Author: root

Insurers look to IRDAI to hike premium

Banking & Finance

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Amid mounting losses facing general insurers, the insurance regulator is understood to be examining the proposal to increase the premium for Covid-specific cover, but a decision is yet to be taken.

According to sources close to the development, the Insurance Regulatory and Development Authority of India (IRDAI) is set to call a meeting of the actuaries to further discuss the issue of re-pricing of Corona Rakshak and Corona Kavach policies.

Non-life insurers, which had earlier also made a representation to increase the premium for these policies, have now pointed to their Q1, saying it is difficult to survive without a hike in the rates of these policies. “Non-life insurers are bleeding on the back of huge claims on health covers due to Covid. The combined ratios of many private sector general insurers are as high as 125 per cent.

“A review of the rates of these policies is much needed, especiallysince their premium is so low,” noted the head of a general insurance company.

Another insurance executive said companies are awaiting further word from the IRDAI to come out with revised rates. “There has been some discussion, but we are still waiting for further directions,” he said.

The Corona Kavach and Corona Rakshak policies were launched last year by all insurers to provide Covid-specific cover to customers.

Corona Kavach is a family health insurance policy for Covid-19, while Corona Rakshak is a defined benefit policy. Premiums for these policies are as low as ₹150 in some cases.

The third wave

The second wave of the pandemic led to a rise in claims by at least two to three times for health insurance compared to the first wave last year, and insurers are now preparing for a third wave as well.

Some companies have also indicated that they may increase premiums for health cover across the board this year.

Insurance companies have paid Covid-related health claims of over ₹15,000 crore since the start of the pandemic.

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Reserve Bank of India – Press Releases

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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Bounce rates for auto-debit transactions fall in July

Banking & Finance

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In an indication of easing financial stress amongst borrowers, the number of unsuccessful auto-debit requests declined in July, reversing a three-month trend that started with the second wave of the pandemic and localised lockdowns.

Data with the National Payments Corporation of India from the National Automated Clearing House (NACH) reveals that the number of unsuccessful auto-debit requests in July was at its lowest level this fiscal year.

Of the total auto-debit transactions of 8.64 crore in July 2021, 2.87 crore were unsuccessful or returned while 5.77 crore were successful. This translated into a bounce rate of 33.23 per cent in July.

Elevated bounce rates

Auto debit bounce rates have remained elevated since the start of this fiscal year at 34.05 per cent in April and then increasing to 35.9 per cent in May and 36.5 per cent in June. It was at a low of 32.8 per cent in March.

Auto debit transactions are typically done by customers for recurring payments such as EMIs and insurance premiums. The data does not capture intra-bank transactions.

With the second wave of the pandemic affecting normal life and economic activities, many banks and NBFCs had reported rising stress and a drop in payments by their borrowers in the first quarter of the fiscal as a large part of the economy was impacted. Some had also attributed the drop to widespread infections and difficulties in collections.

Recovery by June-end

However, by the end of June, collection efficiency had begun to improve and it further recovered in July.

“Non-banks reported a steep deterioration in asset quality (stressed loans up 75-1,150 basis points quarter on quarter) during the quarter, owing to lower collections in April and May 2021. Collections picked up in June 2021 and further increased in July 2021,” said a report by Kotak Institutional Equities, adding that early trends in the second quarter are encouraging, though there may be wide variations in the pace of recovery.

The report further noted that banks also reported a higher level of upgradations as banks were able to resume collections and recoveries towards the last few weeks of the first quarter.

Equitas Small Finance Bank recently said that collection efficiency in July improved to 104.62 per cent from 83.49 per cent in June.

Nitin Chugh, MD and CEO, Ujjivan SFB, said that collection efficiency recovered to 78 per cent in June 2021 against 94 per cent in March, and further recovered to 93 per cent in July.

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Spice Money sets up 1 lakh micro-ATMs in rural India

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Spice Money on Tuesday said it has established a network of one lakh micro-ATMs (mATM) operating across rural India.

“During the pandemic induced lockdown, micro-ATMs emerged as the key driver to assist people with cash withdrawal and other essential services. Spice Money’s mATM network grew multifold from just over 18,000 in February 2020 to over 1,00,000 as on today,” it said in a statement.

