BANKS IN NEWS

Leading banks alongwith NABARD and Uttarakhand government are setting up training institutes in all 13 districts of the state to enhance entrepreneur skills and employment opportunities among the youth. A decision to this effect was taken at a meeting of the sub committee of the SLBC on agriculture and rural development. SBI would be setting up training centres in nine districts and the remaining four would be covered by PNB, Bank of Baroda and Uttaranchal Gramin Bank. Unemployed youth would undergo training in dairy development farming, repairs and other traditional skills. (BS200609)

Yes Bank said it would recruit 900 people including 500 specialists in nine months to drive expansion in six key segments. (BS200609)

Bank of Rajasthan has entered into an alliance with Karvy Stock Broking to provide customers access to the online investment platform (l-zone) of Karvy. With this tie up the bank’s customers can open a trading account with Karvy. l-zone would provide a single window interface for investing in secondary markets, IPOs and mutual funds. (BS200609)

UCO Bank is likely to reduce its BPLR by 50 basis points to 12 percent effective from 27th June 2009 subject to ratification by its board. The bank has also planned to cut its deposit rates by 25-50 basis points. (BS200609)