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The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period May 10, 2021 to May 14, 2021.
Ajit Prasad Press Release: 2021-2022/474 |
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Investment
oi-Vipul Das
The Pradhan Mantri Kisan Samman Nidhi Yojana (PM-Kisan Yojana) is an initiative that provides up to Rs 6,000 per year in basic income support to all small and marginal farmers by the government of India. All eligible farmer households (only husband, wife and minor children) across the country receive annual income assistance of Rs 6000 in three equal instalments of Rs 2,000 every four months under the PM Kisan Yojana. This initiative is open to landholding farmers’ families with cultivable landholdings in their names, farmers from both urban and rural regions, and small and marginal farmers’ families. The first instalment of Rs 2000 is payable between April 1 and July 31, the second instalment is payable between August 1 and November 30, and the third instalment is payable between December 1 and March 31, under the scheme. But do you know apart from the above said annual income assistance, you can get a Rs 3000 monthly pension at the age of 60?. Here’s how.
All eligible small and marginal farmers would get a fixed pension of Rs.3,000/- under this initiative. Pensions would be given to farmers through a Pension Fund administered by the Life Insurance Corporation of India, as it is a voluntary and contribution-based pension plan. Farmers will be required to contribute between Rs.55 and Rs.200 each month to the Pension Fund until they reach the retirement age of 60. In addition, the central government will also contribute the equivalent amount to the pension fund. Farmers who are 18 years old or older and up to 40 years old are eligible to participate in the initiative. Spouses of small and marginal farmers are also entitled to join the scheme individually, and when they reach the age of 60, they would get a separate pension of Rs.3000. Farmers who have subscribed for the scheme can exit any time if they do not want to maintain their accounts for whatever reason. After leaving the scheme, a farmer will be paid back with the contribution amount made towards the pension fund along with the interest, according to the guidelines of Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY).
According to the guidelines issued by PM-KMY “The monthly contributions will fall due on the same day every month as enrolment date. The beneficiaries may also choose an option to pay their contributions on a quarterly, 4-monthly or half-yearly basis. Such contributions will fall due on the same day of such period as the date of enrollment. The amount of the monthly contribution shall range between Rs.55 to Rs.200 per month depending upon the age of entry of the farmers into the Scheme, as per the following contribution chart.”
| Entry Age | Superannuation Age | Member’s contribution (Rs.) | Government’s contribution (Rs.) | Total contribution (Rs.) |
|---|---|---|---|---|
| 18 | 60 | 55 | 55 | 110 |
| 19 | 60 | 58 | 58 | 116 |
| 20 | 60 | 61 | 61 | 122 |
| 21 | 60 | 64 | 64 | 128 |
| 22 | 60 | 68 | 68 | 136 |
| 23 | 60 | 72 | 72 | 144 |
| 24 | 60 | 76 | 76 | 152 |
| 25 | 60 | 80 | 80 | 160 |
| 26 | 60 | 85 | 85 | 170 |
| 27 | 60 | 90 | 90 | 180 |
| 28 | 60 | 95 | 95 | 190 |
| 29 | 60 | 100 | 100 | 200 |
| 30 | 60 | 105 | 105 | 210 |
| 31 | 60 | 110 | 110 | 220 |
| 32 | 60 | 120 | 120 | 240 |
| 33 | 60 | 130 | 130 | 260 |
| 34 | 60 | 140 | 140 | 280 |
| 35 | 60 | 150 | 150 | 300 |
| 36 | 60 | 160 | 160 | 320 |
| 37 | 60 | 170 | 170 | 340 |
| 38 | 60 | 180 | 180 | 360 |
| 39 | 60 | 190 | 190 | 380 |
| 40 | 60 | 200 | 200 | 400 |
| Source: pmkisan.gov.in |
Story first published: Friday, July 2, 2021, 16:57 [IST]
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Investment
oi-Roshni Agarwal
As per the India Brand Equity Foundation, Indian pharma industry ranks third for pharma production by volume worldwide. The recent government measures such as the lately approved PLI scheme for the pharma industry has been extended from FY21 to FY29. With the boost, there shall be an investment worth Rs. 15000 crore into the sector. Also, the pandemic outbreak has only brightened the prospects.
