Reserve Bank of India – Press Releases
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The Result of the auction of State Development Loans for 3 State Governments held on October 18, 2021.
Ajit Prasad Press Release: 2021-2022/1056 |
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Gold Rates Remains Flat In India Before Diwali, Quoted At At Rs. 47,070/10 Grams, On Oct 18
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Personal Finance
oi-Kuntala Sarkar
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Indian gold rates remained flat on October 18, while dropped marginally in the global markets. Today, 22 carat gold rates are quoted at Rs. 47,070/10 grams and 24 carat gold rates are quoted at Rs. 48,070/10 grams. The Comex gold future dropped by 0.37% and was quoted at $1761.8, while the spot gold prices dropped by 0.35% and were quoted at $1762.20/oz till 4.02 PM IST. On the other hand, the US dollar index in the spot market was at 94.13 at the same time and gained by 0.16%. In India, the Mumbai MCX gold in October future has fallen only by 0.06% today till 4.03 PM IST, and was quoted at Rs. 47,185/10 grams. As the tapering timeline is expected to be announced earlier than expected, gold prices are probably not going to hike significantly now.
Earlier, international gold rates headed north as the International Monetary Fund (IMF) lowered the global economic growth forecast at 5.9% from the previous anticipation of 6%. Risks related to supply chain, price pressures, and the delta variant coronavirus is behind it. Additionally, US economic growth has been was lowered from 7% to 6% because of supply bottleneck. Hence the gold prices reached nearly $1800/oz, but dropped later. Now the gold rates are again being quoted at around $1760/oz, globally. Gold price at around $1760/oz is being considered as a moderate point, not far down, not exceeding the level.
Gold rates in different Indian cities are quoted differently, daily. Today’s gold rates in major Indian cities follow:
| City | 22 carat (INR/10 Grams) | 24 carat (INR/10 Grams) |
|---|---|---|
| Mumbai | 47,070/- | 48,070/- |
| Delhi | 46,450/- | 50,670/- |
| Bangalore | 44,300/- | 48,330/- |
| Hyderabad | 44,300/- | 48,330/- |
| Chennai | 44,620/- | 48,680/- |
| Kerala | 44,300/- | 48,330/- |
| Kolkata | 46,750/- | 49,450/- |
On the present market range, Anna Golubova told Kitco, “But despite Friday’s sell-off, bullish sentiment is still out there, especially with geopolitical tensions flaring up. And the focus is not only gold.”
Commenting on the earlier price hike of gold at $1800, OANDA senior market analyst Edward Moya told Kitco News, “This is a major reversal of trends and very positive for gold. We are starting to see the market growing nervous about the U.S. consumer. Gold is entering a period where risks now outweigh the reopening trade, and we’ll see more safe-haven flows into gold.”
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Equitas Small Finance Bank to raise Rs 1,000cr, BFSI News, ET BFSI
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New Delhi, Oct 18 (PTI) Equitas Small Finance Bank (SFB) on Monday said it will raise up to Rs 1,000 crore through a QIP in order to fulfil the regulatory norms regarding minimum public shareholding. “The board of directors in the meeting today has approved meeting the minimum public shareholding (MPS) requirements stipulated by Sebi by raising a sum not exceeding Rs 1,000 crore (including premium) through Qualified Institutions Placement (QIP),” Equitas SFB said in a regulatory filing.
As per the Sebi norms under Issue of Capital and Disclosure Requirements (ICDR), the SFB is also required to obtain shareholders‘ approval for meeting the MPS requirement. As per data on BSE, the promoter and promoter group have 81.75 per cent stake in Equitas SFB as on June 30, 2021. While the remaining 18.25 per cent is public shareholding.
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CoinDCX ropes Ayushmann Khurrana for its latest campaign
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Cryptocurrency exchange CoinDCX on Monday announced that it has signed actor Ayushmann Khurana as the face for its latest campaign ‘Future Yahi Hain’. The drive is launched to address key concerns surrounding crypto investments amongst the Indian audience.
The kickoff ad to be released during the festive season will feature the actor taking a humorous yet informative approach on crypto, busting myths around the subject.
