GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES RAJYA SABHA UNSTARRED  QUESTION NO. 223 TO BE ANSWERED ON THE 15th September 2020/ Bhadrapada 24, 1942 (SAKA) Impact of bank merger 223. SHRI PARIMAL NATHWANI: Will the Minister of FINANCE be pleased to state: (a) whether the merger of Union Bank of India, Andhra Bank and the Corporation Bank will lead to any loss of jobs for the present employees or loss of any future employment opportunities for the people; (b) whether Government plans to preserve the strong regional focus which the Andhra Bank had towards the Telugu speaking States; and (c)     if so, the details thereof and if not, the reasons therefor? ANSWER THE MINISTER OF STATE FOR FINANCE (SHRI ANURAG SINGH THAKUR) (a) to (c): As per inputs received from Union Bank of India, the amalgamation of Andhra Bank and Corporation Bank into Union Bank of India has not resulted in a...

Bank Employees Wage Revision UFBU Meeting 12.12.2018 In today’s UFBU meeting the discussion revolved around two issues: A) The issue of extending fraternal support by UFBU constituents to AIBOC on 21st December’18. B) The view of all constituents on the decision of AIBOC of not taking part in further talks, and also to seek opinion of each affiliate whether they would be taking part in talks should IBA convene any meeting. On the first issue, there was no unanimity amongst constituents, hence, UFBU Convenor left the decision to individual affiliates. We are happy to share that some affiliates openly expressed their support and also agreed to join the Dharna at Delhi scheduled on 14th December’18 AIBOC also categorically stated that in future we will also take a call on extending fraternal support, should any affiliate call for a strike or announce any agitational program. On the second issue, all other affiliates expressed that they would be joining future talks. UFBU ...

No.CIR/HR&IRJ76/D/2018-19/4988 May 2, 2018 All Members of the Association (Designated Officers) Dear Sirs, Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2018 under X BPS/ Joint Note dated 25.5.2015 The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended March 2018 are as follows:- January 2018        6573.86 February 2018    6551.03 March 2018          6551.03 The average CPI of the above is 6559 and accordingly the number of DA slabs are 529(6559-4440= 2119/4= 529 Slabs) The last quarterly Payment of DA was at 527 Slabs. Hence there is an increase in DA slabs of 2, i.e 529 Slabs for payment of DA for the quarter May, June & July, In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearne...