Pregnant Woman in Odisha Lost her Child After Denial of Leave by Officer

Kendrapara, Odisha: A 26-year-old employee of the Odisha government claims she lost her unborn child after allegedly being denied leave despite experiencing severe labor pains. The incident, which occurred on October 25, came to light on Tuesday when the woman, Barsha Priyadarshini, shared her ordeal with the media

Barsha, employed with the Women and Child Development Department in the Derabish block of Kendrapara district, was seven months pregnant when she began experiencing intense pain at work. She alleges that despite pleading for assistance to be taken to the hospital, her requests were ignored by her superior, Child Development Project Officer (CDPO) Snehalata Sahoo, and other staff. According to Barsha, she was also mistreated by Sahoo.

Later, Barsha’s family took her to a private hospital in Kendrapara, where an ultrasound confirmed the tragic loss of her baby. Barsha attributes her loss to what she described as “mental harassment and gross negligence” by the CDPO. She has filed a written complaint to the district collector, seeking strict action against Sahoo.

Additional District Magistrate (ADM) Nilu Mohapatra stated, “Upon receiving the complaint, the district administration has directed the District Social Welfare Officer (DSWO) to conduct an investigation and submit a report. Appropriate action will follow based on the findings.” Expressing concern, Deputy Chief Minister Pravati Parida also addressed the incident, stating on social media that she had instructed the Kendrapara collector to conduct a thorough investigation.

Meanwhile, DSWO Manorama Swain confirmed that a committee will be formed to examine the incident, and a report will be submitted promptly. Responding to the allegations, CDPO Snehalata Sahoo stated she was unaware of Barsha’s distress on the day in question.

ED Returns Properties Worth Rs.185 Crore to SBI and Other Banks against Rs.828 crore Bank Loan Loss

In a major win for public sector banks, the Directorate of Enforcement (ED) in Chandigarh has returned properties worth ₹185.13 crore to a State Bank of India (SBI)-led consortium of banks. The assets, seized from the now-defunct Surya Pharmaceuticals Ltd., were handed over via the Official Liquidator following a restitution order issued by the Hon’ble Special Court on October 25, 2024. This action is part of the ED’s ongoing efforts to restore misappropriated funds to victims of financial fraud under the Prevention of Money Laundering Act (PMLA).

The ED initiated its investigation into Surya Pharmaceuticals Ltd. after the Central Bureau of Investigation (CBI) filed several FIRs against the company. The investigation uncovered that Surya Pharmaceuticals, led by directors Rajiv Goyal and Alka Goyal, had used fraudulent means to secure loans from a consortium of banks, causing an estimated ₹828.5 crore loss. The company allegedly forged documents such as invoices, transport details, and lorry receipts to obtain Inland Letters of Credit (ILCs) and Foreign Letters of Credit (FLCs) from banks. The funds from these loans were funneled through a complex network of group companies and shell entities, effectively siphoning off the money and causing massive financial damage to the lending banks.

The ED found that the company had used round-tripping tactics to disguise the proceeds of crime, circulating funds through various accounts to create a misleading financial trail. Following these revelations, the ED issued a Provisional Attachment Order on October 14, 2022, seizing assets valued at ₹185.13 crore, including land, buildings, machinery, and fixtures located in Samba, Jammu

Rajiv Goyal and Alka Goyal, who allegedly orchestrated the fraud, fled India and were declared proclaimed offenders by a Chandigarh court on July 10, 2017. In light of this, the ED collaborated with the lending banks and the Official Liquidator appointed by the National Company Law Tribunal (NCLT) to facilitate the restitution process. The ED held meetings with the claimants and eventually provided a no-objection clearance to the Hon’ble Special Court, allowing the restitution of the seized assets to the affected banks.

After securing the ED’s approval, the Special Court ordered the properties to be handed over to the consortium of banks through the Official Liquidator under Section 8(7) of the PMLA, 2002. This move aims to help recover a portion of the funds lost due to the fraudulent activities of Surya Pharmaceuticals Ltd. and its promoters.

The ED’s action in this case is seen as a significant step toward protecting the interests of public sector banks. The Directorate has emphasized its commitment to supporting victims of financial fraud and recovering misappropriated assets. Meanwhile, the ED has confirmed that further investigations are ongoing to uncover more details related to this large-scale bank fraud.

What PSU Banks gave as Diwali Gift to their Employees?

