Expected DA Calculation Updated on 28.02.22 on the basis of CPI for the month Jan'22 that announced on 28.02.22 there is decrease of 0.30 points as per revised base year 2016 (base year changed from Oct 2020) with assumptions of CPI for the month of Feb'22 & Mar'22s as under:-
On assumptions if there is an increase of 0.80 of CPI in the next both months (Feb. & Mar.). Keeping in view on going regular rise in prices of commonly required daily needs items / commodities which is making month over month difficult to manage family budget in the present covid crises. Accordingly, on this conservative assumption, we may expect there would be an increase of 10 slabs and the total tentatively revised DA slabs would be 481 i.e. 33.67% from May'22 in terms of 11th BPS.
On assumptions if there is an increase of 0.60 of CPI in the next both months (Feb. & Mar.). On the basis of this assumption, we may expect there would be an increase of 7 slabs and the total tentatively revised DA slabs would be 478 i.e. 33.46% from May'22 in terms of 11th BPS.
On assumptions if there is an increase of 0.40 of CPI in the next both months (Feb. & Mar.). On the basis of this assumption, we may expect there would be an increase of 4 slabs and the total tentatively revised DA slabs would be 475 i.e. 33.25% from May'22 in terms of 11th BPS
On assumptions if there is an increase of 0.20 of CPI in the next both months (Feb. & Mar.). On the basis of this assumption, we may expect there would be an increase of 1 slabs and the total tentatively revised DA slabs would be 472 i.e. 33.04% from May'22 in terms of 11th BPS
On assumptions if there is an increase of 0.00 of CPI in the next both months (Feb. & Mar.). On the basis of this assumption, we may expect there would be an increase of -2 slabs and the total tentatively revised DA slabs would be 470 slab May'22 in terms of 11th BPs
Weak public sector lenders like Central Bank of India and Punjab & Sind Bank will get the lion's share of the Rs 15,000 crore earmarked for capital infusion in state-owned banks for the current fiscal.
This will help these public sector banks (PSBs) meet regulatory requirements.
The capital infusion of Rs 15,000 crore would go mostly to banks which had got money through non-interest-bearing bonds in the previous year as the RBI had raised some concerns on the fair valuation of these instruments, sources said.
As per the RBI, the net present value of infusion made last year through zero-coupon bonds is much lower than face value as they were issued at discount, the sources added.
These special securities with tenure of 10-15 years are non-interest bearing and valued at par. Such bonds usually are non-interest bearing and issued at a deep discount to the face value. So, the effective Tier 1 capital levels for the banks could be lower than the regulatory requirement.
According to India Ratings and Research, fair valuing of the equity infused by the Government of India (GoI) in five PSBs last year through zero-coupon bonds could lower the banks' effective Tier 1 capital levels in the range of 50-175 basis points than reported.
Earlier this month, Punjab & Sind Bank got board approval to raise equity capital worth Rs 4,600 crore by issuing preference shares to the government.
This would help the bank augment capital to the required level and save it from coming under the prompt corrective action (PCA) framework.
Similarly, sources said, the decision for the quantum for other banks would be taken in March and subsequently funds would be infused.
The net worth of zero coupon bonds could be lower by almost 50 per cent at end-FY'22 at the outset than similar maturity government papers in the market, given they do not carry any interest, India Ratings said, adding the illiquid, non-trading nature of these securities could add to the discount.
These banks have moderate competitiveness (albeit better than last year) to raise equity and would need to offer materially higher yields to raise Additional Tier 1 (AT1) capital from the markets. Valuing these zero-interest bonds at a fair level could coerce these banks to raise either equity or AT1 in the near term solely on account of this factor, it said.
In the Budget 2022-23, the government trimmed the capital infusion target to Rs 15,000 crore from Rs 20,000 crore estimated earlier for 2021-22.
The first capital infusion through non-interest-bearing bonds was in Punjab & Sind Bank in the third quarter of 2020-21. It was followed by Rs 14,500 crore into four lenders -- Bank of India, Indian Overseas Bank, Central Bank of India and UCO Bank in March 2021.
Central Bank of India received Rs 4,800 crore, UCO Bank Rs 2,600 crore, Bank of India Rs 3,000 crore and Indian Overseas Bank Rs 4,100 crore.
Former NSE Group Operating Officer Anand Subramanian, who was arrested by the Central Bureau of Investigation earlier on February 25, was the mysterious Yogi who guided the actions of former CEO Chitra Ramkrishna, CBI sources have said, reported CNBC-TV18.
