Pune snatches victory from the jaws of defeat

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Pune Paltan's snatch victory from the jaws of defeat Wazir Singh declared best raider & Nitin More takes home best defender New Delhi, 3rd August, 2014: It was set to be a momentous clash between the second placed Bengaluru Bulls and Puneri Paltan. A victory for Bengaluru would help them close in the gap between them leaders U Mumba, While Pune stood the chance of leapfrogging both Patna and Delhi if they were to win. The air was thick with anticipation as both teams geared up for a showdown. The match began with Bengaluru moving into an early lead thanks to the heroics of star raider Ajay Thakur and Captain fantastic- Manjit Chillar, who strung together a series of successful raids, and helped the Bulls put some vital points on the board early on. Pune who desperately needed a win if they had any hope of mounting a serious challenge in the league rotated raiding duties between skipper Wazir Singh and Jitesh Joshi to great effect, as they managed to keep pace with the Bulls early on. Over the course of the league, Bengaluru have never lost a match from a winning position and the Paltans were well aware of that. But it wasn't long before the Bulls started to flex their muscle; by the end of the first half the Bulls led the Paltans in every department. They had a higher number of productive raids, a greater number of tackles, 2 sets of Lona points to Pune's none and the most important of them all, the scoreboard too.  The Bulls marched into the half-time break in the lead 20-15. Having been disappointed by their team's loss in the opening game of the Delhi leg, the Delhi crowd seemed to favour the Paltans, constantly cheering them on through every raid and every tackle. They whistled and jeered when the Bulls were on the attack, even if luck hadn't been on their side, Pune at least seemed to have found a home away from home. It was a close match, with Pune always behind, the only way Pune could stop the Bulls was to stifle the threat presented by Manjit Chillar and Ajay Thakur. It looked agonizing for the Paltans as every time they came within reach of the Bulls, they would fall behind again. Puneri Paltan's best chance to reverse their fate came late; the 34th minute of the second half with the score at 26-23, Pune had successfully dispatched Ajay Thakur.  Coach Ramphal Kaushik realized the importance of the moment and called for two timeouts back to back, reemphasizing the importance of dismissing Manjit Chillar.  Like a wish granted from the heavens, Manjit was sent back to the out box on the very next raid, given that he'd had three consecutive empty raids. Pune seized the opportunity and for the very first time in the match went level with the Bulls. There was suddenly a strong belief within the team that they could win the match, and with one last crunching challenge on the Bengaluru skipper, the match was over. Pune had literally rescued the match from the lion's mouth in the very last minute. Their maiden victory, Pune won the match with a score of 33 - 31 in their favour. Team Standings after Match 16- 3rd August, 2014      Pune had literally rescued the match from the lion's mouth in the very last minute

Oriental Bank of Commerce Q1 Financial Results of FY 2014-15

4082014

Mr S. L. Bansal CMD, Oriental Bank of Commerce accompanied by EDs Mr Bhupinder Nayyar & Mr Suresh N Patel announced  the Q1 Financial Results of FY 2014-15 at Bank’s Corporate Office in Gurgaon. Also present were Mr C. M. Khurana, CFO of the Bank.

                                                                                                    

HIGHLIGHTS OF FINANCIAL RESULTS FOR 30TH JUNE, 2014

                                                                                   (Rs. In Crore)

	Q1 FY-2014-15	Q1 FY-2013-14	% Growth (YoY)
Operating Profit	1141.72	1,088.27	4.91%
Net Profit	364.54	353.38	3.16%
Total Income	5,576.03	5,255.70	6.09%
Non Interest Income	588.20	538.05	9.32%

                                                                                                                   (Rs. in Crore)

	June,2014	June,2013	% Growth (YoY)
Business Mix	3,24,861	3,04,269	6.77%
Total Deposits	1,86,547	1,76,275	5.83%
Total Advances	1,38,314	1,27,995	8.06%
Core Deposits	1,59,317	1,44,873	9.97%
Retail Term Deposits (less than Rs.1 Cr)	67,593	61,569	9.78%
Bulk Deposits	26,848	31,221	-14.01%
CASA Deposits	44,903	41,844	7.31%
CASA per Branch	21.09	20.68	1.98%
Retail Advances	16,076	14,492	10.93%
Priority Sector Advances	53,753	45,584	17.92%
Business per Employee	16.32	15.98	2.13%
Book Value per Share (in Rs.)	434.08	413.87	4.88%
Cost to Income Ratio	37.64%	41.02%	-338 bps

o   Capital Adequacy of the Bank under BASEL II 11.75% (Tier I: 9.23%, Tier II: 2.52%)

o   Capital Adequacy of the Bank under BASEL III 10.91% (Tier I: 8.85%, Tier II: 2.06%)

o   RETAIL CREDIT

Retail Credit grew by 10.93% (YoY) to reach Rs. 16,075.50 crore out of which:

