IIFL Home Finance aims to raise Rs 7,000 crore in FY22

[ad_1]

Read More/Less


The net interest income saw a 15% y-o-y growth to Rs 574 crore. Total income increased 42% during the March quarter to Rs 968 crore.

By Ankur Mishra

IIFL Home Finance aims to raise around Rs 7,000 crore during the current financial year, CEO Monu Ratra told FE. The fund-raising will done via NCD issues, bank term loans, direct assignment of portfolios and financing from National Housing Bank (NHB), among others.

The company has begun its fund-raising exercise through an NCD issue, aiming to mop up Rs 1,000 crore. The tenure of NCD issue is 87 months and the annual coupon rate is 10%.

“The overall fund requirement keeping in mind liabilities which are going to mature and new business plans is around Rs 7,000 crore,” Monu Ratra, ED and CEO IIFL Home Finance, said. He expects Q1 earnings to be better than last year as the impact of Covid-19 lasted for longer duration in 2020. “Q1 of this year will be better as it (Covid-19 impact) lasted for too long last year and people were shocked by what was happening,” he said.

However, Ratra acknowledged that there was some impact on collections during the June quarter this year, but it was not alarming.

In April, Crisil had revised its rating on company’s arm IIFL Home Finance to ‘stable’ from ‘negative’. The revision was done due to continuous improvement in collection efficiency resulting in the uptick in asset quality metrics being lower than previous expectations despite weak macroeconomic environment.

Before that, in March, another rating firm Fitch had affirmed IIFL Finance’s long-term issuer default rating (IDR) at ‘B+’ and removed it from rating watch negative (RWN). The rating firm saw easing downside risk to the company’s credit profile due to less adverse economic and funding conditions.

IIFL Home Finance began operations in 2009 as a wholly owned subsidiary of IIFL Finance. IIFL Finance had reported a 321% year-on-year (y-o-y) growth in its net profit to `248 crore during the March quarter (Q4FY21). The net interest income saw a 15% y-o-y growth to `574 crore. Total income increased 42% during the March quarter to Rs 968 crore.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.



[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


1. Tenders by e- tendering process are invited from eligible empaneled vendors for the “Annual Maintenance Contract for Plumbing & Sanitary works and Operation & Maintenance of Pump-Motor set in Bank’s Main Office Premises and Staff Quarters, Vidyut Marg at Bhubaneswar, Odisha”. The tender will be applicable for a period of 2 years and 7 months from issue of work order, subject to satisfactory performance of the successful bidder. 2. All pre-Qualification documents shall be uploaded with Techno-commercial bid (Part-I) on MSTC portal. Those who do not upload the Pre-qualification documents would not be considered for this tender process. Further, the contractor should submit the original of the documents to the Bank when demanded to qualify for further tendering process. 3. Only those firms who are GST registered and have minimum 5 years of experience as on June 30, 2021 in the field of work of similar nature and have executed three or more similar works individually costing not less than 40% of the estimated cost “OR” two works costing not less than 50% of the estimated cost “OR” one work costing not less than 80% of the estimated cost during the last 3 years ended June 30, 2021 with respect to estimated cost of work. The firm have a minimum yearly turnover of 100% of the estimated cost during the last 3 financial years (2020-21, 2019-20 and 2018-19) are eligible for tender.

(NA)

4. Only those contractors will be considered eligible who will invariably furnish, at the time of applying for e-tender, the following information to satisfy the Bank about their eligibility for participating in the tendering process. 4.(a) Composition of the firm Full particulars (whether contractor is an individual, or a partnership firm, or a company etc.) of the composition of the firm of contractors in detail should be uploaded along with name(s) and address (es) of the partners, copy of the Articles of Association / Power of Attorney / any other relevant document.

