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<ul><li><keyword id="6358007" type="General" weightage="20" keywordseo="Bank-of-Baroda" source="Orion">Bank of Baroda</keyword> is hiring 52 IT professionals to work from Mumbai and Hyderabad offices.</li><li>The last date to apply for the opportunity is December 28.</li><li>Candidates who are willing to serve anywhere in the country can only apply for the recruitment.</li></ul>State-owned Bank of Baroda has opened up at least 42 positions for information technology (IT) professionals to work from its Mumbai and Hyderabad offices for a period of three years. The last date to apply for the opportunity is December 28. Candidates who are willing to serve anywhere in the country can only apply for the recruitment. Interested candidates can apply online <a href="https://www.bankofbaroda.in/career/current-opportunities/recruitment-of-it-officers-professionals">here</a>. These are some of the vacancies in the Bank of Baroda: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Post </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Age criteria </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eligibility criteria </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quality Assurance Lead </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min age — 28 Max age — 40 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 6 years of experience out of which at least 3 years’ experience in product/project management. bachelor in engineering (B.E)/bachelor in technology(B.Tech) in computer science/IT </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quality Assurance Engineers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For MMG Scale III Min age — 25 Max age — 35 For JMG Scale I Min age — 23 Max age — 30 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT For MMG Minimum 3 years of experience in software testing for Scale II For JMG Minimum 1 years of experience in software testing for Scale I </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Developer (Full Stack Java) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For MMG Scale III Min age — 28 Max age — 40 For MMG Scale II Min age — 25 Max age — 35 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT For MMG scale III Minimum 6 years of experience in software development for Scale III For MMG scale II Minimum 3 years of experience in software development for Scale II </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Developer (Mobile Application Development) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For MMG Scale III Min age — 28 Max age — 40 For MMG Scale II Min age — 25 Max age — 35 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT For MMG scale III Minimum 6 years of experience in software development for Scale III For MMG scale II Minimum 3 years of experience in software development for Scale II </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UI/UX Designer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For MMG Scale III Min age — 28 Max age — 40 For MMG Scale II Min age — 25 Max age — 35 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT For MMG scale III Minimum 6 years of experience in UI/UX designer roles for Scale III For MMG scale II Minimum 03 years of experience in UI/UX designer roles for scale II </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cloud Engineer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min age — 32 Max age — 45 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT. Minimum 10 years of technical and IT experience out of which at least 5 years’ experience in the field of cloud computing </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Application Architect </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min age — 32 Max age — 45 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT. Minimum 10 years of Technical and IT experience out of which at least 5 years’ experience as application architect. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Enterprise Architect </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min age — 32 Max age — 45 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT. Minimum 10 years of Technical and IT experience out of which at least 5 years’ experience in architecting, designing and managing banking platforms. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Technology Architect </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min age — 32 Max age — 45 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT. Minimum 10 years of technical and IT experience out of which at least 5 years’ experience in architecting, designing and managing banking platforms </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infrastructure Architect </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min age — 32 Max age — 45 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT. Minimum 10 years of technical and IT experience out of which at least 5 years’ experience in designing and building large IT infrastructure projects </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Integration Expert </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min age — 32 Max age — 45 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">B.E./B.Tech. in computer science or IT. Minimum 10 years of technical and IT experience out of which at least 5 years’ experience in the integration process of banking platforms. </td></tr></tbody><tbody></tbody></table> Selection procedure The selection procedure consists of three steps — online test, group discussion and personal interview. The test will contain questions from these sections — reasoning (25 questions), English language (25 questions), quantitative aptitude (25 questions), and professional knowledge (75 questions). Candidates belonging to general/other backward class (OBC) category will have to pay an application fee of ₹600. However, candidates belonging to scheduled castes(SC)/scheduled tribe (ST)/Persons with Disability (PWD) will have to pay an application fee of ₹100. Interested candidates can seek more information <a href="https://www.bankofbaroda.in/-/media/Project/BOB/CountryWebsites/India/Career/advertisement-it-professionals-final-07-24.pdf">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/pegasus-google-reveals-how-the-sophisticated-spyware-hacked-into-iphones-without-users-knowledge/articleshow/88383175.cms">Pegasus: Google reveals how the sophisticated spyware hacked into iPhones without user’s knowledge</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-shriram-properties-disappoints-ipo-investors/articleshow/88383115.cms">Shriram Properties lists 20% below IPO price amid a market-wide meltdown</a>

Bank of Baroda is looking for at least 52 engineers in Mumbai and Hyderabad to improve the app, user experience and quality

