Rupee falls 10 paise to 74.20 against US dollar in early trade

[ad_1]

Read More/Less


The Indian rupee slumped 10 paise to 74.20 against the US dollar in opening trade on Tuesday as rising crude oil prices weighed on investor sentiment.

At the interbank foreign exchange, the rupee opened lower at 74.18 against the dollar, then fell further to 74.20, registering a fall of 10 paise over its previous close.

Also read: Rupee closes down 24 paise at 74.10 a dollar

On Monday, the rupee had settled at 74.10 against the US dollar.

“Asian currencies have started weak against the greenback this Tuesday morning and surging crude oil prices could continue to keep appreciation bias limited,” Reliance Securities said in a research note.

Global oil benchmark Brent crude futures rose 0.32 per cent to $75.14 per barrel.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 0.03 up 91.93 per cent.

“The US dollar index was flat this morning in Asian trade ahead of the Fed Chairman Powell testimony tonight. Investors will wait and watch if he confirms the hawkish outlook or tries to row back market expectations of faster tightening,” the Reliance Securities’ note said.

On the domestic equity market front, the BSE Sensex was trading 471.17 points or 0.90 per cent higher at 53,045.63, while the broader NSE Nifty advanced 144 points or 0.91 per cent to 15,890.50.

Foreign institutional investors were net sellers in the capital market on Monday, offloading shares worth ₹1,244.71 crore, as per exchange data.

[ad_2]

CLICK HERE TO APPLY

4 Best Tax Saver Funds For Long Term Investors

[ad_1]

Read More/Less


Quant Tax Plan Direct Fund

Quant Tax Plan Direct-Growth Fund has a total asset under management (AUM) of Rs 204 crore, with a current net asset value (NAV) of Rs 204.02 as of June 21, 2021. The 1-year returns of the Quant Tax Plan Direct-Growth are 117.83 per cent and the fund’s 3-year and 5-year returns are 30.95% and 24.63% respectively. The healthcare, financial, FMCG, communication, and metals sectors comprise the majority of the fund’s holdings. ITC Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., State Bank of India, and ICICI Securities Ltd. are the fund’s top five holdings. The fund has an expense ratio of 0.50% and one can start SIP with a minimum amount of Rs 500 with no exit load.

BOI Axa Tax Advantage Direct-Growth Fund

BOI Axa Tax Advantage Direct-Growth Fund

The fund presently has Rs 453 crore in assets under management (AUM) and a NAV of Rs 97.88 as of June 21, 2021. The fund has returned 71.96 per cent in the last year, with returns of 18.44 per cent and 20.25 per cent in the previous three and five years, respectively. The fund has a 1.67 per cent expense ratio, which is higher than the category average, and the minimum SIP is Rs 500 with no exit load. The fund’s top equity sectors are chemicals, healthcare, financial services, and technology, with HDFC Bank, ICICI Bank, Infosys, Divi’s Laboratory Ltd., and Laurus Lab Ltd. as its top five holdings.

Mirae Asset Tax Saver Fund

Mirae Asset Tax Saver Fund

Mirae Asset Tax Saver Fund Direct-Growth returns have been 70.47 per cent over the last year. It has returned 21.47% and 22.93% over the last 3-years and 5 years. The bulk of the capital in the fund is allocated across the financial, technology, energy, auto, and healthcare sectors. HDFC Bank Ltd., ICICI Bank Ltd., Infosys Ltd., Axis Bank Ltd., and Tata Consultancy Services Ltd. are the fund’s top five holdings. The fund presently has Rs 7,940 crore in assets under management (AUM) and a NAV of Rs 30.12 as of June 21, 2021. The fund has an expense ratio of 0.48% and the fund’s 1 to 5-year returns are higher than the category average returns.

