recruitment
18:49
Application For the Post Of Clerks/Officers Recruitment under Sports Discipline
Application For the Post Of Clerks/Officers Recruitment under Sports Discipline
Showing posts with label indian bank. Show all posts
Showing posts with label indian bank. Show all posts
Monday, 12 February 2018
Sunday, 15 January 2017
Mobile Payment
20:22
India ready for four times jump in digital payments: Nandan Nilekani
India ready for four times jump in digital payments: Nandan Nilekani
Nandan Nilekani, who is a part of the Niti Aayog panel on e-payments that is working with chief ministers to promote the use of digital payments systems across the country has said that India is ready for four times jump in digital payments.
In an interview to a newspaper, Nilekani said that the infrastructure needed to enable more than a billion people to transact digitally is already in place, but unlike the West, where card-based payments are more common, the Indian economy will digitalise through mobile-based payments that are faster and cheaper to roll out.
Now, it is a matter of increasing awareness and keeping transaction charges low, he added.
Source:DDINEWS
Sunday, 3 July 2016
indian bank
18:43
Indian Bank CMD in bank fraud case
Indian Bank CMD in bank fraud case
3 years RI for former Indian Bank CMD in bank fraud case
CHENNAI: Former chairman and managing director of Indian Bank M Gopalakrishnan was sentenced to three years rigorous imprisonment in a bank fraud case.
A Kantha Kumar, Principal Special Judge for CBI Cases, convicted Gopalakrishnan, five officials of Indian Bank and four others including M Varadarajulu of MVR Group for cheating Indian Bank in the sanction of letter of credit facility to the tune of ` 2.5 crore each in favour of Anderson Industries International Ltd and Sathyam Chemicals Pvt Ltd, both sister concerns of MVR Group of companies of M Varadarajulu.
The letter of credit was issued for taking delivery of the cashew nuts which were already imported in the name of Maxwell Exim Private Ltd and MVR Industries respectively. The letters were sanctioned by Gopalakrishnan, who was then chairman and managing director on September 30, 1995, without the receipt of regular proposals of the respective branches of Indian Bank at Nandanam and Saidapet and only on the basis of request letters. He sanctioned it without any reports on the pre-sanction assessments, credit-worthiness, security aspects and source of repayment, CBI stated. Indian Bank suffered a loss of `4.97 crore.
CBI then filed a charge-sheet against Gopalakrishnan and a host of the then bank officials.
Out of them, Usha Devi, Directors of Anderson Industries International Ltd, is absconding and case against her is still pending. During the trial, one Jayaraman expired and charges against him abated. Sathyam Chemicals director K Sai Jagannathan was sentenced to undergo three years of Rigorous Imprisonment.
Kumarasamy, AR. Arunachalam, Sambasivam, M V Varadarajulu and Krishna Kumar were given two years of rigorous imprisonment and Balakrishnan, Srinivasa Raghabvan and Vasantha Rahjan were sentenced to undergo one year of rigorous imprisonment. A fine of `1.35 lakh has also been imposed on them.
Source:The New Indian Express
Thursday, 30 June 2016
Punjab National bank
17:33
Indian Bank denies merger with PNB
Indian Bank denies merger with PNB
Recently, there was news that Oriental Bank of Commerce, Allahabad Bank, Corporation Bank and Indian Bank merging with PNB, will form a better balance sheet. "We have not heard that at all. May be a WhatsApp message is getting circulated. At present, there is nothing as far as our knowledge goes,” Indian Bank Executive Director A S Rajeev told Deccan Herald.
Rajeev said, "Our capital adequacy ratio (CAR) is the best in the industry for the past four years, which is 13.20% and tier I capital is 12.08%. We are a very well-capitalised bank. We don’t require any capital at all. We have enough headroom available for growth.” CAR, also known as Capital to Risk (Weighted) Assets Ratio (CRAR), is the ratio of a bank’s capital to its risk.
At present, the government holds 82% stake in Indian Bank. Rajeev was in the city to inaugurate specialised branches for retail and MSMEs. IND Retail will exclusively handle home loans, vehicle loans and mortgage loans and IND MSME will cater to the needs of MSMEs.
