Recruitment

Career opportunity at an emerging new generation bank YES Bank, for more information visit www.yesbank.in sub link Human Capital sub link Carrers OR http://www.yesbank.in/careers_sme.html

Recruitment

The Dhanalakshmi Bank Limited A leading profit making private sector bank with an all india network of 181 branches and business of around Rs.4500 crores requires for its expansion plans, officers in the Senior/Middle Management cadres for the following positions for its offices across the country. Designation Scale Chief Financial Officer --V/VI Zonal/Dept Head --V/VI Cost accountant -- III/IV Marketing officers -- I/II/III/IV Branch Heads -- II/III/IV Credit Officers -- II/III IS Audit Officers --II/III For more details kindly visit www.dhanbank.com

Bank Stock News

Lakshmi Vilas Bank-interview with CEO Mr.R.M.Nayak Business Line (08.11.2006) Karur headquartered Lakshmi Vilas Bank (LVB) has entered its 81st year of existence on November 3. The bank, as its chairman and CEO, Mr. R.M.Nayak, recalls has risen in strength and stature from a humble beginning with a modest capital of Rs.70,000 in 1926 to a 'vibrant' private sector bank with a network of 232 branches across 10 states and one Union Territory. "Our strategy has been two pronged, to broaden our reach in retail business by gaining a footprint in emerging geographies and deepening our existing relationship by bundling and cross-selling financial and insurance products under one roof. Our future plans are aimed at achieving volume led growth, improving operational efficiency and strengthening risk management efforts. We ultimately intend to have a tight business focus, enhance our brand image, have a strong customer orientation and achieve operational efficiency through the power of technology," he said. Excerpts from the interview; What have you envisioned for the bank as it crossed this milestone ? We aim to emerge as one of the top old generation private sector banks with strong fundamentals, be a proactive, socially responsible and professionally managed organisation with customer orientation and deliver services on the powr of technology. To commemorate this occasion, a month long customer-contact programme and new product launches are being organised. We have been taking strategic initiatives to strengthen the operational efficiencies across the organisation. The HR initiatives include promotions and recruitment, and skill enhancements through lateral induction in specialised areas of operation. Policy initiatives are oriented towards serving our customers effectively and efficiently. Our technology initiatives include launch of Core Banking Solution at five select branches on a pilot basis before end-November and extension of the same across 150 branches in about a year's time. In the second phase, all the remaining branches will be brought under CBs. How do you propose to strenghten your brand image ? To spread the message that the bank is changing with the times and as a part of branch building and image makeover exercise, we have adopted a new logo, which represents deep cultural values of the bank, an image of solidarity and strong convictions, even as it stands on the threshold of change. In our bid to project the bank's philosophy of 'wealth to every one associated with LVB', we have unveiled the new logo. The red-coloured base symbolises stability and goodness. The image of goddess Lakshmi embossed on a circle of ochre gold represents riches on the foundation of trusted values together with modernity and an ever-evolving change. The graphical rendition of gold coins reflects prosperity in a modern form. At this juncture, smaller banks are the picks for the bigger players to grow in size quickly and easily. How do you propose to combat this threat and establish a niche in the market place ? Though size is one of the factors that provide competitive edge, the fact that on the face of competition from financial conglomerates, small sized banks continue to operate profitably underscores the point that size does not matter at all times. This apart, expanding market and growing income levels have increased the niche market size and portend an active and more prominent role for the bank to play in the future.

News

Corporation Bank hikes NRE and FCNR(B) rates The changed rates are effective from 01.11.2006 Rates on NRE deposits: Deposit for one year to less than two year-----6.34% Deposit for two year to less than three year------6.17% Deposit for three year to 10 years---------6.11% Rates on FCNR(B) deposits: Deposit currency Dollar Deposit for one year to less than two year----5.34% Deposit for two year to less than three year----5.17% Deposit for three year to less than four year-----5.11% Deposit for four to less than five years--------5.11% Deposit for five years-----5.12% Lakshmi Vilas Bank, South Indian Bank and Central Bank of India have also revised their rates on the same lines.

