Indian Banks

State bank of India(SBI) recruitment of  Specialist Officers in Associate Banks of State Bank of India. State Bank Group wishes to recruit Specialist Officers in its Associate Banks for the posts in various fields.

Post Name: Specialist Officers

Application Fee: Rs.50/- only postal charge for SC/ST/PH/XS candidates For all others Rs.500/-

How To Apply: Apply On-line from 24/08/2010 to 25/09/2010. The computer generated application along with necessary photocopies and application fees & / postage fee receipt should reach on or before 30/09/2010 by ordinary post.

For Online Application Click on the following SBI link: http://registration.sifyitest.com/sbisplofficer/index.php

For Advertisement Click on the following link:
http://sbi.co.in/webfiles/uploads/files/1282718056981_CRPD_SBI_ADVERTISEMENT.pdf

Popularity: 3% [?]

State Bank of India is looking for Specialist Cadre Officers (SCO). Advertisement No: CRPD/SCO-SBI/2010-11/01. Contractual Appointment on CTC Basis : Defence Banking Advisors (DBA) & Circle Defence Banking Advisors (CDBA).

1. Defence Banking Advisor (Army) – 01 post (GEN)
Age Limit : 62 years
Qualifcation : Lt. General or Major General

2. Defence Banking Advisor (Air Force) – 01 post (GEN)
Age Limit : 62 years
Pay Scale : Rs. 20 lacs CTC basis. Basic pay is Rs.1,00,000 p.m. and remaining portion of CTC will be paid as HRA, conveyance allowance, and others.
Qualification : Air Marshall or Air Vice Marshall

3. Defence Banking Advisor (Navy) : 01 post
Age Limit : 62 years
Pay Scale : Rs. 20 lacs CTC basis. Basic pay is Rs.1,00,000 p.m. and remaining portion of CTC will be paid as HRA, conveyance allowance, and others.
Qualification : Vice Admiral or Rear Admiral

4. Circle Defence Banking Advisor (Army) : 10 posts
Age Limit : 58 years
Pay Scale : CTC Rs. 16 lacs at Metro centres and Rs. 14 lacs at other centres. The basic pay is Rs. 80,000/- p.m. and remaining portion will be paid as HRA, conveyance
allowance and others.
Qualfication : Major General or Brigadier

5. Circle Defence Banking Advisor (Air Force) : 02 posts
Age Limit : 58 years
Pay Scale : CTC Rs. 16 lacs at Metro centres and Rs. 14 lacs at other centres. The basic pay is Rs. 80,000/- p.m. and remaining portion will be paid as HRA, conveyance
allowance and others.
Qualification : Air Vice Marshall or Air Commodore

6. Dy. Manager (Security) (MMGS – II) – 31 posts (SC-05, ST-03, OBC-07, GEN-17)
Qualification : An officer with minimum 5 years commissioned service in Army/Navy/Air Force or a Police Officer not below the rank of ASP/Dy. SP with minimum
5 years service in that rank or officer of identical rank with minimum 5 years service in para-military services. Officers from the fighting arms will be given preference.
Age Limit : 35 years
Pay Scale : Rs. 13820-500/1 – 14320 – 560/10 – 19920

7. Asstt. Manager (Fire) (JMGS – I) – 07 posts (OBC-02, GEN-05)
Qualfication : Graduate of the Institute of Fire
Engineers (India/UK) or should have completed Divisional Officers Course at National Fire Service College (NFSC), Nagpur or should be B.E. (Fire)from NFSC.
Age Limit : 30 years
Pay Scale : Rs. 10000 – 470/ 6 -12820 – 500/3 – 14320 – 560/7 – 18240

Application : SC/ST – Rs.50/-, All Others – Rs. 500/- to be deposited in any CBS branch of SBI in prescribed voucher challan format to be credit in any branch of SBI.

How To Apply : Application in the prescribed format should reach the following address only on or before 15/07/2010 :
Post Box No. 11814, Kharodi, Malad (West), Mumbai – 400095.

Further Details : http://www.sbi.co.in/webfiles/uploads/files/1275633859382_SCO_JUNE_2010_ADVT_ENG.pdf
Application Form : http://www.sbi.co.in/webfiles/uploads/files/1275633859382_SCO_JUNE_2010_FORM_II.pdf
Download Cash Voucher : http://www.sbi.co.in/webfiles/uploads/files/1275633859382_SCO_JUNE_2010_CASH_VOUCHER_II.pdf

Popularity: 6% [?]

