As many as 8.5 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2017.
This is the second all-India bank strike in as many months.
During the negotiations held on May 5, IBA made two unacceptable propositions including an offer of 2 per cent hike in the wage bill cost as on March 31, 2017
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for Covid-19 vaccination, saying they are exposed to high risks during these difficult times.
While wellness-related facilities and activities used to be considered luxury offerings, hospitality industry executives note that it has now become a mainstream expectation among guests.
The employees associations of Industrial Finance Corporation of India have requested the government to merge it with a strong bank or financial institution.
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 country's biggest lender, State Bank of India (SBI), plans to hire around 3,500 officers to bolster its operations and enhance service delivery nationwide.
The association also wondered how the brand value of Kingfisher was considered as a collateral while sanctioning a loan, and alleged that even when RBI knew that this was a "deliberate default", no action was taken by the banks.
Unions, which are protesting against FDI in the banking sector, are pressing for various demands.
'SBT's merger with SBI could lead to closure of several branches and hurt employment opportunities.'
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders. Customers will be inconvenienced to get services such as cash withdrawals, deposits, cheque clearances, remittance services. Government transactions related to treasury as well as business transactions will also be impacted. United Forum of Bank Unions (UFBU), an umbrella body of nine unions, had given a strike call for March 15 and 16.
About 1 million bank officers are expected to participate in the strike on May 30 and May 31
Cheque clearances and cash withdrawals and deposits in public sector bank branches across the country were hit as employees started a two-day strike on Monday to press for a revision in wages.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
Bank of America has been hit by a whistleblower complaint that its officials in Asia had shared "non-public information" with investors "before the bank sold hundreds of millions of dollars of stock", reports the Wall Street Journal.
The central government has asked public sector undertakings to dissuade their employees from participating in the bandh.
AIBEA said that on April 19 its officer bearers would meet in Punjab to decide the next course of action.
Clearing operations and other transactions were partially affected in around 5,000 branches of State Bank of India's six associate banks on Tuesday after their employees went on a nationwide strike to press various demands.
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29 to protest against the government policies affecting workers, farmers, and people.
The decision is in response to the strike call given by United Forum Of Bank Unions, which has more than 10 lakh (1 million) employees and officers of banking Industry under its umbrella.
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
RBL Bank's interim chief executive officer (CEO) and managing director (MD) Rajeev Ahuja on Sunday tried to allay concerns around the health of the bank. He said events during the weekend are not linked to RBL's asset quality. The bank said Vishwavir Ahuja, its managing director (MD) and chief executive officer (CEO), had on Saturday proceeded on leave with immediate effect on medical grounds.
'In India, managers and the leadership almost glorify overworking.'
The unions opposed any move to force banks to lend more money to the airline, saying Naresh Goyal is still the promoter and major shareholder with 51 per cent stake and it is his headache to run the company or sell it to someone.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
Dr Sulbha Arora, clinical director and fertility specialist at Nova IVF Fertility, explains everything you need to know about egg freezing in India, including the process, the cost and the risks involved.
'All commercial and banking transactions happen in South Mumbai.'
Assam journalist Dilwar Hussain Mozumder was arrested for a second time on Thursday after being granted bail in a previous case where he was accused of attempting to steal bank documents. The arrest came after Mozumder questioned the Managing Director of the Assam Cooperative Apex Bank Limited about alleged financial irregularities. Assam Chief Minister Himanta Biswa Sarma claimed that Mozumder is not a "recognized journalist" as the government only recognizes journalists from print and electronic media.
Bank unions said they will not participate in the 'Bharat Bandh' on Tuesday, even as they expressed solidarity with farmers protesting against the new farm laws. Farmer groups, camping at various Delhi border points for over a week, have called for a nationwide shutdown on Tuesday to protest against three recently enacted agriculture-related legislations.
Bank unions appear to be divided on whether or not to go on a two-day nationwide strike on October 5 and 6.
Banking services are likely to be affected for the next four days as employees of PSU banks plan to go on a zone-wise relay strike beginning with Southern region from Tuesday, after wage revision talks failed.
While Dhanlaxmi Bank faces governance issues similar to those in Lakshmi Vilas Bank, the financial profile of the Kerala-based bank is better.
'Vigilance' is a dreaded term for PSB employees and there are instances where this fear is misused by the higher authorities to tame their subordinate officials. This fear always deters PSB executives from making decisions -- the fewer the decisions, the less the chance of falling into trouble, points out Tamal Bandyopadhyay.
All India Bank Employees Association general secretary and a leader of the bank union movement Tarakeswar Chakraborty died of a heart attack last night, family sources said.
Ten trade unions to go on strike to protest against changes in labour laws
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
Banks have started organising silent demonstration in front of houses of defaulters.
United Bank of India and Andhra Bank employees start organising silent protests.
