Merger News – Canara Bank to merge Vijaya Bank & Dena Bank

Merger News – Canara Bank to merge Vijaya Bank & Dena Bank

There is a possibility that Canara Bank will acquire Vijaya Bank and Dena Bank as the Government wants to create a few big Banks instead of various small banks. According to sources, Vijaya Bank and Dena Bank will be merged first and a new entity will be formed. This...
SBI mandate for 11th BPS for upto Scale III only

SBI mandate for 11th BPS for upto Scale III only

The first meeting for negotiating to salaries of Banks employees under 11th Bipartite Settlement has already taken place on May 2. UFBU has submitted the summary of demands, however, detailed charter of demand is yet to be submitted. But now it has come to light that...
RBI puts restriction on IDBI Bank as Prompt Corrective Action

RBI puts restriction on IDBI Bank as Prompt Corrective Action

Reserve Bank of India has invoked ‘Prompt Corrective Action’ (PCA) on IDBI Bank. The PCA has been invoked by RBI due to IDBI Bank’s increasing NPAs and negative Return on Assets. IDBI Bank’s net NPAs increased to 9.61% in the December 2016 quarter...
Huge salary hike for RBI Governor Urjit Patel

Huge salary hike for RBI Governor Urjit Patel

Government has given a big pay hike for RBI Governor Urjit Patel and Deputy Governors of RBI. Basic salary of Urjit Patel, RBI Governor has been increased from Rs.90,000 per month to Rs.2,50,000 per month and that of deputy governors, it has been increased from...
UPI Fraud : Bank of Maharashtra lost 25 crores

UPI Fraud : Bank of Maharashtra lost 25 crores

Bank of Maharashtra has reported that the bank has lost Rs.25 crores due to a fraud through UPI app. The fraud took place due to a bug in UPI , which was used by a some people in Aurangabad.   How the fraud took place: A few people discovered that even if you...

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