Personal Finance – Page 144

Smallcap And Largecap Stocks To Buy As Recommended By Sharekhan

August 31, 2021 root Personal Finance

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Ramkrishna Forgings

“We maintain our Buy rating on Ramkrishna Forgings with a revised price target of Rs 1,204, led by a continued growth momentum for commercial vehicle segment in India, Europe and North America and an upgrade in earnings estimates.

We interacted with the company’s management to understand the business outlook in its key geographies and the reason for fund raising resolution at the board meeting. Ramkrishna Forgings is witnessing demand across geographies, product portfolio and clients, driven by strengthening business with existing clients, acquisition of new clients and foray into new segments,” the brokerage has said.

It also recently bagged LOI for its warm forging business of Rs 12 crore per annum from a major global axle manufacturer located in India.

“The North American business is driven by light commercial vehicle (LCV) business, robust demand recovery in oil and gas segment and evolving piston business. The Europe business has a robust outlook, led by increasing business from existing clients and acquisition of new clients,” the brokerage has said.

Reasons to buy the stock the stock of Ramkrishna Forgings

According to Sharekhan, the Indian government is offering various incentives such as PLI scheme, make-in-India and Atmanirbhar Bharat Mission, which will provide a strong platform for automobile suppliers such as Ramkrishna Forgings.

“We believe that has a strong global footprint and is serving to leading OEMs, not only in the automotive segment but other sectors as well. We expect Ramkrishna Forgings to gain market share internationally, as it has completed its major capex. We have increased our earnings estimates for FY22E and FY23E by 15.8% and 28.1%, respectively, driven by new order wins and margin expansion. We have introduced FY2024E estimates. The stock is also available below its historical average multiples at P/E of 15.1x and EV/EBITDA of 7.6x on its FY2023E estimates. We reiterate buy rating on the stock with a target price of Rs 1,204,” the brokerage has said.

The stock of Ramkrishna Forgings was last trading at Rs 999 on the NSE.

Buy Bharti Airtel: Sharekhan

According to Sharekhan, Bharti Airtel has been gaining market share in both wireless and non-wireless business even during challenging times, because of its relentless focus on improving customer experience, strengthening its core business and building digital capabilities.

“The potential tariff hike in the coming months along with steady 4G subscriber additions, continued increase of postpaid customer base and strong growth potential in non-wireless business is expected to boost the company’s EBITDA growth at a 22% CAGR over FY2021-FY2023. We introduced FY2024 numbers in this note. At the current market price, the stock trades at a reasonable valuation of 8x its FY2023E EV/EBITDA. We continue to remain positive on Bharti given its proactive capital raise plan to accelerate growth, revenue market share gains across portfolios, improving free cash flows, continued asset monetisation efforts and strong competitive position. Further, any strategic investment by any global tech company could be a further re-rating trigger. We maintain a Buy rating on the stock with an unchanged price target of Rs. 750,” the brokerage has said.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage houses are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only and is picked from the brokerage report of Sharekhan. Be careful while investing as the Sensex has now crossed 55,000 points. Investors can invest small amounts and avoid putting lumpsum.

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Cardano returns 150% in a month to become the third-largest cryptocurrency, BFSI News, ET BFSI

August 31, 2021 root Personal Finance

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A little-known digital token tied to the Cardano blockchain has just surpassed other top alt-coins to become the third-largest virtual currency worldwide, as network developers aim to capitalise on the surge in decentralised finance that has swept the world.

Currently, the popular alt-coin traded on cryptocurrency exchanges like CoinSwitch Kuber , Cardano’s native coin, ADA, defied a major price crash warning to rise to an all-time high, surpassing the previous record. For the very first time on Friday, the ADA/USD rate of exchange surpassed $2.56, marking the culmination of a 154.54% price increase that began on July 20. This was achieved despite renowned trader Peter Brandt’s warning of a price fall, which was predicated on a typical bearish pattern known as the head and shoulders pattern.