"We are targeting a growth of 25-30% this financial year through MSME segment. As of now, we have 33 specialised branches dedicated to MSME and we are planning to add 80 branches by March-end.”
For next quarter, the bank is purely concentrating on retail and MSME sector as corporate sector is a stressed area.
Karnataka stands fourth
In Karnataka, Indian Bank has 106 branches with 113 ATMS and 950 employees. The total business of the bank in Karnataka is to the tune of Rs 14,000 crore out of which Bengaluru contributes Rs 11,000 crore.
Indian Bank General Manager and Zonal Manager Bengaluru Zone S Chezhian said, "We are targeting a growth of 20% this financial year compared with 11% growth in last fiscal.” For Indian Bank, Karnataka stands fourth after Tamil Nadu, Maharashtra and Delhi.
Going North
Indian Bank, which has a massive presence in the South, is planning to open new branches in North India. "Overall, we are planning to open 150 branches, mainly in North India. We have already identified 200 most happening cities. Out of those, we have shortlisted 120 cities, and are opening new branches and rest will be set in tier II and III towns,” Rajeev said.
According to Rajeev, happening cities are those where industrial activities are picking up. The bank is exploring new states like Punjab, Chattisgarh, Jharkhand among others.
Highest ATM hits
Indian Bank has over 3,000 ATMs across India and gets highest hits. Rajeev claimed that the bank’s ATMs get highest hits of 175 per ATM, which is number one in the industry. Hits means number of transactions per ATM, including Indian Bank and other bank customers.
"On a daily basis, we expect minimum 156 hits per ATM or else it is not a profitable venture. Last year, the number of hits were 164,” Rajeev said.
TCS technology
Not lagging behind, the public sector behemoth has TCS technology platform when wooing more tech savvy customers. For retail and MSME, lead generation is happening through mobile application only.
Rajeev claimed that in many states including Tamil Nadu, Telangana, Chattisgarh and Bihar, Indian Bank technology is used in the government payment system. For example, in Bihar civil supply corporation, the Indian Bank has tied up with ration shops.
In South, Indian Bank has been selected for epf (electronic provident fund) payments along with SBI. In Tamil Nadu, entire MNREGS (Mahatma Gandhi National Rural Employment Guarantee Act) transactions take place on Indian Bank technology platform.
Notion as pensioners bank
On the notion of public sector banks views as pensioners bank, Rajeev said, "Average age of our employees is 38 years. Usually, there is a feeling that PSBs is considered as a pensioners bank. More than 70% of our customers are below 40 years.”
Source:BankNewskumar
Sunday, 6 March 2016
indian bank
07:47
SWIFT financial messaging service launched in India
SWIFT financial messaging service launched in India
Financial messaging services provider SWIFT launched its services in India on Thursday, bringing with it a unified messaging protocol that can link banks, financial intermediaries, regulators, and stock exchanges and clearing agencies through one suit that can secure transactions by keeping records in a dematerialised form.
While the services do not facilitate transactions per se, it generates encrypted messages for every transactions made, thereby minimising chances of fraud and easy reconciliation of accounts.
Newly formed Bandhan Bank, IDFC Bank and Tata Consultancy Services were among 13 clients which signed up for the services on the first day.
fi
SWIFT India is a joint venture between SWIFT SCRL and nine Indian banks — State Bank of India, Bank of Baroda, Punjab National Bank, Bank of India, Canara Bank, Axis Bank, HDFC Bank, ICICI Bank, and Union Bank of India. The entity will be regulated by the Reserve Bank of India (RBI) and the data centre will be located in India, which is a departure from SWIFT’s usual practice.
Under the conditions laid down by RBI, SWIFT would be ready to share data with the regulator, but will not do so as a practice, said Alain Raes, chief executive EMEA and Asia Pacific, SWIFT.
RBI has opted to be in the Euro Zone grouping as the group has stricter data sharing norms. Since the data centre will be located in India, SWIFT will not oblige any country seeking transaction data of Indian banks but will have to approach RBI first.