Canara Robeco Equity Tax Saver Fund

Canara Robeco Equity Tax Saver Fund

Canara Robeco Equity Tax Saver Direct has a 1-year growth rate of 67.23 per cent. Over the previous three to five years, it has returned 20.77 per cent and 19.04 per cent, respectively. The fund has the equity sector allocation across the Financial, Technology, Construction, Automobile, Engineering sectors. Infosys Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., and Tata Consultancy Services Ltd. are among the top five holdings of the fund. As of June 21, 2021, the fund has Rs 2,227 crore in assets under management (AUM) and a NAV of Rs 109.31. The fund has a 0.87 per cent expense ratio and one can start a SIP with a minimum of Rs 500.

Best Tax Saver Funds In Terms of Returns

Best Tax Saver Funds In Terms of Returns

Funds 1 year returns 3 year returns 5 year returns Rating by Value Research
Quant Tax Plan Direct Growth 117.83% 30.95% 24.63% 5 star
BOI Axa Tax Advantage Fund 71.96% 18.44% 20.25% 4 star
Mirae Asset Tax Saver Fund 70.47% 21.47% 22.93% 5 star
Canara Robeco Equity Tax Saver Fund 67.23% 20.77% 19.04% 5 star
Source: Value Research

Conclusion

Conclusion

ELSS schemes have outperformed other Section 80C tax-saving investment choices such as PPF, ULIP, NSC, NPS and tax-saving bank FDs in terms of returns. The explanation for this is that, according to Value Research, Tax Saver Funds have delivered excellent 5-year average SIP returns of 21.46 per cent. When we compare this return to the most common tax-saving strategies listed above, we can discover that they have beaten them by a large percentage. Because ELSS funds have the most long-term wealth-building potential, they can be an effective instrument for attaining long-term financial objectives if you invest for at least 3 to 5 years. Since nobody can promise future success, examining historical returns can only demonstrate the performance of tax saver funds under varied market behaviour. For higher returns, you should invest in Equity Mutual Funds with a direct plan option. Because direct plans have a lower expense ratio than growth plans, as a result, they can provide better long-term returns if you stay invested for 5-years.

Disclaimer

Disclaimer

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. Investors should certainly not take any trading and investment decision based only on information discussed on GoodReturns.in We are not a qualified financial advisor and any information herein is not investment advice. It is informational in nature. 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



[ad_2]

CLICK HERE TO APPLY

3-Stocks To Buy For Discerning Long Term Investors

[ad_1]

Read More/Less


Dalmia Bharat

Motilal Oswal Retail Research has recommended buying the stock of Dalmia Bharat. The company is among the top five cement manufacturers in the country. The research firms sees a number of factors like sharp price hikes, capacity additions to boost financial performance.

“In the near term, supplies are expected to be impacted by logistic issues, which would support prices. We expect market share gains to continue, supported by 25% capacity expansion over the next year,” the Motilal Oswal Retail Research has said.

According to the firm, the plan to double capacity provides long-term volume growth visibility. Interestingly, Dalmia Bharat is also paying back debt, which should reduce interest costs.

“The company has repaid its gross debt of Rs 22.2 billion in FY21 from operating cash flows, working capital release, and the dilution of the disputed mutual fund units – which were credited back to the company in the last quarter. Despite the ongoing expansion, the balance sheet remains well under control,” the research firm has said.

“We remain positive on Dalmia Bharat and have given the price hike in eastern India and major expansions coming on board. Valuations are reasonable at 10.4x FY23E EV/EBITDA and EV/capacity of $112 per tonne. We reiterate Buy, with target price of Rs 1,905 per share (at 10 times FY23E EV/EBITDA),” Motilal Oswal Retail Research has said.

Shares of Dalmia Bharat were trading at Rs 1,831 on the BSE.

Maruti Suzuki

Maruti Suzuki

Emkay Global expects a strong recovery in passenger vehicle volumes due to easing of lockdowns, healthy order-book and improving macros and sees Maruti Suzuki among the key beneficiaries. The broking firm has set a target price of Rs 8,500 on the stock of Maruti Suzuki with a buy call.

“Maruti Suzuki customer base includes conservative customers who seek reliable products, better fuel efficiency, low maintenance costs, strong service/spares network and better resale values. To sustain share over medium term, Maruti Suzuki will also have to address the desirability factor. As the customers are upgrading to higher-priced vehicles (especially UVs), it is important for Maruti Suzuki to have successful launches in these categories. Media reports refer to upcoming products such as Jimny off-roader, mini SUV (larger Wagon R), small hatchback and jointly developed products with Toyota,” the firm has said.

