Vysya Bank sheds staff by 15%
Mumbai: Vysya Bank has managed to shed its employee strength by around 15%, ahead of the Dutch financial services group ING acquiring management control of the private bank.
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Creit Agricole cuts 30% Indian operations staff
Mumbai: Credit Agricole Indosuez, the international wholesale banking and capital markets arm of Credit Agricole, has cut staff at its Indian operations by over 30 per cent. The French bank recently concluded a voluntary retirement scheme, which found 28 takers. It now has only 59 employees on its rolls. The VRS was offered through two schemes.
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Banks urged to consider ESOP
New Delhi: A fresh round of reform initiatives in human resources management in public sector banks appears to be on its way, with the central government asking the banks to examine the feasibility of implementing fresh changes.
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Bonds placement falls short of target
Mumbai: Despite the increase in liquidity, the Reserve Bank of India did not find it easy to make placements. The floating rate security devolved partially since there was a wide margin in spread expectation between the markets. Consequently, only Rs 2,800 crore could be placed instead of the targeted Rs 3,000 crore.
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Banks begin homework to sell NPAs post-ordinance
Mumbai: Public sector banks have begun segregating their accounts under various heads in anticipation of Reserve Bank of India guidelines under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance, 2002.
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IRDA to share its funds with public accounts
New Delhi: The deadlock over custody of funds accruing to the Insurance Regulatory and Development Authority has finally been ended.
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