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SBI Orders Recovery of Overtime Pay from “70,000” Associates Bank Staffs


SBI orders recovery of overtime pay from staff of associates bank paid as ‘compensation’  for working overtime during note ban. State Bank of India insisted that the compensation was only for SBI staffs and not intended for associate bank.  The 70,000 officers and employees of associates or e-Abs banks i.e. State Bank of Patiala, State Bank of Hyderabad, State Bank of ...

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SBI Paid Double on Cancellation of Flipkart Orders


This is really beautiful, when you get double refund on not purchasing anything from Flipkart. Recently Moneycontrol has reported an incident where  State Bank of India (SBI) has deposited double the cancelled amount in 39 accounts. The money was once credited on the day of the cancellation and credited again a few days later. SBI already have lost more than Rs 7 crore from ...

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RBI Former Deputy Governor KC Chakrabarty Stopped From Travelling To London


CBI issued Look out Notice against Former Deputy Governor of RBI –  Former deputy governor of Reserve Bank of India KC Chakrabarty was stopped from travelling to London in the month of May at the Mumbai airport due to reason, the Central Bureau of Investigation (CBI) had issued a Look Out Circular (LOC) against him.  LOCs are used to monitor ...

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Arun Jaitely Against State Police Investigating Public Sector Bankers


Finance Minister Arun Jaitely said that “State police investigating a Central PSU threatens the federal balance”.He further added that overreach of Central, State investigation agencies has threatened bankers; anti-graft law affecting honest decision-making. Read – Bank Of Maharashtra Chairman, ED Arrested in Rs. 3,000 Crore Fake Loans Case Finance Minister was quoting with reference to the recent arrests of Bank of Maharashtra ...

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Banks and Employees Not Fulfilled on Expectations: Piyush Goyal


Union Minister of Finance (Temporary) Piyush Goyal has stated that the banking system in India has failed to work according to the expectations of the people and government. The high moral standards that were expected from bank employees did not come true. Goyal also admitted that there has been political interference in government banks in the past, But no minister ...

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RBI Granted Licence to Bank of China For Opening Branches in India


Reserve Bank of India (RBI) has granted permission to Bank of China to operate and open branches in India. It is said that the RBI has issued licence to Bank of China to set up its first branch in India. It was a commitment made by the prime minister to the President of China. Bank of China is the second ...

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Canara Bank To Raise Rs 1,000 Crore Through Employee Stock Purchase Scheme


Canara Bank is raising Rs 1000 crore through Employee Stock Purchase Plan. Canara Bank board has approved the purchase of 6 crore equity shares to its staff to raise up to Rs 1,000 crore under employee stock purchase scheme. The bank has plans to raise Rs 7,000 crore during 2018-19. Read – Rs 7,840 Crore Equity Capital Will Be Raised By Syndicate ...

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Rs 7,840 Crore Equity Capital Will Be Raised By Syndicate Bank This Fiscal


Public Sector Syndicate Bank has announces to raise equity capital of Rs 7,840 Crore. The capital will be raised through various means  including preferential issue to the government, creating equity shares by way of qualified institutional placement or rights issue or follow on public issue or any another mode in one or more tranches. The decision of raising the equity capital was ...

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