Page 6 - Banking Finance August 2023

BANK UPDATE

In his communication to shareholders, Private banks expand net- directors on the central board of the
Khara said, "To further penetrate the bank. According to the disclosure un-
work faster than PSBs
agriculture and rural market, your der Regulation 30 (4) of the SEBI (List-
bank has floated SBOSS, which is ex- Major private sector banks continued ing Obligations and Disclosure Require-
pected to help your bank reach out to to expand branch network in the finan- ments) Regulations, 2015, SBI has re-
a larger populace and record improved cial year ended March 2023, while appointed Ketan Shivji Vikamsey and
efficiency in sourcing and collection of public sector banks (PSB) saw a decline Mrugank Madhukar Paranjape to its
loans," said Khara. in number of branches. board and has added Rajesh Kumar
Dubey and Dharmendra Singh
Largest private lender HDFC Bank
Banks to report on RBI's added nearly 1,500 branches, closing Shekhawat as directors.
the year with over 7,800, making it the The appointment is for a period of
new CIMS
largest number of new branch addi- three years, from June 26, 2023, to
Banks will soon be required to report
tions by a scheduled commercial bank June 25, 2026.
on the Reserve Bank of India's Central-
in the country.
ized Information Management System
According to Anindya Banerjee, Group Infosys sign $454-million
(CIMS), RBI governor Shaktikanta Das
said as he launched the system. CFO, ICICI Bank, the bank's pace of
deal with Danske Bank
branch addition picked up significantly
He said CIMS will improve regulatory Infosys has signed a strategic collabo-
in FY23. Of the 480 new branches dur-
supervision, monitoring, and enforce- ration deal with Danske Bank, a Nor-
ing the year, 180 opened in the fourth
ment. As the new system is imple- dic bank, to accelerate the bank's digi-
quarter. "We should see significantly
mented, it will be gradually extended tal transformation initiatives. The $454
higher branch additions next year
to urban cooperative banks and non- million deal will be in force for a period
(FY24),'' he said.
banking financial companies. of 5 years with an option to renew for
"With launch of CIMS, we embark on Federal Bank opens eight one additional year for a maximum of
a major change in our information three times.
new branches
management framework for handling This collaboration will help Danske
the massive data flow, aggregation, Federal Bank has announced opening Bank achieve its strategic priorities
analysis, public dissemination and data of eight new branches across different towards better customer experiences,
governance," Das said. regions in the country. These strategic operational excellence, and a
expansions are part of the Bank's com-
modernised technology landscape,
Debadatta Chand takes mitment to providing enhanced finan- powered by next-gen solutions, said the
cial services and fostering economic
over as BoB MD company.
growth in the communities it serves.
Infosys will also acquire Danske Bank's
Debadatta Chand has taken charge as
The new branches are located in
the managing director and chief ex- IT centre in India, where over 1,400
Kamareddy (Telangana), Mysore/
ecutive officer of Bank of Baroda professionals are employed.
Kuvempu Nagar (Karnataka),
(BoB). He takes over from Sanjiv
Gummidipoondi, Valasaravakkam,
Chadha, whose tenure ended. Deposits hit 6-year high as
Maraimalai Nagar, Maligaikottam
Chand began his career in 1994 as an (Tamil Nadu), Ajmer and Bhilwara Rs. 2000 notes return
officer at Allahabad Bank and later
(Rajasthan). With these additions, Fed- Withdrawal of Rs 2,000 notes by the
worked as a manager at Sidbi from
eral Bank expands its network to bet- Reserve Bank of India on May 19 and
1998 to 2005. In 2005, he joined
ter serve customers in diverse geogra- the subsequent near total return of
Punjab National Bank (PNB) as chief
phies. the currency to the system has buoyed
manager. During his over 15-year ten-
deposit accretion to a six-year high of
ure at PNB, he held various roles. Prior
State Bank of India ap- Rs 191.6 lakh crore in June, according
to his appointment as MD & CEO,
points four directors to a report.
Chand served as ED at BoB since
March 2021. State Bank of India has appointed four Earlier this month, the RBI said more
6 | 2023 | AUGUST | BANKING FINANCE