Bank Employees

AIBOC demands 5-day work week for bankers to ensure work-life balance

All India Bank Officers' Confederation (AIBOC) on Thursday demanded a long pending implementation of a 5-day work week for bank employees among others. Besides, the bank officers union pressed for recruitment at public sector banks to address staff shortage. The acute shortage of clerical and subordinate staff compels officers to undertake tasks outside their primary duties, AIBOC said in a statement. Recently, it said, bank employees have been subjected to violent attacks, often instigated by politically connected individuals, both within branches and in public spaces. AIBOC in a letter written to the Department of Financial Services said the current environment of physical risk, coercion and internal toxicity has become a serious deterrent. "We look forward to your prompt attention to this matter and an affirmative response that reassures our officers of the Ministry's commitment to their safety and well-being," it said. On the issue of a 5-day work week, the union said, it is

Woman bank employee collapses, dies in Lucknow; co-workers claim stress

A woman employee collapsed and died at a private bank in the Vibhuti Khand area here, police said on Wednesday. The incident occurred on Tuesday. The cause of the woman's death is yet to be ascertained, they said. "Sadaf Fatima (40) worked with a private bank. On Tuesday, she collapsed in the office. Her co-workers rushed her to a nearby government hospital where doctors pronounced her dead," said Station House Office (SHO), Vibhuti Khand, Sunil Kumar Singh. The body was sent for post-mortem examination. "The family members of the deceased have not filed any complaint in the matter. Further action will be taken based on the findings of the post-mortem," Singh said. A relative of Fatima told reporters that she was the sole breadwinner of her family. Samajwadi Party (SP) president Akhilesh Yadav said the news of the woman employee's death was very worrisome as such incidents raise questions about the working conditions in various organisations. "Such news is a symbol of the curren

Bank staff unions to raise old pension restoration issue with IBA

Banks, represented by IBA, and UFBU, representing employees and officers, had signed an MoU for wage revision in Dec 2023 and had agreed to continue discussions on residual matters, including pensions

Accounts opened without permission under APY, 32% dropped out: ICSSR study

Bank employees did so without their concurrence to achieve enrolment targets set for them

Bank employees to get 17% annual wage hike; 5-day work week awaits govt nod

Indian Banks' Association and bank employee unions on Friday agreed on an annual wage hike of 17 per cent, a move that will result in an additional yearly outgo of around Rs 8,284 crore for public sector banks. As many as 8 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2022. All India Bank Officers' Confederation said that a joint note agreed to recognise all Saturdays as holidays, pending government notification. The revised working hours will be effective after notification by the government, it said. "The new pay scales have been constructed, after merging Dearness Allowance corresponding to 8088 points and additional load thereon," it said. Under the new wage settlement, all women employees would be allowed to take one day sick leave per month without giving a medical certificate. Accumulated privilege leave may be encashed up to 255 days at the time of retirement/upon death of an employee while in service, it said. "Today m

Bank Holidays in December 2023: Banks to remain closed for 18 days

A 6-day nationwide strike has been planned by the All-India Bank Employees Association (AIBEA). Here are the bank holidays that the RBI has declared for December 2023

Private bank headcount closes in on public sector bank tally: RBI data

While total employees working with PSBs are falling over the years, the number of those in officer's grade has risen from 386,000 at the end of March, 2020, to 397,000 in March, 2023

Global banks expand maternity benefits to retain women employees in India

India already mandates a minimum 26 weeks of maternity leave at full pay - among the most in the Group of 20 economies, according to the World Bank's Gender Data Portal

Five-day work for bank employees soon, FinMin to issue notification: Report

However, bank employees will be required to work an additional 40 minutes per day from 9:45 am to 5:30 pm

Indian Banks Association considers 5-day work week for bank employees

If the proposal gets IBA's nod, it will be sent to the finance ministry and subsequently to the Reserve Bank of India's (RBI) for approval

Employee strength of banks in pvt space almost equals PSBs': RBI data

The headcount in small finance banks was 14,179 in 2016-17, when they arrived on the scene

Chief labour commissioner to meet bank unions on proposed Nov 10 strike

Banks notices say normal services could get affected but they are taking action to keep work going

Trip that includes a foreign leg is not eligible for LTC, say experts

This condition is not satisfied merely by the trip starting and ending in India

Bank employees' unions call for restoration of old pension scheme

Submit charter of demand for wage revision as part of 12th bipartite settlement

Amid falling staff strength, PSBs may soon start hiring on a monthly basis

From a peak of 886,490 in 2012-13, staff strength in state-owned banks fell to 770,800 in 2020-21

Maharashtra state bank employees union protests govt loan melas

The federation's secretary, said in a statement the Congress government before "distributed hundreds of crores" by organising loan melas and now the present government is on the same lines

ED probing some entities, employees over irregularities, says IndusInd Bank

IndusInd Bank says it has no credit exposure to the entities being investigated

Bank employee from Rajasthan shot dead in Kashmir's Kulgam district

Rajasthan CM Ashok Gehlot condemned the killing of the Rajasthan resident and said the NDA government has failed to restore peace in Kashmir.

Irregularity by bank employees should not be dealt leniently: Supreme Court

Bank employees hold the position of trust where honesty and integrity are essential conditions and any irregularity on their part should not be dealt with leniently, the Supreme Court said on Friday. A bench of Justices Ajay Rastogi and Abhay S Oka made the observation while upholding an order of dismissal against a bank clerk for serious irregularities in discharge of his duties. Merely because the employee stood superannuated in the meanwhile, will not absolve him from the misconduct which he had committed in discharge of his duties and looking into the nature of misconduct which he had committed, he was not entitled for any indulgence. The Bank employee always holds the position of trust where honesty and integrity are the sine qua non but it would never be advisable to deal with such matters leniently, the bench said. The apex court said that looking into seriousness of the nature of allegations levelled against the employee, the punishment of dismissal inflicted upon him in no

Banking services impacted as 900,000 employees go on two-day strike

Staffers take out marches in protest against privatisation of public sector banks; a few customer service centres kept functional