Reserve Bank of India – Tenders

Tenders

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E-Tender No. RBI/Bengaluru/Estate/168/21-22/ET/227

E-tenders were invited for Empanelment of vendors and award of work for Annual Maintenance Contract (AMC) and Facility Management Service (FMS) of Computer Hardware, Software and Peripherals at Reserve Bank of India, Bengaluru after publishing the NIT in MSTC Portal and on the Bank’s website. As per the schedule, the Pre-Bid Meeting for the captioned tender was held November 10, 2021 at 03.00 PM at Board Room, 4th Floor, Reserve Bank of India, Bengaluru.

The meeting was attended by the following:

From Banks’ side: 1) Shri Shriram Zamre, Assistant Manager

2) Shri Yugandhara Ramesh M, Assistant

From vendor side: 1) Shri. Dhanunjaya Choudary Pathakumari, M/s Aforeserve Services Limited

2) Shri. Satish Gowda, M/s Accel Limited

3) Shri. Syed Rafi, M/s Microsun Infocare Service Limited

The following queries were raised by the participants and clarified:

Sl. No Clause in NIT Query Raised Clarification
1 Pg No. 26, Point 5 of Section 4 Confirm whether MSME bidders are exempted from paying Earnest Money Deposit (EMD). MSEs are exempted from submission of EMD only in cases where the estimated cost of procurement (Goods, Services or Work Contracts) is upto Rs. 10 Lakh (including all taxes, duties etc.). In the extant case, the estimated cost of the tender is more than Rs. 10 lakh and therefore submission of EMD is compulsory.
2 Pg No. 36, Annexure IV Is it mandatory to obtain feedback from existing client on Letter head of client? Seal and signature of the authorised person will work? It is preferable to get the feedback regarding performance of vendor on the Letter Head of Client. It should be ensured that all the details mentioned in the annexure IV are provided with.
3 Pg No. 23, Point No. 16 of Section 3 What are the requirements for minimum wages to be paid to the vendors staff? Please refer to the point 16 of section 3 of Tender Document.

The Vendor is bound to follow all Labour rules and regulations as envisaged in the Payment of Wages Act 1936 and Minimum Wages Act 1948, of Central Government and ensure payment of minimum wages which should be based on total man days and/or working hours, which are revised time to time by the competent authority.

4 Pg No. 22, Point 10 of Section 3 What spare inventory is needed to be maintained? Please refer to the point no. 10 of section 3 of Tender Document. The vendor shall maintain an onsite inventory of spare parts for PC, Laptops, printers, etc. so as to ensure business continuity in the case of any malfunction of the equipment’s. All necessary spares to ensure 99% uptime of each PC and 99% uptime of each peripheral covered under the AMC. If during any quarter, the vendor does not maintain the uptime of the equipment, proportionate maintenance charges will be deducted from the amount to be paid to the vendor in the beginning of the next quarter. The minimum inventory of spares to be maintained at RBI at all times is as follows:

a) CD Rom – 2 No.

b) Keyboards – 5 Nos.

c) USB Mouse – 5 Nos.

d) Wireless Keyboard and Mouse sets – 2 sets.

e) Compatible SMPS – 5 Nos.

f) and any other item to maintain equipment uptime as indicated above.

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Auto debit bounce rates drop in Oct to pre-Covid levels, may fall further in festive season, BFSI News, ET BFSI

Banking & Finance

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Auto-debit payment bounce rates have dropped to near pre-Covid levels in October in tandem with the opening up of the economy as the pandemic retreated.Of the 86.6 million transactions initiated in October, 27 million transactions, or 31.24 per cent, failed, while 59.52 million were successful, according to the NACH data.
In value terms, 24.83 per cent of the transactions declined in October — the lowest since January 2020.

Volume-wise, the bounce rates were at similar levels seen during pre-Covid wave months of January and February of 2020, and by value, 260 basis points (bps) better than January-March 2021 period, which was the best quarter last year in terms of recovery for the economy.

Improvement over September

On a month-on-month basis, bounce rates have declined 50-60 bps by volume/value. Bounce rates were 31.7% and 25.4% by volume and value, respectively, for September. In August, these figures were at 33% and 26.8% by volume and value, respectively, while in July they were 33.2% and 27.4% by volume and value.

Despite the steady improvement, bounce rates continued to remain above the average levels of 2019. The current bounce rates by value are nearly 300 basis points higher than pre-Covid levels. Most banks and non-bank lenders have reported an increase in fresh disbursements and improvement in collections continues to remain their top priority.

