:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

SBI GETS CHINESE NOD TO DO BUSINESS IN YUAN: FINMIN

The Shanghai branch of the State Bank has got the Chinese approval to carry out business in the local currency -- yuan. The permission to transact business in yuan (or renminbi) was granted by the Chinese banking regulatory commission last December. Earlier, the branch was permitted to conduct business in foreign currency only. 

SBI Shanghai branch can now provide funds in local currency to Indian companies operating in China for their operations. So far, they were dependent on local Chinese banks for the same. 

Further, the branch can now handle renminbi denominated trade bills of Indian exporters and importers. Also,coprorates and NRIs will now be able to keep their renminbi deposits with Shanghai branch of SBI, the minister added.

Posted by C.B.O.A., A.P.

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