SWIFT works in over 200 countries, and has clients in 10,800 banks, securities institutions and corporate customers. About 90 per cent of the transactions generate in the domestic market of the operation.
Source:BankingUpdates
Wednesday, 9 December 2015
TamilNadu
10:08
Flood relief for Tamilnadu
Flood relief for Tamilnadu
As you all know Tamilnadu is suffering from Heavy Rain/Flodd unseen for more than 100 years.
Apart from Chennai City , Tiruvallur Dt, Kancheepuram Dt, Cuddalore DT. and all costal Districts are also badly affected.
you might have seen the video clippings/Photo/News of the disaster.
Now on behalf of BEFI a call has been given to help the people in the affected area.
Those who are willing to contribute may remit money in the following account as per the circular attached.
A/C Name Bank Employees Federation of India-TN
A/C No. 420077544
Indian Bank
Anna Salai Branch.
IFSC - CODE : IDIB000A089
Source:IndianBankKumar
Monday, 23 November 2015
NRI
08:50
NRI bank deposits surge $10 billion in first half; total NRI deposits in Indian banks reach $121.8 billion
NRI bank deposits surge $10 billion in first half; total NRI deposits in Indian banks reach $121.8 billion
What if foreign funds are pulling out expecting the US Federal Reserve to change its zero-rate monetary policy? Deposits by the Indian diaspora in local banks swelled by $10 billion in the first six months of the current fiscal year, as they looked to seize the advantage of a weak rupee and the interest rate differential between advanced economies and India.
Inflows into NRI deposits between April and September were 55% higher than in the year-earlier period, according to latest data from the Reserve Bank of India. As of September 30, NRI deposits in Indian banks totaled $121.8 billion.
NRIs are allowed to park funds under three categories in Indian banks. These are foreign currency non-resident-bank (FCNR-B), non-resident (external) rupee account (NRERA) and non-resident ordinary (NRO). FCNR-B accounts do not carry foreign exchange risk as the deposits are parked in foreign currencies. For those who put money in this account, the gain comes from interest rate differential. In the case of NRERA deposits, NRIs gain at the time of investment if the rupee is depreciating.
"NRIs are more positive about Indian economy of late than what they had been in the recent past," said Parthasarathi Mukherjee, Axis Bank's group executive for corporate relationship group and international banking.
Statistics from the Securities & Exchange Board of India show that foreign investors pulled out $2.88 billion net from Indian debt and equities in the first half of the fiscal year in anticipation of a rate hike by the US central bank, which would give them higher returns than now from investments in advanced economies.
"An important development in the forex market has been the strengthening of the dollar over time. This has been hastened with the expectation of the Fed increasing the interest rate causing the dollar to strengthen as funds keep flowing back to the US," Madan Sabnavis, chief economist at CARE Ratings, wrote in a report on the rupee.
However, Fed's decision to defer a decision on increasing interest rate may have prompted overseas Indians to seek higher returns offered by FCNR-B deposits. NRIs get 1.30-2.49% a year on dollar-denominated FCNR-B deposits, depending on maturity profile of these deposits.
The US Federal Reserve's benchmark rate is near zero. The flow in FCNR-B deposits grew 68% from a year earlier to $1.759 billion in the six months starting April. FCNR-B deposits mostly come from NRIs residing in advances economies who look to take advantage of the interest rate differences as Indian banks offer higher rates.
NRIs parked about 50% more in NRERA accounts with banks such as State Bank of India during the April-September period over the same period last year.
The inflows in these accounts during the period were $7.759 billion. NRERA deposits mostly come from Indians working in the Middle East, where they don't have much investment opportunities. NRERA accounts have contributed more than three-fourths of the $10-billion incremental inflow as the rupee remained weak during the period, moving between 62 and 66 to a dollar. Remittances usually increase when the rupee is weaker as each dollar, or any other currency, that the NRI sends will fetch him more rupees.
