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Vijaya Bank and Dena Bank Into the Bank of Baroda (Bob) Has Come Into Effect and All Branches of the Former Two Will Function As Branches of Bob

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The pain you feel today, will be the strength you feel tomorrow Index • Banking & Economy • Appointments & Resignations • Science & Technology • Obituaries • Person on Visit • Sports • Agreements & MOUs • Days & Events • Extra Highlights Banking and Economy Reliance MF launched Voice-Based Transactions रिलायंस एमएफ ने 鵍वनन-आधारित लेनदेन श셂ु किया Banking and Economy • Reliance Nippon Life Asset Management (RNAM) has joined hands with Google to enable the customers of Reliance Mutual Fund to carry out voice-based financial transactions. • रिलायंस निप्पॉि लाइफ एसेट मैिेजमᴂट (RNAM) िे गूगल के साथ ममलकि रिलायंस 륍यूचुअल फंड के ग्राहकⴂ को ध्वनि- आधारित ववत्तीय लेिदेि कििे की सुववधा प्रदाि की है। Banking and Economy • With this, RNAM became the first company in India, to provide a conversational interface that would help customers regarding funds transactions. • इसके साथ, RNAM संवादात्मक इंटिफेस प्रदाि कििे वाली भाित की ऐसी पहली कंपिी बि गई है, जो ग्राहकⴂ को पैसे के लेिदेि मᴂ मदद किेगी। Banking and Economy Extra Information: Reliance Founded: 08 May 1973 Founder: Dhirubhai Ambani Headquarters: Nariman Point, Mumbai, India Key people: o Mukesh Ambani (Chairman & MD) o Alok Agarwal (CFO) Banking and Economy Reliance Nippon Life Asset Management Limited (RNAM) Executive Director & Chief Executive Officer: Mr. Sundeep Sikka Banking and Economy Google Founded: September 4, 1998; California Founders: Larry Page, Sergey Brin Headquarters: California, U.S. Key people: o Sundar Pichai (CEO) o Ruth Porat (CFO) Parent: Alphabet Inc. (2015–present) Banking and Economy BOB becomes 3rd Largest Bank बिℂ ऑफ बड़ौदा 3 सबसे बडा बिℂ बना Banking and Economy • The amalgamation of Vijaya Bank and Dena Bank into the Bank of Baroda (BoB) has come into effect and all branches of the former two will function as branches of BoB. • ववजया बकℂ एवं देिा बकℂ का बकℂ ऑफ बड़ौदा (BoB) मᴂ ववलय प्रभावी हो गया है औि दोिⴂ बकℂ ⴂ की पूव व की सभी शाखाएं BoB की शाखाओ ं के 셂प मᴂ काय व किᴂगी। • The merged entity would also receive Rs 5,042 crore fund infusion from the government. • ववलय की गई इकाई को सिकाि से 5,042 किोड 셁पये का ववत्त प्राप्त होगा। Banking and Economy • Post the merger, Bank of Baroda has become the third largest bank in the country. • ववलय के बाद, बकℂ ऑफ बड़ौदा देश का तीसिा सबसे बडा बकℂ बि गया है। Banking and Economy Extra Information: • India’s first ever three-way merger of banks has started its operation over Rs 15 lakh cr as of balance sheet, with deposits and advances of 8.75 lakh crore and 6.25 lakh crore rupees, respectively. • Centre’s shareholding in the merged entity is 65.7%. • BoB now has over 9,500 branches, 13,400 ATMs and 85,000 employees. • Now the number of public sector banks (PSBs) has reduced to 18. Banking and Economy Bank of Baroda Founded: 20 July 1908 Founder: Sayajirao Gaekwad III Headquarters: Vadodara, Gujarat, India Key people: • Hasmukh Adhia (Chairman) • P. S. Jayakumar, (MD & CEO) Banking and Economy Timeline of Banking History Year Event 1770 Bank of Hindustan established by British Presidency Bank of Calcutta– goes on to become 1806 Imperial Bank of India (mainly to fund General Wellesley's wars against Tipu Sultan and the Marathas) 1809 Renamed as Bank of Bengal 1840 Presidency Bank of Bombay established 1843 Presidency Bank of Madras established Allahabad Bank established – Oldest Joint Stock bank 1865 in India. 1881 Oudh Commercial Bank – by Indian efforts entirely Banking and Economy Year Event Punjab Commercial Bank (PNB), est. in Lahore - by Indian Merchants 1894 – 1st Indian effort to continue till present day. 1904 Concept of Co-op Banks introduced by Lord Curzon 1913 - Banking Crisis & failure of 588 banks in various states 1917 Imperial Bank of India – all Presidency Banks (Bank of Bengal, Bank 1921 of Bombay, Bank of Madras) merges by British Govt. – which later became SBI! RBI established with Headquarter in Calcutta (Reserve Bank of India 1935 Act 1934) 1937 HQ of RBI permanently moved to Bombay. 1 Jan 1949 – Nationalisation of RBI. 1st Indian RBI Governor: C.D. 1949 Deshmukh Also, Banking Regulation Act, 1949 passed. Banking and Economy Year Event A.D. Gorwala Committee recommends re-naming Imperial Bank 1952 of India as State Bank of India. 1954 ICICI founded 1955 1st July 1955 – ‘State Bank of India’ SBI acquired the control of seven banks in 1960. They were the seven regional banks of former Indian princely states. They were renamed, prefixing them with 'State Bank of'. These seven banks were: 1.State Bank of Bikaner and Jaipur (SBBJ) 1960 2.State Bank of Hyderabad (SBH) 3.State Bank of Indore (SBN) 4.State Bank of Mysore (SBM) 5.State Bank of Patiala (SBP) 6.State Bank of Saurashtra (SBS) and 7.State Bank of Travancore (SBT). Banking and Economy Year Event 1964 IDBI formed as wholly owned subsidiary of RBI by Act of Parliament Nationalisation of 14 commercial Banks: 19 July 1969. With authorised capital over Rs. 50 crores. 1.Central Bank of India 2.Bank of India 3.Punjab National Bank 4.Bank of Baroda 5.United Commercial Bank 1969 6.Canara Bank 7.Dena Bank 8.United Bank 9.Syndicate Bank 10.Allahabad Bank 11.Indian Bank 12.Union Bank of India 13.Bank of Maharashtra 14.Indian Overseas Bank Banking and Economy Year Event Six more banks nationalised With authorised capital more than Rs. 200 crores. 1.Andhra Bank 1980 2.Corporation Bank 3.New Bank of India 4.Oriental Bank of Commerce 5.Punjab and Sindh Bank 6.Vijaya Bank 1982 NABARD, EXIM Bank established 1988 National Housing Bank (NHB) established Small Industries Development Bank of India (SIDBI) 1990 established Banking and Economy Year Event 4 September 1993 – New Bank Of India + PNB merger. 1993 Total of Nationalised banks now 14 + 6 – 1 = 19 excluding SBI and its associates. Core Banking System started making its way into banks and 1994-96 branches … 2004 IDBI enters banking sector 2005 Banking Ombudsman formed SBI merges State Bank of Saurashtra – 1st associate bank merger on 2008 13 August 2008. ICICI acquires Bank of Rajasthan 2010 SBI merges State Bank of Indore – 2nd associate bank merger on 26 August 2010. 2012 ‘RuPay’ launched by National Payments Corporation of India. Banking and Economy Year Event Bhartiya Mahila Bank formed. 19 November 2013. 2013 Total nationalised banks are 21 + SBI and it’s 5 associates = 27. ‘RuPay’ dedicated to India and formally introduced, by President Pranab Mukherjee. It is India’s 1st indigenous/domestic payment card scheme. ‘Jan Dhan 2014 Yojana’ for Financial Inclusion launched. Two new banking license issued by RBI to Bandhan Financial Services and IDFC on the recommendation of Bimal Jalan Committee Bank Board Bureau established to reform governance in 2016 Public Sector Bank as recommended by PJ Nayak Committee. Banking and Economy Year Event The following Banks were merged with State Bank of India with effect from 1 April 2017. 1.State Bank of Bikaner & Jaipur 2017 2.State Bank of Hyderabad 3.State Bank of Mysore 4.State Bank of Patiala 5.State Bank of Travancore and 6.Bharatiya Mahila Bank Merger of Vijaya Bank, Dena Bank and Bank of Baroda 2019 approved Appointments and Resignations Google India Head Rajan Anandan Resigned गूगल इण्डिया िे प्रमुख िाजन आनंदन ने इतीफा दे ददया Appointments and Resignations • Rajan Anandan, vice president for Google India and SouthEast Asia, and essentially heading Google in India, is leaving the company after an eight-year stint. • गूगल इंडडया औि साउथ ईस्ट एमशया के उपाध्यक्ष औि अनिवाय व 셂प से गूगल के भाित मᴂ प्रमुख िाजि आिंदि, आठ साल के कायवकाल के बाद कंपिी छोड िहे हℂ। • Anandan had joined Google from Microsoft India in 2010. • आिंदि िे 2010 मᴂ माइक्रोसॉफ्ट इंडडया से गूगल 煍वाइि ककया था। Appointments and Resignations • Vikas Agnihotri, who is currently serving as Google’s country director for sales, will take on the interim responsibility until the company finds a new managing director. • ववकास अग्निहोत्री, जो वतमव ाि मᴂ से쥍स के मलए गूगल के देश के निदेशक के 셂प मᴂ सेवा कि िहे हℂ, तब तक अंतरिम ग्ज륍मेदािी लᴂगे जब तक कक कंपिी को एक िया प्रबंध निदेशक िहीं ममल जाता। Appointments and Resignations Extra Information: Microsoft Appointments and Resignations Founded: April 4, 1975; in Albuquerque, New Mexico, U.S. Founders: Bill Gates, Paul Allen Headquarters: Redmond, Washington, U.S. Key people: o