Bank Updates Only: 2020

Reserve Bank of India (RBI) Governor Shaktikanta Das slashed the key lending rate by 75 basis points (0.75 percentage point) in an emergency move on Friday, to counter the economic fallout from the rapid spread of the deadly coronavirus pandemic. The move came as the country entered the third day of nationwide lockdown to curb the spread of the virus, following an unscheduled meeting of its Monetary Policy Committee...

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Thursday, March 5, 2020

How to effectively run a public sector bank

Public sector banks (PSBs) are a bone stuck in the throat of the government, which can neither swallow them nor throw them out. The BJP government has little faith in a vibrant public sector being able to deliver value to the economy, which it wants on a rapid growth path. But a decent exit needs time and a level of attention to improve banks’ value...

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Cabinet approved plan for banking game-changer , 10 PSBs to turn into four big banks

The Cabinet has approved the consolidation of 10 public sector banks (PSBs) into four 'mega banks', Finance Minister Nirmala Sitharaman announced today. The Union Cabinet, she said, has given a go-ahead for the merger proposal and the government has been in regular touch with these banks....

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Wednesday, March 4, 2020

Strike call by Union this month to protest against merger of PSU banks

Days after bank unions called off a three-day bank strike from March 11, two unions called for another bank strike on March 27 to oppose the mega merger of PSU banks. Finance Minister Nirmala Sitharaman announced yesterday ....

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Govt asks SBI to form consortium to buy stake in YES Bank: Report

The government has approved a plan for country’s largest lender, State Bank of India, to lead a consortium that will buy a stake in private lender Yes Bank, news agency Bloomberg reported on Thursday. State Bank of India has been authorized...

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Saturday, February 29, 2020

Today's Bipartite Settlement talks with IBA - Points on which IBA agreed

Negotiation took place today. IBA started the discussion from 13.5% in view of the strike call without improvement of any other issues. After protracted discussion,it was agreed that hike will be 15% in pay slip cost, 5 day week will be pursued, a small committee will be formed to work out on increasing load from 2,% & spl allowance merger. IBA....
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Friday, February 28, 2020

IBA, UFBUs to meet on Saturday to close wage pact: Points to be discussed

The Indian Banks’ Association (IBA) and United Forum of Bank Unions (UBFU) will meet on Saturday to close the eleventh bipartite settlement. Among the key discussion points are an 18-20 per cent raise in wages and .....
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Thursday, February 6, 2020

Expected Salary hike after 11th Bipartite Settlement

Expected Salary hike after 11th BPS idea on 15% with 2% load factor

Friends Just simple calculation as per last 10th BPS (hike 15% with load 2%)

In this calculation double hike in Sp Pay........7.75 to 15.50%, 10 to 20% & 11 to 22%

It just a idea, final calculation may be differ due to load factor or maximum cap on total load.

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Friday, January 31, 2020

BOI and SBI reports net profit in Q3

Bank of India on Friday reported a consolidated net profit of Rs 138.20 crore for December quarter 2019-20.the state-owned lender had posted a net loss of Rs 4,643.71 crore for the year-ago period....

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State Bank of India (SBI), the country's largest lender by assets, reported its biggest quarterly profit in at least 15 years on Friday, as provisions for bad loans fell and asset quality improved....

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