Next round of bipartite talks with IBA on 15th Nov 2019
In a letter dated November 8, 2019, addressed to Shri. Sanjeev K Bandish convenor UFBU, S.K. Kakkar, Senior advisor of IBA invited the General Secretaries of constituents workmen Unions/Officers’ Associations for wage revision talks on Tuesday 15th November 2019 at 11.00 am in the committee room of IBA, World Trade Centre, Cuffe Parade, Mumbai-400 005.
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RBI mandates banks not to charge for NEFT transactions from January 2020
In order to further Digital Payments in the country, RBI announced today (Nov 08, 2019) that it has mandated the Banks not to charge for NEFT online transactions of SB customers. The new rule is effective from 1st January 2020. The Central Bank statement said that the new order is to “empower every citizen with…
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RRBs are allowed to issue PDI
The Reserve Bank of India vide. Circular No. DOR.RRB.No.21/31.01.001/2019-20 dated November 1, 2019, permitted RRBs (Regional Rural Banks) to issue Perpetual Debt Instruments (PDI) eligible for inclusion as Tier 1 capital so as to maintain prescribed CRAR. The Perpetual Debt Instruments (PDI) is issued by way of bonds or debentures in Indian Rupees only. The…
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Bank accounts of persons of mental illness and mental retardation and multiple disabilities explained
India is a signatory to the United Nations Convention on the Rights of Persons with Disabilities, 2006(UNCRPD) which provides the same human rights to persons with disabilities that everyone else enjoys. Section 5.2 of UNCRPD establishes internal equality between physical and mental disabilities. In view of UNCRPD resolutions, we in India have an international obligation…
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Operation of the bank account by old, sick and incapacitate persons
The United Nations Convention on the Rights of Persons with Disabilities, which clearly commits to the rights of persons with disabilities and their access to services. Article 9 of the Convention enables persons with disabilities to live independently and participate fully in all aspects of life and also gives them access to facilities and services…
Details of Banking service available to blind and low vision customers
Reserve Bank of India (RBI) vide, its circular (DBOD. No. Leg BC.91/09.07.005/2007-08 dated 4th June 2008) mandates that all banking services must be offered to blind and low vision customers without any discrimination. According to the above guidelines, Banks should not equate visually impaired customers with illiterate customers. Banks should ensure that all the banking…
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