Market size:
As of 2021, the market of pharma industry as per the Indian Economy Survey is estimated at US$ 42 billion in 2021 and expected to scale to US$65 billion by 2024 and further scale to US$120-130 billion by 2030.
Amid all such endeavours and the recent aggressiveness the sector is witnessing due to Covid 19 vaccine push etc., it will not be wrong to bet on Indian pharma growth story.
But is the sector suitable for all investors. Here we will discuss the same in brief before listing the best performing mutual funds.
What are Pharma Mutual Funds and who should invest in pharma mutual funds?
Pharma mutual funds are a sectoral or thematic mutual fund category that invests primarily in pharma sector companies. In fact, they have been provided a mandate to invest 80 percent of the corpus in pharma. So, the performance of the fund depends on the industry’s performance. In the past 2 years, So, by and large these funds shall be ideal for affluent and discerning investors who have a good risk appetite too.
| Fund | NAV | 1-yr return | 3-year | 5-year return |
|---|---|---|---|---|
| UTI Healthcare Fund | 166.28 | 25.75% | 72.24% | 79.61% |
| ICICI Prudential Pharma Healthcare And Diagnostics (P.H.D) Fund | 20.56 | 25.00% | 63.00% | – |
| Nippon India Pharma Fund | 306.64 | 29.90% | 78.34% | 97.29% |
1. UTI Healthcare Fund:
The pharma equity fund commands an AUM of Rs. 852 crore as on May 31, 2021. The fund carries high risk and even a high expense ratio of 2.69 percent.
Ideally those looking at diversifying their portfolio or those who can afford a higher risk can bet on the fund. SIP in the fund can be started for Rs. 500 while for lump sum minimum investment required is of Rs. 5000. The benchmark for the fund is S&P BSE healthcare TRI.
RS. 10000 monthly SIP started in the fund 3 years ago have grown into Rs. 6.10 lakh, here the invested amount was equivalent to Rs. 3.6 lakh.
Top holdings of the fund are Dr. Reddy’s, Aurobindo Pharma, Cipla, Sun Pharma, Divi’s Lab.
2. ICICI Prudential Pharma Healthcare And Diagnostics (P.H.D) Fund:
The fund size of the ICICI Prudential’s healthcare fund is Rs. 2683 crore. Expense ratio of the fund is 2.19 percent. The corpus of the fund is parked in equity and equity related instruments of pharma, healthcare, hospital, diagnostics, wellness etc. The fund was launched in the year 2018.
SIP in the fund can be started for as low as Rs. 100. Minimum investment for lump sum investment has to be Rs. 5000.
A SIP of Rs. 10000 per month has grown in value to Rs. 1.44 lakh, while Rs. 1 lakh lump sum investment is equivalent to Rs. 1.58 lakh.
Some of the top holdings of the fund include Sun Pharma, Cipla, Divi’s, Alkem, Dr. Reddy’s etc.
3. Nippon India Pharma Fund:
The fund has an asset size of Rs. 5237.9 crore. The high risk fund further carries an expense ratio of 1.95%. Ideally suitable for investors who understand the macros and are keen to bet on riskier funds for better returns than equity mutual funds.
SIP in the fund can be started for Rs. 100 only and the fund was launched 2004. The return since inception from the fund has been to the tune of 22.19%.
Top holdings of the fund are Cipla, Dr. Reddy’s, Divi’s, Aurobindo Pharma, Sun Pharma etc.Rs. 10000 monthly SIP in 3 years time with an investment of Rs. 3.6 lakh is worth Rs. 6.31 lakh.
