Da fof bankers decrease 1.23% from May 2025

Today March price index  declared by govt.

Bank employee DA DECREASE  1.23%

TOTAL DA 19.97% From May to July 2025

Details chart will be uploaded very soon 

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Updation regarding 5 days Banking and UNIFORM PLI SCHEME

URGES FOR RESTORATION OF OLD PENSION SCHEME!

CITU DENOUNCES UNIFIED PENSION SCHEME!

ANOTHER DUBIOUS DESPERATE EFFORT DECEIVING EMPLOYEES!

URGES FOR RESTORATION OF OLD PENSION SCHEME!

Centre of Indian Trade Unions (CITU) denounces the Unified Pension Scheme (UPS) approved by Union Cabinet on 24.8.2024 as another dubious desperate effort to deceive the Govt employees of their due full right to Old Pension Scheme known as OPS. 

CITU urges for restoration of old Pension Scheme.

The Old Pension Scheme was non-contributory and with assured pension existing as per Central Civil Service Rules 1972 now 2021. A. B. Vajpayee led NDA Govt had introduced the National Pension Scheme (NPS) in 2004 surreptitiously through an Executive Order for those recruited from 1.1.20O4. 

The central and state Govt employees and central trade unions opposed it from that day and were on path of struggles against it urging for restoration of OPS. The Pension Fund Regulatory & Development Authority Act 2013 notified in February 2014 enabled statutory basis for the NPS.

The unprecedented struggles by the Govt Employees for restoration of Old Pension Scheme(OPS) and the whole hearted support rendered to such struggles by the Joint Platform of Central Trade Unions and Federations could compel the arrogant BJP regime to shift from its arrogant stance of sticking to NPS, but the package offered by it in the name of so called UPS reflects the same deceptive ploy of depriving the Govt employees of their legitimate dues on account of pension.  

Several State Govts also reverted back to the OPS and were urging for their share of state govt Employees contribution to PFRDA to be refunded to their State Govts. Modi Govt had rejected all of such requests of State Govts which reverted back to OPS. It was countered by the relentless struggles of employees and trade Unions. Hence this dubious attempt of deceptive UPS is made by Modi led ND Alliance Govt. The Finance Secretary T. V. Somanathan Committee recommendations to study modifications in NPS, which was also boycotted by several Employees federations, are used for this desperate attempt of UPS - a cocktail of NPS and truncated OPS is approved by the Union cabinet.

The Modi led ND Govt with its neo liberal pursuit of safeguarding the interests of speculative crony capital has come with this UPS with some modification of benefits with additional contribution of 4.5% from the Govt only to further its investment of pension funds of Rs. 10,53,850 crores called Asset under Management (AUM) of total 99,77,165 employees under NPS as on by 31.7.2024 in the share market.

The previous Andhra Pradesh State Govt had proposed similar or somewhat better than UPS in place of NPS in the name of Guaranteed Pension Scheme (GPS) with 50% of last drawn pay as pension for minimum 10 years of service with defined contribution and purchase of 40% annuity, which was correctly rejected by all the State Govt employees of AP urging for nothing short of OPS. 

Now the Union Govt has come with similar rather less beneficial scheme with some modifications in NPS which should are also aptly rejected by vast majority of the employees urging for nothing less than OPS.         

UPS is based on the continuity of 10% contributions by the employees with the Government contribution increased to 18.5% from present 14%. 

While in NPS the subscriber can take 60% and has to invest 40% in an annuity and get pension, under UPS entire pension wealth will have to be foregone to the government. 

In lieu of which government will give 10% of the employee emoluments i.e., basic pay plus DA for every completed six months of service. For 25 years of completed service the employee will get 5 months emoluments and for 10 years of service will get 2 months of pay on retirement as benefit in addition to gratuity.

In UPS, employee will get 50% of 12 months average basic pay as pension on normal retirement at the age of 60 with the completion of 25 years of service, effective from 1-4-2025 that is for those retiring on 31-3-2025 but not applicable to those retired before it. In OPS for 10 years of service 50% of last month's pay is pension and for voluntary retirement after 20 years of service employee gets 50% of pay as pension.

