Despite the pandemic, the Allahabad Bank merger with Indian Bank concluded the final technical amalgamation (software integration) last month. What were the key synergies and cost benefits they obtained due to amalgamation? How many branches were rationalised and how many people were repositioned? What next for the amalgamated entity? Any fundraising on the cards?
In this podcast, we give you an insight on post-merger details and how easy or difficult it was to conclude the amalgamation Dear Reader,
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Community-focused banks face existential crises over a lack of capital cushion and inadequate oversight
Synopsis
Currently, community banking only exists in some rudimentary form among cooperative banks. But these too face existential crises. Lack of adequate capital, ill-equipped boards, poor technology and a dwindling customer base have sounded the death knell for several community-focused banks.
Not many storms brew over the Arabian Sea, but strong winds blowing off East Africa occasionally whip up currents and swells that even the most experienced boatmen find difficult to navigate. Fishermen hailing from Vasai, Uttan, Naigaon and Arnala along the Mumbai coastline often return home in battered and creaky boats, hauling torn nets that manage a meagre catch during their 10-12-day deep-sea fishing expeditions.
Himalaya Food International has further paid an amount of Rs 1.80 crore to Union Bank of India against OTS it sanctioned last month.
The total amount paid to Union Bank of India is Rs 3.78 crore. The total amount paid to four banks against OTS till now is Rs 17.06 crore.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical
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With effect from 10 March 2021Bank of India announced the appointment of Monika Kalia (Chief General Manager, Union Bank of India), Swarup Dasgupta (General Manager, Bank of India) and M Karthikeyan (General Manager, Indian Bank) as Executive Directors of Bank of India with effect from 10 March 2021.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and inc