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5/24/2018
8/24/2016
Sharing Financial Results of Public Sector Banks (For Quarter 1 of 2016 - 17) 30.06.2016 (as received)
NET PROFIT
1) State Bank of India - Rs. 2521 Crores
2) Bank of Baroda - Rs. 424 Crores
3) Indian Bank - Rs. 307 Crores
4) Punjab National Bank - Rs. 306 Crores
5) IDBI Bank - Rs. 241 Crores
6) Canara Bank - Rs. 229 Crores
7) Union Bank of India - Rs. 166 Crores
8) Vijaya Bank - Rs. 162 Crores
9) Oriental Bank of Commerce - Rs. 101 Crores
10) Syndicate Bank - Rs. 79 Crores
11) Punjab and Sind Bank - Rs. 53 Crores
12) United Bank of India - Rs. 38 Crores
13) Corporation Bank - Rs. 36 Crores
14) Andhra Bank - Rs. 31 Crores
15) State Bank of Hyderabad - Rs. 28 Crores
NET LOSS
1) State Bank of Bikaner and Jaipur - Loss of Rs. 272 Crores
2) Dena Bank - Loss of 279 Crores
3) Bank of Maharashtra - Loss of 397 Crores
4) UCO Bank - Loss of Rs. 441 Crores
5) State Bank of Mysore - Loss of Rs. 472 Crores
6) Allahabad Bank - Loss of Rs. 565 Crores
7) Central Bank of India - Loss of Rs. 600 Crores
8) State Bank of Patiala - Loss of Rs. 610 Crores
9) State Bank of Travancore - Loss of 710 Crores
10) Bank of India - Loss of Rs. 741 Crores
11) Indian Overseas Bank - Loss of Rs. 1450 Crores
1) State Bank of India - Rs. 2521 Crores
2) Bank of Baroda - Rs. 424 Crores
3) Indian Bank - Rs. 307 Crores
4) Punjab National Bank - Rs. 306 Crores
5) IDBI Bank - Rs. 241 Crores
6) Canara Bank - Rs. 229 Crores
7) Union Bank of India - Rs. 166 Crores
8) Vijaya Bank - Rs. 162 Crores
9) Oriental Bank of Commerce - Rs. 101 Crores
10) Syndicate Bank - Rs. 79 Crores
11) Punjab and Sind Bank - Rs. 53 Crores
12) United Bank of India - Rs. 38 Crores
13) Corporation Bank - Rs. 36 Crores
14) Andhra Bank - Rs. 31 Crores
15) State Bank of Hyderabad - Rs. 28 Crores
NET LOSS
1) State Bank of Bikaner and Jaipur - Loss of Rs. 272 Crores
2) Dena Bank - Loss of 279 Crores
3) Bank of Maharashtra - Loss of 397 Crores
4) UCO Bank - Loss of Rs. 441 Crores
5) State Bank of Mysore - Loss of Rs. 472 Crores
6) Allahabad Bank - Loss of Rs. 565 Crores
7) Central Bank of India - Loss of Rs. 600 Crores
8) State Bank of Patiala - Loss of Rs. 610 Crores
9) State Bank of Travancore - Loss of 710 Crores
10) Bank of India - Loss of Rs. 741 Crores
11) Indian Overseas Bank - Loss of Rs. 1450 Crores
Banking & Financial News as per Today's Newspapers 24.08.2016
Calling for time-bound implementation of the Insolvency and Banckruptcy Code (IBC) 2016, Finance Minister Arun Jaitley on Tuesday directed senior officials of his ministry to take "immediate action" on the key requirements of the legislation. "Jaitley directed the senior officers of the Ministry of Finance and Corporate Affairs to take suitable necessary action for implementation of IBC 2016 in a time bound manner," said a Finance Ministry statement.
-The Statesman
The Government is examining SIT’s recommendation of banning cash transactions of over Rs 3 lakh in a bid to clamp down on black money in the economy, CBDT Chairperson Rani Singh Nair said today.
-Business Line
Bandhan Bank has decided to open about 300 branches to add to its current tally of 700 in the next one year and a majority of these will be in urban pockets in step with its plan to target the affluent society. The new branches are planned aesthetically with special bay and e-lobby to cater to the riches -Bandhan Bank MD Chandra Shekhar Ghosh told.
-Economic Times
Axis Bank has come up with its augmented reality feature within its mobile app which lists all the dining destinations, property lists, shopping centres, bank ATMs, branches and many other things not only as a location on GPS but also in real life pictures along with distance and even directions.
