Latest Update on Bank Strike: Reconciliation Meeting Held Today
A reconciliation conference involving the IBA, bank associations, and bank management was held today. This conference was attended by the labor commissioner and the management of all public sector banks. On March 24 and 25, 2025, Bank employees announced a strike, prompting the demand for the reconciliation meeting.
Due to demands like 5-day banking not being met, the bank associations have declared a strike. The meeting was place today, but no agreement could be reached. Therefore, the next meeting is scheduled for March 21, 2025, at 11:30 a.m.
The CLC office was the location of the meeting. The bank management, DFS, and IBA were all present. Every topic was covered. Regarding the concerns, particularly recruitment, 5-day banking, and unilateral PLI, there was no improvement.
CBI Arrests Bank Manager for Taking Bribe
The branch manager of Baroda UP Bank's Sikhola branch in Azamgarh was detained by the Central Bureau of Investigation (CBI) as he was taking a ₹20,000 bribe. The offender was apprehended while requesting money from an account holder in order to permit the withdrawal of funds from a sanctioned loan.
The complainant had taken out a loan under the Dairy Loan and Kisan Credit Card (KCC) programs, according to CBI authorities. According to reports, the branch manager wanted a payment of ₹20,000 when he went to the bank to withdraw the authorized amount. The manager informed the complainant that he would not be able to access his loan funds if he did not make the payment. The victim, distressed by the demand, informed the CBI of the situation.
The CBI promptly responded to the complaint after registering the case on March 12, 2025. The CBI's Anti-Corruption Branch set up a trap on March 11, 2025, and apprehended the accused as he accepted the money.
The manager was taken into custody right away and is currently being brought before the Lucknow special CBI court.
This episode brings to light a recurring problem in the banking industry, especially in rural areas, where officials are allegedly demanding bribes in order to execute loans under government programs. When attempting to obtain their legitimate payments, farmers and small borrowers frequently encounter exploitation by crooked officials and middlemen.
According to CBI officials, the probe is still underway and further information could come to light. It's possible that additional officials are engaged in similar dishonest activities. Call for Public Reports of Corruption Both the CBI and the bank administration have called on the public to report any bribery demands made by bank officials in the wake of this case.
Authorities have promised that dishonest staff will face harsh consequences. It is anticipated that this crackdown will send a powerful message and make those engaged in such immoral actions fearful. Concerns over the integrity and transparency of banking operations have also been brought up by the case, particularly in rural areas where farmers depend on loans to make a living. The action taken by the CBI is regarded as an important milestone in the fight against corruption.
FBOIOA launches ‘Sahayya’ scheme to provide interest-free financial assistance to officers
A unique relief program called "FBOIOA Sahayya" has been launched by the Federation of Bank of India Officers' Associations (FBOIOA) to provide interest-free financial aid to officers who have had their salaries drastically reduced as a result of perquisite tax deductions. The program's goal is to give officers who had significant tax deductions in February 2025 and whose net salary was less than Rs.20,000 instant financial support.
Public sector banks have recently started taxing the perks that officers are provided. Benefits offered to bank employees include low-interest loans. For instance, the average person's car loan interest rate is 9%. Bank employees receive a 5.5% loan rate.
Because bank employees pay low interest rates, they can save money on loans, which is considered advantageous. Bank workers are now required to pay taxes on this perquisite. This indicates that tax will be paid on the amount that differs because of the different interest rates. If the general public pays Rs. 1000 in interest on a car loan while bank employees pay Rs. 700, the bank employees must pay tax on the Rs. 300 difference.
Financial distress resulted from the Bank of India's officers receiving drastically reduced or no pay in February 2025. Nearly 1,400 officers reportedly have net salary credits of less than Rs. 20,000 as a result of high tax deductions applied by the bank.
In response, the FBOIOA has been negotiating with bank management to find a long-term solution. However, to offer immediate relief, the federation has launched this interest-free advance scheme for affected officers.
Who is eligible for the scheme?
To apply for financial assistance under the Sahayya scheme, an officer must meet the following criteria:
* Must be an active FBOIOA member.
* Net salary for February 2025 should be below Rs.20,000, primarily due to perquisite tax deductions.