(NA)

4.(b) Work experience & Completion of similar works of specified value during the specified period. Copies of the detailed work order indicating date of award, value of awarded work, time given for completing the work, etc. and the corresponding completion certificates indicating actual date of completion and actual value of executed similar works should be uploaded in proof of the work experience.     The details along with documentary evidences of previous experience, if any, of carrying out works for the Reserve Bank of India at any center should also be given. (NA) 4.(c) Creditworthiness of the contractor & their Turn over during the specified period. Copies of the Income Tax Clearance Certificates / Income Tax Assessment Orders along with the latest final accounts of the business of the contractor duly certified by a Chartered Accountant should be uploaded in proof of their creditworthiness and turnover for last three years i.e. 2020-21, 2019-20 and 2018-19. (NA) 4.(d) Name(s) & address (es) of the Bankers and their present contact executives Written information about the names and addresses of their bankers along with full details, like names postal addresses, e-mail IDs, telephone (landline and mobile) nos. fax nos., etc., of the contact executives (i.e. the persons who can be contacted at the office of their banker by the Bank in case it is so needed) should be uploaded. (NA) 4.(e) Details of bank accounts Full particulars of their bank accounts, like account No., type, when opened, etc. should be given. (NA) 4.(f) Name (s) & address (es) of the Clients and their present contact executives Information about the names and addresses of their clients along with full details, like names postal addresses, e-mail IDs, telephone (landline and mobile) nos. fax nos., etc., of the contact executives (i.e. the persons who can be contacted at the office of their banker by the Bank in case it is so needed) should be furnished. (NA) 4.(g) Details of completed works The Client-wise names of work(s), year(s) of execution of work(s), awarded and actual cost(s) of executed work(s), completion time stipulated in the contract (s) and actual time taken to complete the work (s), name(s) and full contact-details of the officer / authorities / departments under whom the work (s) was / were executed should be furnished. (NA) 4.(h) Client Certificates The tenderers are advised to upload the Client Certificate as per enclosed Proforma from at least two of their clients for whom they have carried out eligible works in terms of eligibility (Pre-qualification) criteria described in the notice inviting tenders. Client Certificates shall be accepted by the applicant / tender inviting authority of Reserve Bank of India only when the same are signed by an official of the rank of Executive Engineer or equivalent in respect of a Government / Semi Government organization or a PSU and only when they are supported by adequate proof of payment received by the tender for the work done by them. The client certificate issued by the private organization shall also accompany Tax Deducted at source (TDS) certificate. Applications / tenders received without the specified certificates in specified format shall be rejected and the Bank shall have the right to independently verify the submitted certificates. (NA) 4.(i) Banker’s certificate The tenderers are advised to upload the Banker’s certificate from their banker / bankers as per the Annex-C. Such certificate shall be addressed to the application / Tender inviting Authority of the Reserve Bank of India and shall be submitted along with their application / tender. (NA) 4.(j) Registration Certificate – Shram Suvidha Portal The tenderers are required to upload the EPF/ESIC registration Certificates issued on Shram Suvidha Portal. 5. Interested tenderers have to upload relevant documents satisfying all the points as stated above along with techno-commercial (Part-I) bid of tender. The same Eligibility documents and the scanned copy of EMD should be uploaded with Techno Commercial Bid (Part-I) on the MSTC portal.

It is to be duly noted that the tender process shall be executed on the MSTC portal through e-Tendering.

6. In the event of intending tenderers’ failure to satisfy the Bank; the Bank reserves the right to refuse their participation. Tender forms will be available for downloading w.e.f. July 05, 2021 from 6:00 pm. A pre-bid meeting will be held on August 02, 2021 at 11:00 am in the Estate Department, RBI Bhubaneswar. Tenders form can be downloaded for viewing from RBI website www.rbi.org.in or www.mstcecommerece.com/eprochome/rbi. The pre-Qualification papers and scanned copy of proof of EMD payment should be uploaded with Techno Commercial Bid (Part-I) on the MSTC portal. The Demand Draft or Bank Guarantee for EMD should reach in original in a sealed envelope to Estate Department, Reserve Bank of India, Bhubaneswar by 02:00 PM on August 13, 2021. If paid through NEFT, the NEFT receipt should be uploaded along with pre- qualification documents. 7. Interested vendors/firms can participate in e – Tender after getting registration with www.Mstcecommerce.com/eprocurement/rbi). Online Part I – Techno-Commercial Bid and Part II – Price Bid shall be opened through www.mstcecommerce.com/eprocurement/rbi and applicable transaction charges have to be paid by the firm. 8. Tender in prescribed format shall be uploaded on MSTC website. Part-I of tender will contain the Bank’s standard technical and commercial conditions for the proposed work, tenderers’ covering letter only.