Employees with service less than 25 years will get proportionately lesser pension in UPS. Employee with 20 years of service will get only 40% of 12 months average basic pay as pension. For 10 years of service employees will get only 20% of average basic pay as pension. In case of proportionate pension for less than 25 years up to 10 years a minimum pension of Rs 10,000 is proposed by government.

 While Minimum pension in OPS is Rs 9000 plus DA (which as on 1-4-2025 will be 57% that is Rs. 5130) so minimum pension as on 1-4-2025 will be Rs.14,130. Hence the proposed Rs.10000 pension is half of that of OPS. For less than 10 years of service at the time of superannuation employee is not eligible for any pension

Under UPS family pension is 60% of pension i.e., 60% of 50%. It means 30% of last pay for 25 years of service at the time of superannuation.  For employee with minimum pension of rupees 10,000 it will be 60% of it, i.e., Rs 6000. Minimum pension of rupees Rs 10000 applies only to superannuation and not for family pension. But under OPS family pension is 50% of last pay if the pensioner dies before 7 years after retirement or before 67 years of age. There after family pension will be 30% of last pay. Minimum pension as on 1-4-2025 will be Rs.14130. But in UPS minimum family pension will be only Rs 6000.

DA/DR will be given to assured pension or minimum pension or family pension based on the Consumer price index as in the case of serving employees. Whether they will start a new base index from 1-4-2025 or they will grant the same percentage of DA/DR as for serving and OPS pensioners are not yet spelt out. In OPS if the pensioner or family pensioner completed 80 years of age additional pension of 20%, for 85 years 30%, for 90 years 40%, 95 years 50% and 100 years 100% is given with Same DA for additional pension also. In UPS this additional pension is not available. 

In OPS pension/family pension/minimum pension is revised whenever pay commission is implemented while there is no such assurance under UPS. Commutation of pension i.e., withdrawal of 40% pension in advance available in OPS is not available in UPS. For those employees who die or become invalid becoming all class unfit in NPS, OPS is applicable to them already. Employees can opt to UPS or NPS, once opted will be final.

There may be many more shortcomings in UPS which may be known after the full text of UPS is notified. 

Hence the CITU denounces the UPS and urges the Union Govt to restore the non-contributory defined assured Old Pension Scheme.  CITU calls for extending full support to the Govt employees struggle for restoration of OPS. 

Issued by,

Tapan Sen

General Secretary

UCO Bank planning to Reduce Government Stake, Will Bank be privatised?

UCO Bank – one of the public sector banks in India is planning to reduce government stake. This has again raised concerns of privatisation. UCO Bank is planning to reduce government stake from 90.95% to 75%.

 In January, the Indian government approved a ₹10,000 crore fundraising plan for five public sector banks (PSBs). The government’s excess stake in these banks, based on current market prices, is estimated to be worth nearly ₹50,000 crore. The fundraising will be carried out through the Qualified Institutional Placement (QIP) route. The five banks selected for this initiative include

• Central Bank of India
• Bank of Maharashtra
• Indian Overseas Bank (IOB)
• Punjab & Sind Bank
• UCO Bank

As of December 2024, the Indian government holds a majority stake in these five banks. The shareholding details are as follows

• Bank of Maharashtra: 79.6%
• Punjab & Sind Bank: 98.25%
• Indian Overseas Bank (IOB): 96.38%
• UCO Bank: 95.39% (now 90.95%)
• Central Bank of India: 93.08%

UCO Bank has announced plans to issue up to 270 crore new equity shares in the 2025–26 financial year. This move aims to reduce the government’s ownership in the bank to 75%, aligning with the Securities and Exchange Board of India’s (SEBI) minimum public shareholding norms.

The decision follows a successful Qualified Institutional Placement (QIP) in March 2025, where the bank raised ₹2,000 crore. This capital infusion decreased the government’s stake from 95.39% to 90.95%. The upcoming share issuance is expected to further dilute the government’s holding to the targeted 75%.