* Application process and required documents
* Eligible officers need to submit an application form (Annexure-1) through their Unit General Secretary along with the following documents:
1. A copy of the February 2025 salary slip showing a net salary below Rs.20,000.
2. Five post-dated cheques (PDCs) of Rs.10,000 each, drawn in favor of the respective unit.
Deadline for application submission: March 7, 2025.
Disbursement and repayment of financial assistance
Under the FBOIOA Sahayya scheme, officers will receive ₹50,000 as an interest-free financial advance, which will be disbursed in two equal installments:
Rs.25,000 as the first installment upon approval of the application.
Rs.25,000 as the second installment in the following month.
The repayment will begin from May 2025, with officers required to repay the total amount in five equal monthly installments of Rs.10,000 each.
Federation’s commitment to officer welfare
The FBOIOA has assured officers that discussions with bank management are ongoing to prevent such financial distress in the future. While the Sahayya scheme serves as a short-term relief measure, the federation remains committed to finding a long-term solution for perquisite tax deductions affecting officers’ salaries.
Officers facing financial difficulties are encouraged to apply for the scheme before March 7, 2025, to avail of this support.
Bank Employee Suicide, Family Alleges Workplace Harassment
A senior ICICI Bank employee, Vivek Samdarshi, allegedly died by suicide in Bengaluru, with his family accusing top bank officials of workplace harassment and excessive work pressure. Concerns regarding toxic work environments in corporate settings have been raised by the incident.
Vivek Samdarshi, the deceased, was the Regional Head of Sales at ICICI Bank and had been working with the bank for over five years. His family claims that he was under immense stress due to alleged workplace harassment and unrealistic performance expectations set by his seniors.
His elder brother, Vikash Samdarshi, has formally submitted a police case at Thalaghattapura Police Station, naming Raghu Kumar (Regional Head, ICICI Home Loan Department) and John Joseph (Zonal Head, ICICI Bank Home Loan Department) as the individuals allegedly responsible for abetting his suicide.
According to the complaint, Vivek had constantly confided in his family about the intense strain and ongoing humiliation he was enduring at work. Raghu Kumar, according to his brother, made demeaning comments, telling Vivek, "If you can't perform, you should die." John Joseph is accused of encouraging such toxic behavior instead of addressing these issues, which made Vivek's conditions worse.
The tragedy transpired in the early hours of March 7, 2025. Around 3 am, Vikash Samdarshi received a frightening phone call, notifying him that his brother was in critical condition. Despite prompt medical attention, Vivek succumbed to his injuries later that day. He was reported dead at 11:30 pm at DHEE Hospital.
The police have registered a case and are currently investigating the allegations against the bank officials. ICICI Bank hasn't yet released an official statement about the incident or the family's allegations, though.
Anna Sebastian Perayil, a 26-year-old employee of Ernst & Young in Pune, committed suicide a few months prior to this tragic incident. In public, Anna's mother had claimed that her daughter's death was brought on by a "excessive workload." Ernst & Young offered their sincere condolences after the incident and reaffirmed their commitment to improving working conditions in all of their Indian offices.
Vivek Samdarshi’s story has once again raised serious questions about job stress, harassment, and mental health difficulties in corporate organizations. According to experts, businesses should be proactive in preventing toxic workplace cultures and offering high-pressure workers mental health support.
The investigation into Vivek’s death is ongoing, and his family continues to demand strict action against those responsible.
Banks must continue to innovate & transform: FM
On Friday, Nirmala Sitharaman, the finance minister, urged banks to embrace innovation and digital transformation, highlighting the necessity of adjusting to shifting consumer demands and technology breakthroughs.
She made the following statement during a State Bank of India (SBI) ceremony when she electronically opened 70 new branches and 501 female customer service locations nationwide: "With a legacy spanning 218 years, SBI symbolises resilience, trust, and a relentless digital-first approach."
She emphasized that through its efforts in digital banking, financial inclusion, and rural development, SBI has had an impact on society in addition to its financial success. In order to keep its position as the industry leader, she urged SBI to keep embracing technology and sustainability.
"The banking industry needs to keep innovating and taking the lead as the world changes quickly. "I have faith that SBI will be able to handle the situation," she stated.
