GOVERNMENT HOLDINGS PUBLIC SECTOR BANK

Rs 2.5 Crore PMJJBY Fraud Busted in Madhya Pradesh, Fake Death Certificates Used for Insurance Claims

A big fraud worth crores of rupees has been uncovered under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) in Madhya Pradesh. According to officials, an organised criminal gang allegedly used fake death certificates to claim insurance money in several districts of the state – Gwalior, Morena, Ratlam.

First then opened Bank accounts, then applied for PMJJBY insurance. After some time, the fraudsters visited banks and informed them about the death of the account holder and applied for insurance claim.

The insurance claim was processed and credited to the bank account of nominees. Here, the fraudsters played the trick. While opening the bank account of individuals, they added their names as nominees.

Once the claims were processed, the money was credited to the accounts of the fraudsters. In this way, the PMJJBY scheme was misused on a large scale. The scheme provides insurance coverage of ₹2 lakh per individual. Therefore, if fraud was committed in 10 accounts, the fraudsters could easily earn ₹20 lakh. However, the fraud was carried out on a much larger scale involving around 250 accounts.

Now is the time to say Bid Adiue to my vibrant and marvelous Team Ultadanga

Now is the time to say Bid Adiue to my vibrant and marvelous Team Ultadanga. I think this is my best team whome I spent last three years.Tanmoy, Priyanka, Trijita, Swatilekha, Santu, Parimalda and Balai da everyone is excellent  from their own corner. I never forget all of you for your behaviour and great supoort. As on day Ultadanga branch is pioneer for customer service it is only all of your good support and service.I also conveyed my sincere thanks to Subhojit and Barin da for  their good support last three years.

Having lots of good memories with the team and my dear & respected customers last three years. Long Journey at the ultadanga ends here. Definitely I shall miss you all and pray Almighty to meet you again. I convey my sincere thanks from

the core of my heart to each and every near and dear one who made my journey more remarkable and smoothly. Also convey my respect with folded hands to my senior authorities to choose me for new assignment at VIP Road Branch.

25th and 26th May Bank Strike

All India Bank Employees' Association extends its solidarity and fraternal support for the two-day strike at State Bank of India called by the All India State Bank of India Staff Federation

#AIBEA 

#AISBISF

#SBI

 

DA CHART FOR BANKER FROM MAY 2026

DA FOR BANKER INCREASE FROM MAY 2026 is .70%

Bankers DA Calculator - May'26 to Jul'26

On 30.04.26 Govt declared CPI for the month of Mar'26 as 149.10 with an increase of 0.60 points from the previous month i.e. Feb'26. . Bankers DA calculator is updated hereunder on the basis of CPI for the month of Jan'26 to Mar'26. Earlier the Govt vide their notification dated 22.10.20 (click to view the letter) has changed the Consumer Price base year from 2001=100 to 2016=100 for Industrial Workers.

Calculate your DA on the basis of CPI data announced by the Govt for the months of Jan'26 to Mar'26. DA payable for the period May'26 to Jul'26 is 25.70% as per 12^th BPS

DA from 01 May for Banker increased by 0.70%

DA from 01 May for working Bank employees increased by 0.70% based on CPI (IW) released now. New DA 25.70%

Details chart will be uploaded soon

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Profit per employee -- Indian Banks Fzy 25

Updation of Pension: Our next Final Hearing Date in

Updation of Pension:

Our next Final Hearing Date in S.C, when is a perplexing & moot question? 

It is learnt that DFS has told the Supreme Court to abide by the Supreme Court verdict  & implement. They smell the verdict & hence has issued their circular recently on 20thApril to SBI & all PSBs to take immediate steps for making respective amendments in BEPR   soon relating to 12th BPS before the start of 13 th BPS/ 10th Jt Note wef 01.11.2027. It is a welcome decision. Now they can not deny Updation & prolong the case. In view of the above, 

The IBA/DFS may request at least 3 to 4 months time to implement updation of Pension by bringing Amendments in BEPR, Gazette it, which will have only statutory backing. 

Then only we shall have permanent remedy. They have  specified 3  to 4 months definte time to complete the exercise but said before start of commencement of wage negotiations on 01.11.2027.

We have to see whether the Court will accept their  plea or Order for implementing  the same immediately. IBA must bring Amendments to BEPR soon. It is why they have given Ex-gratia upto 2027, well planned, UFBU also duly accepted it without any question. 

We must demand  Updation of Pension soon after the verdict with retrospective effect with 9℅ interest since our demand is legally susceptible and a valid one without any delay. They can not delay the processes further. 

Let us Hope & pray God. 

