IBPS exams will now be held in 13 regional languages

• Finance Minister Nirmala Sitharaman today announced that recruitment examination for employment in the Regional rural banks (RRBs) will be conducted in regional languages apart from English and Hindi.
  In a written reply to the Lok Sabha, Sitharaman explained that recruitment for Officers Scale-I and Office Assistants (multi-purpose) in Regional Rural Banks will be now be held in 13 regional languages.
  The 13 regional languages are — Assamese, Bengali, Gujarati, Kannada, Konkani, Malyalam, Manipuri, Marathi, Odiya, Punjabi, Tamil, Telugu and Urdu.
  Currently, there are 45 regional rural banks functioning in the country with a total staff strength of 90,000 employees. The Institute for Banking Personnel Selection (IBPS) conducts Common Recruitment Process (CRP) for recruitment of officers in RRBs in English and Hindi across the country.
  The aim is to provide a level playing field and to expand employment possibilities for local youths, Sitharaman wrote on Twitter.

The highest number of fraudsIN MUDRA LOAN were reported from Tamil Nadu (344), followed by Chandigarh (275) and Andhra Pradesh (241).

As many as 2,313 Pradhan Mantri Mudra Yojana (PMMY) accounts with the public sector banks reported instances of fraud since the financial year 2016-17, Parliament was informed Monday. 

Since the beginning of the scheme, over 19 crore loans have been extended under PMMY as on June 21, 2019. 

"As per information compiled from public sector banks (PSBs), instances of alleged frauds reported during the last three years and the current year so far is in 2,313 accounts," Finance Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. 

She also said "examination/investigation" has been initiated in all cases to ascertain lapses and fixing of accountability. 

Out of 103 delinquent employees identified, action has been taken on 68 as per extant guidelines. 

The highest number of frauds were reported from Tamil Nadu (344), followed by Chandigarh (275) and Andhra Pradesh (241). 

The minister further said as reported by member lending institutions, the total non-performing assets (NPAs) as a percentage of credit disbursed has shown a nominal increase from 2.52 per cent (2017-18) to 2.68 per cent in 2018-19 (provisional). 

The Lok Sabha was also informed that non-performing assets (NPAs) under the Shishu category has shown a steady decline from 4.14 per cent in 2016-17 to 1.93 per cent in 2017-18 and 1.29 per cent (provisional) in 2018-19 against the total credit disbursed under the scheme. 

Furthermore, PSBs periodically monitor NPAs for recovery of overdue amounts and follow recovery procedures as per policies approved by their boards and in compliance of the Reserve Bank of India's extant guidelines. 

 

Bank employees seek PM's attention to pension demand

Public sector bank employees have knocked at the doors of Prime Minister’s Office renewing their long-pending demand for pension update. They have raised the pitch following the government’s decision to clear the pension issues for Reserve Bank of India earlier this year. 

The employees have been demanding pension update as part of their bipartite wage talks with the Indian Banks’ Association (IBA), which represents bank management, but it has always been turned down. 

IBA has pegged the cost of updating pension in PSBs at Rs 95,000 crore and said that banks, which have been under severe stress with mounting bad loans, won’t be able to handle this burden. 

Pension for PSB employees has not been updated since 1996, union members alleged. 

“We seek your help in resolving our pension issues. The basic fact is that pension scheme in PSBs is exactly the same as RBI pension scheme, with similar rules & regulations,” bank employees union flag bearers said in a letter addressed to Nripendra Misra, principal secretary to the Prime Minister. 

The government had initially refused to budge to RBI employees’ demand, stating contingent effect resulting in similar demands from public sector banks. “But RBI pension has been updated with effect from March 1 this year -- this is our demand also,” they said. 

pension corpus is about Rs 12,000 crore. Now, RBI pensioners are entitled to get a notional rise of 10% plus dearness allowance with each of the three wage revisions in 2002, 2007 and 2012. This would result in an overall rise in basic pension by a factor of 3.63 for pensioners who retired before November 2002. 

The pension corpus of public sector banks was at about Rs 171418 crore, which is 14.28 times of RBI’s pension corpus, union members said. 

 

RBI Imposed penalty on PNB. UCO, ALB AND CORPORATION BANK

The Reserve Bank of India (RBI) has imposed a penalty of Rs 1.75 crore on four public sector banks, including PNB and UCO Bank for non-compliance with KYC requirement and norms for opening of current accounts. 


Punjab National Bank, Allahabad Bank and UCO Bank have been fined Rs 50 lakh each, while a penalty of Rs 25 lakh has been imposed on Corporation Bank

Giving details, the RBI said the penalty has been imposed for non-compliance with certain provisions of directions issued by it on Know Your Customer norms or anti-money laundering standards and opening of current accounts. 

The action, however is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers, the RBI added. 

 

BANK TO BANK WAGE FORMULA INTRODUCE VERY SOON

11th Bipartite wage settlement for banker due since November 2017 .No one say it will be finalized. IBA  and various bank want variable  pay formula as per health profitability  .and capacity to  abosorb higher wage cost.

Last talk between IBA and bank union was held on 21st June  after the three month break of Loksabha pool.  Next talk will be held after budget .

The capacity to pay is an important factor for wage increase. A new formula already drafted by various bank  that a minimum wage  increase at certaiul level after that bank will decides  and it will market oriented.Variable pay will varies every quater and it will depends on performance and bank's profitbality. Separate package for workman and officer also as per bank profit.

this is 1st time after 1966 bank will ready to introduces variable pay formula.

For details we have to wait more few month 

BSNL says it will not be closed down

Dismissing media reports as rumours, telecom major Bharat Sanchar Nigam Limited (BSNL) Tamil Nadu Circle on Tuesday said there is no proposal to close down the company.

• Due to stiff competition and the lowering of tariff, BSNL is facing a funds crisis for the last few months
• 
  
• BSNL said there is no proposal to close down the company as has been reported by a section of the media

In a statement issued here, the company said: "There is no proposal to close down BSNL as wrongly reported in a section of the press. Due to stiff competition and the lowering of tariff, BSNL is facing a funds crisis for the last few months."

According to the statement, the Central government is actively preparing a revival plan for BSNL for approval by the Cabinet.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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