Syndicate Bank plans gold, e-term deposits

Syndicate Bank is planning to introduce electronic term deposit (e-term deposit) and also gold deposit at a later date, after the RBI has finalised the guidelines, according to M. Anjaneya Prasad, Executive Director.He told reporters here on Thursday that the bank would open one more branch in the city at Naiduthota and it was planning to set up a regional office here.He said the bank was attaching a lot of importance to Visakhapatnam region and special steps would be taken to improve business here.He said the bank was aiming at 25 per cent...

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Central Bank of India begins profiling defaulters

Central Bank of India has kicked-off an exercise to profile its defaulting borrowers. This move is aimed at assessing whether the defaulters are amiable to repay their overdue debt or should be proceeded against under the recovery law.In short, the public sector bank is attempting to separate the wheat from the chaff in order to recover the loans that have turned sour.Profiling of defaulters assumes urgency as the bank’s bad loans increased by 16 per cent year-on-year to Rs 8,456 crore as at March-end 2013.The field staff have been asked to...

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Andhra Bank re-brands for pan-India image

With a view to acquire a pan-Indian image, Andhra Bank has re-branded itself with a new corporate slogan.Founded in 1923 by noted freedom fighter Pattabhi Sitaramayya, it is now keen on shedding its image as a local bank and has adopted a new corporate slogan, ‘Andhra Bank: Where India banks’.When contacted, the bank’s Chairman and Managing Director B. A. Prabhakar told Business Line that efforts were on to make Andhra Bank a national brand.“Many people living outside Andhra Pradesh still do not know that it is a nationalised bank with a long...

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RBI to hire 525 assistants

The Reserve Bank of India will be recruiting 525 assistants to work in its various offices.Graduates in any discipline with minimum 50 per cent of marks in the age group of 18-28 years are eligible to apply.The recruitment would be conducted through an online examination and interview. The written test would be conducted in four phases in the last week of July. Interested candidates can apply between May 30-June 20, 2013.At present, the monthly gross emoluments for assistants in RBI is Rs 21,419 excluding other perquisites, RBI said in a...

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IndusInd Bank launches credit card for rich customers

Private sector lender IndusInd Bank announced its tie-up with American Express to launch IndusInd Bank Iconia American Express Card for its affluent customers.The card offers reward points and lifestyle benefits such as golf, entertainment, travel and dining.For every Rs 100 spent by the customer, a reward of 1.5 point on weekdays and of 2 points on the weekends will be awarded to the customer on his card. These points can then be redeemed for cash credit at full value, i.e, a rupee for each reward point and for partner air miles.The mid-sized...

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