BoI pact with insurance Cos for Govt. social security schemes

Bank of India partnered with insurance companies New India Assurance Co and Star Union Dai-ichi Life Insurance to roll out the government’s social security insurance schemes.“The New India Assurance and Star Union Dai-ichi Life Insurance Company will issue a Group Policy to the Bank and the Policy would start on June 1, 2015 for one year. Enrolment is likely to start from May 1, 2015,” the bank said in a statement.It added, “No proposal form required from account holder. Account holder has to give auto-debit request form to the Bank and will...

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UCO Bank cuts base rate by 25 bps

Kolkata-based UCO Bank has reduced its base rate by 25 basis points (0.25 per cent) to 9.95 per cent with effect from May 1, this year.Interest rate on deposits across all tenors has also been reduced “with immediate effect”, it said in a release.“UCO Bank reduces its Base rate by 25 Basis points to 9.95 per cent with effect from 1st May 2015, and, reduces Interest rate on deposits across all tenors with immediate effect,” the release said. Source : Thehindubusinesslin...

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Andhra Bank ‘poised to go national’

Andhra Bank will emerge as a truly national bank, with a presence from Kashmir to Kanyakumari, while maintaining its growth in Andhra Pradesh and Telangana, its Chairman and Managing Director C.V.R Rajendran said.He was addressing customers and the public after inaugurating the Sagarnagar branch in the city on Thursday morning. He said that during the past 16-18 months the bank had added more than 600 branches. "We have 2,500 branches at present and in the next one or two years we will add 1,100 branches more. Many of the branches will be outside...

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