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Mumbai, White-collar hiring witnessed an 8.6 per cent annual decline in September, following a negative trend in sectors including IT, BPO or ITES and <keyword id="34523" type="General" weightage="80" keywordseo="fmcg" source="Orion">FMCG</keyword>, a report said on Monday. On a month-on-month basis, however, there has been a growth of almost 6 per cent in job postings. In September, there were 2,835 white-collar job postings, down by 8.6 per cent compared to the same month last year when 3,103 jobs were posted, according to <keyword id="218117" type="General" weightage="20" keywordseo="naukri-com" source="Orion">Naukri.com</keyword>'s monthly 'Naukri JobSpeak Index'. The Naukri JobSpeak is a monthly Index representing the state of the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on the resume database of Naukri.com. The IT sector continued to face global headwinds and saw the hiring numbers dwindle in the last few months, the survey said, adding that <keyword id="1400942" type="General" weightage="20" keywordseo="bpo/ites" source="Orion">BPO/ITES</keyword> and FMCG also registered negative growth of 25 per cent and 23 per cent, respectively, in the period under review. "While the IT sector continues to stay impacted, robust growth in the banking sector is a bright spot. Coupled with the fact that the overall index sequentially grew 6 per cent, this underscores the resilience of the Indian job market, anchored in sectoral diversity," Naukri.com Chief Business Officer Pawan Goyal added. The report further noted that the hospitality and travel industry saw maximum growth, as families and solo travellers made the most of the monsoon season. New job offers for this sector were highest in Mumbai city with job roles for restaurant manager and guest services were in highest demand in September. Banking, financial services and insurance (BFSI) and healthcare sectors clocked 7 per cent yearly growth each in September. Branch manager and financial consultant roles saw maximum demand, said the report. Oil and gas and auto sectors recorded 6 per cent growth each in September compared to the same month last year, said the report. Meanwhile, the report found that the non-metro cities continued to outshine the metros for job creation in September 2023. The cities of <keyword id="6356811" type="General" weightage="20" keywordseo="vadodara" source="Orion">Vadodara</keyword>, Ahmedabad, and <keyword id="6354779" type="General" weightage="50" keywordseo="jaipur" source="Orion">Jaipur</keyword> experienced 4 per cent, 3 per cent and 2 per cent growth, respectively in hiring in September over the same month last year.

White-collar hiring sees 8.6% decline in September says Naukri report

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. 
 
"There is a need for continuity at a time when the process of consolidation is going on," sources told an agency. 
 
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. 
 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. 
 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. 
 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>. 
 
Among the associate banks, State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Travancore are listed. 
 
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. 
 
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. 
Presently, SBI has close to 16,500 branches, including 191 foreign offices across 36 countries. 
 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

India’s largest lender <keyword id="6354731" type="CITY" weightage="100" keywordseo="State-Bank-Of-India">State Bank of India</keyword> (<a href="http://www.businessinsider.in/SBI-aims-for-unbanked-rural-India-for-business-correspondent-model/articleshow/53315581.cms">SBI</a>) has approved the merger of its operations with six associate banks, viz. <keyword id="6560713" type="COMPANY" weightage="100" keywordseo="State-Bank-of-Travancore">State Bank of Travancore</keyword>, <keyword id="4376211" type="COMPANY" weightage="100" keywordseo="State-Bank-of-Mysore">State Bank of Mysore</keyword>, <keyword id="4376209" type="UNKNOWN" weightage="100" keywordseo="State-Bank-Of-Bikaner-and-Jaipur">State Bank of Bikaner and Jaipur</keyword>, <keyword id="143585" type="COMPANY" weightage="100" keywordseo="State-Bank-of-Hyderabad">State Bank of Hyderabad</keyword>, <keyword id="4376212" type="COMPANY" weightage="100" keywordseo="State-Bank-of-Patiala">State Bank of Patiala</keyword>, and Mahila Bank. 
 It was in June that the centre had given the go-ahead to merge <keyword id="13222" type="CITY" weightage="100" keywordseo="SBI">SBI</keyword> with five of its associate lenders and <keyword id="6560712" type="UNKNOWN" weightage="100" keywordseo="Bharatiya-Mahila-Bank">Bharatiya Mahila Bank</keyword>, thus increasing the chances of it breaking into the top 50 list of Bloomberg's largest bank by asset ranking. 
 
