Last Friday, an officers' union of state-run banks observed a day-long strike to protest against the merger and also demanded immediate settlement of wage negotiations.

Close to 1 million employees of various banks, including private lenders, have called for a one-day strike on 26th December

Banking operations at bank branches and administrative offices are likely to be affected in the coming days on account of two bank union strikes, Christmas holiday and weekend.

The bank unions have called for a strike to protest against the merger of Bank of Baroda (BoB), Dena Bank, and Vijaya Bank. The merger of these three banks was approved by the government in September this year.

The bank unions have called for a strike to protest against the merger of Bank of Baroda, Dena Bank, and Vijaya Bank. The merger of these three banks was approved by the government in September this year.

RBI has put the spotlight back on the shortfalls of the Marginal Cost of Funds Based Lending Rate (MCLR) system.

If we have growth which is engineered on the strength of a 31 or 28 per cent credit offtake in a given year, then history will certainly record it as some indiscriminate lending, which is bound to show its impact on the future, says Jaitley.

Bank unions are, however, not in favour of the performance-based salary structure. \"The demand of the trade unions has been one rank, one pay,\" AIBOC said.

The inter-creditor agreement gives more powers to the lead lender in a consortium and allows a resolution plan to be approved if 66 percent of the banks in the group agree to it.

Though the latest UPI version would be loaded with features like auto debit and double transaction limit, etc, the Reserve Bank of India's decision withhold 'Standing Instruction' feature could be a dampener.

Arun Jaitley calls for amendments in graft law, says it's anarchic and hurts decision makingUnion Minister Arun Jaitley on Tuesday called for amendments in the Prevention of Corruption Act -- a graft law that the Minister described as anarchic and one of the most badly drafted pieces of legislations. His statement came weeks after the Pune police on June 21 arrested the entire top management of the state-run Bank of Maharashtra for a loan of Rs 94.5 crore to the scam-tainted devel...

The banking sector's bad loan problem as well as the recent instances of bank frauds has seen the investigative agencies unleash a spate of high profile arrests.

Banking services took a hit on the second consecutive day of the nationwide bank strike which was called by employees' unions of state-run banks.