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Reserve Bank of India – Annual Report

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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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Karnataka Bank empanelled as ‘Agency Bank’ for government business

Banking & Finance

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Karnataka Bank is empanelled by the Reserve Bank of India (RBI) to act as an ‘Agency Bank’ to facilitate transactions related to the government businesses.

A media statement by the bank said on Friday that as an empanelled ‘Agency Bank’, Karnataka Bank is now authorised to undertake the government businesses such as revenue receipts and payments on behalf of the Central/State governments, pension payments in respect of Central/State governments, collection of stamp duty charges and also any other item of work specifically advised by RBI.

Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, it said: “We are privileged to be appointed by the regulator to facilitate transactions pertaining to all kinds of Government-led businesses. With pan-India presence, driven by strong and robust technology and digital platforms, we are confident of being the best choice for the Central and State governments in providing the best possible financial solutions in the most seamless manner. Further, with this arrangement, a level-playing field is being ensured and it will augur well in developing a ‘cost-lite’ liability portfolio for the bank.”

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Reserve Bank of India – Notifications

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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Prudential Norms for Off-Balance Sheet Exposures of Banks – Restructuring of derivative contracts

Notifications

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RBI/2021-22/81
DOR.MRG.39/21.04.157/2021-22

August 06, 2021

All Banks

Madam / Dear Sir,

Prudential Norms for Off-Balance Sheet Exposures of Banks – Restructuring of derivative contracts

Please refer to paragraph 2.2 of our circular DBOD.No.BP.BC.57/21.04.157/2008-09 dated October 13, 2008, in terms of which any change in any of the parameters of the original derivative contract would be treated as a restructuring.

2. In this context, it is clarified that change in the terms of a derivative contract on account of change in reference rate necessitated due to transition from LIBOR to an alternative reference rate shall not be treated as restructuring of the derivative contract provided all other parameters of the original contract remain unchanged.

Yours faithfully,

(Usha Janakiraman)
Chief General Manager

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Muthoot Finance posts 16% rise in Q1 net profit at Rs 971 cr

Banking & Finance

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Gold loan lender Muthoot Finance has posted a 16 per cent increase in its standalone profit at Rs 971 crore for Q1 of FY21, against Rs 841 crore in the corresponding period of the previous fiscal.

Consolidated PAT of the group also achieved a 14 per cent rise at Rs 979 crore against last year’s Rs 858 crore.

The loan assets of the standalone entity stood at Rs 52,614 crore compared to Rs 41,296 crore in the previous year, a growth of 27 per cent. During the quarter, the gold loan assets increased by Rs 142 crore. Consolidated loan assets under management increased by 25 per cent at Rs 58,135 crore.

George Alexander Muthoot, Managing Director said, “we consciously decided to go slow in terms of non-gold lending business on account of continued uncertainty and emerging uncertain credit behaviour. We are redrawing our strategies in terms of non-gold lending business and we are confident of emerging stronger as the environment improves. On the gold loan front, we are targeting 15 per cent growth in the remaining three quarters”.

George Jacob Muthoot, Chairman, stated, “As the second wave of pandemic hit the country in the first quarter, amidst selective lockdowns at the state and local level, we took all efforts to open our branches and maintain our services to the extent possible. Thanks to all our 25,000+ workforce, we were able to maintain our consolidated loan AUM on a QoQ basis in spite of the tough environment. However, compared to last year, loan assets grew by 25 per cent at Rs 58,135 crore”.

Muthoot Homefin (India) Ltd achieved a PAT of Rs 0.48 crore in Q1 FY22 against Rs 0.41crore in the previous year. Belstar Microfinance achieved a PAT of Rs 2 crore as against a profit after tax of Rs 15 crore in the previous year. Muthoot Insurance Brokers Pvt Limited generated a profit after tax of Rs 4.31 crore as against Rs 4.16 crore in the previous year.

The Sri Lankan subsidiary – Asia Asset Finance PLC – generated a PAT of LKR. 0.97 crore as against the previous year’s loss of LKR 1.69 crore. Muthoot Money Ltd incurred a loss of Rs 0.11 crore against the previous year’s loss of Rs 2.47 crore

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Sovereign Gold Bond Scheme 5th Tranche: Check Issue Price, Other Details

Personal Finance

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Planning

oi-Sneha Kulkarni

|

On Monday, August 9, 2021, the fifth tranche of the government-run sovereign gold bond scheme 2021-22 opens for the subscription. According to the Reserve Bank of India’s schedule for the gold bond program 2021-22, the fifth tranche window will be open for investors from August 9 to August 13, for a five-day period (RBI).

