Page 6 - BANKING FINANCE OCTOBER 2021

BANK UPDATE

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