Latest news with #AnnualMeetings
Times
20-07-2025
- Business
- Times
Pension funds unite to fight virtual annual meetings
Pension funds speaking for 11 million workers and retirees are mobilising to defend board governance standards and fight any proposals to allow listed companies to abandon physical annual meetings. An alliance of pension schemes including the £34 billion railworkers scheme and the £36 billion BT fund have joined forces to create a new lobby grouping, the Governance for Growth Investor Campaign (GGIC). The schemes have become increasingly concerned about the watering down of governance standards and plan to take a stance if the government pushes ahead with proposals to encourage virtual-only meetings. They fear that annual meetings conducted entirely online, while cheaper, would allow boards to cherry-pick easy questions, dodge being held accountable for failings and stage-manage proceedings to suppress healthy debate among shareholders. There is speculation that ministers will yield to corporate-sector pressure to make it easier to hold virtual-only meetings in the Audit Reform and Corporate Governance Bill, which is due to be published later this year. Digital-only shareholder meetings are commonplace in the United States now but still rare in the UK, as they normally require a change to the company's articles of association. Marks & Spencer faced a backlash after trying one in 2023. Pension schemes are also concerned that the wider policymaking agenda to promote City growth has been dominated by investment banks, City law firms and the London Stock Exchange, with no one listening to those speaking for the ordinary saver in retirement schemes. Much of the lobbying push to reform the listing rules and pressurise institutional investors into allocating capital to UK assets came from the Capital Markets Industry Taskforce, a self-appointed body with few members purely representing the interests of long-term savers. Caroline Escott, head of investment stewardship at RailPen, who is leading the GGIC campaign, said: 'Last year's UK listing changes watered down many longstanding shareholder rights, changes which to date do not appear to have had a positive effect on the UK IPO [initial public offering] environment. 'We do think the pension-saving investor's perspective … has been overlooked and under-appreciated. We don't seem to have learnt the lessons of the past,' she said, pointing to a previous watering-down to listing rules that led to investment disasters including ENRC, a Kazakh mining company, and Bumi, an Indonesian coalminer, more than ten years ago. There was strong evidence high governance standards improved investor returns, she said. Some schemes are also concerned about the recent scrapping of shareholder-friendly corporate governance proposals including the requirement for companies to publish audit and assurance plans. Others signing up to the saver-focused GGIC include the People's Pension, which has 7 million members, the Church of England Pensions Board and Brunel Pension Partnership, an umbrella grouping for ten council schemes. Together they boast £150 billion of pension firepower. One urgent priority for the grouping is to apply for a seat on the new listings taskforce, a body announced in the financial services growth and competitiveness strategy alongside other Mansion House measures last week. Escott said: 'Our experience of virtual-only meetings is that they allow companies to cherry-pick questions and reduce the opportunity for general interaction with shareholders.' UK companies holding virtual meetings include Aston Martin, Haleon and Clarksons. The Financial Conduct Authority was criticised last year after holding a digital-only annual meeting and has since said it will return to a hybrid format.
News18
18-07-2025
- Business
- News18
Customer experience remains central to SBIs growth strategy: Chairman
New Delhi, Jul 18 (PTI) Customer experience continues to be the cornerstone of SBI's growth strategy, Chairman C S Setty said, as the bank was recognised as the 'World's Best Consumer Bank' for 2025. The award to be presented by Global Finance magazine is based on the publication's comprehensive research and analysis, enriched by insights from corporate finance executives, analysts, and bankers across the globe, SBI said in a statement on Friday. Global Finance magazine will present the award to SBI Chairman C S Setty at the annual event titled World's Best Bank in Washington, on October 18, 2025 during the IMF/World Bank Annual Meetings, it said. Speaking on the occasion, Setty said 'customer experience remains central to our growth strategy. By simplifying on-boarding, enabling vernacular voice banking, and ensuring 24/7 digital support, we aim to deliver a seamless and inclusive experience across geographies, particularly for emerging segments in rural and semi-urban areas." Further, he said, the bank is building omni-channel engagement models, supported by hyper-personalised offerings powered by AI. This global recognition reaffirms SBI's commitment to serving its about 52 crore customers with innovation, inclusivity, and excellence, delivering world-class banking experiences across every corner of the nation and beyond, he added. PTI DP TRB Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Upturn
18-07-2025
- Business
- Business Upturn
SBI Named ‘World's Best Consumer Bank' for 2025 by Global Finance
