Reserve Bank of India – Notifications

Notifications

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April 14, 2015




Dear All




Welcome to the refurbished site of the Reserve Bank of India.





The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.




With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.




The site can be accessed through most browsers and devices; it also meets accessibility standards.



Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.



Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.



Thank you for your continued support.




Department of Communication

Reserve Bank of India


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Reserve Bank of India – Press Releases

Press Releases

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1. Reserve Bank of India – Liabilities and Assets*
(₹ Crore)
Item 2020 2021 Variation
Sep. 18 Sep. 10 Sep. 17 Week Year
1 2 3 4 5
4 Loans and Advances          
4.1 Central Government – – – – –
4.2 State Governments 23430 12260 13300 1040 -10129
* Data are provisional.

2. Foreign Exchange Reserves
Item As on September 17, 2021 Variation over
Week End-March 2021 Year
₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn. ₹ Cr. US$ Mn.
1 2 3 4 5 6 7 8
1 Total Reserves 4701267 639642 -13031 -1470 482314 62659 698084 94605
1.1 Foreign Currency Assets 4248108 577986 -8493 -892 323940 41293 564897 76522
1.2 Gold 272700 37103 -4290 -567 24977 3223 -2293 -337
1.3 SDRs 142839 19434 -91 -4 131975 17948 131950 17952
1.4 Reserve Position in the IMF 37621 5119 -157 -8 1423 194 3531 468
*Difference, if any, is due to rounding off

4. Scheduled Commercial Banks – Business in India
(₹ Crore)
Item Outstanding as on Sep. 10, 2021 Variation over
Fortnight Financial year so far Year-on-year
2020-21 2021-22 2020 2021
1 2 3 4 5 6
2 Liabilities to Others            
2.1 Aggregate Deposits 15574660 57609 679793 461147 1524428 1327374
2.1a Growth (Per cent)   0.4 5.0 3.1 12.0 9.3
2.1.1 Demand 1753571 -37425 -104106 -107621 200688 240674
2.1.2 Time 13821088 95034 783899 568769 1323741 1086700
2.2 Borrowings 243400 5319 -50882 -625 -75652 -15157
2.3 Other Demand and Time Liabilities 616597 60398 -55224 -40010 -76697 68146
7 Bank Credit 10912042 14441 -143931 -37467 513272 685112
7.1a Growth (Per cent)   0.1 –1.4 –0.3 5.3 6.7
7a.1 Food Credit 69738 938 12090 8484 -882 5884
7a.2 Non-food credit 10842304 13503 -156021 -45951 514154 679228

6. Money Stock: Components and Sources
(₹ Crore)
Item Outstanding as on Variation over
2021 Fortnight Financial Year so far Year-on-Year
2020-21 2021-22 2020 2021
Mar. 31 Sep. 10 Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 18844578 19399596 71088 0.4 938401 5.6 555019 2.9 2089959 13.4 1661232 9.4
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 2751828 2843296 12376 0.4 250494 10.7 91468 3.3 492082 23.3 243054 9.3
1.2 Demand Deposits with Banks 1995120 1888130 -37949 -2.0 -103074 -5.9 -106990 –5.4 206233 14.4 253512 15.5
1.3 Time Deposits with Banks 14050278 14621448 96095 0.7 787425 6.2 571170 4.1 1380144 11.4 1160008 8.6
1.4 ‘Other’ Deposits with Reserve Bank 47351 46722 566 1.2 3556 9.2 -629 –1.3 11500 37.6 4659 11.1
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 5850374 6246310 169968 2.8 657473 13.3 395936 6.8 848473 17.8 628475 11.2
2.1.1 Reserve Bank 1099686 1251825 60593   -15193   152139   15835   274826  
2.1.2 Other Banks 4750689 4994485 109375 2.2 672666 17.0 243797 5.1 832638 21.9 353649 7.6
2.2 Bank Credit to Commercial Sector 11668466 11621791 13310 0.1 -149126 -1.4 -46675 –0.4 563532 5.5 732273 6.7
2.2.1 Reserve Bank 8709 7000 -1616   678   -1709   6207   -6844  
2.2.2 Other Banks 11659757 11614790 14926 0.1 -149804 -1.4 -44967 –0.4 557325 5.4 739116 6.8