The EMD of ₹ 32,825 (Thirty two thousand Eight hundred Twenty five only) should be submitted through NEFT transfer to A/C No-186004001, Reserve Bank of India, IFSC Code-RBIS0BBPA01, Branch Name – Bhubaneswar Or by a demand draft issued by a Scheduled Bank in favor of ‘Reserve Bank of India, Bhubaneswar’ Or in the form of an irrevocable bank guarantee issued by a scheduled bank in the Bank’s standard proforma which is available in the tender-form along with pre-Qualification documents.

Part-II of the tender will contain no conditions but Tenderer’s Price Bid, Bank’s Schedule of quantities, if any, only.

9. The schedule of the tender is as follows: Activity Tentative date i. e -Tender no. RBI/Bhubaneswar/Estate/18/21-22/ET/19 ii. Mode of Tender e- Procurement System
(Online Part I – Techno-Commercial Bid
and Part II – Price Bid through www.mstcecommerce.com/eprochome/rbi) iii. Estimated Cost ₹ 16,41,233 (Rupees Sixteen Lakhs Forty-one Thousand Two hundred Thirty three only) iv. Date of NIT (along with complete tender) available to parties to download- Tender activation on portal-Tender ‘Live’ for all July 05, 2021 @ 6:00 pm onwards v. Date & time for Off-line Pre-bid meeting August 02, 2021 @ 11:00 am vi. Earnest Money Deposit ₹ 32,825 (Rupees Thirty-Two Thousand Eight hundred Twenty five only) (2% of estimated cost) vii. Tender Fees Nil viii. Transaction Fee
Please note that the vendors will have the access to online e-tender only after payment of transaction fees online. Payment of Transaction fee through MSTC Gateway/NEFT/RTGS in favor of MSTC Limited, as advised by M/s MSTC Ltd. ix. Last date of submission of EMD in the Estate Department of RBI, Bhubaneswar August 13, 2021 @ 02:00 pm x. Start Bid date – Date of Starting of e- Tender for submission of online Techno- Commercial Bid and Price Bid at
www.mstcecommerce.com/eprochome/rbi August 03, 2021 @ 02:00 pm xi. Close Bid date – Date of closing of online e – tender for submission of Techno- Commercial Bid & Price Bid August 13, 2021 @ 02:00 pm xii. Part I Bid opening date August 13, 2021 @ 03:00 pm xiii. Part II Bid opening date Shall be informed separately to parties 10. Part-I of the tender will be submitted by the Tenderers in MSTC portal. The same will be opened by RBI on August 13, 2021 at 03:00 PM. Those tenderers, who would like to depute their representatives, may depute their representatives to Estate Department, Reserve Bank of India, Bhubaneswar for the same. Part II of the tender will be opened later. Due intimations will be given for the same. 11. The Bank shall obtain reports on the past performance of the tenderer from his clients and bankers. The Bank shall evaluate the said reports before opening of the Part-II of the tenders. If any tenderer is not found to possess the required eligibility for participating in the tendering process at any point of time and / or his performance reports received from his clients and / or his bankers and found unsatisfactory, the Bank reserves the right to reject his offer even after opening of Part-I of the tender. The Bank is not bound to assign any reason for doing so. 12. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part of any tender. The Bank also reserves the right to reject all the tenders without assigning any reason thereof.