<ul><li>BPS is inviting applications for the post of probationary officers/management trainees for 2022-23.</li><li>The online applications began on October 20 and the last date to register is November 10 this year.</li><li>Candidates will also have to pay an application fee of ₹850 in online mode.</li></ul>Institute of Banking Personnel Selection (<keyword id="460374" type="General" weightage="20" keywordseo="IBPS" source="Orion">IBPS</keyword>) is inviting applications for the post of probationary officers/management trainees for 2022-23. The online applications began on October 20 and the last date to register is November 10 this year. Candidates who are interested in applying for the opportunity, will have to mandatorily appear for an online preliminary exam and then online main examination and then finally for a common interview for selection. Applicants who successfully clears all three phases of the exam, will be provisionally allotted to one of the participating banks. These are the banks participating — Bank of Baroda, Canara Bank, <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>n Overseas Bank, UCO Bank, Bank of India, Central Bank of India, Punjab National Bank, Union Bank of India, Bank of Maharashtra, Indian Bank, and Punjab &amp; Sind Bank. Online preliminary examination will be conducted on December 4 and 11 (tentative dates). The results of this exam will be announced in December2021/January 2022. The date for the online main exam is yet to be announced and is expected to be held in January 2022. The common interviews are expected to be conducted in February/March 2022. The final allotment will be done in April 2022. Eligibility criteria for the opportunity — <ol><li>Candidates must be a citizen of India or a subject of Nepal or a subject of Bhutan or a Tibetan Refugee who came over to India before 1st January 1962 with the intention of permanently settling in India or a person of Indian origin who has migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania (formerly Tanganyika and Zanzibar), Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India, provided that a candidate belonging to above categories shall be a person in whose favour a certificate of eligibility has been issued by the Government of India. </li><li>Applicants minimum age should be 20 years, while maximum should be 30 years as on 1 October, 2021. </li><li>Graduation degree in any discipline from any university recognised by the government of India or any equivalent qualification recognised by the Central Government. </li></ol>Candidates will also have to pay an application fee of ₹850 in online mode. Applicants belonging to scheduled castes (SC)/scheduled tribes (ST)/persons with disability (PwD) are liable to pay only ₹175. How to apply online for the recruitment process — <ol><li>Open the IBPS’s official <a href="http://www.ibps.in">website</a> and click on the Home Page to open the link “CRP PO/MT” and then click on the option “CLICK HERE TO APPLY ONLINE FOR CRP PROBATIONARY OFFICERS/ MANAGEMENT TRAINEES (CRP-PO/MT-XI)” to open the online application form. </li><li>Click on “CLICK HERE FOR NEW REGISTRATION” to register their application by entering their basic information in the online application form. After that a provisional registration number and password will be generated by the system and displayed on the screen. </li><li>Then upload the necessary documents and then click on ‘Save and Next’. </li><li>After uploading all the documents, pay the fee through online mode. </li><li>After payment, click on the ‘complete registration’ button. </li></ol>Note: Candidates are required to cross-verify their details and documents as IBPS will not be responsible for any consequences arising out of furnishing incorrect and incomplete details in the application or omission to provide the required details in the application form. Interested candidates can seek more information and apply <a href="https://ibpsonline.ibps.in/crppo11jul21/">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/heres-how-janet-yellens-proposed-tax-on-unrealised-capital-gains-may-work/articleshow/87249423.cms">Here’s how Janet Yellen's proposed tax on unrealised capital gains may work</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/loss-making-groww-is-now-the-most-valued-investment-platform-even-though-some-of-its-peers-make-profits/articleshow/87249142.cms">Loss-making Groww is now the most-valued investment platform even though some of its peers make profits</a>

IBPS invites applications for probationary officers/management trainees in Bank of Baroda, Indian Bank, PNB and many others for 2022-23

