Reserve Bank of India – 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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Reserve Bank of India – Press Releases

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The Reserve Bank of India will conduct a Variable Rate Reverse Repo auction on July 02, 2021, Friday, as under:

Sl. No. Notified Amount
(₹ crore)
Tenor
(day)
Window Timing Date of Reversal
1 2,00,000 14 10:30 AM to 11:00 AM July 16, 2021 (Friday)

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

Ajit Prasad
Director   

Press Release: 2021-2022/464

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Reserve Bank of India – Notifications

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RBI/2021-22/65
DOR.CRE(DIR).REC.28/04.02.001/2021-22

July 1, 2021

All Scheduled Commercial Banks (excluding RRBs),
Small Finance Banks, Primary (Urban) Cooperative Banks
and EXIM Bank

Dear Sir / Madam,

Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit – Extension

Please refer to the instructions issued vide circular DOR.CRE.REC.06/04.02.001/2021-22 dated April 12, 2021.

2. Government of India has approved the extension of Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit, with the same scope and coverage, for a further period of three months, i.e., up to September 30, 2021. The extension takes effect from July 01, 2021 and ends on September 30, 2021 covering a period of three months.

3. Consequently, the extant operational instructions issued by the Reserve Bank under the captioned Scheme shall continue to remain in force up to September 30, 2021.

Yours faithfully

(Manoranjan Mishra)
Chief General Manager

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Top 5 Best Performing Technology Mutual Fund SIPs To Invest In 2021

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ICICI Pru Technology

ICICI Prudential Technology Direct Plan-Growth is an ICICI Prudential Mutual Fund Equity mutual fund program. Since its introduction, the ICICI Prudential Technology Direct Plan-Growth scheme has returned 134.39 percent in the last year, 137.92 percent in the last three years, and 606.06 percent since its launch. The minimum SIP investment for this scheme is Rs 100. The Fund has an AUM of 2,792 crores.

If you have invested Rs 5000 per month SIP, the returns would have been Rs 2,82,846 by the end of three years

The top 5 holdings are Infosys, L&T Infotech, HCL, Persistent Systems, and Tech Mahindra. This fund has been accorded a 3-star rating from CRISIL.

TATA Digital India Fund

TATA Digital India Fund

Tata Mutual Fund’s Tata Digital India Fund Direct-Growth is an equity mutual fund strategy. Meeta Shetty is the fund manager for this plan, which was launched on December 28, 2015. Since its inception, Tata Digital India Fund Direct-Growth has returned 116.84 percent in the first year, 126.47 percent in the second year, and 232.18 percent in the third year. The minimum SIP amount for this scheme is Rs 500.

The top 5 holdings are Infosys, L&T Infotech, HCL, Persistent Systems, and Tech Mahindra. The AUM of Tata Digital India Fund is Rs 1,464 Crs. Exit load of 0.25% if redeemed within 30 days. The fund has an expense ratio of 0.72%.

TATA Digital India Fund

Tata Mutual Fund’s Tata Digital India Fund Direct-Growth is an equity mutual fund strategy. Meeta Shetty is the fund manager for this plan, which was launched on December 28, 2015. Since its inception, Tata Digital India Fund Direct-Growth has returned 116.84 percent in the first year, 126.47 percent in the second year, and 232.18 percent in the third year. The minimum SIP amount for this scheme is Rs 500.

The top 5 holdings are Infosys, L&T Infotech, HCL, Persistent Systems, and Tech Mahindra. The AUM of Tata Digital India Fund is Rs 1,464 Crs. Exit load of 0.25% if redeemed within 30 days. The fund has an expense ratio of 0.72%.

Aditya Birla Sun Life Digital India Fund

Aditya Birla Sun Life Digital India Fund

Aditya Birla Sun Life Digital India Fund Direct-Growth is an equity mutual fund scheme managed by Kunal Sangoi, which was launched on 01 January 2013. It has an AUM of 1,413.07 crores, and the most recent NAV declared as of 30 June 2021 at 9:52 pm is 121.650.

The return on Aditya Birla Sun Life Digital India Fund Direct-Growth scheme has been 112.01 percent in the last year, 136.21 percent in the last three years, and 569.88 percent since its inception. The minimum SIP amount for this scheme is Rs 1,000.

The top 5 holdings are Infosys, TCS, Tech Mahindra, HCL, and Cyient Ltd. The fun has an exit load of 1% if redeemed within 30 days. The fund has an expense ratio of 1.18%.

SBI Technology Opportunities Fund

SBI Technology Opportunities Fund

SBI Technology Opportunities Fund Direct-Growth (SBI Technology Opportunities Fund Direct-Growth) is an SBI Mutual Fund equity mutual fund strategy. It has an AUM of 738.84 crores, and the most recent NAV declared as of 30 June 2021 is 137.538 crores.

SBI Technology Opportunities Fund Direct-Growth plan has returned 95.72 percent in the last year, 112.80 percent in the last three years, and 497.21 percent since its inception. The minimum SIP amount for this scheme is Rs500.

