Wage Revision of banks employees is done through bipartite settlement between UFBU and IBA. 12th bipartite settlement is due from 1st November 2012. UFBU is yet to submit charter of demand for the settlement. As such, there is no significant development and there seems no chances of bankers would get Read more…
What is 12th Bipartite Settlement? Salary and other allowances/ emoluments of bank employees are revised every 5 year through bipartite settlement (BPS) between bank unions (UFBU – United Forum of Bank Unions) and IBA (Indian Bank Association). Next Salary revision for bankers will be through 12th Bipartite Settlement. When is Read more…
At present, the process for getting KCC finance requires customer to visit a bank branch in-person along with the proof of land ownership and other documents. Sometimes, the customer may be required to visit the bank branch multiple times. The Turn Around Time (TAT) from loan application to disbursement has Read more…
Quick mortality is a term used in banking for loan accounts which turn bad (classified as Non Performing Assets or NPA) within a period of one year. The term signifies that account died quickly. A loan account is termed as Quick mortality account if it becomes NPA within one year Read more…
Unions of Public Sector Insurers demand wage revision before restructuring: “The management and the government wanted to discuss the restructuring of the four primary insures as suggested by the Ernst & Young (EY) whereas the unions wanted the wage revision to be completed first before other issues are taken up,” Read more…
The Central Bureau of Investigation has arrested a Branch Sales Manager, ICICI Bank, Bhuteshwar Branch, Mathura (Uttar Pradesh) and a Sales Executive(Outsource employee of said Bank) for demanding & accepting bribe of Rs.50,000/- from the Complainant. A case was registered against the accused on a complaint. It was alleged that Read more…
The new labour code is talking about permitting four days working in a week in the country. And the Banking Industry is still dreaming about getting a 5 days banking in week. Bankers are demanding for 5 days working in a week for more than a decade but still remains Read more…
Purvi Modi, sister of Nirav Modi, who allegedly defrauded PNB of Rs 13,000 crore – has offered to remit Rs 275 crore to the government as part of a pardon deal, The Indian Express has reported Three masked thieves, who came in a car, broke open a PNB ATM at Read more…
RBI on 09.07.2021 has issued circular for Mandatory Leave for Employees Posted inSensitive Positions or Areas of Operation in Banks. RBI has advised All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks following: The banks Read more…
Which are the largest banks in India and how they have grown from 2007 to 2020? Watch out ranking of the banks in terms of total business SBI remains at the top. Second Place contested by PNB, BoB, ICICI, HDFC.