Sitharaman pointed out that the banking industry in India is growing in spite of a shifting regulatory landscape and heightened competition from fintech companies and other newcomers. "Institution like SBI must continue to innovate with the rise of tech-savvy customers and their demand for personalized, on-the-go banking," she stated, adding that change should be viewed as a continuous process.
The minister also emphasized the bank's support to economic growth and its role in carrying out a number of significant government programs.
Bank of India(BOI) Specialist Officer (SO) Recruitment 2025 for 180 Posts
Bank of India (BOI), a prominent public sector bank, has released a notification for the recruitment of Specialist Officers (SO) across various disciplines up to Scale IV. Eligible candidates can submit their online applications from March 8, 2025, to March 23, 2025.
Bank of India SO Recruitment 2025 Overview
| Organization | Bank of India (BOI) |
| Advt. No. | Project No. 2024-25/1 |
| Post Name | Specialist Officer (SO) |
| Vacancies | 180 |
| Job Location | Across India |
| Mode of Application | Online |
| Last Date to Apply | 23 March 2025 |
| Category | Online Exam and/or Interview |
| Official Website | www.bankofindia.co.in |
Bank of India SO Recruitment 2025 Important Dates
- Online Application Start Date: 8 March 2025
- Last Date to Apply: 23 March 2025 (till 11:59 PM)
- Last Date for Fee Payment: 23 March 2025
- Exam Date: To be released
Bank of India SO Recruitment 2025 Application Fees
- General / Others: ₹850/-
- SC / ST / PWD: ₹175/-
- Mode of Payment: Online
Bank of India SO Recruitment 2025 Age Limit
- Minimum Age: 25 Years
- Maximum Age: 32-35 Years (Post Wise)
- Age Limit as on 01/01/2025
- The age relaxation will be given as per the rules.
Bank of India SO Recruitment 2025 Educational Qualifications
| Post Name | Qualification |
|---|---|
| Specialist Officer | Check Notification |
Bank of India SO Recruitment 2025 Vacancy Details
| Post Name | Vacancies |
|---|---|
| Specialist Officer | 180 (UR-77, EWS-15, OBC-49, SC-24, ST-15) |
Bank of India SO Recruitment 2025 Selection Process
The selection process for Bank of India SO Recruitment 2025 will consist of:
- Written Exam
- Personal Interview
- Document Verification
- Medical Examination
Bank of India SO Recruitment 2025 Exam Pattern
| Subject | Questions | Marks | Duration |
| English Language | 25 | 25 | 30 Mins |
| Professional Knowledge Relevant to the Post | 100 | 100 | 60 Mins |
| General Awareness with special reference to Banking Industry | 25 | 25 | 30 Mins |
| Total | 150 | 150 | 2 Hours |
Bank of India SO Recruitment 2025 Notification PDF & Apply Online
PSU banks increase their market share and surpass private lenders in loan growth
According to a report by Mint, India's public sector banks have surpassed their private sector counterparts in terms of lending growth, reclaiming some of the market share they had lost during the previous few years. In December, the loan book of public sector banks increased by 12.4% year over year, while that of private banks increased by 10.5%. As of December 31, 53.5 percent of all loans were disbursed by state-run banks. The report, which referenced RBI data, stated that this is greater than their market share of 53.2% at the end of the September quarter. According to the survey, private lenders' market share fell from 41.8 percent in September to 41.5 percent in December.
Following years of decline, PSU banks' market share has somewhat increased. In June 2017, its market share was 66.7 percent; by June 2024, it had fallen to 53.1 percent. According to the research, this might have been exacerbated by its deteriorating asset quality and capital worries.
Public sector banks performed well in the first three quarters of the current fiscal year, according to the finance ministry on February 6. Their April-December net profit of Rs 1.29 lakh crore represented a 31.3 percent increase over the same period last year. With the net NPA ratio at 0.59 percent, the ministry also reported an improvement in asset quality.
According to the ministry, PSBs are well-capitalized and positioned to satisfy the credit needs of all economic sectors, with a focus on the infrastructure, MSME, and agricultural sectors.
Improved systems and procedures for credit discipline, the identification and resolution of stressed assets, responsible lending, better governance, financial inclusion programs, and technology adoption are just a few of the outcomes of policy and procedural changes.
These actions resulted in the banking industry's overall stability and long-term financial health, which is seen in the PSBs' current performance.