News

Two more co-operative banks under moratorium The Reserve Bank of India has placed two more UCBs ( Urban Co-operative Banks ) , Parivartan Cooperative Bank and Miraj Urban Cooperative Bank, under moratorium following run on deposits. Parivarthan Cooperative Bank is a Mumbai based UCB, while Miraj Urban Cooperative Bank is in Miraj near Kolhapur. Depositors of these two banks will be allowed a one-time withdrawal of Rs.1000. A bank has also been imposed on lending. Development Credit Bank raises deposit rates The bank has raised interest rates on term deposits of below Rs.15 lakhs. The rates on 46-87 days have been revised to 6% per anum ( 4.75%) and on deposits for 88 to 177 days it has gone up to 7% per anum ( 6% ). For deposits of 178 to 237 days, the rates have been revised to 8.08% pen anum ( 6.50% ).

Recruitment

Andhra Bank invites application for the post of Clerks Last date for receipt of application : 18.11.2006 Tentetive date for exam : 21.01.2007 Vacancies : 128 Statewise vacancies: Delhi-6, Uttar Pradesh-3, Madhya Pradesh-5, Goa-4, Gujarat-6, Kerala-4, Orissa-25, Uttaranchal-4, Punjab-5, Rajasthan-6, Andhra Pradesh-60. Reservation: Unreserved-69, SC-16, ST-14, OBC-29 ( Visually Handicap-3, Hearing Impairment-1, Ex-servicemen-18) Qualification: Pass in (10+2) examination or its equivalent Age: Min 18 years / Max 28 years Written test pattern: a) Objective type tests 1. English Language 2. Test of Numerical Ability 3. Test of Reasoning 4. Test of Clerical Aptitude b) Descriptive Test Written Test Centre: New Delhi,Lucknow,Bhopal, Panaji, Ahmedabad, Ernakulam, Bhubaneswar, Dehradun, Chandigarh, Jaipur, Hyderabad, Vishakapatnam, Vijaywada, Tirupathi, Nizamabad, Karimnagar, Rajamundry, Kurnool. For more information: www.andhrabank-india.com Employment News dated 28 Oct to 3 Nov 2006

