Banking operations at public sector banks across the country were impacted on Tuesday as the United Forum of Bank Unions (UFBU) went on nationwide strike demanding the immediate implementation of a five-day work week.
Each employee is generating more business than before -- driven by cost rationalisation, digital adoption, and better resource utilisation -- signalling a stronger foundation for sustainable growth and profitability.
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
Abusive language, threats, harassment, excessive or anonymous calls, public humiliation, and misleading representations are explicitly prohibited.
The new labour Codes, notified by the central government in November 2025, have pushed up employee costs for private-sector banks and insurance companies, with these firms reporting higher operating expenses in the October-December quarter (Q3FY26) due to the statutory impact of the new labour Codes.
India's main inflation measure, the Consumer Price Index (CPI), is set for another major update, even though it has been in its current form for only about 15 years.
'India is often skipping legacy cycles and moving directly to advanced AI-driven operations.'
Normal banking operations were affected on Wednesday as the Left-leaning bank employees went on a one-day nation-wide strike to protest the proposed merger of the State Bank of Indore with its parent SBI.
Public sector banks' (PSBs') employee count grew for the first time in five years while private sector banks' staff strength saw a decline in 2024-25 (FY25), according to latest data released by the Reserve Bank of India (RBI). The employee count of state-owned lenders rose 0.22 per cent year-on-year (Y-o-Y) to 757,641 at the end of March 31, 2025 from 756,015 in FY24.
The Enforcement Directorate on Thursday said it has restituted funds worth more than Rs 300 crore towards long-pending dues of the former workers of now defunct Kingfisher Airlines that was promoted by fugitive liquor baron Vijay Mallya.
A nationwide strike called by central trade unions saw a mixed response across India, impacting various sectors and states differently, with some areas experiencing disruptions while others remained largely unaffected.
'The real question is how best to leverage technology to deliver better services, all the way to the last mile, where we still haven't been able to get across the financial literacy that can enable us to unlock the potential of the entire country.'
Bank employees are planning to go on strike on December 16 during the Parliament Session against banking sector reforms such as privatisation of public sector banks (PSBs) and closure and merger of associate banks/other PSBs with State Bank of India.
rediffGURU Pankaj Vyavahare, career counsellor and life coach, explains how you can survive in the age of AI.
Bank unions on Friday deferred their two-day nationwide strike beginning Monday after they received positive assurance from both the finance ministry and the IBA on their demands, including a five-day work week and adequate recruitment in all cadres. The strike call for March 24 and 25 was given by United Forum of Bank Unions (UFBU), an umbrella organisation of nine bank employees' association.
The United Forum of Bank Unions (UFBU) on Thursday said its two-day nationwide strike on March 24 and 25 will be observed as scheduled since discussions with the Indian Banks' Association (IBA) over key demands failed to yield any positive outcome. In a meeting with the IBA, all UFBU constituents raised issues, including recruitment in all cadres and a five-day workweek.
The Pakistan Cricket Board (PCB) could face massive financial losses if the ICC's all-powerful governing board decides to penalise them for refusing to play the T20 World Cup match against India on February 15 in Colombo.
'Given that the population is almost evenly split, the Indian economy cannot grow without women participating in the workforce.' 'While women's participation has increased, it is still well below 40 per cent,' says Kartik Narayan, CEO of the professional networking and jobs platform, Apna.
India's market regulator has found that Bank of America shared confidential details ahead of a 2024 block trade and later misled regulators during the investigation.
Investors and startup executives are calling for extending the period for an entity to be recognised as a startup from 10 to 15 years for deep-tech companies.
'Corporates now have multiple funding sources beyond banks, and many are sitting on large cash reserves.'
Ecommerce (ecom) and quick commerce (qcom) platforms are expected to lead gig worker hiring in calendar year 2026 (CY26), adding nearly 1 million workers on the back of sustained demand for last-mile deliveries, higher order volumes, and continued expansion of dark stores into non-metropolitan cities, industry experts have said.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
The unions have also threatened to explore an indefinite strike option, if their demands were not addressed.
Banks will be able to give loans to Indian companies for acquiring the entire equity stake or a controlling part of it in domestic or foreign firms as strategic investment that creates long-term value rather than for short-term financial restructuring if the Reserve Bank of India's (RBI's) draft circular, issued on Friday, comes to fruition.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
The country's largest private sector lender HDFC Bank does not see its use of artificial intelligence leading to any layoffs, a top company official has said.
According to Association officials, Indian Banks' Association offered only a 11.5 per cent increase in hike compared to 17.5 per cent offered in 2011-12.
Employees of public sector banks (PSBs) on Thursday went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country. Many branches across different parts of the country were shut as the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had given two day strike call. As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals might be affected due to the strike. But ATMs are expected to function as usual.
The size or turnover of a company, or even the salary package offered, no longer prevents employees from quitting, notices rediffGURU Pradeep Pramanik.
EPF doesn't just build your retirement fund -- it also provides free life insurance up to Rs 7 lakh under the EDLI scheme.
At a time when the finance ministry is focusing on addressing employee grievances, the number of employees in most public-sector banks (PSBs) has declined over the last three financial years.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
India's $280-billion IT industry heads into 2026, balancing visa-related headwinds and global trade uncertainty against its biggest-ever push into artificial intelligence and the rapid expansion of global capability centres (GCCs). Heightened scrutiny of the US H-1B visa programme - including a proposed $100,000 fee for new visas and concerns over a potential 25 per cent outsourcing tax - has complicated cross-border delivery for Indian firms, even as companies accelerate efforts to reduce reliance on onsite staffing.
The IDFC First Bank Engineering Scholarship covers the actual annual fee or Rs 1,00,000 per year, whichever is lower.
The unions have called for a strike against proposed closure of associate banks and their merger with the State Bank of India
'Do exhaustive research and then select the one that best fits your budget and requirements.'
State-owned banks are prioritising local language skills in their hiring to improve customer service and reduce language barriers.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances