Latest Update on DA

LATEST DA OF BANK EMPLOYEE
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Facility for exchange of notes and coins at bank branches

Facility for exchange of notes and coins at bank branches

Now a days every one neglected to received coin, whether it is auto rikso, kirana shop, cigrate shop or a knowledgeable bussiness man. A bizzared word is blowing that coin is not acceptable, and all of these are blaming bankers that these bankers are reluctant to receive coin. But this is not true as per bank officers information, there are some rules and regulation. Every one can deposit coin at a bank counter but there are some rules..Income Tax Rates for Individuals and HUFs for FY 2017-18 (AY 2018-19)
"(a) All branches of banks in all parts of the country are mandated to provide the
following customer services, more actively and vigorously to the members of public
so that there is no need for them to approach the RBI Regional Offices for this
purpose:

(i) Issuing fresh / good quality notes and coins of all denominations on demand,

HIGHLIGHTS OF TODAY'S TALKS ON WAGE SETTLEMENT

Today was the 2nd official meeting between , UFBU and IBA. After a long deliberation and discussion some positive point comes up.  IBA has been agreed that the ensuing wage revision will commence from 1.11.2017. UFBU also discussed about DA merger point, 5 day banking, initial offer etc. IBA wanted time to respond. IBA has set up sub-committees to discuss non financial demands which will meet shortly. Another meeting will be held shortly to follow up issues of Record Note dt.25.5.2015. SK Bandlish Convener UFBU told that " details of the discussion will be notified through circular". It is worthy mention that GOVT. is very much pressuring on IBA for timely settlement of the WAGE REVISION. After 7th pay commssion of Central Govt, sallary difference between a officers of Bank and Central Govt employee increase to a bigway. So this bipartite settlement very much important as because if this salarry diffrence not reduce them bank will lose merit.

JAIIB Accounting AND Finance for Bankers

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STOP FINANCIAL RESOLUTION AND DEPOSIT INSURANCE BILL. Press Release byALL INDIA BANK OFFICERS’ CONFEDERATION

ALL INDIA BANK OFFICERS’ CONFEDERATION
(Registered under the Trade Unions Act 1926, Registration No.:3427/Delhi)
State Bank of India Officers’ Association
04th Floor, SBI Administrative Unit, No. 86, Rajaji Salai, Chennai- 600 001
Phone: 044-25227170 Tel/Fax 044 25227170
E-Mail: aiboc.sectt@gmail.com

Date: 27.06.2017
Press Release

STOP FINANCIAL RESOLUTION AND DEPOSIT INSURANCE BILL.

It’s more likely than apparent now that the Govt. of India is determined and all set to put the shutter down of all the Public Sector Banks, RRBs , Co-Op. Banks and Insurance Companies. The Preamble of the above stated bill illustrates that it is to establish a framework to carry out the resolution of certain categories of financial service providers in distress, to provide deposit insurance to consumers of certain categories of financial services and for designation of Systemically Important Financial Institution of Central Govt. for resolution. The bill covers SBI, Public Sector Banks, RRBs, Co-op Banks, LIC and GIC, which are already controlled by RBI, Finance Ministry and IRDA. The aim appears to give out-and-out power to the authority which will be larger than the prevailing authorities.

MERGER IS ONLY A STEP TOWARDS PRIVATISATION BY D. T. Franco GS, AIBOC

ALL INDIA BANK OFFICERS’ CONFEDERATION (Registered under the Trade Unions Act 1926, Registration No.:3427/Delhi) State Bank of India Officers’ Association 04th Floor, SBI Administrative Unit, No. 86, Rajaji Salai, Chennai- 600 001 Phone: 044-25227170 Tel/Fax 044 25227170 E-Mail: aiboc.sectt@gmail.com 

 Date: 26.06.2017

 Press Release

 MERGER IS ONLY A STEP TOWARDS PRIVATISATION 

 All India Bank Officers Confederation, the largest officers' organization having membership of around 285000 officers vehemently opposes the stand of Govt. of India on merger of Public Sector Banks. This organization has time and again criticized such forced mergers and we will continue to protest such ill conceived plans of merger of Public sector Banks by GOI, Niti Ayog and RBI which can wreck havoc on India’s financial mainstay. Earlier also we condemned the comments made by Sri Urijit Patel, Governor, RBI, in his address at the Kotak Family Lecture at Columbia University in New York, where he advocated merger and acquisitions of PSBs. We can well understand the fact that the merger of public sector banks is a part of the government's broader plan to privatize the public enterprises to attract foreign investment. In 2015, the government announced that it was opening up nine previously restricted economic sectors, including civil aviation, single-brand retail stores, pharmaceuticals and military production, to over 50% percent foreign direct investment and ownership. Government has always understated the efforts put in by the PSBs and its employees to successfully conduct the various ambitious Social Security Schemes of GOI such as Jan Dhan yojna, Mudra, Standup India etc. Very recently, the country has evidenced the exercise of ‘demonetization’ and it was these public sector banks which have burnt midnight’s fuel to make it happen, though whether it is successful or not is yet in question. The brunt of demonetization had been directly encountered by the common men along with the poor Bankers; the pertinent question still remains unanswered; was it worth? RBI is yet to publish the official data on the amount of Black Money recovered, which was the main objective behind ‘demonetization’ as depicted by our Prime Minister. Moreover, it took all these PSBs more than 3 months of hard labour and toil to set right the upheavals which were created by demonetization. The Banks could not lend or recover loans for a few months post demonetization. The GOI seems to be opening the gateway for privatization of PSBs, and quite unashamedly brushing aside the contribution of PSBs in implementation of GOIs various social sector schemes. When the Govt wants to lean on PSBs for support, they have been made to do it forcibly, but when the question of supporting PSBs by pumping in fresh capital to revive their capital base comes at this critical juncture, the govt has cunningly withdrawn, revealing an abominable double cross. Infact, the Public Sector Banks are spending their hard earned money for expenses related to Jandhan, Demonetization, pension schemes, Swachh Bharat Mission, Yoga Day etc.