Source:BankingUpdates
Thursday, 19 November 2015
Interview
08:45
IBPS IV 2nd batch
IBPS IV 2nd batch
INDIAN BANK
Corpoarte Office,
HRM Department
Chennai 600 014
We are pleased to inform that 93 candidates as per Annexure-II of our notification dated 02.10.2015 have been provisionally selected for appointment as Clerk in the Bank subject to verification of original Credentialsat the time of reporting, i.e., on 30th November 2015 at Staff Training Centre, Vijayawada.
The provisional list is prepared at our end based on the scrutiny of the photo-copies of documents submitted by the candidates at the time of Interview.
Documents in respect of Category/Caste and Disability should be as per the formats prescribed by Government of India.
The reporting date for the candidates listed as per Annexure will be 30th November 2015 at Staff Training Centre, Vijayawada, Andhra Pradesh. The Offers of Appointment containing the required formalities will be issued by the respective Zonal Managers to the candidates individually.
All concerned are notified that decision of the Bank in respect of all matters pertaining to this Recruitment would be final and binding on all the
candidates.
We wish the candidates a rewarding career in the Bank.
Chennai Deputy General Manager (HRM)
November 16, 2015
Source:INDIANBANKKUMAR
Sunday, 8 November 2015
retired bank employees
15:24
Clarification on Medical Insurance Policy for Retired
Clarification on Med.Ins. Policy for Retired!
IBA’s CIRCULAR
INDIAN BANKS’ ASSOCIATION
HR & INDUSTRIAL RELATIONS
No. CIR/HR&IR/2015-16/XBPS/J/1593
October 31, 2015
Chief Executives of Member Banks which are parties to the Bipartite Discussions
Dear Sir/Madam,
Implementation of Medical Insurance Scheme to Retirees as agreed vide Bipartite Settlement/Joint Note dated 25.5.2015
We refer to our Circular No.CIR / HR&IR / 2015-16 / XBPS / J /1413 dated 1.10.2015 advising member banks to obtain consent of retirees expeditiously and provide details to United India Insurance Company Ltd., (UIICL) and to make Group Medical Insurance Policy operational, preferably w.e.f. 1.11.2015.
We are informed that as on date, 13 banks have sent details of retirees and have either paid the premium or are in the process of remitting the premium and joined the Scheme w.e.f. 1.11.2015.
We have been receiving queries from banks, as to whether surviving spouse of the deceased employee (widow/widower) are eligible to join the Scheme.
We are to state that since insurance premium is to be paid by the retirees/surviving spouses of the deceased employees and UIICL has agreed to include spouse of the deceased employee,
Banks may include the spouse of deceased retired employee under the Group Medical Insurance Scheme. Further, Bank will not incur any additional cost by doing so as Insurance Premium would be borne by the retiree/spouse.
IBA received letters from few Banks to request the UIICL to start the Group Medical Insurance Policy for retirees from 1.12.15 (instead of 1.11.2015) and permit them to pay pro rata premium, as banks have not completed the process of collecting details/premiums from the retirees.
On reference to Insurance Companies, we are advised as under:
“In all our workshops we have been mentioning that there would be no pro rata premium for the retirees. This is so, because in case of the retirees the coverage and the premium is very competitive and is not available anywhere else. They also being covered under the policy without any medical examination and coverage for pre-existing ailments is also available to them. They may join at a later date on pro rata and could delay hospitalisation which may have been needed in November to December or January. In this manner, though they may pay a reduced pro rata premium, the claims would be 100% and this would upset the actuarial balance of the policy.”
In view of the foregoing, for retirees, the Policy will commence uniformly w.e.f. 1.11.2015 and they have to pay full year premium. Banks which are yet to submit details of retired employees/remittance of premium, are requested to do so at the earliest, so as to cover the retirees from the date of payment of premium, lest they will be deprived of the benefit of coverage from 1.11.2015 till the date of payment of premium .