Recruitment

Andhra Bank invites applications for the Specialist Officer posts in MMGS-III, MMGS-II and JMGS-I Last date for receipt of application : 18.11.2006 Late date for receipt of application from far flung areas : 24.11.2006 Tentetive date for examination JMGS-I : 28.01.2007 01. Post :Financial Analyst Grade: MMGS-III Scale of Pay : Rs.18240-22280 Vacancies : 15 Age : min 21 years/ max 35 years Reservation : Unreserved-9, SC-2, ST-1, OBC-3, Visually Handicap-1 Qualification: MBA(finance) / PGDBM(finance) / ICWA / ACS / CA / CFA or any other equivalent degree Experience: Minimum of 5 years experience in credit department of a commercial bank in officer cadre. 02. Post : Law Officers Grade : MMGS-II Scale of Pay : Rs.13820-19920 Vacancies : 15 Age : min 21 years / max 35 years Reservation : Unreserved-7, SC-2, ST-2, OBC-4, Visually Handicap-2, Orthopaedically Handicap-1 Qualification: Graduate Degree in Law (3 year or 5 year integrated course) with minimum 50% marks from a recognised University Post Graduate Degree in Law will be preferred ( In case of SC/ST and Persons with disability they should have a minimum of 40% marks) Experience: a) Active practice at the Bar for 5 years or as Law Officer in legal department in a commercial bank / financial institution with a minimum of 5 years, of which a minimum of 2 years should be as an Active Practicing Advocate. b) The Active practice should be with special reference to Banking. c) The candidate should also have exposure in Documentation, Title Scrutiny, Debt Recovery, Securitisation, Reconstruction of Financail Assets, Arbitration and work related therefor. 03. Post : Information Technology Officer Grade : MMGS-III Scale of Pay : Rs.18240-22280 Vacancies : 15 Age : min 21 years / max 35 years Reservation : Unreserved-7, SC-2, ST-1, OBC-5, Visually Handicap-1 Qualification : BE / BTech / ME / MTech / (Computer Science/IT) / MCA / MSc (Computer Science/IT) Experience : Minimum of 5 years experience as officers in IT environment in Banks/Financial Institutions & Working knowledge in Core Banking implementation, Oracle, Networking, Web based systems, Mail messaging, Systems Security is desirable. 04. Post : Information Technology Officer Grade : MMGS-II Scale of Pay : Rs.13820-19920 Vacancies : 25 Age : min 21 years / max 35 years Reservation : Unreserved-15, SC-3, ST-1, OBC-6, Visually Handicap-2, Orthopaedically Handicap-1 Qualification : BE / BTech / ME / MTech / (Computer Science/IT) / MCA / MSc (Computer Science/IT) Experience: Minimum of 2 years experience as officers in IT environment in Banks / Financial institutions & working knowledge in Core Banking implementation, Oracle, Net Working, Web based systems, Mail messaging, Systems security is desirable. 05. Post : Information Technology Officer Grade : JMGS -I Scale of Pay : Rs.10000-18240 Vacancies : 35 Age : min 21 years / max 30 years Reservation: Unreserved-18, SC-8, ST-3, OBC-9, Visually Handicap-2, Orthopaedically Handicap-1 Qualification : BE / BTech / ME / MTech / (Computer Science/IT) / MCA / MSc (Computer Science/IT) Experience: Not essential Selection Procedure: a) Information Technology Officer (JMGS-I) The selection will be made on the basis of performance in written test and/or group discussion and/or interview. b) Financial Analyst (MMGS-III), IT Officer (MMGS-III), IT Officer (MMGS-II), Law Officer (MMGS-II) The selection will be made on the basis of group discussion and/or interview. Written test pattern for IT officer (JMGS-I) a) Objective Type Test 1. Test of General Awareness 2. English Language 3. Quantitative Aptitude 4. Test of Reasoning 5. Subject Knowledge (area of specialisation) b) Descriptive Test in the area of specialisation. Test Centres: for IT Officer (JMGS-I) New Delhi, Kolkata, Mumbai, Chennai, Hyderabad, Bangalore, Bhubaneswar, Ernakulam, Vishakapatnam, Vijaywada. For more information www.andhrabank-india.com Employment News dated 28 Oct - 3 Nov

Result Update

Karur Vysya Bank The bank has reported 54.76% jump in net profit for the quarter ended September 2006 at Rs.42.56 crore ( Rs.27.50 crore). While the deposits grew by 27.47% advances grew by 25.77%. The capital adequacy ratio of the bank stood at 14.51%. The net NPA stood at 0.49%. UCO Bank The bank has shown flat net profit at Rs.100.69 crore for the quarter ended September 2006 as against Rs.97.88 crore for same period last year. While the gross NPA stood at 3.36% the net NPA stood at 2.02%. The capital adequacy ratio stood at 12.89%. Total business stood at Rs.97,565 crore. Deposits stood at Rs.56,800 crore and Advances stood at Rs.40,765 crore.

