Reserve Bank of India – Tenders
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Note: The firms have to pay the mandated transaction fee to MSTC payment gateway in favor of MSTC LIMITED |
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This PSU Company Announces Rs. 9.01/ Share Dividend: Check Record Date If You Want To Add It To Your Portfolio
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Record date for the interim dividend pay-out for Fy 2022
For the announced dividend, the company has also decided the record date and fixed it as Wednesday the 15th December 2021. The record date is the date when the company finds out or determines the eligibility of the shareholders who will be entitled to receive this dividend pay-out. On this record date, you or a shareholder must be having shares of this company in his demat account for the dividend payment to be credited against these shares in due time.
Rs. 9.01/share dividend pay-out soon by this company
If you could not still make it out, the company we are talking about is NMDC or NationalNational Mineral Development Corporation. The divestment in this PSU major kicked off in July this year via the OFS or auction route. In the stake sale, the centre looked at selling 7.49 percent stake in the firm.
To know about other companies to pay-out dividend soon read here.
About NMDC and its dividend history
Incorporated in 1958 as a Government of India fully-owned public enterprise, NMDC is under the administrative control of the Ministry of Steel. Since inception, the company is into the exploration of an array of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc. The company is the country’s single largest iron ore producer. Talking about its scrip, the company commands a share price of Rs. 145.95 and has a market capitalisation of Rs. 42,772 crore.
The company has been consistently making dividend pay-outs and considering the last fiscal year’s dividend of 7.76 per share, the dividend yield turns out to be 5.32 percent which is quite impressive.
Disclaimer:
Note we are just putting before readers a stock that has announced a dividend, nonetheless readers should not misread it as a call for investment into the scrip.
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Reserve Bank of India – Press Releases
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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 Press Release: 2021-2022/1306 |
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Reserve Bank of India – Tenders
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The captioned Meeting was held at 11.00 am on December 2, 2021 in the Video Conference Room on the third floor of the Bank’s Main Office Building at Bakery Junction, Thiruvananthapuram. (a) List of Bank’s Officials who attended the meeting
(b) List of Firm’s representative who attended the meeting
2. Shri Thanikkachalem, Assistant Manager invited queries from the prospective bidders regarding the captioned tender. The details of queries raised by the firm and clarifications / comments of the Bank are tabulated below:
3. The meeting concluded at 11:30 am. Officer-in-Charge |
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Reserve Bank of India – Tenders
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(S.M.N Swamy) December 03, 2021 |
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Reserve Bank of India – Press Releases
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Reserve Bank of India announces the auction of Government of India Treasury Bills as per the following details:
The sale will be subject to the terms and conditions specified in the General Notification F.No.4(2)-W&M/2018 dated March 27, 2018 along with the Amendment Notification No.F.4(2)-W&M/2018 dated April 05, 2018, issued by Government of India, as amended from time to time. State Governments, eligible Provident Funds in India, designated Foreign Central Banks and any person or institution specified by the Bank in this regard, can participate on non-competitive basis, the allocation for which will be outside the notified amount. Individuals can also participate on non-competitive basis as retail investors. For retail investors, the allocation will be restricted to a maximum of 5 percent of the notified amount. The auction will be Price based using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India’s Core Banking Solution (E-Kuber) system on Wednesday, December 08, 2021, during the below given timings:
Results will be announced on the day of the auction. Payment by successful bidders to be made on Thursday, December 09, 2021. Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595666, 022-27595415, 022-27523516). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125). Ajit Prasad Press Release: 2021-2022/1305 |
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Reserve Bank of India – Press Releases
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The following State Governments have offered to sell securities by way of auction, for an aggregate amount of ₹8,000 Cr. (Face Value).
| Sr. No. | State/UT | Amount to be raised (₹ Cr) |
Additional Borrowing (Greenshoe) Option (₹ Cr) |
Tenure (Yrs) |
Type of Auction |
| 1 | Assam | 500 | – | 5 | Yield |
| 500 | – | 10 | Yield | ||
| 2 | Bihar | 2000 | – | 9 | Yield |
| 3 | Jammu & Kashmir | 500 | – | 15 | Yield |
| 4 | Karnataka | 1000 | – | 10 | Yield |
| 1000 | – | 11 | Yield | ||
| 5 | Tamil Nadu | 1000 | – | 8 | Yield |
| 6 | Telangana | 1500 | – | 24 | Yield |
| TOTAL | 8000 |
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on December 07, 2021 (Tuesday). The Government Stock up to 10% of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility.
Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on December 07, 2021 (Tuesday). The non-competitive bids should be submitted between 10.30 A.M. and 11.00 A.M. and the competitive bids should be submitted between 10.30 A.M. and 11.30 A.M.
In case of technical difficulties, Core Banking Operations Team (email; Phone no: 022-27595666, 022-27595415, 022-27523516) may be contacted.
For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).
Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends.
