12th Bipartite Settlement News

State Bank of India Chairman Rajnish Kumar has said in recent communication that privatization of some of the public sector banks will not do any harm to the banking sector or the economy of the country, and the emphasis should be on the way any inst…

Post merger of Public Sector Bank, Government is planning to merge all the regional rural banks (RRBs) with loss making Indian Post. It is also said that  At one point, government was thinking to keep only two banks i.e. State Bank of India and the pr…

Finance Minister of India said that the public sector banks are just the facilitator for the government sponsored loans and they must follow the instructions provided to them by the ministry. Banks are not authorized to judge the viability of the loan…

It seems government is more concerned about defaulters, t here is a growing concern in the government that due to the Covid-19 pandemic and economic distress there might be a surge in financial failures, which under current rules can get treated as fr…

Public Sector Bankers are Called for COVID duties at many places in the country. This is so called, the hypocrisy. It is the same government who has treated the banking as an essential services and asked bankers to open the banks in the odd hours of p…

The country's second largest private sector Bank  ICICI Bank has decided to reward its employees With 8% Pay Hike for Work Done During COVID-19  ICICI Bank has confirmed in this regard through their official Twitter handle. These employees form ov…

Income tax department has introduced a new format for Income Tax Form 26AS - As per the new format all the transactions including Stocks, Shares, Credit Cards, eWallets like PayTm, Ola Money, Phonepe etc. Mutual funds sale and purchase and much more a…

The All India Bank Depositors Association (AIBDA) has demanded to freeze the Deposit rates to pre COVID levels. AIBDA fears that depositors would be most severely hit if borrowers get waiver of interest during the Covid-19 lock-down-related moratoriu…

DFS Ask Banks to reduce the staff expenses including any further hike on establishments - the Department of Financial Services (DFS) has asked banks to follow “economy measures” in their spends  depend on the core business activities.  Public Sector …

Public Sector Banks are on the verge of Privatization under Atmanirbhar Bharat strategic and non-strategic economic package - Chief Economic Adviser Krishnamurthy Subramanian has indicated that few of the Public Sector Banks may be privatized in comin…

It is reported by a leading newspaper that Government is seriously discussing on the privatization of the listed Public Sector Banks. The list of Public Sector Banks includes Punjab & Sind Bank, Bank of Maharashtra and Indian Overseas Bank, which…

Sates Government of Goa, Odisha, Maharashtra had approved 12-hours daily work shifts after relaxing the labour laws under the Factories Act of 1948. With the amendment in the law, workers has to work extra four hours more than the current 8 hours — fo…

SBI, the country’s largest bank, has started the process of identifying functions and roles which can operate from home without affecting productivity, ET reported.  A big change is underway for public sector Banks (PSBs), where compulsory physical pr…

Indian Government has decided not to give any hike in DA for 12 Months - Centre and State governments expect to save ₹ 1.20 lakh crore With requirement for resources to fight the COVID-19 pandemic increasing every day, the government on Thursday deci…

The Central Government has put on hold the proposed increase in dearness allowance (DA) for its employees due to strain on its finances under COVID-19. Further, the union cabinet will take up a proposal to put a hold on any further increase for the cu…

Beware Now, your post on Facebook or Whatsapp or other social media platforms against your employers may put you in trouble - State Bank of India, the country's largest Public Sector Bank, said in a notice sent to its employees that disciplinary …

Revised Guidelines to banks for  lockdown extension - Bank branches would be allowed to operate, as per normal working hours till the process of disbursing direct benefit cash transfers is complete, the Ministry of Home Affairs said in its fresh guide…

COVID - 19 effects and government announcement of DBT - The  bank employees  association AIBEA,  has sought necessary transportation of its staff to bank branches after government announced various relief measures for citizens affected by the  coro…

In state of Bihar, the bank branches will provide services to customers in lockdown as before i.e. 10 - 4 PM : Sushil Modi, Deputy Chief Minister Sushil Kumar Modi said that all the branches of the bank functioning in the state will serve the cu…

RBI's clarification on deferring the EMI payments by 3 months  : -  What kind of lenders can issue the moratorium? All lending institutions like Public Sector Banks, Private banks, Regional rural bank, Small finance bank and Local area …