As Diwali approaches, many companies are going the extra mile to show appreciation for their employees with generous gifts. Some private sector companies have distributed lavish presents worth lakhs of rupees, and a few have even surprised their employees with brand-new cars as a symbol of gratitude and motivation.

This festive spirit of appreciation is also seen in Public Sector Undertaking (PSU) banks, where employees are being recognized for their hard work and dedication throughout the year. While PSU banks may not match the extravagance of luxury items or cars, they are honoring their staff in thoughtful ways that reflect the values and culture of these institutions. For instance, several PSU banks have announced Diwali gift packages, which include cash bonuses, gift vouchers, or hampers with sweets and other festive items. These gifts are a token of appreciation from the banks, symbolizing their commitment to fostering a sense of community and morale among employees.

PSU Banks Diwali Gift to their Employees

Public Sector Banks typically provide gifts and sweets to their employees. Since these banks are government-owned, they are restricted from giving luxurious items. Instead, they offer gifts and sweets within a specific monetary limit. Let’s take a look at the amount limit set for each bank.

Note: If any data is wrong, please send us the correct details on email: swapan,bhattacharya02@gmail.com

Bank	Diwali Gift (Rs.)
SBI	2500
Bank of India	1500
Bank of Baroda	2000
Indian Bank	–
PNB	2000
Punjab & Sind Bank	–
Canara Bank	2500
UCO Bank	1000
Indian Overseas Bank	2500
Union Bank of India	1750
Central Bank of India	500
Bank of Maharashtra	1000

PSU Banks Diwali Gift to their Employees

UCO Bank aims Rs 3000 Crore Recovery This Fiscal Year, Read what UCO Bank MD&CEO said

UCO Bank, a public sector lender based in the city, is optimistic about recovering over Rs 1000 crore in the upcoming third and fourth quarters. The bank aims to finish the fiscal year with a total recovery of Rs 3000 crore, as revealed by Ashwani Kumar, the Managing Director and CEO of UCO Bank. Click here to check UCO Bank Net Profit for Sep 2024 Quarter. Click here to download UCO Bank Q2 Results PDF.

UCO Bank has reported a 50% year-on-year (YoY) jump in net profit at ₹602 crore for the second quarter that ended September 30, 2024.

Strong Recovery in the First Half

In an interview with the Times of India, Kumar shared that approximately Rs 479 crore of the total recovery in the first half of the fiscal year came from National Company Law Tribunal (NCLT) accounts. In the second quarter alone, the bank achieved a recovery of Rs 1,017 crore, with Rs 414 crore sourced from NCLT accounts, primarily from two significant cases.

Overview of the Bank’s Credit Portfolio

UCO Bank has a total advance book of Rs 1.9 lakh crore. Last year, the bank reported a total recovery of Rs 3,127 crore. Kumar explained that the bank’s credit portfolio is diversified, with 62% in retail, micro, small, and medium enterprises (MSMEs), and agriculture sectors. The remaining 38% is dedicated to corporate lending. Notably, the retail sector makes up 27% of the loan book, with housing loans being the largest segment at 54%.

Kumar emphasized the impressive growth in the vehicle loan segment, which has expanded by 38% over the past year, rising from Rs 2,500 crore to Rs 3,500 crore. Despite representing only 7% of the total loan book, this sector has shown consistent double-digit growth for the last six quarters.

Targeting Growth in Credit and Deposits

In terms of overall growth, UCO Bank is targeting a credit increase of 12-14% and a deposit growth of 10% for the fiscal year. According to data from the Reserve Bank of India (RBI) as of October 4, deposit growth is finally outpacing credit growth across the banking industry.

Measures to Improve Credit Delivery

To facilitate quicker credit delivery and improve the bank’s Current Account Savings Account (CASA) and retail term deposits, UCO Bank has implemented various measures. These include the establishment of dedicated hubs focused on retail, MSME, agriculture, and other sectors. Kumar noted, “We have segregated sourcing and sanctioning to enhance standardization and monitoring.”

UCO Bank has maintained its CASA deposit at 38% for the past 5-6 quarters and is aiming to increase it to 40% in the upcoming quarters, indicating a strong focus on enhancing its deposit base while ensuring sustainable growth in lending.

Unemployment Rate in India [Updated]

Unemployment is a big problem in India that affects the country’s economy. India has a huge population with a diverse workforce, so changes in the unemployment rate have a big impact on the country’s growth. In this article, we will have a look at the latest unemployment rate in India and we will also learn how unemployment rate is calculated. 