<ul><li>The Monetary Policy Committee (<keyword id="19918491" type="General" weightage="20" keywordseo="mpc" source="keywords">MPC</keyword>) has decided to keep the repo rate unchanged at 6.5%. </li><li>Economists had expected the MPC to keep key rates unchanged due elevated inflation in December 2023.</li><li>A few experts hoped that it would change its stance to ‘neutral’ given the tight liquidity situation. </li></ul> The <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>)’s rate setting panel – the Monetary Policy Committee – decided to keep its key lending rate (repo rate) unchanged at 6.5% on Thursday. It also decided to remain focussed on the ‘withdrawal of accommodation’ stance. RBI Governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword> said that both the decisions have been taken with five out of six members voting in favour. Governor Das said there was further room for transmission. “Taking into account this growth-inflation dynamics and the fact that transmission of the cumulative 250 bps policy rate hike is still underway, the MPC decided to keep the policy repo rate unchanged at 6.50%. The MPC will carefully monitor any signs of generalisation of food price pressures which can fritter away the gains in easing of core inflation,” he said. The MPC also raised the FY24 real GDP growth projection to 7.3% from 7%. It also set FY25’s real GDP growth projections at 7%. “The momentum in economic activity seen in FY24 is expected to continue in FY25 as well,” Das said. It also projected FY25’s Q1 GDP growth at 7.2%, Q2 to see 6.8% growth, Q3 at 7% and Q4 at 6.9%. The MPC also retained FY24’s retail inflation projections at 5.4%, but set FY25’s inflation projections at 4.5%. It sees inflation for Q1 of FY25 at 5%, Q2 at 4%, Q3 at 4.6% and Q4 at 4.7%. “Monetary policy was supported by pro-active supply-side measures by the government. That said, the job is not yet finished, and we need to be vigilant about new supply shocks that may undo the progress made so far,” Das said. Das said that elevated levels of public debt was raising serious concerns in many economies including advanced economies. “On one hand, the odds of soft landing in the global economy increased. But the other hand, wars and conflicts add uncertainties to the outlook,” the governor said. Experts have been expecting the monetary policy committee (MPC) to keep its key rates unchanged. India’s retail inflation for December 2023 came in at 5.7%, which is much higher than RBI’s comfort level of 4%. “We expect the RBI to continue the pause stance in the upcoming policy. Strong US non-farm payroll data and wages seem to have pushed back on market expectations for a quick pivot to rate cuts. First rate cut on table from June or August 2024 looks the best bet now,” said a report by SBI Ecowrap. Ajit Kabi, research analyst at LKP Securities said that the RBI is likely to support economic growth with a cautious stance on inflation. “Consequently, we expect the unchanged policy rate and possibility of a shift in stance to NEUTRAL. Additionally, RBI may take steps to improve liquidity conditions. We expect a policy rate cut by June 24,” he added. There has been a pressure of liquidity which made a few experts hope that it could change its stance from ‘withdrawal of accommodation’. “There is a strong case for the RBI to change its stance from ‘withdrawal of accommodation’ to ‘neutral’. Financial conditions have tightened a lot in the last few quarters. Real rates are reasonably high and likely to increase further as inflation is trending down,” said Pankaj Pathak, Fund Manager- Fixed Income, Quantum AMC. While growth in deposits is much higher than last year on YTD basis as of January 12, the increase in credit and investments at ₹22.25 lakh crore is higher than that of deposits at ₹18.2 lakh crore. In terms of growth rates on a year-to-date basis, says Bank of Baroda data. Liquidity condition has also tightened with banking system liquidity running in deficit of over ₹2 lakh crore on daily basis. “Under these conditions there is some part of the market segment that believes that a change in stance is possible, though we believe that this will not be the case. The fact that the corridor of call rates is being maintained at between repo and Marginal Standing Facility (MSF0 rate, is indicative of the fact that the withdrawal of liquidity position would continue,” said <keyword id="20102121" type="General" weightage="20" keywordseo="madan-sabnavis" source="keywords">Madan Sabnavis</keyword>, chief economist at Bank of Baroda.

RBI hikes GDP growth projection for FY24 to 7.3%, keeps rates, stance unchanged

New Delhi, Nov 28 () <keyword id="702805" type="ORGANIZATION" weightage="20" keywordseo="Edelweiss-Housing-Finance">Edelweiss Housing Finance</keyword> Ltd (<keyword id="784798" type="ORGANIZATION" weightage="20" keywordseo="EHFL">EHFL</keyword>) and <keyword id="6358007" type="COMPANY" weightage="20" keywordseo="bank-of-baroda">Bank of Baroda</keyword> have tied up for co-lending of home loans to self-employed and salaried persons. EHFL, a subsidiary of Edelweiss Financial Services Ltd, has entered into a strategic agreement with Bank of Baroda (BoB) for co-lending of home loans to self-employed and salaried customers, a statement said on Thursday. Under the pact, EHFL and BoB will share risks and rewards in creating a conducive lending ecosystem for home loan seekers, the statement added.
 For Edelweiss, co-lending represents an alternative model of disbursals that is asset light and creates a sound revenue model for sustainable business.
 For self-employed and salaried customers, co-lending provides benefits of dealing with a single entity for their financing and convenient access to a blended cost-effective rate of interest.
 Bank of Baroda Executive Director Vikramaditya Singh Khichi said the pact is in line with the bank's objective to increase its reach to maximum number of prospective borrowers.
 "Easy availability of home loans will lead to higher demand in the real estate sector, which is a key driver of economic growth because of the jobs it creates and the industries and small-scale businesses it sustains," said EHFL Chief Executive Officer Rajat Avasthi. KPM HRS

