Page 5 - Banking Finance April 2016
P. 5
BANK UPDATE
BANKING
CBI carries out hunts in ICICI Bank launches 'work-from-home' programme for
Syndicate Bank fraud women
The Central Bureau of Investigations ICICI Bank has announced the launch Chanda Kochhar, Managing Director
(CBI) has carried of a work-from-home programme to and CEO, ICICI Bank said that an inter-
out searches at 10
locations spread prevent women employees from drop- nal survey showed that women leave
across three cities ping out of its workforce. the organisation largely do so on ac-
after registering a count of childcare, maternity, or be-
The company has deployed face recog- cause of long commuting.
case of alleged loan fraud estimated nition technology to facilitate women
to be around Rs 1,000 crore loan to work from home and Further, under this
frauds in Syndicate Bank. provide access to the programme, employees
bank's core banking serv- working from home can
A senior bank official said manage- ers. The programme carry out multiple tasks
ment has suspended five employees in
connection with this case. Shares of 'iWork@home' will enable such as checking documents
the company went down by 2.02 per almost every non-customer for disbursement of loans,
cent to settle at Rs 60.55 on the BSE. facing task to be done from image-based verification of
Bank of Maharashtra home. cheques for clearance, first-level scru-
profit up 56% tiny of documents for opening of ac-
The platform is designed not only to counts and processing of export-import
Bank of Maharashtra has reported a recognise the employees face; it also documents for payments.
jump of 55.6% in its net profit at Rs. logs her out if she leaves her seat or if
89.06 crore for the third quarter another face appears within range of Kochhar said that the programme was
ended December 2015. The Pune- the camera. The technology has been launched internally in the private sec-
headquartered public sector lender developed by ICICI Bank in collabora- tor bank few weeks ago and 50
had made a profit of Rs. 57.24 crore tion with IIT Delhi. women are currently undergoing it.
in the October-December quarter of
fiscal 2015. Total income of the bank PSBs wrote off Rs. 1.14 lakh cr in 3 years, more than
increased to Rs. 3,475.98 crore dur-
ing the third quarter of current fis- previous 9 years
cal, showing a rise of 3.2% from Rs.
3,366.85 crore in year-ago period, it State-owned banks wrote off over Rs 1.14 lakh crore debts during the last three
said in a BSE Ltd filling. financial years which was more than the amount written off in the previous nine
fiscals. "The public sector banks have written off (including compromise settle-
ments) Rs 1,14,181 crore of debt during financial years 2013, 2014 and 2015.
This amount is higher than written off amount by PSBs during the previous nine
financial years from 2004 to 2012," Finance Minister Arun Jaitley said.
BANKING FINANCE | APRIL | 2016 | 5