The top 3 holdings are Infosys, HCL, TCS, and Alphabet Inc Class A.

There is an exit load of 0.50% if redeemed within 15 days. The fund has an expense ratio of 1.34%.

Franklin India Technology Fund

Franklin India Technology Fund

The Franklin India Technology Fund Direct-Growth is a Growth mutual fund scheme from Franklin India. It has an AUM of 553.99 Crores and a NAV of 322.506 as of 30 Jun 2021.

Since its inception, Franklin India Technology Fund Direct-Growth has returned 79.52 percent in the first year, 103.30 percent in the second year, and 426.66 percent in the third year. The minimum SIP amount for this scheme is Rs 500.

The top 3 holdings are Infosys, HCL, TCS, and others

There is an exit load of 1% if redeemed within one year. The fund has an expense ratio of 1.63%.

Fund Name 1 Year Return 3-year Return Since Inception
ICICI Pru Technology 137.21% 33.67% 25.99%
TATA Digital India Fund 118.79% 31.46% 24.54%
Aditya Birla Sun Life Digital India Fund 113.86% 33.43% 25.21%
SBI Technology Opportunities Fund 97.09% 28.90% 23.58%
Franklin India Technology Fund 78.73% 26.59% 21.60%

Disclaimer

Disclaimer

Goodreturns has taken utmost care in the compilation of data for this article. We are not a qualified financial advisors and any information herein is not investment advice. It is informational. All readers and investors should note that neither Greynium nor the author of the articles, would be responsible for any decision taken based on these articles. Please do consult a professional advisor. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates, and authors do not accept culpability for losses and/or damages arising based on information in GoodReturns.in



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Top-Up SIP: Why You Should Opt For Top-Up SIP When You Have Surplus Funds?

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Advantages of Top-Up SIP

  • For example, if you now invest Rs. 20,000 per month in a mutual fund via SIP and want to increase your monthly commitment to Rs. 25, 000, you can do so with a top-up SIP.
  • A top-up SIP may give you an advantage over a traditional SIP because you are raising the SIP investment amount every year. Because with a top-up SIP, the monthly SIP amount grows every year, whereas, in a traditional SIP, the amount invested remains constant throughout the investment cycle.
  • Every year, you expect your payor income to rise. Employers offer annual increments or bonuses that can be added to an existing SIP.
  • A top-up facility enables you to achieve your financial objectives more quickly or to expand your objectives to match your needs.
  • Because you can expect your income to rise over time, increasing your investment in an existing plan is a sensible way to increase your wealth.
  • Top-up SIP allows you to stay up with the rising cost of living. Because inflation erodes the value of your money over time, it’s a good idea to increase your SIP contributions by at least the inflation rate.

SBI terms and conditions for Top-Up

SBI terms and conditions for Top-Up

  • Investors must select the top-up option when enrolling for the SIP service.
  • The minimum SIP top-up is Rs. 500, and multiples of Rs. 500 are allowed.
  • Once you’ve enrolled, you won’t be able to change your top-up information. Any modifications must be made by canceling the existing SIP and enrolling in a new SIP with the Top-up option.
  • SIP Top-up is accessible in the case of Monthly SIP, Half-yearly SIP, and Yearly SIP. If the investor does not indicate a frequency for a top-up, the default frequency will be half-yearly.
  • Only the Yearly frequency is accessible under SIP Top-up in the case of Quarterly SIP.
  • Top-up SIP will be permitted in all schemes that offer the SIP function.
  • All other terms and conditions that apply to normal SIP will apply to Top-up SIP as well.
  • SIP Top-up will be accessible exclusively for SIP Investments made using ECS (Debit Clearing) Or Direct Debit.

How To Opt for Top up SIP?

How To Opt for Top up SIP?

Existing investors must apply for the SIP with the Top-Up option as well as the auto-debit option. They must ensure that details such as the scheme/plan, SIP date, duration, and frequency are appropriately presented. The investors’ bank accounts will have two debits, one for the initial transaction and the other for the top-up transaction.

Only multiples of particular denominations can be topped up (eg Rs. 500). The facility is only available for SIPs paid by direct debit or ECS.

At pre-determined periods, the investor can increase the amount of the SIP installment by a specified amount. This increases the investor’s flexibility.

A particular form for SIP top-up must be completed.

Forms can be downloaded on the fund house’s website. Existing SIP (scheme information, SIP frequency, SIP amount) and investor details (name, folio) must be provided. The amount of the top-up and the frequency of the top-up instalments should be specified.

If the mode of holding is “Joint,” all holders must sign the form. Some AMCs additionally demand that a bank mandate be included in the SIP top-up form. For each registered SIP, a separate top-up form must be completed. Between two consecutive top-up requests, the AMC specifies a time interval that must be maintained (typically 3-6 months).



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Standard Life sells 4.99 per cent stake in HDFC Life

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Standard Life has sold 10.08 crore shares amounting to 4.99 per cent stake in HDFC Life Insurance.

