Job opportunities for retired bank officials

Retired bank officials that are still willing to work finally have something to cheer for. Kerala based Manappuram Finance has invited application form the retired bankers for a specific area of expertise. The total head count of the group is around 23,000 and out of them close to 1,300 are the retired bank officials.

The Executive Chairman of the group, Mr. V.P. Nandakumar said “We are planning to hire 5,000 people in the next three months. At least 1,000 of the new entrants will be retired bank officials. This is essentially to increase the proportion of experienced hands at the level of branch heads and area managers.”

Indian lenders not ready for saving rate deregulation

The lenders in India have expressed their dissatisfied over the proposal of the Reserve Bank of India about the de-regulation of the saving account deposit rates.

The Chief Executive Officer of the Indian Banks’ Association, Mr. K.Ramakrishnan said “Given the conditions in which we are today, the bankers felt it will not be appropriate for actually not going in for deregulation at this point of time.”

Recently the reserve Bank of India had imposed several amendments about the calculation of the interest rates on the saving accounts on the banks and then it mandated the lender to increase the interest rate applicable on the saving account deposits to 4%.

A banker with private sector lender said “Established banks will be against it and new banks be in favour because if I have rate as a tool to compete in the market, it makes it that bit easier.”

“Right now, the liquidity is really tight and in this kind of an environment you can’t deregulate a product which can potentially throw nasty surprises to bankers on how to manage their deposit base,” said an analyst with brokerage firm.

Indian Post to implement Core Banking at its branches

Indian Post, one of the most trusted names in the country is working very aggressively toward the Financial Inclusion Plan and has announced to roll out the Core Banking facility at around 150 branches with in next two months.

Indian Post has an extensive network that also covers the rural and remote areas of the country. The Post Master General (Karnataka Circle), Vaumitra said that around 4000 branches would be included under the Core Banking Facility very soon.

"The operations would be carried out in a phase by phase manner and in the first phase nearly 1,000 Departmental Post offices would have core banking," he said. The first phase of the project will start by implementing CBS at 150 branches in Karnataka.

He also said that due to the presence of India Post even in the far-flung areas in the country a lot of banks are willing to partner with them.