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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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All India Insurance Employees’ Association urges govt to drop United India privatisation plan

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The All India Insurance Employees’ Association (AIIEA) has opposed any move towards privatisation of United India Insurance.

“It is unfortunate that the government which had earlier decided on merger of three public sector general insurance companies has given up these plans and is now pushing for privatisation. The AIIEA demands the government to revive the plan for merger which would bring economies of scale and benefit the national economy and weaker sections of population,” the Association said in a statement on Wednesday.

Finance Minister Nirmala Sitharaman had in the Union Budget 2021-22 announced that the government would take up the privatisation of one general insurance company in 2021-22. According to reports, the NITI Aayog has recommended privatisation of United India Insurance.

Urging the government to drop any move towards privatisation of United India Insurance, the association also said it has been mobilising public opinion against the disinvestment of public sector institutions in general and public sector general insurance companies in particular.

Its units have also approached over 350 Members of Parliament on the issue.

“Insurance employees under the banner of the AIIEA are determined to carry forward the resistance against the move of the government to privatise United India Insurance Company and the public sector institutions at large,” it said.

The association also pointed out that public sector general insurance companies implement all the schemes announced by the government, including the recently announced scheme of death coverage to frontline workers due to Covid-19.

United India is the insurer for TN Chief Minister Health Insurance Scheme for 10 years and Maharashtra Government’s Mahathma Jyothiba Phule Jan Arogya Yojana Health Insurance Scheme from 2020. It has also underwritten the Prime Minister Suraksha Bima Yojana on a large scale which the private insurance companies hesitate to underwrite, the association said.

The AIIEA is of the firm opinion that privatisation of United India Insurance or any other public sector general insurance company will be antithetical to the government’s objective of Aatmanirbhar Bharat, it further said.

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7 Quality Stocks With Low PE, High ROCE To Invest In 2021

Personal Finance

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Importance of Low PE and High ROCE in Stocks

Return on Capital Employed (RoCE) is a metric that measures how much-operating profit (EBIT) a company generates for every rupee of capital invested. One of the few profitability ratios that an investor uses to assess a company’s rate of returns and profitability is the return on capital employed ratio. RoCE emphasizes the total profitability of the company. A high RoCE indicates that the company is lucrative.

A stock with a low PE and strong business fundamentals has a decent possibility of rising in price in the future. Sales, EPS, net worth, and other metrics grow quicker when the fundamentals are strong. The market price of stock finally reflects this rise. While it is also not a good idea to pick stocks only based on their “low PE.”

A high ROCE value suggests that more profits can be re-invested in the business for the benefit of shareholders. The capital is re-invested at a higher rate of return, resulting in increased earnings-per-share growth. As a result, a high ROCE is indicative of a successful growth organisation.

NMDC

NMDC

The stock returned 71.99 percent during a three-year period, compared to 44.96 percent for the Nifty 100 index. Over a three-year period, the stock delivered a 71.99 percent return, while the Nifty Metal provided investors a 49.84 percent return. Over the last three years, the company has maintained a good ROCE of 25.69 percent. It’s a good opportunity to buy because the stock isn’t overbought. Stocks have a high dividend yield.

NMDC founded in 1958, is a Large Cap business in the Mining Industry with a market capitalization of Rs 53,366.33 crore. In the most recent quarter, the company declared a net profit after tax of Rs 2,835.54 crore.

Hindustan Aeronautics

Hindustan Aeronautics

Hindustan Aeronautics Ltd., founded in 1963, is a Large Cap firm in the Defence sector with a market capitalization of Rs 34,652.58 crore. In the last three-year period, the stock returned 23.48 percent, while the S&P BSE Capital Goods index returned 35.69 percent.

Over the last three years, the company has maintained an ROE of 20.74 percent. Over the last three years, the company has maintained a respectable ROCE of 27.04 percent. With an interest coverage ratio of 11.93, the company is in good shape.

The company reported gross sales of Rs. 214383.8 crores and a total income of Rs. 217317.1 crores in the most recent quarter.

Petronet LNG Ltd

Petronet LNG Ltd

On June 8, 2021, the company declared a dividend of Rs 3.5 per share, with a record date of July 2, 2021. Petronet LNG Ltd. was founded in 1998 and is based in the United Kingdom. The current share price is 226. It currently has a market capitalization of Rs 33900 crore. The company reported gross sales of Rs. 354520 crores and total income of Rs. 358245.7 crores in the most recent quarter.