State Bank of India has been named the World's Best Consumer Bank for 2025 by Global Finance magazine. SBI Chairman Shri C.S. Setty said, 'Customer experience remains central to our growth strategy,' as he acknowledged the global honour and reaffirmed the bank's focus on digital inclusion, rural outreach, and AI-driven services. By Riddhima Jain Published on July 18, 2025, 15:32 IST Mumbai, July 18, 2025 – The State Bank of India (SBI), the country's largest public sector lender, has been honoured with the title of 'World's Best Consumer Bank' for 2025 by Global Finance magazine. The recognition places SBI on the global banking map for its continued focus on customer-centric innovation and digital transformation. The award will be formally presented to SBI Chairman Shri C.S. Setty at the World's Best Bank event in Washington, D.C. on October 18, 2025, during the IMF/World Bank Annual Meetings. The selection was based on in-depth editorial research, analysis, and expert input from corporate finance professionals, analysts, and global banking executives. Expressing gratitude on the occasion, SBI Chairman Shri C.S. Setty said: 'A heartfelt thanks to all our esteemed customers, dedicated employees and all other stakeholders for their unwavering trust.' He added, 'Customer experience remains central to our growth strategy. By simplifying on-boarding, enabling vernacular voice banking, and ensuring 24/7 digital support, we aim to deliver a seamless and inclusive experience across geographies, particularly for emerging segments in rural and semi-urban areas. Further, we are building omni-channel engagement models, supported by hyper-personalised offerings powered by AI.' This prestigious honour reinforces SBI's commitment to serving over 52 crore customers through a blend of innovation, accessibility, and excellence in service delivery—spanning the remotest villages of India to customers abroad. Founded nearly four decades ago, Global Finance is a trusted publication among corporate leaders, central bankers, and financial decision-makers across 193 countries. Its World's Best Bank awards are considered a benchmark in the global banking industry, evaluating over 150 countries and 11 global regions. SBI continues to hold its position as the nation's leading bank in terms of assets, deposits, and customer base, with a digital footprint that includes over 8.77 crore users on its flagship app, YONO, and millions more engaged across social platforms. Ahmedabad Plane Crash
Time of India
18-07-2025
- Business
- Time of India
Customer experience remains central to SBI's growth strategy: Chairman
Customer experience continues to be the cornerstone of SBI's growth strategy, Chairman C S Setty said, as the bank was recognised as the 'World's Best Consumer Bank' for 2025. The award to be presented by Global Finance magazine is based on the publication's comprehensive research and analysis, enriched by insights from corporate finance executives, analysts, and bankers across the globe, SBI said in a statement on Friday. Explore courses from Top Institutes in Select a Course Category PGDM Operations Management others Degree Finance Technology Project Management Data Science Product Management healthcare Data Science Leadership Healthcare MCA Others Public Policy Design Thinking Digital Marketing MBA CXO Cybersecurity Artificial Intelligence Data Analytics Management Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details Global Finance magazine will present the award to SBI Chairman C S Setty at the annual event titled World's Best Bank in Washington, on October 18, 2025 during the IMF/World Bank Annual Meetings, it said. Speaking on the occasion, Setty said "customer experience remains central to our growth strategy. By simplifying on-boarding, enabling vernacular voice banking, and ensuring 24/7 digital support, we aim to deliver a seamless and inclusive experience across geographies, particularly for emerging segments in rural and semi-urban areas." Further, he said, the bank is building omni-channel engagement models, supported by hyper-personalised offerings powered by AI. Live Events This global recognition reaffirms SBI's commitment to serving its about 52 crore customers with innovation, inclusivity, and excellence, delivering world-class banking experiences across every corner of the nation and beyond, he added.
Ya Biladi
14-07-2025
- Business
- Ya Biladi
Morocco's e-visa attracts nearly Half a million applications from 118 nationalities in three years
Three years after its launch, Morocco's electronic visa (e-visa) system has proven to be an effective tool in supporting the country's growing tourism sector and international engagement, according to a recent report. The data show that out of nearly half a million applications processed since the system's rollout, 94.1% were tourism-related, confirming the e-visa's role in making Morocco more accessible to travelers. Business visas accounted for the remaining 5.9%, underscoring the system's additional value in facilitating diplomatic and economic exchanges. The third year of implementation marked a significant milestone, with 187,895 applications submitted, reflecting a sharp rise in demand compared to the previous year. According to the report, this increase demonstrates both a «maturation of the system» and growing user confidence, aided by Morocco's deliberate expansion of access to the e-visa, now available to citizens of 118 nationalities. In addition to streamlining the visa process for travelers, the e-visa system has proven highly efficient, offering a 72-hour turnaround for standard applications and 24 hours for express requests. These fast processing times have made the system a crucial asset for Morocco's ability to host major international events. Speed as a Catalyst for Global Mobility The benefits of the e-visa have been particularly evident during large-scale international gatherings. During the 2023 Annual Meetings of the IMF and World Bank in Marrakech, travelers from 109 nationalities entered Morocco using the system. At the GITEX Africa Morocco forums held in 2024 and 2025, the number of participating nationalities reached 118 and 117, respectively. With Morocco set to host major upcoming events like the Africa Cup of Nations (CAN 2025) and the 2030 FIFA World Cup (in partnership with Spain and Portugal), the e-visa continues to serve as a vital enabler of seamless travel and logistics. At the regional level, the e-visa has also contributed to strengthening intra-African mobility, according to repeated statements from the Ministry of Foreign Affairs, African Cooperation, and Moroccans Living Abroad. A notable example is the evolving partnership between Morocco and Ghana, where the e-visa is already in use. The ultimate objective is to move toward full visa exemption between the two countries, further easing academic, business, and cultural exchanges. Overall, the data confirm the strategic relevance of the e-visa, described as both a modernization tool for consular services and a mechanism for enhancing tourism appeal. It is increasingly seen as a lever for positioning Morocco as a welcoming destination for travelers, investors, and international institutions alike.