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


1. Tenders by e- tendering process are invited from eligible empaneled vendors the “Annual Maintenance Contract for Plumbing & Sanitary works and Operation & Maintenance of Pump-Motor set in Officers’ Quarters, Nayapalli and Staff Quarters, Baramunda at Bhubaneswar, Odisha”. The tender will be applicable for a period of 2 years and 7 months from issue of work order, subject to satisfactory performance of the successful bidder. 2. All pre-Qualification documents shall be uploaded with Techno-commercial bid (Part-I) on MSTC portal. Those who do not upload the Pre-qualification documents would not be considered for this tender process. Further, the contractor should submit the original of the documents to the Bank when demanded to qualify for further tendering process. 3. Only those firms who are GST registered and have minimum 5 years of experience as on June 30, 2021 in the field of work of similar nature and have executed three or more similar works individually costing not less than 40% of the estimated cost “OR” two works costing not less than 50% of the estimated cost “OR” one work costing not less than 80% of the estimated cost during the last 3 years ended June 30, 2021 with respect to estimated cost of work. The firm have a minimum yearly turnover of 100% of the estimated cost during the last 3 financial years (2020-21, 2019-20 and 2018-19) are eligible for tender. (NA) 4. Only those contractors will be considered eligible who will invariably furnish, at the time of applying for e-tender, the following information to satisfy the Bank about their eligibility for participating in the tendering process. 4.(a) Composition of the firm Full particulars (whether contractor is an individual, or a partnership firm, or a company etc.) of the composition of the firm of contractors in detail should be uploaded along with name(s) and address (es) of the partners, copy of the Articles of Association / Power of Attorney / any other relevant document. (NA) 4.(b) Work experience & Completion of similar works of specified value during the specified period. Copies of the detailed work order indicating date of award, value of awarded work, time given for completing the work, etc. and the corresponding completion certificates indicating actual date of completion and actual value of executed similar works should be uploaded in proof of the work experience.     The details along with documentary evidences of previous experience, if any, of carrying out works for the Reserve Bank of India at any center should also be given. (NA) 4.(c) Creditworthiness of the contractor & their Turn over during the specified period. Copies of the Income Tax Clearance Certificates / Income Tax Assessment Orders along with the latest final accounts of the business of the contractor duly certified by a Chartered Accountant should be uploaded in proof of their creditworthiness and turnover for last three years i.e. 2020-21, 2019-20 and 2018-19. (NA) 4.(d) Name(s) & address (es) of the Bankers and their present contact executives Written information about the names and addresses of their bankers along with full details, like names postal addresses, e-mail IDs, telephone (landline and mobile) nos. fax nos., etc., of the contact executives (i.e. the persons who can be contacted at the office of their banker by the Bank in case it is so needed) should be uploaded. (NA) 4.(e) Details of bank accounts Full particulars of their bank accounts, like account No., type, when opened, etc. should be given. (NA) 4.(f) Name (s) & address (es) of the Clients and their present contact executives Information about the names and addresses of their clients along with full details, like names postal addresses, e-mail IDs, telephone (landline and mobile) nos. fax nos., etc., of the contact executives (i.e. the persons who can be contacted at the office of their banker by the Bank in case it is so needed) should be furnished. (NA) 4.(g) Details of completed works The Client-wise names of work(s), year(s) of execution of work(s), awarded and actual cost(s) of executed work(s), completion time stipulated in the contract (s) and actual time taken to complete the work (s), name(s) and full contact-details of the officer / authorities / departments under whom the work (s) was / were executed should be furnished. (NA) 4.(h) Client Certificates The tenderers are advised to upload the Client Certificate as per enclosed Proforma from at least two of their clients for whom they have carried out eligible works in terms of eligibility (Pre-qualification) criteria described in the notice inviting tenders. Client Certificates shall be accepted by the applicant / tender inviting authority of Reserve Bank of India only when the same are signed by an official of the rank of Executive Engineer or equivalent in respect of a Government / Semi Government organization or a PSU and only when they are supported by adequate proof of payment received by the tender for the work done by them. The client certificate issued by the private organization shall also accompany Tax Deducted at source (TDS) certificate. Applications / tenders received without the specified certificates in specified format shall be rejected and the Bank shall have the right to independently verify the submitted certificates. (NA) 4.(i) Banker’s certificate The tenderers are advised to upload the Banker’s certificate from their banker / bankers as per the Annex-C. Such certificate shall be addressed to the application / Tender inviting Authority of the Reserve Bank of India and shall be submitted along with their application / tender. (NA) 4.(j) Registration Certificate – Shram Suvidha Portal The tenderers are required to upload the EPF/ESIC registration Certificates issued on Shram Suvidha Portal. 5. Interested tenderers have to upload relevant documents satisfying all the points as stated above along with techno-commercial (Part-I) bid of tender. The same Eligibility documents and the scanned copy of EMD should be uploaded with Techno Commercial Bid (Part-I) on the MSTC portal.

It is to be duly noted that the tender process shall be executed on the MSTC portal through e-Tendering.

