Amendments to Reserve Bank of India (Note Refund) Rules, 2009
The Central Government has made amendments to the Reserve Bank of India (Note Refund) Rules, 2009. The amended rules called “the Reserve Bank of India (Note Refund) Amendment Rules, 2018” are effective from Gazette notification date September 6, 2018. The amendment to rules would help the public to exchange mutilated notes in Mahatma Gandhi (New)…
Read article
Several banks are fronting penalties for missing daily ‘Aadhaar’ enrollment targets
In terms of UIDAI notification dated On June 1,2018 all the bank branches with Aadhaar facility will have to ensure at least eight enrolments or updations daily in each branch from July 1 and 12 per day per branch from October 1, and up to 16 from January 1, 2019 onwards. However, the deadline for…
Read article Present banking sector crisis should not become an alibi for privatization of public sector banks: Parliamentary Standing Committee
The Parliamentary Standing Committee on Finance in its report dated September 5, 2018 on banking sector, made various suggestions to the RBI to resurrect the bleeding public sector banks, which include relaxation in capital adequacy rules to free up excess capital, easing of the Prompt Corrective Action (PCA) framework, separate treatment of NPAs due to…
Read article
Banks wage settlement news: Officers’ Unions submit Supporting Notes
Text of Joint Note Talks held on 03.09.2018 ALL INDIA BANK OFFICERS’ CONFEDERATION (AIBOC), ALL INDIA BANK OFFICERS’ ASSOCIATION (AIBOA) INDIAN NATIONAL BANK OFFICERS’ CONGRESS (INBOC),NATIONAL ORGANISATION OF BANK OFFICERS (NOBO) Camp: Mumbai Date: 3rd September, 2018 To All Affiliates (For Circulation) Dear Comrade, Wage Negotiation – XIth Bipartite Settlement As was decided in the…
Read article
Overdraft facility under PMJDY scheme now doubled
Mr. Arun Jaitley Finance Minister of India announced today (September 5, 2018) that the Government of India decided to make Pradhan Mantri Jan Dhan Yojana ( PMJDY) an open-ended scheme, meaning that the scheme will continue indefinitely. The minister said that in view of the above scheme has been “runway success” the Government made it…
Role of Presenting Officer in respect of Charge sheet/ inquiries
Broadly speaking, in departmental (domestic) inquiries, the Presenting Officer has a duty to perform fact-finding exercises to reach the truth in respect of elements of misconduct, committed by the Charged Official. Though, the departmental enquiry in industrial law is not equated with the proceedings before the courts of law, it has essential condition to the…
Read article