MERGER DEFERRED

Merger proposal of 3 RRBs sponsored by our Bank placed before the Board - deferred  due to

intervention by our Workmen Director Com G V Sambasiva Rao, as per advice of AIBEA.

AIBEA has decided to join the National General Strike on 28^th Feb.2012

called by the Central Trade Unions against the attacks on the working

class

6TH CONF OF AIBOA, GRAND SUCCESS !

We greet Com.RJS Chairman & his new team – Com.Alok Khare VC, Com Sishiodia

President, Com Nagaraj GS, Coms M A Srinivasan & S N Duta-DGS, Com Gunaseka-

Ran Treasurer & all others , and wish them all every best.

The ministry of labour and employment has recommended an 8.6 per cent rate

of interest on the provident fund for 2011-12. The recommendation has been

forwarded to the finance ministry.  If the recommendation is accepted, 47 million will get a lower

rate of interest on their money this year

Nationalised Banks accounted for 52.70% of the aggregate

deposits mobilised by the quarter end June '11. This is marginally lower than the 53% as of

March'11.  SBI & Associates accounted for 22.10 per cent of the aggregate deposits - E.T.

END OF FAST TRACK PROMOTIONS

The finance ministry has directed state-run banks to do away with their

Separate promotion policies, a move strongly opposed by the officers' unions.

This spells the end of fast track promotions at managerial levels

NPA 2012 TO CROSS Rs.1.50 Lac crores
The RBI’s worst fears are likely to come true with gross NPAs of the banking sector set to cross the Rs 150,000 crore mark during the fiscal ended March 2012, indicating a rise of nearly three times from Rs 56,000 crore in 2008.

BANKING LAWS (AMENDMENT) BILL, 2011

COMPETITION WATCHDOG CCI SAID THAT THE PROPOSED EXCLUSION OF BANK MERGERS FROM ITS PURVIEW IS “NOT GOOD” AS OTHER SECTORS MAY ALSO CLAIM SUCH EXEMPTIONS (ECO TIMES)

Business Results – Q3 (Dec.11) :-

* Net Profit : Rs.876 cr - decline by 21%

*Global Business increase by 18% to Rs.5,34,710 cr

“Our profit would have been higher but for two reasons. One major account was restructured, and we had to provide Rs 150 crore for impairment of fair value; and because of spike in government yields, we had to provide Rs 185 crore for depreciation on investments,” said Mr S. Raman, CMD

As many as 11 executive directors are in the fray to fill the six posts of

Chairman & Managing Director (CMD) of public sector banks viz Bank of

Baroda, Bank of India, Canara Bank, Allahabad Bank, United Bank of India

And Dena Bank.,  that will fall vacant in financial year 2012-13