6. In the event of intending tenderers’ failure to satisfy the Bank; the Bank reserves the right to refuse their participation.   Tender forms will be available for downloading w.e.f. July 05, 2021 from 6:00 pm. A pre-bid meeting will be held on August 02, 2021 at 02:00 pm in the Estate Department, RBI Bhubaneswar.   Tenders form can be downloaded for viewing from RBI website www.rbi.org.in or www.mstcecommerece.com/eprochome/rbi. The pre-Qualification papers and scanned copy of proof of EMD payment should be uploaded with Techno Commercial Bid (Part-I) on the MSTC portal. The Demand Draft or Bank Guarantee for EMD should reach in original in a sealed envelope to Estate Department, Reserve Bank of India, Bhubaneswar by 02:00 PM on August 13, 2021. If paid through NEFT, the NEFT receipt should be uploaded along with pre- qualification documents. 7. Interested vendors/firms can participate in e – Tender after getting registration with www.Mstcecommerce.com/eprocurement/rbi). Online Part I – Techno-Commercial Bid and Part II – Price Bid shall be opened through www.mstcecommerce.com/eprocurement/rbi and applicable transaction charges have to be paid by the firm. 8. Tender in prescribed format shall be uploaded on MSTC website. Part-I of tender will contain the Bank’s standard technical and commercial conditions for the proposed work, tenderers’ covering letter only.

The EMD of ₹ 38,600 (Rupees Thirty Eight Thousand Six Hundred only) for MOP & SQVM should be submitted through NEFT transfer to A/C No-186004001, Reserve Bank of India, IFSC Code-RBIS0BBPA01, Branch Name – Bhubaneswar Or by a demand draft issued by a Scheduled Bank in favor of ‘Reserve Bank of India, Bhubaneswar’ Or in the form of an irrevocable bank guarantee issued by a scheduled bank in the Bank’s standard proforma which is available in the tender-form along with pre-Qualification documents.

Part-II of the tender will contain no conditions but Tenderer’s Price Bid, Bank’s Schedule of quantities, if any, only.

9. The schedule of the tender is as follows:   Activity Tentative date i. e -Tender no. RBI/Bhubaneswar/Estate/19/21-22/ET/20 ii. Mode of Tender e- Procurement System
(Online Part I – Techno-Commercial Bid
and Part II – Price Bid through www.mstcecommerce.com/eprochome/rbi) iii. Estimated Cost ₹ 19,29,950 (Rupees Nineteen Lakhs Twenty nine thousand nine hundred fifty only) iv. Date of NIT (along with complete tender) available to parties to download-Tender activation on portal-Tender ‘Live’ for all July 05, 2021 @ 6:00 pm onwards v. Date & time for Off-line Pre-bid meeting August 02, 2021 @ 02:00 pm vi. Earnest Money Deposit ₹ 38,600 (Rupees Thirty Eight Thousand Six Hundred only) (2% of estimated cost) vii. Tender Fees Nil viii. Transaction Fee
Please note that the vendors will have the access to online e-tender only after payment of transaction fees online. Payment of Transaction fee through MSTC Gateway/NEFT/RTGS in favor of MSTC Limited, as advised by M/s MSTC Ltd. ix. Last date of submission of EMD in the Estate Department of RBI, Bhubaneswar August 13, 2021 @ 02:00 pm x. Start Bid date – Date of Starting of e- Tender for submission of online Techno-Commercial Bid and Price Bid at
www.mstcecommerce.com/eprochome/rbi August 03, 2021 @ 02:00 pm xi. Close Bid date – Date of closing of online e – tender for submission of Techno-Commercial Bid & Price Bid August 13, 2021 @ 02:00 pm xii. Part I Bid opening date August 13, 2021 @ 03:30 pm xiii. Part II Bid opening date Shall be informed separately to parties 10. Part-I of the tender will be submitted by the Tenderers in MSTC portal. The same will be opened by RBI on August 13, 2021 at 03:30 PM. Those tenderers, who would like to depute their representatives, may depute their representatives to Estate Department, Reserve Bank of India, Bhubaneswar for the same. Part II of the tender will be opened later. Due intimations will be given for the same. 11. The Bank shall obtain reports on the past performance of the tenderer from his clients and bankers. The Bank shall evaluate the said reports before opening of the Part-II of the tenders. If any tenderer is not found to possess the required eligibility for participating in the tendering process at any point of time and / or his performance reports received from his clients and / or his bankers and found unsatisfactory, the Bank reserves the right to reject his offer even after opening of Part-I of the tender. The Bank is not bound to assign any reason for doing so. 12. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part of any tender. The Bank also reserves the right to reject all the tenders without assigning any reason thereof.

