SBI appoints 5 Managing Directors (DMDs)
1. The
country’s largest lender State Bank of India has elevated five of its Chief
General Managers (CGMs) to the post of Deputy Managing Directors (DMDs)
2. On
the directions of the RBI, the bank has split the post of chief risk and credit
officer into two separate posts which include chief risk officer and chief
credit officer
3. MS
Shastri, who has so far been looking after risk management, has taken over as
chief risk officer (CRO)
4. Varsha Purandare, who was holding the post of chief risk and credit officer,
will now on act as the chief credit officer only
5. Mrityunjay
Mohapatra has been appointed chief information officer to look after the IT
department located at Belapur in New Mumbai.
6. The
post of the CRO and CIO are also DMD level appointments.
7. Karnam
Sekar, who is heading the UP circle as CGM, has been promoted as a DMD and is
awaiting the new assignment.
8. The
two other newly-appointed DMDs who are yet to be given assignments are Shashi
Kumar (CGM, Hyderabad) and Manju Agrawal (CGM, agri business) at the corporate
office, the source added.
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KGB ties up with Xpress
Money to provide remittance services in India
1. Xpress
Money has announced a strategic tie-up with Kerala Gramin Bank (KGB) to provide
remittance services in India.
2. The
partnership is facilitated by Muthoot Forex Ltd, Xpress Money’s principal
agent.
3. Kerala
Gramin Bank is India’s largest regional rural bank.
4. The
association has added 542 agent locations to Xpress Money’s Kerala circles.
5. This
partnership will provide customers access to Xpress Money’s services key
remittance pockets, namely Alappuzha, Ernakulam, Idukki, Kannur, Kasaragod,
Kollam, Kottayam, Kozhikode, Malappuram, Palakkad, Pathanamthitta,
Thiruvananthapuram, Thrissur and Wayanad. Xpress Money’s services are now
available in over 8500 agent locations across the state. This includes KGB’s
network as well.
Doha Bank to open branch in Kochi soon
1. Doha
Bank, a leading bank in Qatar with its operations mostly based in the Gulf,
will soon open a branch in Kochi as a natural outcome of its purchase of HSBC
Bank Oman’s branches in Mumbai and Kochi.
2. The
bank, which a couple of days ago opened its first Indian branch in Mumbai, will
mainly cater to the needs of the large non-resident Indian (NRI) population,
both in Kerala and the Gulf.
3. Doha
Bank had in March completed the process of taking over the Indian operations of
HSBC Bank Oman.
4. Doha
Bank Chairman Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani said the bank was
now following a strategy of international expansion and would soon have its
footprint across 15 nations.
Doha
Bank
1. Doha
Bank is the largest private commercial bank in the State of Qatar.
2. It
was incorporated in 1978 and commenced its domestic and international banking
services in Doha, Qatar on March 15, 1979.
Indian Army and Bank of India ink MoU on
Defence Salary Package
1. Indian
Army and Bank of India (BOI) on signed Memorandum of Understanding (MoU) on the
Defence Salary Package.
2. The
signed MoU is a revised version of previous and first MoU which was signed in
2011 between both parties and was valid for a period of three years.
3. The
basic features of the MoU are the same as before and are tailor made to suit
the requirements of serving soldiers, pensioners and their families.
Numbers of additional facilities are
incorporated after concerted efforts.
1. It
includes the standard bundle of free and concessional services. These free
services are drafts, cheque books, funds transfers to any bank in India through
RTGS and NEFT, ATM cards etc.
2. Added
additional facilities also include extended Personal Accident Insurance (PAI)
cover upto Rs 10 lacs from current Rs 5 lacs. PAI is for air insurance, Home
Loan Insurance on Army Welfare housing Organisation (AWHO) for deaths on
account of war, external aggression and terrorist attack up to Rs 50 lacs.
3. By
signing this MoU, Indian Army is hoping it will benefit a large number of
serving and retired Army personnel who are having their accounts with BOI.
4. It
also seeks to provide them an opportunity to access modern banking facilities.
Forbes released Global companies list
1. Forbes
Magazine has released Global 2000 companies list of World’s largest, most
powerful public companies.
2. A
total of 2000 companies were listed from 61 countries.
Industrial
and commercial Bank of China topped the list for 3rd consecutive year.
3. SBI
has ranked 152, a total of 16 Indian companies are in the list.
SBI launches RuPay Platinum debit
card
1. India’s
largest lender State Bank of India (SBI) has launched a RuPay Platinum debit
card in association with National Payment Corporation of India (NPCI).
2. The
card initially would be issued free to customers maintaining a quarterly
balance of 50,000 rupees.
3. This card has a special feature which is
accepted at all payment channels including ATMs, point-of-sale (PoS) and
eCommerce.
4. RuPay Platinum debit card holders will also get additional benefits
like 5 per cent cash back on utility bill, complimentary concierge services,
personal accident death and permanent total disability insurance cover of Rs 2
lakh, complimentary airport lounge.
5. It
should be noted that, presently SBI has 19.7 crore debit cards in circulation.
Of this total debit cards in circulation, 4.5 crore are RuPay cards.