SBI will double the number of branches for retail sale of gold coins to 1,100 in the current fiscal to reach out to all important centres of the country. SBI also undertakes supply of customized gold coins to corporates. It is also in the process of setting up a dedicated bullion branch in Mumbai to undertake bullion business in a focused manner. (BS090609)
PNB aims to reach out to the customers in rural areas of the country through banking correspondents and also on the back of technology enabled services like biometric smart cards. PNB has opened its first technology enabled branch on a pilot basis at Daringibadi in Orissa’s Kandhamal district. The customers are issued biometric smart cards with the help of which they can make transactions at their doorsteps without going to the bank’s branch. PNB’s business correspondents are provided with a point of transaction machine. (BS110609)
Bank Unions oppose merger of public sector banks. They are protesting the move of the government. (BL120609)
SBI has announced an across the board 25 basis points cut in deposit rates effective 15th June 2009. This is the third cut in deposit rates this fiscal; rates were cut by 25 basis points and 50 basis points each in April and May. (BL140609)
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