[ad_2]

CLICK HERE TO APPLY

Federal Bank’s gross advances grow 8% in Q1

[ad_1]

Read More/Less


CASA is seen at Rs 58,959 crore during the first quarter, an y-o-y increase of 19%. The CASA ratio is reported at 34.81%.

Deposits of Federal Bank grew 9% year-on-year (y-o-y) during the first quarter of the current fiscal, while gross advances reported an 8% y-o-y growth, the bank said in a regulatory filing.

The Kerala-based lender said at the end of the June 2021 quarter, total deposits stood at Rs 169,393 crore as against Rs 155,938 crore in the year-ago period. Total advances at the end of the first quarter were at Rs 132,770 crore.

However, total deposits and advances degrew when compared sequentially with the fourth quarter. Total deposits degrew 1.8%, from Rs 172,644 crore in Q4 of FY21. Advances declined by 1.5% from Rs 134,877 crore reported in the fourth quarter of the previous fiscal.

CASA is seen at Rs 58,959 crore during the first quarter, an y-o-y increase of 19%. The CASA ratio is reported at 34.81%.

The lender’s liquidity coverage ratio is reported at 215.20% for the June quarter, compared to 233.14% for the year-ago period and 211.74% for the preceding quarter.

The bank reported the highest-ever quarterly net profit of Rs 477.81 crore for the fourth quarter of FY21, which was higher by 58.6% year-on-year, mainly because of lower provisioning.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.



[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


Reserve Bank of India, Kanpur invites e-tender for ‘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’

The e-tendering shall be done through the e-tendering portal of MSTC Ltd (http://mstcecommerce.com/eprochome/rbi). All eligible and interested companies / agencies / firms must register themselves with MSTC Ltd through the above-mentioned website to participate in the e-tendering process. The Schedule of e-tender is as follows:

E-Tender No. RBI/Kanpur/Estate/7/21-22/ET/7
a) Estimated cost ₹6,61,508/- (Rupees Six Lakhs Sixty-One Thousand Five Hundred Eight only) (Including GST @18%)
b) Mode of e-tender e-Procurement System
(Online Bid through www.mstcecommerce.com/eprochome/rbi
c) Type of e-tender Limited (Only for firms empaneled with RBI, Kanpur under Modular Workstation category of Works)
d) Date of NIT available to parties to download July 05, 2021 from 05.00PM
e) Pre-bid meeting (Offline) August 11, 2021 at 03.00 PM
Venue: Estate Department, 2nd Floor, Reserve Bank of India, Mall Road, Kanpur, Uttar Pradesh-208001
f) EMD through NEFT Only successful bidder shall deposit only 2% of the contract value.
To be paid through NEFT / Net banking to A/c No. 186003001, IFSC RBIS0KNPA01
g) E-Tender Fees NIL
h) Date of Starting of e-tender for submission of on-line Bid at http://mstcecommerce.com/eprochome/rbi August 11, 2021 from 05.00 PM
i) Last date of submission of EMD Within 10 working days after intimation provided by the Bank.
j) Date of closing of online e-tender for submission of Bid August 25, 2021 till 01.00 PM
k) Date & time of opening of online Bid August 25, 2021 from 03.00 PM
l) Validity of the e-tender 90 days from the date of opening of online bid
m) Transaction Fee (Non-refundable) (To be paid separately by the tenderers to MSTC vide MSTC E-Payment Gateway for participating in the e-tender) As charged by MSTC Ltd.

2. Applicants intending to apply will have to satisfy the Bank by furnishing documentary evidence in support of their possessing required eligibility and in the event of their failure to do so, the Bank reserves the right to reject their bids.

3. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The Bank also reserves the right to reject any or all the tenders, either in whole or in part, without assigning any reason thereof.

4. Any amendments / corrigendum to the tender, if any, issued in future will only be notified on the RBI Website and MSTC Website as given above and will not be published in the newspaper.

Regional Director
Reserve Bank of India
Kanpur

[ad_2]

CLICK HERE TO APPLY

Private banks report deposit surge, muted advances growth till June 30

[ad_1]

Read More/Less


Private sector banks have reported a steady increase in deposits though advances remained subdued as local lockdowns impacted business activity. On Monday, the banks filed provisional data on deposits and advances with stock exchanges for the period ended June 30, 2021.