EHFL and Bank of Baroda have tied up for co-lending of home loans

(Image source- Reuters) <ul><li>The members of nine bank unions are all set to stage a <keyword id="6358138" type="PERSON" weightage="20" keywordseo="Strike">strike</keyword> on 26 December as part of a nationwide protest against the Indian government’s decision to merge <keyword id="6368859" type="COMPANY" weightage="20" keywordseo="vijaya-bank">Vijaya Bank</keyword> and <keyword id="6359442" type="COMPANY" weightage="20" keywordseo="dena-bank">Dena Bank</keyword> with the <keyword id="6358007" type="DOMAIN" weightage="20" keywordseo="bank-of-baroda">Bank of Baroda</keyword>. </li><li>As a result, banking services at a number of public-sector banks will be affected, which includes ATM operations and cheque clearances. </li><li>The strike has been called by the United Forum of Bank Unions (UFBU) and will involve the participation of around 1 million bank employees. </li><li>It comes in addition to a strike coordinated by the <keyword id="723485" type="ORGANIZATION" weightage="20" keywordseo="All-India-Bank-Officers-Confederation">All India Bank Officers' Confederation</keyword> (AIBOC), which falls under the UFBU, in the last few days in pursuit of higher <keyword id="6356975" type="UNKNOWN" weightage="20" keywordseo="wages">wages</keyword> for bank employees. </li></ul>The members of nine bank unions are all set to stage a strike on 26 December as part of a nationwide protest against the Indian government’s decision to <a href="https://www.businessinsider.in/indias-government-is-merging-three-state-owned-lenders-to-create-one-of-the-countrys-largest-banks/articleshow/65853052.cms">merge three state-owned lenders</a> - Bank of Baroda, Vijaya Bank and Dena Bank. As a result, banking services at a number of public-sector banks will be affected including ATM operations and cheque clearances. Despite the participation of the employees of some private banks, the operations of private banks are expected to continue as normal. The strike has been called by the United Forum of Bank Unions (UFBU), an umbrella organisation for India’s nine major bank unions, and will involve the participation of around 1 million bank employees. It comes in addition to a strike coordinated by the All India Bank Officers' Confederation (AIBOC), which falls under the UFBU, in the last few days in pursuit of higher wages for bank employees. The government decided to merge the mammoth Bank of Baroda with the smaller regional players Dena Bank and Vijaya Bank in September 2018. While the reasons for the move were manifold, it was mostly aimed at creating a larger bank with a strong capital buffers and helping Dena Bank, which has a non-performing ratio of over 11%, improve its balance sheet and be taken off the central bank’s Prompt Corrective Action watchlist. The merged entity will become the third-largest bank in India and have nearly 9,500 branches. While the decision has been welcomed in some circles, it has largely been opposed by the employees of these banks. This is mostly due to the fact that the <keyword id="42411" type="PERSON" weightage="20" keywordseo="Merger">merger</keyword> is expected to result in a number of job cuts, especially since overlapping departments will be trimmed down to size, and the closure of branches that are in close proximity to one another. It could also provide further room for private banks to muscle in on the market share of public-sector banks. Separately, the Indian Banks Association (IBA), an industry lobby, has been engaged in negotiations with unions since November last year over a possible wage revision. A lack of progress led to <a href="https://www.businessinsider.in/nearly-1-million-bank-employees-in-india-are-set-to-go-on-strike-this-week/articleshow/64366473.cms">a nationwide strike</a> by employees at the end of May 2018. The IBA upped its revision proposal from 2% to <a href="https://www.business-standard.com/article/economy-policy/indian-banks-association-offers-6-wage-hike-unions-reject-the-offer-118073100058_1.html">6%</a> at the end of July, but this was rejected as employees were expecting a raise along the lines of the 15% hike received in February 2015 during the last wage revision discussions. The IBA subsequently hiked its offer to 8%, which was <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/bank-unions-reject-ibas-8-wage-hike-offer/articleshow/66891829.cms">rejected by unions</a> on 1 December. The nationwide strike by the bank unions is expected to lead to a higher wage offer, although the IBA won’t have much space to maneuver since public-sector banks are burdened with a lion’s share of the country’s bad loans. A higher wage hike proposal could offset the discomfort caused by the merger of the three public-sector lenders, which is expected to be completed early next year following the approval of the <a href="https://www.thehindubusinessline.com/money-and-banking/finmins-alternative-mechanism-gives-nod-for-bob-dena-vijaya-bank-merger/article25798898.ece">scheme of amalgamation</a> last week. SEE ALSO: <a href="https://www.businessinsider.in/indias-government-is-merging-three-state-owned-lenders-to-create-one-of-the-countrys-largest-banks/articleshow/65853052.cms">India’s government is merging three state-owned lenders to create one of the country’s largest banks</a> <a href="https://www.businessinsider.in/nearly-1-million-bank-employees-in-india-are-set-to-go-on-strike-this-week/articleshow/64366473.cms">Nearly 1 million bank employees in India are set to go on strike this week</a>

A number of unions in India are protesting against the government’s decision to merge three state-owned banks

