BANK EMPLOYEE DA WILL DECREASE FROM MAY 2025 MINIMUM 21 POINT OR 1.23% AND MAXIMIM 24 POINT OR 1.44%

Expected DA Calculation Updated on 01.04.25 on the basis of CPI for the month of Feb'25 with the assumptions of CPI for Mar'25. The CPI for the month of Feb'25 announced on today 01.04.25 as 142.80 with a decrease of 0.40 points from Jan'25. (as per revised base year 2016) (The base year was changed from Oct 2020)

1. On assumptions if there is a decrease in CPI index by 0.30 points in the month of Mar'25 (However other than vegitables in this month the prices are rising regularly of commonly required daily needs / items and commodities which is making month over month difficult to manage family budget). Accordingly, on this assumption, we may expect there would be a decrease of 1.40% DA in terms of 12^th BPS on revised pay. Total 19.80% DA will become payable from May'25.
2. On assumptions if there is a decrease in CPI index by 0.20 points in the month of Mar'25, we may expect there would be be a decrease of 1.36% DA in terms of 12^th BPS on revised pay. Total 19.84 percentage of DA will become payable from May'25.
3. On assumptions if there is an increase in CPI index by 0.20 points in the month of Mar'25, we may expect there would be be a decrease of 1.23% DA in terms of 12^th BPS on revised pay. Total 19.97 percentage of DA will become payable from May'25.

A new hub for Heart Attacks- Only for Bankers

Difference of UPS from OPS and NPS: Rajya Sabha QA

Difference of UPS from OPS and NPS: Rajya Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES

RAJYA SABHA
UNSTARRED QUESTION NO. 3440

ANSWERED ON TUESDAY, 01 APRIL, 2025/ 11 CHAITRA, 1947 (SAKA)

DIFFERENCE OF UPS FROM OPS AND NPS

3440. Shri Parimal Nathwani:

Will the Minister of Finance be pleased to state:

(a) the details of how the new Unified Pension Scheme (UPS) differs from the Old Pension Scheme (OPS) and/or the National Pension Scheme (NPS);

(b) the details of State Governments who have shown interests to implement the same in their respective States for their employees; and

(c) whether the Central Government mulls extending additional financial support etc to the State Governments that adopt the UPS, if so, the details thereof?

ANSWER
MINISTER OF STATE FOR FINANCE
(SHRI PANKAJ CHAUDHARY)

(a) Unified Pension Scheme (UPS) has been notified by the Government on 24.01.2025, as an option under National Pension System (NPS) with the objective of providing assured monthly payout after retirement to the Central Government employees covered under the NPS.

UPS is defined contribution scheme with elements of defined benefit. It relies on the regular and timely accumulation and investment of applicable contributions (from both the employee and the employer) for assured payout to the employees.

The Old Pension Scheme is a defined benefit non-contributory scheme, fully funded by Government. It is applicable to Central Government employees who have joined the service on or before 31.12.2003 The National Pension System (NPS) is a defined contribution-based scheme with market linked returns for post-retirement benefits. It is applicable to Central Government employees, except armed forces, who have joined the service on or after 01.01.2004

(b) and (c) The regulation of service conditions of State Government employees falls under the administrative domain of respective State Governments.

Madras High Court Sentenced Bank Employee and Wife to 5 years Jail

The Madurai Bench of the Madras High Court has sentenced five people, including former officials of the Debt Recovery Tribunal (DRT), Madurai, and a bank manager, to five years of rigorous imprisonment (RI) and a total fine of ₹27 lakh.

Who Are the Convicted People?

The people sentenced by the court are:

1. Shri S. Kasimayan – Former Recovery Officer at DRT, Madurai.
2. Shri Selvaraj – Former Upper Division Clerk (UDC) at DRT, Madurai.
3. Shri N. Venkeeshwaran – Former Branch Manager of Dhanalakshmi Bank, Madurai.
4. Shri R. Rajesh Kannan – A private individual.
5. Smt. R. Anitha – Wife of Shri Selvaraj (the accused UDC of DRT, Madurai).

What Was the Crime?

