public sector banks
10:28
Showing posts with label public sector banks. Show all posts
Showing posts with label public sector banks. Show all posts
Sunday, 12 December 2021
Sunday, 12 September 2021
Wednesday, 21 July 2021
Thursday, 8 July 2021
Wednesday, 31 March 2021
Wednesday, 10 March 2021
UFBU
07:10
UFBU Agitation/strike programme
UFBU Agitation/strike programme
UFBU Agitation/strike programme:
Demanding: Strengthening of Public Sector Banks
Opposing: Proposed privatisation of Public Sector Banks and Retrograde Banking Sector Reforms
Saturday, 6 February 2021
trade unions
08:02
Union Budget 2021 AIBOC-AIBOA-INBOC-NOBO Opposes Budgetary Proposals on Privatisation of Public Sector Banks
Union Budget 2021
AIBOC-AIBOA-INBOC-NOBO Opposes Budgetary Proposals on Privatisation of Public Sector Banks
Download Original Document
Sunday, 6 December 2020
Wednesday, 14 October 2020
Friday, 18 September 2020
public sector banks
21:49
Joint Circular Issued By Central Trade Unions For Observance of Protest Day on 23.09.2020
Joint Circular Issued By Central Trade Unions For Observance of Protest Day on 23.09.2020
Thursday, 10 September 2020
public sector banks
08:34
To Felicitate Best Performing Banks on EASE Banking Reforms Index -Award Ceremony on 09.09.2020
To Felicitate Best Performing Banks on EASE Banking Reforms Index -Award Ceremony on 09.09.2020
Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman today inaugurated Doorstep Banking Services by PSBs and participated in the awards ceremony to felicitate best performing banks on EASE Banking Reforms Index.
Secretary, Department of Financial Services Shri Debasish Panda and Chairman IBA, Shri Rajnish Kumar,were also present at the virtual event.
Doorstep Banking Services by PSBs
As part of the EASE Reforms, Doorstep Banking Services is envisaged to provide convenience of banking services to the customers at their door step through the universal touch points of Call Centre, Web Portal or Mobile App. Customers can also track their service request through these channels.
The services shall be rendered by the Doorstep Banking Agents deployed by the selected Service Providers at 100 centres across the country.
At present only non-financial services viz. Pick up of negotiable instruments (cheque / demand draft / pay order, etc.), Pick up new cheque book requisition slip, Pick up of 15G / 15H forms, Pick up of IT / GST challan, Issue request for standing instructions, Request for account statement, Delivery of non-personalised cheque book, demand draft, pay order, Delivery of term deposit receipt, acknowledgement, etc., Delivery of TDS / Form 16 certificate issuance, Delivery of pre-paid instrument / gift card are available to customers. Financial services shall be made available from October 2020.
The services can be availed by customers of Public Sector Banks at nominal charges. The services shall benefit all customers, particularly Senior Citizens and Divyangs who would find it at ease to avail these services.
Performance of PSB on EASE 2.0 Index
A common reform agenda for PSBs, EASE Agenda is aimed at institutionalizing clean and smart banking. It was launched in January 2018, and the subsequent edition of the program ― EASE 2.0 built on the foundation laid in EASE 1.0 and furthered the progress on reforms. Reform Action Points in EASE 2.0 aimed at making the reforms journey irreversible, strengthening processes and systems, and driving outcomes.
PSBs have shown a healthy trajectory in their performance over fourquarters since the launch of EASE 2.0 Reforms Agenda. The overall score of PSBs increased by 37% between March-2019 and March-2020, with the average EASE index score improving from 49.2 to 67.4 out of 100. Significant progress is seen across six themes of the Reforms Agenda, with the highest improvement seen in the themes of‘Responsible Banking’, ‘Governance and HR’, ‘PSBs as Udyamimitra for MSMEs’, and ‘Credit off-take’.