With the price of the ADA coin soaring by about 50% in only the past week, there is growing confidence that new technological advancements will enable payment systems on Cardano earlier than the previously declared date of September 12. This will allow its network to provide profitable services like DeFi, where Ethereum presently holds a dominant position.

Upgrade set in motion as ADA prepares for DeFi
In anticipation of the planned “Alonzo” upgrade, which is scheduled to be released on September 12, ADA investors are continuing to drive the value of Cardano higher. The Alonzo upgrade will bring smart-contract* functionality to the blockchain, allowing Cardano to establish itself as a legitimate player in the decentralised finance (DeFi) space.

ADA is among the most highly sought-after cryptocurrencies for new traders due to its still-relatively low price and excellent marketing as one of the potential “Ethereum killers.” There is little reason to suspect that Cardano is a favourite of the crypto world, and ADA is among the most highly sought-after cryptocurrencies for new traders due to its still-relatively low price and a promising future.

With Cardano’s ability to handle smart contracts—self-executing agreements among buyers and sellers—the token has gained consistently while Ethereum, Cardano’s core competitor, continues to dominate the growing $100 billion decentralised finance sector.

Recently, the Solana blockchain ecosystem began to take shape with DeFi and NFTs, but despite the fact that Cardano has no actual use cases as of yet, the cryptocurrency’s market capitalization is about 4x the size of Sol’s market capitalization of $20 billion. Cardano has practically risen from the ashes on the backs of speculators and the promise of a fantastic and extremely transparent development team.

*What are Smart Contracts?
Smart contracts, also known as blockchain contracts, are distinguished by the method in which they assure conformity between the two parties involved in the transaction. The immutability of a self-executing contract is one of the most notable characteristics of this type of contract. It implies that once codes, regulations, and even transactions have been written into the blockchain, it is hard to reverse, alter, change, or tamper with them.

Smart contracts, similar to the traditional ones, are contracts between two or more parties that do not require the participation of a third party to monitor or enforce the agreement.

It is completely self-executing!
As part of its operation, the blockchain network preserves a transaction record that is visible, secure, and unchangeable, ensuring that evidence of ownership is established and transferred. Contract discussion and application are made considerably more accessible, and the whole edit record of the deal is made publicly visible to all parties involved.

Cryptocurrencies on a bullish run
When people use decentralised finance, also known as DeFi, they are transferring financial functions directly onto digital ledgers, allowing them to perform things such as, lend or borrow cash and collect interest in a savings-like account, all without the need for traditional middlemen such as banks. Its growing prevalence is part of a broader trend of rising blockchain usage, which is becoming more widespread.

A series of recent rises in cryptocurrencies such as Bitcoin, Ether, ADA, and other tokens pushed the cryptocurrency market to surpass $2 trillion in value this weekend, a first since the mid-May crash.

With a gain of 1,300% in only one year, ADA is among the top-five best-performing cryptocurrencies, outpacing gains of 1,030% for Binance Coin, 330% for Ether, and 59% for Bitcoin, among other cryptocurrencies. The token, on the other hand, is extremely vulnerable to the enormous volatility of the larger cryptocurrency market.

As a result of RBI’s crypto crackdown in 2018, the value of ADA plummeted by roughly 90%, ushering in a years-long bear market for the young sector. However, with the emergence of popular crypto exchanges in India, investments in crypto assets jumped from $200 million in 2019 to $40 billion in 2020. As of today, CoinSwitch Kuber , India’s leading crypto exchange has over 9 million registered users invested in crypto.

All eyes will now be on the September 12 “Alonzo” upgrade and how it will tie back to ADA’s current positive run. If things go well, ADA could be seen as a primary competitor to Ethereum, ushering yet another era in the cryptocurrency sector.

Disclaimer: The above content is non-editorial, and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or necessarily endorse any of the above content, nor is responsible for them in any manner whatsoever. The article does not constitute investment advice. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified.

