Page 8 - BANKING FINANCE APRIL 2017

BANK UPDATE

Bandhan Bank to hire workers for fulfilling work force
SBI to relocate 1,500-
shortage
1,600 branches by April
Bandhan Bank is planning to hire about 5000 people in 2017 to meet the grow-
State Bank of India (SBI) will relocate ing work force need at branches and other doorstep ser-
1,500- vice centres. It has also developed a banking curriculum for
1 , 6 0 0 graduates at its training facility with a promise to take them
branches on board on successful completion.
a f t e r The bank has built 826-strong branch network in just one
April as and a half year of its life and plans another 160-170 branches
part of a consolidation exercise. Five by March 2018. It has 23,600 employees at present. "We have witnessed 6%
associate banks, State Bank of attrition rate and keeping this in mind, we would be looking to hire 5000 this
Bikaner & Jaipur, State Bank of year," MD & CEO Chandra Shekhar Ghosh said.
Hyderabad, State Bank of Mysore, Back of the hand calculation shows that about 1000-1200 of the new recruits
State Bank of Patiala and State Bank would be hired for operating the new branches. The rest will be hired either to
of Travancore, will merge with par- replace the gaps created by attrition or for doorstep service centres.
ent SBI on April 1. Branch relocations Citi to refurbish its branches
will be governed by business poten-
tial and the government's financial American bank Citi said that in the digital age, branch banking is a "challenge"
and that it will revamp the branches to remain rel-
inclusion agenda. The six banks now
evant. "Not that we don't like branches, they are
have branches in various cities.
important. It is just that the role of branches has
changed and will continue to change across the
South Delhi SBI ATM giv-
world," Citi's head of consumer banking for Asia Pa-
ing out fake notes cific, Anand Selvakesari, told newspersons.
The government will inspect reports "The challenge today is what should we do with the branches. Over 95 per cent
of an SBI of our transactions are happening in self-service channels and not through the
ATM in branches," Selvakesari said. He hinted that the role of branches will shift to ac-
quiring new customers and offering them advisory services.
S o u t h
D e l h i 100,000 saving accounts in TN by Airtel Payments Bank
g i v i n g
Airtel Payments Bank, offered by telecom major Bharti Airtel, recently announced
out fake Rs. 2,000 notes and will take
that over one lakh sav-
all possible steps to control genera- ings accounts were
tion of forged currency, a senior min- opened in 100 villages
ister said. across Tamil Nadu.
Minister of State for Finance Santosh Through the initiative, the villages would have access to banking services along
with the option of making digital payments, a company statement said.
Gangwar said the government is not
worried by the stray incident of fake "We are delighted to have taken formal banking services to these remote rural
Rs. 2,000 rupee notes bearing 'Chil- pockets of Tamil Nadu. We are fully committed to the vision of Digital India and
financial inclusion," MD and CEO of Airtel Payments Bank, Shashi Arora said. A
dren Bank of India' being dispensed
network of over 16,000 neighbourhood Airtel stores offer banking services. By
from a State Bank of India ATM in
launching the service, Airtel Payments Bank will not charge any processing fee
South Delhi's Sangam Vihar. "The
from its customers and merchant partners for digital transactions.
government will investigate the mat-
ter. Fake currency should not come Ra 56.76 lakh forged notes seized from Kolkata
out of ATMs. If there are reports in Fake Indian currency notes totaling Rs. 56.76 lakh were seized at a market area
newspapers, then it will be investi- in south Kolkata. The anti-rowdy squad of Kolkata Police arrested five persons in
gated," he told reporters. connection with the case.

8 | 2017 | APRIL | BANKING FINANCE

Insurance Training Centre © Call 09883398055 / 09883380339