The company covers 95 per cent of the rural pincodes in India with more than 7 lakh Adhikaris on its network, maximising the reach of the micro-ATMs to the financially underserved and cash-driven parts of the nation, it further said.

Spice Money witnesses over ₹1,000 crore worth of transaction on a monthly basis on its mATM network.

“While establishing a lakh – strong ATM network is a milestone for us, we will continue growing our reach and supporting more rural customers in their financial needs,” said Sanjeev Kumar, Chief Executive Officer, Spice Money.

Sonu Sood, Brand Ambassador and Advisory Board Member, Spice Money noted that micro-ATMs can play a crucial role in bridging the gap in financial services by bringing the convenience of banking transactions right to the next door kirana stores in rural India.

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Reserve Bank of India – Press Releases

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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5 Big & Most Recent Updates By SBI For Loan And Fixed Deposit Customers

Personal Finance

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Investment

oi-Vipul Das

|

The largest public sector bank of our country State Bank of India (SBI) has recently unveiled a plethora of deals for its customers. Whether you are a customer going to apply for a home loan, car loan, gold loan, personal loan, or want to get higher returns on your deposit, SBI has now something big deal for you that you surely can’t miss. To honor India’s Independence Day, SBI recently announced lower interest rates, waived processing fees on loans, special offers for taxpayers, and higher deposit rates on a special deposit for specified tenures. Ranging from loans to a new deposit scheme, here we have compiled all the deals of SBI for your convenience.

5 Big & Most Recent Updates By SBI For Loan And Fixed Deposit Customers

SBI Home Loan Offers

For customers who want to apply for a home loan, SBI has waived off processing fees. Via its Twitter handle the bank has said that “This Independence Day, swipe right on your dream home with SBI Home Loan. Customers can get a home loan with zero processing fees and an interest rate concession of 5bps if they apply via YONO. On the other hand, women customers applying for a home loan with SBI will also get an interest rate concession of 5 bps. SBI home loan interest rates currently start from 6.70% and customers can also give a missed call on 7208933140 to apply for the same.

SBI Car Loan Offers

For customers going to apply for a car loan, personal loan, or gold loan with SBI, the largest public sector bank is also offering a 100 percent processing fee waiver. The bank via its Twitter handle has unveiled that “Get drenched in happiness, as it’s raining offers with SBI. Avail a 100% Processing Fee waiver on Car Loan, Gold Loan and Personal Loan.” Customers who apply for a car loan through YONO will receive a special rate discount of 25 basis points from SBI. Customers of SBI can receive a car loan with an interest rate as low as 7.5 percent annually. Not only these, customers applying for a car loan with SBI can also get up to 90% on-road financing according to the official website of SBI.

SBI Gold Loan Offers

For customers going to apply for a gold loan with SBI, the bank is also offering an interest rate concession of 75 bps. Currently, SBI is offering an interest rate of 7.5% per annum on the personal gold loan scheme of the bank. For customers applying for a gold loan via YONO will also get the benefit of zero processing fee. SBI is offering gold loans with a minimum amount of Rs 20,000 thousand up to Rs 50 lacs with a margin of 25% on gold loan, 25% on liquid gold loan, 35% on bullet repayment gold loan.

SBI Offer For Taxpayers

Taxpayers who want to file their IT returns can do it for free if they apply via YONO. Regarding the same, the largest commercial giant has recently said via its Twitter handle that “SBI marks India’s 75th Independence Day with a special offer for you. File your Income Tax Return with Tax2win on YONO for FREE.” Taxpayers will also get CA-assisted service starting at Rs 199. To file your IT return for free just login to YONO SBI >> shop and order >> Tax & Investment >> Tax2win.

SBI Platinum Deposits

Customers of SBI can now earn up to 0.15 percent more on Term Deposits with terms of 75 days, 75 weeks, or 75 months. This exclusive offer is only available till September 14, 2021. To commemorate India’s 75th year of independence, the State Bank of India (SBI) has launched platinum deposits. In addition, the bank has stated on its Twitter account that “It’s time to celebrate India’s 75th year of Independence with Platinum Deposits. Exclusive benefits for Term Deposits and Special Term Deposits with SBI.” To know more about this new deposit scheme, please click here.

Story first published: Tuesday, August 17, 2021, 18:14 [IST]



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Reserve Bank of India – Press Releases

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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3 Banking Stocks To Bet On In August From Angel Broking For Gains Of Up To 32%

Personal Finance

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1. Federal Bank: Buy for gains of 32%

Angel Broking is bullish on Federal Bank, an old generation private sector bank, for potential gains of 32%. The target price set out on the scrip is Rs. 110 while its last traded price is Rs. 83.3

Asset quality was managed well despite Covid second wave in Q1Fy22

The banker despite the second Covid wave has posted decent Q1FY 22 results with NI/ PPOP increasing by 9.4%/21.8% YoY. Provisioning for the period however went up by 22% YoY, impacting PAT, which declined 8.4% YoY. Asset quality somewhat saw a drag, nonetheless considering the acute Covid second wave, the banking entity held it well during the period under review. “We expect asset quality to improve from Q2FY22 given continued opening up of the economy. We expect the Federal bank to post NII/PPOP/PAT growth of 22.8%/23.7%/23.2% between FY20-23 and remain positive on the bank”, said the broking firm in its report.

Key financials

Y/E NII NIM PAT EPS ABV ROA ROE P/E P/ABV
March (` cr) (%) (` cr) (`) (`) (%) (%) (x) (x)
FY2022E 6604 3.1 2107 10.6 84.3 1 12.3 8 1
FY2023E 8612 3.4 2884.4 14.5 97.7 1.1 14.7 5.9 0.9

2. HDFC bank: Buy for 23% gains

2. HDFC bank: Buy for 23% gains

Another stock pick from the banking space by Angel Broking is the country’s largest private sector banking entity, HDFC Bank. Angel Broking has given a price target of Rs. 1859, implying an upside of over 22% from the last traded price of around Rs. 1516.

Loan segment registered growth by 14% YoY pushing NII, PPOP and PAT higher for the Q1FY22 period

Asset quality at the bank suffered owing to the Covid second wave backdrop, nonetheless the bank logged growth in NII, PPOP and PAT of 8.6%/18.0%/16.1% for the quarter under review despite higher provisioning, helped by loan growth of over 14% YoY for the June ended quarter of FY22. NIM also saw a decline on a sequential basis owing to change in product mix and interest reversals. Furthermore, despite the loss of 35-40 days of collections, the management at the bank expects good recoveries from slippages in the second quarter that should probably cut down on credit costs going ahead.

“Given best in class asset quality and expected rebound in growth from Q2FY22 we are positive on the bank given reasonable valuations at 3.0xFY23 adjusted book which is at a discount to historical averages”, added the brokerage.

Financials

Y/E NII NIM PAT EPS ABV ROA ROE P/E P/ABV
March (` cr) (%) (` cr) (`) (%) (x) (x) (x) (x)
FY2022E 73930 4 36213 65.5 419 1.9 16.8 22.8 3.6
FY2023E 86972 4.1 43037 77.9 496 2 16.9 19.2 3

3. Shriram City Union Finance: Buy for 8% gains

3. Shriram City Union Finance: Buy for 8% gains

Angel Broking has recommended a ‘Buy’ on the NBFC, Shriram City Union Finance that lends to small businesses, involving high margin. Furthermore, the firm extends auto, 2-wheeler, gold, and personal loans. Angel Broking expects the stock to hit a target of Rs. 2100 i.e. an 8% gain from the scrip’s last traded price.

Asset quality threw a positive surprise in Q1FY22, profits improved, provisioning went down during the quarter

Aided by an improved asset quality scenario, the company posted good quarterly numbers for the June ended quarter of FY22.. NII went higher by 5.23% YoY to Rs. 920 crore while PPOP was up by 0.4% YoY to Rs. 569 crores. Provisioning reduced by over 6% and hence profitability inched higher by 8% YoY.

