Indian Banks

The South Indian Bank Limited invites applications from Indian nationals having one year of work experience in Scheduled Commercial Banks in the Scale 1/officer cadre for filling up vacancies of Pro.Officers (Scale I). Candidates are requested to apply Online through South Indian Bank’s website.

How To Apply: Candidates are required to apply online through official website from 07/10/2011 to 22/10/2011. Please submit the application in  an envelope super scribed as “Application for the post of Pro.Officer (Scale 1) – Application ref ID – ……(please fill in)……..” and send to “Asst.General Manager (Personnel Dept.), The  South Indian Bank Ltd., Head Office, SIB House, Mission Quarters,Thrissur-680 001,Kerala” along with self attested copies of mark lists and certificates to prove experience, qualification and age. Last date for receipt of application(system generated) with photo and other documents:27/10/2011.

Detailed Notification and Application Form: http://www.southindianbank.com/Careers/careersdetails.aspx?careerid=65

Popularity: 1% [?]

The Reserve Bank of India’s decision to automate the process of filing regulatory reports appears to have opened a door of opportunities for technology firms. Industry players expect banks to invest over Rs 500 crore over the next one year to migrate to the new system of automated data flow. Mid-sized software companies are also sensing an opportunity to cross-sell their other banking software products along with the automated data flow solution.

For instance, iCreate Software, a Bangalore-based information technology firm, has already secured contracts from HDFC Bank, IndusInd Bank and Dhanlaxmi Bank within three months of launching their automated data flow solution Biz$core ADF. IndusInd Bank has decided to use iCreate’s enterprise business intelligence solution along with the automated data flow software. While the latter will help the bank in meeting compliance needs, the business intelligence solution will aid in managing information effectively for business requirements.

Vivek Subramanyam, chief executive officer of iCreate, stressed the need for a technology solution to remove manual intervention in regulatory reporting. “Automated reporting increases the level of confidence on data, and decision-making becomes more accurate,” he told Business Standard. “There are 150 to 250 types of regulatory reports that banks have submit to RBI at periodic intervals. We are completely focussed on this opportunity and are engaging with the entire banking fraternity to position our Biz$core ADF solution.”

He said the company’s automated data flow solution cost “single to early double digits” crore of rupees.

In August, Ramco Systems, a software firm in Chennai, launched an automated data flow solution to help banks adhere to RBI guidelines on submission of regulatory reports without manual intervention. “Our ADF solution,” says Kamesh Ramamoorthy, chief operating officer of the Chennai-bases software firm, “can be deployed on any database management system. It can go live within weeks.”

However, some banks are likely to rely on their in-house teams to develop this software instead of outsourcing it to a technology firm. According to a senior official of a Mumbai-based private sector bank, if the in-house technology team of a bank is strong, then developing the software makes more sense as the lender can customise the solution according to its requirements. Another option is that the bank will build the software on its own, but will seek assistance of a technology firm for integrating it with the main system.

But most banks are expected to use third-party software as they have to comply with RBI’s guidelines within a specified time period. “It is not their core operations,” says an industry expert. “Hence, they will choose products of software companies to meet the guidelines.”

The new guidelines on automated regulatory report filing were released after the central bank was alarmed by the trend of eroding profitability of state-run banks soon after the retirement of the chairman. The move is aimed at minimising the scope of errors and manipulation in reports that are submitted to RBI at periodic intervals by banks.

(BS)

Popularity: 1% [?]

The South Indian Bank Limited invites applications from Indian nationals for the post of Security Officer (Scale II) at Delhi (1) and Mumbai (1). Higher scale will be offered depending upon the qualification and experience.

How To Apply: Application in the prescribed format. Neatly typewritten application with Passport-size photograph pasted thereon should be accompanied by self attested copies of certificates to prove the age, qualifications and relevant experience. Please super scribe the envelope containing the application “APPLICATION FOR THE POST OF SECURITY OFFICER(SCALE II)” and send to GENERAL MANAGER(ADMINISTRATION), THE SOUTH INDIAN BANK LTD, SIB HOUSE, MISSION QUARTERS, THRISSUR – 680 001,KERALA, so as to reach on or before 22.10.2011.

For Detailed Information:  http://www.southindianbank.com/UserFiles/Security%20Officers%20-%20Format%20and%20terms.pdf

Popularity: 1% [?]

Union Bank of India (UBI) is a Leading Pan-India Listed Public Sector Bank, with Head Office in Mumbai, invites Online applications to fill in 370 Post of Customer Relationship Executive on contract basis. Eligible candidates are required to apply on-line from 4th October 2011 to 24th October 2011.

Application Fee: Rs.300/- for General / OBC Candidates. Rs.50 for other candidates.

How to Apply: Candidates are required to apply online Visit UBI Bank’s website ‘www.unionbankofindia.co.in’ and on the Home Page under the link “Careers”, access the Recruitment Notification entitled “UNION BANK RECRUITMENT PROJECT –CRE 2011. Fill in On-Line the required details in the Correct Application Form and SUBMIT the On-Line application on or before 24/10/2011.

