SBI to adopt repo rate as external benchmark from 1 October

On 4 September, the Reserve Bank of India (RBI) had mandated all banks to link all new floating rate personal or retail loans and floating rate loans to micro, small and medium enterprises (MSMEs) to an external benchmark. Continue Reading

Bankers face tough times with ongoing lockdown in Kashmir

There are instances where stones have been pelted at branches while being opened, and there is also a case of a female banker’s two-wheeler was stolen allegedly by locals for daring to open the branch, recalls the banker. After understanding the banking patterns, the officials feel keeping the ATMs running will be of help. Continue Reading

‘PNB, UBI & OBC merger to benefit stakeholders’: Official

Allaying apprehensions of stakeholders, United Bank of India MD and CEO Ashok Kumar Pradhan said there will be ‘no retrenchment’ of human resource of the three banks or no voluntary retirement scheme (VRS) will come in the process of merger of these state-run lenders. Continue Reading

109th SICCI Annual session conducted

The 109th annual session of The Southern India Chamber of Commerce and Industry (SICCI) was held recently in Chennai which saw the participation of Governor Banwarilal Purohut, MSME Additional Chief Secretary, Hans Raj Varma and Department of IT Secretary, Tamilnadu, Santhosh Babu among others. Continue Reading

Bank of Maharashtra celebrates 85th Foundation Day

Director Bank of Maharashtra, R Thamodhran took part while zonal manager- Chennai Zone, Rajesh Singh gave the inaugural address. A short film on the journey of the bank was showcased to the guests. Vote of thanks was delivered by Dy Zonal Manager – Chennai, NS Deshpande, said a press release. Continue Reading

FedEx Express all set for Pharma Summit in Mumbai

FedEx Express, a subsidiary of FedEx Corp and largest express transportation company, will participate as a gold sponsor and showcase its healthcare solutions at Supply Chain Management (SCM) Pharma Summit in Mumbai to be held on 24-25 September. Continue Reading

FMMMA organises Market of India Trade Awards

The Chennai edition of the awards saw Lifetime Achievement Awards were presented to N Nalli Kuppuswami Chetti of Nalli Silks and to Govind Das Purushotham Das of Gocoola Das Jumna Doss. Continue Reading

General Motors’ workers go on strike

The decision, which the Wall Street Journal described as the first major stoppage at GM in more than a decade, came a day after the manufacturer’s four-year contract with workers expired without an agreement on a replacement. Continue Reading