Last 10 years Unemployment Rate in India 2024

Year	Unemployment Rate (percent)
2024	7.8 (September 2024)
2023	8.003
2022	7.33
2021	5.98
2020	8.00
2019	5.27
2018	5.33
2017	5.36
2016	5.42
2015	5.44
2014	5.44
2013	5.42
2012	5.41
2011	5.43
2010	5.55
2009	5.54
2008	5.41

• Unemployment Rate = Number of Unemployed Persons / (Number of Employed Persons + Number of Unemployed Persons)

To be classified as unemployed, an individual must meet specific criteria:

• They must be at least 16 years old and available to work full-time in the last four weeks.
• They should be actively seeking employment during this period.
• Some exceptions include individuals who are temporarily laid off and actively looking to rejoin their previous jobs.

One More Fake Bank Branch opened in Himachal Pradesh, 500 Fake Passbooks seized

Himachal Pradesh: A major fraud case has been uncovered in Hamirpur, where individuals were reportedly lured with the promise of low-interest loans at just 2% interest. Authorities discovered that permission to open the alleged bank branch was obtained from Navi Mumbai Jan Kalyan Nidhi Limited. However, questions remain about the authenticity of these documents, and investigators have found that the necessary approvals from the Himachal Pradesh government were never obtained.

Vigilance Seizes Hundreds of Fake Bank Passbooks

Within a span of just one and a half to two months, approximately 500 passbooks were printed in the name of this fake bank and distributed to people in Hamirpur and nearby districts. Vigilance officers have seized these passbooks as evidence. The person listed as the Managing Director of the branch, Krishna Chand, is accused of defrauding people by promising them loans and insurance under the name of the Himachal Small Industries Welfare Association, all supposedly at a low 2% interest rate. Two other suspects, Shikha Rana and Shivani, are also in judicial custody regarding this case. ASP Vigilance Renu Sharma confirmed that three individuals connected to this fake bank case have filed for anticipatory bail in the High Court, while investigations continue. The three arrested suspects remain in judicial custody until October 26.

Anticipatory Bail Petitions Filed in High Court

In connection with this case, three individuals reportedly employed by the fake bank have sought anticipatory bail in the High Court. Among them is a woman and two men, all of whom held various positions in the alleged branch. Their exact roles in the fraudulent operations remain under investigation.

How the Fraud Was Uncovered

The scam came to light last Saturday during a Vigilance raid at the Himachal Small Industries Welfare Association office in Hamirpur’s Housing Board Colony. During the raid, officers found evidence of significant cash and UPI transactions, implicating around 30 victims in the scam. Documents linking the alleged branch of Navi Mumbai Jan Kalyan Nidhi Limited were discovered at both the residence of accused Krishna Chand and the association’s office, raising suspicions about additional frauds potentially tied to the union and bank branch.

Further Revelations Expected as Investigation Continues

With evidence pointing to possible larger fraudulent schemes, authorities expect more shocking revelations as the investigation progresses. The case highlights the importance of verifying credentials before engaging in financial transactions, as scams disguised under credible names and appealing offers can lead to severe losses for unsuspecting individuals.

GST Officer and his Wife Sentenced to Jail for having assets more than Income

 The Jabalpur bench of the Madhya Pradesh High Court has overturned the termination of a Junior Assistant employed on a contractual basis with the Madhya Pradesh Road Development Corporation (MPRDC). The court ruled that the employee’s termination was unjustified, as it was based solely on the registration of a criminal case without following proper legal procedures.

Court Questions Termination Over Criminal Case

The petitioner, employed as a Junior Assistant since 2011, had his services terminated in April 2022 after being implicated in a bribery case. However, the court pointed out that the Madhya Pradesh Sadak Vikas Nigam (Sewa Bharti Tatha Sewa Sharten) Niyam, 2016 does not include any provision allowing termination solely on the basis of a registered criminal case.

No Grounds for Termination Without Investigation

Justice Sanjay Dwivedi, in his ruling, emphasized that the termination was a harsh action, especially since the rules clearly state that a major penalty like dismissal or termination can only be imposed after a conviction in a criminal case. The registration of a criminal case, without further investigation or conviction, does not justify immediate termination.

Contractual Termination Rules Misinterpreted

The court highlighted that under the agreement between the employee and the corporation, the services could be terminated with one month’s notice or salary. However, the court clarified that this clause cannot be used arbitrarily or as a tool for dismissing employees without a valid reason. The court underscored that such termination should follow Madhya Pradesh Civil Services (Classification, Control and Appeal) Rules, 1966, which require a proper inquiry.

