List of Regional Rural Banks (RRBs) in India

As of June 2014, there are 62 RRBs in India. The number has significantly reduced due to amalgamation of several RRBs. Uttar Pradesh, Andhra Pradesh, Bihar, Karnataka have some of the largest RRBs in India with highest number of branches. Statewise RRBs along with number of branches are provided in the table below. State Name Regional Rural Bank Name Branches Andhra Pradesh Andhra Pradesh Grameena Vikas Bank 543 Andhra Pragathi Grameena Bank 445 Chaitanya Godavari Grameena Bank 131 Deccan...
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Banking News

Is Proposal for Merger of PSU Banks Appropriate?

We come across various reforms made in banking industry very frequently and this time its something big to to made which will make the country’s biggest state-run banks to create much stronger financial institutions. In the recent talks which is taking place in finance ministry over merger and acquisition of smaller public sector banks by their larger peers. The reason behind this debate is that there is significant overlap among various state-owned banks in terms of branches, mode of operation and clients....
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Will Increase in Banks Create New Jobs?

RBI’s decision to allow new players in the banking sector has received a big thumbs up from Indian industry according to the article  published in one of the leading newspaper. This will not only increase the employment opportunities in the banking sector but will also induct new processes and technology, improve efficiency, enlarge the capital base to meet the credit needs of the economy. This decision of RBI comes out with a good news for bank jobs aspirants. But some questions...
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IBPS may conduct Common Interview for June 17, 2012 CWE PO Candidates

Banks are one of the biggest recruiting agencies in the country as it hires for its posts from almost all the streams. But the Recruitment and selection process is a hectic task for Banks as well as for the Candidates. But don’t worry Public sector banks are planning common interview for jobs to make the selection process much easier. IBPS discussed with the Indian finance minister that aspirants those who will clear out the IBPS common written exam (CWE)...
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20,000 Vacancies Upcoming In State Bank of India Next Year

State Bank of India (SBI),Country’s largest banking and financial services company in India by revenue, assets and market capitalisation. It is a state-owned corporation with its headquarters in Mumbai, Maharashtra. The Bank  is set to hire 20,000 staff across both the officer and clerical cadres over the next one year, reports the Hindu Business Line. Public sector bank SBI had 214000 employees on its rolls as of June 2012. As of June this year SBI had 80,329 officers and 95,018 clerks on its rolls. The...
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Impact of Rupee Depreciation

The rupee has depreciated by more than 18 percent since May 2011, moreover with the rupee breaching the 53 dollar mark, profit margins of companies that import commodities or components would come under severe pressure, which could result in price increases for the consumer. The rupee depreciation will particularly hit the industrial sector and put higher pressure on their costs as items like oil, imported coal, metals and minerals, imported industrial intermediate products all are getting affected. Although the...
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SBI to Get Capital Infusion By March 2012

State Bank of India said that Union Finance Ministry has assured that the bank would be adequately capitalized by March 2012, however, the route to re-capitalise it has not been decided yet. Whether it would be a rights issue, preferential or QIP route is still not decided. The Government is the largest shareholder of the bank with 59.4% holding. Chaudhari said that the government has to take a call on what level of ownership it wants to maintain in the bank. If...
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SBI Ties-Up with ECGC to De-Risk Export Credit Portfolio

State Bank of India has said that it has de-risked its Rs 30,000 crore export credit portfolio by entering into a tie-up with Export Credit Guarantee Corporation. The export credit defaults of SBI will be guaranteed by ECGC and capital requirement for this portfolio shall drop by 80%. Currently the risk weightage for this portfolio is 100% and by going with ECGC, it will drop to 20%....
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ICICI Bank Q2 Financial Results

The key highlights of the ICICI Bank Q2 Results – ICICI Bank has announced a 43% rise in consolidated profit in the September quarter, riding on demand for loans from companies and strong earnings growth at its life insurance subsidiary. Consolidated net profit increased to Rs.1,992 crore, beating Bloomberg’s estimate of Rs.1,424 crore. Earnings per share rose to Rs.13 from Rs.11 last year. On a standalone basis, profit rose 22% to Rs.1,503 crore from Rs.1,236 crore last year. The...
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Karur Vysya Bank and SBI Cards May Tie Up for Credit Cards

Karur Vysya Bank and SBI cards are likely to enter into a deal and launch co-branded credit cards for customers. The information was shared by CEO of SBI Cards, Mr Kadambi Narahari. He also said that SBI Cards is soon planning to come with its signature brand cards...
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SBI to get Rs 8,500 cr this year as capital infusion

The State Bank of India  is expected to get Rs 8,000-8,500 crore during the current fiscal. This amount is likely to be given through various instruments such as preferential shares. Once its capital base is augmented, SBI can go for a follow-on public offer or a rights offer which can be done only after this fiscal. The effort is to see that not just SBI but all the banks have 9 per cent of Tier-I capital under Basel-III norms. These norms...
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Banking News

Latest Base Rates for banks in India

Base Rate Comparison of Banks in India All public and private sector banks are using the new base rate regime. The base rate is the minimum rate that a bank will lend money to anyone. Think of it as a floor below which RBI will not allow banks to lend to you. The latest increase in the interest rates by RBI has forced major private banks like ICICI, Axis Bank, HDFC and also PSBs like SBI, PNB, CBI, BoB...
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RBI increases Repo Rate to 8%

RBI has yet again increase the policy rates. * Repo Rate hiked by 50 bps to 8%, effective immediately * Reverse Repo Rate adjusts 50 bps higher to 7% * Cash Reserve Ratio kept unchanged at 6% All bank related interest rates can be seen here – http://banks-india.com/banking-system/bank-related-rates/ MAIN HIGHLIGHTS * Retains FY12 GDP growth projection around 8% * Ups Mar-end inflation projection to 7% vs 6% earlier * Inflation to remain elevated for “few more months” * Cuts...
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List of ASBA Banks

SEBI has introduced a supplementary process for applying in IPOs (Initial Public Offerings) through ASBA (Applications Supported by Blocked Amount) process which is now mandatory process for Non-Retail applications. If you are looking on how to apply for IPO using ASBA then you can visit here for step wise application process. Meaning of ASBA: ASBA is an application for subscribing to an issue, containing an authorisation to block the application money in a bank account. Self Certified Syndicate Bank...
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