S. Ganapathy

Forwarded as received

Rupam Roy Raises 5-Day Banking and PLI Discrimination issues

Rupam Roy Raises 5-Day Banking and PLI Discrimination issues at AIBEA 30th National Conference

Subscribe Channel and Watch More: https://youtu.be/HHhfAhVZYug?si=3EstTLwD7oEjlx29

AIBOC General Secretary, Rupam Roy highlighted key concerns during his address at the All India Bank Employees Association (AIBEA) 30th National Conference in Bengaluru, including the demand for 5-day banking, discussions with the government on working conditions, and the impact of PLI discrimination on bank officers. He also raised the issue of pension updation, stressing the need for policy clarity and fair implementation across public sector banks (PSBs).

#AIBOC #concern #NationalConference #bengaluru

 

Bank Employee hanged himself, Fight with Girlfriend suspected as Reason

A bank employee has committed suicide by hanging himself in Matiyari’s Astha Nagar, located in Lucknow’s Chinhat police station area.

As per reports, he allegedly took this step while on a video call with his girlfriend. Akarsh Mishra was just 26 years old and originally belonged to Belsar village in the Pakolia police station area of Basti district. He was working in a bank in Lucknow and was living as a tenant in Astha Nagar Colony, Matiyari.

It is reported that Akarsh went to his room after dinner on Tuesday night. On Wednesday morning, his friends Sameer, Anurag, and Sandeep went to call him, but found the door locked from inside. When they received no response despite calling repeatedly, they became suspicious and broke the door.

Upon entering the room, they found Akarsh hanging from the ceiling fan with a scarf tied around his neck. They immediately brought him down and rushed him to the nearby Chandan Hospital, where doctors declared him dead.

According to the police, the deceased’s father has alleged that Akarsh was friends with a young woman from Barabanki. Around 10 p.m. on Tuesday night, they had an argument over something. It is alleged that during this time, Akarsh hanged himself while on a video call. The woman herself has called one of his friends and informed about the adverse incident.

Upon receiving the information, police arrived at the scene and began an investigation. More details will be released soon.

13th BIPARTITE SETTLEMENT OF BANK EMPLOYEE

UFBU STAGES PROTEST OVER 5 DAYS BANKING

Stop Cheating with Bank retirees

Meeting with Iba and UFBU will be held on 15th April

EXPECTED DA FOR BANK EMPLOYEE FROM MAY 2026

Expected DA Calculation Updated on 30.03.26 on the basis of CPI for the month of Feb'26 with the assumptions of Mar'26. The CPI for the month of Feb'26 announced on 30.03.26 as 148.5 with a decrease of 0.10 points from Jan'26. (as per revised base year 2016) (The base year was changed from Oct 2020)

1. Keeping in view of recent CPI announced , we may assume there would be an increase in CPI index by 0.90 points in the next month. Accordingly, on this assumption, we may expect there would be an increase of 0.80% DA in terms of 12^th BPS on revised pay. Total 25.8% DA will become payable from May'26.
2. On assumptions if there is an increase in CPI index by 0.60 points in the next month, we may expect there would be be an increase of 0.70% DA in terms of 12^th BPS on revised pay. Total 25.70 percentage of DA will become payable from May'26.
3. On assumptions if there is an increase in CPI index by 0.50 points in the next both month, we may expect there would be be an increase of 0.67% DA in terms of 12^th BPS on revised pay. Total 25.67 percentage of DA will become payable from May'26.

CBI Arrests SBI Assistant Manager in Rs.16,000 Bribery Case in Assam

The Central Bureau of Investigation (CBI) has arrested an Assistant Manager of State Bank of India (SBI) in a bribery case in Assam. The bank officer was caught while allegedly demanding and accepting a bribe of ₹16,000 from a complainant.

According to the CBI, the accused officer was working as an Assistant Manager and Loan Officer at SBI’s Gumi Branch in Kamrup (Rural) district of Assam

Bank employees can face arrest if they are involved in corruption, fraud, forgery, or misuse of their official position. Various laws in India allow investigative agencies to take action against such offences.

 Prevention of Corruption Act, 1988

Bank officials who demand or accept bribes, misuse their position, or obtain illegal benefits can be booked under the Prevention of Corruption Act. This law is commonly used in cases investigated by the CBI.

IPC Section 420 – Cheating

This section applies when a bank employee dishonestly cheats a customer, bank, or financial institution to gain money or benefits.

 IPC Section 409 – Criminal Breach of Trust

If a bank officer misuses or illegally transfers funds entrusted to them, they can be charged under this section for breach of trust.