8. Liquidity Operations by RBI
(₹ Crore)
Date Liquidity Adjustment Facility MSF* Standing Liquidity Facili ties Market Stabili sation Scheme OMO (Outright) Long Term Repo Oper ations & Targeted Long Term Repo Oper ations# Special Long-
Term Repo
Oper ations for
Small Finance
Banks		 Special
Reverse
Repo£		 Net Injection (+)/
Absorption (-)
(1+3+5+ 6+9+
10+11+12-2- 4-7 -8- 13)
Repo Reverse Repo* Variable Rate Repo Variable Rate Reverse Repo Sale Pur chase
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Sep. 13, 2021 – 540722 – – 13 – – – – – 200 – – -540509
Sep. 14, 2021 – 497954 – 100019 65 – – – – – – – – -597908
Sep. 15, 2021 – 451181 – – 527 – – – – – – 150 – -450504
Sep. 16, 2021 – 375743 – – 4 – – 5 5 – – – – -375739
Sep. 17, 2021 – 319912 – – 168 – – – – – – – – -319744
Sep. 18, 2021 – 45044 – – 1755 – – – – – – – – -43289
Sep. 19, 2021 – 2782 – – 16 – – – – – – – – -2766
* Includes additional Reverse Repo and additional MSF operations (for the period December 16, 2019 to February 13, 2020).
# Includes Targeted Long Term Repo Operations (TLTRO) and Targeted Long Term Repo Operations 2.0 (TLTRO 2.0) and On Tap Targeted Long Term Repo Operations. Negative (-) sign indicates repayments done by Banks.
& Negative (-) sign indicates repayments done by Banks.
£ As per Press Release No. 2021-2022/177 dated May 07, 2021. From June 18, 2021, the data also includes the amount absorbed as per the Press Release No. 2021-2022/323 dated June 04, 2021.

The above information can be accessed on Internet at https://wss.rbi.org.in/

The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762).

Time series data are available at https://dbie.rbi.org.in

Ajit Prasad
Director   

Press Release: 2021-2022/925

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LIC Jeevan Anand: Popular Choice For Both Protection And Savings

Personal Finance

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Insurance

oi-Kuntala Sarkar

|

LIC Jeevan Anand is a non-linked policy that will offer you both financial protection and savings for the future. The reason behind the popularity of this particular plan is the policy will provide ‘financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his or her survival.’ The minimum age of entry is 18 years completed and the maximum age of entry is 50 years under this plan. The minimum policy term is 15 years, while the maximum policy term is 35 years. The maximum age of maturity of the LIC Jeevan Anand policy is 75 years.

LIC Jeevan Anand: Popular Choice For Both Protection And Savings

Basic policy benefits of LIC Jeevan Anand

At the time of policy maturity, provided all the premiums have been paid, LIC will pay the Sum Assured on Maturity along with vested Simple Reversionary Bonuses. The sum assured on maturity under this policy will be an equal amount to the basic sum assured.

Death benefits are the attractive and significant benefits of the LIC Jeevan Anand policy, and many senior Indians are signing up for this plan. Death benefit which is the sum of sum assured on death and vested Simple Reversionary Bonuses will be paid by LIC, provided all due premiums have been paid by the investor. According to this policy, the sum assured on death will be 125% of the basic sum assured or 10 times the annualized premium. However, the death benefit of the policyholder will not be any less than 105% of all the premiums paid till the date of death. In case the policyholder dies at any time after the policy term, the basic sum assured and vested Simple Reversionary Bonuses will be paid by LIC in a lump sum on survival to the end of the policy term. The policyholder should certainly be cleared with all due premiums. In both of the cases Final (Additional) Bonus will also be paid, if taken any.

Calculation of sum assured and benefits

The minimum basic sum assured under this endowment policy is Rs. 1 lakh with no maximum limit, but that will depend on the policyholder’s income. The below calculation has been done considering the policyholder’s age at 50 years and the policy term at 15 years. Premiums can be paid yearly, half-yearly, quarterly and monthly in this policy.

Basic Sum Assured (INR) Death Sum Assured 1st year premium (4.5% tax) Premium from 2nd year (2.25% tax) Total approximate return at the time of maturity Life time risk cover
200000 250000 19906 19478 318000 200000
500000 625000 49244 48183 795000 500000
1000000 1250000 97965 95855 1590000 1000000

The calculation is done by Goodreturns.in through the ALL IN ONE CALC mobile app.

