Pension for RRB Employees at par with Nationalised Banks

Pension for RRB Employees at par with Nationalised Banks

On 25th April, 2018, a Supreme Court Decision has come in favour of employees of Regional Rural Banks (RRB). After a two decade long legal battle, Supreme Court has now decided that employees of RRBs to draw pension at par with Nationalised Banks. Supreme Court...
Gratuity increase for bankers – Lok Sabha passes the bill

Gratuity increase for bankers – Lok Sabha passes the bill

Lok Sabha today passed the amendment in Payment of Gratuity Act to increase the Gratuity ceiling to Rs.20 lacs. The existing limit for gratuity was Rs.10 lacs. After implementation of seventh pay commission, gratuity ceiling was increased from Rs.10 lacs to Rs.20 lacs...
Passport Details must for more than 50 Crore loan

Passport Details must for more than 50 Crore loan

Finance Ministry on Saturday said passport details will be made mandatory for loans of more than Rs.50 crore from state run banks. Passport details will help banks to take timely action and inform the relevant authorities to prevent fraudsters from fleeing the...
RBI imposes Rs.5 Crore Penalty on Airtel Payment Bank

RBI imposes Rs.5 Crore Penalty on Airtel Payment Bank

The Reserve Bank of India (RBI) has imposed penalty of ₹ 5 crores on Airtel Payments Bank Limited for contravening the ‘Operating Guidelines for Payments Banks’ and directions issued by RBI on Know Your Customer (KYC) norms. This penalty has been imposed in exercise...