RBI imposes restrictions banking business on Oriental Bank of Commerce

The Reserve Bank of India (RBI) has imposed certain restriction on banking activities of government-owned Oriental Bank of Commerce which has suffered huge losses due to sharp rise in bad loan. This will be the seventh bank among the 21 PSU banks to be placed under restrictions since March this calendar year. 

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Union Bank of India (UBI) Recruitment 2017

Union Bank of India (UBI) has published Advertisement for below mentioned Posts 2017. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.

Posts: Credit Officers (MMGS-II)

Total No. of Posts: 200 Posts

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Rajnish Kumar appointed as SBI chairman

Rajnish Kumar, next SBI Chairman, profile: Rajnish Kumar is set to replace Arundhati Bhattacharya as the Chairman of the State Bank of India next week. Rajnish Kumar, who has been appointed for three years, is a current managing director with the bank. As per his profile on SBI General Insurance website, Rajnish Kumar has served as Managing Director (National Banking Group), a position he was given on 2nd November, 2015.Rajnish Kumar has also served as the Managing Director (Compliance & Risk) of SBI. The senior bank official previously also headed the SBI Capital Markets Limited (the Merchant Banking arm of State Bank of India) as Managing Director and Chief Executive Officer, prior to becoming Managing Director in SBI, his profile says.

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Expected DA for Bank Employees from November 2017

Consumer Price Index (CPI) for the month of August 2017 has also been published by Labour Bureau, which is 285 i.e., at the same level as that for the month of July 2017. And if CPI for the next months i.e., September 2017 remains same at the same level (285) as that for the month of July 2017 and August 2017, DA slabs for the next quarter, November 2017 to January 2018 will be 516 i.e., 51.60 %. That means, bankers’ DA from November 2017 is expected to increase by 3.80%  from the present quarter (which is 47.80%). Dearness Allowance for bankers had declined consecutively for previous two quarter before the same increased by 2.20% during the quarter Aug-Oct 17.

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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. 

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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.

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