Collection efficiencies

Collection efficiency improved in the September quarter, though slippages have been high in the retail and MSME segment the quantum is likely to have moderated sequentially, keeping asset quality in check, according to analysts.

Typically, auto-debit transactions are for recurring payments such as EMIs and insurance premiums although it does not capture intra-bank transactions. With the second wave of the pandemic leading to localised lockdowns and impacting economic activities, bounce rates had started to climb up from April 2021 after easing from December 2020.

In the last two months, as Covid cases have come down in most parts of the country and the economy has opened up again, bounce rates have started coming down again. Many lenders have reported that collection efficiencies have returned to normal and are at the pre-second wave levels.

Asset quality recovery

Non-bank lenders and housing finance companies, which suffered during the first quarter of this fiscal, are likely to report a steady recovery in asset quality and demand for fresh loans along with improved payment collections in the September quarter.

“The first quarter of fiscal 2022 was impacted by the second Covid wave. Relative to 1QFY22, we expect disbursement volumes of 170-230% for most Affordable Housing/Vehicle Financiers. Impact on AUM growth is likely to be higher for short duration products like Vehicle loans as collections held up well in 2QFY22,” Motilal Oswal Securities said in a note.

For vehicle financiers, or MFIs, the collection efficiencies are likely to be in the 90-100% range. After the high levels of restructuring witnessed in 1Q, a relatively lower incremental restructuring is likely in the second quarter.



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Fino Payments Bank shares list with nearly 6 pc discount, BFSI News, ET BFSI

Banking & Finance

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New Delhi, Shares of Fino Payments Bank Ltd made a tepid market debut on Friday, listing with a discount of nearly 6 per cent from its issue price of Rs 577. The stock made its debut at Rs 548, a decline of 5 per cent from the issue price on the BSE. It later dipped 7.15 per cent to Rs 535.70.

At the NSE, it listed at Rs 544.35, lower by 5.65 per cent.

The Rs 1,200.3-crore IPO had a price range of Rs 560-577 per share for the offer.

Fino Payments Bank or FPBL is a scheduled commercial bank serving the emerging Indian market with its digital-based financial services.

The company is a fully-owned subsidiary of Fino Paytech, a pioneer in technology-enabled financial inclusion solutions.

Fino Paytech is backed by investors like Blackstone, ICICI Group, Bharat Petroleum and International Finance Corporation (IFC).



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Reserve Bank of India – Press Releases

Press Releases

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In the underwriting auctions conducted on November 12, 2021 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

(₹ crore)
Nomenclature of the Security Notified Amount Minimum Underwriting Commitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount underwritten ACU Commission Cut-off rate
(paise per ₹100)
4.26% GS 2023 2,000 1,008 992 2,000 0.19
New GS 2026 6,000 3,003 2,997 6,000 0.50
6.67% GS 2035 9,000 4,515 4,485 9,000 0.90
New GS 2051 7,000 3,507 3,493 7,000 0.98
Auction for the sale of securities will be held on November 12, 2021.

Ajit Prasad           
Director (Communications)

Press Release: 2021-2022/1182

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PM launches scheme for retail participation in govt securities

Banking & Finance

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Prime Minister Narendra Modi on Friday launched two customer-centric initiatives of the RBI with a view to provide opportunities to retail investors to participate in the government securities market and contribute towards nation-building.

The two initiatives of RBI — retail direct scheme and integrated ombudsman scheme — will also promote financial inclusion, he said.

The Prime Minister, while launching two innovative, customer-centric initiatives, said these schemes would expand the scope for investment and improve customer grievance redressal mechanism.

The retail direct scheme, he said, would provide access to small investors to earn assured returns by investing in securities and it will also help the government to garner funds for nation-building.

Ombudsman Scheme

On the Reserve Bank-Integrated Ombudsman Scheme (RB-IOS), he said, it is aimed at further improving the grievance redress mechanism for resolving customer complaints against entities regulated by the central bank.

With the launch of the scheme, he said, “One Nation-One Ombudsman” has become a reality. The RBI Retail Direct Scheme is aimed at enhancing access to the government securities market for retail investors. It offers retail investors a new avenue for directly investing in the securities issued by the centre and the state governments.

The investors will be able to easily open and maintain their government securities accounts online with the RBI for free. Leveraging technological advancements, the scheme offers a portal avenue to invest in central government securities, treasury bills, state development loans and sovereign gold bonds.

