State Bank to hire 7,000 (Nov 17, 2015)

State Bank of India (SBI) will hire 7,000 people this financial year to support its branch expansion plans and for regular needs. “We will hire about 2,000 probationary officers and the rest clerks. We are going to add 700 more branches this financial year to take the total to beyond 17,000,” said Rajnish Kumar, MD. The bank, which launched an e-wallet app for smart phone users, will launch Batua (purse), a multi-lingual app for feature (basic) phones in three weeks. He said it would be available in 13 Indian languages.

10th Bipartite Pay scale Finalized today

10th Bipartite Pay scale Finalized today

:: Scale of pay finalized::
Clerks: 11765 to 31540
Substaff: 9560 to 18545
(20 stages)

::8 STAGNATION increments.
5 once in 3 years and
3 once in 2 yrs -

 ::8th stag. Inc. w.e.f.1.5.2015

 :: DA - 0.10% per slab


 :: HRA - 10%, 9% and 7.50%
(Only 3 areas. 3rd and 4th clubbed)

 :: Transport - upto stage-15  - 425
stage 16 & above - 470

:: Medical - 2200

:: Spl Allowance @ 7.75% of Basic with DA thereon -

::Settlement may be signed on 25th.

10th Bipartite Pay scale Finalized today

10th Bipartite Pay scale Finalized today

:: Scale of pay finalized::
Clerks: 11765 to 31540
Substaff: 9560 to 18545
(20 stages)

::8 STAGNATION increments.
5 once in 3 years and
3 once in 2 yrs -

 ::8th stag. Inc. w.e.f.1.5.2015

 :: DA - 0.10% per slab


 :: HRA - 10%, 9% and 7.50%
(Only 3 areas. 3rd and 4th clubbed)

 :: Transport - upto stage-15  - 425
stage 16 & above - 470

:: Medical - 2200

:: Spl Allowance @ 7.75% of Basic with DA thereon -

::Settlement may be signed on 25th.

At Last 10th Bipartite Settlement Meeting Ended by increase at 15% on Payslip Components

The Final settlement of 10th BPS wage negotiations ended at 15%.

Today UFBU & IBA finalise on that matter.

Also, every 2nd & 4th Saturday of every Months will be Holidays while the other Saturday will be Full Working Days.

The Complete Circular will be coming soon.

At Last 10th Bipartite Settlement Meeting Ended by increase at 15% on Payslip Components

The Final settlement of 10th BPS wage negotiations ended at 15%.
Today UFBU & IBA finalise on that matter.
Also, every 2nd & 4th Saturday of every Months will be Holidays while the other Saturday will be Full Working Days.
The Complete Circular will be coming soon.

Reliance joins hands with SBI for Payments Bank Licence

Mumbai, February 2: Reliance Industries Limited (RIL) on Monday said it has applied for a Payments Bank licence, where the company will be the promoter and State Bank of India will be its joint venture partner with an equity investment of up to 30%.

Reliance in its statement said that the partnership is in accordance with the guidelines for Payments Bank issued by RBI and subject to grant of licence by the central bank.

“The partnership brings together the combined strengths of two of India’s Fortune-500 corporations committed to making a transformative impact on India’s financial inclusion landscape,” the Reliance statement said.

The Payments Bank will leverage SBI’s nationwide distribution network and risk management capabilities along with the substantial investments made by Reliance Industries in its retail and telecom businesses.

The joint venture will use state-of-the-art technology, build scalable infrastructure and create extensive branch and business correspondent network in order to provide last-mile access and intuitive user experience to all sections of society.

Both the partners see formation of the Payments Bank as an opportunity to lead and co-create an eco-system for accessible and affordable banking solutions. The statement also said that the proposed payments bank will digitise payments and act as a catalyst towards a cashless society.

Bank wage talks ends in stalemate Four-day strike between February 25 and 28

Coimbatore, February 3:  Not satisfied with the 0.5 per cent increase in the offer made by the Indian Banks' Association, the United Forum of Bank Unions (UFBU) has decided to revive the strike programme.

The All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam said that the unions have issued a strike call to its members for a four-day strike between February 25 and 28.

This is expected to be followed by an indefinite strike from March 16