As per the sources, Subramanian was the person who had created the e-mail ID ‘rigyajursama@outlook.com’, which Chitra Ramkrishna used to use to transfer NSE's confidential information from rchitra@icloud.com.
The CBI had arrested Anand Subramanian after expanding its investigation into a co-location scam in the National Stock Exchange following the emergence of “fresh facts” in a Sebi report that referred to a mysterious yogi guiding the actions of former CEO Chitra Ramkrishna.
Ramkrishna, who succeeded former CEO Ravi Narain in 2013, had appointed Subramanian as her advisor who was later elevated as Group Operating Officer (GOO) at a fat pay cheque of Rs 4.21 crore.
Subramanian's controversial appointment and later elevation besides crucial decisions were guided by an unidentified person who Ramkrishna claimed was a formless mysterious Yogi dwelling in the Himalayas, a probe into Ramkrishna's email exchanges during the Sebi-ordered audit showed.
An audit report allegedly referred to Subramanian as a mysterious yogi, but it was dismissed by the Securities and Exchange Board of India (Sebi) in its report on February 11, the CBI said. Ramakrishna had left the NSE in December 2016.
Years later, the SEBI charged former NSE CEO Ramkrishna and others with alleged governance lapses in the appointment of Subramanian as the chief strategic advisor and his re-designation as group operating officer and advisor to MD. A fine of Rs 3 crore was levied on Ramkrishna, Rs 2 crore each on NSE, Subramanian, former NSE MD and CEO Ravi Narain, and Rs 6 lakh on V R Narasimhan, who was the chief regulatory officer and compliance officer.
The CBI, which was probing the co-location scam since 2018 against a Delhi-based stockbroker, swung into action after the Sebi report which showed alleged abuse of power by the then top brass of the NSE, the officials said.
On Friday, the High Court of Bombay directed the Reserve Bank of India (RBI) to allow a petitioner, Kishor Sohoni to exchange Rs 1.6 lakhs worth of demonetised notes.
In an old case of cheating where Sohoni was a complainant, a Kalyan Court magistrate in March 2016 had directed the accused to deposit Rs 1.6 lakh with the local police station.
Despite Sohoni's request to the magistrate for an order allowing him to collect the money before the Dec 31, 2016 deadline for exchanging old notes, he was not allowed to do so & the order was passed only on March 20, 2017.
DEMAND AN AD-HOCK DA IF CURRENT DA IS INTERFERING IN THE INQUIRY PROCEEDINGS ------
Shukla sir ,namskar ,
I am a senior manager in Canara bank near by NewDelhi , I am defending a CSO ,our cause of worry is IO is changing his rulings in every proceedings , during course of inquiry proceedings he is consulting with HR DEPT along with DA & thus ulters his earlier rulings ,in short DA’s interference is clearly visible so it is sure & certain that we won’t get justice from current DA we have raised the matter with IO in inquiry proceedings to which IO has noted with remarks that I cann’t violate instructions of higher authority ,so please suggest us what we should do? I heard much about adhock DA can we demand like that ?
(Reced through a sr manager canara bank via email )
RESPONDING TO SR MANAGER CANARA BANK (DR) AS UNDER --------
Dear friend , namskar ,
Rules with regard to power of Review & Revision .----
It is well established that a quasi-judicial authority (IO) can’t review it’s own decision unless power of review is expressly conferred on it by the statute under which it derives as directed by the apex court in Dr.K Gupta v/s Hindu K.M. Sitapur A.I.R.1987 SC 2186 Bank employees service rules and disciplinary action
has no express provisions of review clause for the quasi-judicial authority (IO)
NARRATE ALL THE RULINGS THAT IO CHANGED DUE TO INTERFERENCE OF DA --------
RULING DATED----- -------- CHANGED AFTER Das INTERFERENCE
so It confirms that the inquiry officer has exceeded his power due to unlawful interference of DA affecting the inquiry officer’s discretion & right now the proceeding conducting by the inquiry officer is vitiated
DEMAND TO APPOINT AN AD-HOCK DA TO DA -----
So is it requested to appoint ad-hoc disciplinary authority who can conduct fare hearings under the strict guidance of natural justice.
DA shall have no alternative except to appoint ad-hock DA or will refer the matter to his higher authority ,if this exercise is not done then in the court of law the whole inquiry proceedings will be set aside .