The scheme places India in a list of select few countries offering such a facility.

This scheme (RB-IOS) will do away with the jurisdictional limitations as well as limited grounds for complaints. RBI will provide a single reference point for the customers to submit documents, track status of complaints filed and provide feedback. The complaints that are not covered under the ombudsman scheme will continued to be attended to by the Customer Education and Protection Cells (CEPCs) which are located in the 30 regional offices of RBI.

With increased awareness, digital penetration and financial inclusion there were steep rise in the number of complaints against various regulated entities. The number of complaints shot up from 1.64 lakh in 2017-18 to 3.30 lakh complaints in 2019-20, as per RBI data.

The RBI in the recent past took several steps to strengthen the customer grievance redressal system of regulated entities including issuance of guidelines for strengthening of Internal Ombudsmen, graded regulatory and supervisory actions, and launch of Complaints Management System (CMS) in 2019.

The RBI after review decided to integrate the three ombudsman schemes into one and also simplified the scheme by covering all complaints involving deficiency in service by centralising the receipt and initial processing of complaints to enhance process efficiency.

.

The schemes are administered through 22 offices of RBI Ombudsman (ORBIOs). Complaints that do not fall within the ambit of the Ombudsman mechanism are handled by the Consumer Education and Protection Cells (CEPCs) functioning at 30 regional offices of RBI.

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Bajaj Allianz Life Insurance Partners IPPB, Dept of Posts To Offer Term And Annuity Products

Personal Finance

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Insurance

oi-Sneha Kulkarni

|

The Department of Posts, India Post Payments Bank (IPPB), and Bajaj Allianz Life Insurance Company (BALIC) today established a strategic agreement to offer term and annuity products to consumers through the Bank’s wide network of 650 offices and over 1,36,000 banking access points.

Bajaj Allianz Life Insurance Partners India Posts To Offer Term, Annuity Product

According to the Ministry of Communications, the partnership will help customers, particularly those from lower socioeconomic groups and those living in unbanked or underserved areas, become financially secure and empowered. It also aligns with IPPB’s goal of providing value-added products and services to its customers.

According to a press release from Bajaj Agreement, the term and annuity products that will be offered as part of this strategic alliance include Bajaj Allianz Life Smart Protect Goal and Bajaj Allianz Life Guaranteed Pension Goal.

Bajaj Allianz Life Smart Protect Goal is a value-added term insurance plan designed to provide immediate financial help to a family in the case of the breadwinner’s unexpected death.

The Bajaj Allianz Life Guaranteed Pension Goal is an annuity plan that provides a guaranteed and fixed monthly income for the rest of the person’s life.

Customers will be able to purchase both of these goods in addition to DoP’s current Product.

Both goods will be offered on the POS platform, which is designed to be simple to sell. The Bajaj Allianz Smart Protect Goal offers a premium return option at maturity.

When the annuitant dies, Bajaj Allianz Guaranteed Pension Goal also provides a legacy of the purchase price. Customers can purchase these items entirely digitally.

Story first published: Friday, November 12, 2021, 12:32 [IST]



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Fino Payments Bank makes a tepid debut

Banking & Finance

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The shares of Fino Payments Bank made a tepid debut on the bourses on Friday, listing at over 5 per cent discount.

It listed at a discount of over 5 per cent at ₹544.35 apiece on the NSE as compared to its issue price.

The shares listed at ₹548 on the BSE against its issue price of ₹577.

The shares slipped further to record a low of ₹527.00 on the BSE, post listing. At 10:31 am, it was trading at a 7.51 per cent discount at ₹533.65.

On the NSE, it was trading at ₹534.80.

“Fino payment debuted in secondary market on a tepid note as per our expectations and I think it may continue to remain under pressure post listing because of valuations concerns, competition, and regulatory challenges,” said Parth Nyati, Founder, Tradingo.

“However Fino Payment is a fast-growing fintech company and it is one of its kind company to list on the stock exchanges where its unique DTP network and new edge business model provide it an edge,” added Nyati.

Also read:Fino Payments Bank IPO to open on October 29

The ₹1,200 initial public offering of Fino Payments Bank comprised a fresh issue of ₹300 crore and an offer for sale (OFS) of 1.56 crore equity shares by promoter Fino Paytech.

The IPO was subscribed 2.03 times on the third and the final day with strong interest from retail investors.

According to data available on the BSE, bids were received for 2.32 crore shares as against 1.14 crore shares offered in the IPO.

