According to reports, the RBI has granted formal approval based on fit and proper criteria for the sale of 30.5% of the Government of India's shares and 30.2% of shares owned by the government-owned Life Insurance Corporation (LIC) in IDBI Bank.
General Council of AIBOC concluded in Guwahati with the reelection of P M Balachandra as President and Rupam Roy as General Secretary. The council passed significant resolutions aimed at fortifying the public sector banking in India.
A complaint reveals an unprecedented method of fraud involving a nexus operating from three banks through inter-bank transfers misusing Miscellaneous Accounts such as Sundry and Suspense accounts. Three relatives working in Union Bank, Canara Bank and Punjab National Bank respectively have flouted banking practices to evade Income Tax. However, the alleged Union Bank officer has denied all the allegations speaking to Kanal.
Union Bank of India faces increasing fraud incidents, primarily due to staff shortages and heavy workloads. The All India Union Bank Employees Association (AIUBEA) has urged immediate recruitment to fill vacant positions.
A disturbing incident occurred at the State Bank of India’s Wadwani Branch in Beed, Maharashtra, where a customer assaulted the branch manager. The latest attack, captured on CCTV, has raised serious concerns about the safety of bankers.
Bank of Baroda ready to divest its entire 98% stake in Nainital Bank, with Premji Invest in advanced talks to acquire majority stake. Employees demand merger with parent bank BOB instead of privatisation.
Five days after the black badge protest, Bank of Baroda officers' concerns over the inter-zone transfer policy remain unresolved. AIBOBOA warns of intensified agitation if management fails to address the grievances from over 4000 officers.