IDBI Bank officers and employees unions have voiced their concerns at the proposed move of the Central Government and the Life Insurance Corporation of India (LIC) to sell their stake to private players. The Government is likely to begin roadshows shortly to gauge investor interest.
Currently, GoI and LIC have 45.48 per cent and 49.24 per cent shareholding, respectively, in IDBI Bank, with the latter being the promoter of the Bank with management control.
Referring to reports of proposed road shows for IDBI Bank stake sale, the Unions and Associations, in a joint statement said, “We...register our strong protest against the proposed sale of IDBI Bank to private players.”
The Unions observed that the move of the Central Government is totally against the solemn assurance given by the then Finance Minister in both the Houses of the Parliament in 2003 that Government of India, at all times, would maintain not less than 51 per cent shareholding in IDBI Bank.
“The Central Government being promoter with 45.48 per cent shareholding, the general public have reposed their continued faith in IDBI Bank because of which the deposits in IDBI Bank stood at ₹2,22,578 crores as on December-end 2021.
“In case of sale of IDBI Bank to private players, the hard-earned money of common man and the general public will be at great risk,” as per the statement jointly issued by All India IDBI Officers’ Association, IDBI Officers’ Organisation, All India IDBI Employees Association, and IDBI Karmachari Sangh.
In this regard, the Unions noted the hardship that depositors of the erstwhile Punjab & Maharashtra Co-operative Bank (PMC Bank) and Lakshmi Vilas Bank, and YES Bank had to face in the recent past.
“While we strongly oppose the proposed sale of IDBI Bank to private players, we demand re-classification of IDBI Bank as a Public Sector Bank with GoI (45.48 per cent stake) and LIC (49.24 per cent) as promoters, and GoI’s shareholding in IDBI Bank to be always “not less than 51 per cent,” the statement said.
As the Enforcement Directorate on Wednesday registered a case of money laundering against Gujarat-based ABG Shipyard based on the complaint of the State Bank of India, the company has been described as being involved in “India’s biggest bank fraud”. The company’s chairman, Rishi Kamlesh Agarwal, was questioned by the Central Bureau of Investigation for defaulting on loans amounting to Rs 22,842 crore that ABG Shipyard took from 28 banks.
The loan account had been declared as a non-performing asset in July 2016, after futile attempts at restructuring it by the State Bank and a failure to recover the money through the process laid out under the Insolvency and Bankruptcy Code. It was declared a fraud in 2019.
Of the 28 institutions that are owed money, 13 are public sector banks, three are international subsidiaries of public sector banks and three are government-owned entities.
Two complaints
The State Bank had filed two complaints with the Central Bureau of Investigation about the bad loans, once in November 2019 and then in December 2020. While Finance Minister Nirmala Sitharaman has defended the long delay in prosecuting Agarwal and his associates, it is rather disturbing that the CBI took one-and-a-half years to “scrutinise” the matter even after the second complaint by the State Bank. By this time, the bank had already given the clarifications that were sought after the first complaint.
At a time when India seems to be ready to hand over its railways, highways, ports and pipelines to private hands on lease, these frauds come as a rude reminder of how the government is gambling with the savings of ordinary citizens.
Source: All India Bank Employees Association
But before we proceed any further, we need to comprehend the size of this scam – which involves public money.
In the pandemic year of 2021, the revised estimate of the Uttar Pradesh government’s spending on health and family welfare for its 23.50 crore people (who form 16.5% of India’s population) was Rs 20,582 crores, which is lower than the amount of money in the ABG bank fraud of Rs 22,842 crores.
That year, the total loan amount disbursed by all scheduled commercial banks to the 17,85,818 Micro, Small and Medium Enterprises account holders in the state of Assam as priority sector lending amounted to Rs. 22,698 crores. Again, this is slightly less than the loan fraud amount of ABG Shipyard.
In the same period, the total loan amount disbursed by scheduled commercial banks as loans to weaker sections under the priority sector to the 44,16,674 account holders in the entire North Eastern region (comprising the states Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura) amounted to Rs. 22,329 crores. That is still Rs 513 crores less than the loan fraud amount involving ABG Shipyard.
But then again, it is not about Rishi Agarwal or businessman Vijay Mallya, who owes Rs 10,000 crore or Nirav Modi, accused of fraud amounting to Rs 11,356.84 crore. It is about a deliberately flawed lending policy that has added to the mounting fraud loans and Non Performing Assets over the years.