“Shriram City Union reported a strong 30% sequential decline in disbursement for the quarter which led to flattish AUM at ~ Rs. 29,599 crore. The company reported only marginal deterioration on asset quality front as Gross stage 3 loans increased by 54bps qoq to 6.91% while net stage 3 for the quarter increased to 3.46% while PCR ratio stood at 49.9%”, noted the brokerage.

Financials

Y/E NII NIM PAT EPS ABV ROA ROE P/E P/ABV
March (` cr) (%) (` cr) (`) (%) (x) (x) (x) (x)
FY2022E 4312 12.1 1372 207.9 1320 3.8 15.6 8.7 1.4
FY2023E 5036 12.6 1730 262.2 1564.2 4.3 16.7 6.9 1.2

Disclaimer:

Disclaimer:

The above stocks are taken from the brokerage report of Angel Broking and need not be taken as investment advice. Equities are trading at record highs and you need to evaluate your own financial standing, risk profile,goals- both short term and long term, before taking any investment call.

GoodReturns.in



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Reserve Bank of India – Tenders

Tenders

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Aug 17, 2021 Corrigendum – Next Generation Treasury Application (NGTA) – Issuance of RFP to shortlisted Bidders Sep 07, 2021 149 kb Aug 17, 2021 Providing Catering and Maintenance Services at the Officers’ Lounge and Dining Room (OLDR) and the Staff Canteen at Reserve Bank of India, Chandigarh Sep 13, 2021 PDF document 816 kb Aug 16, 2021 Providing Services of Sniffer Dog Squad at the office premises of Reserve Bank of India, Bhubaneswar Sep 16, 2021 PDF document 644 kb Aug 16, 2021 Renovation of 6 nos. of Class III Flats – Electrical Renovation and Rewiring work at Bank’s Staff Quarters Vidyut Marg, Bhubaneswar Sep 24, 2021 PDF document 900 kb Aug 16, 2021 Empanelment of Tailoring Firms for Stitching of Summer and Winter Uniform for Eligible Staff of Reserve Bank of India, Bengaluru Sep 06, 2021 PDF document 465 kb Aug 16, 2021 Minutes of the Pre-bid meeting – General repairs and repainting of external surface of Bank’s residential buildings, Sector 30A, Chandigarh Aug 27, 2021 PDF document 104 kb Aug 16, 2021 AMC of Plumbing and sanitary works at BMOP and residential colonies, RBI Patna Sep 06, 2021 PDF document 188 kb Aug 16, 2021 AMC of Carpentry works at Bank’s main office premises and residential colonies, RBI Patna Sep 06, 2021 PDF document 204 kb Aug 16, 2021 Supply, installation, testing and commissioning of Air Handling Unit (AHU) system at Ground Floor (Vault area) of Bank’s Main Office Building, RBI, Bhopal Sep 24, 2021 PDF document 1204 kb Aug 13, 2021 Minutes of the Pre-Bid Meeting cum Corrigendum – Digitisation of old Archival Records at Reserve Bank of India Archives, College of Agricultural Banking, Pune Aug 25, 2021 PDF document 122 kb Aug 13, 2021 Empanelment of Contractors for Civil, Electrical, Architect and Other Works, Nagpur Sep 13, 2021 PDF document 846 kb Aug 12, 2021 Service contract for Maintenance, Housekeeping and Catering arrangements at (Reserve Bank of India) Visiting Officers’ Flats (VOFs), Transit Holiday Homes (THHs) and Medical Flats situated at Bhubaneswar Sep 17, 2021 PDF document 680 kb Aug 12, 2021 Supply of Bio-Degradable Garbage Bags (size 15”x22” & 21”x24”) to the RBI’s Residential colonies in Jaipur Sep 06, 2021 PDF document 657 kb Aug 11, 2021 Corrigendum – Supply, Installation, Testing and Commissioning of two X-Ray Baggage Scanner Systems for Bank’s Office Building at RBI, Jammu Aug 30, 2021 PDF document 157 kb Aug 11, 2021 Minutes of Pre-Bid Meeting – Supply of 29 Nos. IP Based CCTV cameras including life time Camera license for Existing IPCCTV System at Bank’s Main Office Building, Gomti Nagar, Lucknow Aug 24, 2021 PDF document 118 kb Aug 11, 2021 Supply, Installation, Testing & commissioning (SITC) of 320 number of 130 AH