Friday, 5 June 2020
Friday, 14 February 2020
public sector banks
09:31
AIBOC gives clarion call of Massive Agitation Programme on Merger/Amalgamation of PSBs
AIBOC gives clarion call of Massive Agitation Programme on Merger/Amalgamation of PSBs
Wednesday, 11 December 2019
Wednesday, 16 October 2019
public sector banks
19:31
Straight Through Process For Reimbursement of Expenditures
Straight Through Process For Reimbursement of Expenditures
Reimbursement of 4-in1, Entertainment, Telephone in HRMS
Introduction of Straight Through Process
Source:AISBOF
Saturday, 20 July 2019
Friday, 12 July 2019
public sector banks
07:55
Bank Reforms to Check Frauds
Bank Reforms to Check Frauds
Ministry of Finance
Bank Reforms to Check Frauds
Posted On: 09 JUL 2019 8:21PM by PIB Delhi
Occurrence of frauds was
enabled by laxity in the financial system, and the underlying causes have been
systematically dealt with by the Government through comprehensive steps for reduction in occurrence of frauds, and
their proactive checking and timely detection. The steps taken in this regard
include, inter-alia,the following:
- Government
has issued “Framework for timely detection, reporting, investigation etc. relating
to large value bank frauds” to Public Sector Banks (PSBs), for systemic
and comprehensive checking of legacy stock of their non-performing assets
(NPAs), which provides, inter-alia, that—
- all
accounts exceeding Rs. 50 crore, if classified as NPAs, be examined by
banks from the angle of possible fraud, and a report placed before the
bank’s Committee for Review of NPAs on the findings of this investigation;
- examination
be initiated for wilful default immediately upon reporting fraud to RBI;
and
- report
on the borrower be sought from the Central Economic Intelligence Bureau in
case an account turns NPA.
- Fugitive
Economic Offenders Act, 2018 has been enacted to deter economic offenders
from evading the process of Indian law by remaining outside the
jurisdiction of Indian courts. The act provides for attachment of property
of a fugitive economic offender, confiscation of such offender’s property
and disentitlement of the offender from defending any civil claim.
- PSBs
have been advised to obtain certified copy of the passport of the
promoters/directors and other authorised signatories of companies availing
loan facilities of more than Rs. 50 crore and, decide on publishing
photographs of wilful defaulters, in terms of Reserve Bank of India
(RBI)’s instructions and as per their Board-approved policy and to
strictly ensure rotational transfer of officials/employees. The heads of
PSBs have also been empowered to issue requests for issue of Look Out
Circulars.
- For
enforcement of auditing standards and ensuring the quality of audits,
Government has established the National Financial Reporting Authority as
an independent regulator.
- Instructions/advisories
have been issued by Government to PSBs to decide on publishing photographs
of wilful defaulters, in terms of RBI’s instructions and as per their
Board-approved policy, and to obtain certified copy of the passport of the
promoters/directors and other authorised signatories of companies availing
loan facilities of more than Rs. 50 crore.
- In
order to bring transparency and accountability in the larger financial
system, bank accounts of 3.38 lakh inoperative companies were frozen over
the last two financial years.
The impact of the above
steps is reflected in RBI’s Financial Stability Report (FSR) of June 2019. As
per FSR, systemic
and comprehensive checking of legacy stock of NPAs of PSBs for frauds has
helped unearth frauds perpetrated over a number of years, which is getting
reflected in increased number of reported incidents of frauds in recent years
compared to previous years. The details of frauds of Rs. 1 lakh and above that
occurred during the last three financial years (FYs), reported by PSBs to RBI,
as per inputs received from RBI, are as under:
|
FY
of occurrence
|
Number
of cases
|
Amount
involved
(in
crore Rs.)
|
|
2016-17
|
1,745
|
24,291
|
|
2017-18
|
1,545
|
6,916
|
|
2018-19
|
739
|
5,149
|
Bank-wise details are at
Annex.
Note: Figures cited above
for PSBs include those for IDBI Bank Limited, which was recategorised as a
private sector bank by RBI with effect from 21.1.2019.
This was stated by Shri
Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs in a
written reply to a question in Lok Sabha today.
