Latest news is as follows;
More than 2000 officers from various banks participated in the rally. The rally was addressed by Sh. Harvinder Singh, General Secretary AIBOC. The highlight of the rally was the participation of youngsters in large numbers. The rally was organized by AIBOC as a warm rally for longer struggle ahead. Similar rallies were held at all state Capitals throughout the country.
UFBU in a meeting held at Bangalore decided to intensify the agitation by organizing rallies/ demonstration on 30th Oct. in all state capitals and other centers. One day Strike on 12th Nov.2014 followed by relay strikes on 2nd Dec. in Southern Region, 3rd Dec. in Northern Region, 4th Dec. in Eastern and Northeastern Region and 5th Dec. in Western Region followed by more strike actions including indefinite strike.
All the employees in banking sector should remain in preparedness for longer battle till our demands are met. Please also do not believe the rumors floated by some vested interests on social media. Our Unity has won us war in the past and our Unity will win us the ongoing struggle for wage revision this time too. Unity is our strength…!!
Bank staff may come under govt pay panel-Hindustan Times-13.10.2014
Even after several rounds of talks between bank employee unions and the Indian Banks Association (IBA), there seems to be no consensus on the quantum of salary hike for over 800,000 employees at different public sector lenders.
While the IBA has indicated that the maximum hike that can be offered to employees is about 11%, unions are demanding a 25% raise
With the stalemate still continuing, sources said a proposal could also be considered to bring them under the purview of the Seventh Pay Commission, which has already been constituted. A large section of bank employees are, however, unwilling to do the same.
“There needs to be an end to the stalemate and this is an option that has also come up,” an official source who refused to be identified said.
IBA chairman, TM Bhasin, however, told HT that there was no proposal to bring bank employees under the purview of the pay commission. “IBA has no such consideration and no proposal has come to the IBA,” he said.
“There have been some reports of bringing the bank employees under the purview of the pay commission but we are completely opposed to such a move,” said CH Venkatachalam, general secretary, All India Bank Employees Association.
The salary revision of bank employees is due since November 2012.
Unions meanwhile have threatened to go on a strike on November 12. There could even be an indefinite strike thereafter if the issue is not addressed, union representatives said.
A senior bank executive said the issue of wage settlement would have to be sorted at the earliest and the finance ministry could intervene to ensure that the deadlock comes to an end.
“At a time, when the Pradhan Mantri Jan Dhan Yojana is underway and targets have to be met, there is little scope to lose time,” he said.
Lin of Hindustan Times for Above News
RBI has asked banks to confirm latest by Friday that the instruction has been communicated to all their branches and the same have been meticulously complied with.
Link Business Standard
RBI raises concern over high loan exposure to infra, realty-Indian Express
The Reserve Bank of India (RBI) on Wednesday expressed its concerns over increasing loan exposure to the real estate, housing and infrastructure sectors. “We are very much concerned about further exposure by banks into this segment,” RBI Deputy Governor R Gandhi said.
The real estate and housing sector now accounts for 13-14 per cent of the banks’ exposure. When infrastructure loans are included, the total exposure rises to 25 per cent of total loans, he said at an event organised by industry body Ficci here.
He said that exposure to the real estate sector has gone up from Rs 60,000 crore in 2007-08 to Rs 1,54,000 crore now and housing exposure from Rs 2,60,000 crore to Rs 5,40,000 crore. Infrastructure exposure has more than doubled to Rs 8,40,000 crore.
Some of the infra loans extended by banks in the last couple of years have already become stressed assets. “Banks cannot put all eggs into one basket. When they have already reached 25 per cent, naturally they will have hesitation to increase it further. One cannot overexpose to one segment or sector,” he said. Gandhi said the RBI was concerned about further exposure beyond these levels. “We have to take care of banking sector health, and, at the same time, we will have to support infrastructure growth. Natural growth will happen, but increasing the proportion beyond this may be a tall order,” Gandhi said. Gandhi said the central bank has to balance the credit requirements of all the segments of the economy. Some sectors may get priority depending on the situation, he said. -
See more at: http://indianexpress.com/article/business/business-others/rbi-raises-concern-over-high-loan-exposure-to-infra-realty/#sthash.8i5Pa2W5.dpuf
Bank staff may come under govt pay panel-Hindustan Times-13.10.2014
Even after several rounds of talks between bank employee unions and the Indian Banks Association (IBA), there seems to be no consensus on the quantum of salary hike for over 800,000 employees at different public sector lenders.