VRLA, SMF batteries with fire retardant casing for Centralized UPS (2 Sets of 2X120 KVA) installed at BMOP, RBI Patna Aug 26, 2021 PDF document 215 kb Aug 10, 2021 Minutes of the Pre-bid meeting – Providing Facilities Management Services (Washroom Cleaning) at Office Buildings of Reserve Bank of India, Mumbai Aug 18, 2021 PDF document 150 kb Aug 10, 2021 Corrigendum – Providing Facilities Management Services (Washroom Cleaning) at Office Buildings of Reserve Bank of India, Mumbai Aug 18, 2021 PDF document 157 kb Aug 10, 2021 Design, Supply, Installation, testing and Commissioning of UVGI System for Air Handling Units (AHUs) at Main Office Building, Reserve Bank of India, Hyderabad Sep 02, 2021 PDF document 1174 kb Aug 10, 2021 Corrigendum – Provision of Workstations and Other Office Furniture in First Floor of Bank’s Main Office Building, Guwahati Aug 20, 2021 PDF document 192 kb Aug 09, 2021 Minutes of Pre-Bid Meeting – Comprehensive Annual Maintenance Contract (CAMC) for providing Housekeeping services at Bank’s Main Office Premises (including Annex Building and Essential Staff Quarters) and Six (06) Residential Colonies Located at Chennai Aug 19, 2021 PDF document 271 kb Aug 09, 2021 Providing Integrated Facility Management Services (IFMS) at RBI, Patto Plaza, Panaji and Bank’s residential premises at Panaji Sep 03, 2021 PDF document 643 kb Aug 09, 2021 Empanelment of Car Hiring Firm / Agencies / Companies for RBSC, Chennai Sep 07, 2021 PDF document 922 kb Aug 09, 2021 Design, Supply, Installation, testing and Commissioning of 3 no’s Passenger Lifts at Main Office Building, Reserve Bank of India, Hyderabad Aug 30, 2021 PDF document 1053 kb Aug 09, 2021 Supply, Installation, Testing & Commissioning of Chiller Plant Manager for Bank’s Main Office Premises, Kolkata Sep 01, 2021 PDF document 235 kb Aug 06, 2021 Minutes of Pre-Bid Meeting – 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 118 kb Aug 06, 2021 Empanelment of Vendors/Suppliers for Supply of Issue Department Store Items at RBI Kanpur Aug 27, 2021 PDF document 358 kb Aug 05, 2021 Design, Supply, Installation, Testing and Commissioning of 400 KVA Diesel Generator (DG) set with Acoustic enclosure and AMF panel at Bank’s Main Office Building at RBI Kanpur Sep 07, 2021 PDF document 163 kb Aug 04, 2021 Digitisation of old Archival Records at Reserve Bank of India Archives, College of Agricultural Banking, Pune Aug 25, 2021 PDF document 877 kb Aug 04, 2021 Supply of Data Entry Operators, Mumbai Aug 26, 2021 PDF document 862 kb Aug 04, 2021 Repairs and Repainting of Compound Wall, Annex Building, Scooter Parking Shed and Compound Wall at Main Office Building, RBI, Bengaluru Sep 03, 2021 PDF document 919 kb Aug 04, 2021 Supply, Installation, Testing and Commissioning of Multi zone (12 zones) Door Frame Metal Detector (DFMD) with Camera at Bank’s Main Office Building, RBI Kanpur Sep 06, 2021 PDF document 153 kb Aug 03, 2021 Conducting Energy Audit of Bank’s Office Building at Guwahati Aug 25, 2021 PDF document 715 kb Aug 02, 2021 Supply, Installation, Testing and Commissioning of 320 KVA Diesel Generator set with Acoustic enclosure and AMF panel in Bank’s Main Office Building at Chennai Sep 13, 2021 PDF document 2438 kb Aug 02, 2021 Design, Supply, Installation, Testing and Commissioning of Intelligent Analogue Addressable Fire Alarm System for Bank’s Main Office Building at Chennai Sep 13, 2021 PDF document 1487 kb Jul 30, 2021 Supply of 29 Nos. IP Based CCTV cameras including life time Camera license for Existing IPCCTV System at Bank’s Main Office Building, Gomti Nagar, Lucknow Aug 24, 2021 PDF document 670 kb Jul 30, 2021 Providing Services of Sniffer Dogs with Handlers at Reserve Bank of India, Main Office Building, Guwahati Aug 19, 2021 PDF document 1096 kb Jul 30, 