Additional policy benefits

Along with the above-mentioned benefits, LIC will also offer some optional benefits with the plan, like Accidental Death and Disability Benefit Rider. The policyholder can avail of it by paying an additional premium during the policy term. If the policyholder dies accidentally during his/her policy term running, the Accident Benefit Sum Assured will be paid by LIC as lumpsum along with the death benefit under the basic plan. Otherwise, if the policyholder becomes disabled due to an accident (within 180 days from the date of accident), LIC will pay him/her an amount equal to the Accident Benefit Sum Assured in equal monthly installments for 10 years. Along with this, the future premiums will also be waived due to the disability. Also under the Critical Illness Benefit Rider, specified 15 critical illnesses are covered that a policyholder can avail, but the ‘benefit rider should not exceed 100% of premium under the base plan and the premiums under all other life insurance riders put together should not exceed 30% of premiums under the base plan’.

You can also take a loan under the policy provided at least two full years’ premiums have been paid. Premium paid under this plan is eligible for tax rebate under section 80c and maturity under this plan is free under section 10(10D).

Story first published: Friday, September 24, 2021, 18:30 [IST]



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Reserve Bank of India – Press Releases

Press Releases

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April 14, 2015




Dear All




Welcome to the refurbished site of the Reserve Bank of India.





The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.




With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.




The site can be accessed through most browsers and devices; it also meets accessibility standards.



Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.



Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.



Thank you for your continued support.




Department of Communication

Reserve Bank of India


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Indiabulls Housing Finance repaid ₹7,075.84 crore of NCDs to investors in September

Banking & Finance

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Indiabulls Housing Finance (IBH) has repaid ₹7,075.84 crore of Non-Convertible Debentures (NCDs) to its investors in September this year.

“The repayments comprised of ₹6,575.84 crore of public issue of NCDs done by IBH and ICCL in September 2016 and September 2018 respectively and ₹500 crore of NCDs issued by IBH in September 2011,” it said in a statement on Friday.

The public NCDs were repaid ahead of their scheduled repayment dates, it further said.

“IBH has a fully matched ALM with significant positive cash at the end of each period,” it said, adding that from time to time, it utilises its liquidity buffers to repay its liabilities ahead of schedule to give comfort to its stakeholders, especially lenders and rating agencies.

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Reserve Bank of India – Press Releases

Press Releases

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    5.63% GS 2026 GOI FRB 2034 6.67% GS 2035 6.67% GS 2050
I. Notified Amount ₹11,000 cr ₹3,000 cr ₹10,000 cr ₹7,000 cr
II. Cut off Price / Implicit Yield at cut-off 99.93/5.6469% 99.83/4.4673% 99.95/6.6757% 96.79/6.9264%
III. Amount accepted in the auction ₹11,000 cr ₹3,000 cr ₹10,000 cr ₹7,000 cr
IV. Devolvement on Primary Dealers Nil Nil Nil Nil

Ajit Prasad
Director   

Press Release: 2021-2022/924

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RBI ex-Guv Subbarao explains why RBI is anxious about cryptocurrency, BFSI News, ET BFSI

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The Reserve Bank of India (RBI) has stated multiple times that it has “serious” and “major” concerns about cryptocurrencies without ever explaining what those concerns could be. The central bank’s aversion to virtual currencies is seen as one of the primary motivations behind the government’s bill to ban all private cryptocurrencies.

The crypto industry believes the central bank is looking at cryptocurrencies through a narrow lens and is failing to appreciate the various use cases for such virtual currencies. The industry’s argument is that cryptocurrencies are a digital asset, and not a threat to the monetary sovereignty of the rupee.

While concerns that cryptocurrencies can facilitate money laundering and terror financing are being expressed globally, RBI, on its part, has shied away from explaining its key concerns in detail, leaving the crypto industry scratching its head.

In an interview with ETMarkets.com, former RBI Governor Dr D Subbarao said RBI’s concerns over cryptocurrencies like Bitcoin are three-fold.

Monetary Stability
RBI is the sole manager of currency in the economy and is responsible for the upkeep of the monetary system. Subbarao believes if virtual currencies gained traction, then it could threaten the monetary stability, as “it is quite possible that domestic price formation could be set in that virtual currency.”

