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The finance ministry has initiated the process for finding new chief of the country's largest lender <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword> (<keyword id="13222" type="CITY" weightage="100" keywordseo="SBI">SBI</keyword>) as Arundhati <keyword id="721" type="PERSON" weightage="100" keywordseo="Bhattacharya">Bhattacharya</keyword>'s extended term comes to an end on October 6, according to PTI.<br /> <br /> "Department of Financial Services has communicated to Banks Board Bureau the emerging vacancies at the top level of <keyword id="44530" type="COMPANY" weightage="20" keywordseo="PSU">PSU</keyword> banks which will have to be filled during course of the year," a senior finance ministry official said.<br /> <br /> This also includes chairman and one managing director of the SBI, which alone has markshare of more than 20 per cent.<br /> <br /> Bhattacharya will complete her four-year term as chairperson of SBI on October 6.<br /> <br /> Besides chairman, SBI has four managing directors looking after different departments.<br /> <br /> The post assumes significance as the bank has recently merged five associates and the Bharatiya Mahila Bank (<keyword id="423104" type="ORGANIZATION" weightage="20" keywordseo="BMB">BMB</keyword>) pushing SBI into the league of top 50 banks globally in terms of assets.<br /> <br /> State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and <keyword id="6560713" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Travancore">State Bank of Travancore</keyword> (SBT), besides BMB, merged with SBI with effect from April 1. The process of integration would at least take a year.<br /> <br /> The government had in February approved the merger of these five associate banks with SBI. Later in March, the Cabinet approved merger of BMB as well.<br /> <br /> SBI first merged <keyword id="82725" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Saurashtra">State Bank of Saurashtra</keyword> with itself in 2008. Two years later, State <keyword id="269823" type="COMPANY" weightage="20" keywordseo="Bank-of-Indore">Bank of Indore</keyword> was merged with it.<br /> <br /> For the fourth quarter ended March 2017, the bank reported more than doubling of its net profit on the back of increased lending and reduction in provisioning for bad loans.<br /> <br /> Net profit of the bank on standalone basis rose to Rs 2,814.82 crore for the March quarter as against Rs 1,263.81 crore in the same period of previous fiscal 2015-16.<br /> <br /> For the entire fiscal ended March 2017, the net profit of the bank improved by 5.36 per cent to Rs 10,484 crore as against Rs 9,951 crore in the previous fiscal.<br /> <br /> With stock prices inching up, SBI has lined up share sale through which it intends to raise Rs 15,000 crore during the current fiscal.<br /> <br /> It is in the process of appointing six merchant bankers for managing its proposed share sale. The central government holds 62.22 per cent stake in the bank as of March 2017.<br /><br />

Who is becoming SBI’s new chief after Bhattacharya?

<br /> Government is considering giving a one-year extension to <keyword id="13222" type="CITY" weightage="100" keywordseo="SBI">SBI</keyword> chief <keyword id="6379603" type="PERSON" weightage="100" keywordseo="Arundhati-Bhattacharya">Arundhati Bhattacharya</keyword> amid the lender's consolidation with its associate banks.<br />
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"There is a need for continuity at a time when the process of consolidation is going on," sources told an agency.<br />
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In this regard, the government is looking at the proposal of granting extension to the current chairperson whose three-year term comes to an end this month, sources added.<br />
<br /> The government has also received views of the <keyword id="2748088" type="UNKNOWN" weightage="20" keywordseo="Bank-Board-Bureau">Bank Board Bureau</keyword> (BBB) on the extension issue and an order in this regard is expected in the next few days, according to the news agency.<br />
<br /> Earlier this year, the <keyword id="6355513" type="ORGANIZATION" weightage="20" keywordseo="cabinet">Cabinet</keyword> gave its nod for the merger of <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword> (SBI) and its associate lenders and <keyword id="6560712" type="UNKNOWN" weightage="20" keywordseo="Bharatiya-Mahila-Bank">Bharatiya Mahila Bank</keyword> (<keyword id="423104" type="ORGANIZATION" weightage="20" keywordseo="BMB">BMB</keyword>) that would make the state-owned lender a global-sized bank.<br />
<br /> SBI has five associate lenders -- <keyword id="229649" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Bikaner">State Bank of Bikaner</keyword> and Jaipur, <keyword id="6560713" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Travancore">State Bank of Travancore</keyword>, State Bank of Patiala, State Bank of Mysore and <keyword id="143585" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Hyderabad">State Bank of Hyderabad</keyword>.<br />
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Among the associate banks, State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Travancore are listed.<br />
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The merged entity will become a banking behemoth, which could compete with the largest in the world, with an asset base of Rs 37 trillion (Rs 37 lakh crore) or over USD 555 billion, 22,500 branches and 58,000 ATMs. It will have over 50 crore customers.<br />
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SBI had said that all its associate banks and BMB will be merged into it that will add an additional Rs 8 lakh crore to its assets.<br />
Presently, SBI has close to 16,500 branches, including 191 foreign offices across 36 countries.<br />
<br /> SBI first merged <keyword id="82725" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Saurashtra">State Bank of Saurashtra</keyword> with itself in 2008. Two years later, State <keyword id="269823" type="COMPANY" weightage="20" keywordseo="Bank-of-Indore">Bank of Indore</keyword> was merged with it.

