Tag: Federal Bank

Business World

Federal Bank Sets Up Covid Vaccination Camps for Employees

Apr 10, 2021 by Neel Achary 0 Comments #Covid relief and vaccination initiatives, #Federal Bank

Mumbai, 10th April 2021: Federal Bank starts a drive for vaccination of its employees and their family members against Covid19. The Bank is partnering with reputed hospitals at various centers for this initiative. Launch of the program was held in Aluva, Kerala today. This project aims at vaccinating employees and their relatives above the age of 45 years.

Banking being an essential service, bank employees all over the country have been rendering banking services as usual defying all odds during the pandemic. This drive by Federal Bank comes as a step towards speeding up the inoculation of bankers and their family members which will ultimately result in uninterrupted service to the Bank’s customers. Federal Bank is exploring the possibilities to conduct several such vaccination camps for employees in major centers.

In addition to this, the Bank is funding numerous Covid relief and vaccination initiatives all over India for the public, which includes a mega CSR project for supporting vaccination drives in five districts in different states which are worst hit by the pandemic, in partnership with Apollo Hospitals and a national media group.

About Federal Bank

Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of 1,263 branches and 1,937 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ₹ 3.05 Lakh Crore as on March 31, 2021. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.35% as on 31st March 2020. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for Non Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.

Business World

Federal Bank Wins Great Place to Work Certification

Feb 20, 2021 by Neel Achary 0 Comments #Federal Bank, #Great Place to Work, #Managing Director & Chief Executive Officer, #Shyam Srinivasan

Federal Bank has been recognized as a Great Place to Work in a study conducted by the Great Place to Work® Institute. Great Place to Work® Institute works with companies around the world to build a High-Trust, High-Performance CultureTM that drives better business performance.

Great Place to Work® Institute recognizes organizations on multiple parameters to arrive at the coveted list of companies that provide an enabling environment of sustenance, growth, engagement, work‑life balance and more positive workplace culture aspects to its employees. This certification is particularly significant with the world currently engulfed in the COVID-19 pandemic which has caused tremendous employment challenges and disruptions worldwide. Analyzing the relationship of employees with management, with other employees and with their jobs, the assessment criteria of this survey is built around the core criterion of Trust.

Speaking about the certification, Ajith Kumar K K, Executive Vice President & CHRO said, “The certification comes to us as a great recognition and endorsement by Great Place to Work® Institute and our own employees, for some of the unique and innovative initiatives and best practices followed in Federal Bank, rooted in highly ethical, and inclusive professional environment, topped up with a caring Family culture.”

Speaking on the occasion, Shyam Srinivasan, Managing Director & Chief Executive Officer, Federal Bank said, “It is an honour and a huge source of pride to get recognized as a Great Place to Work, especially considering how resilient our team has been in a very challenging environment. In our quest to enhance our workplace and develop in every employee a high degree of pride and loyalty in serving the Bank, this recognition is a strong testimony to our culture, policies and initiatives towards development practiced as a part of our corporate philosophy. Our employees are the ones who put their passion for their work and drive better business results thereby making a difference to our customers.

About 41% of the bank’s employees have been with Federal Bank for over 10 years or more, and 18% for more than 20 years. Long employee tenure is a testimony to the Bank’s splendid HR practices.

Business World

Federal Bank Offers EMI on Debit Cards to Customers for Purchase of Two Wheelers

Sep 22, 2020 by Gouri Achary 0 Comments #EMI facility, #Federal Bank, #Federal Bank Debit Cards, #Hero MotoCorp, #Honda Motorcycle and TVS Motor

Mumbai, Sep 22, 2020: Federal Bank introduces EMI facility for holders of Federal Bank Debit Cards to purchase two-wheelers. Eligible customers of Federal Bank can own their favourite two-wheeler by making a payment of ₹ 1/- at 947 showrooms of Hero MotoCorp, Honda Motorcycle and TVS Motor. The financing process involves no paperwork or bank visit and is done completely online. Unlike conventional two-wheeler loans, hypothecation in favour of the Bank is not required for vehicles purchased on Debit Card EMI from Federal Bank. Customers can choose a repayment period of 3/6/9/12 months. There is no processing fee charged on loans under this scheme.

Customers who purchase two-wheelers from 793 Honda Motorcycle showrooms across the country availing EMI on Debit Card from Federal Bank will also get a cashback of 5% as a festival offer. Customers can check their eligibility for EMI by sending an SMS in the format DCEMI to 5676762 or giving a missed call to 7812900900.

With the sale of passenger vehicles and two-wheelers showing an upward trend on the back of demand spurred by the festive season and social distancing protocols and a reduction in GST for two-wheelers on the cards, this option of easy finance and cashback offer is expected to give further impetus for Federal Bank customers wishing to own brand-new two-wheelers. The Bank offers EMI on Debit Cards for purchase of consumer durables at over 36,000+ stores PAN India. The Bank has recently started offering EMI for purchases on e-commerce portals Amazon and Flipkart too