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Stock To Buy: A Telecom Stock That May See Accelerated Growth In Future

August 31, 2021 root Personal Finance

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Reasons to buy the Bharti Airtel stock

According to Emkay Global, Bharti Airtel’s board yesterday approved a fundraise of up to billion through a callable rights issue at Rs 535 per share, implying a 7% equity dilution. The promoter group will fully subscribe to their rights entitlement and also to the unsubscribed portion of the issue.

“Sunil Bharti Mittal highlighted that issue proceeds would be utilized for balance sheet deleveraging, growth capital expenditure across business segments and impending 5G spectrum auctions. He also allayed investor concerns about capital allocation and promoter stake,” the brokerage said in its report.

Tariff hike to benefit Bharti Airtel

“We believe that management articulated its near-and long-term strategy well, with strong visibility on revenue growth across businesses, and expectations of healthy return ratios in the near term. However, it did not quantify the potential increase in capex spends to support the high growth rates. Apart from that, it addressed concerns about investments in Indus Tower, Airtel’s investment in OneWeb and debt-free balance sheet at the promoter level (Bharti Telecom). We continue to believe that Bharti Airtel remains well-placed to gain the maximum from tariff hikes given the quality of subscribers and with Vodafone India’s weakening financial position leading to a strong influx of new subscribers,” the brokerage further added.

According to Emkay Global, given the tariff hike expectations in H2FY22 and strong FCF generation, the underlying balance sheet is well-funded, and the current fund-raising is to enhance investments for 5G spectrum purchase, with the service launch expected in H2FY23.

We believe that Bharti Airtel is augmenting investments to gain the maximum from Vodafone India’s expected subscriber losses and keep its balance sheet well-funded for the impending 5G

spectrum auctions and service roll-out. We retain Buy on the stock with a SOTP-based target price of Rs 730,” the brokerage has said.

Disclaimer

The above stock is based on the report of Emkay Global. Investing in stocks is 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 are at record peaks. Please consult a professional advisor.

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Saibal Ghosh on 3 sectors offering best risk rewards now, BFSI News, ET BFSI

August 31, 2021 root Personal Finance

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“The market is expensive. Some of the pockets of the market are even more expensive. The market tends to overshoot the fundamentals from time to time but this is the time to pick stocks very carefully,” says Saibal Ghosh, Chief Investment Officer, Aegon Life Insurance Company.

How do you analyse the market in valuation terms? If you look at the valuations versus the earnings prospects of corporate India, does it appear reasonable?
Valuations are definitely very high on a PE multiple basis but at this point of time, the market is discounting the earning growth cycle for next three to five years and it is not very unlikely that at the beginning of the cycle the multiple remains at a high level. The steepness in the yield curve is also telling us that the market is expecting economic growth to sustain for the next three to five years. So yes, the market is expensive. Some of the pockets of the market are even more expensive. The market tends to overshoot the fundamentals from time to time but this is the time to pick stocks very carefully.

Are you participating in many of these consumer tech IPOs because this argument of valuation appears to be most hectic and loudest in those pockets? Are you looking forward to some of the future offerings?
Yes we do because the belief in technology is definitely there and from that point of view, we are at an inflection point where we are seeing disruptions in some of the sectors. Let us take for example two-wheelers. The disruptions are here and at the same time, some of the new tech, new age digital and e-commerce companies are getting listed and maybe the composition of the index will undergo a sea change in the next two to three years.

Given the valuation at the end of the day, the market loves to buy growth and many of these e-commerce players which are coming to the market, are aggregators and from that point of view, it is very difficult to value them by traditional valuation methods. Having said that, some of the valuations will also evolve. But at the end of the day, the market loves to buy growth and I firmly believe that this is the beginning of a change in the composition of index in days to come and we as fund managers have to be ahead of it and recognise some of it.

How are you approaching the broader markets, the midcaps in particular? What kind of largish or midsize midcaps are you picking?
Not a particular category, it is more a bottoms up approach because at the end of the day, we believe in the domestic growth story to pick up in days to come. We believe that this growth cycle will continue for the next three to five years.