The CBI (Central Bureau of Investigation) filed a case on March 30, 2009, against these individuals. It was found that in 2008, Shri S. Kasimayan, who was the Recovery Officer at DRT, fraudulently lowered the “Upset Price” of properties (the minimum price at which a property can be sold in an auction).

These five people conspired together to fix property prices much lower than the actual market value, causing a financial loss to the bank and the property owner. Meanwhile, they gained an unfair financial advantage for themselves.

Court Decisions Over the Years

1. CBI filed a chargesheet on June 6, 2011, after completing its investigation.
2. Trial Court Decision (December 7, 2016): The Trial Court acquitted all the accused, meaning they were found not guilty at that time.
3. CBI Appeals: CBI was not satisfied with the acquittal and filed an appeal against this decision.
4. High Court’s Decision: The Madurai Bench of the Madras High Court reviewed the case and overturned the acquittal, sentencing all five accused to five years of rigorous imprisonment (RI) and fines:
   • Shri S. Kasimayan and Shri N. Venkeeshwaran – ₹6 lakh each
   • Shri Selvaraj, Shri R. Rajesh Kannan, and Smt. R. Anitha – ₹5 lakh each

Latest Development – Supreme Court’s Decision

One of the accused went to the Supreme Court for relief. On March 27, 2025, the Supreme Court allowed the High Court to continue with the sentencing but ruled that the punishment will remain suspended for three weeks.

Following this direction, the Madurai Bench of the Madras High Court has suspended the sentence for now.

Bank Employees attacked in Maharashtra for not speaking Marathi

Disturbing events have been reported from Maharashtra where Bank Employees have been beaten for not speaking Marathi. 

Pune: Bank Employee beaten by MNS Workers for not speaking Marathi in Lonavala.

Bank Employee and His Wife missing in Jabalpur, Wife accused of Harassment

Anand Dubey, who works in a private bank in Jabalpur, and his wife Nibha have mysteriously gone missing. This came to light after Anand’s brother-in-law, Vinod, filed a complaint at the Aadhartal police station. Following the complaint, the police started investigating the case.

According to the family, Anand had been under a lot of stress since his marriage. There were frequent arguments between him and his wife, which made the situation tense. His family members tried several times to help them resolve their issues, but nothing worked.

Anand belongs to Kushli village in the Katangi police station area, and his wife Nibha is from the same place. Recently, Anand recorded a video in which he appeared very upset and accused his wife of harassing him.

In this four-minute-long video, Anand is seen crying and expressing his pain while sitting on the back of a bike. He says that he loves his wife very much, but she often fights with him over small issues. He also claims that she frequently records videos of him and threatens to falsely accuse him. At the beginning of the video, Anand also mentions that not only women but men too can be victims of domestic violence.

After this video went viral, his wife Nibha also went missing. Police station in-charge Rajkumar Khatik said that a missing person’s report has been filed. The police are now trying to find out whether Anand turned off his phone by himself or if something bad has happened to him. A police team is actively searching for both of them.

Nine Personal Finance Rules We all Must Know

Government announced New Transfer Policy for Public Sector Bank Employees

The Government of India has approved a new transfer policy for Public Sector Bank Employees. This new policy will be applicable from 1st April 2025. All Banks will have to follow the below guidelines:

New Transfer Policy for Public Sector Bank Employees

• 1. Rotational transfers should be based on seniority.
• 2. Online platform will be developed for the transfer process, allowing employees to choose location preferences.
• 3. Officers up to Scale-III should be accommodated in their respective linguistic regions.
• 4. Additional grounds for transfer should be included – such as marriage, spouse, medical needs, maternity, child care, and distant postings.
• 5. Efforts should be made to post employees in the same or nearby regions if their spouse works in Central or State Governments.
• 6. Women employees should be transferred to nearby locations.
• 7. Employees can appeal against unfair transfer. A grievance committee should be formed and appeals should be resolved within 15 days. Appeals should be dealt with kindly and committee should try to resolve the issue and proper reason should be given in writing.
• 8. Transfer protection may not be given to office bearers of unions on
• 
  