Source:PIBNEWS
Saturday, 6 July 2019
public sector banks
08:00
Highlights of Union Budget 2019-2020 -Banking and Financial Sector
Highlights of Union Budget 2019-2020 -Banking and Financial Sector
Banking and Financial Sector
NPAs of commercial banks reduced by over Rs. 1 lakh crore over the last year.
Record recovery of over Rs. 4 lakh crore effected over the last four years.
Provision coverage ratio at its highest in seven years.
Domestic credit growth increased to 13.8%.
Measures related to PSBs:
Rs. 70,000 crore proposed to be provided to PSBs to boost credit.
PSBs to leverage technology, offering online personal loans and doorstep banking, and enabling customers of one PSBs to access services across all PSBs.
Steps to be initiated to empower accountholders to have control over deposit of cash by others in their accounts.
Reforms to be undertaken to strengthen governance in PSBs.
Measures related to NBFCs:
Proposals for strengthening the regulatory authority of RBI over NBFCs to be placed in the Finance Bill.
Requirement of creating a Debenture Redemption Reserve will be done away with to allow NBFCs to raise funds in public issues.
Steps to allow all NBFCs to directly participate on the TReDS platform.
Return of regulatory authority from NHB to RBI proposed, over the housing finance sector.
Rs. 100 lakh crore investment in infrastructure intended over the next five years. Committee proposed to recommend the structure and required flow of funds through development finance institutions.
Steps to be taken to separate the NPS Trust from PFRDA.
Reduction in Net Owned Fund requirement from Rs. 5,000 crore to Rs. 1,000 crore proposed:
To facilitate on-shoring of international insurance transactions.
To enable opening of branches by foreign reinsurers in the International Financial Services Centre.
Measures related to CPSEs:
Target of Rs. 1, 05,000 crore of disinvestment receipts set for the FY 2019-20.
Government to reinitiate the process of strategic disinvestment of Air India, and to offer more CPSEs for strategic participation by the private sector.
Government to undertake strategic sale of PSUs and continue to consolidate PSUs in the non-financial space.
Government to consider going to an appropriate level below 51% in PSUs where the government control is still to be retained, on case to case basis.
Present policy of retaining 51% Government stake to be modified to retaining 51% stake inclusive of the stake of Government controlled institutions.
Retail participation in CPSEs to be encouraged.
To provide additional investment space:
Government to realign its holding in CPSEs
Banks to permit greater availability of its shares and to improve depth of its market.
Government to offer an investment option in ETFs on the lines of Equity Linked Savings Scheme (ELSS).
Government to meet public shareholding norms of 25% for all listed PSUs and raise the foreign shareholding limits to maximum permissible sector limits for all PSU companies which are part of Emerging Market Index.
Government to raise a part of its gross borrowing program in external markets in external currencies. This will also have beneficial impact on demand situation for the government securities in domestic market.
New series of coins of One Rupee, Two Rupees, Five Rupees, Ten Rupees and Twenty Rupees, easily identifiable to the visually impaired to be made available for public use shortly.
Digital Payments
TDS of 2% on cash withdrawal exceeding Rs. 1 crore in a year from a bank account
Business establishments with annual turnover more than Rs. 50 crore shall offer low cost digital modes of payment to their customers and no charges or Merchant Discount Rate shall be imposed on customers as well as merchants.
Source:PIBNEWS
Friday, 5 April 2019
recruitment
19:02
No objection to promotion/ recruitment/transfer by PSBs during MCC subject to no official involved in election is dislocated-EC
No objection to promotion/ recruitment/transfer by PSBs during MCC subject to no official involved in election is dislocated-EC
EC:-No objection to promotion/ recruitment/transfer by PSBs during MCC subject to no official involved in election is dislocated
The Election Commission of India has considered the request of DFS in the matter of submissions made by some Publis Sector Banks/Fnancial Institutions regarding conducting promotion/recruitment/transfer during the Model Code of Conduct and vide their Letter No. 437/6/CG/ECILET/FUNCT/MCC/2019 dated 27.03.2019 conveyed that the Commission has no objection to the proposal of DFS subject to the condition that no official involved in election work is relieved/dislocated till the poll process is over.
Source:AIPNBSF
