Thursday, July 28, 2011

Andhra Bank plans to open 100 branches

As all the banks are on an expansion spree, Andhra Bank has also made sure that it is not left behind. The lender is planning to open 100 new braches outside Andhra Pradesh. The bank has already sent the proposal to Reserve Bank of India for approval.

The Chairman and Managing Director of the bank, Mr. R. Ramachandran said “In order to become a pan-India bank Andhra Bank has been steadily increasing its branches in the western, northern and eastern parts of the country during the last three years.”

Monday, July 18, 2011

Barclays to axe 50 jobs in India

Barclays, U.K. based bank is going to merge the teams for servicing corporate clients in India of commercial banking division and its investment banking unit- Barclays Capital, and because of the merger Barclays has to cut jobs in India.

The Hong-Kong based spokeswoman for Barclays, Ms. Clare Williams said "Last week a small number were informed that as a result of the decision to combine the two teams that, regrettably, their jobs fell away."

The bank has already made 25 job cuts and another 25 are expected to follow in a few months.

Friday, July 1, 2011

Bank strike rescheduled for August 5

The shifting of the Parliament session has affected the schedule of the strike of the bank employees that was to be observed on July 7 but now it has been shifted to 5th August.

The General Secretary of All India Bank Employee Association, Mr. C.H. Venkatachalam said “When there is a bank strike during Parliament session it will be debated as many issues relate to the Government.”

AIBEA is a very huge Union that consists of 5 lakh bank employees from 25 Public sector banks, 11 private sector banks and 8 foreign banks.

Mr. Venkatachalam also said “If our strike does not yield results, we will intensify our agitation by having repeated and continuous strikes.”

The bank employees are demanding no privatization of public sector banks, non merger of banks and ban on outsourcing.