Virat Kohli appointed as the Brand Ambassador by Punjab National Bank

Mentor 4 CA

Virat Kohli appointed as the Brand Ambassador by Punjab National Bank

Punjab National Bank roped in Indian test skipper Virat Kohli as brand ambassador for improving its image which has taken a hit due to rising bad loans.

On the occasion Kohli said ‘PNB is Mera Apna Bank’ as he has been an account holder of the bank since the age of 16 years.

Since its inception in 1895, it said, PNB has been people’s bank serving millions of customers throughout India.

Over the years, PNB has grown from strength to strength and has established itself as a major player in Indian banking space, it said, adding, the bank has remained a trusted name in banking, attending to all the segments of the society.

For the first quarter ended June, the bank’s profit declined by a 58 per cent to ₹306 crore on account of mounting bad loans.

During the quarter, provision towards non-performing assets (NPAs) has jumped almost three-fold to Rs 3,620 crore from Rs 1,291 crore in the same period a year ago.

The Gross NPAs rose significantly to 13.75 per at the end of June 2016, from 12.9 per cent in the year-ago period. The net NPAs too rose to 9.16 per cent against 8.61 per cent in June 2015.

In absolute terms, the gross NPAs of the bank more than doubled to Rs 56,654.09 crore from the year-ago levels.

Read more →

MOU signed between the GOI and AFDB for hosting the Bank’s Annual Meetings at Ahmedabad

Mentor 4 CA

MOU signed between the GOI and AFDB for hosting the Bank’s Annual Meetings at Ahmedabad

India will be hosting the next Annual Meetings of the African Development Bank (AfDB) Group at Mahatma Gandhi Convention Centre, Ahmedabad from May 22 to May 26, 2017. 

This will be a mega international event to be attended by more than 5000 delegates from 80 member countries of the African Development Bank including the Governors, Alternate Governors, Executive Directors, policy makers and businesses.

A high level preparatory mission of AFDB, led by Ms NNENNA NWABUFO, Chairperson and Permanent Committee for Annual Meetings arrived in India on 6th September to visit and assess infrastructure and other facilities available at Ahmedabad and New Delhi.

The Secretary General of AfDB, Mr Vincent O. Nmehielle accompanied the delegation. The delegation met senior officers at Ahmedabad and at Dept of Economic Affairs, Ministry of Finance, New Delhi.

A MoU was signed between GOI and AFDB today regarding the holding of the Annual Meetings.  The MoU outlines the roles of Govt of India and AFDB.

The signatories to the MoU were Ms. Bandana Preyashi, Deputy Secretary (ADB-II/AfDB), Department of Economic Affairs(DEA), Ministry of Finance on behalf of the Government of of India and Mr Vincent O. Nmehielle, Secretary General of AfDB on behalf of the African Development Bank Group (AfDB).

The African Development Bank (AfDB) was established in 1963 with a view to promote the Economic Development and social progress of its regional members. India became member of the African Development Bank (AfDB) in 1983.  The Union Finance Minister and Secretary, Department of Economic Affairs (DEA), Ministry of Finance are the Governor and Alternate Governor of the Bank respectively.

Read more →

Axis Bank ties up with Banaras Hindu University (BHU) to offer specialised banking courses

Mentor 4 CA

Axis Bank ties up with Banaras Hindu University (BHU) to offer specialised banking courses

Private sector Axis Bank has tied up with Banaras Hindu University (BHU) to offer specialised banking courses.

The bank along with the Faculty of Commerce at BHU will develop the design and curriculum of courses, besides deciding on e-learning modules, structure and courseware, Axis Bank said in a release.

The partnership will offer courses like Masters in Commerce (MCom), Master of Financial Management (MFM), Master of Financial Management (Risk & Insurance) MFM - RI, Master of Foreign Trade (MFT).

Axis Bank said the programmes will be launched in a phased manner, starting with first batch commencing from academic session 2016-17.

The courses will be designed to introduce the students to functioning of banking industry in India and to academically and vocationally prepare them for corporate world.

The bank will conduct lectures through domain experts or faculty before the end of each semester pertaining to banking and insurance.

Students will also be provided an internship of six weeks at the end of the second semester at any branch of Axis Bank that will help them complete on the job training as well as acquaint with working in the banking industry.

Read more →