BANK OF INDIA

psbs-remain-government-captives

PSBs remain government captives

Structural problems of the PSBs, most of them imposed by the government and its system of political governance, has incrementally increased the government shares in 12 PSBs even as it has been seen trying really hard to offload its shares.
For instance, the huge recap infusion of Rs2.6-lakh crore into the PSBs over the past three years - to offset their bad loans - has sharply accelerated government holdings in these banks which could, in turn, limit the size of future capital infusion in certain banks. Of the 12 PSBs, the government holds 92-96 percent in four of them and 83-89 percent in five banks.
Of course, the government would like to offload its shares in PSBs. But the problem is there are very few takers for shares of PSBs despite cheap valuations of 0.4-0.6 times book. The only way investors' appetite in the shares of PSBs can be whetted up is by way of withdrawing the government's socialist hands from the functioning of these banks and driving them towards following the best global banking practices.
Once this transition takes place, investors would be glad to chase PSBs shares and enable the government to recover its cost plus profit. 

16 Sep 2020
bob,-boi-and-canara-bank-get-new-md-&-ceo

BOB, BoI and Canara Bank get new MD & CEO

The NaMo administration on Monday appointed Sanjiv Chadha (DMD, SBI), as Managing Director and Chief Executive Officer, Bank of Baroda for a period of three years.

Lingam Venkata Prabhakar (ED, PNB) as Managing Director and Chief Executive Officer, Canara Bank whereas Atanu Kumar Das (ED, Bank of India) was appointed as MD & CEO Bank of India for a period of three years.

20 Jan 2020
psbs-remain-government-captives

PSBs remain government captives

By IndianMandarins 16 Sep 2020

Structural problems of the PSBs, most of them imposed by the government and its system of political governance, has incrementally increased the government shares in 12 PSBs even as it has been seen trying really hard to offload its shares.
For instance, the huge recap infusion of Rs2.6-lakh crore into the PSBs over the past three years - to offset their bad loans - has sharply accelerated government holdings in these banks which could, in turn, limit the size of future capital infusion in certain banks. Of the 12 PSBs, the government holds 92-96 percent in four of them and 83-89 percent in five banks.
Of course, the government would like to offload its shares in PSBs. But the problem is there are very few takers for shares of PSBs despite cheap valuations of 0.4-0.6 times book. The only way investors' appetite in the shares of PSBs can be whetted up is by way of withdrawing the government's socialist hands from the functioning of these banks and driving them towards following the best global banking practices.
Once this transition takes place, investors would be glad to chase PSBs shares and enable the government to recover its cost plus profit. 

bob,-boi-and-canara-bank-get-new-md-&-ceo

BOB, BoI and Canara Bank get new MD & CEO

By IndianMandarins 20 Jan 2020

The NaMo administration on Monday appointed Sanjiv Chadha (DMD, SBI), as Managing Director and Chief Executive Officer, Bank of Baroda for a period of three years.

Lingam Venkata Prabhakar (ED, PNB) as Managing Director and Chief Executive Officer, Canara Bank whereas Atanu Kumar Das (ED, Bank of India) was appointed as MD & CEO Bank of India for a period of three years.

merger-process-of-ten-banks-in-advance-stage

Merger process of ten banks in advance stage

By IndianMandarins 17 Dec 2019

Ten banks involved in the merger are understood to be in advanced stages of due diligence with just over three months left to complete the process of consolidation of PSBs. This was announced by finance minister in September.

PNB, Union Bank of India, Canara Bank and Indian Bank will acquire six smaller nationalised banks. Given the amount of the additional provisioning burden that the merger process may entail, it is expected that the upcoming Budget may provide for another round of recapitalization.

In order to estimate the amount of capital required by these banks, which the government may have to pump in, the due diligence process has been put on fast track. Audit and consultancy firm PwC has been appointed by Canara Bank, while Indian Bank has appointed KPMG to conduct due diligence. Deloitte has the mandate from PNB and Union Bank. All banks lined up for consolidation have been asked to meet the December 31 deadline to complete due diligence.

banks-hiring-in-the-time-of-economic-slowdown!

Banks hiring in the time of economic slowdown!

By IndianMandarins 18 Nov 2019

If there is bad news about Indian economy slowing down, there is something to cheer about too as banks have not reduced hiring rather hiring more. Banks backed by technology are expanding the branch network resultantly adding more to the workforce.
There have been reports from many banks including Axis Bank, Federal Bank and many more that they are hiring more and more people. They have hired six times more of employees this financial year as compared to the last year. Going forward, some of the banks are expanding their branch network; therefore, they will need more people at different levels, with specific skill sets. They are investing in workforce backed with technology including use of artificial intelligence to identify the right candidate.

govt-appoints-mds-ceos-in-ten-nationalised-banks

Govt appoints MDs CEOs in ten nationalised banks

By IndianMandarins 19 Sep 2018

The NaMo administration, on Wednesday, cleared the appointment of 10 MDs & CEOs of state-owned banks of which 05 are working as Deputy MD in SBIs. Those appointed to the posts are;

  • Mrutyunjay Mahapatra (DMD, SBI) appointed MD & CEO of Syndicate Bank for a tenure ending May 2020.
  • Padmaja Chundru (DMD, SBI) appointed MD & CEO of Indian Bank for tenure ending Aug 2021.
  • Pallav Mohapatra (DMD, SBI) appointed MD & CEO of Central Bank of India for a tenure ending Feb 2021.
  • J Packirisamy (DMD, SBI) appointed MD & CEO of Andhra Bank for a period ending Feb 2021.
  • Karnam Shekhar (DMD, SBI) appointed MD & CEO of Dena Bank for a tenure ending June 2020.
  • Ch. S S Mallikarjuna Rao (ED, Syndicate Bank) appointed MD & CEO of Allahabad Bank for a period of 03 years which may be  extendable till retirement in January 2022.
  • A S Rajeev (ED, Indian Bank) appointed MD & CEO of Bank of Maharashtra for a tenure of 03 years (w.e.f 01.12.2018) which may be extended till retirement in May 2024.
  • Atul Kumar Goel (ED, Union Bank of India) appointed MD & CEO of UCO Bank (w.e.f 02 November 2018) for a period of 03 years which may be extendable up to 02 years.
  • S Harisnakar (ED, Allahabad Bank) appointed MD & CEO of Punjab & Sind Bank
  • S S Mallikarjuna Rao (ED, Syndicate Bank) appointed Allahabad Bank for a period of three years which may be extended till Jan 2022.
  • Ashok Kumar Pradhan (ED, United Bank of India) appointed MD & CEO of United Bank of India (w.e.f 01.10.2018) for a period ending May 2020.

padmanabhan-continues-with-bank-of-india

Padmanabhan continues with Bank of India

By IndianMandarins 13 Aug 2018

Gopalaraman Padmanabhan re-nominated to the post of Non- Executive Chairman of Bank of India for a period of two years w.e.f. August 14, 2018.

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