It is pertinent to note that the total fraud loans in 2020-’21 in India amount to Rs 137,023 crores, which accounts for 99% of all bank frauds.
Again to put this in perspective, the figure for fraud loans is higher than the total agricultural loans disbursed by all scheduled commercial banks to just over 71 lakh account holders in the state of Uttar Pradesh as priority sector lending in the pandemic year of 2021. That amounted to Rs 99,083 crores.
Loans to Micro, Small and Medium Enterprises in Uttar Pradesh amounted to Rs 105,219 crores.
It is also substantially higher than the Centre’s revised estimate of Rs 86,000.65 crore for the Ministry of Health and Family Welfare for the year 2021-’22.
As per Reserve Bank of India data sought in an RTI, as of March 2021, Indian banks have reported total frauds amounting to Rs 4.92 lakh crores.
By far the biggest chunk of frauds has been borne by the public sector banks. Looking at the numbers for 2019-’21, public sector banks account for Rs 2,94,332 crores of frauds while the share of frauds for private sector banks is Rs 86,355 crores. This is despite the fact that in 2020-’21, the number of frauds under the private sector was much higher (3,710) than in the public sector (2,903).
The larger amount of fraud in public sector banks is linked to its higher corporate exposure to risky sectors of the economy, something that has been deliberately encouraged by the government to support its corporate “champions”.
Looking at NPAs
The story gets compounded when we take stock of Non Performing Assets. In March 2021, the Non Performing Assets of India’s scheduled commercial banks stood at Rs 8.35 lakh crore. Of this, about 77.9% were the loans that remained unpaid by larger corporate borrowers, mostly from the public sector banks.
In March 2021, the finance minister informed the Lok Sabha that the scheduled commercial banks have written off loans worth Rs 5.85 lakh crore during the last three financial years, while recovery has been paltry, at just over Rs 68,000 crore.
The process of large-scale, long-term lending of public money through commercial banks has been facilitated by the “ease of business” pressures of India’s market fundamentalist-driven system. Instead of keeping such mega-infrastructural lending in the domain of Development Finance Institutions, the hard-earned savings of ordinary Indians were unlocked for speculative, risky and sometimes fraudulent ventures.
It is the resultant unbridled investments in risky large-scale projects in the private sector that has cumulatively compounded these Non Performing Assets.
Days before news of the ABG Shipyard’s loan fraud appeared in the headlines, Finance Minister Nirmala Sitharaman presented her Budget speech. She made only a passing reference to the Non Performing Assets crisis, saying that the bad bank – the National Asset Reconstruction Company Ltd to resolve cases involving large bad loans – is up and ready.
However, far from addressing the fundamental issues concerning regulating and monitoring corporate loans, lending policy or recovering bad loans, the National Asset Reconstruction Company Ltd will merely be shifting bad loans from one book to another.
This seems like a desperate move to clear balances six years after the Insolvency and Bankruptcy Code has been in operation to deal with the Non Performing Assets of large corporate borrowers. But recovery by lenders through the Code process has not been as bright as was hoped. In 2017-’18, lenders recovered 51.3% of their claims but the figure came down to 46.4% the next year. It dropped further to 16.8% in 2019-20. In 2020-’21, lenders recovered only 28.5% of their claims.
Claims ring hollow
ABG Shipyard in fact was one of the initial “dirty dozen” – the first 12 cases – referred to the Insolvency and Bankruptcy Code process in June 2017. But it remained unresolved for nearly five years. There were several failed attempts to liquidate the company. The first auction was attempted in September 2019 and the fifth in August 2020, but there were no buyers.
In December 2020, the National Company Law Tribunal allowed the company to be liquidated.
This in itself speaks volumes about the process of the Insolvency and Bankruptcy Code and its “time-bound recovery” claims.
Rather than playing with public money by writing off large corporate bad loans again and again, India needs to strengthen loan recovery processes, introduce stricter regulation and lending policies, regular audits and to separate long-term infrastructure lending to private companies from commercial banking.
Instead, the government seems inclined to favour big corporations, giving them massive tax cuts and write offs on bad loans while passing the burden of their frauds and taxes onto the people. We must follow the ABG Shipyard scam closely as it unfolds. We must not only count the zeroes, but also hold those responsible to account.
Ashish Kajla and Anirban Bhattacharya authors are researchers at the Centre for Financial Accountability and analyse the government’s financial decision making from a people-centric perspective.
