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BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Wednesday, October 14, 2026

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.

Monday, October 12, 2026

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.

Wednesday, October 7, 2026

Absence from Duty can’t be treated as Unauthorised Absence

The Patna High Court has ruled that mere absence from duty cannot by itself be treated as wilful or unauthorised absence, particularly when an employee provides medical records to support the absence.

This is a very important judgement related to bank employees. The case is related to a bank employee.

A Single Judge Bench of Justice Harish Kumar was hearing a petition filed by a State Bank of India (SBI) officer challenging notices through which the bank had treated him as having voluntarily vacated his service after he failed to report for duty.

The petitioner had joined SBI in 1989 and had completed more than 30 years of service. He was transferred from the Digha Branch in Patna to the Muzaffarpur Zone in June 2019 and was later placed at the disposal of the Regional Business Office in Bettiah.

The employee said that he was suffering from acute jaundice and had been advised complete rest for at least 45 days. His application for sick leave from July 1 to July 31, 2019 was approved through the bank’s HRMS portal.

He later developed severe pain in his legs and consulted an orthopaedic surgeon. The doctor advised him to take further rest until December 2019.

The bank subsequently declined the leave and treated his absence from June 29, 2019 onwards as unauthorised. It issued a notice under Rule 40(3) of the SBI Officers’ Service Rules, 1992, directing him to report for duty within 30 days. The notice stated that failure to report would result in him being deemed to have voluntarily vacated his office.

A second notice dated December 13, 2019 declared that the employee had voluntarily vacated his service with effect from December 7, 2019.

The High Court examined Rule 40 of the SBI Officers’ Service Rules. It noted that Rule 40(2) deals with an officer overstaying leave and allows the bank to take appropriate action. Rule 40(3), subject to certain conditions, allows prolonged absence to be treated as voluntary vacation of service.

However, the court said that the severe consequence under Rule 40(3) could not be imposed without first determining whether the employee’s absence was actually unauthorised or amounted to overstaying leave.

The court made a distinction between simple absence from duty and wilful or unauthorised absence. It observed that merely because an employee was not physically present at the place of posting, it could not automatically be concluded that the absence was deliberate or without justification.

The court said that when an employee claims to be absent because of medical reasons, the competent authority must consider the reasons given by the employee and examine the medical documents submitted in support of the claim.

The High Court noted that the petitioner had submitted medical prescriptions and reports. The bank had not specifically disputed or established that these medical documents were not genuine.

The court also observed that even if the initial leave approval had been granted by an authority that was not competent to sanction it, the bank should have forwarded the leave application to the competent authority for consideration. It could not simply treat the entire period of absence as unauthorised.

The High Court also referred to the Supreme Court’s judgment in Krushnakant B. Parmar. The court noted that absence caused by compelling circumstances such as illness, an accident or hospitalisation cannot automatically be considered wilful absence or a lack of devotion to duty.

The court held that the bank’s action did not meet the requirements of fairness and reasonableness under Article 14 of the Constitution. It also found a violation of the principles of natural justice because the employee was not given a fair and meaningful opportunity to explain his alleged unauthorised absence before the serious consequence of voluntary vacation of service was imposed.

Tuesday, October 6, 2026

Why it's time for Indian Banks to finally adopt a five day working week

🔥 ৫-দিনের ব্যাংকিং — এখন এটি শুধুমাত্র ইউনিয়নের একটি চাহিদা নয়, এটি একটি যৌক্তিক প্রয়োজনীয়তা! 🏦

ভারতীয় ব্যাংকিং শিল্পের জন্য সোমবার থেকে শুক্রবার পর্যন্ত কাজের সময় নেওয়ার সময় কি এখনও আসেনি?

📌 সাম্প্রতিক বিস্তারিত নিবন্ধে, ৫-দিনের ব্যাংকিং বিষয়ে বেশ কিছু গুরুত্বপূর্ণ তথ্য উপস্থিত রয়েছে:

✅ ১.৮ মিলিয়ন ব্যাংক কর্মীদের সুস্থতা এবং কাজ-জীবন সম্পূর্ণ করা

✅ ২০২৪ সালে একটি পিয়ার-রিভিউয়াড গবেষণায়, ৮২.২% ব্যাংক কর্মীরা মাঝামাঝি-উচ্চ বার্নআউট অভিজ্ঞতা করেছেন।
যারা ৮ ঘন্টা বেশি কাজ করে তারা বার্নআউট এবং চাপের সম্পূর্ণ বেশি ঝুঁকি সহকারে আছে।

✅ আরএবি এবং সেন্ট্রাল সরকারের অফিসগুলি ১৯৮৫ সাল থেকে ৫ দিনের সপ্তাহে কাজ করছে।
স্টক এক্সচেঞ্জ এবং আর্থিক নিয়ন্ত্রকদের সম্প্রদায় জীবন সম্পূর্ণ কাজের সপ্তাহ রয়েছে। এলআইসি একটি ৫-দিনের সপ্তাহে কাজের সপ্তাহ গ্রহণ করেছে।

📱 অন্যদিকে, ডিজিটাল ব্যাংকিং গ্রাহকদের শারীরিক শাখাগুলিতে নির্ভর
যখন আরবিআই করতে পারে ৫ দিন, সরকার ৫ দিন, স্টক এক্সচেঞ্জ ৫ দিন, এলআইসি ৫ দিন...

তাহলে ব্যাংকারদের জন্য কেন ৬ দিন?

"দেশের সবার জন্য ৫ দিন, কিন্তু ব্যাংকারদের জন্য মাত্র ৬ দিন?"

এখন আমাদের শুধু নিশ্চয়তা দরকার নেই।
এখন আমাদের শুধু একটি প্রস্তাব দরকার নেই।
এখন আমাদের শুধু একটি কমিটি দরকার নেই।

🔥 চাইয়ে — বাস্তবায়নের তারিখ!

৫-দিনের ব্যাংকিং — এখনই বাস্তবায়ন করুন! 🏦✊

#5DayBanking #Bankers #BankEmployees #BankingNews #FiveDayBanking #UFBU #AIBEA #BankingIndustry #BankersUnity #BankerNilanjana








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 *strateg...

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