While the IBA has indicated that the maximum hike that can be offered to employees is about 11%, unions are demanding a 25% raise
With the stalemate still continuing, sources said a proposal could also be considered to bring them under the purview of the Seventh Pay Commission, which has already been constituted. A large section of bank employees are, however, unwilling to do the same.
“There needs to be an end to the stalemate and this is an option that has also come up,” an official source who refused to be identified said.
IBA chairman, TM Bhasin, however, told HT that there was no proposal to bring bank employees under the purview of the pay commission. “IBA has no such consideration and no proposal has come to the IBA,” he said.
“There have been some reports of bringing the bank employees under the purview of the pay commission but we are completely opposed to such a move,” said CH Venkatachalam, general secretary, All India Bank Employees Association.
The salary revision of bank employees is due since November 2012.
Unions meanwhile have threatened to go on a strike on November 12. There could even be an indefinite strike thereafter if the issue is not addressed, union representatives said.
A senior bank executive said the issue of wage settlement would have to be sorted at the earliest and the finance ministry could intervene to ensure that the deadlock comes to an end.
“At a time, when the Pradhan Mantri Jan Dhan Yojana is underway and targets have to be met, there is little scope to lose time,” he said.
Lin of Hindustan Times for Above News
RBI asks banks to comply with address proof norms-Business Standard-14.10.2014
In June 2014, RBI had said that customers will need to submit only one documentary proof of address
The Reserve Bank of India (RBI) on Monday said banks should ensure that customers are not unnecessarily asked to submit additional proofs of addresses for current addresses, in cases where proofs of addresses for permanent addresses are already available.
In June 2014, RBI had said customers will need to submit only one documentary proof of address (either permanent or current), while opening a bank account or while undergoing periodic updation. Earlier, customers also had to submit a local address proof to the bank.
Despite this instruction, RBI said some banks are still insisting on submission of a proof of address for the current address even when a customer produces a proof of permanent address. This, said RBI, prevents many prospective customers, especially migrant workers, from opening bank accounts.
In June 2014, RBI had said customers will need to submit only one documentary proof of address (either permanent or current), while opening a bank account or while undergoing periodic updation. Earlier, customers also had to submit a local address proof to the bank.
Despite this instruction, RBI said some banks are still insisting on submission of a proof of address for the current address even when a customer produces a proof of permanent address. This, said RBI, prevents many prospective customers, especially migrant workers, from opening bank accounts.
| Too many knocks on the door? |
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RBI raises concern over high loan exposure to infra, realty-Indian Express
The Reserve Bank of India (RBI) on Wednesday expressed its concerns over increasing loan exposure to the real estate, housing and infrastructure sectors. “We are very much concerned about further exposure by banks into this segment,” RBI Deputy Governor R Gandhi said.
The real estate and housing sector now accounts for 13-14 per cent of the banks’ exposure. When infrastructure loans are included, the total exposure rises to 25 per cent of total loans, he said at an event organised by industry body Ficci here.
He said that exposure to the real estate sector has gone up from Rs 60,000 crore in 2007-08 to Rs 1,54,000 crore now and housing exposure from Rs 2,60,000 crore to Rs 5,40,000 crore. Infrastructure exposure has more than doubled to Rs 8,40,000 crore.
Some of the infra loans extended by banks in the last couple of years have already become stressed assets. “Banks cannot put all eggs into one basket. When they have already reached 25 per cent, naturally they will have hesitation to increase it further. One cannot overexpose to one segment or sector,” he said. Gandhi said the RBI was concerned about further exposure beyond these levels. “We have to take care of banking sector health, and, at the same time, we will have to support infrastructure growth. Natural growth will happen, but increasing the proportion beyond this may be a tall order,” Gandhi said. Gandhi said the central bank has to balance the credit requirements of all the segments of the economy. Some sectors may get priority depending on the situation, he said. -
See more at: http://indianexpress.com/article/business/business-others/rbi-raises-concern-over-high-loan-exposure-to-infra-realty/#sthash.8i5Pa2W5.dpuf
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