Ramalingam Subramanian, Head of Brand, Marketing and Communications, CoinDCX said, “Ayushmann has always come across as being a friendly and credible personality who has a knack for connecting with both younger and older generations with his exemplary work. Our focus during this campaign will be to dispel the various myths surrounding crypto-based investing and breaking down the simple steps needed to enable anyone to start their crypto investment journey. We are delighted with our association with Ayushmann and look forward to a great association with one of India’s most-loved celebrities.”
“I’m delighted to be associated with CoinDCX’s ‘Future Yahi Hai’ Campaign which, in the truest sense, is an initiative to raise awareness about the rising asset class of crypto-based investments. I’m impressed with CoinDCX’s persistent endeavour to guide investors towards making educated and smart investments after thorough research,” Khurrana said.
With a career spanning over nearly decades Khurrana has proved to be quite a role model for regular Indians as a true achiever who’s known to be talented across spectrum of acting, singing, writing and television hosting.
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Nomura India Business Resumption Index rises to an all-time high
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The Nomura India Business Resumption Index rose to an all-time high of 108.8 for the week ending October 17 from 105 in the prior week (pre-pandemic level=100), with a broad-based rise across most sub-components.
Mobility indices rose sharply ahead of the festive season. The Apple driving index jumped 14.1 percentage points (pp) over the week, while Google workplace and retail & recreation indices rose by 2.7 pp and 3.1 pp, respectively.
The labour participation rate rose to 41.6 per cent from 40.4 per cent, while power demand fell 1.7 per cent w-o-w (sa) after rising 0.3 per cent in the prior week.
Pace of vaccination falls
The pace of vaccination has fallen in October, but India will cross the milestone of administering one billion vaccine doses this week. About 20.5 per cent of the population is fully vaccinated and 50.4 per cent have received at least one dose, which is enabling reopening and has boosted mobility. With domestic flights allowed to operate at full capacity from today, the transportation sector should get a further boost.
“Even as demand is recovering, supply bottlenecks have emerged as a bigger constraint. Coal shortages are resulting in supply disruptions to non-power customers, while chip shortages have hurt passenger vehicle sales during the festive season. As supply struggles to tango with demand, we see higher inflation as a bigger risk,” Nomura said
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Reserve Bank of India – Press Releases
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Ajit Prasad Press Release: 2021-2022/1055 |
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List of Navratna Companies In India 2021
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Bharat Electronics Limited
BEL was founded in 1954 in partnership with CSF, France (now Thales) to manufacture basic communication equipment. BEL now manufactures a wide range of cutting-edge equipment in fields such as Defence Communication, Radars, Naval Systems, C4I Systems, Weapon Systems, Homeland Security, Telecom & Broadcast Systems, Electronic Warfare, Tank Electronics, Electro-Optics, Professional Electronic Components, and Solar Photovoltaic Systems.
Bharat Electronics Ltd., founded in 1954, is a Large Cap business in the Defence sector with a market capitalization of Rs 51,302.46 crore. The stock returned 141.32 percent over three years, compared to 73.72 percent for the Nifty 100 index.
Container Corporation of India
The Indian Railways, Ministry of Railways, Government of India owns Container Corporation of India Limited. CONCOR was founded in March 1988 under the Companies Act and began operations in November 1989, taking over Indian Railways’ existing network of seven inland container facilities. The stock returned 40.04 percent over three years, compared to 73.72 percent for the Nifty 100.
Engineers India Limited
Engineers India Limited (EIL) is a government-owned company. It is owned by the Indian government’s Ministry of Petroleum and Natural Gas. It was founded in 1965 to serve petroleum refineries and other industrial enterprises with engineering and related technical services.
Since the last five years, this company has had no debt. The stock returned -33.66 percent over three years, compared to 89.74 percent for the Nifty Smallcap 100. Engineers India Ltd., founded in 1965, is a Mid Cap business in the Services sector with a market capitalization of Rs 4,375.50 crore.
Hindustan Aeronautics Limited
Hindustan Aeronautics Limited, located in Bengaluru, India, is an Indian state-owned aerospace and defence firm. HAL, which was founded on December 23, 1940, is one of the world’s oldest and largest aerospace and defence companies. The company saw a quarterly sales decline of 83.75 percent, the lowest in the prior three years. Stock returned 82.78 percent over three years, compared to 73.72 percent for the Nifty 100 index. Hindustan Aeronautics Ltd., founded in 1963, is a Large Cap firm in the Defence sector with a market capitalization of Rs 48,277.20 crore.