-Economic Times
The Rs 1,200-crore IPO of RBL Bank -first by a private sector lender in a decade-garnered nearly 70 times subscription. The IPO generated demand worth over Rs 59,000 crore, one of the highest in recent times.
-Business Standard
Setting an ambitious target of having five million customers by 2020 and to become the No 3 player in the extremely competitive industry, mid-sized lender Yes Bank today made a foray into the credit card market. "Credit card is central to our customer acquisition plans. We don't believe there is anything like an internal customer or an external customer," the bank's senior group president for retail and business banking Pralay Mondal said.
-Economic Times
Ujjivan Financial Services which recently received an approval from the RBI to set up a ‘Small Finance’ bank , has adopted CRMNEXT’s integrated 'Assisted Bank-in-a-Box Edition'. CRMNEXT's Assisted Bank-in-a-Box solution is a first of its kind, which is designed to provide out-of-box solutions for all customer management needs including inquiry to sales management, eKYC, biometric integration, ready adaptors for CIBIL, Aadhar, PAN verifications etc.
-Economic Times
The National Stock Exchange has appointed Citibank, JM Financial, Kotak Mahindra and Morgan Stanley as lead investment banks to manage its much-awaited IPO.
-Business Standard
The Enforcement Directorate today registered a fresh case against Vijay Mallya and Kingfisher Airlines Ltd to investigate whether they laundered money taken as loans, two ED officials familiar with the development said on condition of anonymity. The fresh probe is in addition to theRs.900 crore IDBI Bank loan default case that in already under investigation. In the new case, the agency will probe a loan default of Rs.6,900 crore.
-Live Mint
New World Wealth ranked the different countries according to the total amount of wealth, including property, cash, equities and business interests, held by all individuals as of June 2016. Accumulating $48.9 trillion in wealth, the US topped the overall list, followed by China, Japan, United Kingdom and Germany in the top five. Rounding up the top ten are France, India, Canada, Australia and Italy.
-Gulf News Com
The Labour Ministry is planning to push a Bill that will enable workers to have their representative in board of directors of companies. The Participation of Workers in Management Bill, 1990, seeks meaningful participation of workers in management at shop floor, establishment and board levels in firms. 'We are considering this Bill. The deliberations are going on... It seeks to increase participation of workers in management,' labour minister Bandaru Dattatreya told PTI.
-Malayala Manorama
-The Statesman
The Government is examining SIT’s recommendation of banning cash transactions of over Rs 3 lakh in a bid to clamp down on black money in the economy, CBDT Chairperson Rani Singh Nair said today.
-Business Line
Bandhan Bank has decided to open about 300 branches to add to its current tally of 700 in the next one year and a majority of these will be in urban pockets in step with its plan to target the affluent society. The new branches are planned aesthetically with special bay and e-lobby to cater to the riches -Bandhan Bank MD Chandra Shekhar Ghosh told.
-Economic Times
Axis Bank has come up with its augmented reality feature within its mobile app which lists all the dining destinations, property lists, shopping centres, bank ATMs, branches and many other things not only as a location on GPS but also in real life pictures along with distance and even directions.
-Economic Times
The Rs 1,200-crore IPO of RBL Bank -first by a private sector lender in a decade-garnered nearly 70 times subscription. The IPO generated demand worth over Rs 59,000 crore, one of the highest in recent times.
-Business Standard
Setting an ambitious target of having five million customers by 2020 and to become the No 3 player in the extremely competitive industry, mid-sized lender Yes Bank today made a foray into the credit card market. "Credit card is central to our customer acquisition plans. We don't believe there is anything like an internal customer or an external customer," the bank's senior group president for retail and business banking Pralay Mondal said.
-Economic Times
Ujjivan Financial Services which recently received an approval from the RBI to set up a ‘Small Finance’ bank , has adopted CRMNEXT’s integrated 'Assisted Bank-in-a-Box Edition'. CRMNEXT's Assisted Bank-in-a-Box solution is a first of its kind, which is designed to provide out-of-box solutions for all customer management needs including inquiry to sales management, eKYC, biometric integration, ready adaptors for CIBIL, Aadhar, PAN verifications etc.
-Economic Times
The National Stock Exchange has appointed Citibank, JM Financial, Kotak Mahindra and Morgan Stanley as lead investment banks to manage its much-awaited IPO.