 IPC Section 468 – Forgery for Cheating

This section is used when fake documents, forged signatures, or fabricated records are used to approve loans or financial transactions.

 IPC Section 471 – Using Forged Documents

If a bank staff member knowingly uses forged documents as genuine, they can face action under this section.

Case Registered After Complaint

The CBI registered the case on 12 March 2026 after receiving a complaint against the bank officer. The complainant alleged that the officer had demanded a bribe of ₹16,000 in return for processing loan applications.

These loan applications were related to customers seeking loans for the installation of rooftop solar electrification systems.

CBI Trap and Arrest

After verifying the complaint, the CBI set up a trap operation. During the operation, the accused officer was caught red-handed while demanding and accepting the bribe amount of ₹16,000 from the complainant

Delhi Court Convicts MP Congress MLA Rajendra Bharti in Bank Fraud and Forgery Case

A Delhi court on Wednesday convicted Madhya Pradesh Congress MLA Rajendra Bharti in a corruption case. The case involves forgery of bank records and cheating a cooperative bank through a fixed deposit scheme.

Rajendra Bharti is a three-time MLA from the Datia constituency in Madhya Pradesh. He is also a senior leader of the Indian National Congress. He was facing trial in this cheating case.

The court said that Bharti was part of a criminal conspiracy. This conspiracy allowed illegal withdrawal of interest from the bank for more than 10 years.

Justice Dig Vinay Singh, Special Judge under the Prevention of Corruption Act at Rouse Avenue Courts, said that the evidence clearly shows Bharti’s role. The judge noted that Bharti was linked to both the beneficiary trust and the bank.

The court said that Bharti was a trustee of the beneficiary trust. At the same time, he was also the chairperson of the bank when the fraud happened. Because of this, the court concluded that he was part of the conspiracy.

The case was earlier being heard in Madhya Pradesh. Later, it was transferred to Delhi by the Supreme Court after Bharti requested it.

The case is related to a fixed deposit of ₹10 lakh made in 1998. The deposit was made in Zila Sahkari Krishi Gramin Vikas Bank in the name of a trust called Shri Shyam Sunder Shyam Jan Sahyog Evam Samajik Vikas Sansthan.

The prosecution said that the deposit was originally for three years. However, bank records were later changed to show that it was extended to 10 years and then to 15 years.

SBI Allahabad Manager sent to 5 years Jail in Fake Home Loan Scam Case

A CBI court in Lucknow has sentenced two people, including a former branch manager of State Bank of India (SBI), to five years in prison in a bank fraud case. The court has also imposed a total fine of ₹13 lakh.

The convicted persons are Ashok Kumar Dixit, former Branch Manager of SBI, Colonelganj Branch in Allahabad, and Govind Ram Tiwari, proprietor of M/s G.R. Associates, Allahabad.

According to the Central Bureau of Investigation (CBI), the case was registered on May 31, 2005, based on source information against Ashok Kumar Dixit.

The investigation revealed that during 2003–2004, Dixit entered into a criminal conspiracy with Govind Ram Tiwari. They worked together to fraudulently sanction and disburse 36 housing loans

These loans were given using fake and false documents provided by Tiwari. The total loan amount was ₹1,69,45,000.

Due to this fraud, the bank suffered a loss of ₹1,81,85,500. The accused also gained wrongful benefits from the scam.

After completing the investigation, the CBI filed a charge sheet on August 8, 2007, against the accused persons.

After the trial, the court found both accused guilty and sentenced them to five years of imprisonment along with a total fine of ₹13 lakh.

Why MP Govt banned Bank of Baroda? Read what Bank said

 Bank of Baroda has issued an official clarification regarding a news report about the ban imposed by the Madhya Pradesh Government on the Bank.

The bank shared that the issue started on March 26, 2026, when one of its branches received an email requesting the transfer of funds from a savings account of the MP Government to another government account. However, there was a mismatch between the requested amount and the available balance in the account.

Later the same day, the branch received another email with a revised amount, but this request did not include any official letter.

On March 27, 2026, the branch received another email along with an official letter from the State Government department asking for the transfer. However, the branch was closed due to the Ram Navami holiday. After making the required arrangements and approvals, the bank completed the transfer on the same day in four different parts (tranches).

On the same day, the Commissioner of DIF, Bhopal, issued a letter temporarily stopping Bank of Baroda from handling government business.

According to the official order, the bank failed to follow government instructions related to the Chief Minister Kisan Yojana funds. An amount of about ₹1751 crore was supposed to be deposited under a specific government receipt head. However, the bank did not comply with these instructions. Due to this failure, the government said it suffered serious financial and administrative loss. Thus, the state government decided to stop Bank of Baroda from doing any government-related financial work for five years.