<ul><li><keyword id="7298166" type="General" weightage="20" keywordseo="mba-chai-wala" source="Orion">MBA Chai Wala</keyword> is all set to mark its territory in 200 Indian cities by the end of this year.</li><li>The company has expanded to 100 cities like Bhopal, Srinagar, Surat, Delhi and more.</li><li>MBA Chai Wala now also looks to expand in the southern part of the country.</li></ul>Prafull Billore-led tea cafe chain MBA Chai Wala is all set to mark its territory in 200 Indian cities by the end of this year, generating over a 1,000 <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword>. Billore — a son of a farmer — founded MBA Chai Wala as ‘Mr Billore Ahmedabad’ in 2017 after three consecutive failed attempts at CAT examinations. He wanted to get an MBA college and work at a multinational corporation, but instead he opened a small ‘thela’ cart outside his dream college IIM Ahmedabad. “Under my father’s pressure, I also took admission in a local college but I dropped out in 12 days. My father got really upset. But I wanted to create my own identity,” Billore noted. His brother Vivek Billore also joined MBA Chai Wala as a cofounder in 2020. The company has expanded to 100 cities like Bhopal, Srinagar, Surat, Delhi and more — since 2021. It now plans to double that number this year. It is currently opening 10-15 franchise stores on a monthly basis in an attempt to achieve these targets. Each of these stores are operated under the brand name MBA Chai Wala but will be financially managed by a franchise partner, who also handle all the investments that go into the outlet. The company charges ₹20 lakh on an annual basis to sell its franchises. Billore claims that the original MBA Chai Wala outlet in Ahmedabad earns up to ₹17 lakh a month. Meanwhile, an average MBA Chai Wala outlet employs seven employees and a smaller outlet provides employment opportunities to roughly five people. Based on this, the company will be generating employment for at least 500 people through its next 100 stores. MBA Chai Wala has been focusing on expansion in Northern India so far but it will now also look to expand in the southern part of the country, Praful Billore told Business Insider India. He noted that they will launch stores in Chennai, Bengaluru, Belgaum, Goa, Tirupati and more. “We used to get inquiry [for franchise] earlier too, but we scaled our business, built a name first and then started the franchise model,” Billore added. The company plans to expand his business across all 1,900 pin codes and 4000 cities in India with a goal to grow worldwide. They also plan to start their own tea-leaf brand. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/spicejet-bank-of-baroda-hcl-tech-among-stocks-to-watch-out-for-on-july-12/slidelist/92816678.cms">SpiceJet, Bank of Baroda, HCL Tech among stocks to watch out for on July 12</a> <a href="https://www.businessinsider.in/business/startups/news/unacademy-shuts-down-global-test-prep-business-ceo-opts-for-a-pay-cut/articleshow/92806222.cms">Even with ₹2,800 crore in bank, we are not efficient at all: Unacademy’s Gaurav Munjal</a> <a href="https://www.businessinsider.in/business/corporates/news/uber-files-what-they-reveal-about-the-companys-india-operations/articleshow/92805725.cms">Uber Files — What they reveal about the company’s India operations</a>

From a small thela to 100 stores — MBA Chai Wala is now looking to hire 500 people for 100 more

<ul><li><keyword id="6355142" type="General" weightage="100" keywordseo="drdo" source="Orion">DRDO</keyword> is inviting applications for apprentices posts for one year training with a maximum stipend of ₹9,000.</li><li>The last date for applying is 21 days from the date of the advertisement, which came out on October 22.</li><li>Candidates who have already undergone apprenticeship training in any institute/organisation are not eligible</li></ul>Defence <keyword id="12389834" type="General" weightage="20" keywordseo="scientific-information-and-documentation-centre" source="Orion">Scientific Information and Documentation Centre</keyword> (DESIDOC), under the aegis of <keyword id="152819" type="General" weightage="20" keywordseo="defence-research-and-development-organisation" source="Orion">Defence Research and Development Organisation</keyword> (DRDO), <keyword id="6369097" type="General" weightage="20" keywordseo="ministry-of-defence" source="Orion">Ministry of Defence</keyword> is recruiting 21 apprentices across different departments for one year training. Interested and eligible candidates can apply online for the post on the official website of <a href="https://www.drdo.gov.in/careers">DRDO</a>. The last date for applying is 21 days from the date of the advertisement, which came out on October 22. Candidates who have already undergone apprenticeship training in any institute/organisation are not eligible and only those who passed in 2019 or later can apply. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Post </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Educational qualifications </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stipend </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Library &amp; Information Science </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Degree/diploma (2 years) in Library &amp; Information Science from any recognised university/institution </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,000/ ₹8,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Computer Science </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Degree in computer science (Bachelor’s in Engineering/Bachelor’s of Technology) or Diploma (3 years) from any recognised university/institution </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,000/ ₹8,000 </td></tr></tbody><tbody></tbody></table> Candidates will be selected on the basis of the marks or percentage scored in their educational qualification and the shortlisted ones will be called for an interview. Candidates who clear both the rounds will be informed about their selection through an offer letter. The Director of DESIDOC has set up a board that will go through the applications, and shortlist the candidates as per selection criteria. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/ibps-invites-applications-for-probationary-officers/management-trainees-in-bank-of-baroda-indian-bank-pnb-and-many-others-for-2022-23/articleshow/87249654.cms">IBPS invites applications for probationary officers/management trainees in Bank of Baroda, Indian Bank, PNB and many others for 2022-23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tesla-hits-1-trillion-in-valuation-elon-musks-wealth-surges-by-36-billion-in-a-day/slidelist/87270060.cms">Tesla hits $1 trillion in valuation, Elon Musk’s wealth surges by $36 billion in a day</a>

DRDO is inviting applications for apprentice posts in India — Here is how you can apply