Important Events

Mid-term review of Monetory Policy 2006-07 No change in bank rate, CRR and Reverse Repo rate. Repo rate (the rate at which RBI lends money to banks) increased to 7.25% from 7%. Resident individuals would be free to remit upto US$50,000 per financial year as against the earlier limit of US$25,000. The present facility of $10,000 per year for private travel will continue on a self-declaration basis. All Foreign exchange earners may retain upto 100% of their foreign exchange earnings in their Exchange Earners' Foreign Currency Accounts (EEFC). GDP growth forecast at around 8% during 2006-07. Inflation to be contained within 5 to 5.5% during 2006-07 Banks can borrow from their overseas branches and correspondent banks upto 50% of their unimpaired Tier-I capital or $10 million, whichever is higher, as against the earlier limit of 25% . This includes borrowings for financing export credit, ECBs and overdrafts from their head office or nostro accounts. The earlier limit of 25% was excluding borrowing for export credit now this has also been caped. Corporates can raise an extra $250 million in external commercial borrowings (ECB) over the existing limit of $500 million under the automatic route, in a financial year Prepayment of ECBs upto $300 million (earlier cap of $250 million) without reference to the central bank has also been okayed. To help indian companies move abroad, the RBI has lifted the limit on credit and non-credit facilities extended by banks from 10% to 20% of their unimpaired capital. Mutual funds can now invest $3 billion (earlier $2 billion) overseas.

Result Update

State Bank of India The net profit of State Bank of India has fallen marginally by 2.53 % to Rs.1,184.49 crore for the second quarter ended September 30 compared to Rs.1,215.36 crore for same period last year. The decline in profit is attributed to higher tax provision and also the bank did not enjoy the benefit of interest on income-tax refund at Rs.712 crore, available last year. The deposits increased by 10.77% to Rs.3,92,615 crore and advances increased by 21.18% to Rs.2,88,840 crore. The capital adequacy ratio stood at 12.63%. The ratio of net NPA to total asset stood at 1.67%. Bank of Baroda

The net profit of Bank of Baroda increased 11.31% to RS.288.36 crore for the second quarter ended September 30 compared to Rs.259.07 crore for the same period last year. The Net NPA of the bank stood at 0.77% while gross NPA stood at 3.44%. Capital adequacy ratio of the bank stood at 12.93%. Total business has grown 32% (yoy), Advances has grown 45%(yoy).

Under international operations the bank is having 60 offices in 21 countries. The international operations account to 18% of total bank's business and 36% of bank's net profit. The internatioanl operations deposits has grown 60%, advances 51% year on year .

Karnataka Bank

The bank has recorded a net profit of Rs.59.61 crore for the second quarter of current financial year registering a growth of 42.57 % compared to profit of Rs.41.81 crore for same period last year. The net NPA of the bank stood at 1.48% compared to 1.73% last year. The capital adequacy ratio stood at 12.25%..

Indian Bank

The bank has reported a 60% rise in net profit at Rs.169.19 crore (Rs.105.57 crore) for the quarter ended September 30. The Total Business grew 21.06% to Rs.70,317 crore. Total Deposits grew 16.4% to Rs.44,124 crore (Rs.37,907 crore) and Advances grew 29.81 % to Rs.26,193 crore (Rs.20,177 crore). The net NPA have declined to 0.45%. The capital adequacy ratio stands at 12.02%.

The bank is planning to enter capital market and issue its shares to public at hefty premium during November this year.

YES Bank

This bank has reported 50.8 % growth in net profit for the second quarter ending September at Rs.21.49 Crore (Rs.14.25 crore). The capital adequacy ratio of the bank stood at 11.98%. The bank is having 0% NPAs.

Oriental Bank of Commerce

The bank has reported a net profit of Rs.310.75 crore for the quarter ended September 30, up 37.2% over the corresponding figure of Rs.226.51 crore for the previous fiscal.

After writing-off Rs.61.24 crore against liabilities on account of the amalgamation with Global Trust Bank, OBC's net profit for second quarter stood at Rs.249.51 crore , 51% more than Rs.165.27 crore for same period last year. The increased overall profit has come mainly from good cash recovery in NPA assets. The gross NPA has been reduced from 7.9% to 4.8% at Rs.1,848.62 crore. The net NPA has been reduced from 0.8% to 0.5% at Rs.171.01 crore. The capital adequacy ratio stood at 13.34%. The total business of the bank grew 24% to Rs.98,432 crore.

