State-run Bank of Baroda is catapulting itself for a larger play in the system with the merger of Dena Bank and Vijaya Bank with itself from Monday.
Those who have an ECS arrangement with your bank, need not worry. It will get automatically transferred to SBI
The concern of policymakers worldwide about the 'oversized' financial institutions is justified since if something goes wrong with them, this can have serious ramifications on the whole financial system
Ravi Venkatesan (51), Independent Director, Infosys has been appointed as non-Exeuctive Chairman of Bank of Baroda. TN Manoharan (59), Director, Tech Mahindra, Public Health Foundation is non-Executive Chairman of Canara Bank.
The minister said banks in metropolitan cities generally look at a loan proposal on merit, irrespective of the borrower's gender, but those in smaller cities and towns tend to create many problems for women borrowers and this is "not a comfortable situation".
Last week, Finance Minister Arun Jaitley in his Budget speech had announced setting up the autonomous Banks Board Bureau for helping lenders raise capital for meeting expansion needs.
The Finance Ministry has asked the banks to formulate women-friendly transfer policies so that they can get transfers at places where their husbands are working or parents are living.<br />
The banking sector has done a "commendable" job in giving equal opportunities to women and other corporate sectors should take a lesson from it, Bajaj Auto Vice-Chairman Madhur Bajaj said today.
Inaugurating India's first all women's bank in Mumbai, Finance minister P Chidambaram said that the Bhartiya Mahila Bank is not a symbol of women empowerment but the substance of empowerment.<br /><br />