Shares of Maruti were last seen trading at Rs 7159 on the NSE.

NTPC

NTPC

Motilal Oswal Institutional Equities has placed a buy call on the stock of NTPC with a price target of Rs 145 in its latest report. Power major, NTPC recently reported a very strong set of quarterly numbers for the period ending March 31, 2021.

“NTPC has taken steps to improve its renewables footprint. The 3GW of renewable capacities are under construction and expected to be commissioned over the next two years. Moreover, even as the company gradually scales up on its renewables journey, we expect continued capitalization for its thermal projects to drive 12% growth in regulated equity over FY21-23E. We have a Buy rating on NTPC, with a DCF-based target price of Rs 145 on the stock,” the broking firm has said.

Disclaimer

Disclaimer

The above stocks are based on the report of Motilal Oswal and Emkay Global. Investing in stocks are risky and investors should do their own research. The author, the brokerage firms or Greynium Information Technologies are not responsible for any losses incurred due to a decision based on the above article. Investors should hence exercise due caution as markets have run-up significantly. Please consult a professional advisor.



[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Press Releases

[ad_1]

Read More/Less



(Amount in ₹ crore, Rate in Per cent)

  Volume
(One Leg)
Weighted
Average Rate
Range
A. Overnight Segment (I+II+III+IV) 3,54,467.57 3.28 0.01-5.30
     I. Call Money 7,908.31 3.16 1.90-3.45
     II. Triparty Repo 2,41,333.80 3.28 3.25-3.39
     III. Market Repo 1,00,692.46 3.30 0.01-3.50
     IV. Repo in Corporate Bond 4,533.00 3.52 3.42-5.30
B. Term Segment      
     I. Notice Money** 937.80 3.23 2.60-3.40
     II. Term Money@@ 291.00 3.10-3.60
     III. Triparty Repo 200.00 3.28 3.27-3.28
     IV. Market Repo 1,649.43 3.48 3.45-3.60
     V. Repo in Corporate Bond 149.00 5.10 5.10-5.10
  Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate
C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)
I. Today’s Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo Mon, 21/06/2021 1 Tue, 22/06/2021 3,14,349.00 3.35
     (iii) Special Reverse Repo~          
     (iv) Special Reverse Repoψ          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Mon, 21/06/2021 1 Tue, 22/06/2021 0.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£          
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*
      -3,14,349.00  
II. Outstanding Operations
1. Fixed Rate          
     (i) Repo          
     (ii) Reverse Repo          
     (iii) Special Reverse Repo~ Fri, 18/06/2021 14 Fri, 02/07/2021 960.00 3.75
     (iv) Special Reverse Repoψ Fri, 18/06/2021 14 Fri, 02/07/2021 40.00 3.75
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Fri, 18/06/2021 14 Fri, 02/07/2021 2,00,009.00 3.50
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF          
4. Long-Term Repo Operations# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15
  Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15
  Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15
  Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15
5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40
  Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40
  Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40
  Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40
6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40
7. On Tap Targeted Long Term Repo Operations Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00
  Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00
8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00
  Tue, 15/06/2021 1095 Fri, 14/06/2024 490.00 4.00
D. Standing Liquidity Facility (SLF) Availed from RBI$       5,578.00  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -1,12,139.00  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -4,26,488.00  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 21/06/2021 6,09,451.86  
     (ii) Average daily cash reserve requirement for the fortnight ending 02/07/2021 6,19,074.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 21/06/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 04/06/2021 8,57,660.00  
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
– Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.
# As per the Press Release No. 2020-2021/287 dated September 04, 2020.
^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.
As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020 and Press Release No. 2020-2021/1057 dated February 05, 2021.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
£ As per the Press Release No. 2021-2022/181 dated May 07, 2021.
~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.
ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021.
Ajit Prasad
Director   
Press Release: 2021-2022/407

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


Reserve Bank of India, Nagpur invites Tender for Electrical Safety Audit in Bank’s Main and Additional Office premises, RBI, Nagpur. The tendering would be done offline. All interested companies/agencies/firms are requested to download the tender document (Part I and Part II) and send separate sealed envelope for Part I and Part II via post addressed to “The Regional Director, Estate Department, Reserve Bank of India, Civil Lines, Nagpur – 440001” so as to reach not later than 2.00 pm on July 22, 2021 along with the necessary documents as specified in the tender documents.

