Expected DA for Bank Employees from November 2017
Performing PSU banks likely to get capital push
The government plans to give “growth capital” to performing state-run banks as it looks to encourage credit disbursement for private investment.
An assessment is being carried out and adequate capital will be provided to performing state-run banks to push credit growth, a senior finance ministry official told ET.
“Banks have said they are aiming to achieve around 8% increase in their lending books, based on their size and operations,” said the official, who did not wish to be identified.
India Post Payment Bank to open 650 branches this year
India Post Payment Bank (IPPB) is planning mega expansion to open 650 branches this year.
The first two branches of IPPB have been opened in January 2017 in Ranchi and Raipur.
``We intend to open at least one branch per district across the country. Each branch will be networked with about 1200 to 1500 post offices in a district,’’ B V Sudhakar, Secretary, Department of Posts, Government of India told newspersons at a press conference here on Monday.
YES Bank cuts staff by almost 2,500, cites redundancies
Private lender YES Bank has gone in for "rationalisation" of workforce to address certain "redundancies", the company has said.
According to reports, the bank has reduced its workforce by nearly 2,500 on account of digitisation and automation.Although YES Bank did not put a specific number, it said digital transformation has created certain redundancies requiring rationalisation of workforce.
Bank of India board is examining the Merger plan
The board of Bank of India is examining the possibility of merger with other banks, based on the kind of synergy in business.
According Dinabandhu Mohapatra, managing director and chief executive officer, Bank of India, the bank is in the process of strengthening its systems and processes before exploring merger possibilities.
