (% p.a.)
7 – 14 Days 3 3.5
15 – 30 Days 3 3.5
31 – 45 Days 3 3.5
46 – 90 Days 3.7 4.2
91 – 120 Days 3.9 4.4
121-150 Days 3.9 4.4
151 – 179 Days 3.9 4.4
180 – 269 Days 4.45 4.95
270 – 364 Days 4.5 5
1 Year – 2 Years 5.05 5.55
Above 2 Year 5.15 5.65
3 Years – 5 Years 5.3 5.8
> 5 Year – 10 Years 5.3 5.8
Source: Bank Website, w.e.f. 16/09/2021

Top 4 Private Sector Banks Promising Interest Up To 7% On 5 Year Fixed Deposits

Jammu & Kashmir Bank

Jammu & Kashmir Bank

For Domestic Term Deposits of less than Rs. 2.00 Crore, Jammu & Kashmir Bank is offering the following interest rates which are in force from October 11, 2020.

Maturity Period ROI (% p.a.) For Senior Citizen ROI (% p.a.)
7 days to 30 days 3.00% 3.50%
31 days to 45 days 3.10% 3.60%
46 days to 90 days 3.25% 3.75%
91 days to 180 days 4.00% 4.50%
181 days to 270 days 4.40% 4.80%
271 days to less than 1 Year 4.50% 5.00%
1 year to less than 2 years 5.10% 5.60%
2 years to less than 3 years 5.20% 5.70%
3 years to less than 5 years 5.30% 5.80%
5 years to less than 10 years 5.30% 5.80%
Source: Bank website, w.e.f October 11, 2020



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RBI to conduct 7-day Variable Rate Reverse Repo auction under LAF on September 21, 2021

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The Reserve Bank of India will conduct a Variable Rate Reverse Repo auction on September 21, 2021, Tuesday, as under:

Sl. No. Notified Amount
(₹ crore)
Tenor
(day)
Window Timing Date of Reversal
1 1,00,000 7 10:30 AM to 11:00 AM September 28, 2021
(Tuesday)

2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

Ajit Prasad
Director   

Press Release: 2021-2022/888

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Top 7 Stocks In Focus This Week; Stocks Declaring Dividends, Stock Split and Bonus Issue

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Dividend Stocks This Week

Voltamp

Voltamp Transformers, founded in 1967, is a Small Cap business in the Power sector with a market capitalization of Rs 1,438.81 crore. The Stock returned 59.55 percent over three years, compared to 50.53 percent for the Nifty Smallcap 100. Over a three-year period, the stock had a 59.55 percent return, compared to 58.51 percent for the S&P BSE Industrials. The ex-dividend date for the company is September 22, 2021, and the dividend is Rs 25 per share.

Shakti Pumps

Shakti Pumps (India), founded in 1995, is a Small Worth company in the Irrigation & Allied Services industry with a market cap of Rs 1,314.92 crore. The stock returned 74.94 percent over three years, compared to 50.53 percent for the Nifty Smallcap 100.

The ex-dividend date for the company is September 21, 2021, and the dividend is Rs 8 per share.

Mold-Tek Packaging

Mold-Tek Packaging

Mold-Tek Packaging, founded in 1997, is a Small Cap business in the Plastics industry with a market capitalization of Rs 1,612.20 crore. The stock returned 73.72 percent over three years, compared to 50.53 percent for the Nifty Smallcap 100. The company’s ex-dividend date is September 22, 2021, with a dividend of Rs4 per share.

Since September 17, 2009, Mold-Tek Packaging Ltd. has issued 23 dividends. Mold-Tek Packaging Ltd. has declared an equity dividend of Rs 3.00 per share in the last 12 months. This translates to a dividend yield of 0.54 percent at the current share price of Rs 553.85.

Polypex

Polyplex Corporation Ltd., founded in 1984, is a Small Cap business in the Packaging industry with a market capitalization of Rs 5,472.96 crore. In comparison to the Nifty Midcap 100, which returned 58.9% over three years, the stock returned 175.59%. With a dividend of Rs 17 per share, the company’s ex-dividend date is September 24, 2021.

Since September 5, 2000, Polyplex Corporation Ltd. has declared 38 dividends.

Polyplex Corporation Ltd. has declared an equity dividend of Rs 148.00 per share in the last 12 months.

Bonus Stocks This Week

Bonus Stocks This Week

ANG Lifescience

ANG Lifesciences India Ltd., founded in 2006, is a Small Worth business in the Hospitals & Allied Services sector with a market cap of Rs 332.82 crore. The stock returned 1237.71 percent over three years, compared to 50.53 percent for the Nifty Smallcap 100. The company spent Rs 1.66 crore on investing operations, up 114.66 percent year on year. Over a three-year period, the stock returned 1237.71 percent, compared to 67.5 percent for the S&P BSE Healthcare index.

