Nirav Modi and Mehul Choksi are the name, which are in the headlines of every newspaper and news channels. And the reason is already known, the 11000+ crores fraud at PNB. A book by Ravi Subramanian has suddenly came into limelight these days. The book is “In the Name of Read more…
RBI, vide notification dated 12.02.2018 issued revised framework for resolution of Stressed Assets. In this notification, RBI has withdrawn the existing schemes such as CDR, SDR, S4A, JLF etc. For exposure of Rs.2000 crores and above, Banks need to resolve the default within 180 days otherwise file application with NCLT. Read more…
The Department of Financial Services has made it mandatory for all the banks to accept the education loan applications only through online mode. Banks have been directed not to accept education loan applications in physical form. Online education loan applications shall be received through NSDL portal called Vidya Lakshmi. Banks Read more…
United Forum of Bank Unions (UFBU) has called one day all India strike on 15th March 2018 for early settlement of 11th bipartite. 11th Bipartite Settlement for increase in salaries of bank employees is already due from 1st November 2017. There has been rounds of meeting between UFBU and IBA Read more…
DA for Bank Employees from February 2018 to April 2018 has to increased by 1.10 % (Read: How DA for Bank Employees is calculated). Bank Strike on 15th March 2018 DA slabs for the next quarter, February 2018 to April 2018 will be 527 i.e., 52.70 %. That means an expected Read more…
CBI has registered FIR against 22 employees of Punjab National Bank for alleged fraudulent disbursement of loan to various parties during 2011 to 2016, who were in coal business. The case in related to around four branches Bhopal and Ujjain. In this connection, CBI also conducted raids at 47 places Read more…
In a cheating case of Rs.2.40 crores, two bank officials have been punished with three years rigorous imprisonment by a special CBI Court. In the instant case, a case was registered with CBI by the CVO of State Bank of Mysore’s against Bhopal branch’s the then Branch Manager A S Read more…
The mobile Banking App you are using on your Android phone may be at risk. Quick Heal Security Labs has discovered an Android Banking Trojan that targets 232-plus banking and finance apps. The malware is called Android.banker.A9480. This is designed to steal login credentials, hijack SMSes, show fake notifications, send USSD Read more…
United Forum of Bank Unions (UFBU) has written a letter to Department of Financial Services, Ministry of Finance on the issue of wage revision in 11th bipartite settlement, which is due from 1st November 2017. UFBU has requested the Government to advise IBA to hold negotiations without further delay and Read more…
Reserve Bank of India imposes a penalty of Rs.3 Crores on the private sector lender IndusInd Bank for non compliance with RBI guidelines and directions. RBI in a press release on on 13-12-17 stated that The Reserve Bank of India (RBI) has imposed on December 12, 2017, a monetary penalty Read more…