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BoB
brand-building to mirror IT-savvy business strategy
Mumbai: The 95-year old Bank of Baroda (BoB) is
going in for a major brand-building exercise to reflect
its new technology-enabled business strategy. BoB has
also decided to outsource the plan. The brand-building
exercise is under BoB's umbrella plan of converting itself
into a technology bank. The bank is in the process to
transform and position itself as a modern technology player
with international standards. The focus of the exercise
will be on the form, shape and colours of the new brand
while BoB has no immediate plans to change its current
logo.
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ISO
certification for Union Bank training centres
Mumbai: Union Bank of India is expected to get
ISO 9001-2000 certification for all its seven staff training
centres across the country by November this year. In fact,
plans are under way to certify an additional 150 of the
bank's branches by the end of this fiscal. Last month,
the bank has received the ISO 9001-2000 certification
for 64 branches and three extension counters across the
country. Union Bank of India has a total branch network
of 2,020. Bank officials said, they had some internal
criteria for the selection of branches to be certified.
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Sri
Visakha Bank sets target of Rs 1,000 crore
Visakhapatnam: Sri Visakha Grameena Bank has set
the target of touching the Rs 1,000-crore mark (Rs 576
crore in deposits and Rs 424 crore in advances) by the
end of current financial year, the bank Chairman, M.V.R.
Sainath Rao, has said. At a press meet here on Saturday,
he said the bank would focus on linking all self-help
groups by financing Rs 29 crore and reducing the net non-performing
assets (NPA) by Rs 2 crore despite the severe drought
conditions.
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Andhra
Bank spl counters to replace notes
Hyderabad: Andhra Bank, the Hyderabad-based public
sector bank, has announced that it has decided to open
special counters, jointly with the Reserve Bank of India,
to exchange soiled/ defective notes and also to distribute
coins. In a press release here, the bank said these counters
would be open from May 5, 2003 to May 16, 2003 and would
operate through mobile vans stationed at five main places
in the twin cities of Hyderabad and Secunderabad daily
from 10 am till 2 pm during this period.
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RBI
warns 2 public sector banks to clean note policy
Mumbai: The Reserve Bank of India has threatened
to cancel the currency chests of two public sector banks
if they fail to follow its directives on `clean note policy.'
According to a senior RBI official, surprise inspections
conducted by the RBI revealed that these banks were not
adhering to its directives prohibiting stapling of currency
notes. These banks were put on notice, RBI officials said.
The RBI had prohibited stapling of currency notes and
also issuing soiled notes to public under Section 35 of
the Banking Regulation Act.
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Indian
Bank net zooms to Rs 188.8 crore
Chennai: Indian Bank has reported a net profit
of Rs 188.83 crore for the year ended 2002-03, against
Rs 33.22 crore for the previous year - a nearly six-fold
increase. The bank's operating profit also increased to
Rs 590 crore, compared to Rs 307 crore in 2001-02 - an
increase of 92.17 per cent.
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