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Banking News dated 5th October 2018

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Banking News: October 5, 2018


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Chanda Kochhar quits ICICI Bank,  Sandeep Bakshi is the new chief


Chanda Kochhar quits ICICI Bank,
Sandeep Bakshi is the new chief

The Moneylife Online
Published on October 4, 2018


Mumbai, October 4: Chanda Kochhar has quit ICICI Bank with immediate effect, says a regulatory filing from the bank. The board of ICICI Bank has decided to appoint Sandeep Bakshi as managing director and chief executive for next five years.

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11th Bipartite Settlement Latest News as on 1st October 2018

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Text of UFBU Circular No. UFBU/2018/16 dated 01.10.2018Issued by Sanjeev Bandlish, Convenor, UFBU

11th Bipartite Settlement Latest News as on 1st October 2018

Dear Comrades,
  • Discussions with IBA on our Charter of Demands
  • IBA proposes Fixed Pay & Variable Pay Scheme/Performance Linked Emoluments based on Operating Profits and Return on Assets

One more round of Bipartite Discussions were held on 29-9-2018 between UFBU and IBA at Mumbai.  In continuation of the last round of discussions, IBA wanted to know our reaction to their offer of 6% hike made in the last round of talks.  Responding to their question from our side, we pointed out that their offer is too inadequate and we asked IBA to improve their earlier offer.

However, IBA proposed that in addition to 6% hike offered by them which would be common to all Banks, additional wage increase can be worked out through a scheme by which in each Bank annual increase in emoluments can be offered based on Operating Profits and Return on Assets of the individual Bank with a view to add an element of performance linked compensation over and above the uniform pay structure.

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Banking News dated 4th October 2018

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Banking News: October 4, 2018


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Wage Revision: Discussions with IBA

Wage Revision: Discussions with IBA

Text of UFBU Circular No. UFBU/2018/16 dated 01.10.2018
Issued by Sanjeev Bandlish, Convenor, UFBU


Dear Comrades,
  • Discussions with IBA on our Charter of Demands
  • IBA proposes Fixed Pay & Variable Pay Scheme/Performance Linked Emoluments based on Operating Profits and Return on Assets

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AIBOC Launches Agitation Programs against Forced Merger Of Vijaya Bank, Dena Bank & Bank of Baroda

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Dear Friends,

AIBOC (All India Bank Officers' Confederation) Launches Agitation Programs against Forced Merger  Of Vijaya Bank, Dena Bank & Bank of Baroda and released a Press note on 3rd October 2018.

Please follow below circular for more details.......!!!

AIBOC Launches Agitation Programs against Forced Merger  Of Vijaya Bank, Dena Bank & Bank of Baroda

AIBOC Launches Agitation Programs against Forced Merger  Of Vijaya Bank, Dena Bank & Bank of Baroda

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Banking News dated 3rd October 2018

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Banking News: October 3, 2018


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Rupee hits new low of 73.34,  plunges 43 paise against USD


Rupee hits new low of 73.34,
plunges 43 paise against USD

The Financial Express
Published on October 3, 2018


The domestic currency dropped 43 paise to
 73.34 against the US dollar in the early trade

Mumbai, October 3: The Indian rupee Wednesday crashed below the 73 mark against the dollar for the first time ever on strong demand for the American currency from importers amid rising global oil prices and unabated capital outflows.

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Banking News dated 1st October 2018

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Banking News: October 1, 2018


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SBI halves daily Cash Withdrawal  Limit in ATMs to Rs 20,000


SBI halves daily Cash Withdrawal
Limit in ATMs to Rs 20,000

Sugata Ghosh
The Economic Times
Published on October 1, 2018


Mumbai, September 30: The country’s largest lender, State Bank of India, has lowered the ATM cash withdrawal limit to Rs 20,000 a day, from Rs 40,000. The lower limit will be effective from October 31.

“In view of the increase in the number of complaints received by banks around fraudulent transactions at ATMs and to encourage digital and cashless transactions, it has been decided to decrease the cash withdrawal limits of debit cards issued or being issued on ‘Classic’ and ‘Maestro’ platforms,” said a bank communiqué to offices.

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Banking News dated 29th September 2018

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Banking News: September 29, 2018


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Cross Selling: Insurance & Mutual Fund  Text of Joint Note dated September 25, 2018


Cross Selling: Insurance & Mutual Fund
Text of Joint Note dated September 25, 2018

All India Bank Officers’ Confederation (AIBOC)
All India Bank Officers’ Association (AIBOA)
Indian National Bank Officers’ Congress (INBOC)
National Organisation of Bank Officers (NOBO)


We reproduce hereunder the joint note dated 25th September, 2018 submitted by the Four Officers’ organisations to the Secretary, DFS, Govt. of India, on the captioned subject for your information.

Date: 25.09.2018
The Secretary                                                                   
Department of Financial Services
Ministry of Finance, Government of India
New Delhi

Dear Sir,

Public Sector Bank’s Engagement in Cross Selling
of Insurance / Mutual Fund Business

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Banking News dated 27th September 2018

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Banking News: September 27, 2018


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Banks look at voluntary way  to get Aadhaar data

Banks look at voluntary way
to get Aadhaar data

The Telegraph
Published on September 27, 2018


Non-mandatory provision may
allow banks to exploit lacuna

Mumbai, September 26: Banks appear to be unfazed by the Supreme Court verdict that bars them from insisting on the submission of the Aadhaar number while opening new accounts. They already seem to have worked out a way to get round the legal roadblock.

