In a letter addressed to SBI Chairman and MD&CEOs of all Nationalized Banks, Department of Financial Services, Ministry of Finance directed banks to cut expenditure. Banks have been advised to take economy measures in the context of COVID-10. Banks have been advised to defer avoidable expenditure such as purchase of Read more…
What is Diversion of Funds? Diversion of Funds means (mis)utilization of Funds for a purpose for which loan was not sanctioned. Most common example is buying immovable property out of the Cash Credit Limit, which is being sanctioned for working capital purposes. Utilisation of short-term working capital funds for Read more…
Bank promotion exams are held in almost every bank and if you are appearing for promotion in your bank in 2021, you must be looking for Bank Promotion Study Material. If you are not sure which topics are covered in the bank promotion test, you have landed to correct page. Read more…
With the widespread outbreak of Corona Virus, various Public Sector Banks have asked the employees at corporate offices (Head Office, Zonal Office, Circle Office etc.) to work from home on alternate days. Half of the workforce will attend offices on one day and the other will work from home and Read more…
According to BloombergQuint, in the 12 largest accounts, referred for insolvency proceedings in June 2017 as identified by RBI, there is about 40% recovery. According to data, banks have been able to recover Rs 1.16 lakh crore out of the Rs 2.96 lakh crore in claims admitted. So far, 11 Read more…
Central Chief Labour Commissioner (CLC) has advised Indian Banks’ Association (IBA) and the bank to resolve their differences over wage negotiations in the next 15 days. The issue of delay in bipartite wage settlement was discussed Monday at a joint meeting between IBA, bank unions and officers from department of Read more…
Update 31 January 2020: DA for bank employees increased by 4.20% for the quarter February 2020 to April 2020. Good News for bankers amid the deadlock on salary increase under 11th bipartite settlement, which is pending since November 2012. And the good news is that Dearness Allowance for bankers has Read more…
According to a report in Business Standard, United Bank of India has written to the Government seeking a new name for the entity formed out of its merger with Punjab National Bank and Oriental Bank of Commerce. Syndicate Bank, which is to be merged with Canara Bank, is also planning Read more…
Next round of negotiations for 11th bipartite talks to be held on 15th October 2019. The news has come just after the news of IBA advising for adhoc payment of one month salary (advance against arrears) to bank employees in view of delay in wage revision and looking into the Read more…
Update: 31/10/2019: DA for Bank Employees increased by 3.60% for the quarter, November 2019 to January 2020. We had projected it at 3.50% in the month of July 19. CPI for the month of September 2019 is 322, which is 2 points above the August 2019. CPI was 319 for Read more…