The bank quickly responded. On March 28, 2026, its zonal office submitted a written explanation to the concerned department. Later that same day, the Commissioner issued another letter cancelling the earlier order with immediate effect.

The bank clarified that since the restriction was removed within 24 hours, it did not disclose the matter to stock exchanges. It also confirmed that there was no financial or operational impact on the bank.

AIBOC has filed a writ petition in Delhi High Court against the new PLI scheme

AIBOC has filed a writ petition in Delhi High Court against the new PLI scheme for banks introduced by the Government of India. The petition has been filed under Articles 226 and 227 of the Constitution of India. It challenges certain actions related to the Performance Linked Incentive (PLI) scheme. According to the notice, the case will be listed for hearing on 30 March 2026 at 10:30 AM, or shortly after that, depending on the court’s schedule. The petitioners are being represented by a team of lawyers, including Rajiv Agarwal, Meghna De, L. Gangmei, and N. Bhushan.

The petition has been filed by AIBOC, AIBEA and NCBE. UFBU has 9 constituents – AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW, NOBO. Out of 9, only three unions have filed the petition against the new PLI scheme.

Important Points of Writ Petition

• The writ petition has been filed against the new PLI scheme dated 19.11.2024 in violation of Bipartite Settlement dated 08.03.2024.
• The impugned PLI Scheme is arbitrary, discriminatory, and violative of Article 14, 16, and 21 of the Constitution of India.
• The matter is pending with CLC, still the Government has asked banks to credit PLI to senior executives.
• A PLI agreement was signed in Bipartite Settlement for all officers – Scale I to Scale VII but the PLI has been modified unilaterally
• During the signing of Bipartite Settlement, it was decided that the PLI scheme introduced under the 11th Bipartite Settlement and the 8th Joint Note dated 11.11.2020 will continue. But the Government ignored this settlement.
• Petitioners have request court to issue a writ of certiorari or a writ of similar nature quashing the new PLI scheme till the conclusion of the conciliation proceedings and issue a writ of mandamus or a writ of similar nature directing Govt to maintain status quo and pass order in favour of petitioners

PLI in PSU A 90s failed model -pushed in 2026 ,

A 90s failed model -pushed in 2026 ,

Many companies have already dropped it due to forced exclusion.

Now the division is clear: Even among Executives,

Top 20% get 100%

Bottom 20% get 0%

Flash strike is inevitable to save PSBs from these clowns.

#UFBU #plidiscrimination

EXPECTED DA FOR BANKER FROM MAY 2026 -WE WILL UPDATE AGAIN ON 30.03.2026

Expected DA Calculation Updated on 27.02.26 on the basis of CPI for the month of Jan'26 with the assumptions of CPI for Feb. & Mar'26. The CPI for the month of Jan'26 announced on 27.02.26 as 148.6 with an increase of 0.40 points from Dec'25. (as per revised base year 2016) (The base year was changed from Oct 2020)

1. Keeping in view of recent CPI announced , we may assume there would be an increase in CPI index by 0.50 points in the next both months. Accordingly, on this assumption, we may expect there would be an increase of 1.07% DA in terms of 12^th BPS on revised pay. Total 26.07% DA will become payable from May'26.
2. On assumptions if there is an increase in CPI index by 0.40 points in the next both months, we may expect there would be be an increase of 0.97% DA in terms of 12^th BPS on revised pay. Total 25.97 percentage of DA will become payable from May'26.
3. On assumptions if there is an increase in CPI index by 0.30 points in the next boths months, we may expect there would be be an increase of 0.87% DA in terms of 12^th BPS on revised pay. Total 25.87 percentage of DA will become payable from May'26.

Big Home Loan Fraud in Central Bank of India, 10 People convicted by CBI

A special CBI Court in Mumbai on Tuesday convicted a retired bank manager and nine others in a 2004 home loan fraud case. The court gave prison sentences ranging from one year to five years.

Brothers Kashinath Jadhav and Ganesh Pandurang Jadhav were the main accused in the case. The court sentenced them to five years in jail. Former bank official Metha Sastry was given one year of imprisonment under the Prevention of Corruption Act.

Sastry was a senior manager at the Central Bank of India branch in Prabhadevi, Mumbai. The court said he failed to carry out required checks before and after sanctioning the loans. If these checks had been done, the fraud could have been detected earlier.

Another bank official, Narain Mathur, who was a chief manager, died during the 20-year trial. So, the charges against him were closed.