If we really were to play the domestic growth story, midcaps typically represent the India growth story better than many of the largecaps. So, some of the midcap stocks can get into your portfolio from that perspective. These are little largish midcaps, good quality names with no governance issues and strong business models. So yes, we are banking on a few of them.

Secondly, from a broader market perspective, so far we were playing an inflationary trade where we were overweight on the source of inflation like commodities. All that has given us handsome returns, but going forward, we believe that the companies with a stronger pricing power even in the domestic market will perhaps fetch a good return and as a result, some of the midcaps are in our portfolio.

Where exactly are you seeing the best margin of safety and most attractive risk rewards including contra calls?
There are three sectors where we are looking broadly. On the industrial side, there are some stocks where we are finding great opportunities and some of the capex stocks which are on the digital front. Those are the areas we are finding extremely important because we are at an inflection point where digital is taking over. That expansion used to happen in the industrial capex sector as well. So we are banking on some of those stocks also.

We are also finding real estate very interesting given the valuation. The affordability index has gone up, the RERA is definitely a great change and we are also seeing some of the new generation housing finance companies coming up. We are quite positive on the real estate sector and we are finding value there. From a risk return perspective, that would be an interesting pocket.

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Moody’s, BFSI News, ET BFSI

August 31, 2021 root Personal Finance

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NEW DELHI: Moody’s Investors Service on Tuesday said the economic activity in India is picking up with the gradual easing of Covid restrictions and there could be further upside to growth as economies around the world gradually reopen.

In its August update to ‘Global Macro Outlook 2021-22’, Moody’s retained India’s growth forecast for the 2021 calendar year at 9.6 per cent and 7 per cent for 2022.

“In India, economic activity is picking up alongside a gradual easing of restrictions that were implemented in response to the second wave. And there is further upside to growth as economies around the world progressively reopen,” Moody’s said.

The rating agency said it expects the Reserve Bank to maintain an accommodative policy stance until economic growth prospects “durably improve”.

“We expect the RBI …. to maintain the status quo until the end of this year. We expect to see an increasing number of emerging market central banks shift to a neutral policy stance amid their gathering growth momentum later this year and early next year,” Moody’s said.

Indian economy contracted 7.3 per cent in 2020-21 fiscal. GDP growth in the current fiscal was estimated to be in double digits initially, but a severe second wave of the pandemic has led to various agencies cut growth projections.

Moody’s had in June projected a 9.3 per cent growth for the current fiscal ending March 2022.

It said the rapid global spread of the highly contagious delta variant of the coronavirus is a stark reminder that the global pandemic is far from over, although some vaccines appear to be highly effective at suppressing the severe disease, reducing the need for hospitalisations and lowering the incidence of fatalities.

Vaccination rates, the extent of serious infections and mobility restrictions remain the key determinants of where countries find themselves in their economic recovery cycle, it said, adding while the spread of the delta variant has prompted mobility restrictions in Asia, renewed lockdowns are far less likely in other regions of the world.

Moody’s estimates that the G-20 economies will grow by 6.2 per cent in 2021, after a 3.2 per cent contraction last year, followed by 4.5 per cent growth in 2022.

G-20 advanced economies will grow by 5.6 per cent collectively in 2021 while emerging markets will collectively expand by 7.2 per cent in 2021, it added.

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Is another bitcoin crash inevitable?, BFSI News, ET BFSI

August 31, 2021 root Personal Finance

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There is one simple thumb rule to investing in assets, Bitcoin included, and it is – learning to take volatility in your stride. Given the fickle nature of the investment world where the graph swings wildly, it takes a strong heart to ride the wave. Trading in Bitcoins is no exception.

A lot has happened since the mysterious Satoshi Nakamoto gave the first Bitcoin specification with proof of concept in 2009. Two years later, on February 9, 2011, the cryptocurrency (or crypto) reached parity with the US Dollar at a 1:1 ratio. This means you could buy a Bitcoin for just one dollar. Since then, Bitcoin has been on a roller coaster ride touching $62,006.92 on April 17, 2021. To put things into perspective, between Feb 9, 2011 and April 17, 2021, the value of the Bitcoin has gone up by nearly 62,00,600 percent. Yes, the figure could boggle your mind, but that’s what it is. As of August 29, the crypto was trading at $48,616.15. The $1,00,000 mark predicted by optimists is yet to happen though.