The Bonus issue record date for the Company is September 23, 2021, with a Bonus Ratio of 1 share(s) for every 1 share held. The bonus issue will expire on September 22nd.

Sportking India

Sportking India

Sportking India, founded in 1989, is a Textiles-focused Small Cap company with a market capitalization of Rs 1,601.90 crore. 2.44 percent decrease in sales. For the first time in three years, the company’s revenue has decreased. The stock returned 1238.63 percent over three years, compared to 50.53 percent for the Nifty Smallcap 100.

The Bonus issue record date for the Company is September 24, 2021, with a Bonus Ratio of 3 share(s) for every 1 share held. The bonus issue will expire on September 23rd.

Stock Split This Week

Stock Split This Week

Artemis Medicare

The company Artemis Medicare Services Ltd. was founded in 2004. The current share price is 384. It currently has a market capitalization of Rs 503.1 crore. The company reported gross sales of Rs. 4020.64 crores and a total income of Rs. 4056.09 crores in the most recent quarter.

September 23, 2021, Artemis Medicare Services Ltd. has split the face value once. In 2016, Artemis Medicare Services Ltd. divided the face value of its shares from Rs 10 to Rs 1 for the first time. From September 23, 2021, the stock will be trading ex-split.

Stocks Declaring Dividends, Stock Split and Bonus Issue

Stocks Declaring Dividends, Stock Split and Bonus Issue

Stocks Announcement
Voltamp Transformers Dividend
Shakti Pumps Dividend
Mold-Tek Packaging Dividend
Polyplex Dividend
ANG Lifescience Bonus Issue
Sportking India Bonus Issue
Artemis medicare Stock Split



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Stocks To Buy From The Financial & IT Space, According To Sharekhan

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Buy Mastek for a price target of Rs 3840

Buy Mastek for a price target of Rs 3840

The broking firm has set an upside target of Rs 3,840 on the stock of Mastek, as against the current market price of Rs 3,000.

According to Sharekhan, the company has cited that the deal pipeline in the UK public sector remains strong on the back of higher spends on transformation.

“Though the management expects a delay in deal closures in the UK National Health Service, overall order bookings would remain strong given digital adoption in other departments of UK government. Mastek has qualified for seven deals (size in the range of GBP 3- 15 million) in the GBP 800-million digital capability framework by UK National Health Service, some of them can be converted during Q4FY2022,” the brokerage has said.

Mastek aims to double its revenue over next three years, implying a strong 26% CAGR, which is ahead of our estimates. Further, the management aspires to achieve $1 billion in revenues by the second half of this decade, versus the current annual revenue run-rate of $281 million.

Sharekhan remains optimistic on Mastek

Sharekhan remains optimistic on Mastek

According to the brokerage, the company is progressing well in terms of deepening its relationship in existing customers in UK public sector, deal sizes and tenure, expanding presence in the US and integrated solutions.

“Over the last two years, there is a significant upward movement in EBITDA margins (to 21.2% in FY2021 from 14.5% in FY2020) and return ratios as well. We expect the US Dollar revenues and earnings to post a CAGR of 22% and 27%, respectively over FY2021-FY2024E. Net cash can be utilised for inorganic expansion. At current market price, the stock trades at a valuation of 26x/21x its FY2023E/FY2024E EPS, justified strong earnings growth potential and higher RoEs. Given a healthy balance sheet and healthy deal pipeline, we maintain a Buy on Mastek with a revised price target of Rs. 3,840,” the brokerage has said.

Buy, Nippon Life India Asset Management

Buy, Nippon Life India Asset Management

Sharekhan is also optimistic on the stock of Nippon Life India Management. “With improved operating performance and stable market share of 7% over the past four quarters, we believe that can clock better earnings growth going ahead. Nippon India Life Management has performed reasonably well after its rebranding in 2019, gaining business traction and profitability, through a strategic focus on retail investors and a strong presence in B-30 cities. It has also reactivated more than 1,000 corporate accounts,” the brokerage has said.

Focus on retail investors aided by an extensive branch network bodes well for growth. Besides, the company intends to launch newer and attractive products going ahead, which is a further positive.

“We maintain a Buy rating on the stock of Nippon Life India Management India with a revised price target of Rs. 502. Stock has performed well giving year-to-date returns of 45%,” the brokerage has said.

Disclaimer

Disclaimer

The above stocks are picked from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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Stocks To Buy From The Financial & IT Space, According To Sharekhan

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Buy Mastek for a price target of Rs 3840

The broking firm has set an upside target of Rs 3,840 on the stock of Mastek, as against the current market price of Rs 3,000.

According to Sharekhan, the company has cited that the deal pipeline in the UK public sector remains strong on the back of higher spends on transformation.

“Though the management expects a delay in deal closures in the UK National Health Service, overall order bookings would remain strong given digital adoption in other departments of UK government. Mastek has qualified for seven deals (size in the range of GBP 3- 15 million) in the GBP 800-million digital capability framework by UK National Health Service, some of them can be converted during Q4FY2022,” the brokerage has said.