Marking the first ever large-scale consolidation in the Indian banking industry, the merger will result in SBI becoming a huge banking entity with an asset book of Rs 37 lakh crore. 
 
Also read: <a href="http://www.businessinsider.in/SBI-directs-associate-banks-to-clean-up-books-before-merger/articleshow/53611963.cms">Clean up books before merger, SBI directs associate banks</a> 
 
As per the terms of the merger, SBI will give 28 of its shares for every 10 shares held of State Bank of Bikaner and Jaipur, while for every 10 shares held of State Bank of Mysore as well as State Bank of Travancore, it will give 22 of its shares. 
 
For for every 100 crore equity shares of Bhartiya Mahila Bank, SBI will be giving 4,42,31,510 shares with face value of Re. 1. 
 
Also read: <a href="http://www.businessinsider.in/SBI-Chairman-blames-stalled-projects-for-Indian-banking-sector-stress/articleshow/53080413.cms">Stalled projects from 2011 to 13 have put Indian banking sector into stress, says SBI Chairman</a> 
 
Comparing post-merger SBI with India’s second largest bank <a href="http://www.businessinsider.in/At-745-million-this-ICICI-Pru-Life-IPO-is-Indias-biggest-in-six-years/articleshow/53265064.cms">ICICI</a>, its asset base will become five times as big as ICICI’s. 
 
<a href="http://3.bp.blogspot.com/_NfBLGD5BAo8/TVOzs86G8WI/AAAAAAAAASE/H6PHjHGPWcY/s1600/IMG_1930.JPG">Image source</a>

Six banks are going to merge into SBI

<ul><li><keyword id="13222" type="General" weightage="20" keywordseo="SBI" source="Orion">SBI</keyword> is inviting applications from all eligible candidates for the position of circle based officers (CBOs) across various cities in India.</li><li>The last date to apply for the opportunity is December 29, 2021.</li><li>The basic pay or the starting salary given to the candidates would be ₹36,000 per month.</li></ul><keyword id="6354731" type="General" weightage="20" keywordseo="State-Bank-of-India" source="Orion">State Bank of India</keyword> (SBI) is inviting applications from all eligible candidates for the position of circle based officers (CBOs) across various cities in India. The last date to apply for the opportunity is December 29, 2021. Interested candidates can apply <a href="https://ibpsonline.ibps.in/sbircbonov21/">here</a>. The basic pay or the starting salary given to the candidates would be ₹36,000 per month with one increment for each completed year of service rendered in the office. . The official will also be eligible for dearness allowance (D.A), house rent allowance (H.R.A)/lease rental, city compensatory allowance (C.C.A), medical and other allowances &amp; perquisites as per rules in force from time to time. The selection procedure consists of three stages — online written exam, screening and personal interview. The online test will be conducted in the month of January next year (2022). Candidates applying for or selected for below mentioned circle/city should be well-versed with the local language. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Circle/city </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;">Language required </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></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;">Ahmedabad </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;">Gujarati </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;">354 </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;">Bengaluru </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;">Kannada </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;">278 </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;">Bhopal </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;">Hindi </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;">214 </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;">Chennai </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;">Tamil </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;">278 </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;">Jaipur </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;">Hindi </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;">104 </td></tr></tbody></table> Eligibility criteria — <ol><li>Graduation in any discipline from a recognised university or any equivalent qualification recognised as such by the central government. </li><li>The minimum age criteria is 21 years and the maximum age criteria is 30 years. </li><li>Minimum 2 years of experience (post-essential academic qualification experience) as on 01.12.2021 as an officer in any scheduled commercial bank or any regional rural bank as listed in the second schedule of Reserve Bank of India. </li><li>The candidates applying for vacancies of a particular state, should be proficient (reading, writing and understanding) in the specified opted local language of that state. </li><li>Candidates with record of default in repayment of loans/credit card dues or against whose name adverse report of CIBIL or other external agencies are available are not eligible for appointment. The position in this regard will be verified before joining.</li></ol>Selection procedure — The selection process consists of an online written test, screening and interview. Online written test: The duration of objective test is 2 hours and it consists of 4 sections — English language (30 marks), banking knowledge (40 marks), general awareness/economy (30 marks), and computer aptitude (20 marks) — of total 120 marks with separate timing for every section. The duration of the descriptive test is 30 minutes. It will be a test of English language (letter writing and essay) with two questions for a total of 50 marks. Screening: Online application and documents of candidates, who are shortlisted based on performance in online examination, will be placed before the screening committee. The screening committee constituted by the bank will examine whether the candidates fulfil the required eligibility criteria of experience. Interview: Interview will consist of 50 marks. Candidates will have to score minimum qualifying marks in the interview to be considered for final selection. The minimum qualifying marks will be decided by the bank. Candidates belonging to general category will have to pay an application fee of ₹750 while filling the application form. Interested candidates can seek more information <a href="https://sbi.co.in/documents/77530/11154687/081221-CBO-21+Final+Detailed+Advt+ENG.pdf/6d3a8188-f5a6-e9dd-98fc-e580796a0766?t=1638963781497">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/michelle-obama-is-the-most-admired-woman-in-the-world/slidelist/88302252.cms">Michelle Obama is the most admired woman in the world</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/moschip-technologies-asm-technologies-and-spel-semiconductor-among-chip-makers-stock-that-surged-on-pli-scheme/articleshow/88306809.cms">Checkout chip makers’ stocks that surged on PLI scheme; industry leaders feel the move will make India self-reliant</a>