Financial Stability
For Subbarao, the threat to the financial stability of the Indian economy from cryptocurrencies like Bitcoin is simple. “If regulated institutions, banks for example, are exposed to virtual currencies and if that currency is very volatile, then there could be financial instability,” Subbarao said.

The former finance secretary believes the threat to financial stability is particularly large from virtual currencies that do not have an intrinsic value and are backed by just algorithms, like Bitcoin and Ethereum.

Capital Outflow
Interestingly, Subbarao sees virtual currencies such as Bitcoin as a threat to the stability of the external sector of India. “Cryptocurrencies could become a conduit for capital flight, especially in a country like India where there is still no full convertibility of capital,” the former governor said.

In that light, Subbarao sees the efforts of central banks to create their own central bank digital currencies (CBDC) as a defensive mechanism. A central bank digital currency is a virtual version of the sovereign currency of the country and is issued by the central bank. This is different from private cryptocurrencies like Bitcoin, which is issued by private citizens.

Subbarao, who helmed the central bank during Global Financial Crisis as well as the infamous ‘taper tantrum’ period of 2013-14, is of the view that Facebook’s plans to launch a stablecoin back in 2016 (Libra) was the turning from when central banks saw cryptocurrencies as an assault to their sovereignty.

The former governor, who currently resides in Singapore, believes RBI’s primary motivation to launch a central bank digital currency is to not be left behind. “Main motivation is to ensure that it is not left behind in a world where CBDCs might become very ubiquitous,” Subbarao said.

CBDCs could also help the central bank reduce the high costs that it bears in printing and maintaining currency in circulation. However, in an economy where payment systems have already become very penetrative and virtual wallets are growing every minute, Subbarao sees little incentive for individuals to move away from private cryptocurrencies.



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China declares all cryptocurrency transactions illegal, BFSI News, ET BFSI

Personal Finance

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China‘s central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money. Chinese banks were banned from handling cryptocurrencies in 2013, but the government issued a reminder this year. That reflected official concern cryptocurrency mining and trading might still be going on or the state-run financial system might be indirectly exposed to risks.

Friday’s notice complained Bitcoin, Ethereum and other digital currencies disrupt the financial system and are used in money-laundering and other crimes.

“Virtual currency derivative transactions are all illegal financial activities and are strictly prohibited,” the People’s Bank of China said on its website.

Promoters of cryptocurrencies say they allow anonymity and flexibility, but Chinese regulators worry they might weaken the ruling Communist Party’s control over the financial system and say they might help to conceal criminal activity.

The People’s Bank of China is developing an electronic version of the country’s yuan for cashless transactions that can be tracked and controlled by Beijing.

Click here to read all stories on cryptocurrency



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Bitcoin slips after China central bank vows to crack down on crypto trading, BFSI News, ET BFSI

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Bitcoin fell nearly 5 per cent on Friday after China’s central bank said it would crack down on cryptocurrency trading, banning overseas exchanges from providing services to mainland investors.

The largest cryptocurrency was last down 4.6 per cent at $42,874, with smaller coins that typically trade in tandem with bitcoin also tumbling. Ether fell over 8 per cent while XRP slipped 7 per cent.

The People’s Bank of China also said it will bar financial institutions, payment companies and internet firms from facilitating cryptocurrency trading, and will strengthen monitoring of risks from such activities.

“Crypto markets are in an extremely frail state overall, and these sorts of downswings speak to that; there’s a degree of panic in the air,” said Joseph Edwards, head of research at cryptocurrency broker Enigma Securities.

“Crypto continues to exist in a grey area of legality across the board in China.”

Shares in cryptocurrency and blockchain-related firms also came under pressure with U.S. listed miners Riot Blockchain , Marathon Digital and Bit Digital slipping between 4.1 per cent and 5.1 per cent in premarket trading. China-focused SOS slipped 1.2 per cent while crypto exchange Coinbase Global fell 2.7 per cent.

Earlier this year, Chinese authorities said they would crack down on cryptocurrency mining, sparking a massive sell-off of bitcoin and other coins.

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4 Top Rated Best Performing Mirae Asset Equity Mutual Fund SIPs To Consider In 2021

Personal Finance

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Mirae Asset Emerging Bluechip

Mirae Asset Emerging Bluechip Fund Direct-Growth manages a total of Rs. 20,615 crores in assets (AUM). The 1-year returns on Mirae Asset Emerging Bluechip Fund Direct-Growth are 75.07 percent. It has returned an average of 26.11 percent per year since its inception.