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Banking News dated 25th September 2018

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Banking News: September 25, 2018


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Cross-Selling by Banks:  Commission on cross-selling of Insurance  Business should not be paid to Employees


Cross-Selling by Banks:
Commission on cross-selling of Insurance
Business should not be paid to Employees

Vinson Kurian
The Business Line
Published on September 25, 2018


Thiruvananthapuram, September 24: The Department of Financial Services, Ministry of Finance, has advised the heads of banks that the commission on cross-selling business should be paid to the bank, and not the employees.

Such commission should be treated as an income for the bank, a circular from the Department and addressed to the Chairman, State Bank of India, and MD & CEOs all public sector banks, has said.

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Banking News dated 24th September 2018

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Banking News: September 24, 2018


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Banking reforms: Why BOB, Dena Bank and  Vijaya Bank merger will have a little effect


Banking reforms: Why BOB, Dena Bank and
Vijaya Bank merger will have a little effect

Madan Sabnavis
The Financial Express
Published on September 24, 2018


When the policy is to retain the headcount, accommodating
them in a smaller set of branches will not be possible.

The merger of BOB with Vijaya Bank and Dena Bank is quite singular for different reasons. Firstly, for the first time, we will be witnessing a merger of three PSBs (which is different from the one involving SBI and its associates) which can be a precursor to other such moves. Secondly, the three banks involved consist of two strong (one big and one small) and one PCA bank. Thirdly, the motivation for such a move, though ideological in scope, is an attempt to resuscitate a relatively weaker bank with two healthier ones. Fourthly, while two banks criss-cross one another in geographical space, the third becomes strategically significant being based in the south. Fifthly, the merger comes at a time when all PSBs are walking the thin edge negative profits. Thus, this move hints at a modicum of desperation. And, above all, there is no talk of synergies, which is normally the term used when mergers are spoken of.

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All Bipartite Settlements for Banks PDFs from 1st to 10th Downloadable

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All Bipartite Settlements for Banks PDFs from 1st to 10th Downloadable


Dear Friends,

For your knowledge purpose we are here providing our banks Bipartite Settlments from 1st Bipartite Settlement to Recent 10th Bipartite Settlement. So Please download.



For 1st Bipartite Settlement Click here


For 2nd Bipartite Settlement Click here


For 3rd Bipartite Settlement Click here


For 4th Bipartite Settlement Click here


For 5th Bipartite Settlement Click here


For 6th Bipartite Settlement Click here


For 7th Bipartite Settlement Click here


For 8th Bipartite Settlement Click here


For 9th Bipartite Settlement Click here


For 10th Bipartite Settlement Click here


For 11th Bipartite Settlement Updated Soon


Thank you.....!!!!
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SBI Junior Associate (CS&S) Main Exam Results Declared

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SBI Junior Associate (CS&S) Main Exam Results Declared

Dear Friends,

SBI Junior Associate (CS&S) Main Exam Results Declared
For details click here
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Banking News dated 19th September 2018

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Banking News: September 19, 2018


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Bank Merger Triggers Fear of Job Loss,  Many Customers Mull Shifting Accounts


Bank Merger Triggers Fear of Job Loss,
Many Customers Mull Shifting Accounts

Rounak Kumar Gunjan
The News18 Online
Published on September 19, 2018


The Centre’s decision to amalgamate Vijaya Bank, Dena Bank and Bank of Baroda in order to consolidate stressed financial assets has left most, if not all, junior employees of the three banks worried.

Mumbai, September 19: Hours after Finance Minister Arun Jaitley announced the merger of three state-owned banks on Monday, Dena Bank employee Vinay Prakash started receiving phone calls from his juniors. Every query stemmed from an innate fear of job loss.

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21-09-2018 will be Declared as Holiday for AP & Telangana due to Moharram Festival

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Dear Friends, 

Deputy Secretary of State govt sent message To AGM, RBI, HYD to give necessary instructions to banks to declare as Holiday on 21-09-18 for AP & Telangana due to Moharram Festival (as requested from UFBU)

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SBI Hints About Results of "Recruitement of Junior Associate" will be released on 22nd September 2018

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Dear Friends,

SBI hinted about the results and Final selected candiates results will be on 22-09-2018 and 1st week of December 2018 respectively.


SBI Hints About Results of "Recruitement of Junior Associate as 22nd September 2018"

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AIBOC Condemns the Move to MERGE of VIJAYA BANK, DENA BANK & BANK OF BARODA

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Dear Friends,

As Governement of India Announces Merger of Bank of Baroda, Dena Bank, Vijaya Bank AIBOC (All India Bank Officers Confederation) Condemns it and released a press note accordingly..

Please follow below circular for more details......!!!!!!

AIBOC Condemns the Move to MERGE of VIJAYA BANK, DENA BANK & BANK OF BARODA

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