Detailed Advertisement:  http://www.unionbankofindia.co.in/UserFiles/Union%20Bank%20-cre%20advertisement%20Obsvn%2019.09%20IBPS.pdf

Popularity: 1% [?]

UCO Bank, Human Resource Management Department (Kolkata), a leading listed Public Sector Bank  invites ON-LINE  applications from  Indian Citizens for the following  Specialist  Officers  posts.

Pay Scales:

JMGS-I:    Rs. 14500- 600/7- 18700- 700/2- 20100- 800/7- 25700
MMGS-II:    Rs. 19400- 700/1- 20100- 800/10- 28100
MMGS-III:  Rs. 25700- 800/5- 29700- 900/2- 31500

Application Fee: Rs.50/- (postage charges only) for SC/ST Candidates. Rs.450/- (Application Fees plus postage charges) for All others including OBC candidates.

How To Apply: Eligible candidates are required to apply only ’ONLINE’ through official website between 26.09.2011 and 17.10.2011.

Detailed Advertisement and further Info: http://recruitment.ucobank.com/job_offers.htm

Popularity: 1% [?]

Central Bank of India (CBI), a leading Public Sector Bank Recruitment of In charges for RSETIs (Rural Self Employment Training Institutes) and FLCCs (Financial Literacy cum Counseling Centres) on Contract basis – 2011-12. CBI looking for retired bank officers in scale III and above, having experience of working in any public sector bank/SBI (i.e. our Bank/any other Public Sector Bank/State Bank of India) and with relevant expertise, for recruitment on contract as Incharges for its RSETIs and FLCCs already opened and to be opened.

How To Apply: Eligible candidates have to submit their applications in the prescribed format. Last date for receipt of application is 15.10.2011. No applications shall be entertained beyond the stipulated date. Address the application, Super scribing “Application for the post of Recruitment as In charge of RSETI/FLCC on contract” to “Zonal Manager, Central Bank of India, Zonal Office, Bhagagarh, Guwahati -781 005.”

For Detailed Information: Click here

Popularity: 1% [?]

Indian insurance companies would spend $1.8 billion on information technology (IT) products and services in 2012, an increase of 11.7 per cent over the expenditure of $1.6 billion in 2011, according to Gartner Inc. The forecast includes spending by insurers on internal IT, hardware, software, external IT services and telecommunications.

Telecommunications represents the biggest spending category, and expenditure on this is estimated to touch $566 million in 2012, up from $512 million in 2011. However, spending on IT services is expected to grow the fastest in 2012, with the expenditure standing at $447 million in 2012, a rise of 15.8 per cent compared with $386 million in 2011, according to the study.

Indian insurers are faced with an opportunity to transform significant aspects of their operations through technology, across the entire insurance business value chain.

“Indian insurers have shown they are particularly forward, with regard to considering alternative delivery models such as business process outsourcing,” said Derry Finkeldey, principal analyst, Gartner. “External factors, such as regulatory change, uncertain economic conditions and the increasing frequency of catastrophic events, are forcing insurers to reassess their approaches to business processes and the IT applications that enable them to derive greater efficiency and achieve more with less.”

“Insurers are looking for ways to streamline their processes, from the front office to the back office, and are investing in the next generation of core solutions to help them do that,” said Finkeldey. “These solutions often integrate business process management and analytics capabilities, or are offered in an ‘as a service’ model,” he said.

(BS)

Popularity: 1% [?]

Bankers continue to fret over the quality of assets, as the Reserve Bank of India (RBI) gears up to review the monetary and credit policy for 2011-12 this month. At the pre-policy meeting, in which the apex bank takes stock of liquidity conditions and credit demand, bankers said more rate increases would further hurt the repayment capabilities of borrowers.

Bankers also sought that the regulator allow the restructuring of accounts for a second time. “We have made a suggestion to consider the need for second-time restructuring for companies or units whose debt was reworked once, after the financial crisis in 2008,” said a senior banker who attended the meeting.

RBI has raised key policy rates 12 times since March 2010 to tame the persistently high inflation. It is scheduled to announce the half-yearly review of monetary and credit policy on October 25.

“Overall, there is pressure as far as asset quality is concerned,” said M D Mallya, chairman and managing director of state-owned Bank of Baroda. The repo rate, at which banks borrow from RBI, has been raised by 150 basis points, including two 50-basis point rises, since the start of the current financial year. Most banks have passed on the increase in cost to customers, leading to concern that high lending rates may result in more defaults.

An increase in non-performing assets (NPAs) would also translate into a higher need for provisioning, according to RBI norms. “The problem of NPAs and slippages is equally worrisome in case of corporates, in addition to small and medium units,” said Mallya. Pointing to the sectors under pressure, Mallya said, “One is the textile sector, which has gone into trouble because cotton prices have come down substantially. The other is the steel industry.”

The demand for credit has declined, since interest rates continued to rise. “Credit growth is muted, capex is virtually at a standstill and investment is not really happening,” K Ramakrishnan, chief executive of the Indian Banks Association, told reporters after attending the meeting.

According to RBI data, credit growth slowed from 20.6 per cent in March to 19.8 per cent in August. Ramakrishnan said banks were only disbursing past sanctions.

(BS)

Popularity: 1% [?]