Nashik's BoM branch gets rolling trophy Award presented for loan disbursals to SC/ST community

The Umrale (Nashik) branch of the Bank of Maharashtra (BoM) was awarded the 'Bharat Ratna Dr Babasaheb Ambedkar Best Branch Rolling Trophy' on Thursday. The Umrale branch's performance was the best among the 1,536 branches of BoM in India. The award including a trophy and a cash prize of Rs25,000 was handed over to VV Varahagiri, manager of Umrale branch, by S Karuppasamy, Executive Director of the Reserve Bank of India (RBI). Explaining the concept behind giving away the trophy, J Somnath Sastry, assistant general manager, marketing and publicity, BoM, said, "This is the first-ever Bharat Ratna Dr Babasaheb Ambedkar award for excellent performing branch in the area of disbursement of loan and recovery from the scheduled castes (SC) and scheduled tribes (ST) community. Twelve branches were short listed for the award but the Umrale branch bagged the trophy." This award is given away on the birth anniversary of Dr Babasaheb Ambedkar on April 14 every year. The function took place at Appasaheb Jog Hall, Bank of Maharashtra Central Office. Sastry said the Umarale branch had distributed an amount of over Rs5.62 crore with a recovery rate of around 90%. Chairman and managing director of BoM, AS Bhattacharya, who conceptualised the idea of instituting a rolling trophy in the name of Babasaheb Ambedkar, was also present at the function.

RBI Conflicted Managing Interest Rates, Bond Sale: India Credit

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RBI launches industrial outlook survey

The Reserve Bank of India on Thursday, launched its Industrial Outlook Survey for the April-June, 2011 period. The survey gives an insight into the perception of non-financial public and private limited companies engaged in manufacturing activities about their performance and future prospects. The assessment of business sentiments for the present quarter and expectations for the ensuing quarter are based on qualitative responses to 20 major parameters. These include overall business and financial situations, demand indicators, price and employment expectations, profit margins, etc. The survey provides useful forward looking inputs for policymakers, analysts and businesses, it said. The RBI has mandated the Centre for Research Planning and Action (CERPA) to conduct the survey for the current quarter on its behalf.