For the past three years, the company has shown a good profit growth of 16.51 percent. The company’s debt has been reduced by 632.20 crores.

Over the last three years, the company has maintained a respectable ROE of 23.59 percent. Over the last three years, the company has maintained a respectable ROCE of 30.82 percent.

Sun TV Network

Sun TV Network

The Sun TV Network Ltd. company was founded in 1985. The current share price is 536.3. It currently has a market capitalization of Rs 21134.76 crore. The company reported gross sales of Rs. 34044.2 crores and a total income of Rs. 36533.5 crores in the most recent quarter.

Over the last three years, the company has maintained an strong ROCE of 37.79 percent. In the last five years, the company has maintained effective average operating margins of 68.10 percent. The company’s cash flow is well-managed, with a CFO/PAT ratio of 1.28.

Gujarat State Petronet Ltd

Gujarat State Petronet Ltd

Gujarat State Petronet Ltd. began operations in 1998. Its share price currently is 335.25. It now has a market capitalization of Rs 18915.19 crore. The company reported gross sales of Rs. 23692.71 crores and a total income of Rs. 24334.25 crores in the most recent quarter.

For the past three years, the company has shown a good profit growth of 30.70 percent. The company has grown its sales by 32.10 percent in the last three years. The company’s debt has been reduced by 735.67 crores.

Manappuram Finance Ltd

Manappuram Finance Ltd

The company Manappuram Finance Ltd. was founded in 1992. Its share price presently is 162.65. It currently has a market capitalization of Rs 13766.12 crore. The company reported gross sales of Rs. 43113.03 crores and total income of Rs. 43533.41 crores in the most recent quarter.

The profit margin has increased by 5.41 percent. In the last three years, the company has maintained a good ROA of 5.29 percent.

The company has a 21.43 percent Return on Equity (ROE) track record. Since the last three years, the company has maintained a respectable ROCE of 14.55 percent.

Chambal Fertilisers and Chemicals Ltd

Chambal Fertilisers and Chemicals Ltd

For the past three years, the company has shown a good profit growth of 42.28 percent. Stocks have consistently outperformed bank FDs in terms of return on equity.

For the past three years, the company has grown its revenue by 18.10 percent. Stocks also pay out a lot of money in dividends. In the previous three years, the company has maintained a respectable ROE of 23.24 percent.

7 Quality Stocks With Low PE, High ROCE To Invest In 2021

7 Quality Stocks With Low PE, High ROCE To Invest In 2021

Company Name Price in Rs. PE ROCE
NMDC 184.45 8.61 22.54%
Hindustan Aeronautics 1024 10.62 24.34
Petronet LNG 226 11.56 32.16
Sun TV Network 532 13.73 31.1 %
Gujarat State Petronet 335 11.8 38.5 %
Manappuram FInance LTD 169 8.48 15.36
Chambal Fertilisers 306 7.78% 29.2 %

Disclaimer

Disclaimer

Financial ratios, on the other hand, provide information regarding prior performance. You can’t predict whether the company will perform similar or better in the future based solely on previous performance. The views and investment tips expressed by authors or employees of Greynium Information Technologies, should not be construed as investment advise to buy or sell stocks, gold, currency or other commodities.



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Repco Home Finance Q4 net up 32%

Banking & Finance

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Repco Home Finance (RHFL) has posted a 32 per cent growth in standalone net profit for the fourth quarter at ₹63.2 crore as against ₹47.7 crore profit in the corresponding quarter of the previous fiscal.

Total income of the lender dropped to ₹340.34 crore in Q4FY21 from ₹346.11 crore in the year-ago quarter.

Also read: All-India HPI increases by 2.7% yoy in Q4FY21

Standalone net profit for the full year grew by 3 per cent to ₹287.60 crore (₹280.35 crore) while total income during this period grew to ₹1,392.23 crore (₹1,351.1 crore).

During FY21, Repco Home Finance disbursed ₹1,840.9 crore of loans and its outstanding loan book as of March 2021 stood at ₹12,121.5 crore.

