Daily Banking Current Affairs on 1-2 July
CCI approves IndusInd Bank's acquisition of jewellery business of RBS
The Competition Commission of India (CCI) approved IndusInd Bank's acquisition of diamond and jewellery financing business of Royal Bank of Scotland ( RBS) in India.
The exact size of the deal was not disclosed, the RBS' jewellery business has a loan book of Rs 4,500 crore and related deposits. Hinduja promoted IndusInd bank already has a diamond and jewellery financing business of about Rs 1,500 crore.
Indian Bank revises interest rates for FCNR (B) deposits
Public sector Indian Bank has revised its interest rates for foreign currency non-resident (banking) deposits with immediate effect.
"For FCNR (B) deposits, in US Dollar, the revised interest rate for deposits of one year and above but less than two years has been fixed at 1.51 per cent from the existing 1.50 per cent", Indian Bank said in a statement.
For deposits of up to two years and above but less than three years it has been revised to 1.90 per cent from the existing 1.87 per cent, it said.
Interest rates for three years and above but less than four years have been revised to 3.01 per cent from the existing 2.95 per cent, it said.
For deposits of four years and above but less than five years, the interest rates have been revised to 3.29 per cent from the existing 3.19 per cent.
For deposits of up to five years only, the interest rates have been revised to 3.53 units from the current 3.40 per cent, the statement said.
National Institute of Speech and Hearing partners with Federal Bank to set up ATC
National Institute of Speech and Hearing (NISH) has partnered with Federal Bank to set up an Assistive Technology (AT) Centre for enhancing higher education possibilities for people with disabilities.
An MoU to this effect was signed in the presence of Chief Minister Oommen Chandy by NISH Executive Director Dr Samuel N Mathew and Federal Bank Managing Director and CEO Shyam Srinivasan.
State Bank of India plans massive branch overhaul; to focus on digital banking
Country's largest lender State Bank of India (SBI) said it is undertaking a major change in branch formats and new branches will be opened purely based on customer needs.
The new initiative would focus on more digital branches like InTouch and InTouch Light branches, e-corners at existing branches to target young customers, apart from relocating existing branches in older parts of cities to newer locations, SBI chairperson Arundhati Bhattacharya told reporters here.
DBS bank's former chief Sanjiv Bhasin to join Centrum Capital as CEO & MD
DBS Bank's former India head, Sanjiv Bhasin, is joining Centrum Capital as managing director and chief executive, as the Mumbai-based financial services company looks to ride on the expertise of top talent from a foreign bank and speed up growth.
KV Kamath relinquishes ICICI Bank post, gets set for job as BRICS head
Largest private sector lender ICICI Bank said its non-executive chairman KV Kamath has relinquished his position at the bank to take over as the head of the BRICS-promoted New Development Bank (NDB).
The bank said it has appointed M K Sharma as non-executive part-time chairman, post RBI approval.
Sharma's appointment is for three years, effective July 1, 2015, it added.
Kamath will be the first head of NDB set up by the BRICS Group of emerging market economies.
Mobile banking transaction will overtake internet banking transactions: HDFC Bank
Mobile banking transactions will overtake internet banking transactions over a period of two years as customers find it a convenient mode of transaction, according to Nitin Chugh, head - digital banking at HDFC Bank.
