IOB to absorb 75% employees of Shree Suvarna Sahakari Bank

The Indian Overseas Bank will absorb 75% of the 340 employees of the failed Shree Suvarna Sahakari Bank (SSSB), an urban cooperative bank, once the takeover is completed on April 15. The rest have either taken voluntary retirement or have been denied absorption as they are facing criminal investigations. All the employees will be inducted at the base level that is the level of the fresh recruits. IOB chairman and managing director SA Bhat said the public sector bank will open branches at the 12 existing locations of SSSB’s branches, nine of which are in Pune.

National Award For Canara Bank

Canara bank has won three national awards at the PRCI Awards 2009. Bank's House Journal won the gold Corporate Collateral Award. Bank has also won two silver Corporate Collateral Awards for best corporate ad and best corporate film