Disclaimer:
Mutual fund investments are subject to risk. Individuals need to do their own research and analyst. In fact, the category of pharma fund is even riskier than equity mutual funds, so best suitable for individuals with high risk appetite. Note, the data here is given only for informational purpose only.
GoodReturns.in
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RBI/2021-22/66 July 02, 2021 All Scheduled Commercial Banks (including RRBs) Dear Sir / Madam, Review of Instructions on Interest on overdue domestic deposits Please refer to Section 9 (b) of Master Direction – Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 3, 2016, and the Master Direction – Reserve Bank of India (Co-operative Banks – Interest Rate on Deposits) Directions, 2016 dated May 12, 2016 in terms of which if a Term Deposit matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract rate of interest as applicable to savings deposits. 2. On a review of these instructions, it has been decided that if a Term Deposit (TD) matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract rate of interest as applicable to savings account or the contracted rate of interest on the matured TD, whichever is lower. 3. The relevant section of Master Directions are amended accordingly as indicated in the Annex. Yours faithfully, (Thomas Mathew)
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Investment
oi-Vipul Das
Although small savings schemes are the secure investment bet, their interest rates make them more appealing than other fixed income instruments like fixed deposits. Small savings schemes come with a low initial contribution amount and thus reinvesting in them can boost your interest income across the select tenure. The account/certificate holder must either maintain or create a new Post Office Savings Account in the post office to reinvest the whole maturity value or a portion thereof, either directly or through a SAS agent. The Department of Posts has issued an order and notified the procedure for direct reinvestment by account holders of the maturity value of a National (Small) Savings Scheme in the same or other National (Small) Savings Schemes.
According to the Department of Posts “If an account holder wants to re-invest the maturity value of his/her National (Small) Savings Scheme either in full or part thereof, he/she shall submit account closure form (SB-7A) for the matured account, passbook and withdrawal form(SB-7) or POSB cheque of his/her Post Office Savings Account at concerned post office. Further he/she shall submit the Account Opening Form (AOF) with pay-in-slip for the new account to be opened.”
The Department of Posts has further stated that re-investment of maturity value via withdrawal form (SB-7) is permitted under SAS agency rules/existing process. Under SAS agency guidelines, however, new investments can only be made in cash (up to Rs.20,000) or by cheque. Check out the steps for making a reinvestment through an SAS agent outlined below.
According to the Department of Posts “The agent will issue authorized agent receipt of the documents mentioned below from the Authorized Agent Receipt Book (Cheque) with suitable remarks and hand it over to the account holder as prescribed in the SAS Agency rules. Particulars of the matured deposit/certificates which are to be reinvested will be written in place of cheque number on the receipt.”
Where account holder desires to re-invest his/her maturity value through SAS agent in any of (TD/MIS/KVP/NSC) schemes, the account holder shall handover the following documents to SAS agent after obtaining one copy of Authorized Agent Receipt :-
a) Passbook/Certificate (KVP/NSC) matured.
b) Account Closure Form (SB-7A)
c) Account Opening Form (AOF) of new scheme with pay-in-slip
d) Withdrawal Form (SB-7) along with passbook or POSB Cheque of PO Savings Account.
Story first published: Friday, July 2, 2021, 15:37 [IST]
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The share of upgraded listed debt issues was at a three-year high for two rating agencies while the share of downgraded listed debt issues in total outstanding ratings fell in the fourth quarter of 2020-21 as against previous quarters.
This was revealed by the Financial Stability Report, July 2021 of the Reserve Bank of India.
“On an aggregate basis, the share of downgraded listed debt issues in total outstanding ratings declined significantly during the fourth quarter of 2020-21 vis-à-vis earlier quarters, while the share of upgraded listed debt issues was at a three-year high for both ICRA and CRISIL,” the FSR said.
For ICRA, upgraded and re-affirmed listed debt issues was 99.8 per cent in the fourth quarter of last fiscal while downgraded and suspended issues were 0.2 per cent. This is in contrast to just 88 per cent upgraded and re-affirmed listed debt issues in the fourth quarter of 2019-20.
