Foreign banks operating in India want the Reserve Bank of India to prepare a vision document on policy changes they can expect after March 2009.
However, the likely impact of strike may not be much excluding few areas, said SBI.
Using ATMs beyond the permissible free transactions for cash as well as non-cash purposes will cost more from Saturday. As per the Reserve Bank directive issued in June, the banking customers would be required to pay Rs 21 per transaction with effect from January 1, 2022 for transactions beyond the free permissible limit. Presently, banks are allowed to charge Rs 20 for such transactions through ATMs.
The United Forum of Bank Employees Unions (UFBEU) representing about 9.5 lakh (950,000) bank employees across the country, has given a two-day nation-wide bank strike call on August 6 and 7 in support of their expedite settlement of wage revision demands.
Interest subsidy to cost Rs 200 cr for the government.
The Indian Banks' Association (IBA) on Friday asked Reserve Bank to allow home-grown banks to set up intermediate holding companies for raising capital for their insurance, asset management and allied businesses.
Acknowledging that the credit delivery system is not functioning as expected, RBI has constituted two committees as directed by the ministry.
Zohram Kwame Mamdani would be the city's first Muslim and Indian American mayor if elected New York mayor this November.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
The interchange fee -- paid by the card-issuing bank when a customer swipes at another bank's ATM, including at white-label ATMs -- may be raised to Rs 20 to Rs 23.
Thousands of public sector bank employees across the country now have reason to rejoice.
Over 8.5 lakh employees, majorly from public sector banks (PSBs), will get a 15 per cent hike in pay, with the conclusion of the 11th Bipartite Wage Negotiations on Wednesday. After three years of intense negotiations, the UFBU, which represents four bank officer associations and five workman unions, and the IBA on July 22 entered into a memorandum of understanding (MoU) for an annual wage hike of 15 per cent.
Bank unions on Thursday called for a nationwide strike on August 24 to protest the 'negative attitude' of the Indian Bank Association over employees' wage revision.
The Centre is planning to raise the ceiling on foreign equity holding in public sector banks to enable them to mop up the required capital for meeting higher capital requirements and to fund growth.
Banks all over the country will observe a day's strike on August 24 in protest against the delay in settlement of wage negotiations.
Indian Banks' Association on Thursday said banks cannot lower their lending and deposit rates any further under the current scenario.
On the heels of Delhi Consumer Court imposing Rs 55 lakh fine on ICICI Bank for the excesses committed by its recovery agents, the Indian Banking Association has asked all the banks to follow the industry code of conduct with regard to collection of bad debts.
Public sector banks have asked the Centre to intervene as talks with bank unions for allowing half of their employees a second chance to opt for pension instead of provident fund have reached a deadlock.
Banks may approach the government to further strengthen the Securitisation Act, which apparently got diluted with the waiver of a provision requiring defaulters to deposit 75 per cent of the loan
Banks have urged the Reserve Bank of India to allow time till July to implement the proposed base-rate model, which was introduced by the apex bank early this month to bring in transparency in the lending.
Banks and staff unions had settled on a 17.5 per cent salary hike, to benefit about 702,000 public sector employees, besides agreeing to make 332,000 serving and retired employees eligible for pension.
Besides wage revision and compassionate appointment, the UFBU is also demanding provision of one more option for pension.
Foreign investors continue to pull back money from the Indian equity market withdrawing a little over Rs 30,000 crore in the first fortnight of the month amid escalation in global trade tensions. This came following an outflow of Rs 34,574 crore from equities in February and Rs 78,027 crore in January.
The Indus system of rivers comprises the main river -- the Indus -- along with its five left bank tributaries, namely, the Ravi, the Beas, the Sutlej, the Jhelum and the Chenab. The right bank tributary, the Kabul, does not flow through India.
C H Venkatachalam, convener, United Forum of Bank Unions, the umbrella body of the nine unions, said due to the failure of Thursday's talk between Indian Banks Association and UFBU before the chief labour commissioner, they have decided to go ahead with the strike. IBA is yet to resolve issues regarding wage revision and the pension option.
'I am not an aspiration-oriented politician.' 'This is the time to redefine politics.' 'Politics of power is not real politics.'
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
The United Forum of Bank Employees Union has taken this decision of going on strike after failure of talks with the Indian Banks Association on May 11, C H Venkatachalam, convenor of UFBU, said.
In Kerala's society, known for its high material standard of living, plunging into a state of having nothing overnight can be terrible for one's social standing and sense of self-esteem. Rehabilitation entails piecing a community back together after a disturbance and while its aim is noble, the act of reassembling will bring alive disparities and inequalities, explains Shyam G Menon.
Bankers have decided to fight back against 'arbitrary arrests' and 'harassment' by probe agencies.
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.