SBI is hiring 1200 circle based officers across India with a minimum pay of ₹36,000 per month

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. 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. 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. 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". 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. 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. <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. 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. 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. 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. Another round of merger should kick off once the non- performing assets (NPAs) situation improves. 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.

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

<ul><li>The <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI) had earlier announced a three-month relaxation suspending all service charges and limitations on ATM withdrawals. </li><li>The relaxations expire on June 30, and no extension has been announced. </li><li>Old ATM withdrawal rules are likely to get reinstated making transactions more expensive. </li></ul>The State Bank of India (SBI) is going back to its original ATM withdrawal limits and rules. The three-month relaxation of no service charges rolled out during the coronavirus lockdown comes to an end on July 1. The changes were brought in by the SBI after the Finance Minister Nirmala Sitharaman announced on March 24 that no charges will be levied on cash withdrawal made from any other bank’s ATMs for 3 months — April, May, and June — for bank customers. Till now, the SBI has not announced an extension, which means the old ATM withdrawal rules are likely to get reinstated. Withdrawals made from SBI ATMs and other bank ATMs exceeding the free limit of transactions will be charged. SBI’s new ATM withdrawal limits and charges for savings account holders of average monthly balance of up to ₹25,000: <ol><li>Five free ATM transactions at SBI ATMs in metro cities (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad). </li><li>Three free ATM transactions at non-SBI ATMs in metro cities. </li><li>Five free ATM transactions at SBI ATMs in non-metro cities. </li><li>Five free ATM transactions at other bank ATMs in non-metro cities. </li></ol>Chargeable transactions: <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 #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">After the free transactions… </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;">SBI ATMs </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;">Other bank ATMs </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;">Financial transactions </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;">₹10 plus GST </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;">₹20 plus GST </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;">Non-financial transactions </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;">₹5 plus GST </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;">₹8 plus GST </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;">Transaction declined due to insufficient balance </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;">₹20 plus GST </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;">₹20 plus GST </td></tr></tbody></table> SBI’s new ATM withdrawal limits and charges for savings account holders of average monthly balance of over ₹25,000 and up to ₹1 lakh: <ol><li>Unlimited free transactions at all ATMs within the State Bank Group — this includes SBI ATMs, State Bank of Hyderabad ATMs, State Bank of Bikaner and Jaipur ATMs, State of Indore ATMs, State Bank of Patiala ATMs and others. </li><li>Eight free transactions at other bank ATMs — three in metro cities and five in non-metro areas. </li></ol>Chargeable transactions: <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 #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">After the free withdrawals… </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;">SBI ATMs </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;">Other bank ATMs </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;">Financial transactions </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;">N/A </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;">₹20 plus GST </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;">Non-financial transactions </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;">N/A </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;">₹8 plus GST </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;">Transaction declined due to insufficient balance </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;">N/A </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;">₹20 plus GST </td></tr></tbody></table> For all salary account holders, SBI will offer free unlimited transactions at all SBI group ATMs and other bank ATMs. SEE ALSO: <a href="https://www.businessinsider.in/business/news/sbi-launches-yono-branches-in-three-cities/articleshow/76708883.cms">SBI launches Yono branches in three cities</a> <a href="https://www.businessinsider.in/tech/news/sbi-warns-2-million-users-may-be-at-risk-of-phishing-attacks-in-delhi-mumbai-and-other-major-cities/articleshow/76505433.cms">SBI warns 2 million users may be at risk of phishing attacks in Delhi, Mumbai and other major cities</a>