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HDFC Bank, BFSI News, ET BFSI

Banking & Finance

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The RBI‘s ban on selling new credit cards has impacted market share on an incremental basis, HDFC Bank said on Wednesday, promising to get back to the market “with a bang” once the “temporal” embargo is lifted and recoup the losses. The bank’s head of consumer finance, digital banking and information technology, Parag Rao, said that it has used the last six months to “introspect, re-engineer and innovate” about the cards business, where it has 15.5 million customers.

The bank has lost its market share by a couple of percentage points because of the ban, but the actions taken internally have ensured that it continues to hold on to market share by spends, he said.

In December, the RBI acted against repeated technological outages at HDFC Bank over two years by slapping unprecedented penalties, which included a ban on any new credit card issuance and also prohibition on launching new digital initiatives.

“We have got very aggressive plans to get back in the market with a big bang… You will rapidly see HDFC Bank not just regaining market share but also significantly increasing our spend market share,” Rao said.

Without sharing any details over when he expects the ban to be lifted, Rao said within 3-4 months of the ban getting lifted, one should expect a correction in the incremental market share back to the pre-ban levels, launch of new products and features and also partnerships which have been forged during this period.

“We were very clear that this is at best a temporal situation. During the six months when we were not issuing new credit cards, we increased our merchant acceptance base, our liability franchise increased and today we are sitting on a large base of already analytically data mined customers who have already kept ready and pre-approved,” he said.

The “large sales force” has been trained, re-skilled and primed for the aggressive play ahead and backend processes for them have also been made more streamlined, Rao said.

He admitted that rivals have seized up on the opportunity once HDFC Bank stopped issuing the cards, amidst reports on how ICICI Bank and SBI, among others have grown. It can be noted that HDFC Bank’s credit card customers decreased by 4.67 lakh between December and April, when they stood at 14.9 million, while SBI has gained over 6 lakh new cards and ICICI gained 10 lakh.

The bank has been in constant discussion with RBI ever since the ban was imposed and has upgraded its systems as per the indications from the regulator, Rao said, adding that it has now presented a plan which focuses on the immediate, short term, mid-term and long term plan to the central bank.

“We are awaiting the comments from the RBI. We are hopeful that RBI will be satisfied with the plan which we had submitted,” he said.

Rao said the bank’s investments in technology were already at par with global standards, but the recent regulatory action will see higher spends on technology over the next two or three years.

Reiterating its focus outlined earlier, he said outages do happen and they happen with rivals as well, but the important aspect will be how it manages its way out of a crisis.

The bank’s shares were trading 0.17 per cent down at Rs 1,499 apiece on the BSE at 1344 hrs, as against gains of 0.28 per cent on the benchmark. AA MKJ



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MFI portfolio at Rs 2,59,377 Crore in FY21, MFIN sees steady progress towards normalcy, BFSI News, ET BFSI

Personal Finance

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The microfinance industry serving 5.93 crore borrowers with 10.83 loan accounts saw the industry portfolio at Rs 2,59,377 crore as of March 31, 2021.

According to MFIN’s micrometer report, Microfinance loan disbursals during Q4 20-21 jumped 53.8 per cent to INR 91,516 crores as compared to the previous quarter (INR 59,508 crores). Similarly, the number of loans disbursed during Q4 20-21 increased to 2.30 crores from 1.79 crores in Q3 20-21, signifying steady progress towards normalcy.

The overall microfinance industry currently has a total Gross Loan Portfolio (GLP) of INR 2,59,377 crores. Gross loan portfolio (GLP) as on March 31, 2021, showed an increase of 11.90 per cent YoY over INR 2,31,787 crores as on March 31, 2020. 13 Banks hold the largest share of the portfolio in micro-credit with a total loan outstanding of INR 1,13,271 crores, which is 43.67 per cent of total micro-credit universe.

NBFC-MFIs are the second largest provider of micro-credit with a loan amount outstanding of INR 80,549 crores, accounting for 31.05 per cent to total industry portfolio. SFBs have a total loan amount outstanding of INR 41,170 crores with a total share of 15.87 per cent. NBFCs account for another 8.36 per cent, and other MFIs account for 1.05 per cent of the Universe



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5 Best Savings Accounts In India With Interest Rates Up To 7.25%

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5 Best Savings Accounts of Private Sector Banks

DCB Bank offers the highest interest rate of 6.75 per cent among private sector banks. Then there’s RBL Bank, which is giving up to 6.25 per cent, and Bandhan Bank, which is offering 6%. Here are the top five private sector banks that are presently offering higher savings account interest rates.

