After SBI, Bank of Baroda cuts interest charge on savings account via 50 bps
New Delhi: Within days of State of Bank of India (SBI) slashing interest rate on the financial savings bank account, another public sector unit (PSU) financial institution—Bank of Baroda bank—has observed suit, slicing it to a few.Five% on deposits of as much as Rs50 lakh.
“We wish to inform you that it’s been decided to introduce a 2-tier life after death
bank hobby price (from) 5 August…,” the financial institution said in a regulatory filing.
Effective Saturday, the hobby fee on financial savings bank stability of up to Rs50 lakh has been decreased to a few.5% from the modern annual 4%. However, for a balance above Rs50 lakh, the financial institution has retained the fee at 4%.
On 31 July, u . S .’s largest lender State Bank of India had slashed interest price on financial afters ice cream locations account deposits via 50 basis points to 3.5% on the balance of Rs1 crore and under. However, SBI continues to offer 4% interest on financial the afters new album 2016 account the stability of Rs1 crore and above.
Career Prospects to SBI Associates PO Exam Aspirants
The various assessments carried out as a part of the recruitment system to select candidates for the position of Bank Probationary Officer (PO) are SBI Associates PO Exam, IBPS PO examination, etc. Even earlier than considering the Bank process as a career choice, you should be aware of the jobs and responsibilities of a financial institution PO. This facilitates you in two methods:
1. You can decide whether or not it’s for an appropriate task for you or now not
2. If yes, based totally on the responsibilities, you may deduce the necessities and shape your practice for the examination
Probationary Officer is the primary function of an officer in a Bank, and the professional growth curve is usually willing upwards for the best performers.
The banks across the united states conduct their personal competitive examinations to shortlist applicants for the vacant positions. The most not unusual checks are the SBI Associates PO Exam for SB institution of banks and the common written examination (CWE) conducted by using the Institute of Baking Personnel Selection (IBPS) for a group of 20+ banks and economic establishments throughout us of a. The call for financial institution professionals is so high that SBI carried out this examination for the second in this year, first in June/July, and 2d to be held in November.
If you are looking for an opportunity to enter the Banking enterprise, the SBI Associates PO Exam is your first-class bet. I hope you’ve already got carried out the examination. This PO exam scheduled inside November has an overwhelming 3000 vacant positions to be stuffed in across its 5 branches in India. The examination contains 4 sections: Data Analysis & Interpretation, English Language, High-Level Reasoning and General Awareness, Marketing & Computers at the side of a descriptive examination of the English language.
After qualifying for the SBI Associates PO Exam, the following spherical selection is Group Discussion and Interview. The choice could be made based on the pinnacle-ranked candidates in each category.
Role and Responsibilities:
The candidate, after clearing all the above rounds, is allotted a workplace. The candidate, now known as the Bank Probationary Officer, can be asked to finish the necessary probation duration, which can vary from 6-one years. Only after the probation length, the employee is assigned with the normal paintings.
The PO has to document to the Senior Manager of the department. They need to paintings in the diverse departments like loan branch, mortgage, and finance branches. Even solving purchaser problems and lawsuits falls under the umbrella of the PO. Good communique and gentle talents come into play even as handling clients’ troubles and when coordinating with colleagues.
SBI Associates Bank PO income:
The starting fundamental pay for a Probationary Officer is Rs. 14,500/- inside the scale of Rs. 14500-600/7-18700-seven-hundred/2-20100-800/7-25700 is relevant to Junior Management Grade Scale I. Salary and perquisites like supplied accommodation, Medical Benefits, Conveyance Allowance, loans at fewer interest rates, LFC/HTC and so forth. Shape the repayment bundle. The overall quantity of reimbursement modifications with posting location and the facilities furnished by the man or woman banks; the average is set Rs. 65,000/- in Mumbai in keeping with the month. The income scales are due for revision.
As you sow, so shall you achieve. Career growth of a bank PO is without delay proportional to the overall performance degree of the candidate. To balance with the large obligations there are promotions. The advertising chances growth every 3-four years.
This possibility can alternate the route of your profession and lands you in a permanent relaxed process!!
Book Review: A Bank for the Buck
I am positive many might not forget those days while Bank personnel from tellers to managers were in tremendous demand within the matrimony marketplace. The female’s father had been continually appreciative to have a banker as their son-in-regulation that gave the character fame and dignity. Technology and product innovation were unheard in those days.
“A Bank for the Buck” is the story of the birth as properly the growth of HDFC Bank which became eighteen in August 2012. There are many things you’ll do when one turns eighteen years and it very plenty varies from a rustic to country. In India, possible vote and get a license to power an automobile, however, can’t drink in public locations. But, in China, turning eighteen offers one the license to drink. In the odyssey of past eighteen years, the book attempts to show off if life did turn out to be extraordinary for the bank’s employees, customers and buyers.
The author has included the complete adventure of eighteen years as a tale that spread throughout 13 chapters. By writing it as a story the author has stored it exciting through attractive the readers. The objective was not simply to come up with the bank’s records but to revolve a story about the making of this a hit bank in India.
Author, Tamal Bandyopadhyay is one of the most respected business newshounds in India. His weekly column
Banker’s Trust, in India’s 2d-largest, examine economic daily Mint, where he’s Deputy Managing Editor, is broadly read for its deep insights into the world of finance and its unerring ability to anticipate fundamental policy movements.
Tamal has closely watched the economic sector for over fifteen years and has had a ringside view of the huge adjustments in Indian finance over this era. He has been a frequent speaker at seminars throughout India. He has hosted a completely successful weekly show (with the aid of the same name as his weekly column) on television, presenting several India’s most respected bankers, coverage makers, relevant bankers, and regulators.
This is Tamal’s first book. He has contributed to The Oxford Companion to Economics in India, edited using Kaushik Basu and posted through Oxford University Press in 2007. Banker’s Trust, an anthology of his weekly column in Mint, has currently been posted.
The adventure starts right from how unique names were recommended like Bank of Bombay (BoB) or Bombay International Bank earlier than ultimately settling down with call HDFC Bank. The acronym for Bank of Bombay clashed with the mounted public region financial institution, Bank of afters ice cream cookie monster, which changed into dropped off.
The first 4 chapters speak about the bank’s making, the way it becomes conceptualized, how the core team became constructed up. The subsequent 4 chapters talk approximately the business philosophy of the bank and how it’s miles specific from the rest of the p.C. Chapter wide variety nine and ten talks about mergers. Chapter eleven details about what went incorrect with the bank and the way it got into a multitude. Chapter twelve delves into the story of what makes Aditya Puri the longest serving CEO of any bank in India. The remaining chapter tells the readers the story as to why this bank is successful.