Indian Overseas Bank

The bank reported a net profit of Rs.249.98 crore for the quarter ended September 30, up 25% compared to Rs.198.49 crore for same quarter previous fiscal. Total deposits increased by 20.31% to Rs.57,018 crore and advances increased by 40.28% to Rs.41,141 crore. The low cost deposits (current and savings bank) accounts for 37.66 % of total deposits. While the gross NPA stood at 2.96%, net NPAs stood at 0.57%. Capital adequacy ratio stood at 14.66 %.

Syndicate Bank

The bank reported a net profit of Rs.205 crore for the quarter ended September 2006, up 17% compared to Rs.175 crore for same period last fiscal. Total deposits grew by 51% to Rs.71,065 crore (Rs.47,144 crore). Total advances grew by 48% to Rs.46,168 crore (Rs.31,149 crore). While gross NPA stood at 3.67%, net NPA stood at 0.89%. The capital adequacy ratio stood at 11.74%.

Punjab National Bank

The bank's net profit has risen 19.7% to Rs.505 crore for the quarter ended September 2006, as against Rs.422 crore for the corresponding quarter of last fiscal. The total business of the bank stood at Rs.2,10,755 crore. The deposits grew 17.4% to Rs.1,28,415 crore and advances grew 28.9% to Rs.82,340 crores. The low cost deposits (Current and savings bank) accounts for 48.7% of total deposits. The net NPAs stood at 0.18%.

Class Room

Compensation for delayed payment to VRS optees In an interesting judgement in the legal history, District Consumer Forum, Chennai North, has directed Indian Bank to pay a compensation of Rs.15,000/- each to 144 VRS optees for the delayed payment of pension commutation. The forum has passed the order armed with a directive from a division bench of Madras High Court to adjudicate the issue based on merits and on the points raised before the forum including the question relating to jurisdiction. The ex-employees of the bank opted for the VRS 2000 scheme and retired from service and were relieved on different dates. Their main complaint was that after lapse of few months, the commutation of pension amount was given to them, for which the bank had not paid any interest. The disbursement of reduced pension after few months had caused mental agony and sufferings. Initially, when they moved the forum, it was resisted by the bank arguing it had no jurisdiction since it was a dispute between an employer and employee. The forum also closed the complaints after a single judge of Madras High Court held that it has issued notice without jurisdiction. Later, a division bench of the High Court directed the forum to decide all cases on merit. By complying with the direction and taking into consideratin all factors, the forum came to the justifiable conclusion that it got jurisdiction to adjudicate the dispute. After hearing the points advanced by the parties, it held that the complainants are consumers as contemplated in the consumer protection act 1986 and the dispute raised by them falls under the definition of "consuemer dispute". The Economic Times (26.10.2006)

Classroom

Payment by cards ? Exercise Caution !!!!!!!!!!!!!!! There are many technologically innovative products, services and delivery channels being launched and widely made use of in the banking domain. One of these options being marketed extensively is the various multi-utility branded cards which includes the credit and the debit cards. These co-branded cards apart from being used in the ATMs are also used at POS terminals (point of sale). The next time you decide to use your credit card on a shopping trip, think again. There was a news item that appeared in the Times News Network recently titled " 4 held for siphoning off plastic cash". The Mumbai police have busted a hi-tech credit card fraud which could be the crime of the future. Four gadget savvy youngsters, two of them software engineers, got together to earn some quick bucks and ended up siphoning over Rs.3 lakh. According to the police, the mastermind of the gang was a 19 year old who realised that if credit cards were swiped though a portable magnetic card reader, the personal data of the customer stored on it could be accessed. He then teamed with another 19 year old, and ordered the card reader from USA, through the internet, since the same was not available in India. These boys befriended a waiter at a hotel to take their plan ahead, Every time someone paid by credit card for food in that hotel, the waiter would discreetly swipe it through the magnetic card reader, which is no more than 6-inches long and can be stored in the pocket. Once the job is done, the waiter would hand over the device to the fellow fraudsters who would download the data from the cards onto a personal computer. The duo would then feed the data into blank cards, available in the grey market making them ready for use in shopping malls or to withdraw money from ATMs. Portable magnetic card reader can store data from about a dozen cards which are swiped through it. What care do the ordinary card users need to take in this regard? The best thing that could be done is to ensure that the cards are swiped in the cardholder's presence. This can be ensured in most of the POS payments like shopping malls, automobile fuel stations etc. However, it could be difficult in the payment of hotel food bills where the practice generally followed is that the cards are handed over for swiping to the waiters along with the bills and received back along with the payment slip for signature. Probably the best thing to do in this case is to exercise prudence and hand over the cards for payment only at the cash counter/card swiping activity is visible. Yet another check would be that since most of the credit card liabilities statements are availabel online in the repective websites, periodic checks on the transactions posted would give an assurance that no unauthorized transactions are raised in the accounts. Needless to mention, the purpose of this article is not to instill any undue fear in the usage of the cards but to convey to you to exercise caution and prudence while transacting with cards.