SBI chief Arundhati Bhattacharya may serve for another year

<br /> Bharatiya Mahila Bank (<keyword id="423104" type="ORGANIZATION" weightage="100" keywordseo="BMB">BMB</keyword>), the first all-women bank that was set up by the <keyword id="6355364" type="ORGANIZATION" weightage="60" keywordseo="UPA">UPA</keyword> government last year, has set tough targets for itself in the coming year i.e. 2014-15. The bank, which recently completed a year, now aims to grow its deposit base in the country and collect Rs 1,000 crore by the end of FY 2014-15.<br />
<br /> BMB's Chairperson and Managing Director <keyword id="1176324" type="PERSON" weightage="100" keywordseo="Usha-Ananthasubramanian">Usha Ananthasubramanian</keyword> shared this information while talking to reporters on the opening ceremony of the bank’s 35th branch in Ghatkopar, Mumbai. She said, "As of today our total business is at Rs 825 crore. For this year, we are aiming advances of Rs 800 crore and deposits at Rs 1,000 crore."<br />
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According to Ananthasubramanian, the BMB banks will soon open their branches in tier II and tier III cities. "We are also planning to roll out 50 offsite ATMs across the country by the end of this year," she said.<br />

India’s First All-women Bank Aims To Collect Rs 1,000 Crore Deposits In FY 2014-15

<ul><li>"An industry known to be a flag-bearer of out-of-the-box thinking seemed to be turning a blind eye to something as pertinent as <keyword id="6372584" type="General" weightage="20" keywordseo="gender-equality" source="Orion">gender equality</keyword>," says Raj Nair, CEO &amp; Chief Creative Officer, Madison BMB. </li><li><keyword id="1546917" type="General" weightage="20" keywordseo="IAA" source="Orion">IAA</keyword> launches a new campaign to bring change. </li></ul>The India Chapter of the International Advertising Association (IAA) is driving  a campaign aimed at the marcom industry, urging it to be more aware and sensitive to gender related issues in all its communication.<br /><br />      <div type="image" title="post R5-03" msid="86360063" hostid="261"></div><br /><keyword id="4722871" type="General" weightage="20" keywordseo="megha-tata" source="Orion">Megha Tata</keyword>, President IAA India &amp; Managing Director – South Asia Discovery Communications India says IAA President Megha Tata," The unique survey we helped UNICEF and the Geena Davis Foundation conduct on the portrayal of women in Indian advertising threw up several interesting findings. We felt that a creative campaign that highlighted these findings could help our content creators focus on such points in a very positive way and collectively become what we call the Voice of Change."<br /><br />Raj Nair, CEO &amp; Chief Creative Officer, Madison BMB, whose team consisting of Rohan Joseph and Vallabh Yeolekar created the campaign, says, "It’s amazing that even in the 21st century, we continue to address bias related to gender, skin tone, male dominated settings when we are simultaneously discovering space tourism, breakthroughs in cancer cures and the like. Just goes to show that even in our seemingly more aware world of communication, these cliched tropes are very much in play."<br /><br />A study of gender representations in ads in India threw up some startling facts. An industry known to be a flag-bearer of out-of-the-box thinking seemed to be turning a blind eye to something as pertinent as gender equality. This campaign puts forward some uncomfortable truths and aims to be an eye-opener for the Indian advertising and media industry to be more aware and sensitive in their thought process. We leaped at the opportunity to hold a mirror to ourselves. And to help IAA continue to be the Voice Of Change."<br />

IAA launches a new campaign to urge the marcom industry to be more aware and sensitive to gender-related issues in all its communication