The portion set aside for non-institutional investors (widely known as HNIs) saw a subscription of 0.21 times, and that of QIB witnessed a subscription of 1.65 times. The portion for retail investors was oversubscribed 5.92 times and the employee quota by 0.93 times.

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Mobikwik launches MobiKwik RuPay Card

Banking & Finance

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Mobikwik has collaborated with National Payments Corporation of India (NPCI) and Axis Bank to launch MobiKwik RuPay Card.

“The card will be free of charge to customers and purely digital keeping in line with the growing demand for digital payments across online and brick and mortar stores,” it said in a statement on Friday, adding that customers can now get up to ₹2 lakh of their MobiKwik wallet balance mirrored on the MobiKwik RuPay Prepaid Card.

“The integration of the card with MobiKwik wallet will allow MobiKwik customers to use the card and wallet balance at over 41 million merchants across 190 countries, in addition to the MobiKwik merchant network,” it further said.

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Reserve Bank of India – Tenders

Tenders

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E-Tender No. RBI/Ranchi/Estate/172/21-22/ET/233

E-tenders were invited for RENOVATION OF CIVIL & ELECTRICAL WORKS IN RBI RANCHI OFFICE LOCATED AT ZILA PARISHAD BHAVAN after publishing the NIT in MSTC Portal and on the Bank’s website. As per the schedule, pre-bid meeting was scheduled to be conducted at 11.00 am on November 08, 2021 at Estate Department, Reserve Bank of India, Ranchi.

No bidder came forward for the meeting. Hence, the meeting was not conducted.

The terms and conditions and specifications of the tender document shall continue to remain same.

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Reserve Bank of India – Press Releases

Press Releases

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(Amount in ₹ crore, Rate in Per cent)
  Volume
(One Leg)		 Weighted
Average Rate 		Range
A. Overnight Segment (I+II+III+IV) 538,079.90 3.22 0.01-5.20
     I. Call Money 6,984.51 3.19 2.00-3.50
     II. Triparty Repo 425,218.20 3.21 3.01-3.30
     III. Market Repo 105,827.19 3.27 0.01-3.40
     IV. Repo in Corporate Bond 50.00 5.20 5.20-5.20
B. Term Segment      
     I. Notice Money** 727.90 3.26 2.75-3.40
     II. Term Money@@ 70.00 – 3.20-3.50
     III. Triparty Repo 100.00 3.25 3.25-3.25
     IV. Market Repo 200.00 2.80 2.80-2.80
     V. Repo in Corporate Bond 65.00 5.74 5.35-6.20
  Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate
C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)
I. Today’s Operations
1. Fixed Rate          
     (i) Repo          
    (ii) Reverse Repo Thu, 11/11/2021 1 Fri, 12/11/2021 246,428.00 3.35
    (iii) Special Reverse Repo~          
    (iv) Special Reverse Repoψ          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Thu, 11/11/2021 1 Fri, 12/11/2021 12.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£          
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -246,416.00  
II. Outstanding Operations
1. Fixed Rate          
    (i) Repo          
    (ii) Reverse Repo          
    (iii) Special Reverse Repo~ Wed, 03/11/2021 15 Thu, 18/11/2021 1,158.00 3.75
    (iv) Special Reverse Repoψ Wed, 03/11/2021 15 Thu, 18/11/2021 291.00 3.75
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Wed, 03/11/2021 15 Thu, 18/11/2021 434,492.00 3.99
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo Tue, 09/11/2021 7 Tue, 16/11/2021 200,015.00 3.95
  Tue, 02/11/2021 28 Tue, 30/11/2021 50,007.00 3.97
3. MSF          
4. Long-Term Repo Operations# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15
  Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15
  Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15
  Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15
5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40
  Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40
  Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40
  Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40
6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40
7. On Tap Targeted Long Term Repo Operations€ Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00
  Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00
  Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00
  Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00
  Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00
  Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00
8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00
Tue, 15/06/2021 1095 Fri, 14/06/2024 490.00 4.00
Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00
Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00
Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00
D. Standing Liquidity Facility (SLF) Availed from RBI$       21,695.80  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -578,625.2  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -825,041.2  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 11/11/2021 612,153.06  
     (ii) Average daily cash reserve requirement for the fortnight ending 19/11/2021 634,320.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 11/11/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 22/10/2021 1,179,109.00  
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
– Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.
# As per the Press Release No. 2020-2021/287 dated September 04, 2020.
^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.
€ As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
£  As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.
ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021.
Ajit Prasad            
Director (Communications)
Press Release: 2021-2022/1180

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