Nakamoto, in setting a 21 million cap, created a distinct identity for the world’s foremost cryptocurrency. With a circulating supply of around 18 million Bitcoins against the above maximum cap, the fluctuation is only expected to increase. Regulatory statements coming out from Russia and China and idiosyncrasies of investors such as Elon Musk and Michael Saylor only add to the edge-of-the-seat excitement in the Bitcoin world.

History of Bitcoin crash
Bitcoin has witnessed several small and big ‘Boom and Bust’ cycles ever since it arrived on the investment horizon. Here are two significant crashes that are still talked about.

Between April 10 and 12, 2013, the cryptocurrency shed more than 80 percent of its value.
In December 2017, the cryptocurrency’s value peaked at around $20,000, and after this high, it considerably collapsed.

When it comes to Bitcoins, everyone’s opinions stand divided. Warren Buffett had termed Bitcoin as a risky and speculative asset. On the other end of the trading spectrum, support from critic-turned-fan Saylor makes Bitcoin investors hum Yeh Dil Maange More.

The unpredictability notwithstanding, what makes investing in Bitcoins interesting is that, unlike the institutional investors who buy it in large numbers, individuals too can own a fraction of this crypto down to the eighth decimal point. It thus makes sense when Saylor tweeted last year that he holds 17,732 Bitcoins that he bought for $9,882 apiece. This declaration came much before the business analytics platform – MicroStrategy that he heads did so. More and more institutional investors are pouring money into Bitcoins as compared to retail ones.

Will we see another Bitcoin crash?
Any investment is done primarily for returns. The higher the returns, the higher would be the investment. Backing exactly this sentiment, Saylor and his ilk preferred Bitcoins over gold. In 2020, Bitcoin outdid every other asset to give 318 percent returns.

Over the last year or so, there has been a steady influx of positive stories on the Bitcoin front:

In September 2020, MicroStrategy acquired a total of 38,250 bitcoins valued at $425 million and subsequently announced its intentions to raise another $537.2 million to buy even more bitcoin
In October 2020, PayPal allowed their customers to buy, sell, and hold bitcoin using their online wallets.
In February this year, electric car manufacturer Tesla announced that they had bought $1.5 billion in Bitcoins. The company added that they are also likely to accept the cryptocurrency as payments.
Recently, El Salvador has adopted Bitcoin as legal tender and the Argentinian President also said that he is open to the idea of treating cryptos as legal currency.

These stories have boosted the sentiment around Bitcoins.
However, going back to what we mentioned at the start of the story. Bitcoin and other cryptocurrencies are highly volatile. Their prices will touch highs and lows all the time, so it’s tough to predict a rise or crash. Nobody can say that with any guarantee or certainty. But what you can do as an investor is be prudent when it comes to investing in Bitcoins.

One approach that you can follow is rupee-cost averaging. Instead of buying Bitcoins for a lump sum amount in one go, what you can do is spread your investment over a period of time. This will shield you from Bitcoin’s volatility upto a certain extent and also give you better returns.

The best time to buy Bitcoin was 2009 and the next best time is today. Helping you invest in Bitcoins in a safe, secure and simple manner is ZebPay. With ZebPay, you can begin your cryptocurrency journey for as little as Rs 100. Start now and get ready to ride the crypto wave!

Bitcoin’s recent report card

December 16, 2020: Bitcoin touches $20,000/coin for the first time ever
April 13, 2021: Bitcoin touches a record high of $63,375
June 22, 2021: Bitcoin slips under $30,000 for the first time in five months
August 2, 2021: Bitcoin rally takes it to the highest level since May at $40,000
August 23, 2021: Bitcoin returns to above the $50,000 mark

Disclaimer: The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to the same. The article does not constitute investment advice. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified.