SBI's new ATM withdrawal rules and limits in July

<ul><li>The <keyword id="6359231" type="General" weightage="20" keywordseo="Central-Bank-of-India" source="Orion">Central Bank of India</keyword> is recruiting 115 people in India under various profiles like Data Scientist, Economist, Income Tax officer and many more.</li><li>The online applications for all these positions will commence on November 23, 2021 and the last date to apply is December 17, 2021.</li><li>Candidates will also have to pay an application fee of ₹850 plus GST.</li></ul>Central Bank of India, a Mumbai-based government owned bank, is recruiting 115 people in India under various profiles like Data Scientist, Economist, Income Tax officer and many more. The online applications for all these positions will commence on November 23, 2021 and the last date to apply is December 17, 2021. These are the roles available with the Central Bank of India — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Role </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;">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;">Economist </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;">1 </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 5 years of work experience in commercial banks or any other PSUs with PhD in Economics/ banking/commerce /economic policy/public policy. </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;">Income Tax Officer </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;">1 </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;">Chartered Accountant (preferably passed in one attempt) with minimum 10 years post qualification experience (as on 30.09.2021) in the field of direct taxation -- supervisor in any financial institution/PSU bank/private sector banks/big four CA firm/category 1 chartered accountant firm prescribed for bank audit as per RBI guidelines. </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;">Information Technology (scale V) </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;">1 </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 10-12 years’ experience in a similar role in designing and launching digital products/platforms in BFSI Sector or Fintech companies with compulsory bachelor’s or master’s degree in engineering disciplines like computer science/information technology(IT)/electronics and communication or master’s in computer application from any recognised university or institution. </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;">Data Scientist </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;">1 </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 8-10 years of relevant post-qualification experience in the area of data analytics/data science/data statistics/data mining in commercial bank/financial companies/financial services organisations/IT services companies with financial domain with Post graduate degree in statistics/econometrics/mathematics/finance/economics/computer science or bachelor’s of engineering (B.E)/bachelor’s of technology (B.Tech) in computer science/IT from any recognised university or institute. </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;">Credit Officer </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;">10 </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;">Chartered Accountant (CA)/ chartered financial analyst (CFA) with three years of post qualification experience Or MBA in finance with at least 4 years of post qualification work experience. </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;">Data 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;">11 </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 5 years of relevant post-qualification experience in the area of data analytics/data science/data statistics/data mining in commercial bank/financial companies/financial services organisations/IT services companies with financial domain with post graduate degree (or equivalent diploma) in statistics/econometrics/mathematics/finance/economics/computer science or B.E./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;">IT Security Analyst </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;">1 </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 post-basic qualification experience in IT, out of which minimum 3 years in ethical hacking /red teaming /threat hunting /application security/digital forensic analysis with engineering graduate in computer science /IT/master’s in computer application(MCA) /master’s in science (IT or computer science) from recognised university or institute. </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;">IT SOC Analyst </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;">Minimum 6 years of post-basic qualification experience in IT, out of which minimum 3 years in operations like event analysis, rule creation, automation,asset integration, incident management, monitoring and compliance with graduation in engineering in computer science /IT/MCA / M.Sc.