Archive for the 'Banks' Category

Microstate branch of Indian Bank to come up in Bhubaneswar

Banks, Bhubaneswar- Cuttack- Puri, Khordha, Microfinance Comments Off on Microstate branch of Indian Bank to come up in Bhubaneswar

Following is an excerpt from a report in Business Standard.

Indian Bank is set to open four more “Microsate” (a satellite branch for micro loans) branches across the country by the end of 2007, taking the total number to 12. These would come up in Bhubaneswar, New Delhi, Pune, and Bangalore.

The public sector bank was the first bank to introduce exclusive microcredit branches to provide credit to self-help groups (SHGs). It currently has eight exclusive microcredit branches, including the one opened in Chennai (second branch in the city) on Saturday.

According to MS Sundara Rajan, chairman and managing director, Indian Bank, so far 6,982 groups have been provided a credit of Rs 56.42 crore through Microsate branches, which also provide non-credit services like training, counselling and marketing besides catering to the credit needs of the urban poor.

“The bank has so far credit-linked over 2.30 lakh SHGs to the tune of Rs 1,545.48 crore. To meet the needs of the urban poor in Chennai, a Microsate branch was opened in May 2005 in Chetpet. The branch has so far covered over 101,000 families in Chennai. Consequently, six more branches were opened in Patna, Vijayawada, Hyderabad, Nadiad (Ahmedabad), Kollam (Kerala) and Kolkata during the first half of the current fiscal 2007-08,” he said.

Syndicate Bank and Indian Overseas Bank plan social schemes

Banks, Education and Training Vilalgers, Ganjam, Jatropha, Kalahandi, Koraput, Koraput- Jeypore- Sunabedha- Damanjodi, Rayagada, Rayagada- Therubali 2 Comments »

Business standard reports that Syndicate Bank and Indian Overseas Bank plan several social schemes involving training villagers. Following are some excerpts from that report.

Syndicate bank said it would take up extension activities in all its rural branches for educating and training villagers in different aspects of agriculture, animal husbandry, plantation and fish rearing.

Indian Overseas Bank (IOB) said it would organise at least three training camps for women in southern Orissa during 2007-08.

“We have decided to organise at least three training camps on tailoring, handicraft and beauty therapy for rural women in southern Orissa towns at Rayagada, Jeypore and Bhawanipatna” …

At Jeypore in Koraput district, the bank has decided to impart training to the Scheduled Caste and Scheduled Tribe women.

In Rayagada, training to be given to the weaker section people.

Similarly in Bhawanipatna, the district headquarters of Kalahandi district, women in general categories will get training.

In each camp, scheduled to start in July or August, at least 20 women would be participated.

The respective branch managers would select the women to get training, he said …

After getting training for a fortnight, they would receive financial assistance from the bank for establishment of units in various fields.

“Our corporate office has agreed for three training camps initially and if more number of women come forward for skill and entrepreneurship development, more number of camps will be organised” …

Syndicate Bank would conduct 58 extension activities during 2007-08.

The bank’s Berhampur branch has recently held a farmers’ meeting on jatropha plantation at Narendrapur in Ganjam district in collaboration with the Orissa Nature Care & Council (ONCC), an organisation imparting training on jatropha cultivation for bio-diesel.

ONCC provided technical know-how and inputs for jatropha planting while the bank was financing farmers, …

Syndicate Bank offered Rs 10,000 to each of the 55 farmers in the village for taking up of jatropha plantation, …

Jatropha cultivation was done in about 105 acres in the village.

Syndicate bank would donate Rs 10,000 each for renovation and cleaning of ponds in 10 villages during the current year.

ICICI Bank will collaborate with Utkal University in setting up courses in banking and insurance

Banks, Bhubaneswar- Cuttack- Puri, INSURANCE, Khordha Comments Off on ICICI Bank will collaborate with Utkal University in setting up courses in banking and insurance

Tathya reports that ICICI Bank will collaborate with Utkal University to start courses in banking and insurance. I guess this will be mutually beneficial to both Utkal University and ICICI Bank. The later will get a good pool to hire its employees.

ICICI Bank Regional hub in Bhubaneswar: to employ 15,000 eventually

Banks, Bhubaneswar- Cuttack- Puri, ICICI, Khordha, Uncategorized 1 Comment »

Tathya reports that ICICI Bank will sign an MOU with Orissa government to set up a call center and back office operation for banking and insurance. This center to be located in Infocity will eventually hire 15,000 graduates from normal colleges. In terms of the number of people they will hire, this is a big deal; much bigger than the overhyped POSCO or Mittal deals. ICICI Bank will not use our mines; will not pollute our atmosphere; will not displace people; and will only need 12 acres and yet will hire 15,000 people. Orissa should be going after more such companies and less of the metal and mining kind.


ICICI CEO Mr. Kamath visiting Orissa on the 26th

Banks, INVESTMENTS and INVESTMENT PLANS Comments Off on ICICI CEO Mr. Kamath visiting Orissa on the 26th

Tathya’s running headline said that ICICI’s CEO Mr. Kamath is visiting Orissa on the 26th.