Based on the current market price of approximately ₹31 per share, the new issue could be valued at around ₹8,000 crore. The bank’s Managing Director and CEO, Ashwani Kumar, stated that this strategic move will not only comply with regulatory requirements but also strengthen the bank’s capital base.

Karnataka CID filed Chargesheet against BJP MLA Ramesh Jarkiholi in Rs.439 Crore Bank Fraud Case

The Karnataka Crime Investigation Department (CID) has filed a chargesheet in a Bengaluru court against BJP MLA and former minister Ramesh Jarkiholi, along with others, for allegedly cheating Karnataka Cooperative Apex Bank and several district cooperative banks. The total amount involved, including the loan principal and interest, is around ₹439 crore.

How the Case Started

In January last year, the General Manager of Karnataka Cooperative Apex Bank filed a police complaint. He alleged that Soubhagya Laxmi Sugars Ltd, a company based in Gokak and chaired by Ramesh Jarkiholi, along with two directors — Vasant V Patil and Shankar A Pawade — borrowed ₹232 crore from the bank and other lenders. These loans were taken between July 2013 and March 2017.

However, the complaint stated that the company did not follow the conditions of the loan agreement. One important condition was that the company’s board of directors could not be changed until the loan was fully repaid. Despite this, the accused reportedly appointed new people to the board, which the bank believes was done with the intention to cheat.

Court Proceedings and Chargesheet

After the police complaint, Jarkiholi and the others approached the Karnataka High Court to try and get the FIR (First Information Report) cancelled. However, the High Court rejected their request. Following this, the CID continued its investigation and filed a detailed chargesheet on April 22.

Repayment and Further Investigation

Interestingly, before the chargesheet was filed, Ramesh Jarkiholi repaid ₹120 crore to the bank. The CID confirmed that the bank informed them about this repayment. However, officials said that their investigation is still ongoing, and they plan to file a supplementary chargesheet once they complete the remaining inquiries.

5 days banking update as on 25.04.2025 meeting

IBA TALKED WITH UFBU FOR RESIDUAL ISSUES

1966to 2024 pay scales of substaff/clerks

IBA INVITE UFBU FOR MEETING

RBI officers secure a massive 40% + avg salary hike.*

*RBI officers secure a massive 40% +  avg salary hike.*

*W/o years of  hardships, Negotiations Naitanki नौटंकी by many dozens  of iba bank officials & union leaders .*

*Starting basic pay  from ₹44,500 to ₹62,500 for Grade A officer.*

Can Bank Employees Expect a 5-Day Workweek From FY26

EVERYTHING BANKING NEWS FOR LATEST BANKING NEWS

Bank Fraud Bank of India Employee Booked for illegal transfer of Rs 86 Lakh into his Son’s Account Onl

A 69-year-old retired employee of Bank of India has been accused of illegally transferring Rs 86.75 lakh into his son’s bank account. The alleged transfers took place between the years 2014 and 2016, but the bank filed a complaint almost ten years later.

The man, Deepak Shriram Kaley, was working as an officer in the Transaction Banking Department at the bank’s head office in Bandra Kurla Complex (BKC), Mumbai, during that time. He is accused of transferring the money from an account used for ECS (Electronic Clearing Service) collections into another account named M/s Solutech, which belonged to his son. These transfers were allegedly done without getting approval from senior bank officials.

According to public prosecutor Ramesh Siroya, Kaley carried out these transactions using his personal login ID and password, which only authorized employees are supposed to use.

Kaley’s lawyer claimed that the criminal charge of “breach of trust” does not apply in this situation. However, the police officer investigating the case insisted that Kaley misused his position to divert a large amount of public money.

After hearing both sides, the court said that the accusations are very serious and therefore Kaley should be properly questioned in police custody to uncover more details.

Axis Bank Assistant Manager Arrested in Rs.9 Crore Online Fraud Case

The Economic Offences Wing (EOW) of the Delhi Police has arrested two men in connection with a ₹9 crore fraud involving bank accounts of Larsen & Toubro (L&T) and Shanghai Urban Construction Group (SUCG). One of the accused is an assistant manager at Axis Bank. The arrested men have been identified as:

• Ashish Khandelwal, 32 years old, Assistant Manager at Axis Bank in Delhi.
• Nitin Birmal Dongre, 36 years old, resident of Pune.

