Category: South Indian Bank

Enactus-IIT Delhi, South Indian Bank invite applications for SIB Finathon | Education News

NewsEducationEnactus-IIT Delhi, South Indian Bank invite applications for SIB Finathon

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SIB Finathon has three hackathon challenges— gamification, virtual branch and hyper personalisation of the mobile app. The deadline to submit the applications is October 10.

SIB Finathon: The last date to apply is October 10 (Express photo by Abhinav Saha/ Representative Image)
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Enactus– Indian Institute of Technology (IIT) Delhi in association with South Indian Bank is inviting applications for its hackathon ‘SIB Finathon.’ The registrations are open…
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Source: https://indianexpress.com/article/education/enactus-iit-delhi-south-indian-bank-invite-applications-for-sib-finathon-8970034/lite/

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SKYMET predicts India is likely to experience average monsoon conditions in 2024| Commodities corner

In the “Preliminary Monsoon Forecast Guidance for 2024,” Skymet foresees the approaching monsoon as being categorized as ‘normal.’ This year is likely to be one of those characterized by a robust commencement, progressing steadily and concluding approximately midway within the normal range. The standard range for normal rainfall is defined as 96-104% of LPA (868.6mm). Catch Manisha Gupta in conversation with G P Sharma, President, Meteorology & Climate CHange, Skymet

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Source: https://www.moneycontrol.com/

rights issues: Companies in rights rush, seek Rs 50,000 crore

Mumbai: After a gap of four years, rights issues are poised to reclaim prominence in the world of corporate financing as Indian companies expand capacities and strengthen capital buffers for future acquisitions.About four dozen companies, including Indian Oil, Grasim, Tata Consumer, South Indian Bank, UPL, among others, have either declared or are contemplating rights issues to mobilise funds amounting to more than ₹50,000 crore.This resurgence follows a record-breaking achievement in 2020, when 20 companies collectively raised ₹65,000 crore.Indian Oil and Bharat Petroleum Corp. (BPCL), are looking to raise about ₹22,000 crore and ₹18,000 crore, respectively, through rights…
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Source: https://m.economictimes.com/markets/stocks/news/companies-in-rights-rush-seek-rs-50000-crore/amp_articleshow/106879621.cms

South Indian Bank sees opportunity in India’s low banking credit penetration

The banking credit penetration in India is still quite low when compared to global peers, but South Indian Bank sees this as an opportunity for growth. In an exclusive interview with Bizz Buzz, Thomas Joseph, EVP and Chief Business Officer of South Indian Bank, discusses the key initiatives that are driving the bank’s growth in FY23-24. He also talks about how the bank is planning to evolve and stay relevant in the face of competition from new-age banks and PSUs.Please elaborate on the key initiatives that are driving the growth of the bank in FY23-24.• Introduction of new products and services: We’re expanding our product range by improving existing services and introducing new ones…
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Source: https://www.bizzbuzz.news/amp/bizz-talk/south-indian-bank-sees-opportunity-in-indias-low-banking-credit-penetration-1254812

Buy South Indian Bank; target of Rs 31: ICICI Securities

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ICICI Securities research report on South Indian Bank
Despite muted loan growth, South Indian Bank (SIB) reported a strong Q2FY24 with PAT at INR 2.75bn (97bps RoA), driven by benign credit costs while asset quality improved. In the last three years, SIB has come a long way and we believe the ongoing transformation journey should re-accelerate under Mr Seshadri. Notwithstanding some pressure on near-term NIMs, we see stable FY25 YoY NIMs aided by favourable mix and low LDR. We revise our earnings estimates…
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Source: https://www.moneycontrol.com/news/business/stocks/buy-south-indian-bank-target-of-rs-31-icici-securities-11590251.html/amp

SIB to attach Bomas bank accounts over Sh104m debt

Standard Investment Bank (SIB) has been allowed to attach two bank accounts belonging to Bomas of Kenya over a debt of Sh104 million.Standard Investment Bank (SIB) has been allowed to attach two bank accounts belonging to Bomas of Kenya over a debt of Sh104 million, arising from an arbitral award.Justice Alfred Mabeya ruled that Bomas of Kenya has not denied that the amount is yet to be settled and the argument that the money in the two bank accounts at KCB, Moi Avenue Branch, was not enough to pay the entire amount, was no reason to deny the bank from attaching the accounts.“In view of the foregoing, I am satisfied that the application is meritorious and I allow the same as prayed,”…
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Source: https://www.businessdailyafrica.com/bd/economy/sib-to-attach-bomas-bank-accounts-over-sh104m-debt–4460110?view=htmlamp

Non-customers of South Indian Bank will need OVD for note exchange – Times of India

Non-customers of South Indian Bank will need OVD for note exchange  Times of India
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Source: ”
https://timesofindia.indiatimes.com/city/chennai/non-customers-of-south-indian-bank-will-need-ovd-for-note-exchange/articleshow/100433639.cmsRhttps://timesofindia.indiatimes.com/city/chennai/non-customers-of-south-indian-bank-will-need-ovd-for-note-exchange/amp_articleshow/100433639.cms