The yield percent per annum expected by the bidder should be expressed up to two decimal points. An investor can submit more than one competitive bid at same/different rates of yield or prices in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a bidder should not exceed the notified amount for each State.
The Reserve Bank of India will determine the maximum yield /minimum price at which bids will be accepted. Securities will be issued for a minimum nominal amount of ₹10,000.00 and multiples of ₹10,000.00 thereafter.
The results of the auction will be announced on December 07, 2021 (Tuesday) and payment by successful bidders will be made during banking hours on December 08, 2021 (Wednesday) at Mumbai and at respective Regional Offices of RBI.
The State Government Stocks will bear interest at the rates determined by RBI at the auctions. For the new securities, interest will be paid half yearly on June 08 and December 08 of each year till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and Government Securities Regulations, 2007.
The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility.
Ajit Prasad
Director (Communications)
Press Release: 2021-2022/1304
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Reserve Bank of India – Press Releases
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Ajit Prasad Press Release: 2021-2022/1303 |
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Tata AIA Life Insurance bets on 40% growth over next 3 years
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Tata AIA Life Insurance expects a 30-40 per cent growth in business over the next three years backed by a strong push to protection and pension plans, ramping up of distribution network and with renewed emphasis on branding.
According to Naveen Tahilyani, MD and Chief Executive Officer, Tata AIA Life Insurance, pension as a category is currently a small part of their total portfolio. But the company plans to launch new products starting this month to tap into the potential growth in the segment.
The company will also continue its focus on protection plans, which currently accounts for nearly 25 per cent of its product mix.
“We grew by nearly 30 per cent in H1 and in Q2 of this fiscal. Our growth has been close to 40 per cent. We have had strong numbers in November. We are hopeful of 30-40 per cent growth over the next three years,” Tahilyani told BusinessLine.
In FY21, the total premium income grew by 34 per cent to ₹11,105 crore, compared with ₹8,308 crore in FY-20. The total renewal premium income also witnessed a 37 per cent growth at ₹6,961 crore (₹5,066 crore). Its 13th month persistency remained at 88.28 per cent despite the adverse impact of Covid-19 pandemic while the claim settlement ratio stands at around 98.05 per cent. The company claims to have registered 35 per cent CAGR in the retail protection business over the last two years.
Ramping up distribution
The company is looking to ramp up its distribution network both by opening new branches and entering into partnerships with health tech and fintech companies for ramping up sales.
As on March 2021, the company had around 215 branches. It has already added 100 branches so far this year and plans to add another 100 over the next six months taking the total to around 415 by June 2022.
The company has a strong presence in Maharashtra, Gujarat, West Bengal, Delhi NCR, Punjab and Haryana. It plans to ramp up presence in the southern markets by setting up new branches.
Distribution through agency network accounts for nearly 30 per cent of its total sales, while the remaining 70 per cent comes from non-agency network including bancassurance, broking partners and new age digital companies.
Branding and marketing
Tata AIA Life Insurance has on-boarded Olympic gold medallist Neeraj Chopra as its brand ambassador in a multi-year deal with a focus on enhancing its brand image. The move would help promote health and wellness among policyholders and penetrate deeper into the Tier-II and Tier-III markets.
“So far, we have been reasonably quiet on branding front. Now, we think it is time to invest in branding. The Neeraj Chopra campaign would be initially rolled out on the digital platform,” Tahilyani said.
The company plans to lay emphasis on the omni-channel network with the digital channel serving more as a feeder to the physical network.
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Indian banks behind the curve on payments: Uday Kotak
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Banks have been “short sighted” in the last three years on the payments business which is now monopolised by two or three payment companies, said veteran banker Uday Kotak, and urged them to “wake up”.
“Indian banks are behind the curve. Indian banks have allowed the growth of UPI payments that have been essentially monopolised by two players — Google Pay and PhonePe — which have 85 per cent of the market share,” said Kotak, Managing Director and CEO, Kotak Mahindra Bank on Friday.
Wake-up call
Addressing the InFinity Forum organised by IFSCA and Bloomberg, Kotak added that this is a wake up call for Indian banking.
“Wake up or you will see large parts of traditional financial systems move out,” he said.
Also see: Fintech risk landscape
Noting that bankers had been short-sighted over the last three years, Kotak said their standard response was that there is no money in payments.
He, however, stressed that consumer protection has to be the key priority when fintech companies grow.
Legal boundaries
Consumer tech companies have revenue models which are outside finance — such as advertising and e-commerce — while banks legally can not enter non-financial businesses, Kotak noted.
“So, there are serious issues of how to draw lines and, simultaneously, there are issues on financial stability,” he said.
Keep trust
While underlining that he is not against competition, Kotak said that we need to make sure that competitive service mustn’t lead to systemic and stability challenge.
Also see: Digital payments remain strong, marginal decline in November
“We must ask the question of who runs the risk when raising the deposit — is it the consumer tech company which is facing customers and raising deposits who runs the risk of the underlying asset? As we grow fintech, we must make sure that we do not betray trust,” he added.
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