The finance ministry has asked four large <keyword id="44530" type="COMPANY" weightage="20" keywordseo="PSU">PSU</keyword> lenders to explore opportunities for acquisition of small and mid-sized banks with a goal to create global sized lenders, sources told PTI.<br /> <br /> One of the possibilities is that large public sector banks (PSBs) like Punjab National Bank, Bank of Baroda, Canara Bank and Bank of India could try looking for potential candidates for acquisition, they said.<br /> <br /> So, informally, the finance ministry has sounded them that they should study the possibility for mergers and acquisitions so as to acquire scale and size of <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword> (<keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword>), the sources added.<br /> <br /> There are factors like regional balance, geographical reach, financial burden and smooth human resource transition that have to be looked into while taking a merger decision, they said, adding there should not be merger of a very weak bank with a strong one "as it could pull the latter down".<br /> <br /> However, the clear picture would emerge only after the Niti Aayog report sets the tone and tenure of the roadmap for the second round of consolidation in the banking sector.<br /> <br /> In the last consolidation drive, five associates and Bharatiya Mahila Bank (BMB) became part of SBI on April 1, 2017, catapulting the country's largest lender to among the top 50 banks in the world.<br /> <br /> <keyword id="229649" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Bikaner">State Bank of Bikaner</keyword> and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), <keyword id="4376212" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Patiala">State Bank of Patiala</keyword> (SBP) and <keyword id="6560713" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Travancore">State Bank of Travancore</keyword> (SBT), besides BMB, were merged with SBI.<br /> <br /> With the merger, the total customer base of the SBI reached around 37 crore with a branch network of around 24,000 and nearly 59,000 ATMs across the country. The merged entity began operation with deposit base of more than Rs 26 lakh crore and advances level of Rs 18.50 lakh crore.<br /> <br /> The government in February had approved the merger of these five associate banks with SBI. Later in March, the cabinapproved merger of BMB as well. SBI first merged State Bank of Saurashtra with itself in 2008. Two years later, State <keyword id="269823" type="COMPANY" weightage="20" keywordseo="Bank-of-Indore">Bank of Indore</keyword> was merged with it.<br /> <br /> Enthused by the success of SBI merger, the finance ministry is considering clearing another such proposal in the public sector banking space by this fiscal-end.<br /> <br /> Another round of merger should kick off once the non- performing assets (NPAs) situation improves.<br /> <br /> Toxic loans of public sector banks rose by over Rs 1 lakh crore to Rs 6.06 lakh crore during April-December of 2016-17, the bulk of which came from power, steel, road infrastructure and textile sectors.<br /><br />

This is why the Finance Minister wants to acquire more small and mid-sized banks

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul><li><strong>The Hollywood Reporter reported on Monday that Billy Dee Williams is reprising his role as Lando Calrissian in next year's "Star Wars: Episode IX."</strong></li><li><strong>Fans are excited, but many are also worried that he'll die in the movie.</strong></li></ul><p><em><strong>Warning: This post contains spoilers for "Star Wars: The Force Awakens" and "The Last Jedi."&#xa0;</strong></em></p><p>Lando Calrissian is returning to the "Star Wars" franchise.&#xa0;</p><p>The original Lando, Billy Dee Williams, is reprising his role as the suave smuggler for next year's "Episode IX," according to <a href="https://www.hollywoodreporter.com/heat-vision/star-wars-billy-dee-williams-returning-as-lando-calrissian-xi-1125818" target="_blank" rel="noopener">The Hollywood Reporter</a>. Williams played Lando in the original trilogy's "The Empire Strikes Back" and "Return of the Jedi," while Donald Glover played a young Lando in this year's standalone film "Solo: A Star Wars Story."</p><p>Williams' Lando is one of just a few characters from the original trilogy likely to reprise their roles in "Episode IX" along with Chewbacca, R2-D2, and C-3PO. Harrison Ford's Han Solo and Mark Hamill's Luke Skywalker both died in "The Force Awakens" and "The Last Jedi," respectively. General Leia Organa survived "The Last Jedi," but actress Carrie Fisher passed away in December 2016.</p><p>Fans are thrilled that Williams is returning, but given that both Han and Luke have died in the new trilogy, some are worried that Lando will be the one to perish this time around.</p><p><strong>People are obviously excited about Williams returning:</strong></p><p><strong>But there are a lot who are worried one of their favorite characters from the original "Star Wars" trilogy may meet his end in "Episode IX."</strong></p><p>There are no plot details for the movie at this time, so we don't even know the extent of Lando's role in the movie. But whether he dies or not, hopefully "Episode IX" is a worthy conclusion for Lando.</p><p>"Star Wars: Episode IX" comes to theaters December 20, 2019.</p><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-insects-trained-for-tv-and-movies-spiders-cockroaches-butterflies-mosquitos-hollywood-steven-kutcher-2018-6">How insects are trained for TV and movies</a></h3>        <div>                    </div>    </div></hr>

You Searched For "BMB" and got 6 results

Who is becoming SBI’s new chief after Bhattacharya?

BI India Bureau

SBI chief Arundhati Bhattacharya may serve for another year

BI India Bureau

India’s First All-women Bank Aims To Collect Rs 1,000 Crore Deposits In FY 2014-15

BI India Bureau

IAA launches a new campaign to urge the marcom industry to be more aware and sensitive to gender-related issues in all its communication

BI India Partner

This is why the Finance Minister wants to acquire more small and mid-sized banks

BI India Bureau

'Star Wars' fans are delighted that Billy Dee Williams will return as Lando in 'Episode IX,' but some are worried it means he'll die in the movie

Travis Clark

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