<ul><li>The UK-based <keyword id="3165837" type="General" weightage="20" keywordseo="Fintech-company" source="Orion">fintech company</keyword> is looking forward to hiring 600 tech professionals by the end of 2026.</li><li>Earlier this year in June, the financial services company also announced its hiring plans of 1,000 people in India.</li><li>Click <a href="https://www.businessinsider.in/newsletter-17-december-2021/binewsletter/88306447.cms?utm_source=bi&amp;utm_medium=email_newsletter&amp;utm_campaign=Business_Insider_Newsletter">here</a> for simple, fun and yet insightful explainers on the hottest news developments every week.</li></ul><keyword id="45792" type="General" weightage="20" keywordseo="Tide" source="Orion">Tide</keyword>, a United Kingdom-based financial and banking services platform, is looking forward to hiring 600 tech professionals by the end of 2026 for its office in Hyderabad, which is the tech centre of the company in India. The neobank ⁠— which operates in partnership with RBL Bank in India ⁠— needs 300 engineers, with a particular focus on backend engineers in Java and Python, across various roles. It is also looking for experts in data science and Flutter. Founded in 2015 and launched in 2017, the fintech ⁠— valued at $650 <a href="https://timesofindia.indiatimes.com/business/india-business/tide-raises-100-million-in-series-c-funding/articleshow/84341739.cms">million</a> ⁠— will include training and hiring fresh graduates from institutes like Indian Institutes of Technology (IIT), National Institute of Technology (NIT) through an ‘Internship to hire’ programme. Interns who successfully complete the programme will be offered a full-time opportunity. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">What is Tide? </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">What does it do? </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">A digital financial and banking services platform with its India headquarters in Hyderabad and Gurgaon. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offers business accounts, related banking services and administrative solutions to small and mid-size enterprises (SMEs) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Earlier this year in June, the financial services company also announced its hiring plans of 1,000 people in India. “So out of 1,000, 200 have already been hired and overall, we have a team size of over 350 today in India,” <keyword id="12753669" type="General" weightage="20" keywordseo="gurjodhpal-singh" source="Orion">Gurjodhpal Singh</keyword>, chief executive officer (CEO) at Tide (India) told Business Insider in an interaction. Other than tech professionals, the company will also be hiring people across business profiles for their Gurugram office, which is the business hub of the company. He further said, “Along with techies, we are also actively hiring for business teams and business roles. So that is another aspect of the 1,000 employees that we are looking to hire.” When asked about how the company will fund the new hiring plans, he said, “We have raised a decent Series-C earlier this year. So, both these put together put us in a position where now we can invest into further growth and that is what we are intending to do. Our growth journey will also be focused on growing in terms of revenue and market share. All that will go into investing into a larger team and building a more robust product.” <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total funding raised so far </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key competitors </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$195.2 million Source: Crunchbase </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Augmentum Fintech, Apax Digital, Passion Capital and SBI Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">InstantPay, Open, Revolut etc. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> In an interview with Business Insider, Singh, also mentioned the aggressive growth plans in India in the next five years but did not reveal much details. He said, “ We have aggressive growth plans for the next 5-years. Considering that India has 10% of global SMEs, our aspiration is to impact 25% of the global SME base through Tide.” Singh mentioned his plans about launching new products in the Indian market and setting up of new offices in different states of the country. “ In parallel we will also be expanding our product foothold across the country, apart from Delhi and Hyderabad with our banking partner (RBL Bank). We're a very open and agile organization and would be open about moving into some more cities as well in India if need be. But for now, this is the plan,” said Singh. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/bank-of-baroda-recruitment-check-all-the-details-including-eligibility-last-date-to-apply/articleshow/88383348.cms">Bank of Baroda is looking for at least 52 engineers in Mumbai and Hyderabad to improve the app, user experience and quality</a>

British neobank Tide wants to hire 600 techies and business execs in Hyderabad and Gurugram

