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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*********

Sunday, June 16, 2024

Meeting with IBA AND UFBU ON 15.06.2024 UPDATE

Dear friends As informed to you meeting was held today in the IBA office regarding 2 issues. Shri Rajneesh Karnataka Sir MD & CEO BOI
Shri B K Mishra Sir DMD SBI
Shri SL Jain Sir MD & CEO Indian Bank.
Shri Nidhu Saxena Sir MD & CEO BOM
Shri Gopal Bhagat Sir IBA
Shri Brajeshwari Sharma Sir IBA were present for the meeting.
 *Finalisation of the PLI Matrix* :-
Broad 8 parameters were finalised. CASA,NPA,SMA,Non interest income, Total business, profitability,ROA/ROE, and Government schemes.out of which 4-5 parameters can be finalized by individual Bank at its own level in their respective Board meeting.
Secondly a new bracket of 11 ranges from 5% to 15% were finalised (if your banks profit in fixed parameters is 8% you will get 8 days PLI if it's 14% it would be 14 days and so on ) which was not the case earlier as it was 5% 10% and 15% .Now this scheme will be applicable from 2023-24,  IBA will inform the 12 Banks accordingly, Banks would approve the same in their Board meeting and then release the amount.
 *Medical*scheme* few points were principally agreed. 
 *1.combined policy* for both employees and retirees to ensure less premium for retirees.
2.choice to be given to Banks if they wish to be a part of this policy or not
3.schemes are the same for all banks.
4 Float RFP after Banks    consent 
5 critical illness separate quotes for working employees. and the same medical scheme will be discussed in the next meeting in a few days time once mandate from all Banks is received.

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