Mastek aims to double its revenue over next three years, implying a strong 26% CAGR, which is ahead of our estimates. Further, the management aspires to achieve $1 billion in revenues by the second half of this decade, versus the current annual revenue run-rate of $281 million.

Sharekhan remains optimistic on Mastek

Sharekhan remains optimistic on Mastek

According to the brokerage, the company is progressing well in terms of deepening its relationship in existing customers in UK public sector, deal sizes and tenure, expanding presence in the US and integrated solutions.

“Over the last two years, there is a significant upward movement in EBITDA margins (to 21.2% in FY2021 from 14.5% in FY2020) and return ratios as well. We expect the US Dollar revenues and earnings to post a CAGR of 22% and 27%, respectively over FY2021-FY2024E. Net cash can be utilised for inorganic expansion. At current market price, the stock trades at a valuation of 26x/21x its FY2023E/FY2024E EPS, justified strong earnings growth potential and higher RoEs. Given a healthy balance sheet and healthy deal pipeline, we maintain a Buy on Mastek with a revised price target of Rs. 3,840,” the brokerage has said.

Buy, Nippon Life India Asset Management

Buy, Nippon Life India Asset Management

Sharekhan is also optimistic on the stock of Nippon Life India Management. “With improved operating performance and stable market share of 7% over the past four quarters, we believe that can clock better earnings growth going ahead. Nippon India Life Management has performed reasonably well after its rebranding in 2019, gaining business traction and profitability, through a strategic focus on retail investors and a strong presence in B-30 cities. It has also reactivated more than 1,000 corporate accounts,” the brokerage has said.

Focus on retail investors aided by an extensive branch network bodes well for growth. Besides, the company intends to launch newer and attractive products going ahead, which is a further positive.

“We maintain a Buy rating on the stock of Nippon Life India Management India with a revised price target of Rs. 502. Stock has performed well giving year-to-date returns of 45%,” the brokerage has said.

Disclaimer

Disclaimer

The above stocks are picked from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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Rupee slumps 26 paise to close at 73.74 against US dollar, BFSI News, ET BFSI

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MUMBAI: The Indian rupee fell by 26 paise to close at 73.74 (provisional) against the US dollar on Monday, tracking a strong American currency in the overseas market and muted trend in domestic equities.

At the interbank foreign exchange market, the local currency opened at 73.82 and finally settled for the day at 73.74 a dollar, down 26 paise over its previous close.

In the previous session on Friday, the rupee had settled at 73.48 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.27 per cent higher at 93.44.

“The Indian rupee started the week on back foot as markets are in a risk-averse mood, triggered by the worries over the Chinese property developer Evergrande’s debt crisis,” said Dilip Parmar, Research Analyst, HDFC Securities.

“Volatility buyers are active in the forex markets as this week will witness fourteen central banks, apart from crucial FOMC, rate decisions and elections in Canada and Germany,” Parmar said.

The INR/USD pair is expected to find resistance around 74 while hold support at 73.40, he noted.

Brent crude futures, the global oil benchmark, fell 1.79 per cent to USD 73.99 per barrel.

On the domestic equity market front, the BSE Sensex ended 524.96 points or 0.89 per cent lower at 58,490.93, while the broader NSE Nifty declined 188.25 points or 1.07 per cent to 17,396.90.

Foreign institutional investors were net buyers in the capital market on Friday as they purchased shares worth Rs 1,552.59 crore, as per exchange data.



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PNB earns Rs 170 crore in FY21 by levying charges on non-maintenance of minimum balance, BFSI News, ET BFSI

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State-owned Punjab National Bank (PNB) collected nearly Rs 170 crore by levying charges on customers for not maintaining the required minimum balance in their accounts during 2020-21, according to RTI information. The lender’s revenue earned from such charges stood at Rs 286.24 crore in 2019-20.

Banks levy such charges on a quarterly basis during a fiscal year.

The quarterly average balance (QAB) in the April-June period of 2020-21 stood at Rs 35.46 crore (both on savings and current account); while no such charges were levied in the second quarter of FY21.

In the third and fourth quarters, the QAB non-maintenance charges stood at Rs 48.11 crore and Rs 86.11 crore, respectively, PNB said in a reply to Right to Information (RTI) sought by Madhya Pradesh-based social activist Chandra Shekhar Gaur.

Also, the lender earned Rs 74.28 crore in the form of ATM transaction charges during the year. In the preceding 2019-20, it was Rs 114.08 crore.

The bank said it waived the ATM transaction charges during the first quarter of 2020-21 vide an IBA letter and government guidelines.

In response to a query on the number of operative and inoperative accounts, the lender said 4,27,59,597 accounts were dormant as of June 30, 2021, while a total of 13,37,48,857 accounts were operative.



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