Finance minister has approved revision in CGM level post in public sector banks. Earlier, the CGM (Chief General Manager) post was permitted in select banks, however, finance ministry has now allowed the it in all public sector banks irrespective of size of business. CGM is a scale VIII level designation Read more…
Meaning of pari passu charge – Pari-passu is a Latin phrase, which means “equal footing”. Thus pari passu charge means, having equivalent charge/ rights or say charge-holders have equal rights over the asset on which pari pasu charge is created. “Pari Passu” charge means that when borrower company goes into Read more…
The Simplified Turnover Method is normally used by banks in order to assess the working capital requirement of business enterprises. Working Capital Loan finance may include cash credits or overdraft accounts maintained with banks, the bills purchases / discounted, term loan etc. However, it is really confusing to understand the Read more…
As per AIBOC Circular dated 13.09.2023, the officers’ associations today, submitted a Supplementary Charter of Demand to the IBA incorporating many more points based on the current scenario in the industry. The Supplementary Charter of Demand is as under: • For sickness of “Special Child”, sick leave should be sanctioned Read more…
Wage revision for bankers is due since November 2022, which is to be finalized through 12th Bipartite Settlement between employees unions and IBA. To discuss the issues regarding the ongoing salary revision, a meeting between IBA and UFBU was held on 31.08.2023. UFBU message regarding the outcome of meeting held Read more…
DA for Bankers is expected to increase for the quarter May 2023 to July 2023. CPI data for the month of January 2023 has been released, which is 132.80. Dearness Allowance for Bank Employees is 588 slabs, which translates to 41.16% for the present quarter of February to April 2023. Read more…
If you’re a banker, you know that staying up-to-date on industry trends and best practices is crucial to your success. One way to do this is by reading books that provide insight and guidance on the world of banking. In this post, we’ll recommend a few must-read books for bankers Read more…
DA for Bankers is increased for the quarter February 2023 to April 2023. CPI data for the month of October, November and December 2022 has been released, which is as under: October 2022 132.50 November 2022 132.50 December 2022 132.30 Read: How to pass JAIIB in first attempt Read: Charter Read more…
12 Bipartite Settlement for revision of bank employees’ salary and service conditions is due from 1st November 2022. Finally, the Charter of Demands has been submitted by Bank Unions to IBA. Read: How to pass JAIIB in first attempt So What’s the status of Charter of demand? Four Officers’ Associations, Read more…
5 Days Banking is a long pending demand of Bankers. This demand has is being carried forward from one settlement to settlement. Two Saturday’s off was achieved in 2015 at the cost of giving away all Saturdays half days working. The issue is still under discussion between Bank Unions and Read more…