Nilesh Vikamsey appointed as Federal Bank's part-time Chairman
Nilesh Shivji Vikamsey has been appointed as part-time Chairman of Federal Bank.
Vikamsey, who will assume office tomorrow, succeeds Abraham Koshy, who retired from the Board of Federal Bank last month on completion of his term of eight years.
Nilesh S Vikamsey, who is a Director on the Board of the bank, as part time chairman of the bank for a period of two years, effective from June 20, 2015.
RBI's Raghuram Rajan tells banks to use Hindi to promote banking
Reserve Bank of India Governor Raghuram Rajan told banks to use Hindi and other vernacular languages to connect with customers, especially in the remote parts of the country.
"It is the responsibility of the Government and the banking sector to provide banking facilities to those who have money, but have no access to formal banking channels in a language that they would understand," Rajan said Friday .
He was presenting the Rajbhasha shield for the year 2013-14 awards to winning banks.
He said that Hindi and other regional languages would also help poor customers understand banking facilities better.
Now deal in foreign currency on SBI's e-forex Internet platform
The country's largest lender State Bank of India said it has launched SBI e-forex, an Internet-based platform that enables customers to book their foreign exchange transactions online.
The customers will be able to obtain forex rates without having to visit the branch.
"The SBI e-forex is an innovative platform incorporating robust security features and is designed to be user-friendly, fast and convenient," it said.
HDFC Bank partners with Manipal Global to set up the Leadership Academy for Branches
HDFC Bank has formed an alliance with Manipal Global to set up the Leadership Academy for Branches (LAB).
According to a statement, the one-month residential program is being rolled out to groom the HDFC bank managers for Branch-Head positions.
The program will be held at Manipal Academy of Banking campus in Bengaluru.
Odisha State Co-operative Bank launches Bank on Wheels
Odisha State Co-operative Bank is going to launch the ‘Bank on Wheels’ to help farmers get loans on their doorstep.
Twenty vans with ATM facility will move around 20 remote and tribal pockets in Keonjhar, Koraput, Kalahandi, Mayurbhanj, SundargarhSambalpur districts for the purpose.
The Centre has provided Rs 6 crore, at the rate of Rs 30 lakh for each vehicle, to agriculture department for the scheme under Rashtriya Krishi vikas Yojana.
Anyone can withdraw money from the mobile ATMs though the scheme is meant for farmers
As many as 44 lakh farmers under primary agricultural cooperative societies (PACS) will be issued smart kisan credit cards to withdraw crop loans sanctioned to them, said Panda.