All the tender documents should be duly filled in, signed and sealed by the tenderer and the covers should be super scribed with words “Quotation for Conducting Electrical Safety Audit of Bank’s Main and Additional Office Building at Nagpur”. No Tenders will be accepted after 2.00 pm on July 22, 2021.

The Schedule of e-Tender is as follows:

Mode of Tender Offline (Download the tender Documents from website)
Estimated Cost ₹. 1,40,000.00
Date by which the parties can download tender documents from website June 22, 2021 by 10:30 onwards
Last date of submission of duly filled Quotations 14:00 PM of July 22, 2021
Date of opening of Quotation 15:00 PM of July 22, 2021

For detailed terms/conditions & related documents please refer the “Tenders” section on our website www.rbi.org.in.

It may please be noted that any further change in information of dates/clarifications in connection with this tender shall be posted only on RBI’s website.

Regional Director
Reserve Bank of India
Nagpur

[ad_2]

CLICK HERE TO APPLY

Moody’s sees auto loan delinquencies rising for three to six months, BFSI News, ET BFSI

[ad_1]

Read More/Less


Moody’s which reported stable collection rates for auto-loan asset-backed securities (ABS) rated by it in the quarter ended March 2021, sees them falling over the next three to six months.

The collection rates were similar to the pre-Covid levels in the March quarter, according to a report. Delinquency rates were also similar in the March quarter over the previous quarter.

The delay in the country’s economic recovery, rise in fuel prices is hurting the commercial vehicle segment. This will hit the performance of asset-backed securities backed by commercial vehicle loans, according to a report by Moody’s Investors Service earlier this month.

“Slowing economic activity in India due to the second wave will constrain commercial vehicle owners’ capacity to pay auto loans. As a result, commercial vehicle loan delinquencies will increase in India and collection rates will remain below March levels over the next three to six months,” according to Moody’s.

Sluggish economic activity will dampen demand for goods transportation and lower freight rates. This will reduce commercial vehicle operators’ incomes, and therefore, their ability to repay auto loans, the agency said.

Furthermore, fuel costs are rising following a depreciation of the rupee and state and central fuel tax changes, which have hiked up commercial vehicle operators’ costs and will further constrain their loan-repayment ability.

Cash reserves, excess spread and transaction structures will mitigate risks. The Indian asset-backed securities that Moody’s rates benefit from non-amortising cash reserves and substantial excess spread, providing liquidity and buffers against losses. Most deals also have timely interest and ultimate principal structures, which provide additional protection against liquidity risks.

Second wave harsh

The impact of the first Covid wave was cushioned with multiple measures such as regulatory moratorium, loan restructuring, additional funding through the emergency credit line guarantee scheme. Also, a sharp pent-up demand recovery raised optimism about faster-than-expected normalisation, according to India Ratings.

However, the outcome may be different during the second wave, due to the wide-scale impact, including rural areas and pent-up demand being absorbed already.

With reduced borrowers’ savings and rising operating costs due to fuel inflation, the excess capacity had its offsetting impact on freight contract renewals or market freight rates, all impacting borrowers’ cash flows.

Early demand indicators, such as the E-way bill, diesel consumption are showing signs of moderation and asset inflation (rising raw material prices like steel and cement) would impact demand offtake and thus load availability.

Thus, both demand and rising operating costs would moderate borrowers’ cash flows in the financial year 2021-22.

“Lenders’ collection efficiency would also be affected by restricted mobility as the second wave has spread across all geographies, the agency said, adding it has a negative outlook on commercial vehicle finance as an asset class.

There are emerging trends of rising loan tenures across vehicle financiers to reduce servicing burden for borrowers, however, these could lead to a rise in loss given defaults for collaterals.