Ø  Housing Loan Portfolio grew by 13.81% (YoY) to reach Rs.7,383.70 crore

Ø  Vehicle Loan Portfolio grew by 11.94% (YoY) to reach Rs. 1,634.47 crore

o   PRIORITY SECTOR

                                                                                                                            (Rs. in Crore)

	June,2014	June,2013	% Growth (YoY)
Total Priority Sector Advances	53,753	45,584	17.92%
Total Agriculture Advances	20,957	17,149	22.20%
Micro & Small Enterprises	24,718	20,811	18.78%
Weaker Section	13,528	11,349	19.20%
Minority Community	8,217	7,370	11.49%

Under, Financial Inclusion, 3268 Villages have been covered by the Bank up to               30thJune, 2014.

o   Total Recovery including Upgradation during the quarter was Rs.878 crorecompared to Rs.480 crore in corresponding quarter of previous financial year.

o   Gross NPA ratio at 4.33% and Net NPA ratio at 3.11%.

o   Provision Coverage Ratio stood at 59.11%.

o   218 New ATMs installed during the quarter.

o   The Total Delivery Channels of the Bank as on 30th June, 2014, stood at4543 (2129 Branches and 2414 ATMs).

o   The Customer Base of the Bank stands increased to 22.52 million.

o   During the quarter, Bank recruited 545 personnel including 412 Probationary Officers & 106 Specialist Officers. Further, 563 Clerks shall be joining the Bank in Oct, 2014.

OTHER INITIATIVES DURING Q1

Ø  Monsoon Bonanza offer on Home & Car Loans has been launched with 50% waiver in process fee.

Ø  Customised Education Loan scheme for students of all IITs & IIMs wherein 100% financing is permissible at Base Rate with Nil Collateral Security.

Ø  In-built sanction of four wheeler loan will be given at the time of renewal of credit facilities to existing corporate customers of the Bank who are availing regular credit facilities from the Bank.

Ø  Under Oriental Mortgage Loan Scheme, the loan limit has been enhanced from         Rs. 1.00 Crore to Rs.10.00 Crore.

Ø  Internet Banking

o   Rajasthan and Andhra Pradesh (Seemandhra) Government online Tax Collection launched.

o   Launched the facility of instance issuance of One Time Password (OTP) for better customer convenience.

Ø  Self Service Cash Deposit Kiosks:132 Self Service Cash deposit Kiosks have been procured for installation at different branches across the country to provide instant credit in their accounts for the cash deposited in the Kiosk. Out of these, 61 have already been implemented and 71 are in process of implementation.

Ø  Self Service Passbook Printing Kiosks: 88 Self service Pass Book Printing Kiosks have been procured for installation at different branches across the country. Out of which 66 have already been implemented and 22 are in process of implementation.

CSR INITIATIVES DURING Q1

Ø  Activity in Primary Schools

v  Donated a School Bus for poor & needy students of the school under Saraswati Shishu Mandir Shiksha Samiti, Meerut.

v  Donated Water Coolers for providing fresh & cool drinking water to the  students/ teachers of MLM Public School, Ferozpur Cantt, Krishna Vatika School Village Bhokhra, District Bathinda & Government High School, Topra Kalan.

Ø  Women Empowerment & Entrepreneur Development Program

Donation of Computers along with UPS System, Sewing Machines, Solar batteries & Cycles, through Jagruti- A Social Venture by Oriental Bank Family in association with Navjyoti India Foundation at its Project Site Office at Dhumaspur Road, Nayagaon (Bhondsi), Guragon.

Ø  Medical Equipments & other utility items

Donation of medical equipments, food items, medicines and other utility items for rehabilitation of persons of ‘The Earth Saviours Foundation, New Delhi’, who have been displaced due to fire.

Ø  Green Initiatives to mitigate pollution

Under the Green Initiatives & to mitigate the pollution, Bank has planted more than 100 saplings in Kolkata in association with Concern India Foundation, Kolkata.

Ø  Water Coolers & RO Systems

      The Bank donated Water Cooler & RO system for visitors and staff of BDPO Office,

      Radaur, District Yamuna Nagar.

AWARDS

Shri Pranab Mukherjee, Hon’ble President of India conferred the Bank with the Excellence Award for issuance of RuPay Card.

Place  : Gurgaon

Date   : 04.08.2014

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