SBI associates' staff go on strike against merger
PTI Nearly 50,000 employees of five associate banks of State Bank of India have gone on a day-long nationwide strike on Friday to protest the proposed merger with their parent bank. The employees of all the associate banks of SBI are protesting under the banner of All India Bank Employees Association. "We are protesting against the plan of SBI management to merge 5 large associate banks into it," a statement issued by the union said. The employees will also stage a demonstration against the proposal at Azad Maidan here on Friday. SBI has five associate banks -- State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank Of Travancore. Notably, the Board of Directors of ...
A special Chinese desk to be launched by SBI to attract Chinese investors
The Dollar Business Bureau The Shanghai branch of State Bank of India (SBI) would launch a special desk for the Chinese investors. This move is to attract investments from China under the Make in India campaign. According to the bank officials, “This special desk will be the first China dedicated desk at any Indian bank and would follow a Japan desk, fixed in New Delhi by the bank last month following which the International Development Bank of Japan has shown interest in business opportunities in India. The special desk of China would start functioning on Monday. “With the aim to grab these opportunities, more than 20 Indian Companies are interested in taking part in the India-China Business and investment forum and the ...
Centre to pump in Rs 6,900 crore in select PSU Banks
The Dollar Business Bureau The Government has announced infusing Rs 6,900 crore in nine public sector banks. The key point is that this additional capital has been given on the basis of new criteria that comprise of efficiency parameters. State Bank of India has got the maximum amount followed by Bank of Baroda and Punjab National Bank. A Finance Ministry statement said banks that are more efficient would be rewarded with extra capital for their equity so that they can further strengthen their position. The methodology for calculating the amount to be infused involved two parameters. First, the weighted average of return on assets (ROA) for all PSBs for the last three years put together was arrived at and those above ...