Principles of Natural Justice Violated

The High Court stressed that the corporation’s decision violated the principles of natural justice. Terminating an employee’s service without due cause, or simply based on a clause in the contract, does not give the employer the right to act arbitrarily. The employee must be given an opportunity for a fair hearing, and the termination should be based on valid reasons.

Petitioner Entitled to Wages for Time Lost

As a result of the ruling, the petitioner is entitled to receive wages for the period he was out of work due to the wrongful termination. The court’s decision reinstates the employee and holds the corporation accountable for failing to follow due process.

Court says Pension and Gratuity Cannot Be Denied for Unrelated Criminal Proceedings

The Rajasthan High Court has ruled that withholding the retirement benefits of a retired government employee due to a pending criminal case unrelated to her official duties is unjustified and violates the right to life. The court emphasized that pension and other retirement benefits are essential for the livelihood of retired employees and their families.

Court Highlights Importance of Retirement Benefits

Justice Farjand Ali’s bench ruled that pension, gratuity, and other retirement benefits are the earnings of an employee for their years of service. Taking away or withholding these benefits after retirement would deprive the employee of the means to support themselves and their family, violating the basic right to life.

The court stated, “The pension, gratuity, and other retiral benefits are the earnings of an employee for the services rendered by them. Withholding such benefits after retirement deprives the petitioner of the right to life because these are the sources by which the petitioner and their family arrange for their bread and necessities.”

Case Background: Librarian’s Benefits Withheld Due to Criminal Case

The petitioner, a government librarian who retired in 2022 after 37 years of service, had her retirement benefits withheld by the state due to a pending criminal appeal. In 2000, she was convicted in a case of abetment to suicide under Section 306, IPC, for which she had filed an appeal that was awaiting final judgment. Despite her years of service without any departmental misconduct, her benefits were withheld on the grounds that they would be granted based on the outcome of the criminal case.

Petitioner’s Appeal for Provisional Pension Ignored

The petitioner had requested provisional pension in line with Rule 90 of the Rajasthan Civil Services (Pension) Rules, 1996, which allows provisional pension when criminal or departmental proceedings are pending. However, the government ignored her plea, leading her to file a petition in court.

Her lawyer argued that the criminal case had no connection to her professional duties, making it unfair to withhold her retirement benefits. The court agreed, stating that denying her benefits caused her great financial hardship since she had no other source of income.

Court Refers to Previous Decisions on Pension Rights

The court referred to previous decisions by the Rajasthan High Court that upheld the right of employees to receive pension and gratuity despite unrelated criminal proceedings. In Mahesh Chandra Soni v. State of Rajasthan & Ors, the court had ruled that withholding pension due to unrelated proceedings was unjustified. Similarly, in H.R. Choudhary v. Central Administrative Tribunal & Ors, it was held that the mere pendency of an appeal against a criminal conviction was not sufficient grounds to withhold full pension.

Court’s Decision: Withholding Benefits Unjustified

The court ruled that the criminal case against the petitioner was unrelated to her duties as a librarian and should not impact her retirement benefits. Furthermore, her clean service record over 37 years supported her case for receiving pension and gratuity.

The court emphasized, “The basic purpose of retirement benefits is to ensure that an employee, after retiring, does not face financial problems. Withholding benefits solely due to a criminal case that has no connection to the employee’s official duties is unjustified.

Contract Employees are Entitled to Maternity Benefits: Madras High Court

In an important verdict, the Madras High Court has ruled that contract employees are entitled to maternity benefits, just like permanent employees. The court held that the Maternity Benefits Act of 1961 will take precedence over any contractual agreements that either deny maternity benefits or provide less favorable terms. This decision is seen as a major win for women working on contract in various sectors.

The ruling was delivered by a First Division Bench comprising Chief Justice K.R. Shriram and Justice Senthilkumar Ramamoorthy. The court made the decision while hearing a writ petition filed by the MRB Nurses Empowerment Association, which had been pending since 2018. The petition was filed after nurses working under the National Rural Health Mission (NHRM) were denied 270 days of paid maternity leave.

The petition argued that despite being appointed to improve healthcare in rural areas under the NHRM scheme, which is funded by the Central Government, the nurses were not being given their rightful maternity benefits. The nurses were employed on a contractual basis with a consolidated monthly pay of ₹7,000, which was later revised to ₹11,000 following court orders.