  The Government of India has approved a new transfer policy for Public Sector Bank Employees. This new policy will be applicable from 1st April 2025. All Banks will have to follow the below guidelines:

  New Transfer Policy for Public Sector Bank Employees

  • 1. Rotational transfers should be based on seniority.
  • 2. Online platform will be developed for the transfer process, allowing employees to choose location preferences.
  • 3. Officers up to Scale-III should be accommodated in their respective linguistic regions.
  • 4. Additional grounds for transfer should be included – such as marriage, spouse, medical needs, maternity, child care, and distant postings.
  • 5. Efforts should be made to post employees in the same or nearby regions if their spouse works in Central or State Governments.
  • 6. Women employees should be transferred to nearby locations.
  • 7. Employees can appeal against unfair transfer. A grievance committee should be formed and appeals should be resolved within 15 days. Appeals should be dealt with kindly and committee should try to resolve the issue and proper reason should be given in writing.
  • 8. Transfer protection may not be given to office bearers of unions on promotion.

  ---

  Public Sector Bank New Transfer Policy: The Government of India has introduced a new Transfer Policy for Public Sector Bank Employees. The Department of Financial Services under Ministry of Finance has released a circular regarding new transfer policy of PSU Bank Staff. The Government Bank Employees have been complaining for quite a long time regarding the unfair transfer policy prevailing in the banks. The DFS has mentioned in its circular that the reason for the introduction of this new transfer policy is – complaints.

  The DFS has said that it received a lot a complaints regarding the transfer policy in PSBs via various modes and thus, the new transfer policy for Public Sector Bank Employees was introduced. We have also created a video on New Transfer Policy of Bank Staff. You can watch video and understand policy in an easy way. You can also download PDF of New Transfer Policy for Public Sector Bank Employees via link given below.

  New Transfer Policy for Public Sector Bank Employees: Government instructions

  • Administrative Layers: Banks must define the hierarchy of administrative layers, such as Region, Zone, Circle, and FGMO (Field General Manager’s Office). For each layer, minimum and maximum tenure durations should be clearly specified to ensure consistency in employee placements and career progression.
  • Transfer Timelines: Banks should establish a strict timeline for conducting transfer exercises, aiming to complete all transfers before June each year. Mid-year transfers should be minimized and limited to situations involving promotions or critical administrative requirements.
  • Transparency in Transfers: Banks should ensure transparency by annually publishing seniority lists and existing/expected vacancies. Rotational transfers should be based on seniority, with exceptions documented.
  • Automation of Transfer Process: Banks should develop an online platform for the transfer process, allowing employees to express location preferences. The portal should include transfer policies, guidelines, seniority lists, and vacancy details.
  • Regional Accommodation: To improve customer service, banks should aim to place officers (up to Scale-III) within their linguistic regions, wherever feasible. This would ensure better communication with customers while balancing vacancies and administrative needs.
  • Difficult Areas Designation: Certain regions should be officially designated as Difficult Areas, recognizing the challenges faced by employees posted there. Employees completing their tenure in these regions should be prioritized for transfers to preferred or less-demanding locations.
  • Incorporation of Additional Grounds: Banks should include additional grounds for transfer such as marriage, spouse, medical needs, maternity, child care, and distant postings.
  • Spouse Employment Consideration: Efforts should be made to place employees in the same or nearby region as their spouse if the latter is employed with the Central or State Governments. This helps maintain work-life balance and family unity.
  • Women Employees’ Transfers: Banks should transfer women employees to nearby locations whenever possible, ensuring their safety and access to basic amenities in remote postings.
  • Grievance Handling: Grievances arising from perceived violations of the transfer policy must be addressed thoroughly. Banks should ensure that grievances undergo detailed deliberations, with responses properly documented to maintain transparency and accountability.
  • Appeals Committee: A dedicated Appeals Committee should be established to review transfer-related appeals. This committee must resolve appeals within 15 days to avoid prolonged delays and employee dissatisfaction.
  • Transfer Protection for Office Bearers: Banks should clearly define the position, tenure, and applicability of transfer protection for office bearers of Associations/Unions. Transfer protection may not be provided to office bearers upon promotion.