In an effort to step up credit to farmers, State Bank of India (SBI) has slashed interest rates on crop loans above Rs 3 lakh and up to Rs 25 lakh by over 175 basis points. At present, crop loans upto Rs 3 lakh are available to farmers at 7 per cent. They get additional 2 per cent concession for prompt repayment, SBI said in statement.

The country’s largest lender is extending similar support to farmers availing crop loans above Rs 3 lakh. The interest on crop loans has been reduced from 11.75 – 12.75 per cent to 10 per cent for one year. This concession is applicable to loans sanctioned and disbursed from April 1, 2010 to March 31, 2011. An additional 1 per cent will be given to regular borrowers for prompt repayment. Thus, the effective interest rate will be only 9 per cent (fixed) up to one year. For farmers undertaking minor irrigation projects, SBI said the interest on new loans was slashed from 10.50-13.25 per cent to 8.5 per cent for one year.

The interest rate for second and third year would be 9.5 per cent for loans up to Rs 25 lakh. These loans have to be sanctioned between April 2010 and March 2011. It has also cut margin money that farmers have to keep for irrigation project loan to 10 per cent from the existing 15-25 per cent of the project cost. The repayment period for new loans has been extended by one year.

Popularity: unranked [?]

SBI General Insurance today launched its operation in a limited geographical area. It has received regulatory approval for two products in the fire and property segment.

“We have got approval for two products in the property segment. We plan to roll out pan-India operation in the next four-five months. We will start from Mumbai as of now,” said RR Belle, managing director and chief executive officer, SBI General Insurance.

At present, SBI General is in the process of setting up its comprehensive IT infrastructure and is expected to commence full scale operations later during the year.

SBI General is a joint venture between SBI and Insurance Australia Group IAG with 74 per cent and 26 per cent share in the capital structure. SBI has invested Rs 111 crore for its 74 per cent equity, while IAG has pumped in about Rs 542.10 crore (including about Rs 500 crore premium) for its 26 per cent stake. It got the final (R3) regulatory approval in December 2009.

Entering into the market now will help SBI get corporate clients, as most of the policies get renewed in April. In addition, it will get advantage of SBI’s 14,000 branches and a huge client base, mostly in retail and small & medium enterprises segments.

(BS)

Popularity: 5% [?]

State Bank of India (SBI), the country’s largest lender, is expecting a mark-to-market (MTM) loss of Rs 500-700 crore during the current quarter due to rising bond yields, said Chairman O P Bhatt.

MTM is the writing down of securities to reflect current market value.

Yields on government bond have hardened by about 29 bps since January. On Friday, the benchmark 10-year government bond closed at a 17-month high of 7.97 per cent. There are expectations among market players that bond yields could cross the 8 per cent mark over the next few weeks.

Banks have to arrive at the market value of their bond portfolio based on the yield on the last day of the quarter. Banks, especially public sector players, have been further affected by rising yields as they have run out of headroom in putting bonds in the held-to-maturity category that does not require MTM accounting. With a record borrowing of Rs 451,000 crore this year, and low credit demand, banks had little option but to buy government securities.

SBI had reported net profit of Rs 2,479 crore in the third quarter of 2009-10, 0.03 per cent growth as compared with the same period in the previous year, as it had to book a Rs 246 crore MTM loss on the bond portfolio as compared with a write-back of Rs 342 crore in the corresponding period last year.

The flat growth in profit was partly due to investing a portion of the excess liquidity — estimated at Rs 75,000 crore — into instruments to shore up its statutory liquidity ratio. This exposure resulted in an additional MTM loss of Rs 45 crore during the quarter.

Unlike other banks, SBI’s problems are compounded by the government issuing bonds worth Rs 10,000 crore as its share of subscription to the rights issue.

(BS)

Popularity: 5% [?]

State Bank of India (SBI) may go for a rights issue in the next financial and will start discussions with the government after the presentation of the Union Budget.