The petitioner’s lawyer, M. Padmavathy, informed the court that over 11,000 nurses had been appointed under the NHRM in Tamil Nadu. Despite the fact that the Maternity Benefits Act grants 270 days of paid maternity leave to employees who have completed over two years of service, the state government had been denying this benefit to NHRM nurses on the grounds that they were contract employees.

The court, after hearing these arguments, pointed out that the Supreme Court had already established in the Dr. Kavita Yadav vs Secretary, Ministry of Health and Family Welfare (2024) case that women employees are eligible for maternity benefits, even if their contract ends during maternity leave. The 1961 Act, the Supreme Court noted, was created to protect women’s rights during pregnancy and to help them balance their roles as both workers and mothers.

Chief Justice Shriram emphasized that Section 27 of the Maternity Benefits Act of 1961 ensures that its provisions override any contractual terms that deny or limit maternity benefits. He noted that the respondents’ reliance on contractual terms to deny benefits was not legally acceptable.

The court ordered that all pending and future requests for maternity benefits from NHRM nurses on contract should be processed according to the provisions of the Maternity Benefits Act. The state government was instructed to resolve these applications within three months.

This ruling is a landmark decision, ensuring that contract employees across sectors are treated equally under the Maternity Benefits Act, giving them the protection they deserve during pregnancy.

SBI set to Outsource 40% of On-Site ATM Maintenance

The State Bank of India (SBI) is set to make a significant move in managing its automated teller machines (ATMs) by outsourcing the maintenance of 10,000 of its on-site machines. This plan, which sources from the ATM vendor and cash logistics industry describe as the largest of its kind, is expected to lead to a request for proposal (RFP) being issued in about 45 days.

Currently, SBI operates around 25,000 on-site ATMs, and if the RFP goes ahead as planned, this would mean that 40% of these machines will be maintained by external agencies. Overall, the bank has a total of 63,580 ATMs, which includes both on-site and off-site machines.

Outsourcing the maintenance of ATMs can help banks like SBI reduce costs and focus on their primary services. The ATM sector has been facing challenges, particularly due to rising expenses associated with loading cash. There’s also ongoing pressure to increase the interchange fee — the amount banks earn when customers use an ATM from another bank — from the current ₹17 to between ₹20 and ₹23 after five free transactions.

Another advantage of outsourcing is that it can address issues related to ATM downtime. When maintenance is handled by vendors, they become responsible for ensuring the machines are operational. If an ATM runs out of cash, the bank can hold the vendor accountable, potentially avoiding penalties.

The ATM market in India has been experiencing some activity recently after a period of stagnation following the demonetization of ₹500 and ₹1,000 notes in 2016, when the number of ATMs fell to 225,000. From September 2023 to March 2024, the number of RFPs in the ATM sector surpassed 44,500, which is higher than the 40,000 ATMs added after demonetization. SBI has previously floated an RFP to acquire 16,000 new ATMs and cash recyclers, as well as for the outsourcing of 17,500 ATMs.

Other banks are also looking into outsourcing their ATM maintenance. Bank of Baroda has placed an order for 7,500 outsourced ATMs, while Punjab National Bank has opted for 3,500. Additionally, the deployment of white-label ATMs (WLATMs), which are set up and managed by companies other than banks, has also increased, with companies like India1 Payments and Hitachi Payments surpassing 10,000 ATMs in their networks.

This strategic shift by SBI could reshape the landscape of ATM management in India, paving the way for enhanced efficiency and better customer service across the banking sector.

One more assault on Bank Employees in Maharashtra

Physical assaults on bank employees continue to be a serious problem in India. Recently, a disturbing video has gone viral on social media, showing customers attacking bank employees at a branch of the Bank of Maharashtra in Nasik, Maharashtra. This is not the first time such incidents have occurred; there have been many reports of attacks on bank staff in the state.

In the latest incident, customers at the Bank of Maharashtra branch in Nasik became aggressive and physically assaulted the employees. The video circulating online captures the chaos, showing how the situation escalated quickly. This attack not only puts the safety of bank employees at risk but also creates an unsafe environment for other customers who visit the bank for services.

Maharashtra has seen several similar incidents in the past. Bank employees have been subjected to violence and abuse from frustrated customers. Many of these attacks have been fueled by long wait times, service delays, or disputes over transactions. The pressure on bank employees can be intense, especially during times of economic stress when customers are anxious about their finances.

Such violence against bank employees has serious consequences. It affects the mental and physical well-being of those working in banks, leading to stress and fear about their safety. Many employees report feeling unsafe at work, which can impact their ability to serve customers effectively.