Govt has put Bank Privatisation Proposal on Hold

As per the sources, the central government has put on hold its plan to privatise two public-sector banks (PSBs). Recently, the Government of India had announced to privatise some public sector banks. But now the plan has been postponed as the PSU Banks are now profitable and have reported a robust performance. The main reasons for the postponement of Bank Privatisation are – Strong Protest from Bank Unions and Public Trust in PSU Banks.

In recent years, PSBs have reported strong financial growth, even outperforming some private banks. Their combined net profit surged to ₹1.41 lakh crore in 2023-24, up from ₹1.05 lakh crore in 2022-23.

Experts had anticipated that the government would proceed with privatisation process of PSU Banks after the completion of the general elections in May 2024. But this did not happen. Finance Minister Nirmala Sitharaman had initially announced plans to privatise two PSBs in the Union Budget for 2021-22, aligning with the new Public Sector Enterprise (PSE) policy, which aimed to limit the number of public-sector players in strategic sectors to four. The decision was also intended to boost competition in the banking sector and drive overall growth.

However, the government has yet to finalise the necessary amendments to key laws, including the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980 and the Banking Regulation Act of 1949, which are required to facilitate privatisation.

Why is the Government not privatizing PSU Banks?

It’s not so easy for the Government to privatize PSU Banks. These are very big banks and are crucial for the growth of the Indian Economy. Moreover, people trust public-sector banks in India. After the failure of YES Bank and recent negative news about IndusInd Bank, there might be a change in the thinking of the government and senior officials. Through the public sector banks, the government has direct control over various parameters of the economy. Moreover, the government has connected the common public with these public sector banks via various government-sponsored schemes. Private Sector Banks focus mainly on generating profit and there is also fear that these banks might not pay so much interest in promoting government schemes.

Apart from this, the privatization proposal has faced strong opposition from bank unions and employees. Unions argue that PSU Banks play a crucial role in nation-building by channeling public savings into priority sectors such as agriculture. These banks are the reason behind the rapid economic development of India. Bank Unions have threatened strikes against privatization. This ongoing resistance is seen as a key reason behind the government’s hesitation to move forward with its privatisation plans.

IDBI Bank Privatisation

The privatisation of IDBI Bank remains a contentious issue. There are reports that the privatisation of IDBI Bank is under process. According to DIPAM Secretary Arunish Chawla, the divestment process is expected to be completed within three months. Meanwhile, the employees are protesting against this privatisation. MP Supriya Sule has opposed further divestment, arguing that the bank is profitable. Leader of Opposition Rahul Gandhi recently met with IDBI employees to discuss their concerns. The government and LIC are jointly selling a 61% stake in IDBI Bank, with the Centre holding 30.48% and LIC 30.24%.

Bank Mitra Sentenced to Three Years in Jail for Embezzling ₹7 Lakh

A Bank Mitra working under Punjab National Bank (PNB) in Aliganj has been sentenced to three years in jail and fined ₹10,000 for misappropriating customers’ 

What Happened?

Chaitanya Babu Saxena, a resident of Gaini village in the Aliganj police station area, was employed as a Bank Mitra at the PNB branch in Gaini. His job was to help customers with banking transactions. However, instead of depositing ₹7,06,000 into the customers’ accounts, he kept the money for himself and issued fake receipts.

The fraud came to light when customers tried to withdraw their money and found that the funds were never deposited in their accounts. Upon realizing the fraud, the affected customers filed a complaint, and a case was registered against Saxena.

Legal Proceedings and Court Verdict

The case continued for five years in court. After reviewing all the evidence, the Judicial Magistrate Second Court in Amla, under Judge Vidisha Bhushan, found Saxena guilty of embezzlement. As a result, he was sentenced to three years in prison and fined ₹10,000.

Prosecution officer Ravi Prakash Mishra stated that strong evidence and testimonies from 17 affected customers played a crucial role in securing justice. The prolonged legal battle finally ended with a judgment that ensured accountability.