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DA increased for Bank Employees from Aug 2020

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Good News For PSU Bankers: Salary Hike Expected, Five-Day Work Week by June 2024, Check Details

Bank workers may have some good news in 2024 as they are expected to receive a pay increase and a 5-day work week. The bank staff will receive five working days by June and possibly a pay increase as well, if the Ministry of Finance gives its approval. The group that represents bank employee unions, the United Forum of Bank Unions, has recommended a five-day work week for the banking industry in a letter to Union Finance Minister Nirmala Sitharaman. There would be no decrease in the number of hours that clients can bank or in the overall number of working hours that officers and personnel work, according to the banks' recommendation to the finance minister. The finance minister has reportedly been urged by the United Forum of Bank Unions to take a positive view of the situation and instruct the Indian Banks' Association appropriately. The organization further emphasized that RBI and LIC have already adopted the five-day workweek. Also read - Charter of Demands for 12th Biparti

Latest Bipartite Settlement Updates - 9th Joint Note on Wage Revision signed

Its great news for Bankers and pleased to announce the successful conclusion of negotiations between the Indian Banks Association ’ and the All India Bank Officers’ Confederation culminating into signing of the 9th Joint Note on 8th March, 2024. The new wage settlement entails several benefits aimed at enhancing the overall compensation package for our officers. We believe these provisions not only acknowledge the hard work and dedication of our officers but also serve as a means to attract and retain top talent within the banking industry. The salient features of the wage negotiations i.e. the 9th Joint Note are as under: 1. Paving the way for 5-day work week – The Joint Note recognizes all Saturdays as holidays, pending government notification. The revised working hours will be effective after notification by the government. 2. Substantial Increase in Salary - The total quantum of wage revision increase (Payslip component) is more than Rs. 8284 crores being the 17% of the c

RBI gave approval to merge these 2 banks, Will be effective from April

Fincare Small Finance Bank Merger With AU Small Finance Bank: The merger between AU Small Finance Bank and Fincare Small Finance Bank has been approved. The merger of both the banks will be effective from April 1. There is going to be another bank merger in the nation. The Reserve Bank of India announced on April 1, 2024, that it has approved the merger of two further banks. This time, AU Small Finance Bank Ltd. and Fincare Small Finance Bank Ltd. will merge. As of April 1, these two banks will merge into one. With effect from April 1, 2024, all branches of Fincare Small Finance Bank Limited will operate as branches of AU Small Finance Bank Limited. The Competition Commission of India (CCI) gave its approval to the merger of Fincare Small Finance Bank and AU Small Finance Bank on January 23. Which services is AU Small Finance Bank offering? Customers of AU Small Finance Bank can use both personal and business banking services. This covers digital banking services as well as deposi

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