(IT or computer science) from a recognised university or institute. </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;">Risk Manager </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;">5 </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 3 years post-qualification experience in risk management/credit / treasury with MBA in finance/ banking or post graduate diploma in banking/finance/statistics. </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;">Technical Officer (Credit) </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;">5 </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;">3 years of experience in total enterprise value (TEV) study or project appraisal with banks or financial institutes with a degree in engineering in civil/mechanical/production/metallurgy /textile/chemical. </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;">Financial Analyst </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;">20 </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;">CA or MBA in finance with 3 years experience as an officer in a public sector bank/undertaking in the reputed field. </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;">Information Technology (scale II) </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;">15 </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 years of work experience in the IT field with 3 years engineering degree in computer science/computer applications/information technology/electronics/ electronics and telecommunications /electronics and communications /electronics and instrumentation. </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;">Law Officer </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;">20 </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;"> 3 years of post-qualification experience of practice at Bar or Judicial service or 2 years as a law officer in the legal department of a scheduled commercial bank or the central/state government or of a public sector undertaking. </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;">Risk Manager </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;">10 </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 2 Years of post-qualification experience in risk management/credit/treasury with MBA/post graduate diploma in banking/finance or post graduate in statistics/math/banking &amp; finance with aggregate of at least 60% marks from any Indian university or institute. </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;">Security (scale I &amp; II) </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 scale I — Ex-Junior commissioned officers with minimum 5 years of service as JCO in Indian Army or equivalent rank from Air Force, Navy and Para Military Forces. For scale II — Ex-Commissioned officers of the Rank of Captain or above from Indian Army with minimum 5 years service or equivalent rank from Air Force, Navy and Para Military Forces. </td></tr></tbody></table> Selection procedure — <ol><li>Selection will be done through an online written test and personal interview. </li><li>The online test is scheduled for January 22, 2022 at these locations -- Ahmedabad, Bengaluru, Bhubaneshwar, Bhopal, Chennai, Chandigarh, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Pune, Raipur &amp; Patna centres. </li><li>Candidates who manage to clear the online test will be called for the next round i.e., personal interview.</li></ol> Candidates will also have to pay an application fee of ₹850 plus goods and services tax (GST) ( for applicants belonging to general category) and ₹175 plus GST (for applicants belonging to schedule caste (SC) or schedule tribe (ST). Interested candidates can seek out more information <a href="https://www.centralbankofindia.co.in/sites/default/files/2021-11/Notification_Recruitment_of_Specialist_Officers-2022-23.pdf">here</a> and can apply <a href="https://www.centralbankofindia.co.in/en/recruitments">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/if-you-are-travelling-from-india-to-singapore-heres-how-to-apply-for-your-vaccinated-travel-pass/articleshow/87846159.cms">If you are travelling from India to Singapore, here’s how to apply for your Vaccinated Travel Pass</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/oppo-reportedly-plans-to-launch-electric-vehicles-in-india-by-2024/articleshow/87846882.cms">Oppo reportedly plans to launch electric vehicles in India by 202</a>

