Credit Card & eWallets Transaction are Now Added in Form 26 AS

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…

Depositors Association (AIBDA) Demands to Freeze the Deposit Rates

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 Defer Perquisites, 20% Reduction on Yearly Basis

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 Part Of Strategic Sector For Privatisation

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…

Discussion on Privatization of Listed Public Sector Banks

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…

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 …

Bank Unions Raise Concerns over Non Settlement of 11th BPS

Bank Unions Raise Concerns over Non Settlement of their long pending wage revision under 11th BPS -  Many bankers raised questions on wage revision, pointing out that while bankers have been carrying out operations on a daily basis amid the national …

AIBOC Requested CVC ,Not to Transfer Bank Officers for a Year

All India Bank Officers Confederation (AIBOC) in a joint request with other bankers' union to  Chief Vigilance Commissioner of India to put hold on the transfer of public sector bank officials for a year. Copy of the letter has also been sent to …

Opinion - States Approved 12- Hour Daily Work Shifts

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…

State Bank of India (SBI) May Ask Employees to Work from Home

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…

Government Puts DA Hike for Government Employees on Hold

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…

Bank employees seek transportation, police protection for working

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…

Should you accept the RBI's 3 Months EMI Moratorium ?

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 …

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