Bucking this trend, HDFC Bank reported a 14.4 per cent growth in advances to about ₹11,47,500 crore as of June 30, 2021 compared to ₹10,03,300 crore a year ago. Its domestic retail loans as of June 30, 2021 rose 10.5 per cent over June 30, 2020 and remained at a level similar to that of March 31, 2021. Domestic wholesale loans jumped around 17 per cent over June 30, 2020 and around 2 per cent over March 31, 2021, HDFC Bank said in its filing.

The bank’s deposits grew 13.2 per cent to about ₹13,46,000 crore as of June 30, 2021 versus ₹11,89,400 crore a year ago.

YES Bank reported a 0.4 per cent decline in loans and advances as of June 30, 2021 to ₹1,63,914 crore against ₹1,64,510 crore as on June 30, 2020. On a sequential basis, loans fell 1.8 per cent from the March 31, 2021 quarter. In contrast, the bank’s deposits soared 39.1 per cent to ₹1,63,295 crore by June-end this year from ₹1,17,360 crore a year ago.

 

Federal Bank reported an 8 per cent growth in gross advances to ₹1,32,770 crore against ₹1,23,437 crore a year ago. Its total deposits increased by 9 per cent to ₹1,69,393 crore as of June 30, 2021 from ₹1,54,938 crore a year ago. However, deposits fell 1.9 per cent on a sequential basis.

IndusInd Bank reported a 7 per cent growth in its net advances to ₹2,11,159 crore during the period against ₹1,98,069 crore a year ago. On a sequential basis, its net advances fell 1 per cent compared to ₹2,12,595 crore as of March 31, 2021.

The bank’s deposits surged 26 per cent to ₹2,67,629 crore as of June 30, 2021 (₹2,11,800 crore). “Retail deposits and deposits from small businesses amounted to ₹1,05,737 crore as of June 30, 2021 compared to ₹95,811 crore as of March 31, 2021,” it said.

[ad_2]

CLICK HERE TO APPLY

RBI to introduce new 10-year G-Sec

[ad_1]

Read More/Less


The Reserve Bank of India has decided to introduce a new 10-year Government Security (G-Sec), which will become the benchmark paper, through which the government will borrow ₹14,000 crore at the upcoming auction on Friday.

This announcement was expected by market participants as the outstanding limit in the current 10-year G-Sec/GS (coupon rate: 5.85 per cent) has reached about ₹1.20-lakh crore. At this level of outstanding amount, usually, a new 10-year G-Sec is issued.

Moreover, the RBI has mopped up about three-fourth of the 5.85 per cent GS via its G-Sec Acquisition Programme and special open market operations, and the trading volume in this paper has been gradually drying up.

Since the 5.85 per cent 2030 GS was first issued on December 1, 2020, its yield has jumped about 25 basis points to close at 6.0877 per cent on Monday, with the price declining about ₹1.82 to ₹98.31.

Overall, the government will be borrowing ₹26,000 crore on Friday through auction of the 4.26 per cent GS 2023 (₹3,000 crore), New GS 2031 (₹14,000 crore) and 6.76 per cent GS 2061 (₹9,000 crore). It will also have the option to retain additional subscription up to ₹6,000 crore against the above security/securities.

G-SAP 2.0 on July 8

A day prior to the auction of the aforementioned G-Secs, the RBI will be purchasing five G-Secs aggregating ₹20,000 crore under its G-Sec Acquisition Programme (G-SAP 2.0) on July 8.

[ad_2]

CLICK HERE TO APPLY

Banks’ crypto blockade: Exchanges try other modes to enable trade

[ad_1]

Read More/Less


As traditional banks and prominent payment gateways continue to be wary of allowing cryptocurrency transactions, some digital payments players such as MobiKwik and Airpay have stepped into this space.

Currently, these are the only two payment processors or gateways serving the cryptocurrency exchanges, said Gaurav Dahake, founder and CEO, Bitbns. Relatively lesser known Airpay was co-founded by Amit Kapoor, Kunal Jhunjhunwala and Rohan Deshpande in 2012. Jhunjhunwala comes from the family of ace stock market investor Rakesh Jhunjhunwala. Rakesh Jhunjhunwala and his brother Rajesh Jhunjhunwala are also investors in the firm along with Kalaari Capital. Bitbns has created its own gateway solution which helps its customers deposit money through UPI and other modes for free. He added, “MobiKwik is launching its IPO this year. A large chunk of its revenue is going to come from cryptocurrency exchanges, as it is the only one that is serving the industry right now. MobiKwik has made a significant amount of money through cryptocurrency clients in the last few months.” An email sent to MobiKwik didn’t elicit any response.