Similarly, in the case of Crisil upgraded and re-affirmed listed debt issues was 99.9 per cent in the March 2021 quarter versus 91.2 per cent in the fourth quarter of 2019-20.
For Care Ratings too, upgraded and re-affirmed listed debt issues had risen to 95.2 per cent in the fourth quarter of 2020-21 as against 78 per cent in the same period in the previous fiscal.
“Out of the rating downgrades during the fourth quarter of 2020- 21, the share of the NBFC and housing finance company sectors as well as banks and financial services went down significantly as compared to the preceding quarter,” the FSR further noted.
In the quarter ended March 31, 2021, the rating downgrades for NBFCs accounted for 11.1 per cent of the overall downgrades in the quarter as against 28.6 per cent in the December 2020 quarter.
The share of banks, financial services in rating downgrades was nil in the March 2021 quarter versus 11.9 per cent in the previous quarter.
The power sector had the largest share of rating downgrades in the March 2021 quarter at 38.9 per cent as against 38.1 per cent in the previous quarter.
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Mswipe is looking to transform into a full digital bank for small merchants by offering them more focussed products.
“We should be looking at a digital bank focussed on small merchants and try to cover the merchant ecosystem to the best of our ability. We should be a one stop shop for whatever the merchant needs relating to payment and finance starting from a payment terminal, QR or terminal. We will also look at how to help them with their business with inventory management, lending, buy now pay later platform that is more focussed on the merchant’s requirement,” said Ketan Patel, CEO, Mswipe.
Mswipe, which is a financial services platform for MSMEs, had announced Patel’s appointment on July 1.
Also read: Digital India: Paytm sets aside ₹50 crore for reward program
Mswipe also aspires to be an NBFC and hopes to have its own license in the next three to six months. At present, it dispenses loans through partners. It has also created a hybrid credit score with Equifax for MSMEs.
“This is the first step to lending from our own books,” he said. Patel said payments will continue to be the core focus of Mswipe but it will also look at other engagement opportunities with merchants. The company is in talks to enable merchants to offer insurance to customers as well as micro ATMs.
“We want the terminal to create new revenue opportunities for the merchant. They can sell small ticket insurance such as two wheeler and health using the POS terminal. This will be an additional revenue item for them,” he said.
Also read:Indian crypto exchanges flounder as banks cut ties after RBI frown
Similarly, the merchant can offer micro ATMs to dispense cash and earn additional revenue, Patel said.
Mswipe has about 6 lakh merchants as of now and targets to have over 10 lakh merchants over the next three years. At present, it is the largest independent mobile POS merchant acquirer and network provider with 6.75 lakh POS and 11 lakh QR merchants across the country.
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Reserve Bank of India invites E-Tender for Electrical Renovation Works for 4 Nos. of Grade ‘A’ officer flats at TNOQ Officer’s Quarters, RBI Kanpur. The tendering would be done through the e-Tendering portal of MSTC Ltd. (http://mstcecommerce.com/eprochome/rbi). All Bank’s empaneled electrical contractors/agencies/firms enlisted for works more than 05 lakhs must register themselves with MSTC Ltd through the above-mentioned website to participate in the tendering process. The Schedule of e-Tender is as follows:
Intending tenderers shall pay as earnest money a sum of Rs. 13,000/- by way of NEFT to Reserve Bank of India, Kanpur or by a Demand Draft or Banker’s Cheque issued by a Scheduled Bank in favour of Reserve Bank of India payable at Kanpur. MSME registered firms are exempted from submission of EMD. 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. Tenders without EMD or proof of MSME registration will not be accepted under any circumstances. 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 all the tenders without assigning any reason thereof. 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 |
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The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period May 03, 2021 to May 07, 2021.
Ajit Prasad Press Release: 2021-2022/473 |
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Ajit Prasad Press Release: 2021-2022/472 |
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