<ul><li><keyword id="46013" type="CITY" weightage="20" keywordseo="Kotak-Mahindra-Bank">Kotak Mahindra Bank</keyword>, <keyword id="2240511" type="PERSON" weightage="20" keywordseo="Bandhan-Bank">Bandhan Bank</keyword> and <keyword id="46717" type="CITY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> continue to trade be in the green.</li><li>Kotak Mahindra Bank leads the pack after <keyword id="45051" type="PERSON" weightage="20" keywordseo="Uday-Kotak">Uday Kotak</keyword> announced that he's selling 2.83% of his stake in the bank.</li><li>India's largest bank, the State Bank of India (SBI), reported flat gains with RBL Bank and Bank of Baroda trading in the red. </li></ul>The banking sector is in the green as the Unlock 1.0 comes into effect and market sentiment expects financial services to recover. Kotak Mahindra Bank’s share price <a href="https://www.businessinsider.in/business/news/kotak-mahindra-bank-shares-rally-8-pc/articleshow/76150119.cms">surged by nearly 8%</a> to hit ₹1,348 after Uday Kotak announced he would be selling 2.83% of this stake — worth over ₹6,800 crore. <div type="Article" hostid="261" msid="76141837" title="Billionaire Uday Kotak to sell 2.83% stake worth over ₹6,800 crore in Kotak Mahindra Bank" mstype="2" mssubtype="0"></div> Kotak Mahindra Bank continues to be the top gainer on the stock market followed by Bandhan Bank, IndusInd Bank and Axis Bank. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2675172" data-url="https://flo.uri.sh/visualisation/2675172/embed"></div>]]></cdata></div> However, the light is no longer as bright for three entities, including India’s largest bank, the State Bank of India (SBI). SBI’s share price, along with RBL Bank and Bank of Baroda. SBI ended the day with flat growth with the former two trading in the red despite yesterday’s surge. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock price change (%) </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.57 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bandhan Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.18 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.00 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.31 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.70 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.35 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IDFC First Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">0.85 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Federal Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.04 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-0.26 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bank of Baroda </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-1.18 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">RBL Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-2.08 </td></tr></tbody></table> Refinancing pivots Kotak Mahindra Bank in the lead Before Uday Kotak decided to sell nearly 3% of his take in Kotak Mahindra Bank, it had already announced a qualified institutional placement (QIP) of ₹7,000 crore. This allowed the private lender to raise capital from domestic markets without the need to submit a pre-issue filing with the Securities and Exchange Board of India (SEBI). Despite filing an appeal with the regulator to allow Asia’s richest banker to retain his stake amid the coronavirus pandemic, he is selling his stake to meet the Reserve Bank of India (RBI) mandate of 26%. "Uday Suresh Kotak will sell 56 million equity shares or 2.83% of equity of bank through the block deal. After the dilution, his personal holding will come down to 26.1% from 28.93% now," as per the term sheet. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/yes-bank-is-looking-to-raise-10000-crore-through-fpo-with-kotak-securities-axis-capital-and-sbi-capital-reportedly-to-be-key-players/articleshow/76153458.cms">Yes Bank is looking to raise ₹10,000 crore through FPO – with Kotak Securities, Axis Capital, and SBI Capital reportedly to be key players</a> <a href="https://www.businessinsider.in/careers/news/jp-morgan-sets-aside-17-crore-to-upskill-4800-indian-graduates-for-banking-jobs/articleshow/76152133.cms">JP Morgan sets aside ₹17 crore to upskill 4,800 Indian graduates for banking jobs</a> <a href="https://www.businessinsider.in/stock-market/news/tata-power-hare-price-chart-after-acquisition-of-odishas-power-distribution-and-plans-to-reduce-debt/articleshow/76150469.cms">Tata Power shares jump 4% after company takes over Odisha’s power distribution and announces plans to reduce debt</a>

Kotak Mahindra Bank, Bandhan Bank and IndusInd Bank share prices soar with refinancing pulling them out of the red

There is great news for borrowers who have a good track record when it comes to servicing their loans! With the introduction of three new credit information bureaus in India and credit scores for bank customers, individuals will have the liberty of shopping around for cheaper bank loans at better terms. Having said that, those individuals who have a history of defaulting on their loans may be required to pay even more, or in certain situations, even be denied bank credit. 
 
What does this mean? 
 
A credit information bureau works by storing information about a person’s credit history. Based on the credit scores that these bureaus assign to customers, banks can come to a decision about their creditworthiness. 
 Up until now, the Credit Information Bureau (India) Ltd (<keyword id="6380215" type="ORGANIZATION" weightage="80" keywordseo="CIBIL">Cibil</keyword>), operating since 2004, was the only agency that assessed a borrower’s creditworthiness. The three new bureaus will join this agency to offer an additional level of credit scoring models. Despite the fact that around 13 companies had applied to start credit information bureaus, only three have been allowed to function by the <keyword id="417932" type="ORGANIZATION" weightage="40" keywordseo="Indian-Banking">Indian banking</keyword> regulator—Experian Credit Information Co. of <keyword id="2450396" type="COMPANY" weightage="40" keywordseo="India-Pvt">India Pvt</keyword>. Ltd, <keyword id="2450397" type="UNKNOWN" weightage="60" keywordseo="Equifax-Credit-Information-Services-Pvt">Equifax Credit Information Services Pvt</keyword>. Ltd and <keyword id="2450392" type="UNKNOWN" weightage="40" keywordseo="High-Mark-Credit-Information-Services-Pvt">High Mark Credit Information Services Pvt</keyword>. Ltd. 
 
By December, Cibil plans to begin their credit scoring services. With these services in place, a person will be able to find out their credit score before they apply for a loan. This score will be useful for the individual. It will eventually allow him to bargain with banks for better rates on loans. 
 According to Cibil’s <keyword id="24973" type="POSITION" weightage="40" keywordseo="managing-director">managing director</keyword> <keyword id="220895" type="PERSON" weightage="40" keywordseo="Arun-Thukral">Arun Thukral</keyword>, their focus is on expanding credit to good customers as well as avoiding customers who have a bad credit history. These credit scores will be able to help banks steer clear of the main pitfalls associated with bad transactions. 
 
The scenario so far 
 
Indian banks have credit score information readily available to them, but this information isn’t divulged to customers. Banks can therefore take advantage of this non-transparency and standardize the loan rate among customers. This leads to a creditworthy customer having to pay for the bad transaction of an undesirable borrower, so to speak. 
 
Despite the fact that banks had an in-house scoring model, they didn’t have access to any such repayment track record of customers who had taken loans from other banks, until Cibil began to offer this service. This allows disparity to be done away with. For instance, an individual may have a good record with a certain service provider or bank, but may have defaulted on repaying loans related to other service providers and banks. 
 