Talking to reporters at the sidelines of a seminar, Chairman OP Bhatt said, “We need some equity and we need it in the next financial year. Our rights issue can be successful, if the government subscribes to it.” Bhatt expects the government to give some indications regarding capital infusion in public sector banks in the Budget.

“There may be some announcements on whether the government wants to give money for bank capitalisation. Based on that, we will start discussions with the government after the Budget,” Bhatt said. The lender seeks to raise Rs 10,000-20,000 crore from the rights issue. Bhatt also said the bank needed to raise around Rs 40,000 crore in the next five years in addition to Tier-II capital and retained earnings.

Popularity: 3% [?]

Country’s largest lender State Bank of India (SBI) today said the proposed base rate for the bank seemed to be around 8 per cent.

SBI Chairman OP Bhatt said this on the sidelines of an AIMA event here.

The Reserve Bank of India (RBI) has proposed to replace the benchmark prime lending rate (BPLR) with base rates from April this year.

The base rate is the lowest rate that a bank can charge from a customer and is intended to bring about more transparency in the lending operations of banks. SBI was at present looking into all the aspect of the base rate system proposed by RBI and was yet to take a final call based on asset liability situation, he said.

Asked if SBI has approached RBI for more time to migrate to the base rate regime, he said, “We do not intend to approach RBI, but possibly other banks may seek some relaxation for compliance.”

Further, he said the base rate would not translate into higher interest rate.

Asked about the merger of the State Bank of Indore with itself, Bhatt said, the merger should take place by March this year. The bank was currently seeking regulatory approval from RBI and thereafter it would go to the government for clearance, he said.

(BS)

Popularity: 3% [?]

High net worth customers walking into a State Bank of India branch could soon be greeted by name as soon as they reach the counters. That’s because scanners at the doorstep will detect an RFID chip embedded in their debit cards and flash an alert on the bank’s computers.

A senior SBI official said this will happen in the “near future”, and is a part of the country’s largest and oldest bank’s drive to use technology to take the concept of a ‘friendly bank’ a notch higher.

Having spent close to Rs 2,300 crore over the last five years on information technology, the bank is planning to spend another Rs 900 crore over the next three years. And true to its new-found aggression, SBI has hired Mumbai’s Brabourne Stadium on Sunday evening to showcase its technological prowess in the presence of Finance Minister Pranab Mukherjee.

Also in attendance will be industry leaders like Mukesh Ambani, TCS Vice-chairman S Ramadorai, and Bharati Group Chairman Sunil Mittal. Economist Jeffery Sachs and Cisco CEO John Chambers will speak on a video link.

In a span of nine years (2000-09), SBI has managed to roll out core banking systems (CBS) to all its 13,000 branches, making it one of the largest banks in Asia to have a single CBS platform. It has also connected close to 3,000 ATMs to a centralised network.

While there are many banks that have centralised CBS and a fully-networked ATM system in place, what differentiates SBI is the sheer size. Consider this: SBI alone has 170 to 180 million accounts and its subsidiaries have another 80 million or so. The average daily transactions handled by the IT system are about 25 million. And peak-time transactions (generally in March) go up by 10 – 15 per cent.

SBI Chairman O P Bhatt said technology has played a big role in giving SBI the edge it enjoys today. The implementation has happened in a phased manner, but any new branch is on CBS now from the very first day. The second part of the exercise was to connect the ATMs. Over the last nine months, SBI has added 1,000 ATMs per month, the largest such rollout in the world.

To mitigate the risk, SBI has set up a disaster recovery site in another state. And not to be caught unawares, it conducts disaster recovery testing at regular intervals.

SBI recently signed an eight-year contract with IBM for data mining and warehousing. “This will allow us to get qualitative information about customers. That in turn will help our employees to make informed decision. This is still at a preliminary stage. The real benefit of this will take a few more years but in the next few months we will start extracting monthly information reports. We are investing about Rs 80 – 90 crore for this system,” added SBI Deputy Managing Director (IT) Krishna Kumar.

The process for this mammoth implementation started in 2000 after SBI developed a technology roadmap along with KPMG. The need to deploy technology arose after private banks had started eating into the market share of state-owned banks. SBI too was not immune to this.

The problem at SBI was that while the bank had automated all its branches, none of these was able to talk to others. This meant that the bank did not have a single view of its customers’ information and could not do any significant strategic planning.

Popularity: 3% [?]