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IBA signs MOU with bank employee unions on wage revision & allowance increase of 17 percent

Last time, in November 2020, IBA and bank employee unions had signed a bipartite settlement agreeing a 15 percent increase in pay for bank employees.
Banks may extend legal, financial support to staff in case of probe by inquiry agencies

The move comes in the light of several ongoing probes by various agencies on bank officials such as Chanda Kocchar for alleged wrongdoings while in office
Banks may set up 2 stressed asset funds: Sources

The proposal made on May 16 included setting up two stressed asset funds instead of one special situations fund. In the two-fold exercise, funds can be Stressed Assets Equity Fund (SAEF) and Stressed Asset Lending Fund (SALF).

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