trendingnewswithaditi

RBI fines Bandhan Bank for not reducing promoter shareholding to 40% The penalty has been imposed in exercise of powers vested in the RBI under the provisions of the Banking Regulation Act, 1949 Current Affairs :The Reserve Bank of India (RBI) on Tuesday forced a punishment of Rs 1 crore on Bandhan Bank for not cutting down the advertiser shareholding to 40 percent. Bandhan MFI had acquired on a basic level widespread financial permit from the national bank in 2014 and began undeniable tasks as a bank from August 2015. RBI forced the punishment by virtue of inability to pare the shareholding of Bandhan Financial Holdings Ltd to 40 percent of its paid-up casting a ballot capital, inside three years from beginning of the matter of the bank, the loan specialist said in a BSE documenting. Bandhan Bank turned out with an IPO and got recorded in March 2018. The bank had as of late converged with Gruh Finance, which cut down the shareholding of the advertiser from 82.26 perce...

IBA rejects bankers’ demand for five-day work week, sticks to 12% wage hike The unions have been demanding a five-day work week since a long time Current Affairs :The Indian Banks’ Association (IBA) has officially declined a solicitation from representative associations to keep bank offices open for five days per week, while likewise communicating failure to climb compensation by more than its proposition of 12 percent. It has not consented to the recommendation following perspectives on some “significant partners”, as indicated by a roundabout gave by the staff associations, under the umbrella of the United Forum of Bank Unions (UFBU). The associations need to consent to the IBA’s choice for it to be executed. The bank administrations, spoke to by the IBA, have told the associations that a 12 percent climb in wages will cost open segment banks (PSBs) more than Rs 6,300 crore yearly. “The bank administrations feel this isn’t a lucky time to actualize five-day working w...