Additionally, these incidents can harm the reputation of the banking sector. When customers see videos of violence in banks, it can erode trust in these institutions and make people hesitant to visit banks for their financial needs.

Cabinet approved 3% Dearness Allowance hike for Central Govt Employees, Pensioners from July 2024

Cabinet approved 3% Dearness Allowance hike for Central Govt Employees, Pensioners from July 2024

In a festival bonanza, the central government on Wednesday announced a 3 per cent hike in dearness allowance (DA) for central government employees and dearness relief (DR) for pensioners, with effect from July 1, 2024, announced Union Information & Broadcasting Minister Ashwini Vaishnaw. After the latest decision, the DA has been increased from 50% to 53%.

Briefing about the Cabinet decision today, Union Information & Broadcasting Minister Ashwini Vaishnaw said, “It will have a financial implication of Rs 9,448 crore for central exchequer.”

The government has also increased dearness relief (DR) by 3 per cent for pensioners. DA is given to government employees, while DR is given to pensioners. DA and DR are hiked twice a year, with effect from January and July.

Punjab National Bank increases Diwali Gift amount for Employees

As the festive season approaches, Punjab National Bank (PNB) has announced an exciting initiative to spread joy among its employees this Diwali. The bank will be gifting each of its employees a delightful package worth ₹2,000, doubling the amount from last year, which was ₹1,000

A Festive Gesture

This generous gesture is in line with PNB’s commitment to fostering a positive work environment and recognizing the hard work and dedication of its employees. The gifts, which typically include sweets and other festive goodies, are a way for the bank to express gratitude to its staff, especially during the festival of lights, a time celebrated with joy and togetherness.

Strengthening Employee Morale

By increasing the gift amount this year, PNB aims to boost employee morale and enhance their festive spirit. The additional amount allows for a more varied selection of treats, ensuring that each employee can enjoy a special Diwali celebration with their family and friends.

Celebrating Togetherness

Diwali is a time for celebration, reflection, and gratitude. PNB’s thoughtful initiative not only enhances the festive experience for employees but also strengthens the bond within the organization. It is a reminder of the bank’s appreciation for its workforce and their contributions to the institution’s success.

Conclusion

As Punjab National Bank prepares to celebrate Diwali with its employees, the increase in the gift amount reflects a deep commitment to fostering a supportive and joyous work environment. This gesture not only enhances the festive spirit but also serves as a testament to the bank’s dedication to its employees’ well-being. Wishing all PNB employees a happy and prosperous Diwali!

Bank Merger: Two largest Gramin Banks in Bihar may be merged soon

The central government is planning to merge two rural banks in Bihar: North Bihar Gramin Bank and South Bihar Gramin Bank. This announcement is expected before March 2025, as part of efforts to restructure banks. The Union Finance Ministry is currently making preparations for this change.

Both banks together provide essential banking services to over 39,000 villages across Bihar. Once merged, they will operate as a single rural bank at the state level, making it easier for people in rural areas to access banking services.

This merger follows the previous integration of Central Bihar Gramin Bank and Bihar Gramin Bank, which created South Bihar Gramin Bank on January 1, 2019. South Bihar Gramin Bank is now the largest rural bank in India, with its headquarters in Patna. North Bihar Gramin Bank is based in Muzaffarpur. The new name and headquarters for the merged bank have not yet been decided.

By joining forces, the two banks will expand their reach across the entire state of Bihar. This merger is expected to improve the efficiency of the bank and speed up the implementation of various government schemes at the panchayat level. It will help deliver direct benefits to local communities and make it easier for people to get loans for employment.

The merger will help manage rural banking better across Bihar, improving business and the bank’s credit-deposit ratio. Since about 85% of Bihar’s population lives in rural areas, this merger is seen as a positive step for the rural economy.

Currently, North Bihar Gramin Bank operates 1,027 branches, while South Bihar Gramin Bank has 1,078 branches. North Bihar Gramin Bank has 2.5 crore account holders, whereas South Bihar Gramin Bank has 3 crore. While North Bihar Gramin Bank is making a profit, South Bihar Gramin Bank has faced a loss of ₹918 crore. The loan disbursement figures show North Bihar at ₹10,961 crore and South Bihar at ₹8,916 crore, with deposits totaling ₹17,850 crore and ₹23,484 crore, respectively. The net Non-Performing Assets (NPA) ratios are 8.53% for North Bihar and 30.7% for South Bihar