Bank staff to go on strike on Aug 1
New Delhi: The All India Bank Employees Association (AIBEA) has called for a day's token strike of all banks across the country on August 1 to protest against the proposed outsourcing of banking services by the Reserve Bank of India.

The RBI has issued a circular permitting banks to outsource all banking services to private agencies on commission and contract basis. Outsourcing would include services such as opening bank accounts, cash withdrawal, issuance of draft and sanction and disbursement of some loans. The bank union said there were over one lakh vacancies in various private and public sector banks which should be filled up instead of allowing outsourcing.
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SBI chief sees no pressure on rates
Mumbai: The new State Bank India chairman Om Prakash Bhatt said he did not see any upward pressure on interest rates as of now in the wake of a comfortable liquidity position.

He said the liquidity condition was comfortable and he did not see any upward pressure on interest rates now, though the rates would not come down. He said the bank would take a call on reviewing rates only after seeing the Reserve Bank of India (RBI) move in its forthcoming quarterly review of the monetary policy.

Bhatt said State Bank aimed to record 17 per cent hike in deposit base as against 13 to 14 per cent last year. He said the bank aims to increase its market share in terms of business to 19 per cent in the next two years from 17 per cent now. SBI as a group enjoys 25 per cent market share in the country, he added.

The SBI chairman said he also would like to see all four (out of seven) unlisted subsidiaries of the State Bank listed on the bourses.
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Sidbi unveils new plan to unlock value to shareholders
Mumbai: The Small Industries Development Bank of India (Sidbi) is coming out with a plan to unlock the value of its shareholders.
Sidbi chairman and managing director N Balasubramanian said it would take another 15-20 days to come out with a concrete plan.

The Industrial Development Bank of India (IDBI) holds 19.21 per cent stake Sidbi, while the rest is held by banks, financial institutions and insurance companies that are owned and controlled by the Union government. Sources said Sidbi can unlock shareholders value by getting its shares enlisted in the market or through rights issue or private placement.

Established in April, 1990 under the The Small Industries Development Bank of India Act, 1989, Sidbi was aimed to be the principal financial institution for the promotion, financing and development of industry in the small scale sector.
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