Banks Interest Rates In % W.e.f.
DCB Bank 3.00 to 6.75 10th June, 2021
RBL Bank 4.25 to 6.25 July 2, 2021
Bandhan Bank 3.00 to 6.00 June 7, 2021
IndusInd Bank 4.00 to 5.50 June 4, 2021
Yes Bank 4.00 to 5.25 13th May, 2021
Source: Bank Websites

5 Best Savings Accounts of Public Sector Banks

5 Best Savings Accounts of Public Sector Banks

Punjab National Bank promises the highest interest rates of up to 3.50 per cent, followed by IDBI Bank and Canara Bank with interest rates of up to 3.40 per cent and 3.20 per cent, respectively, among the top public sector banks. Here we’ve compiled a list of the top 5 public sector banks providing the highest savings account rates right now.

Banks Interest Rates In % W.e.f.
Punjab National Bank 3.00 to 3.50 March 1.2021
IDBI Bank 3.00 to 3.40 May 1, 2021
Canara Bank 2.90 to 3.20 28.09.2020
Bank of Baroda 2.75 to 3.20 26.05.2021
Punjab & Sind Bank 3.10% 12.11.2020
Source: Bank Websites

5 Best Savings Accounts of Small Finance Banks

5 Best Savings Accounts of Small Finance Banks

Small finance banks are now offering higher interest rates than commercial banks and private sector banks. Utkarsh Small Finance Bank offers the highest interest rate on savings accounts, at 7.25 per cent, followed by Ujjivan Small Finance Bank, AU Small Finance Bank, and Equitas Small Finance Bank, all of which have interest rates of 7.00 per cent. We’ve prepared a table of the top 5 small finance banks currently offering the best savings account interest rates.

Banks Interest Rates In % W.e.f.
Utkarsh Small Finance Bank 5.00 to 7.25 01.08.2020
Ujjivan Small Finance Bank 4.00 to 7.00 06.03.2021
AU Small Finance Bank 3.50 to 7.00 17.05.2021
Equitas Small Finance Bank 3.50 to 7.00 01.06.2021
Jana Small Finance Bank 3.00 to 6.75 06.05.2021
Source: Bank Websites



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PayNearby onboards 10,000 women business correspondents, BFSI News, ET BFSI

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The branchless banking and digital payments network, PayNearby will be onboarding 10,000 women BC Sakhis from Self Help Groups (SHGs) to offer banking services to various Gram Panchayats in Uttar Pradesh.

The company aims to digitize transactions worth ₹1000 crores through the Self Help Group (SHG) ecosystem across Uttar Pradesh, while enabling BC Sakhis to earn additional revenue. PayNearby has entered into a partnership with YES Bank to onboard BC Sakhis across 9 districts in the state across Uttar Pradesh, viz. Badaun, Sitapur, Etah, Ballia, Ghazipur, Behraich, Balrampur, Gonda and Azamgarh.

The business processes and transactions that happen through SHGs are mostly cash-based. As of March 2019, an estimated ₹1,00,000 crore has been transacted within the SHG ecosystem, the bulk of it being in cash. Under the Uttar Pradesh State Rural Livelihood Mission (UPSRLM) program, the Government of Uttar Pradesh (GoUP) has decided to appoint one Business Correspondent (BC) – Sakhi (BC-Sakhi) from the members of the SHGs in each of its 58,000 Gram Panchayats.

The project is aimed at improving banking access in rural UP and enhancing the household income of these women and empowering them. Post the onboarding, PayNearby said it will work on upskilling BC Sakhis on the usage of the digital ecosystem while also providing them digital solutions to further the cause of financial inclusion across the state and bring many to the formal banking fold.

Anand Kumar Bajaj, Founder MD & CEO said, “Our country is going through a digital revolution and it is therefore important that we empower our women to lead this change. While the Business Correspondent model ensures low-cost delivery of accessible banking services to every section of the society, the SHG platform has proven to be pivotal in this task, owing to its comprehensive reach and influence at the community level.”