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Key factors driving the market, BFSI News, ET BFSI

August 31, 2021 root Personal Finance

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NEW DELHI: All-round buying led by IT and pharma stocks lifted benchmark indices to their fresh all-time highs on Monday. Sensex climbed 57,500 mark for the first time ever while Nifty scaled 17,100 level.

A distinguishing feature of this bull market, which started in April 2020, is that it has been remarkably stable without any major correction. Now, with the Fed giving a commentary favourable to bulls, momentum is likely to continue, said an analyst.

“This market has proved skeptics wrong till now. Even while enjoying the party, investors should be prepared for a sharp correction. Partial profit booking is never a bad idea. IT stocks have turned a bit weak perhaps due to dollar appreciation. But experience tells us that the performance of IT companies depends more on the deal wins than the exchange rate. So dips can be used to buy,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

How are the bluechips doing?
After opening in the green, benchmark indices maintained their lead. At 3.18 pm, BSE flagship Sensex was up 674 points or 1.19 per cent to 57,564.71. NSE benchmark Nifty rose 207 points or 1.23 per cent to 17,138.50. The index managed to reach the 17,000 mark from the 16,00 level in just 28 days.

In the 50-share pack Nifty, Bharti Airtel was the biggest gainer, up 2.19 per cent. HCL Tech, Tech Mahindra, Divi’s Labs, TCS, Britannia, Kotak Mahindra Bank and Dr Reddy’s Labs were among other gainers.

Tata Motors was the top loser in the pack, down 0.84 per cent. M&M, ONGC, Hindalco, L&T, SBI, Reliance Industries, IndusInd Bank, and HDFC were among those that traded in the red.

FACTORS DRIVING MARKETS
Good news
Dollar down: The dollar hovered near two-week lows against a basket of currencies, steadying from falls after Fed chief Jerome Powell gave no signal regarding the central bank’s tapering timeline except that it could be “this year.”

Bad news
China growth slows: China’s factory activity expanded at a slower pace in August as coronavirus-related restrictions and high raw material prices pressured manufacturers in the world’s second largest economy.

Broader markets
Broader market indices were trading higher, outperforming their headline peers. Nifty Smallcap was up 0.62 per cent, while Nifty Midcap added 0.44 per cent. Broadest index on NSE, Nifty 500 was up 0.24 per cent.

India Energy Exchange, Affle India, Rossari Biotech, IndiaMart InterMesh, Bombay Burmah and Fortis Healthcare were gainers from the space while PI Industries, Bharat Forge, Jindal Steel, Sterling Wilson Solar, SPARC and Kalpataru Power were under selling pressure.

Global markets
MSCI’s gauge of Asia Pacific stocks outside Japan slipped 0.25 per cent, while Japan’s Nikkei 225 fell more than 0.3 per cent.

Hong Kong’s Hang Seng Index and China’s benchmark CSI300 Index opened down 0.1 per cent and 0.2 per cent, respectively.

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India’s lending market doubles in last five years on personal loans boom, BFSI News, ET BFSI

August 31, 2021 root Personal Finance

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India’s loan market has doubled in the last five years — fiscal 2017 to 2021 — to Rs 156.9 lakh crore, according to a report.

“Over the last five years, retail, microlending and commercial lending portfolios have witnessed an increase by 91%, 157% and 93%, respectively. Retail and commercial lending contribute 49% each to total lending in India and microfinance contributes to 2% of the overall lending pie,” CRIF High Mark, a credit bureau, said its How India Lends, FY 2021 report.

The loan matrix

The overall personal loans portfolio witnessed 2.3X growth in originations by value and 3.8X by volume from FY17 to FY21 while the same for small-ticket personal Loans is 3X growth in originations by value and 11.5X by volume, it said

Credit Cards witnessed 2.4X growth in New Card originations from FY17 to FY20 followed by a drop in FY21.

