India News: MUMBAI: Punjab National Bank reported a net profit of Rs 586 crore for quarter ended March 2021 as compared to a loss of Rs 697 crore in the correspon.
India Business News: State-owned Punjab National Bank (PNB) on Friday posted a standalone profit of Rs 586.33 crore for the fourth quarter ended March, aided by good incre
RBI to conduct customer satisfaction survey on bank mergers
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Last Updated: Apr 26, 2021, 04:52 PM IST
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Synopsis
The proposed survey will cover a total of 20,000 respondents from 21 states, including Uttar Pradesh, Maharashtra, West Bengal, Tamil Nadu, Bihar, Karnataka, Madhya Pradesh, and Gujarat. In all, there will be 22 questions.
Agencies
The RBI will provide the contact number of the customers of bank branches selected from the 21 states.
The Reserve Bank of India (RBI) has decided to conduct a customer satisfaction survey to find out the impact of the recent mergers of state-owned banks on banking services being availed by individuals.
Among other things, the respondents will be asked whether the merger was positive from the point of customer services. The choice before the customer will be to tick one of the following options strongly agree; agree; neutral; disagree; or strongly disagree.
AU Small Finance Bank advanced 3.34% to Rs 1226.85 after the company successfully raised Rs 625.50 crore through qualified institutional placement (QIP) route.
The capital raising committee of board of directors of the bank, at their meeting held on Monday (15 March 2021) approved allotment of 50 lakh shares to eligible qualified institutional buyers at the issue price of Rs 1251 per equity share. The QIP issue opened on 9 March 2021 and closed on 15 March 2021.
The issue witnessed strong reception from both domestic and international institutional investors and the entire QIP was subscribed by sovereign wealth funds, large foreign portfolio investors, life insurance company and domestic mutual funds.
Despite the pandemic, the Allahabad Bank merger with Indian Bank concluded the final technical amalgamation (software integration) last month. What were the key synergies and cost benefits they obtained due to amalgamation? How many branches were rationalised and how many people were repositioned? What next for the amalgamated entity? Any fundraising on the cards?
In this podcast, we give you an insight on post-merger details and how easy or difficult it was to conclude the amalgamation Dear Reader,
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