The financial, healthcare, technology, automobile, and energy sectors account for the majority of the fund’s holdings. In comparison to other funds in the category, it has less exposure to the Financial and Healthcare industries.

ICICI Bank Ltd., HDFC Bank Ltd., Axis Bank Ltd., Infosys Ltd., and State Bank of India are the fund’s top five holdings. A five year SIP of Rs 10,000 would result in profit of Rs 5.8 Lakh with current value of investment of Rs 11.8 lakh. The fund is ranked 5-star by Value Research and Morningstar.

Mirae Asset Tax Saver Fund Direct

Mirae Asset Tax Saver Fund Direct

The assets under management (AUM) of Mirae Asset Tax Saver Fund Direct-Growth is $9,401 crores.

The 1-year returns on Mirae Asset Tax Saver Fund Direct-Growth are 71.31 percent. It has returned an average of 23.85% every year since its inception. HDFC Bank Ltd., ICICI Bank Ltd., Infosys Ltd., Axis Bank Ltd., and Tata Consultancy Services Ltd. are the fund’s top five holdings. The majority of the money in the fund is invested in the financial, technology, automotive, healthcare, and energy industries.

The scheme aims to achieve long-term capital appreciation by investing primarily in equities and equity-related securities in a diversified portfolio.

A five year SIP of Rs 10,000 would result in profit of Rs 5.7 Lakh with current value of investment of Rs 11.7 lakh. The fund is ranked 5-star by Value Research and Morningstar.

Mirae Asset Large Cap Fund Direct

Mirae Asset Large Cap Fund Direct

Mirae Asset Large Cap Fund Direct-Growth manages a total of 29.425 crores in assets (AUM).

Mirae Asset Large Cap Fund Direct has a 1-year growth rate of 59.95 percent. It has had an average yearly return of 19.06 percent since its inception. Infosys Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Reliance Industries Ltd., and Axis Bank Ltd. are the fund’s top five holdings. The scheme intends to optimise long-term capital appreciation by investing in equities and equity-related assets to take advantage of investment possibilities arising from India’s economic growth and structural transformations. The NAV of Mirae Asset Large Cap Fund for Sep 23, 2021 is 87.02.

A five year SIP of Rs 10,000 would result in profit of Rs 4.32 Lakh with current value of investment of Rs 10.32 lakh. The fund is ranked 5-star by Value Research and Morningstar.

Mirae Asset Hybrid Equity Fund

Mirae Asset Hybrid Equity Fund

Mirae Asset Hybrid Equity Fund Direct-Growth manages a total of 5,949 crores in assets (AUM). The fund now has a 74.33 percent stock allocation and an 18.84 percent debt exposure.

The 1-year returns on Mirae Asset Hybrid Equity Fund Direct-Growth are 49.05 percent. It has had an average yearly return of 15.75 percent since its inception. GOI, HDFC Bank Ltd., Infosys Ltd., ICICI Bank Ltd., and Tata Consultancy Services Ltd. are the fund’s top five holdings.

From a combined portfolio of equities and equity-related assets, as well as debt and money market instruments, the Scheme intends to create capital appreciation and current income.

A five-year SIP of Rs 10,000 would result in a profit of Rs 3.83 lakh with the current value of investment of Rs 9.83 lakh. The fund is ranked 5-star by Value Research and Morningstar.

4 Best Performing Mirae Asset Equity Mutual Fund SIPs To Consider

4 Best Performing Mirae Asset Equity Mutual Fund SIPs To Consider

Fund 3- year Return Ratings
Mirae Asset Emerging Bluechip 26.68% ValueResearch: 5-Star

Morningstar: 5-Star

Mirae Asset Tax Saver Fund 25.26% ValueResearch: 5-Star

Morningstar: 5-Star

Mirae Asset Hybrid Equity Fund 18.43% ValueResearch: 5-Star

Morningstar: 5-Star

Mirae Asset Large Cap Fund Direct 19.28% ValueResearch: 5-Star

Morningstar: 5-Star

Disclaimer

Disclaimer

The views and investment tips expressed by authors or employees of Greynium Information Technologies, should not be construed as investment advice 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.



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