[ad_2]

CLICK HERE TO APPLY

Indian Bank opens Rs 4,000-cr QIP issue; sets floor price at Rs 142.15/share, BFSI News, ET BFSI

[ad_1]

Read More/Less


State-owned Indian Bank on Monday launched its qualified institutional placement (QIP) of shares to raise around Rs 4,000 crore, setting the floor price at Rs 142.15 per share. The committee of directors on capital raising in its meeting held on Monday approved and authorised the opening of the QIP on June 21, Indian Bank said in a regulatory filing.

The committee approved the floor price for the QIP at Rs 142.15 per equity share. Floor price is the minimum price set for an issue, below which an offer cannot be made.

“The bank may, in accordance with the special resolution of the shareholders, at its discretion offer a discount of up to 5 per cent on the floor price in the QIP,” it added.

Further, a meeting of the committee is scheduled to be held on June 24, 2021 to consider and approve the issue price, including a discount for the equity share to be allotted to eligible qualified institutional buyers (QIBs), pursuant to the QIP, it said.

In March this year, the committee of directors had accorded approval for raising equity capital aggregating up to Rs 4,000 crore through QIP in one or more tranches.



[ad_2]

CLICK HERE TO APPLY

‘Business interest not driven by PMC Bank alone’

[ad_1]

Read More/Less


Jaspal Bindra

The Reserve Bank of India (RBI) may have paved the way for the resolution of PMC Bank by granting an in-principle approval for small finance Bank (SFB) to Centrum Financial Services, but its executive chairman Jaspal Bindra says the business interest was not driven by PMC Bank alone. In an Interview with Ankur Mishra, he says the new bank is going to have all of the Centrum’s NBFC business, a good portion of BharatPe’s business, and PMC will also fold into the bank. He also says PMC Bank depositors will have to wait for clarity till the amalgamation scheme is finalised by the regulator. Excerpts:

What has been the reason for showing interest in PMC Bank?

We looked at it on a standalone basis and thought it (PMC Bank) is resolvable. We basically wanted to find a resolution which was better than liquidation for the lender. Our business interest was not driven by PMC Bank alone. We have looked at it as a bank which will also have PMC as a component. The new bank is going to have all of the Centrum’s NBFC business, a good portion of BharatPe’s business, and PMC will also fold into the bank. The reason for looking for a banking licence was to get a deposit franchise.

What was your proposal for the resolution of PMC Bank?

We are putting in some amount of capital. Now it is for RBI to draft a scheme and the government of India to approve it.

How much capital you are going to put into the new bank?

We have underwritten Rs 1,800 crore between partners (CFS and BharatPe), before we start diluting. Whether we dilute or not, Rs 1,800 crore is underwritten by us, of which Rs 500 crore will be there on Day one. Another Rs400 crore will be there within the first year, and other Rs900 crore will be available on tap from the partners. We will increase it as and when required depending on the growth of the business.

How will the procedure of acquiring PMC Bank work out?

Before we can amalgamate the PMC Bank, we will have to be an operational bank. Under Section 45 of the Banking Regulation Act, one can only prepare a merger scheme between two banks and therefore the process will start only once we have been converted into a bank. So, you need to necessarily become a bank first. Then an amalgamation scheme will be proposed to the government of India and then final notification will come after approvals.

How soon can we see small finance bank shaping up?

Our effort is to do as soon as possible, but there is some procedural time in terms of an EGM has to be called, and we have to incorporate our company. Some of these timelines are beyond our control. However, we are hoping to complete it as soon as possible. It will definitely happen within 120 days timeline.

You would have gone through the latest balance sheet of PMC Bank in detail. What are the immediate pain points and how you are going to deal with it?

In terms of pain points, there is a negative net worth and that is an issue in any financial institution. How I am going to deal with it? I cannot tell, because a lot of it will depend on what gets approved in the amalgamation scheme. So, the biggest pain point is the negative net worth which was created due to poor management and fraudulent transactions in the lending side. Otherwise, the bank was well known for good service. And that is what is really hurting depositors, because their money got misused.

