P. 6


         net NPA and leverage ratio on an on-  Bank. In May, it had recommended  rates by 10 basis points to 2.90 per
         going basis, the central bank said.  Bangari as the EXIM Bank MD. The  cent. This compares with deposit rate
                                            BBB had also suggested Samuel Joseph  of 2.70 per cent and 2.75 per cent of-
         Govt extends tenure of             Jebaraj as the candidate on the reserve  fered by State Bank of India (SBI) and
                                            list for the position.             Bank of Baroda (BoB), respectively.
         Canara, Bank of India EDs
                                                                               The cut in the interest rate--effective
         by two years                       Former SBI chief Rajnish           from September 1--will be applicable
         The government has extended the    Kumar is HSBC Asia inde-           on existing as well as new savings fund
         tenure of two executive directors of                                  accounts, the lender said.
         Canara Bank and Bank of India for two pendent director                Bank officials said the decision is partly
         years, the state-run lenders said.  The Hongkong and Shanghai Banking  driven by huge liquidity that the bank
         Canara Bank in a regulatory filing said  Corporation (HSBC) said it has ap-  continues to manage and also correc-
         that the central government has ex-  pointed former State Bank of India  tion in rates vis-a-vis peers, especially
         tended the term of office of A     (SBI) chairman Rajnish Kumar as an  public sector banks.
         Manimekhalai, Executive Director, for  independent director and a member of
                                            Audit Committee and Risk Committee  The lender has been offering 2.90 per
         a period of two years beyond her cur-                                 cent to 5.25 per cent interest on term
                                            of the Asian entity.
         rently notified terms that expires on 10
                                                                               deposits with a period of 7 to 14 days
         February 2022, or until further orders,  The Indian operation is a branch of this  and 5 to ten years, respectively from
         whichever is earlier.              Asian entity. HSBC is also listed in the  August 1. Deposit rates for senior citi-
         Bank of India in a separate filing said  UK as a separate entity called HSBC Plc.  zens range from 3.40 per cent to 5.75
         that the term of office of P R     Rajnish Kumar retired in October 2020  per cent.
         Rajagopal, Executive Director, has  after a 40-year career at the SBI. His
         been extended for a period of two  international tenure included stints at  Honda cars ties up with
         years, beyond his currently notified  SBI's UK and Canada operations.
         term or until further orders, whichever                               IndusInd Bank for vehicle
         is earlier. His current term was to ex-  Bank of India raises Rs. financing
         pire on February 28, 2022, the bank                                   Honda Cars India (HCIL) partnered
         said.                              2,550 cr via QIP issue             with IndusInd Bank to facilitate cus-
                                            Bank of India announced the closure of  tomers to avail custom-built financing
         Harsha Bhupendra Bangari           its QIP issue and said that it has raised  solutions on purchase of Amaze and
                                            Rs 2,550 crore by issuing more than
         appointed as EXIM Bank             40.5 crore shares to the qualified insti-  City such as low EMI, flexi term, up to
                                                                               100 per cent ex-showroom funding and
         MD                                 tutional buyers.                   customised schemes for specific cus-
         The government has appointed Harsha  The capital issue committee at its  tomer groups like farmers.
         Bhupendra Bangari as the Managing  meeting held on August 31, 2021 has  The partnership with IndusInd Bank is
         Director (MD) of Export-Import Bank  approved the issue and allotment of  an extension of our efforts towards
         of India (EXIM Bank).              40,54,71,866 equity shares to eligible  making personal mobility more acces-
                                            qualified institutional buyers (QIBs) at
         Bangari, who is presently the deputy                                  sible and affordable to a diverse set of
                                            an issue price of Rs 62.89 per share,
         managing director at EXIM Bank,                                       customers, both salaried and self-em-
                                            aggregating to Rs 2,550.01 crore,
         would be at the helm for a period of                                  ployed.
         three years or until further orders of  Bank of India said in a regulatory filing.
         the government, said a notification.                                  Shanti Lal Jain takes
                                            PNB reduces savings de-
         Banks Board Bureau (BBB), the head-                                   charge as MD & CEO of
         hunter for state-owned banks and fi- posit rates to 2.9%
         nancial institutions, had interviewed 10  State-owned lender Punjab National  Indian Bank
         candidates for the top post at EXIM  Bank (PNB) has reduced savings deposit  Shanti Lal Jain has assumed charge as

            6 | 2021 | OCTOBER                                                             | BANKING FINANCE
   1   2   3   4   5   6   7   8   9   10   11