-Business Standard
The Enforcement Directorate today registered a fresh case against Vijay Mallya and Kingfisher Airlines Ltd to investigate whether they laundered money taken as loans, two ED officials familiar with the development said on condition of anonymity. The fresh probe is in addition to theRs.900 crore IDBI Bank loan default case that in already under investigation. In the new case, the agency will probe a loan default of Rs.6,900 crore.
-Live Mint
New World Wealth ranked the different countries according to the total amount of wealth, including property, cash, equities and business interests, held by all individuals as of June 2016. Accumulating $48.9 trillion in wealth, the US topped the overall list, followed by China, Japan, United Kingdom and Germany in the top five. Rounding up the top ten are France, India, Canada, Australia and Italy.
-Gulf News Com
The Labour Ministry is planning to push a Bill that will enable workers to have their representative in board of directors of companies. The Participation of Workers in Management Bill, 1990, seeks meaningful participation of workers in management at shop floor, establishment and board levels in firms. 'We are considering this Bill. The deliberations are going on... It seeks to increase participation of workers in management,' labour minister Bandaru Dattatreya told PTI.
-Malayala Manorama
Banking & Financial News as per Today's Newspapers 23.08.2016
Finance Minister Arun Jaitley will hold a meeting with the heads of PSBs on Sept 16 to find ways to deal with the situation. Besides, he will also discuss credit growth and bad loan situation, they said, adding that the various recovery measures by banks and the legislative steps taken by the Government to expedite recovery are also part of the agenda.
-The New Indian Express
Calling Urjit Patel a "competent economist", Finance Minister Arun Jaitley expressed hope that as the next RBI Governor he will be able to contain inflation and contribute in country's economic growth.
-Business Standard
A move is afoot to change the ranking of the RBI Governor to the level of principal secretary in the Central Government’s protocol order, after Urjit Patel assumes office. A senior Govt official said the finance ministry had prepared such a plan. The Governor currently has the rank of a Union Minister of State, a position no other regulator holds. Accordingly, the four Deputy Governors, who now hold the rank of secretary, will also slip down the hierarchy by a notch.
-Business Standard
The selection panel to appoint 3 Govt nominees for the monetary policy committee (MPC) held its first meeting recently to consider the candidates, a top Finance Ministry official said today. "The committee had its first meeting recently. Let's see if they can suggest a name before October 4 policy," the official said. Once formed, the 6-member MPC will decide on interest rates based on the inflation target under the monetary policy framework agreement.
-Deccan Chronicle
Canara HSBC Oriental Bank of Commerce Life Insurance has introduced a new unit-linked insurance product Secure Bhavishya to protect and meet an individual’s future financial needs. It will help customers build-up a retirement fund which can be used to provide a steady post retirement income, a company statement said.
-Business Line
Bank of Baroda MD and CEO P S Jayakumar today said the onus of recovery is on the Government and not RBI. He said the Government needs to pay vendors on time for services, ensure the projects perform and improve the legal system by upgrading enforcement processes.
-The Economic Times
Lenders of the Indian financial systems require looser liquidity, more efficiency and pools of profit to resolve NPA issue, said Arundhati Bhattacharya, Chair-Managing Director of SBI.
-Money Control Com
Former CCI head Ashok Chawla will take over as Non-Executive Part-time Chairman of Yes Bank from October as the lender has received approval from the Reserve Bank for this appointment.
-NDTV Profit
SBI chairman Arundhati Bhattacharya said that retail loans is still less than 10% of the country's GDP, which is far lower than other developing countries, hence there is more room to grow.
-Economic Times
RBL Bank's up to 12.13 billion rupees ($182 million) IPO was fully subscribed on the second day of the sale on Monday, stock exchange data showed.
-Reuters
PNB MetLife today announced the launch of its first online ULIP — Mera Wealth Plan — a comprehensive and flexible online plan.
-Business Line
Moody's Investors Service today said continued reforms to enhance business environment and moderate inflation will help India achieve robust growth but cautioned that rising contingent liability risks in the banking sector could affect its credit quality.
-NDTV Profit
The IT services industry is increasingly looking to make performance evaluation more stringent. A recent news report stated that Infosys has sacked 500 employees. The story said that some of these employees could not complete the required 9.15 hours of work every day. In a statement, Infosys said that it has laid off "a few" people on grounds of non-performance and disciplinary issues but denied reports of 500 jobs being cut by the country's second largest software services company.
-Business Standard
Indian shares fell on Monday as state-owned lenders retreated after Urjit Patel was named as the next Central Bank Governor, which was seen as reducing the prospect of rate cuts in the near term and as continuing a push to aggressively clean up bad debt.