Yours faithfully,
Sd.. K UNNIKRISHNAN
DEPUTY CHIEF EXECUTIVE
Source:IndianBankKumar
Wednesday, 4 November 2015
UCO Bank
08:17
Centre yet to implement reforms, public sector banks remain headless
Centre yet to implement reforms, public sector banks remain headless
Over ten months after the government conducted a banking conclave ‘Gyan Sangam’ to chalk out its strategy for public sector banks in early 2015 in Pune, the situation has hardly shown any improvement in terms of governance and performance with the government yet to implement many of the reforms announced earlier.
Four public sector banks :-
- Indian Bank,
- UCO Bank,
- Andhra Bank and
- Bharatiya Mahila Bank .
are functioning without a CEO and MD. Over half a dozen banks, including Oriental Bank of Commerce and Punjab National Bank are without a non-executive chairman. More than ten executive director posts are lying vacant in various PSU banks. Bank of Baroda, which is in the spotlight for an alleged Rs 3,500 crore illegal remittances fraud, got its full-time MD and CEO — PS Jayakumar — on October 13 after nearly 14 months. The appointment of MD for Life Insurance Corporation is also pending and the post of member (non-life) for insurance regulator IRDA is also lying vacant.
The PJ Nayak Committee on ‘Governance of Boards of Banks in India’ submitted its report on reforms in public sector banks 16 months ago. In August 2015, the government announced MDs for five PSU banks and a seven-point framework called ‘Indradhanush’ that included setting up a Bank Board Bureau (BBB) and a holding company.
Source:Bankingupdates
Source:Bankingupdates
Monday, 19 October 2015
West Bengal
11:03
E-surveillance may take away 2 lakh ATM security jobs
E-surveillance may take away 2 lakh ATM security jobs
Almost two lakh security personnel manning ATMs across the country may lose their jobs over the next two-three years as Indian banks have started deploying advanced e-surveillance architecture for security and monitoring of their cash machines.
Axis Bank has taken a lead in implementing the globally prevalent centralised e-surveillance in most of its ATMs while others such as State Bank of India, HDFC Bank and Uco Bank are in the various stages of mechanising their ATM security arrangement.
Bankers say the shift will help them save up to 90% in security costs and that the modern system is safer and more reliable. "This (centralised e-surveillance) enables us to remotely monitor our ATMs 24x7 rather than relying on the guard to report any incidents," said a senior official from HDFC Bank, which is running a pilot in 500 machines. He said the bank will do additional deployment going ahead.
"This initiative is in line with our overall objective of leveraging the digital solutions to enhance our services & provide a secure transacting environment to our customers," Sonchhatra said.
A centralised e-surveillance facility can monitor ATMs 24x7 from a security operation centre.
The system includes installation of multiple sensors—motion sensor, thermal sensor, removal sensor and breaking sensor—a hooter or alarm, 2-3 CCTVs, and a two-way speaker in the ATM room. In the event of unauthorised activities, a hooter alert propels a twoway communication between the officials at the security operation centre and the alleged intruders, through mike, speakers and CCTV system. The system would also alert the local police station and nearby onroad patrolling officer.
Banks are also deploying a quick response team to visit ATMs whenever the need arises.
"The e-surveillance solution is safer and more reliable than physical caretaker," said Rajiv Anand, head for retail banking at Axis Bank.He also pointed out that the cost of e-surveillance is approximately Rs 5,000 per site per month while at present banks spend about Rs Rs36,000 per ATM per month for engaging security guards in three shifts a day.
Uco Bank Executive Director JK Garg said that the bank is planning to put a centralised surveillance system in place to reduce cost. According to Bank Employees Federation, as many as 20,000 contractual security personnel guarding ATMs may turn redundant immediately.
About 370 people have lost jobs this year in West Bengal alone. Kunal Pande, partner at KPMG in India, said most banks in the country so far merely brought ATMs under CCTV coverage. "Although this can greatly add to efficiencies of security and law enforcement agencies and reduce reliance on physical security guards, they can only help in monitoring, they cannot provide an immediate response to a crime in action," he said.
"The security guards and policemen who are deployed today to physically monitor infrastructure and establishments could be redeployed for active security work," said Pande.
Indian banks have installed about 1.84 lakh ATMs between them as of May end. One-fourth of them belong to SBI.