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Banking

Bank of Baroda celebrates Hindi Diwas

Bank of Baroda recently celebrated Hindi Diwas, 2013 at its Corporate Office, Mumbai. On this occasion, Shri S S Mundra, Chairman & Managing Director of the Bank released a unique cartoon-booklet and two Animation Movies of the Bank on Financial Education in Hindi. He also released a special book on Sir Sayaji Rao Gaekwad, III, […]

Banking

RBI bans zero percent interest rate scheme for buying goods

The RBI on Wednesday banned zero percent interest rate scheme for purchase of consumer goods, a move intended to protect customers but may dampen the festive spirit. The central bank has also said that no additional charges can be levied on payment through debit cards. “…in principle, banks should not resort to any practice that […]

Banking

RBI Dy Gov: Only 40,000 villages in India have bank branches

Stressing the need for penetration of banks across the country, RBI Deputy Governor KC Chakrabarty on Tuesday said only 40,000 out of 600,000 villages have bank branches. “Banks are important financial intermediary, but our problem is that banks access is not there, today out of 600,000 villages only 40,000 villages have bank branch;…. banks penetration […]

Banking

ICICI Bank launches ‘Pockets by ICICI Bank’

Mumbai: ICICI Bank, India’s largest private sector bank, today announced the launch of ‘Pockets by ICICI Bank’, an app that enables its customers to carry out a slew of banking services on the social media site, Facebook. A first-of-its kind app on Facebook across the globe, ‘Pockets by ICICI Bank’ offers the Bank’s customers the […]

Banking

RBI sets up panel to frame vision for financial inclusion

The Reserve Bank on Monday announced a 13-member committee, including former Citibank CEO Vikram Pandit and Axis Bank chief Shikha Sharma, to frame a “clear and detailed” vision for financial inclusion/deepening across the country. The ‘Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households’ has been tasked to develop a comprehensive monitoring framework […]

Banking

Bank of Maharashtra opens 3 new Rural Branches in Hapur

Bank of Maharashtra a premier Nationalized Bank has opened 3 new rural Branches at 1. Fagouta 2. Nizampur 3. Galand, at Hapur Districts (Panchsheel Nagar) in Uttar Pradesh on 22nd September 2013 inaugurated by Honble M. P. Shri. Rajnath Singh, in the presence of Shri Narendra Singh, Chairman & Managing Director, Bank of Maharashtra (BoM) […]

Banking

Comments of Ms Chanda Kochhar, Managing Director and CEO, ICICI Bank on RBI mid-quarter policy

Well balanced policy with focus on structural imperatives as well as near term concerns. RBI has taken a balanced approach considering various developments across the globe and their near term impact, as well as the structural imperatives for India. Given the recent trends in the foreign exchange market, the reduction in the MSF rate and […]

Banking

Mushtaq Ahmad to continue as Chairman, J&K Bank for 3 yrs

Mumbai : Reserve Bank of India (RBI) has approved the extension of Mushtaq Ahmadas Chairman & CEO J&K Bank for the second term. As per the communication dated 17thSeptember 2013 from RBI, he will continue to head the institution for next three years. The extended term will have effect from 6th October,2013. Acknowledging the successful […]

Banking

Central Bank of India opened Ultra Small Branch under Financial Inclusion

Central Bank of India opened an Ultra Small Branch (USB) in Muduchintapalli (Lingapur) which is having 433 households with a population of 2075 under its Aliabad Branch under Ranga Reddy District to offer the banking services at the door step of the villagers. The Ultra Small Branch was inaugurated by Shri Malay Mukherjee, Executive Director […]

Banking

Bank of Baroda awarded the first prize under Indira Gandhi Rajbhasha Shield Competition

Bank of Baroda was conferred upon the first prize under Indira Gandhi Rajbhasha Shield Competition for the year 2011-12 for its outstanding performance in O.L. Implementation. Shri S.S. Mundra, Chairman and Managing Director of the Bank received the award trophy from Honorable President of India Shri Pranab Mukherjee in the gracious presence of Minister of […]