Indian Banks Association

A Manimekhalai, MD & CEO, Union Bank of India, Swarup Kumar Saha, MD & CEO, Punjab & Sind Bank and Madhav Nair, country head & CEO-India, Bank of Bahrain & Kuwait BSC, will be his deputies

MC Exclusive | IBA to take up banks' concerns over LCR guidelines with RBI

The major recommendation by the banks is to incrementally increase the run-off rate instead of 5 percent in one go and also extend the deadline

Indian Banks' Association forms sectoral committee in GIFT City

IBA has constituted the Sectoral Committee to address the unique regulatory landscape and challenges faced by banks operating within GIFT City.

Indian Banks Association softens on 5-day work week for bank employees

At the bilateral meeting between the Unions and IBA on February 28, it was concluded that to enforce a five-day work week, "it has emerged that the total working hours can be increased by 40 minutes per day with cash transactions from 10 am to 4 pm and non-cash transactions upto 4-30 pm."

RBI allows banks to amortise additional liability post family pension revision

The RBI said the issues were examined from a regulatory perspective, and as an exceptional case, it has been decided that banks covered by the aforementioned settlement may take the following course of action in the matter.

Canara Bank to be lead sponsor of bad bank, to pick up 12% stake

Following the board nod, Canara Bank said, the bank has sought the approval from the Reserve Bank of India for participating in NARCL as sponsor contributing 12 per cent stake.

IBA asks banks to refund compound interest to all borrowers: Report

Rating agency ICRA estimates that compound interest waiver on all loans will cost the government Rs 7,000-7,500 crore.

Bank employees get 15% annual wage hike after 35 rounds of negotiations

As many as 8.5 lakh bank employees are set to benefit from the wage hike, which will be effective from November 2017.

IBA working on ease of banking on lending side: CEO Sunil Mehta

Member banks are working on digitisation of loan products so that the human intervention is minimised in the process of loan, he said.

IBA wants to house Rs 75,000 crore bad loans via 'Bad Bank'

Bad loans across both public and private banks are proposed to be housed in this Bad Bank.

IBA directs banks to remit Rs 500/month in women Jan Dhan a/cs from April 3

The remittance under the recently announced Pradhan Mantri Garib Kalyan Yojana will be credited between April 3 and April 9, IBA said in a statement

Banks unions want lenders to offer special loans to Jet staff

The unions also suggested banks can extend special and exclusive loans to the airline to pay the salary dues or some subsistence payments to them against proper collateral.

Comment | Public sector bank reforms: Baby steps taken, a long way to go

It is a reflection of the sad state of affairs in Indian public sector banking that the government/external agencies have to hand hold lenders to ensure that basic hygiene is followed when extending loans.

Banking weekly wrap: Banks may soon ask you to pay up for cheque book, ATM cards

Certain services may become costlier as banks may not only ask customers with minimum-balance accounts to pay up for free services like chequebooks and ATM cards

Bankers worry over arrest of Bank of Maharashtra CEO, want Govt to intervene

IBA will also ask the government to consider an insurance cover for bankers for the costs incurred on fighting such cases after their retirement

Will work expeditiously to resolve stressed assets issue: Arun Jaitley

The Centre is working towards strengthening its ability to support the banks through greater resource mobilisation, Jaitley said.

Now, RBI tells banks to remain closed on April 1; unions unnerved by flip flop

Last week, in order to facilitate government receipt and payment functions, the RBI had advised all agency Banks -- public sector and three top private banks -- to keep all their branches dealing with government business open on all days in the current financial year and on April 1, 2017 (including Saturday, Sunday and all holidays), i.e. from March 25 and April 1.

IBA asks customers to complete urgent bank transactions today

Banks in several parts of the country will be closed tomorrow (on account of it being the month's second Saturday), on March 12 (Sunday) and for the Holi festival on March 13.

Restructured education loans not to be treated as NPAs: RBI

Banks may allow up to three spells of moratorium (not exceeding 6 months each) during life cycle of education loan, taking into account spells of unemployment/underemployment, "without treating the exercise as restructuring", RBI said in a letter to the Indian Banks' Association (IBA).

COMMENT: When govt comes hunting for villains, banks will be easy prey

Over the weekend the Finance Ministry sent a strange missive to public sector banks and to the Indian Banks Association telling them to strictly segregate deposits coming in the form of new and old notes and reflect it correctly in the customer's counterfoil and in their books.

Accept IDS payments till 2017; don't ask source: IBA to banks

With the last date for paying the first installament of due taxes and penalty under the one-time black money window IDS nearing, banks have been asked to ensure that such payments are accepted without any hassle and the source of funds is not sought from the declarant.

Banks may hire retired staff to deal with cash rush: FinMin

In a letter written to Indian Banks' Association (IBA), the financial services department of the finance ministry said it should look into issues, particularly employment of retired bank staff and payment of remuneration and instruct the banks suitably at the earliest.

Home loans to get cheaper, as banks promise to pass on RBI rate cut

The six-member Monetary Policy Committee (MPC), headed by Reserve Bank of India (RBI) Governor Urjit Patel, on October 4, 2016, unanimously voted to reduce the repo rate or the short-term rate at which the &#82

FinMin seeks status report on wage revision talks from PSBs

Keen to close wage negotiations in public sector banks by November 1, 2017, the Finance Ministry has asked the lenders to present status report on salary hike talks with their employee unions.

Bank unions threaten strike on Jul 29 against banking reforms

The Indian Banks' Association (IBA) has informed banks that United Forum of Bank Unions (UFBU) has served a notice of strike on IBA, informing their decision to go on strike at all banks on July 29 on "issue and demand to stop banking sector reforms".