News

IndusInd Bank launches "Indus Gold Debit Card" IndusInd Bank has launched "Indus GOLD Debit card " in association with VISA at an annual fee of Rs.350 plus service tax. The card has a daily withdrawal limit upto Rs.50,000 from the ATMs, said a press release from the bank. It has a daily POS (point of sale) limit of Rs.1 lakh, personal accident insurance of Rs.1 lakh and lost card liability up to Rs.1 lakh. The customers will receive free transactions on any VISA ATMs in India and mobile alerts on every transaction.

Result Update

Bank of India The bank has reported 61% jump in its net profit to Rs.212.13 crore for the quarter ended September 2006 as against Rs.132.18 crore for same period last fiscal. The net NPA is brought down to 1.07% from 2.25%. The total deposits moved up 20% to Rs.1,03,293 crore from Rs.85,856 crore. Advances grew 24% to Rs.75,097 crore from Rs.60,614 crore. The low cost deposits (Current and Savings) constitute 40.4% of aggregate deposits. The capital adequacy ratio stands at 11.85%.

Bank Stock News

Development Credit Bank (DCB) lists with bang The bank which came out with IPO recently got listed on Friday. Although most brokerage houses and papers gave "avoid" rating to IPO, it listed with a bang. The stock, which was issued at a price of Rs.26, quickly climbed up after the opening bell to an intraday high of Rs.48.7 and eventually closed the day at Rs.47.5, a gain of 82.5%. The stock raked up a first day trading turnover of Rs.368 crore and a total of 8.19 crore shares changed hands.

Result Update

Andhra Bank The bank has reported a net profit of Rs.146.44 crore for the quarter ended September 2006, a growth of 10.19% compared to Rs.132.89 crore for same period last year. The gross NPA is reduced to 1.76% from 2.27%. The Net NPA is reduced to 0.10% from 0.26%. The total Business stood a Rs.56,113 crore registering a growth of 14.47% from Rs.49,021 crore in the corresponding quarter of previous fiscal. The advances improved by 23.22% to Rs.23,600 crore while deposits improved by 8.85% to Rs.32,513 crore. Explaining the slowdown in deposits growth, the bank said it has discouraged bulk deposits and focussed more on retail deposits to reduce cost of deposits and improve net interest margin. Corporation Bank The bank reported a net profit of Rs.127.01 crore for the second quarter of this fiscal reporting a growth of 20% compared to Rs.105.6 crore over same quarter of last fiscal. While the gross NPA stood at 2.16% the net NPA stood at 0.48% at the quarter end. The capital adequacy ratio stood at 13.32%. The total business rose to Rs.66,022 crore registering a growth of 32% compared to same quarter last fiscal. While deposits increased 27.74% to Rs.38,017 crore advances increased 38.46% to Rs.28,004 crore. The share of low cost deposits (Current and Savings Bank) account for 32% of total deposits.