How the Fraud Happened

Ashish Khandelwal, who was working at a branch of Axis Bank in Delhi, misused his position and helped in committing the fraud. He shared confidential bank account documents of L&T and SUCG with fraudsters. He also helped change the mobile number and email ID linked to the joint account of the two companies. After that, he assisted in activating internet banking access on the account.

Once the fraudsters got control of the account, they transferred ₹8.94 crore through 94 separate online transactions into different bank accounts across the country.

How the Case Was Discovered

According to Additional Commissioner of Police Amrutha Goguloth, the fraud came to light when Gaurav Sharma, the branch head of Axis Bank’s Adhchini branch, filed a police complaint. He said that the L&T and SUCG joint account was originally opened in January 2008.

But on June 7, 2024, someone claiming to be a company employee requested to change the mobile number and email ID linked to the account. The bank accepted the request based on submitted documents.

Then, in July 2024, an application was submitted to activate internet banking on the same account—and that too was approved. Soon after, the company realized the account was misused and informed the bank, which then approached the police.

How the Police Caught the Accused

During the investigation, police used Call Detail Records (CDR) and tracked the fraud trail to Pune, where one of the accused, Nitin Birmal Dongre, was found. Interestingly, police discovered that Nitin’s wife, Shweta Dongre, was actively shopping online using the stolen money. This clue helped police trace the address.

With help from the Chandan Nagar Police Station in Pune, the EOW team arrested Nitin from Sai Nath Nagar, Pune. Later, based on his inputs, police also arrested the assistant bank manager Ashish Khandelwal from Uttam Nagar in Delhi.

Police believe more people are involved in this fraud. Raids are being carried out in different parts of the country to catch the remaining accused. The phones and accounts involved are under surveillance.

New Tatkal Booking Timings (Effective April 15)

To make booking easier and stop misuse, Indian Railways is bringing big changes to the Tatkal ticket system starting April 15. These changes will help genuine passengers get tickets more easily, especially during busy hours.

Whether you travel often or just once in a while, it’s important to understand the new Tatkal rules before booking your ticket.

New Tatkal Booking Timings (Effective April 15)

Indian Railways has changed the booking time slots for different types of tickets to make the system smoother and reduce long waiting times.

Ticket Type	Old Time	New Time (from April 15)
AC Classes (1A, 2A, 3A, CC)	10:00 AM (1 day before)	11:00 AM (1 day before)
Non-AC Classes (SL, 2S)	11:00 AM (1 day before)	12:00 PM (1 day before)
Premium Tatkal (PT)	10:00 AM (1 day before)	10:30 AM (1 day before)
Current Reservation	4 hours before departure	No change
Agent Bookings	Allowed anytime	Not allowed from 10 AM to 12 PM

Note: Now, agents can’t book tickets during the most crucial two hours (10 AM to 12 PM), giving regular users a better chance to book their tickets.

How to Book Tatkal Tickets (Step-by-Step)

1. Go to www.irctc.co.in or open the IRCTC app
2. Choose your train and class (AC or Non-AC)
3. Select the “Tatkal” quota
4. Fill in passenger details and a valid ID proof number
5. Make the payment to confirm your booking

What’s New in the Tatkal System?

• Passenger details will be auto-filled for registered users to save time
• Payment time increased from 3 minutes to 5 minutes
• Captcha made simpler to speed up the booking
• Same login works for both the app and website
• Maximum of 4 passengers can be booked per Tatkal ticket
• No discounts or concessions allowed under Tatkal quota
• Always carry a valid ID proof when travelling on a Tatkal ticket

Why These Changes Matter

These changes are designed to:

• Make urgent travel easier and fairer
• Stop agents from booking in bulk before regular users
• Speed up the booking process for everyone

If you’re planning to travel using a Tatkal ticket after April 15, keep these new rules in mind to avoid any confusion and improve your chances of getting a ticket.

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.