United Bank Of India Is Going To Published Public Notification For Recruitment

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The Bombay Stock Exchange, and a consortium of financial institutions have launched India’s newest market in an attempt to break into the country’s fledging currency futures trading business.It was expected that the RBI will raise interest rates because of inflation concerns. We have not yet decided on raising deposit and lending rates for our bank which will be done at our ALCO (Asset Liability Committee) meeting," Bhaskar Sen, chairman and managing director of the bank, told reporters.I see banks considering raising both deposit and lending rates. Deposit growth rate has been slowing down due to negative real return and so we expect these rates to go up," he said on the sidelines of a press meet to sign a pact with Peerless Funds Management Company Ltd.

All 21 Indian public sector banks have promoted United Stock Exchange by investing in equity which include Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab and Sind Bank, Punjab National Bank, State Bank of India, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank. In addition to public sector banks, 5 private sector banks have also an equity participation in USE; they include Axis Bank, Federal Bank, HDFC Bank, ICICI Bank and J&K Bank.

Pramod Gubbi, director of equity sales at Noble, said the BSE’s foray into currency derivatives using a new vehicle with a larger group of investors represented a new strategy by the exchange.The backing provided by a broader group of institutions would help it to better compete in currency derivatives than in the traditional equities market, in which it had lost market share to the NSE.United Stock Exchange commenced operations at 9.00 am with 251 SEBI approved members as well as a robust support from all 21 Indian public sector banks, leading private sector banks, public sector units and corporate institutions.USE is India’s newest stock exchange for currency derivatives. The exchange offers a better platform to corporates and SMEs for managing forex risk as spread rates in an exchange are better and it does not involve any counter party risk.


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