The Reserve Bank of India (RBI) unions have decided to intensify their stir demanding revision of wages, pending since November 2017, and have called for mass casual leave of employees at the central bank on November 30. However, several sources in the RBI told Business Standard that the unions may not have to go on agitation, as the new contours of the wage pact have been almost finalised and could be announced any time. An email sent to the RBI was not answered. The United Forum of Reserve Bank Officers and Employees had deferred its agitation earlier after it was told that RBI Governor Shaktikanta Das was to hold talks with the human resource management department (HRMD).
The unions -- AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEA, INBOC, NOBW and NOBO -- had on August 22 participated in a one-day token strike.
Several people are still feared trapped in the debris after a series of landslides that occurred in Chooralmala and Mundakkai of Wayanad.
Scheduled commercial banks have written off loans amounting to over Rs 10.09 lakh crore in the last five financial years and the process of recovery of dues from the borrowers continues, Union Finance Minister Nirmala Sitharaman informed the Lok Sabha on Monday.
Equity fundraising through qualified institutional placements (QIPs) has gained traction, thanks to supportive equity markets and the need for fresh fundraising to meet capital expenditure (capex) requirements.
Nagnyal said 26 people were in the vehicle and most of them were residents of Delhi. Ten people died in the accident, the IG said.
As per the mega consolidation plan, Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. Following this merger, PNB will become second largest after the SBI, Canara Bank fourth, Union Bank of India fifth and Indian Bank seventh biggest public sector lender.
>Bihar (18 days) has the most number of heatwave days in 2023, followed by Andhra Pradesh (15 days), Odisha (15 days), Jharkhand (13 days), West Bengal (8 days) and Tamil Nadu (6 days).
What may work for the BJP is the growing resentment against V K Pandian, a bureaucrat-turned-politician who Jay Panda alleges has hijacked the Odisha government.
Union Bank of India has posted a 4.49 per cent rise in net profit at Rs 150.04 crore (Rs 1.50 billion) for the third quarter ended December 31, 2003, compared to Rs 143.58 crore (Rs 1.43 billion) reported for the same period in the previous fiscal.
United Forum of Bank Unions, apex union of bank employees, claimed that over 10 lakh employees and officers are observing strike to press their demands.
While the minimum holding period for LTCG taxation has now been lowered, the tax outgo could be a bit higher under the new structure.
It is Finance Minister P Chidambaram's meeting with leaders of public sector bank unions that averted the three-day bank strike proposed from March 28.
At least two public sector banks Union Bank of India and Indian Overseas Bank have quietly increased interest rates on short-term deposits to raise resources and manage asset-liability mismatch. Union Bank has announced a special deposit scheme for 400 days, which offers 9 per cent interest. The scheme was launched much before the announcement of the monetary policy. Chennai-based Indian Overseas Bank has also raised rates for large deposits.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
'There is no immediate threat to the government, and they would prefer the growth agenda.'
Public sector banks have raked in more profits in the three months ended June on the back of a persistent decline in bad loans and the trend may have a positive bearing on their balance sheets in the coming quarters. In the June quarter, Bank of Maharashtra (BoM) and State Bank of India (SBI) were in the lowest quartile as far as Gross Non Performing Assets (NPAs) and net NPAs were concerned, according to an analysis of the quarterly financial numbers published by the public sector lenders. Cumulatively, all the 12 public sector banks reported a profit of about Rs 15,306 crore in the three months ended June, registering an annual growth of 9.2 per cent. However, leading public sector lenders -- SBI and PNB -- posted lower profits in the June quarter.
Robert Vadra indicated that he will also join politics and said there is an atmosphere of change in the country. His entire family is working diligently on this, he added.
The assertion comes in the wake of the Supreme Court directing the SBI to submit the details of the electoral bonds purchased since April 12, 2019 to the EC.
A bank employee from Rajasthan was shot dead on Thursday by terrorists in Kulgam district of Jammu and Kashmir, officials said.
In December last year, the finance ministry had asked five state-run banks -- Punjab National Bank, Canara Bank, Union Bank of India, Bank of Baroda and Bank of India -- to explore merger opportunities in the banking industry.
The police said that the threat email was sent from the accused, Mohammed Arshil's ID.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
The United Forum of Bank Unions consisting of nine bank unions has threatened to go on a one-day strike on August 24 in support of their wage demand.
New Delhi has reached out to Moscow while waiting for a new president in Washington. New Delhi knows well that in international relations, there are no permanent friends or foes, only permanent national interests, points out Dr Rup Narayan Das.
Independence Day was celebrated across states and Union territories on Thursday, as several chief ministers announced job schemes while some others vowed their support for Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047.
'Why is she against refugees obtaining citizenship? I request refugees not to be afraid, please apply for citizenship'
Strike is total, impacts all branches of PSU and private banks. Clearing operation at RBI also hit.
'The committee has been constituted. Different government departments and FSDC members are part of it.'
The statement implicated members of the Mukhiya gang, accused of orchestrating multiple interstate paper leaks, as the source of the leaked answer sheet.
Union Bank of India plans to distribute mutual fund products of DSP Merrill Lynch Mutual Fund as a part of its strategy to increase fee based income.
Banking shares are down up to 11% after the Reserve Bank of India has increased the policy repo rate by 25 basis points from 7.25% to 7.5% with immediate effect.
Short-term government bonds fell behind longer-dated securities in demand this month so far due to a liquidity crunch in the banking system and expectations of a delay in a rate cut, said market participants. Investors have favoured longer-tenure government bonds, or g-secs, with insurance companies and pension funds leading the charge by stocking up on those with maturities of 30 years and more. Preference for longer-term securities was strengthened by the conclusion of the borrowing programme, which compelled institutional investors to fulfil their requirements in the secondary market.
Demands include 5-day banking, PF to be calculated on total salary and allowances, not only on basic
Under the plan, more than 6,000 banks in the 17-nation euro zone will be put under the single supervisory body, which will be led by the European Central Bank based in Frankfurt.
The Banking Laws Amendment Bill contains provisions such as raising of shareholders' voting rights from 10 per cent to 26 per cent in private banks and suppression of bank boards.
In all, 14 unions representing bank employees and officers will be supporting the day-long stir.
Banking operations were affected as the strike call given by the employees union to press for wage related issues entered the second day on Thursday.
Banking operations are likely to be hit on Tuesday as unions have called a nationwide strike to protest mergers of public sector undertaking banks and the proposed hike in foreign direct investment limit to 74 per cent in the sector.
Prime Minister Narendra Modi on Friday said the world sees yoga as a powerful agent for global good as it helps people live in the present without carrying the baggage of the past.
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