HOME LOAN INTEREST RATE COMPARISION OF DIFFERENT BANK JUNE 2017

Bank Name	Home Loan Interest Rates*	Lowest EMI per lakh for Max Tenure	Reference websites
State Bank of India	8.35% - 8.60% Floating rate linked to 1 Year MCLR - 8.00%	Rs. 758 for 30 Years	https://www.sbi.co.in/
Bank of India	8.35% - 9.35% Floating rate linked to 1 Year MCLR - 8.35%	Rs. 758 for 30 Years	www.bankofindia.co.in/
IDBI Bank	8.35% Floating rate linked to 3 Month MCLR - 8.30%	Rs. 758 for 30 Years	https://www.idbi.com/
Union Bank of India	8.50% - 8.65% Floating rate linked to 1 Year MCLR - 8.40%	Rs. 768 for 30 Years	http://www.unionbankofindia.co.in
Indian Bank	9.65% - 9.90% Floating rate linked to 1 Year MCLR - 8.50%	Rs. 942 for 20 Years	https://www.indianbank.net.in
Dena Bank	8.55% - 8.80% Floating rate linked to 1 Year MCLR - 8.60%	Rs. 809 for 25 Years	www.denabank.co.in/
OBC	8.60% - 8.70% Floating rate linked to 1 Year MCLR - 8.50%	Rs. 812 for 25 Years	https://www.obconline.co.in
Central Bank of India	8.50% Floating rate linked to 1 Year MCLR - 8.40%	Rs. 769 for 30 Years	https://www.centralbank.net.in
Bank of Maharashtra	8.75% - 8.85% Floating rate linked to 1 Year MCLR - 8.75%	Rs. 787 for 30 Years	www.bankofmaharashtra.in
Corporation	8.85% - 9.10% Floating rate linked to 1 Year MCLR - 8.75%	Rs. 794 for 30 Years
Allahabad  Bank	8.65% - 9.15% Floating rate linked to 1 Year MCLR - 8.50%	Rs. 877 for 20 Years
PNB	8.55% - 8.65% Floating rate linked to 1 Year MCLR - 8.35%	Rs. 772 for 30 Years
United Bank of India	9.55% Floating rate linked to 1 Year MCLR - 8.75%	Rs. 845 for 30 Years
Canara Bank	8.65% - 8.75% Floating rate linked to 1 Year MCLR - 8.40%	Rs. 780 for 30 Years
Vijaya Bank	8.90% Floating rate linked to 1 Year MCLR - 8.65%	Rs. 797 for 30 Years
Bank of India	8.65% - 8.70% Floating rate linked to 1 Year MCLR - 8.40%	Rs. 780 for 30 Years
Andhra Bank	9.65% - 9.90% Floating rate linked to 1 Year MCLR - 8.65%	Rs. 852 for 30 Years
Indian Overseas Bank	8.65% - 9.15% Floating rate linked to 1 Year MCLR - 8.55%	Rs. 780 for 30 Years
UCO Bank	8.60% - 8.85% Floating rate linked to 1 Year MCLR - 8.60%	Rs. 776 for 30 Years
Punjab and Sind Bank	8.75% - 9.00% Floating rate linked to 1 Year MCLR - 8.75%	Rs. 787 for 30 Years
Syndicate Bank	8.75% Floating rate linked to 1 Year MCLR - 8.75%	Rs. 787 for 30 Years
HDFC	8.40% - 9.05% Floating rate linked to PLR - 16.15%	Rs. 762 for 30 Years
ICICI Bank	8.35% - 8.85% Floating rate linked to 1 Year MCLR - 8.20%	Rs. 758 for 30 Years
Axis Bank	8.35% - 8.70% Floating rate linked to 6 Month MCLR - 8.15%	Rs. 758 for 30 Years
PNB Housing Finance	8.50% Floating rate linked to PLR - 14.35%	Rs. 769 for 30 Years
Federal Bank	9.00% - 9.25% Floating rate linked to 1 Year MCLR - 8.90%	Rs. 805 for 30 Years
LIC Housing	8.50% - 8.90% Floating rate linked to PLR - 14.20%	Rs. 769 for 30 Years
Citibank	8.60% Floating rate linked to 3 Month MCLR - 8.10%	Rs. 812 for 25 Years
Standard Chartered Bank	8.90% Floating rate linked to 3 Month MCLR - 8.75%	Rs. 893 for 20 Years
DBS Bank	8.70% - 8.90% Floating rate linked to 3 Month MCLR - 7.95%	Rs. 881 for 20 Years
DHFL	8.60% - 9.75% Floating rate linked to PLR - 18.30%	Rs. 776 for 30 Years
Jammu And Kashmir Bank	8.65% - 9.00% Floating rate linked to 1 Year MCLR - 8.90%	Rs. 994 for 15 Years
South Indian Bank	9.10% Floating rate linked to 1 Year MCLR - 9.10%	Rs. 812 for 30 Years
Repco Home Finance	9.60% - 11.50% Floating rate linked to PLR - 16.00%	Rs. 939 for 20 Years
IIFL	9.40% - 9.55% Floating rate linked to PLR - 17.50%	Rs. 834 for 30 Years
RBL Bank	10.30% - 11.55% Floating rate linked to 1 Year MCLR - 9.60%	Rs. 930 for 25 Years
Catholic Syrian Bank	10.25% - 10.50% Floating rate linked to 1 Year MCLR - 10.10%	Rs. 982 for 20 Years
Union Bank of India	8.60% - 8.65% Floating rate linked to 1 Year MCLR - 8.40%	Rs. 776 for 30 Years
HSBC Bank	8.85% Floating rate linked to 1 Year MCLR - 7.85%	Rs. 829 for 25 Years
Tamilnad Mercantile Bank	10.30% - 10.80% Floating rate linked to 1 Year MCLR - 9.45%	Rs. 900 for 30 Years
GIC Housing Finance	10.25% Floating rate linked to PLR - 15.00%	Rs. 982 for 20 Years
Edelweiss	10.50% - 10.90% Floating rate linked to PLR - 17.50%	Rs. 944 for 25 Years
Kotak Bank	8.60% Floating rate linked to 1 Year MCLR - 8.90%	Rs. 874 for 20 Years
Dhan Laxmi Bank	10.10% - 10.35% Floating rate linked to 1 Year MCLR - 9.90%	Rs. 972 for 20 Years
Karnataka Bank	9.50% - 9.75% Floating rate linked to 1 Year MCLR - 8.90%	Rs. 841 for 30 Years
Deutsche Bank	9.45% Floating rate linked to 1 Year MCLR - 9.30%	Rs. 929 for 20 Years
Indiabulls	8.35% - 8.85% Floating rate linked to PLR - 17.05%	Rs. 758 for 30 Years
Reliance Capital	10.00% - 11.75% Floating rate linked to PLR - 18.00%	Rs. 878 for 30 Years
City Union	9.90% - 11.60% Floating rate linked to 6 Month MCLR - 9.15%	Rs. 1,069 for 15 Years
IDFC Bank	8.70% - 8.75% Floating rate linked to 6 Month MCLR - 8.35%	Rs. 783 for 30 Years
Yes Bank	9.35% - 10.50% Floating rate linked to 1 Year MCLR - 8.90%	Rs. 863 for 25 Years
LT Housing Finance	9.90% - 10.75% Floating rate linked to PLR - 17.35%	Rs. 870 for 30 Years
Lakshmi Vilas Bank	9.85% Floating rate linked to 1 Year MCLR - 9.50%	Rs. 955 for 20 Years
Karur Vysya Bank	9.90% Floating rate linked to 1 Year MCLR - 9.35%	Rs. 902 for 25 Years
Development Credit Bank	10.48% - 11.35% Floating rate linked to 1 Year MCLR - 9.98%	Rs. 997 for 20 Years

Home Loan