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Apply on-line from17 Feb @opportunities.rbi.org.in Reserve Bank of India (RBI) is hiring 950 Assistants Posts on its official web site @opportunities.rbi.org.in.
Check the way to Apply for Assistant recruitment 2022 Application method, Vacancy, vital Dates, Qualification, choice method, examination Pattern and alternative details below here.
RBI Assistant recruitment 2022 RBI Assistant recruitment 2022: central bank of India that is (RBI) can unleash the beginning the net registration method for recruitment to the Assistant on 17th Feb 2022.
A brief notice has been free by the examination in line with that the graduates will register for Assistant 2022 upto 08th March 2022. Assistant Notification shall even be on the market presently at official web site i.e. opportunities.rbi.org.in and within the employment newspaper. As per reports, a complete of 950 vacancies shall be stuffed across the country in varied offices of the Bank classified into West, South, North, and East Zone.
The bank can conduct a nationwide examination for the selection of candidates. the primary section of the examination i.e. Assistant Prelims is anticipated on twenty six and twenty seven March 2022. those that qualify within the prelims are going to be referred to as the mains examination. is additionally expected to conduct combined pre-examination coaching at sure centres for a restricted variety of SC/ST/OBC/PWD candidates in consonance with the rules issued by the govt. of India.
Last date for application: 8th march 2022 (Tentative Dates)
Exam date :27/28th march 2022 (Tentative Dates)
Post Name
RBI Assistant
No of Vacancy
950
Assistant Notification Date 3rd week of Feb 2022
Assistant on-line Registration beginning Date seventeen Feb 2022 Assistant on-line Registration Last Date 08 March 2022
Assistant examination Date twenty six and twenty seven March 2022
Assistant Vacancy 950
RBI Assistant Eligibility Criteria RBI Assistant
Qualification Graduation in any discipline with a minimum of 50% marks (pass category for SC/ST/PWD candidates)
A candidate happiness to Ex-servicemen class (except dependents of ex-servicemen) ought to either be a graduate from a recognized University or ought to have passed the admittance or its equivalent examination of the militia and rendered a minimum of fifteen years of defence service.
Candidates applying for post in an exceedingly explicit recruiting workplace ought to be skilled within the language (i.e. understand to browse, write, speak and perceive the language) of the state/ any of the states falling underneath the recruiting workplace.
RBI Assistant Age Limit: 20 to twenty-eight years
Selection method for Assistant Posts Selection for the posts are going to be done through:
ONLINE examinations in section - I and
section - II Language Proficiency take a look at (LPT).
Selection pattern for RBI Assistant Preliminary exam :
RBI Assistant examination Pattern RBI Assistant Prelims examination Pattern: Total variety of queries - one hundred in three sections (30 on English Language, 35 on Maths and 35 on Reasoning Ability)
Note: there'll be negative marking of 1/4th marks in each prelims and mains
RBI Assistan LPT 2022 Those who qualify within the mains examination can have to be compelled to endure a language proficiency take a look at (LPT). The language proficiency take a look at are going to be conducted within the Official / native Language of the State involved as elaborated below). Candidate not skilled within the Official / native Language shall be disqualified.
The workplace wise native language/s is/are as follows: Ahmedabad – Gujarati
Go to the official web site of rbi - opportunities.rbi.org.in and visit 'Current Vacancies' then 'Vacancies' Now, click on and click on on the choice "Recruitment for the post of Assistant" which can open a brand new screen.
To register application, select the tab "Click here for new Registration" and enter Name, Contact details and Email-id.
Validate your details and Save your application by clicking the 'Validate your details' and 'Save & Next' button
Upload image & Signature as per the specifications given within the pointers for Scanning and transfer of Photograph and Signature.
Now, fill in alternative details of the applying type.
Click on the Preview Tab to preview and verify the whole form before FINAL SUBMIT.
Modify details, if needed, and click on on 'FINAL SUBMIT' solely once confirming and guaranteeing that the photograph, signature uploaded and alternative details stuffed by you're correct.
Click on 'Payment' Tab and proceed for payment. Click on 'Submit' button.
FAQ what’s Assistant salary? Around 30000/- to 35000/-
Who will apply for Assisant Vacancy 2022 ?
Graduates between 20 and 28 years getting on 2022 are eligible to apply.
What is Assistant Application Last Date ? 8 March 2022