2021 General repairs and repainting of external surface of Bank’s residential buildings, Sector 30A, Chandigarh Aug 27, 2021 PDF document 3128 kb Jul 29, 2021 Supply, Installation, Testing and Commissioning of two X-Ray Baggage Scanner Systems for Bank’s Office Building at RBI, Jammu Aug 30, 2021 PDF document 675 kb Jul 29, 2021 Provision of Workstations and Other Office Furniture in First Floor of Bank’s Main Office Building, Guwahati Aug 20, 2021 PDF document 1241 kb Jul 28, 2021 Addition-alteration in office area for setting up DCBR from BKC on 2nd Floor of Bank’s Main Office Building: Cabin Partitions, Gyp Board false ceiling and Internal Painting work Sep 02, 2021 PDF document 198 kb Jul 26, 2021 Supply, Installation, Testing and Commissioning of Extension of MS Pipe Line to Existing Fire Hydrant System in Open Premises at Bank’s Main Office Building, Nagpur Aug 23, 2021 PDF document 1685 kb Jul 26, 2021 Annual maintenance contract by engaging 10 electrical personnel (06 electrician & 04 helper) for maintenance of electrical installations at Reserve Bank of India, Kanpur Aug 26, 2021 PDF document 145 kb Jul 23, 2021 RFP for Outright Purchase of Office Premises in Mumbai Sep 08, 2021 PDF document 897 kb Jul 23, 2021 Renovation work in Four flats of RBI Officers’ Colony at G.S. road, Guwahati Aug 24, 2021 PDF document 2159 kb Jul 22, 2021 Annual Maintenance Contract (AMC) for Providing a Parking Attendant for parking arrangement in the Parking Areas of RBI, Main Office Building, Chandigarh Aug 19, 2021 PDF document 428 kb Jul 21, 2021 Comprehensive Annual Maintenance Contract (CAMC) for Providing Housekeeping Services to Bank’s 03 Residential Colonies Located at K.K Nagar, P.H Road and SAF-Koyambedu, Chennai Aug 19, 2021 PDF document 1733 kb Jul 21, 2021 Comprehensive Annual Maintenance Contract (CAMC) for Providing Housekeeping Services at Bank’s Main Office Premises (including Annex Building and Essential Staff Quarters), Chennai Aug 19, 2021 PDF document 1654 kb Jul 21, 2021 Comprehensive Annual Maintenance Contract (CAMC) for providing Housekeeping services to Bank’s 03 Residential Colonies Located at Anna Nagar, Besant Nagar and C.H Road, Chennai Aug 19, 2021 PDF document 742 kb Jul 20, 2021 Next Generation Treasury Application (NGTA) – Issuance of RFP to shortlisted Bidders Sep 07, 2021 PDF document 150 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 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 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 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 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 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

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SBI Life launches new age protection plan

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SBI Life Insurance announced the launch of a unique new age protection solution called ‘SBI Life eShield Next’, which ‘levels up’ the protection coverage as the insured achieves life’s major milestones.

It is an individual, non-linked, non-participating, life insurance pure risk premium product and works by ‘levelling up’ the required insurance protection, through an increase in sum assured linked to the significant ‘level-up’ milestones in one’s life, like getting married, becoming a parent or buying a new house, the insurer said in a statement.

“As we progress in life, our term insurance should be able to intelligently take care of our needs as we progress through life’s important milestones. SBI Life eShield Next, with its three plan options, offers a distinctive customization feature that caters to the evolving needs of the consumer,” said Ravi Krishnamurthy, President, SBI Life Insurance.

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