Due to its broad use, gold is one of the most in-demand precious metals, and market demand remains reasonably stable despite market fluctuations and global economic circumstances. As a result, unsystematic risks of irregular swings in gold’s intrinsic value are negligible, allowing an investment portfolio to grow exponentially over time.

Sovereign Gold Bond Scheme 5th Tranche: Check Issue Price, Other Details

During the subscription period, the issuance price of the Bond would be Rs 4,790 per gram, as announced by RBI in a press release dated August 6, 2021. Gold bonds that pay interest are a popular way to buy yellow metal in a non-physical form.

The Government of India, in collaboration with the Reserve Bank of India, has agreed to give investors who apply online and pay via digital channel a discount of Rs 50 per gram off the issuance price. The issue price of a Gold Bond for such investors will be Rs 4,740 per gram of gold.

Gold bonds are investments that are connected to the price of gold on the open market and provide additional returns on investment. The government-run gold bond plan is open to residents, Hindu Undivided Families trusts, universities, and charity groups.

The price of SGB in the fifth tranche has been set at Rs 4790/gm. Non-physical gold investments, such as digital or paper gold, are highly recommended since they give great liquidity, have no storage costs, and are easier to sell than actual gold.

Gold prices have weakened in recent weeks, reaching a one-month low. It has lost almost Rs 1,000/10gm in value in the last week alone.

Story first published: Friday, August 6, 2021, 21:37 [IST]



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City Union Bank posts Q1 net of ₹173 crore

Banking & Finance

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City Union Bank, on Friday, posted 12 per cent growth in year-on-year net profit to ₹173 crore for the quarter ended June 30. The bank posted a net profit of ₹154 crore in the corresponding quarter a year ago.

The bank’s operating profit grew 8 per cent to ₹383.02 crore in Q1FY22 from ₹356.04 crore for the same quarter last year.

Total income dropped marginally to ₹1,193.08 crore (against ₹1,209.95 crore) during the April-June quarter while interest income fell to ₹997.43 (from ₹1,049.36 crore).

An asset quality evaluation of the bank showed some strain with the gross non-performing asset (GNPA) ratio increasing to 5.59 per cent in the June quarter from 3.90 per cent a year ago. NPA ratio also went up to 3.49 per cent (from 2.11 per cent).

The total business of the bank grew by 7 per cent to ₹81,001 crore (from ₹75,562 crore) while deposits grew by 9 per cent to ₹44,606 crore and advances increased by 5 per cent to ₹36,395 crore.

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Reserve Bank of India – Notifications

Bank Jobs

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April 14, 2015




Dear All




Welcome to the refurbished site of the Reserve Bank of India.





The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.




With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.




The site can be accessed through most browsers and devices; it also meets accessibility standards.



Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.



Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.



Thank you for your continued support.




Department of Communication

Reserve Bank of India


Next

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CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Notifications

Bank Jobs

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RBI/2021-22/80
DOR.STR.REC.38/21.04.048/2021-22

August 6, 2021

All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)
All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks
All All-India Financial Institutions
All Non-Banking Financial Companies (including Housing Finance Companies)

Madam / Dear Sir,

Resolution Framework for COVID-19-related Stress – Financial Parameters – Revised timelines for compliance

Please refer to the circular DOR.No.BP.BC/13/21.04.048/2020-21 dated September 7, 2020 inter alia advising the key ratios and their sector specific thresholds to be considered by lending institutions while finalising the resolution plans in respect of eligible borrowers under Part B of the Annex to the Resolution Framework for Covid-19 related stress issued on August 6, 2020.

2. The key ratios consisted of four operational ratios, viz., Total Debt / EBITDA, Current Ratio, Debt Service Coverage Ratio (DSCR) and Average Debt Service Coverage Ratio (ADSCR), along with the ratio Total Outside Liabilities / Adjusted Tangible Net Worth (TOL/ATNW) representing the debt-equity mix of the borrower post implementation of the resolution plan.

3. In view of the resurgence of the Covid-19 pandemic in 2021 and recognising the difficulties it may pose for the borrowers in meeting the operational parameters, it has been decided to defer the target date for meeting the specified thresholds in respect of the four operational parameters, viz. Total Debt / EBIDTA, Current Ratio, DSCR and ADSCR, to October 1, 2022.

4. The target date for achieving the ratio TOL/ATNW, as crystallised in terms of the resolution plan, shall remain unchanged as March 31, 2022.

Yours faithfully,

(Manoranjan Mishra)
Chief General Manager

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