Mahanagar Telephone Nigam Limited
Bharat Sanchar Nigam Limited owns Mahanagar Telephone Nigam Limited, d/b/a MTNL, which is headquartered in New Delhi, India. MTNL operates in India’s metro cities of Mumbai and New Delhi, as well as the African island nation of Mauritius. For the fourth quarter in a row, the company has lost Rs 688.7 crore. The stock returned 41.79 percent over three years, compared to 89.74 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 41.79 percent, whereas the S&P BSE Telecom provided investors an 83.5 percent gain. It was founded in 1986 and is a Telecommunications Small Cap company with a market capitalization of Rs 1,250.55 crore.
National Aluminium Company Limited
NALCO (National Aluminium Corporation Limited) is a government-owned company with integrated and diversified operations in mining, metals, and power. It is owned by the Ministry of Mines of India. National Aluminium Business Ltd., founded in 1981, is a Mid Cap company in the Metals – Non Ferrous sector with a market capitalization of Rs 19,762.16 crore. The government of India currently owns 51.5 percent of NALCO. In the fiscal year ended March 31, 2021, the company generated a return on equity of 12.16 percent, surpassing its five-year average of 9.99 percent. The stock returned 61.32 percent over three years, compared to 92.3 percent for the Nifty Midcap 100.
NBCC (India) Limited
The Indian government firm NBCC (India) Limited is a blue-chip company. It is owned by the Indian government’s Ministry of Housing and Urban Affairs. Since the last five years, the company has had no debt. The stock returned -10.69 percent over three years, compared to 92.3 percent for the Nifty Midcap 100. Over a three-year period, the stock returned -10.69 percent, compared to S&P BSE Industrials, which returned 92.84 percent. NBCC (India) Ltd., founded in 1960, is a construction-related Mid Cap company with a market capitalization of Rs 8,721.00 crore.
NMDC Limited
NMDC Limited is a mineral producer controlled by the government. The Ministry of Steel, Government of India, has administrative jurisdiction over it. Iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and other minerals are all explored. In the fiscal year ended March 31, 2021, the company generated a ROE of 21.0 percent, surpassing its five-year average of 15.94 percent. Annual sales growth of 28.72 percent surpassed the company’s three-year CAGR of 8.91 percent. The stock returned 36.01 percent over three years, compared to 73.72 percent for the Nifty 100.
NLC India Limited
NLC India Limited is a Navratna government of India firm that operates in the fossil fuel mining and thermal power production sectors in India. In the last five years, the company’s ROE has been steadily falling. The majority of profits were distributed as dividends to stockholders last year. The stock returned -8.2 percent over three years, compared to 92.3 percent for the Nifty Midcap 100. NLC India Ltd., founded in 1956, is a Mid Cap business in the Power sector with a market capitalization of Rs 10,788.03 crore.
Oil India Limited
Oil India Limited is the government’s second-largest hydrocarbon exploration and production company. It is owned by the Indian government’s Ministry of Petroleum and Natural Gas, with its operational headquarters in Duliajan, Assam. In the fiscal year ended March 31, 2021, the company generated an ROE of 14.9 percent, surpassing its five-year average of 10.65 percent. Annual sales growth of 77.13 percent surpassed the company’s three-year CAGR of 26.01 percent.
Power Finance Corporation Limited
The Ministry of Power, Government of India, owns Power Finance Corporation Ltd., an Indian financial institution. It is the financial backbone of the Indian power sector, having been established in 1986. PFC has a net worth of INR 383 billion as of September 30, 2018. The stock returned 81.54 percent over three years, compared to 73.72 percent for the Nifty 100 index. Power Finance Corporation Ltd., founded in 1986, is a Large Cap firm in the Term Lending Institutions sector with a market cap of Rs 39,324.01 crore.
Rashtriya Ispat Nigam Limited
Vizag Steel, also known as Rashtriya Ispat Nigam Ltd, is a government-owned steel producer situated in Visakhapatnam, India. It is owned by the Ministry of Steel of the Government of India. It is the country’s first shore-based Integrated Steel Plant, and it is known for producing high-quality goods that satisfy customers.
It is the global leader in long goods and serves a wide range of industrial sectors.
