Abhishek Securities

The Catholic Syrian Bank,  one of  India's  oldest private banks, has partnered with   PeopleStrong,   India's  fastest growing HR Tech company, to digitize its entire Human Capital Management. With  PeopleStrong Alt Worklife , CSB has embraced and digitized HR with the implementation of a comprehensive HCM software suite, moving from an ageing ERP system to  Mobile  &  Cloud -based  Agile  system. Kerala-based CSB, which is majority owned by Fairfax, is the only Indian bank to be owned by a non-banking foreign entity. CSB-a century old Indian Private Bank has been a pioneer in adopting new culture shifts in Indian Banking, and as early as in mid 1970s, it recognized the need for automation and introduced Data Processing systems using IBM Data processing machines. PeopleStrong Alt Worklife suite will automate and optimize CSB HR team and people management processes aided with conversation collaboration module that i...

Catholic Syrian Bank  (CSB) has decided to make changes in the article of association to pave way for Fairfax, which picked up a 51 per cent stake in the bank, to get two seats on the board, including the post of Chairman. According to the amendment,  Fairfax  would have a minimum of two directors always and there should be at least one  Fairfax  representative in all the committees. If the representation is not there in the first meeting, the meeting should be postponed and if they cannot participate in the postponed meeting also, then the committee is allowed to go ahead without them, said bank officials. The bank and FIH Mauritius Investments Ltd (FIH-M) entered into an investment agreement in February 2018 that was modified on October 15, 2018, pursuant to  Fairfax  agreed to acquire shares up to 51 per cent of the post issue paid-up capital of the Bank. The articles of association have been amended in order to bring in changes in line with...