Bank of Baroda opened 1001 Ultra Small Branches Across India

Bank of Baroda, the public sector lender, on 22 March 2012 launched 1001 ultra small branches to provide banking services to the people of villages which don’t have access to banling services. The bank launched the ultra small branches under the financial inclusion initiative.

The virtual launch of 1001 ultra small branches was done by K. C. Chakraborty, Deputy Governor, Reserve Bank of India, in the presence of M. D. Mallya, Chairman and Managing Director, Bank of Baroda, at Varanasi.

On the same day, 551 ultra small branches were inaugurated across Uttar Pradesh and Uttarakhand. Bank of Baroda is set to open 1700 ultra small branches in various villages across the country.

Syndicate Bank appointed Madhukant Girdharlal Sanghvi as its New Chairman

Public sector lender Syndicate Bank on 29 February 2012 appointed Madhukant Girdharlal Sanghvi as its new Chairman and Managing Director. Sanghvi would take the charge on 1 March 2012 after the superannuation of incumbent chairman Basant Seth.

Sanghvi, before this appointment, was the Executive Director of Bank of Maharashtra. In his 31-year long career in banking he has been attached with various banking organisation in different capacities.
Sanghvi started his banking career in 1980 with Bank of Baroda. He later moved to Dena Bank and went on to become a General Manager of bank in 2003. Sanghvi was appointed the Executive Director of Bank of Maharashtra in 2008.