All India Bank Employees' Association (AIBEA) has called for a one-day nation-wide strike on Friday (January 8) to protest against the "unfair" policies adopted by SBI with respect to its five associate banks.
As a New Year begins, it's not a clean slate for the banks with balance sheets full of red ink due to huge bad loans worth about USD 60 billion and a serious clean-up job is a must in 2016 with the RBI having set a deadline.
After facing humiliating defeat in the Bihar assembly elections, Narendra Modi government on Tuesday allowed FDI through automatic route in 15 sectors including the construction, civil aviation, banking, defence, retail and news broadcasting.
State Bank of India chief Arundhati Bhattacharya Monday said state-run lenders' risk-taking during the crisis years is helping private sector lenders report healthy asset growth by "cannibalising" the completed projects.
The bank, which had a low share of the cheaper current and savings account deposits at 16.7 percent as of March, will offer 5 percent interest on saving bank deposits of up to Rs 5 lakh, it said in a statement.
In a bid to attract professional talent, the RBI Monday allowed private sector banks to pay up to Rs 10 lakh per annum as compensation to non-executive directors besides sitting fee for attending board meetings.
Starting April 1, many private banks like HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank have announced a hike in charges ahead of the new rules kicking in for penalty on non-maintenance of minimum average balance in savings accounts.
In a bid to attract talent from a wider pool, the Finance Ministry has invited private sector bankers, besides the regular public sector executives, to apply for the top job at five large state-owned lenders.