“The UPSRLM program is an excellent initiative by the government of Uttar Pradesh and PayNearby is extremely honoured to be a facilitator of this program and drive empowerment.” he added.



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Reserve Bank of India – Press Releases

Press Releases

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Auction Results 91 Days 182 Days 364 Days
I. Notified Amount ₹15000 Crore ₹15000 Crore ₹6000 Crore
II. Competitive Bids Received      
(i) Number 107 179 97
(ii) Amount ₹ 51656 Crore ₹ 44896 Crore ₹ 25631.30 Crore
III. Cut-off price / Yield 99.1486 98.1789 96.2657
(YTM: 3.4443%) (YTM: 3.7200%) (YTM: 3.8898%)
IV. Competitive Bids Accepted      
(i) Number 38 67 27
(ii) Amount ₹ 14999.218 Crore ₹ 14993.359 Crore ₹ 5999.878 Crore
V. Partial Allotment Percentage of Competitive Bids 97.29% 99.60% 6.23%
(1 Bid) (7 Bids) (2 Bids)
VI. Weighted Average Price/Yield 99.1508 98.1833 96.2743
(WAY: 3.4353%) (WAY: 3.7108%) (WAY: 3.8805%)
VII. Non-Competitive Bids Received      
(i) Number 3 3 1
(ii) Amount ₹ 2000.782 Crore ₹ 894.391 Crore ₹ 0.122 Crore
VIII. Non-Competitive Bids Accepted      
(i) Number 3 3 1
(ii) Amount ₹ 2000.782 Crore ₹ 894.391 Crore ₹ 0.122 Crore
(iii) Partial Allotment Percentage 100% (0 Bids) 100% (0 Bids) 100% (0 Bids)

Ajit Prasad
Director   

Press Release: 2021-2022/451

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Microfinance loan portfolio grows 11.9% to ₹2,59,377 cr as on March-end: MFIN

Banking & Finance

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The overall microfinance industry’s gross loan portfolio (GLP) surged by 11.9 per cent to ₹2,59,377 crore as on March 31, 2021 from ₹2,31,787 crore as on March 31, 2020, says a report.

The growth was driven by an addition of four lakh borrowers during the pandemic-struck 12-month period ending March 2021, according to a report – Micrometer, released by Microfinance Institutions Network (MFIN).

Also read: In a boost to MFIs, FM hikes ECLGS limit by ₹1.5-lakh cr

MFIN is an industry association comprising 58 NBFC-MFIs and 39 associates, including banks, small finance banks (SFBs) and NBFCs. As on March 31, 2021, the microfinance industry served 5.93 crore unique borrowers, through 10.83 crore loan accounts, the report said.

It said 13 banks hold the largest share of the portfolio in micro-credit with a total loan outstanding of ₹1,13,271 crore, which is 43.67 per cent of total micro-credit universe.

Non-banking financial companies-microfinance institutions (NBFC-MFIs) are the second-largest provider of micro-credit with a loan amount outstanding of ₹80,549 crore, accounting for 31.05 per cent to total industry portfolio, the report showed.

SFBs have a total loan amount outstanding of ₹41,170 crore with a total share of 15.87 per cent.

NBFCs account for another 8.36 per cent, and other MFIs account for 1.05 per cent of the total microfinance universe, it said.

The report further showed that the gross loan portfolio of NBFC-MFIs increased by 11 per cent to ₹81,475 crore as on March 31, 2021, compared to ₹73,412 crore as on March 31, 2020.

This GLP on NBFC-MFIs includes owned portfolio of ₹68,894 crore and managed portfolio of ₹12,581 crore, it said.

The association said its NBFC-MFI members disbursed ₹57,891 crore of loans in fiscal 2020-21 through 1.70 crore accounts.

Also read: RBI proposes regulatory framework for microlenders

Average loan amount disbursed per account during FY20-21 was ₹35,726, an increase of around 20 per cent in comparison to last financial year, the report said.

During FY2020-21, NBFC-MFIs received a total of ₹40,797 crore in debt funding which is 9.2 per cent higher than in FY2019-20.

Total equity of the NBFC-MFIs grew by 15 per cent to ₹18,663 crore as on March 31, 2021.

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