12th Bipartite Settlement News

FM Nirmala Sitharaman lauded the Reserve Bank of India’s efforts in steering the bailout of Lakshmi Vilas Bank Ltd . by allowing a local unit of Singapore’s DBS Group Holdings Ltd. to buy the failed lender.  “That only sends the right message that Ind…

All India Bankers Officers Association (AIBOC) has released the press note in support of the agitating farmers of Punjab & Haryana. The Bankers Association has supported the agitation against the Farmers Bill and its implementation. AIBOC has dema…

BJP leader and top politician, Sri Subramanian Swamy blames RBI Governor Shakti Kanta Das for the shoddy deal of Lakshmi Vilas Bank – DBS Merger. Swamy writes to the PM, requests a CBI probe on the actions of RBI officials and Governor in this LVB-DBS…

All India Bank Employees Association (AIBEA) has sent a letter to IBA for correcting the Dearness Allowance paid to bankers for the month of November from 81.8% to 81.9%. They have argued that the CPI index at the start of the month was 118 but offici…

All India Bank Employees Union (AIBEA) has opposed the recommendations made by the RBI Internal Working Group (IWG) for allowing large corporates like Ambani, Adani, Tata, Birla's etc.  and other industrial houses to promote banks and permitting …

Ex-finance secretary S C Garg criticized present finance minister Nirmala Sitharaman and praised former Finance Minister Arun Jaitley in his blog post. He said that Jaitley’s focus on broader policy matters and left the running of the departments and …

Finance Minister has announced the Rs 10,000 special Festival Loan to its employees which they will have to utilize on festival related spending up to March 31, 2021.  The loan will be given to central government employees through a prepaid RuPay card…

Now being a Public Sector bankers, it is going to be mandatory for learning the additional language than Hindi or English. Finance Minister has said that there is no point in government banks claiming that they have pan-India presence when in some poc…

This is another suicidal for Public Sector Banks in India, government has decided to waive the compounded portion of interest on loans up to Rs two Crore where moratorium were given due to COVID-19. T he government has told the Supreme Court that it i…

The optimization of expenditure has come heavily on the government employees especially bank employees. Initially during COVID lock down and now with cost cutting.  The first in the race, as expected the State Bank of India (SBI) , the largest lender …

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…