1. Promote Paperless Banking: R.K Suri
Director of Union Ministry of Environment & Forests Mr. R.K Suri has asked financial sector to adopting environment friendly practices link paperless and Internet banking, instead of branch banking, in order to help reducing carbon footprint.
Addressing the two-day national meet on ‘Environment & Corporate Social Responsibility’ here, Suri also asked banks to offer incentives by way of cheaper funds for adoption of green technologies by industries.
“Banks can adopt green practices such as – paperless services, eco-friendly initiatives like Internet banking/mobile banking, encouraging online banking instead of branch banking and can help reduce carbon footprint,” he said.
“We can also work to reduce the usage of resources such as paper, stationery, vouchers, cheque leaves thereby aiding in environmental protection,” Suri said.
Many banks has already adopted green banking services like Green Channel Counters, Cash Deposit Machine, Internet Banking, Mobile Banking which are promoting paperless banking and reducing carbon footprint
2. Finance Ministry to discuss UBI crisis with Reserve Bank of India (RBI).
The Ministry of Finance, Government of India will discuss the crisis about the Kolkata-headquartered United Bank of India (UBI) with RBI Governor Raghuram Rajan on Friday. Finance Minister P Chidambaram also categorically said he does not think any other bank is in the same boat as UBI. “United Bank’s NPAs (non-performing assets) or bad debts is not an alarming case. The bank has managed to reduce its NPA by 1,200 crore in January and February,” Chidambaram said in a press conference in New Delhi.
It may be recalled that the bank reported gross NPAs of 8,545 crore in the October-December quarter of 2013-14 as against 2,902 crore in the corresponding period of the previous financial year.
After the announcement, the bank’s Chairperson and Managing Director Archana Bhargawa took voluntary retirement, which was accepted with effect from February 20. The bank reported a net loss of 1,238 crore in the third quarter ended December 31, 2013, against a net profit of 42 crore in the corresponding period of the previous fiscal.
3. Corporation Bank (Crop Bank) to issue PAN cards.
Public Sector lender Corporation Bank has signed a memorandum of understanding with UTI Infrastructure Technology & Services Ltd (UTITSL) for issuing of Permanent Account Number (PAN) cards through its select branches.
The bank said 55 branches are authorized to issue PAN cards. Basti N Shenoy, General Manager of the bank, said Corp Bank is focused on offering value-added and innovative products and services to its clients and the tie-up with UTIITSL would enable it to provide the facility to obtain PAN cards with ease.
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