Meeting for 5 days banking

Top 10 Indian Banks with their Loans and Deposits of FY 2025-26.

Top 10 Indian Banks with their Loans and Deposits of FY 2025-26.

#BankingNews #BankingUpdate #SBIBank #HDFC #PNB #ICICIBank

STOP BLAMING UFBU

STOP BLAMING UFBU           

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The Wrestling Bout for updation of pension is over. The referee (Hon'ble SC) will  declare the winner  on the basis of facts and law placed before it. 

What I emphasize is that we need the active support of the negotiating unions even if the judgement would be favourable.  

Even if the SC holds the view that Reg. 35(1) provides for  updation of pension, since no formula for updation of pension is prescribed in Appendix-I, it has to be provided for by way of an amendment, unless the SC gives a clear direction to update our pension as per the formula adopted in RBI.

Supreme court can not amend the statute. Hence there would be a need to negotiate and finalise the formula. 

Because the UFBU  represents the future pensioners, who are now in service, the  formula for updation  will have to be negotiated between IBA and UFBU to make it applicable to the future pensioners.

We would have no other go but to look at UFBU for updation of pension in the worst event of a negative decision by SC. IT  WOULD  REQUIRE A JOINT STRUGGLE BY UFBU AND THE RETIREES' UNIONS TO ACHIEVE PENSION UPDATION.

Therefore while waiting for the judgement let us stop  blaming UFBU leadership. 🙏

Govt. plans to reduce stake in 4 Public Sector Banks. k

IDBI BANK SOLD OUT 64%

IDBI BANK SOLD OUT

What actually happened today — *October 14, 2026*:

The Cabinet Committee on Economic Affairs (CCEA) approved the *strategic restructuring / sale of IDBI Bank to Canada's Fairfax Financial Holdings*:

- *Buyer:* M/s 10955230 Canada Inc, subsidiary of Fairfax Financial Holdings (Prem Watsa group)

- *Stake being sold: 60.72%* for *Rs 52,878 crore at Rs 81/share*

   - Govt of India is selling *30.48%*

   - LIC is selling *30.24%*

- *Govt is NOT selling its entire stake:*

   - Govt will retain *15%*

   - LIC will retain *19%*

   - Together they still hold *34%*

- The govt has called it a "strategic restructuring" rather than a full disinvestment for this reason

- It is being termed the *largest-ever FDI in India's financial sector*, and the biggest disinvestment since Air India. 0057502b

Other conditions:

- Fairfax will have to make an open offer to minority shareholders

- Fairfax will have to reduce its stake from ∼60% to 26% (RBI promoter norm) over 15 years after a lock-in period

- It also has to exit / merge its existing 40% stake in CSB Bank

- The share purchase agreement is expected to be signed by end of FY26, subject to RBI approval

So IDBI will come under Canadian control, but Govt + LIC still remain as significant shareholders with 34% — it's not a 100% foreign-owned bank yet, and the deal is approved, not fully closed.

Govt announces Bonus for Railway Employees, Staff to get 78 days salary as Bonus

The Union Cabinet has approved the Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for eligible Indian Railways employees. This annual festive bonus serves as a token of appreciation ahead of the Durga Puja, Dussehra, and Diwali holidays

The bonus rewards the staff for a stellar performance during the 2025–26 financial year, during which the national transporter loaded a record 1,670 Million Tonnes of cargo and carried nearly 7.41 Billion passengers.

While over 11.4 lakh Group C staff members are covered, the PLB explicitly excludes Railway Protection Force (RPF) and Railway Protection Special Force (RPSF) personnel. RPF/RPSF personnel are instead governed by separate central government ad-hoc bonus rules.

Employees want more Bonus

There has been growing friction between railway employee unions and the current formula. Organizations like the Indian Railways Technical Supervisors’ Association (IRTSA) have formally urged the Ministry of Railways to update the decades-old ceiling. They argue that with a real minimum wage of ₹21,000 for unskilled workers, the calculation cap should be raised to at least ₹18,000 plus Dearness Allowance (DA), which would lift the annual festive bonus closer to ₹46,184.

How bonus is calculated?

The maximum payout is capped at ₹17,951 due to an active legal calculation cap. The calculation uses a predefined monthly wage cap of ₹7,000, which has 

Even if an employee’s actual monthly salary is much higher, the bonus is mathematically calculated as: (₹7,000 ÷ 30.4) × 78 ≈ ₹17,951.

Any eligible employee whose monthly salary is below ₹7,000 will have their bonus calculated using their actual lower monthly pay.

Madras High Court Says Loan Defaulter Cannot Be Stopped From Travelling Abroad Without Fraud

The Madras High Court has held that a person who has defaulted on a loan cannot be forced to remain in India only to ensure repayment of the loan when there is no allegation or evidence of fraud. The court observed that taking a loan does not mean that a citizen gives up his constitutional and legal rights, including the right to travel.

Justice V. Lakshminarayanan made the observations while hearing a review petition filed by Bank of Baroda against an earlier order that had revoked a Look Out Circular (LOC) issued against a loan defaulter.

The case concerned Kondepati Ganga Prasad, who was a promoter director of an entity that had taken a loan from Vijaya Bank. Vijaya Bank was later merged with Bank of Baroda. After the loan remained unpaid, Bank of Baroda initiated proceedings under the Insolvency and Bankruptcy Code (IBC) as a financial creditor.

The National Company Law Tribunal (NCLT) subsequently approved a resolution plan, which was implemented and the debt of the principal borrower was settled. However, the LOC issued against Prasad continued.

Prasad then approached the Madras High Court seeking removal of the LOC. During the proceedings, the Central Government informed the court that the LOC had been opened based on a request made by the bank.

The bank acknowledged that the loan account had been closed following implementation of the resolution plan but wanted the LOC against Prasad to continue. The High Court, however, revoked the LOC.

Bank of Baroda subsequently filed a review petition against the order. The bank argued that although the debt of the principal borrower had been extinguished under the resolution plan, the LOC should continue because Prasad was a guarantor.

The bank also submitted that the resolution professional had advised it to initiate bankruptcy proceedings against Prasad and that the matter was being discussed with other consortium banks.