Also read: Indian crypto exchanges flounder as banks cut ties after RBI frown

Last month the Reserve Bank of India had issued a statement clarifying that banks cannot cite 2018 order for not working with cryptocurrency startups. The banks were cautioned also to participate at their own risk ensuring diligence.

Banks are wary

Over a month on, there hasn’t been any change in the banks’ official stance on catering to the crypto exchanges, while they are yet to give access to payment processors or gateways to work with them.

“We were hoping that things would improve post clarification from RBI. Although things haven’t got bad, nothing has improved either with banks like ICICI Bank, Yes Bank and Paytm. They are still reluctant to work with cryptocurrency exchanges and other banks are not very positive either. We were hoping for clarification soon after RBI’s statement, but the talks are on as of now,” Avinash Shekhar, Co-CEO, ZebPay told BusinessLine.

Nischal Shetty, CEO, WazirX, though, believes that the RBI circular at least clarifies that the banks can work with the exchanges. WazirX being one of the largest players in the space has been following the conversations closely. “The business teams of banks are open to it because crypto industry is rapidly growing, but the compliance teams are still trying to put their thoughts together. At present, no bank has come forward to service the exchanges, but hopefully, they will soon,” he said.

“Banks don’t want to miss out the opportunity. They want to be seen as someone supporting this but because we don’t have a very clear legal framework for it in India, banks are being cautious and asking for a few more documents, discussing facilities and limits,” Ramalingam Subramanian, CMO, CoinDCX said.

The process and challenges

In absence of banking partners and payment gateways, WazirX has moved to peer-to-peer (P2P) trading transaction mode. Through P2P way, buyers and sellers of crypto on the exchange transfer money directly into each other’s bank account on trading a cryptocurrency, unlike earlier, when the money would first go into WazirX’s account and then get credited from there.

Others are still relying on the payment processor, doing a lot of the back-end clearance work of transactions manually themselves, as they don’t have access to automated API banking as of now. This leaves customers with limited options to do active trading and transacting when the cryptocurrency values are falling sharply. “Though smaller amount transactions can be done through UPI, but there is a daily limit to that. Customers are missing out on opportunities as larger transactions are restricted. New entrepreneurs don’t want to get into direct cryptocurrency startups right now and even if they do, they are setting up businesses abroad,” Shetty said.

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


E-Tender No: RBI/Ahmedabad/HRMD/82/20-21/ET/792

Reserve Bank of India, Ahmedabad has placed e-tender for empanelment of car hiring agencies / companies to provide vehicles on call basis to Reserve Bank of India, Ahmedabad Regional Office through E-tender No: RBI/Ahmedabad/HRMD/82/20-21/ET/792 on the RBI Website / MSTC portal on June 15, 2021 and the last date for submission of the e-tender was scheduled on July 05, 2021 up to 13.00 hrs.

2. In this context, it is notified that, ‘pertaining to extraordinary circumstances arising due to COVID-19 pandemic, the last date for submission of the e-tender has been extended by seven (07) days and revised schedule of activities are as mentioned below.’

Activity Time/Date
Last date for deposit of EMD July 11, 2021
Date and time of closing of e-tender 01:00 PM on July 12, 2021
Date and time of opening of Part-I (Technical Bid) 03:00 PM on July 12, 2021
Technical evaluation of applications by committee including site visits July 13, 2021 – July 20, 2021
Date and time of opening of Part-II (Financial Bid) To be conveyed subsequently through email to all such agencies who qualified our technical evaluation.

3. Bidders, who have already submitted their bids, may revise their bids, if they desire so, by deleting their existing bid and uploading fresh bid on MSTC portal as per timeline mentioned above. For any clarification, officials of RBI / MSTC may be contacted as per contact details specified in tender document.

4. All other terms and conditions of the tender shall remain unchanged.

Regional Director
Reserve Bank of India
Regional Office
Ahmedabad

Date: July 05, 2021

[ad_2]

CLICK HERE TO APPLY

1 606 607 608 609 610 16,278