Auto loans

Two-wheeler loan books saw 1.8X growth in originations by value and 1.2X growth in originations by volume.

Auto loans portfolios recorded 23% growth in originations by value from FY17 to FY19 followed by a de-growth in FY20 and FY21.

For the same period, home loans portfolio observed 32% growth in originations by value and 15% growth. Affordable Home loans grew by 17% in originations by value and 6% by volume

Business loans witnessed 17% growth in originations by value from FY17 to FY20, followed by almost 2X Y-o-Y growth in originations by volume from FY20 to FY21.

Navin Chandani, MD & CEO, CRIF High Mark, said, “Our report, How India Lends – FY21, is an attempt to highlight the credit trends in India, from FY17 to FY21. Lending Institutions and the policymakers could benefit from the report and collaborate to promote a favourable lending environment. As the development of credit spurs economic growth, we are committed to study and publish reports that will benefit the lending ecosystem.

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City Union Bank Revises Fixed Deposit Interest Rates: Check Current Rates Here

August 31, 2021 root Personal Finance

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Documents required to open a fixed deposit account

According to the official website of City Union Bank, following is the list of KYC documents required for opening an account.

ID proof:

Passport
PAN card
Voter’s Identity Card
Driving license
Identity card /confirmation from the employer/other bank (subject to branch’s satisfaction)
ID card issued by recognised Educational Institutions
ID issued by Postal Authorities
Letter from a recognised public authority or public servant (not below the rank of the Tahsildar) verifying the identity and residence of the customer to the satisfaction of the bank
Job card issued by NREGA duly signed by an officer of the State Government
Letter issued by the Unique Identification Authority of India containing details of name, address & Aadhar number

Address proof:

Passport
Voter’s Identity card
Driving licence
Telephone bill (not older than two months – installation should be at least before 6 months)
Bank account statement
Letter from a recognized public authority or public servant (not below the rank of the Tahsildar) verifying the identity and residence of the customer to the satisfaction of the bank.
Electricity bill (latest)
Ration card
Letter from employer (subject to satisfaction of the bank)
ID issued by Postal Authorities
Job card issued by NREGA duly signed by an officer of the State Government
Letter issued by the Unique Identification Authority of India containing details of name, address & Aadhar number.
Consumer Pass Book issued by Gas Agency
A rent agreement indicating the address of the customer duly registered with the State Government or similar registration authority.

City Union Bank Domestic Term Deposit Interest Rates

The following domestic term deposit interest rates are effective as of 01.08.2021. For NRO deposits, only the rates listed under the General category will apply; the senior citizen rate will not apply.

Period	General	Senior Citizens	Bulk Deposit (Rs.2.00cr & above)
7 days to 14 days	3.00%	3.00%	3.00%
15 days to 45 days	3.00%	3.00%	3.00%
46 days to 90 days	3.25%	3.25%	3.00%
91 days to 180 days	3.50%	3.50%	3.00%
181 days to 270 days	3.75%	3.75%	3.00%
271 days to 364 days	4.75%	4.75%	3.00%
365 days	5.00%	5.50%	5.25%
366 days to 550 days	5.00%	5.50%	3.25%
551 days to 2 years	5.25%	5.75%	3.30%
Above 2 years and up to 3 years	5.00%	5.50%	3.00%
Above 3 years and upto 5 years	5.00%	5.00%	2.50%
Above 5 years and upto 10 years	5.00%	5.00%	2.00%
Source: Bank Website, Tax Saver Schemes (both for General category and Senior Citizens) ROI p.a 5.25%

City Union Bank NRE Term Deposits Rates (Senior citizen rate not applicable)

If you close your NRE deposit before one year is over, you won’t get any interest. Preclosure of an account after 1 year but before maturity will result in a penalty, as determined by the bank’s existing policy.

PERIOD	Rate of Interest % p.a
365 days to 550 days	5.00%
551 days to 2 years	5.25%
Above 2 Years and up to 10 Years	5.00%
Source: Bank Website, W.e.f. 01-08-2021

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