The transaction took place on June 29.

“We are enclosing herewith a communication received from Standard Life (Mauritius Holdings) 2006 Limited, one of the promoters of the company, stating that they have undertaken a sale of 100,845,104 equity shares of the company (representing approximately 4.99 per cent of the total issued and paid-up equity share capital of the company) on June 29,” HDFC Life said in a regulatory filing on Thursday.

Post the transaction, Standard Life holds 7.86 crore shares amounting to 3.89 per cent stake in HDFC Life.

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Reserve Bank of India – Press Releases

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In terms of Government of India Notification F.No.4(10)-B(W&M)/2020 dated June 26, 2020 on Floating Rate Savings Bonds, 2020 (Taxable) – FRSB 2020 (T), the coupon/interest rate of the bond would be reset half yearly, starting with Jan 1st, 2021 and the coupon/interest rate will be set at a spread of (+) 35 bps over the prevailing NSC rate.

2. The coupon rate on FRSB 2020 (T) for period July 1, 2021 to December 31, 2021 and payable on January 1, 2022 remains at 7.15% (6.80% + 0.35% = 7.15%), unchanged from the previous half-year.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/463

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SBI employees donate ₹62 crore to PM CARES Fund

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About 2.50 lakh employees of State Bank of India (SBI) have collectively donated ₹62.62 Crore to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund on the occasion of 66th Foundation Day of their Bank.

Last year, the employees of India’s largest bank made a total donation of ₹107.95 crore to the PM CARES Fund by letting go of one day’s salary and a day’s leave encashment.

Also read: Huge slowdown in credit offtake a cause of concern for banking industry: SBI DMD

Dinesh Kumar Khara, Chairman, SBI, said, “It is a matter of pride for State Bank of India that our employees have continued to offer banking services to our customers throughout the pandemic, putting service before self, in the true sense of the term.

“In addition, they have voluntarily come forward to contribute to the PM CARES Fund at a time when the government is strengthening the healthcare system to tackle the pandemic.”

The PM CARES Fund was set up by the government with the primary objective of dealing with any kind of emergency or distress situation as posed by the Covid-19 pandemic, and to provide relief to the affected people.

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Reserve Bank of India – Press Releases

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Government of India has announced the sale (re-issue) of Government Stock detailed below through auctions to be held on July 02, 2021.

As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

(₹ in crore)
Security Notified Amount Minimum Underwriting Commitment (MUC) amount per PD Minimum bidding commitment per PD under ACU auction
5.63% GS 2026 11,000 262 262
GoI FRB 2033 4,000 96 96
6.64% GS 2035 10,000 239 239
6.67% GS 2050 7,000 167 167

The underwriting auction will be conducted through multiple price-based method on July 02, 2021 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E-Kuber) System between 09:00 A.M. and 09:30 A.M. on the date of underwriting auction.

The underwriting commission will be credited to the current account of the respective PDs with RBI on the date of issue of securities.

Ajit Prasad
Director   

Press Release: 2021-2022/462

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Jefferies Sees RIL To Jump Up To 50% In A Year If These 5 Triggers Are Set Out

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Investment

oi-Roshni Agarwal

|

Reliance Industries stock has been trading in a range for sometime now and saw the correction last week after its 44th AGM in which the company’s chairman Mukesh Ambani boasted of the firm’s robust financial performance. Also, on the sidelines he said that the Saudi Aramco deal shall happen this year.

Jefferies Sees RIL To Jump Up To 50% In A Year If These 5 Triggers Are Set Out

Jefferies Sees RIL To Jump Up To 50% In A Year If These 5 Triggers Are Set Out

Now, global research firm views RIL stock to even gain 50% in a year’s time. This the firm expects in the most bullish scenario and amid a situation if these aspects stand out for the conglomerate entity.

Furthermore in the base case situation, Jefferies see the price of RIL to scale to Rs. 2540, an upside of 22 percent while in the bear case it sees a downside of up to 11 percent to Rs. 1850. Last the stock of RIL traded higher by a tad at Rs. 2111 per share.

5 Triggers or Grounds listed by Jefferies which will propel bull run in RIL scrip are:

1. Completion of company’s O2C business and Saudi Aramco deal

2. Gross refining margin (GRM)s show recovery ahead of their estimates

3. Listing of the company’s Jio business that will provide for re-rating of the company’s valuation multiple

4. Reliance Retail, the company’s retail arm gets a good hold of the market at a rate better than anticipated.

5. Traffic increase for Jio in case of consolidation in the telecom space.

Jefferies take on RIL scrip

” Given the early stage nature of the technology, RIL’s portfolio strategy for the renewable (RE) can ensure its success. The government policy support for RE and capital subsidy schemes would improve the investment economics, said equity analyst at Jefferies.

The company’s diversified businesses offers a wide market to cater to. Reliance Retail that encompasses e-commerce and Jio Space are new business lines that will enable the company to expand and scale up. Similarly the partnership with Google and Facebook will also be a positive for the company.

GoodReturns.in



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