John W. Thompson (chairman) o Brad Smith (president and CLO) o Satya Nadella (CEO) o Bill Gates (technical advisor Microsoft India: o Headquarters: Hyderabad, India o Key people: Bhaskar Pramanik (Chairman) Appointments and Resignations Vinod Dasari named Royal Enfield CEO ववनोद दसािी िॉयल एनफी쥍ि िे मुख्य िायिय ािी अधधिािी बने Appointments and Resignations • Eicher Motors Ltd. has appointed Vinod K. Dasari as the chief executive officer of Royal Enfield. • आयशि मोटसव मलममटेड िे वविोद के . दासािी को िॉयल एिफी쥍ड का मुख्य कायकव ािी अधधकािी नियुक्त ककया है। • He will also join the board of Eicher Motors as executive director with immediate effect. • वह तत्काल प्रभाव से कायवकािी निदेशक के 셂प मᴂ आयशि मोटस व के बोड व मᴂ भी शाममल हⴂगे। Appointments and Resignations • He stepped down as MD and CEO of Ashok Leyland on March 31.
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    Conference Proceeding Published in International Journal of Trend in Research and Development (IJTRD), ISSN: 2394-9333, www.ijtrd.com Impact of Mergers & Acquisitions on Selected Banks Jyothi.L Asst. Professor, Kairalee Nikethan Golden Jubilee Degree College, Indiranagar, Bangalore, India Abstract: Banking sector plays very important role in every iii. To analysis the impact of Mergers & economy & is one of the fastest growing sectors in India. The Acquisitions on Selected Banks. competition is extreme & regardless of the challenge from the B. Research Tools global banks, domestic banks- both public & private sector. There are many indications that weak banks will merge will i. Secondary Data: Bank of Baroda’s, Vijaya Bank strong banks. Mergers & Acquisitions encourage banks to & Dena Bank past 5 financial year data gain global reach, better synergy, compete with global banks & collected, Debt Equity Ratio, Current Ratio, allow banks to acquire the Non-performing assets of weaker Asset Turnover Ratio, Net Profit Margin Ratio, banks. Through Mergers & Acquisitions, banks will get brand Net Operating Profit per share ratio, Non- names, new geographies, and correspondent product offerings performing assets. but also opportunities to cross sell to new accounts acquired by the other banks. The main objective of this paper is to assess C. Scope of the study the impact of merger & acquisition on the performance of i. The study is restricted to the impact of Bank of bank. This study is based on the secondary data collected from Baroda, Vijaya bank & Dena Bank. Magazines, Newspaper, journals etc. ii. The study is based on last four financial year data Keywords: Merger, Acquisitions, Banking sector, Growth of BOB, Vijaya Bank & Dena Bank.
  • The State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Bill, 2009

    The State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Bill, 2009

    1 AS INTRODUCED IN LOK SABHA Bill No. 113 of 2009 THE STATE BANK OF SAURASHTRA (REPEAL) AND THE STATE BANK OF INDIA (SUBSIDIARY BANKS) AMENDMENT BILL, 2009 A BILL to repeal the State Bank of Saurashtra Act, 1950 and further to amend the State Bank of India (Subsidiary Banks) Act, 1959. BE it enacted by Parliament in the Sixtieth Year of the Republic of India as follows:— CHAPTER I PRELIMINARY 1. (1) This Act may be called the State Bank of Saurashtra (Repeal) and the State Bank Short title and 5 of India (Subsidiary Banks) Amendment Act, 2009. commence- ment. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. CHAPTER II . REPEAL OF THE STATE BANK OF SAURASHTRA A CT, 1950 10 2. (1) The State Bank of Saurashtra Act, 1950 is hereby repealed. Repeal and savings. (2) Notwithstanding such repeal, anything done or any action taken, including any agreement entered into under the provisions of the State Bank of Saurashtra Act, 1950, by the State Bank of Saurashtra shall continue to be in force and have effect as if this Act has not been enacted. 15 (3) The mention of particulars in sub-section (2) shall not be held to prejudice or affect 10 of 1897. the general application of section 6 of the General Clauses Act, 1897, with regard to the effect of repeal. 2 CHAPTER III AMENDMENTS TO THE STATE BANK OF INDIA (SUBSIDIARY BANKS) ACT, 1959 Amendment 3. In section 2 of the State Bank of India (Subsidiary Banks) Act, 1959 (hereafter in this 38 of 1959.