Central Bank of India is hiring for 115 vacancies across various domains

<ul><li>Rajnish Kumar, the chairman of <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI) said that additional mergers with smaller banks would give the bank <keyword id="67392" type="ENTERTAINMENT" weightage="20" keywordseo="Monopoly">monopoly</keyword> powers. </li><li>Kumar’s statement comes a few days after the Indian government ordered the <keyword id="42411" type="PERSON" weightage="20" keywordseo="Merger">merger</keyword> of Bank of Baroda, Vijaya Bank and Dena Bank in lieu of further mergers of state-owned banks. </li><li>In April 2017, SBI began the process of merging with five of its subsidiaries- State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad as well as Bharatiya Mahila Bank. </li></ul>Rajnish Kumar, the chairman of State Bank of India (SBI) has categorically ruled out any absorption of smaller banks by SBI in the short term. Speaking to media outlets in New Delhi, Kumar’s statement comes a few days after the Indian government ordered <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">the merger </a>of Bank of Baroda, Vijaya Bank and Dena Bank in lieu of further mergers of state-owned banks. SBI is India’s largest bank, holding a little under a quarter of all the assets in the banking system, which begs the question: how much room does it have for economies of scale from mergers? While Kumar agreed that there were far too many public sector banks in India and that they required <keyword id="76844" type="PERSON" weightage="20" keywordseo="Consolidation">consolidation</keyword> for improved management and capital strength, he explained that any further acquisitions of state-owned banks by SBI would give it monopoly powers. Kumar added that SBI was still focussing on the integration of the six banks it absorbed last year, explaining that it would take around two to three years for the synergies from the merger to start manifesting themselves. In April 2017, SBI began the process of merging with five of its subsidiaries- State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad as well as Bharatiya Mahila Bank. While the merger proved to be a drag on SBI’s profitability and added to its already-high level of non-performing loans and provisioning requirements, Kumar said <a href="https://www.thehindubusinessline.com/money-and-banking/sbi-to-be-back-in-black-from-sept-quarter-says-chairman/article24773447.ece">last month</a> that he expected the bank to report a profit in the quarter ending September. Separately, Kumar said that SBI was on course to resolve around 7 to 8 stressed power accounts before the expiration of the Supreme Court’s grace period on 11 November. The resolution of around ₹170 billion worth of non-performing loans will come as a significant relief to the bank, which currently holds nearly 20% of all the bad loans in India’s banking sector.

The chairman of India’s largest bank has said that it shouldn’t absorb any more banks

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. "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. This also includes chairman and one managing director of the SBI, which alone has markshare of more than 20 per cent. Bhattacharya will complete her four-year term as chairperson of SBI on October 6. Besides chairman, SBI has four managing directors looking after different departments. 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. 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. 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. 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. 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. 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. 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. 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. 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.

Who is becoming SBI’s new chief after Bhattacharya?

Andhra Bank, Punjab and <keyword id="149809" type="COMPANY" weightage="20" keywordseo="Sind-Bank">Sind Bank</keyword> and <keyword id="6361176" type="CITY" weightage="20" keywordseo="State-Bank">State Bank</keyword> of No matter whether the banks got a logo makeover or looks chic inside, not a single public service bank has secured a position in Top 10 chart of service standards, as shown by the <keyword id="414760" type="ORGANIZATION" weightage="20" keywordseo="Banking-Codes-and-Standards-Board-of-India">Banking Codes and Standards Board of India</keyword> (BCSBI). And the ones coming in the top 5 are RBL Bank, Standard Chartered Bank, Yes Bank, Citibank and HSBC. Punjab National Bank, State Bank of Bikaner and Jaipur, Andhra Bank, Punjab and Sind Bank and <keyword id="4376212" type="COMPANY" weightage="20" keywordseo="State-Bank-of-Patiala">State Bank of Patiala</keyword> have hit the lowest position. The BCSBI - a body set up by the Reserve Bank of India (RBI) - is a society of banks that prescribes minimum service standards for lenders. By promising adherence to the codes, banks spell out the minimum service standards customers can expect. According to <keyword id="6474066" type="COMPANY" weightage="20" keywordseo="economic-times">Economic Times</keyword> report, the survey was conducted using five parameters - information dissemination, transparency, grievance redressal, customer centricity and customer feedback. Banks have been ranked in each of the parameters and an overall rank has been provided. When compared to the last such survey in 2015, both public sector and private sector banks have seen their score drop across all parameters, except grievance redressal. Foreign banks have improved their performance on transparency, customer feedback and customer centricity. Andhra Bank, Punjab and Sind Bank and State Bank of No matter whether the banks got a logo makeover or looks chic inside, not a single public service bank has secured a position in Top 10 chart of service standards, as shown by the Banking Codes and Standards Board of India (BCSBI). And the ones coming in the top 5 are RBL Bank, Standard Chartered Bank, Yes Bank, Citibank and HSBC. Punjab National Bank, State Bank of Bikaner and Jaipur, Andhra Bank, Punjab and Sind Bank and State Bank of Patiala have hit the lowest position. The BCSBI - a body set up by the Reserve Bank of India (RBI) - is a society of banks that prescribes minimum service standards for lenders. By promising adherence to the codes, banks spell out the minimum service standards customers can expect. According to Economic Times report, the survey was conducted using five parameters - information dissemination, transparency, grievance redressal, customer centricity and customer feedback. Banks have been ranked in each of the parameters and an overall rank has been provided. When compared to the last such survey in 2015, both public sector and private sector banks have seen their score drop across all parameters, except grievance redressal. Foreign banks have improved their performance on transparency, customer feedback and customer centricity.