Result Update

Federal Bank The net profit of Federal Bank has grown by 28 % to Rs.69.46 crore for the second quarter of current year as against Rs.54.16 crore for same period last year. While gross NPA is down to 4.13% as against 5.97%, Net NPA is down to 0.67% as against 1.60%. The capital adequacy ratio stands at 12.80%. The total business grew by 21.71% to Rs.31,002 crore. Deposits grew 14.5% to Rs.18,288 crore and advances grew to Rs.12,714 crore. The above results does not include the results of Ganesh Bank of kurundwad which Federal Bank took over recently. ICICI Bank The bank has reported a 30% rise in net profit at Rs.755.01 crore in second quarter against Rs.580.05 crore in the same period last year. The advances stood at Rs.1,55,403 crore at September 2006 as against Rs.1,07,070 as at September 2005. The deposits stood at Rs.1,89,499 crore at September 2006 as against Rs.1,20,452 as at September 2005. In the second quarter, the bank raised hybrid Tier I capital worth $340 million from international markets and Rs.800 crore from the domestic markets. It also picked up Rs.1,200 crore through issue of upper Tier II bonds in the local market. The average interest cost of the domestic Tier I capital is about 10% and that of upper Tier II capital is 9.25%. The Capital Adequacy ration of the bank is 14.34%.

News

UCO Bank to sell Reliance General Insurance Products Reliance General Insurance Company Ltd, a part of the Anil Dhirubhai Ambani Group, has entered into a tie-up with UCO Bank for selling personal accident insurance products through the bank's network across the country. Under the arrangement, UCO bank depositors would be covered under the personal accident insurance scheme at a one-shot premium of Rs.6.99 for rupees one lakh. The sum assured may go in multiple of rupees one lakh upto a maximum of rupees five lakh. Stan Chart 2-in-1 account The bank has relaunched its 2-in-1 accounts by offering an 8% per annum interest for 188 days, the best rate in the market in that tenure. This account comes with four free-cash withdrawal transactions at any visa ATM across India. The minimum value for the term deposit is Rs.1 lakh and an initial cheque of Rs.10,000 is required to fund the linked savings account. this special offer is open to customers only during the campaign period (September 18 to December 31) Indian Bank As part of bank's ongoing Centenary year celebrations, it has introduced Premium Current Account and the SB Platinum Account with Sweep facility. This revolutionary offer ensures that surplus amounts in your above account get invested in short term deposits, fixed deposits or reinvestment schemes to earn interest like any other term deposit. ¯ Auto sweep at Daily intervals;¯ In multiples of customers’ choice;¯ Choice of tenure upto One year Sweep facility is available in all the CBS branches across the country. Along with the Sweep facility, the customer will also get a host of free add-ons as under PREMIUM CURRENT ACCOUNT FREE ** ð Internet, Mobile & Phone Banking ð ATM-cum-Global Debit Card as eligible ð DDs/BPOs AT PAR upto Rs.3 lakhs ð Stop payment & attestations carriedout ð IndBank Bill Pay (Utility Bill payment)* SB PLATINUM FREE ** ð Life Insurance cover for Rs.1 lakh from LIC ð Personal Accident Insurance cover - Rs.1 lakh ð Internet, Mobile & Phone Banking ð ATM-cum-Global Debit Card ð DDs/BPOs AT PAR upto Rs.25000/- ð IndBank Bill Pay (Utility Bill payment)* ð Personalised Cheque Book * in select cities ** conditions apply. for further details you can contact nearby branch of the bank.

Please Note:

From today the posts will be segregated in to 6 broad categories:

News

Important Events

Bank Stock News

Result Update

Class Room

Recruitment

Result Update

State Bank of Hyderabad

The bank has reported a net profit of Rs.128.76 crore during the second quarter of current fiscal ended September as against Rs.71.14 crore in the corresponding quarter of previous fiscal, a growth of 81.02 %. While the gross NPAs were brought down to 1.77%, net NPAs were reduced to 0.23%. The total business registered a growth of 25.02% and stood at Rs.63,850 crore. The deposits stood at Rs.39,789 crore while advances stood at Rs.24,063 crore.