What should PMC Bank depositors expect from new owners What is your intent to deal with depositors?

The intent is to start, we must get to a point which is better than liquidation. How much that will be dependent on the scheme.

Was there any discussion with RBI on PMC depositors?

Till this time, the clock was on standstill for PMC Bank depositors, and now at least the clock has started. Now, the question for depositors is when and how much they will be able to withdraw? I think after getting the licence we will be in position to discuss it with RBI.

How will you control PMC depositors moving out of the bank? What is the strategy there?

We will not want to stop PMC depositors. However, we will convince them that there is a new management and a new set-up. We will be able to manage things better. We will try that to an extent that is possible. However, one of the reasons we have been given licence is that if somebody calls for money, we will have to pay.

Is there any incentive you have planned for the depositors?

Over the next four months, we will be giving a thought to these kinds of things to create some incentives. Is there a way we can create some financial incentives? We will work on that. SFBs anyway pay higher than the market even today to depositors.

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


The Reserve Bank of India proposes to call tenders for Appointment of structural consultant for design check, seismic analysis and repair, rehabilitation & retrofitting works of Bank’s Main Office Building (MOB) and its Annexe building, Ahmedabad and issuing certificate of structural safety and soundness of the buildings. Interested/desirous consultants, who strictly meet the pre-qualification criteria may respond.

2. The prequalification criteria and other details as well as format for submission of basic information can be downloaded from the RBI’s website (https://www.rbi.org.in/) under the section ‘Tenders’.

3. Last date and time for Submission of Tenders: Up to July 13, 2021, 03.00 P. M.

4. The Bank reserves the right to reject any or all tenders without assigning any reason thereof and no correspondence will be entertained in this regard.

Address

The Regional Director
Reserve Bank of India,
Ahmedabad

[ad_2]

CLICK HERE TO APPLY

Reserve Bank of India – Tenders

[ad_1]

Read More/Less


1. Tenders by e- tendering process are invited for the “Comprehensive Annual Maintenance Service Contract for Operation & Maintenance of Sewage Treatment Plant installed at Staff Quarters, Baramunda”. The tender will be applicable for initial period of 7-months w.e.f. September 01, 2021 to March 31, 2022. However, the contract can be extended for further period of two years (one year at a time) subject to satisfactory performance of the successful bidder and adherence to contractual obligations by the service provider. 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 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 March 31, 2021 and have a minimum yearly turnover of 100% of the estimated cost during the 3 financial years i.e. 2020-21, 2019-20 and 2018-19 are eligible for tender.

Similar works means undertaking the Comprehensive maintenance of environmental machines installed for recycling of Wastes, Sewage Water, etc.

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. 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. 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 three years i.e. 2020-21, 2019-20 and 2018-19. 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. 4.(e) Details of bank accounts Full particulars of their bank accounts, like account No., type, when opened, etc. should be given. 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. 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. 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 tender 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, if felt necessary. 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. 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. June 21, 2021 from 6:00 pm. A pre-bid meeting will be held on July 20, 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 02, 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 ₹ 14,066 (Rupees Fourteen Thousand Sixty-six only) (2% of estimated cost) 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/4/21-22/ET/4 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 ₹ 7,03,280 (Rupees Seven Lakh Three Thousand Two Hundred Eighty only) iv. Date of NIT (along with complete tender) available to parties to download – Tender activation on portal-Tender ‘Live’ for all June 21, 2021 @ 6:00 pm onwards v. Date & time for start of Off-line Pre-bid meeting July 20, 2021 @ 11:00 am vi. Earnest Money Deposit ₹ 14,066 (Rupees Fourteen Thousand Sixty-six only) 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 02, 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 July 21, 2021 @ 02:00 pm xi. Close Bid date – Date of closing of online e–tender for submission of Techno-Commercial Bid & Price Bid August 02, 2021 @ 02:00 pm xii. Part I Bid opening date August 02, 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 02, 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 banker. The Bank shall evaluate the said reports before opening of the Part-II of the tender. 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

1 655 656 657 658 659 16,278