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Archive for the ‘Banking News’ Category:

Urjit Patel appointed on BIS advisory board

RBI Governor Urjit Patel was on Wednesday appointed to the Financial Stability Institute Advisory Board or the Bank of International Settlement (BIS), a global financial organisation owned by major central banks from across the world. The Financial Stability Institute (FSI)
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SBI reduces employee base by 10,500 post merger

Country’s largest bank State Bank of India (SBI) has reduced its total employee strength by 10,584 in the six months period after its merger. This is further expected to go down by 4,876 people by the end of the year
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State Bank of India cuts lending rates, first time in 10 months

Country’s largest bank, State Bank of India (SBI), announced a 5 basis point cut in its benchmark lending rates across maturity, which first cut after 10 months. The bank has pegged its benchmark rate to 7.95% for a term of
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Suresh Sethi appointed as MD & CEO of India Post Payments Bank

India Post Payments Bank (IPPB) appointed Suresh Sethi, former MD of Vodafone M-Pesa Ltd. as its Managing Director and chief executive officer, replacing AP Singh who had held the post in the interim since January 2017. Sethi had been selected
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HSBC appoints Jayant Rikhye as CEO India

The Hongkong and Shanghai Banking Corporation (HSBC) today announced the appointment of Jayant Rikhye as the chief executive officer for India. The appointment would be effective from December 1 subject to regulatory approvals, HSBC said in a statement. In his
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Government appoints 9 executive directors for public sector banks

Even as the senior-level placements for public sector banks are underway, the government has approved the appointment of nine Executive Directors (ED), according to reports. This comes five days after the appointment of State Bank of India Chairman Rajinish Kumar
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Rajnish Kumar appointed as SBI chairman

Rajnish Kumar was on Wednesday appointed chairman of the largest public sector bank, the State Bank of India (SBI), replacing Arundhati Bhattacharya, who completes her one-year extended term on Friday. Mr. Kumar, who is now the managing director of the
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SBI chief Arundhati Bhattacharya’s term extended till Oct 2017

Arundhati Bhattacharya’s term as the Chairman of State Bank of India (SBI) has been extended by the central government, till October 2017. This move has been made to ensure smooth merger of the SBI’s five associate banks and Bharatiya Mahila
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Urjit R Patel to be next RBI Governor

The government on Saturday appointed Urjit R Patel to replace RaghuramRajan as the RBI governor. Urjit Patel will take charge on September 4, the day Raghuram Rajan completes his three-year term and steps down. Raghuram Rajan had announced in June that
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SBI approves merger with associate banks

State bank of India the country’s largest lender, on Thursday approved the merger of its operations with five of its associate banks. Post approval, State Bank of Travancore, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank
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