Rural Electrification Corporation Limited
In India’s power industry, REC Limited, originally Rural Electrification Corporation Limited, is a public Infrastructure Finance Company. The firm is a government-owned corporation that finances and promotes power projects throughout India. The stock returned 59.26 percent over three years, compared to 92.3 percent for the Nifty Midcap 100. REC Ltd., founded in 1969, is a Large Cap firm in the Term Lending Institutions sector with a market capitalization of Rs 32,536.77 crore.
Shipping Corporation of India Limited
The Shipping Corporation of India is a government-owned company in India. It runs and manages vessels that service both national and international lines and is managed by the Ministry of Shipping, Government of India, with headquarters in Mumbai, Maharashtra, India. Sales have decreased by 17.98%. For the first time in three years, the company’s revenue has decreased. The stock returned 226.06 percent over three years, compared to 92.3 percent for the Nifty Midcap 100. Shipping Corporation of India Ltd., founded in 1950, is a Mid Cap company in the Shipping industry with a market capitalization of Rs 6,614.35 crore.
List Of Navratna Companies In India 2021
| Navratna Companies | Price in Rs. | PE ratio |
| Bharat Electronics | 217.65 | 25.62 |
| Container Corporation of India | 686.30 | 59.57 |
| Engineers India | 79.15 | 24.30 |
| Hindustan Aeronautics | 1,484.10 | 15.11 |
| Mahanagar Telephone Nigam | 19.85 | – |
| National Aluminium Company | 123.20 | 14.06 |
| NBCC | 49.55 | 35.38 |
| NMDC | 157.80 | 5.00 |
| Oil India Limited | 238.95 | 5.69 |
| Power Finance Corporation | 150.95 | 3.18 |
| Rural Electrification Corporation | 165.55 | 3.71 |
| Shipping Corporation of India | 142.50 | 12.82 |
| NLC India | 77.40 | 8.57 |
List Of Navratna Companies In India 2021
Please note investing in stocks is subject to market risks and one needs to be cautious at this point of time as markets have gone-up sharply. This article is only for information purposes. Neither the author, nor Greynium Information Technologies Pvt Ltd would be responsible for losses incurred based on a decision made.
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Reserve Bank of India – Press Releases
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Reserve Bank of India – Press Releases
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April 14, 2015
Dear All
Welcome to the refurbished site of the Reserve Bank of India.
The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.
With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.
The site can be accessed through most browsers and devices; it also meets accessibility standards.
Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.
Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.
Thank you for your continued support.
Department of Communication
Reserve Bank of India
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RBL Bank working on Abacus 2.0 for digital engagement, customer acquisition
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Private sector lender RBL Bank is working on a new digital platform that would help scale up customer acquisition over the next few years.
Called Abacus 2.0, it would enable the bank to provide products and services to new as well as existing customers digitally, said Surinder Chawla, Head, Branch Banking, RBL Bank, noting that more customers have switched to digital banking channels since the start of the pandemic.
The bank has about 40 lakh customers in branch banking and credit card as of June 30, 2021 and it expects it to rise to about 1.2 crore to 1.4 crore product-agnostic customers over the next three to four years through Abacus 2.0, according to its investor presentation for the first quarter of the fiscal.
Bank-cum-fintech
The objective would be to offer a combination of services provided by banks and fintechs including frictionless on-boarding and use of behavioural data to provide recommendations across financial and non-financial needs of the customer.
“Every fintech does only one use case. But as a bank, we can do many more use cases. So we are trying to build it as an account and we are adding lot of use cases to it,” he said in an interaction with BusinessLine, adding that it would enable the bank to cross sell more products to its existing customer base.
Technology partner
The lender is also evaluating a technology partner for the product and Chawla said he expects the platform to be fully launched in a few quarters.
Also see: Q2 disbursements by some banks rise but overall loan growth muted
The services offered would include payments, deposits, insurance, credit card, investments, loans and buy now pay later.
Branch expansion
RBL Bank had earlier launched Abacus 1.0 as a platform to increase its customer base in Tier 1 cities without having to disproportionately invest in high upfront fixed costs of branches and people.
Chawla however, said the bank will continue to focus on branch expansion as well and plans to open about 70 more branches this fiscal.
“We will open up 70 plus branches. So we should end the year upwards of 500 branches,” he said, adding that the bank will open a similar number of branches for the next two to three years.
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