According to the prosecution, the accused used 17 fake sale agreements to apply for housing loans. They claimed that they were buying flats from Shreeram Sthapatya Construction in Spring Field Apartment in Vasai. However, in reality, no flats were purchased.

The Jadhav brothers also opened fake bank accounts in the name of the construction company at Punjab National Bank.

After the loans were approved by the Central Bank of India, the cheque payments were wrongly deposited into these fake accounts instead of going to the real builder. The money was then quickly withdrawn.

The Central Bureau of Investigation (CBI) said that bank officials did not properly verify the loan applicants, the purpose of the loan, or the documents. Loans worth ₹67.70 lakh were given, out of which ₹48.63 lakh remained unpaid

CBI Registers Rs 61.13 Crore Bank Fraud Case Against Laxmiroop Pvt Ltd

The Central Bureau of Investigation has registered a case against a metal company in a ₹61.13 crore bank fraud case. The company allegedly failed to repay loans taken from a group of banks led by Union Bank of India. It is also accused of using the loan money for purposes that were not approved.

The company, Laxmiroop Pvt Ltd, is based in Chhattisgarh. Its transactions with the banks between 2023 and 2025 are now under investigation. The group of banks also includes Federal Bank.

Due to non-payment of loans, the company’s account was declared a Non-Performing Asset (NPA) on February 26, 2025, by Union Bank of India. Later, Federal Bank reported the account as “fraud” to the Reserve Bank of India on June 16, 2025. Union Bank of India also reported it as fraud on September 23, 2025.

The FIR in this case was registered by the Mumbai unit of the Central Bureau of Investigation on February 13. It was based on a complaint filed by a Deputy General Manager of Union Bank of India. The case has been registered under sections related to criminal conspiracy, cheating, and misconduct under the Indian Penal Code and the Prevention of Corruption Act.

Call for flash strike by UFBU on PLI issue

THE PLI AMOUNT PAID TO MD & EDS OF DIFFERENT PUBLIC SECTOR BANK

PNB

MD&EDs will be paid Rs.1,00,67,530.31 as PLI. The PLI Amount that will be paid to MD&EDs is as follows:

S. No.	Name of the WTD	Designation	PLI Amount (₹)
1	Shri Atul Kumar Goel	Former MD & CEO	16,15,680.00
2	Shri Ashok Chandra	MD & CEO	4,51,695.48
3	Shri Kalyan Kumar	Former ED	19,53,600.00
4	Shri Binod Kumar	Former ED	16,99,509.67
5	Shri M. Paramasivam	ED	21,50,400.00
6	Shri Bibhu Prasad Mahapatra	ED	21,50,400.00
7	Shri D Surendran	ED	46,245.16

The Government has ordered Punjab National Bank to pay PLI to officers from Scale IV to Scale VIII as per the revised PLI guidelines issued by DFS, Ministry of Finance.

SBI

The PLI Amount that will be paid to MD&EDs is as follows:

S. No.	Name of the WTD	Designation	PLI Amount (₹)
1	Shri Dinesh Khara	Former Chairman	10,95,968.00
2	Shri C S Setty	Chairman	16,04,032.00
3	Shri C S Setty	Former MD	10,93,045.00
4	Shri Ashwini Kumar Tiwari	MD	26,92,800.00
5	Shri Vinay M. Tonse	Former MD	26,73,300.00
6	Shri Alok Kumar Choudhary	Former MD	6,73,200.00
7	Shri Rana Ashutosh Kumar Singh	MD	17,51,768.00
8	Shri Rama Mohan Rao Amara	MD	7,74,542.00

BOB

The PLI Amount that will be paid to MD&EDs is as follows:

S. No.	Name of the WTD	Designation	PLI amount to be paid
1	Shri Debadatta Chand	MD & CEO	16,15,680.00
2	Shri Lalit Tyagi	ED	16,12,800.00
3	Shri Sanjay Vinayak Mudaliar	ED	16,12,800.00
4	Shri Lal Singh	ED	16,12,800.00
5	Smt Beena Vaheed	ED	10,40,516.40

INDIAN BANK

The PLI Amount that will be paid to MD&EDs is as follows:

S. No.	Name of the WTD	Designation	PLI Amount (₹)
1	Shri S. L. Jain	Former MD & CEO	16,00,080.00
2	Shri Binod Kumar	MD & CEO	4,51,695.48
3	Shri Mahesh Kumar Bajaj	Former ED	17,87,760.00
4	Shri Ashutosh Choudhary	ED	21,50,400.00
5	Shri Shiv Bajrang Singh	ED	21,50,400.00
6	Shri Brajesh Kumar Singh	ED	21,03,600.00