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…
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…
IBA vide letter dated 01.10.2019 has advised all Public Sector Banks and Private/ Foreign Banks who are parties to bipartite settlement to release adhoc payment pending finalization of 11th bipartite settlement. Next round of bipartite settlement to take place on 15th October According to the said IBA letter, 30 rounds Read more…
Next round of bipartite settlement discussions to start on 29th August 2019. The 11the bipartite settlement is due since November 2017. Indian Bank Association (IBA) vide letter dated 19.08.2019 adressed to UFBU invited bankers unions for wage talks in Mumbai. Nine unions/ associations will participate in the bipartite discussions for Read more…
DA for bank employees increased by 3.6% for the quarter, August 2019 to October 2019. Read: Increase in Expected DA from November 2019 Read: How DA for Bank Employees is calculated. DA Chart for Bank Officers and Workmen Staff from August 2019 is given below. Based on the CPI Read more…
Wage negotiations under bipartite settlement for workmen of public sector banks may resume soon. But it is unlikely that bank officers’ associations will join the discussions. The wage revision of public sector bank employees is due since November 2017. Officers’ associations are not agreeable for the proposal to link a Read more…