IBA Don't have Authority to Direct Banks, Sent Legal Circular

Indian Banks Association (IBA) has admitted that it doesn't have any authority on the Banks and can't issue direction to the Banks.

Indian Banks Association had sent a legal circular dt.30.09.2019 (A14) to all banks stating that it is a mere voluntary association of banks, it has not authority over banks, it does not issue directions to banks and is a mere facilitator of common purpose of its members and even it does not make any decision in such matters.

Read the legal circular

Read - AIBEA GS C H Venkatachalam - Wage Settleemnt is Not a Priority at this Moment !