-Business Line
-The New Indian Express
Calling Urjit Patel a "competent economist", Finance Minister Arun Jaitley expressed hope that as the next RBI Governor he will be able to contain inflation and contribute in country's economic growth.
-Business Standard
A move is afoot to change the ranking of the RBI Governor to the level of principal secretary in the Central Government’s protocol order, after Urjit Patel assumes office. A senior Govt official said the finance ministry had prepared such a plan. The Governor currently has the rank of a Union Minister of State, a position no other regulator holds. Accordingly, the four Deputy Governors, who now hold the rank of secretary, will also slip down the hierarchy by a notch.
-Business Standard
The selection panel to appoint 3 Govt nominees for the monetary policy committee (MPC) held its first meeting recently to consider the candidates, a top Finance Ministry official said today. "The committee had its first meeting recently. Let's see if they can suggest a name before October 4 policy," the official said. Once formed, the 6-member MPC will decide on interest rates based on the inflation target under the monetary policy framework agreement.
-Deccan Chronicle
Canara HSBC Oriental Bank of Commerce Life Insurance has introduced a new unit-linked insurance product Secure Bhavishya to protect and meet an individual’s future financial needs. It will help customers build-up a retirement fund which can be used to provide a steady post retirement income, a company statement said.
-Business Line
Bank of Baroda MD and CEO P S Jayakumar today said the onus of recovery is on the Government and not RBI. He said the Government needs to pay vendors on time for services, ensure the projects perform and improve the legal system by upgrading enforcement processes.
-The Economic Times
Lenders of the Indian financial systems require looser liquidity, more efficiency and pools of profit to resolve NPA issue, said Arundhati Bhattacharya, Chair-Managing Director of SBI.
-Money Control Com
Former CCI head Ashok Chawla will take over as Non-Executive Part-time Chairman of Yes Bank from October as the lender has received approval from the Reserve Bank for this appointment.
-NDTV Profit
SBI chairman Arundhati Bhattacharya said that retail loans is still less than 10% of the country's GDP, which is far lower than other developing countries, hence there is more room to grow.
-Economic Times
RBL Bank's up to 12.13 billion rupees ($182 million) IPO was fully subscribed on the second day of the sale on Monday, stock exchange data showed.
-Reuters
PNB MetLife today announced the launch of its first online ULIP — Mera Wealth Plan — a comprehensive and flexible online plan.
-Business Line
Moody's Investors Service today said continued reforms to enhance business environment and moderate inflation will help India achieve robust growth but cautioned that rising contingent liability risks in the banking sector could affect its credit quality.
-NDTV Profit
The IT services industry is increasingly looking to make performance evaluation more stringent. A recent news report stated that Infosys has sacked 500 employees. The story said that some of these employees could not complete the required 9.15 hours of work every day. In a statement, Infosys said that it has laid off "a few" people on grounds of non-performance and disciplinary issues but denied reports of 500 jobs being cut by the country's second largest software services company.
-Business Standard
Indian shares fell on Monday as state-owned lenders retreated after Urjit Patel was named as the next Central Bank Governor, which was seen as reducing the prospect of rate cuts in the near term and as continuing a push to aggressively clean up bad debt.
-Business Line
10/11/2014
Bank officers to ‘work-to-rule’ over pay hike row
COIMBATORE, OCT 11:
The All India Bank Officers' Confederation (AIBOC) has decided to stick to office hours and not attend office on Sundays/ holidays and extended office hours with effect from Monday.
The AIBOC Executive Committee has also authorised the leadership to decide about a strike for minimum of two days along with other constituents of UFBU (United Forum of Bank Unions) in the first week of November to press their demand for early settlement of wage revision.
Sharing details of AIBOC's Executive Committee discussions at Delhi, District President of AIBOC, Coimbatore J Vanangamudi told Business Line that the committee had, among others, discussed wage revision for officers, working conditions and other issues including stringent action against bank loan defaulters.
Voicing criticism about the unrelenting stand of the IBA, he said "we have created a record of sorts in financial inclusion, implemented various policies and programmes of the government, but the IBA is adamant even towards our genuine salary revision demand. We have therefore decided to withdraw extra co-operation by strictly observing office hours, not attend office on Sundays and holidays. We are also planning a massive rally at Jantar Mantar on October 13, country-wide protest demonstrations with UFBU constituents on October 17 and one-day dharna between Oct 18 and Oct 31 at all State capitals".
