RBI bans Kotak Mahindra Bank from on boarding new online customers
However, the RBI (Reserve Bank of India) said the bank shall continue to provide services to its existing customers, including its credit card customers.
Four bank officers’ trade union organisations have proposed to go on a continuous strike from the midnight of September 25 to the midnight of September 27 against the recent mergers and amalgamations in the banking sector.
The bank officers’ union are also set to go on an indefinite strike from the second week of November.
The trade union organisations have demanded expeditious wage revision as per the Charter of Demands, with an unconditional and clear mandate from all banks; immediate reduction of 5-day week in full, reduction of cash transaction hours and regulated working hours and halting of undue interference in the existing procedure of Vigilance cases by outside agencies.
Advertisement
The bank officers’ trade union organisations have called for the settlement of issues pertaining to retirees-Update of Pension as per RBI formula/Revision of Family Pension without any ceiling, quantum and percentage; medical insurance at par with serving employees.
The other demands include adequate recruitment, scrapping NPS and reintroduction of Defined Payment Scheme, reduction of service charges for customers and lastly, stopping of harassment of officers.
The Centre had on August 30 announced four mega public sector bank mergers.
Post-consolidation, India has 12 Public Sector Banks from the earlier 27 Public Sector Banks.
Announcing a slew of measures to empower the public sector banks, Nirmala Sitharaman said a board committee of nationalised banks will appraise the performance of general managers and higher positions.
The government “wants a strong financial system” and the banking reforms will clear the path to make India a $5-trillion economy, the Finance Minister said while announcing the major moves.
Advertisement