The global footprint 
 
In the global financial market, a credit score is used for many different reasons such as purchase of homes and cars, movement of goods and services and getting job. It is therefore, an integral part of any banking system. In India however, it is widely used in the retail lending space that was rapidly growing until 2007. 
 According to RK Bakshi, executive director, <keyword id="6358007" type="CITY" weightage="80" keywordseo="Bank-of-Baroda">Bank of Baroda</keyword>, credit scores are essential to retail operations. He says that with the introduction of competition in the field, value-added services can’t be far behind. 
 
How Cibil has changed the face of credit scoring in India 
 When Cibil’s consumer bureau was set up in 2004, it had a database of over four million trade records of 13 members. Today, the agency has around 135 million transactions of 165 members, <keyword id="54921" type="ENTERTAINMENT" weightage="40" keywordseo="spread">spread</keyword> across mortgage firms, banks and non-banking <keyword id="25455" type="ORGANIZATION" weightage="40" keywordseo="finance">finance</keyword> companies. Credit scores are offered for all types of loans, including personal loans, and they vary from 300 to 900. This flexible range is essential because some banks might be comfortable giving loans at a credit score of 550, while others may not want to drop below a score of 800. Once individuals become aware of their own credit scores, the rate of interest that they are charged tends to decline. 
 
Currently, Cibil is setting up a call centre for individual customers, and a maximum charge of Rs.100 will be levied to obtain credit score information. Utility and telecom companies will be the first to avail of Cibil’s services, as they need access to a regular stream of credit information before they extend their services to customers. 
 
In the following three months, there are also plans to launch a fraud depository and a mortgage depository. Through this, any fraudulent loans acquired by customers will be curbed and a database of frauds committed by borrowers will be maintained. 
 
International help has rolled in from <keyword id="6379677" type="COMPANY" weightage="40" keywordseo="Experian">Experian</keyword> 
 The world’s largest credit bureau company Experian will be aligning its products to meet the needs of the local market, such as fraud prevention, customer monitoring and collections capabilities. While Experian said that it was unclear how long India would take to scale to a global level, its experience in other markets would be leveraged on to build new services that take care of the needs of the <keyword id="47445" type="UNKNOWN" weightage="40" keywordseo="Indian-market">Indian market</keyword>, much more quickly than if a bureau was being launched for the very first time. 
 
Why India needs more players 
 While Cibil has the advantage of being the <keyword id="191967" type="POSITION" weightage="40" keywordseo="first-player">first player</keyword> in the Indian market, there is always scope for more to join in. According to a research conducted by <keyword id="2450387" type="COMPANY" weightage="80" keywordseo="JPMorgan-Chase-and-Co-">JPMorgan Chase and Co.</keyword> on May 22, there is immense potential of credit bureaus in India. It states that though India’s population boasts of an attractive demographic, credit bureaus seems to be at a very nascent stage. Therefore, the Indian market will prove to be a long-term growth opportunity for Experian. 
 
Indian regulations do not permit foreign investment in a credit bureau company to exceed 49%. Experian, which has been running retail services and decision analytics businesses for the past three years, is yet to zero in on its Indian partners. 
 Another global credit score company, Equifax has tied up with global rating agency <keyword id="90982" type="ORGANIZATION" weightage="40" keywordseo="Standard-and-Poor">Standard and Poor</keyword>’s Indian arm <keyword id="234798" type="COMPANY" weightage="40" keywordseo="CRISIL-Ltd">Crisil Ltd</keyword> and <keyword id="2450395" type="COMPANY" weightage="40" keywordseo="Tata-Capital-Ltd-">Tata Capital Ltd.</keyword>

Credit Data Bureaus– Why India Needs More Players

Banking services across the country are likely to be partially disrupted on October 22 as two bank unions will go on a 24-hour strike on the day. The strike has been called by All India Bank Employees' Association (AIBEA) and the Bank Employees Federation of India (BEFI) to protest against recent bank mergers, falling deposit rates and issues of job security. The Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> and <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> will, however, not participate in the strike, sources in them said. Regional Rural Banks and cooperatives banks will also not participate in the strike as mergers do not affect them, sources said. Striking unions said they will shut the ATMs as these will be under the strike ambit.Bank of Maharashtra, Syndicate Bank, Bank of Baroda have expressed concern over their providing normal customer services. "We expect good response from all PSU and private banks," Bank Employees Federation of India (State Federation) General Secretary Joydeb Dasgupta said. SBI has claimed the impact of the strike on its operations will be minimum as most of its employees are not members of the participating unions. A SBI union leader said they are not participating in the strike and services will be normal. Dasgupta said SBI employees have offered moral support to the strike he said adding "It would have been good if SBI joined the strike".AIBEA and BEFI also oppose outsourcing of regular and perennial banking jobs and privatisation of banking industry, sources in them said. They have demanded adequate recruitment of clerical and sub-staff and urged for stringent steps for recovery of mounting bad loans, the sources added.

You Searched For "IT jobs in Bank of Baroda" and got 11 results

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