These government banks have the worst service record, according to RBI approved body

New Delhi, Apr 1 () The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday. Six public sector banks (PSBs) namely Oriental Bank of Commerce, United Bank of India, Syndicate Bank, Andhra Bank, Corporation Bank and Allahabad Bank lost their individual identity as they were merged into four bigger lenders with the objective to make them globally competitive. "PSBs' amalgamation today will mark a new dawn for #IndianBanking. Bigger &amp; stronger PSBs to to offer faster loan processing, banking @ home, need-driven credit &amp; specialized products for customers," the Department of Financial Services, which comes under the Ministry of Finance, said in a tweet. The exercise assumed significance as it took place at a time when the entire country is under the grip of the COVID-19 outbreak, which has triggered a 21-day nation-wide lockdown. Earlier in the day, Punjab National Bank said all nation-wide branches of United Bank of India and Oriental Bank of Commerce has started functioning as PNB branches. The merger has created the second largest nationalised bank of the country - both in terms of business and branch network after the State Bank of India (SBI). The amalgamated bank will have a wider geographical reach through 11,000 plus branches, more than 13,000 ATMs, one lakh employees and a business mix of over Rs 18 lakh crore. "The bigger geographical footprint will help us serve our customers more effectively and efficiently," said PNB managing director S S Mallikarjuna Rao said. Experts were of the opinion that merger at this point of time will not be very smooth and seamless. However, heads of the anchor banks exuded confidence. "We don't foresee any problem it is going as per the plan. We have reviewed in the light of this situation also. Certain modification in implementation we have done so that there is no disruption for employees and customers. We are ensuring zero disruption," Union Bank of India Managing Director Rajkiran Rai G told . The four anchor banks -- PNB, Canara Bank, Union Bank and Indian Bank -- are postponing some part of the implementation and processes due to the lockdown. "For merging banks, we have not changed some of the process like loan process etc, which we proposed to do earlier. However, because of the prevailing situation, we will be continuing old system till the situation comes under control," he said. With the merger, the bank looking at more than Rs 2,500 crore of synergy benefits in the next three years, he added. As per the mega consolidation plan announced in August last year, Oriental Bank of Commerce and United Bank of India is merged into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. Following the consolidation, there will be now seven large public sector banks (PSBs), and five smaller ones. There were as many as 27 PSBs in 2017. The total number of public sector banks in the country has come down to 12. The merger has resulted in the creation of seven large PSBs with scale and national reach, with each amalgamated entity having business of over Rs 8 lakh crore. These banks now have scale comparable to global banks and capable of competing effectively in India and globally. In addition, the consolidation is expected to provide impetus to the merged entities by increasing their ability to support larger ticket-size lending and have competitive operations by virtue of greater financial capacity. Last year, Dena Bank and Vijaya Bank were merged with Bank of Baroda. Prior to this, the government had merged five associate banks of SBI and Bharatiya Mahila Bank with the public sector bank. These were State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore and State Bank of Hyderabad effective April 2017. DP MKJMKJ

You Searched For "State Bank Of Bikaner and Jaipur" and got 11 results

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