(This article was published on October 11, 2014)
http://www.thehindubusinessline.com/news/states/bank-officers-to-worktorule-over-pay-hike-row/article6491957.ece
10/05/2014
SBI may offer flexible hours, work place for women staff
The bank will target youngsters with digital banking drive
MUMBAI, SEPTEMBER 29:
State Bank of India’s women employees, engaged as remote experts to interact with customers for digital banking, may get to enjoy a bit more flexibility when it comes to work place and work hours.
With the bank rolling out digital banking branches in High Streets and shopping malls, work place and work hours flexibility is within the realm of possibility, feels Chairman Arundhati Bhattacharya.
India’s largest bank is toying with this idea in the backdrop of its introduction of a two-year sabbatical leave for women employees during their entire career.
SBI’s digital banking branch allows instant account opening with a personalised debit card.
Further, the branch also offers Remote Expert facility, whereby customers can interact with the bank’s experts via high-definition video for advice on their financial needs — loans, life insurance, general insurance, demat account, securities, etc.
Battacharaya said: “As we go ahead with this kind of remote experts in digital banking, we are trying to see whether there is a way in which we can make the work place and work hours a little more flexible. But these are things that we are still working on.
“Now, if you (an employee) are having conversation with customers from a place other than the branch, the bank needs to have the right kind of recording facility and the right way of monitoring. This is not easy. So, we will see. ”
The first woman chief of SBI said her bank has opened seven digital banking branches across Delhi, Mumbai, Bangalore and Kolkata in the last few months.
New brand
For its digital banking drive, SBI is creating the “sbiINTOUCH” brand.
“It is called sbiINTOUCH because it is supposed to put us in touch with the younger generation and because it is a touch experience. It is a sub-brand of SBI.
“These branches enable us to get the tech-savvy youngsters in. Youngsters are at home with technology and this sort of enables them to do a lot of things on their days out because these branches are all in High Street and shopping malls,” Bhattacharya said.
(This article was published on September 29, 2014)
http://www.thehindubusinessline.com/industry-and-economy/banking/sbi-may-offer-flexible-hours-work-place-for-women-staff/article6458485.ece
Talks on wage revision break down; bank unions plan national strike
Improvements on many counts, but IBA not to raise wage offer beyond 11%
KOCHI, SEPTEMBER 29:
Following the breakdown of its negotiations with the Indian Banks Association (IBA) for a wage revision agreement, the United Forum of Bank Unions (UFBU) has decided to go on a one-day all-India strike later next month.
Employees will wear black badges on October 10 and country-wide protest demonstrations will be conducted on October 17. A one-day dharna will be held at all State capitals between October 18 and 31. This would be followed by a one-day, country-wide protest strike, date for which is yet to be decided.
The decision to resort to further agitations to press the IBA to agree to a more liberal wage offer was taken by the UFBU leadership after the failure of the September 26 talks. The UBFU has been demanding a 25 per cent revision in pay slip components, but the IBA offered 11 per cent.
Union leaders told BusinessLine that while the IBA negotiators were flexible on certain issues, they were adamant that the wage increase could not go beyond the already offered 11 per cent in monthly salaries. The unions were ready to scale down their demand, but the banks’ management was totally inflexible, they alleged.
Wage agreement
At the negotiations, the IBA wage negotiation team was led by Central Bank of India Chairman and Managing Director Rajeev Rishi. The talks on a five-year wage agreement in the banking sector have been going on for more than a year.
UFBU leaders said that at the latest round of talks, the demand for 100 per cent reimbursement of hospitalisation expenses of the bank staff and their families was raised. The IBA agreed to the unions’ demand that employees will be covered by the Mediclaim scheme, but they had to submit their claims to the banks and that the reimbursement will be made by the banks with the improved benefits of the new insurance scheme. A final medical reimbursement plan will be worked out based on the consensus.
The IBA is willing to consider the demand for 100 per cent DA on pension for pre-November 2002 retirees. The IBA will also consider a reasonable proposition on updating pension. It will look into the demand for a five-day week if UFBU submitted a new set of proposals. On the issue of regulated working hours for officers, the IBA agreed to study the new proposal submitted by the unions.
The IBA’s suggestion of implementing the CTC (cost-to-company) principle was rejected by the unions. The suggestion of limiting the wage talks up to Scale-III officers instead of up to Scale-VII was also rejected.
(This article was published on September 29, 2014)
http://www.thehindubusinessline.com/industry-and-economy/banking/talks-on-wage-revision-break-down-bank-unions-plan-national-strike/article6458482.ece
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