Category: Allahabad Bank

News Update

ByStartupStory     |    December 26, 2023

Slice-backed North East Small Finance Bank (NESFB) in Bengaluru has appointed Satish Kumar Kalra as its interim MD and CEO, gaining approval from the bank’s board and the Reserve Bank of India. Kalra, a banking veteran with over four decades of experience, is set to drive the entity’s future.
“The approval from the board and RBI allows NESFB to appoint Satish Kumar Kalra as the interim MD and CEO,” NESFB announced. Kalra’s vast banking experience includes a successful tenure at Andhra Bank, marked by substantial credit growth and branch expansion.
In a move announced earlier in October, Slice and NESFB…
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Source: https://startupstorymedia.com/insights-rbi-approval-granted-former-andhra-bank-executive-named-slices-md-ceo/

Sanjeev Sanyal, a member of the Economic Advisory Council to the Prime Minister in an interview with financial portal Moneycontrol on 11 October stated that four major public sector banks will remain in existence and continue to play a crucial role in the Indian banking system.Currently, India has a total of 12 public sector banks. These include Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas Bank, Punjab & Sind Bank, Punjab National Bank, State Bank of India, UCO Bank, and Union Bank of India. Sanyal also mentioned that he believes certain parts of the Indian banking system will continue to be government-owned from a…
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Source: https://swarajyamag.com/amp/story/economy/four-major-public-sector-banks-to-remain-in-existence-private-segment-of-banking-system-should-grow-economic-advisor-sanjeev-sanyal

The shares of one of India’s leading public sector banks gained 2.5 percent to Rs 108.70 per share after it received a credit rating of AAA from AA+ for its long-term instruments. 

At 12:25 p.m, Union Bank of India Ltd shares were trading at Rs 106.95 a share, up 0.80 percent from the previous close price on the National Stock Exchange The company has a market capitalization of Rs 79,276 crore. 

According to the exchange filing, On November 23, 2023, Credit rating agency ICRA Ltd Upgraded the bank’s Tier 2 long-term ratings bonds to AAA from AA+, and revised Outlook to ‘Stable’ from ‘Positive’. 

ICRA upgraded the bank’s long-term rating based on sustained…
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Source: https://tradebrains.in/features/psu-bank-stock-gained-2-5-after-it-received-credit-rating-upgrade-of-aaa-from-icra/

Over two months after its merger with fintech unicorn Slice, North East Small Finance Bank (NESFB) has appointed former Andhra Bank managing director and chief executive officer Satish Kumar Kalra as its interim MD and CEO.

The bank said it has received approval from the Reserve Bank of India and the company’s board for Kalra’s appointment.

Kalra has earlier held independent director positions at PNB GILTS Ltd,…
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Source: https://www.livemint.com/companies/slice-names-ex-andhra-bank-md-satish-kalra-as-north-east-sfb-s-interim-chief/amp-11703511967570.html

Merger-bound North East Small Finance Bank has appointed Satish Kumar Kalra as interim MD and CEO, following the approval of the bank’s board and the Reserve Bank of India.Kalra was earlier MD, CEO (in-charge), and Executive Director at Andhra Bank, which was later merged with Union Bank of India. He has expertise in Treasury Management, NPA Credit Management, and Risk Management and has worked as an independent director on the boards of PNB GILTS, Ind Bank Merchant Services, JK Cement Limited, and CanFin Homes.At North East Small Finance Bank, Kalra will look to steer the bank towards a path of growth and stability, enhance branch management and the asset base, and further bolster…
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Source: https://www.thehindubusinessline.com/money-and-banking/merger-bound-north-east-sfb-appoints-satish-kumar-kalra-as-interim-md-ceo/article67674479.ece/amp/

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Bengaluru-based finetch Slice-backed North East Small Finance Bank (NESFB) has announced the appointment of Satish Kumar Kalra as its interim managing director (MD) and chief executive officer (CEO).
NESFB said that it got approval from the bank’s board and the Reserve Bank of India for the appointment. Kalra is a banking veteran with over four decades of experience in the banking industry.

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Earlier in October, Slice and Guwahati-based NESFB had announced their…
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Source: https://www.moneycontrol.com/news/technology/rbi-approves-former-andhra-bank-executive-as-md-and-ceo-of-slice-backed-north-east-sfb-11953171.html/amp

MUMBAI: North East Small Finance Bank (NESFB) has appointed Satish Kumar Kalra, a former senior executive at Andhra Bank, as its interim MD and CEO. The bank said NESFB’s board and RBI had approved the appointment. Kalra will take charge of the bank, which announced a merger with Slice in October, a fintech unicorn founded by Rajan Bajaj, which also has an NBFC licence.NESFB is promoted by RGVN North East (Rashtriya Gramin Vikas Nidhi), which obtained an MFI licence in 2015.“This is an opportunity to be at the helm of a merger in the banking industry — a cross-cultural collaboration between two entities set to redefine the financial landscape by leveraging NESFB’s grassroots…
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Source: https://timesofindia.indiatimes.com/business/india-business/ex-andhra-bank-executive-to-head-north-east-small-finance-bank/articleshow/106275191.cms