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Bank unions have decided to go ahead with the nationwide strike called for Aug 22 with the conciliatory meeting convened by the CLC not yielding any tangible  results on their demands. “We wanted an assurance that the PM and the FM will give a statement that there will be no privatisation of banks and also no mergers of PSBs will be carried out. As no such assurance came at today’s conciliation meeting, we have decided to go ahead with August 22 strike”, AIBEA General Secretary,  C. H. Venkatachalam told. At today’s conciliation meeting, IBA was represented by S.K. Kakkar, Senior Advisor-HR.  Venkatachalam said that he had at today’s meeting sought an assurance on recovery of loans from large corporate houses, but nothing came the way of the bank unions. On privatisation and mergers, the Governmen t has been contradicting the RBI Governor and Deputy Governor, according to Venkatachalam.
-Business Line

The Centre has changed its nominee director in 4 PSBs, bringing in 4 Joint Secretary level officials as ‘Govt nominee director’ in these banks. The 4 PSBs where the Govt nominee director has been changed are Allahabad Bank, Punjab & Sind Bank, United Bank of India and Central Bank of India.  In the case of Allahabad Bank, the Centre has appointed Rajeev Ranjan, Joint Secretary in the Depat of Expenditure as its nominee director in the place of Anshuman Sharma For Punjab & Sind Bank, S Selvakumar, Joint Secretary in Department of Economic Affairs has been appointed as Government nominee director in the place of S R Mehar,  Sameer Kumar Khare, Joint Secretary in the Department of Economic Affairs has been appointed as Government nominee director in United Bank of India in the place of A K Dogra and In Central Bank of India, the Centre has appointed Govind Mohan, Joint Secretary in the Department of Economic Affairs as Government nominee director in the bank in place ofSaurabh Garg for this Board level position.
-Business Line

The RBI will soon issue Rs 50 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Governor Urjit R. Patel, the central bank said in a press release issued today. The new note has a motif of Hampi with Chariot on the reverse, depicting the country's cultural heritage. The base colour of the note is fluorescent blue. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse. Dimension of the banknote will be 66 mm x 135 mm.
-Economic Times

SBI accounted for the largest share of about 22.7% in the total NPAs of 38 banks (aggregating ₹8,29,338 crore) as of June-end 2017,according to CARE Ratings’ analysis of the first quarter results of 38 banks. SBI, PNB, BOI, IDBI Bank, and BOB accounted for 47.4%  in the total NPAs as of June-end 2017. Among the top 20 banks, according to GNPAs in absolute terms, 18 are PSBs and only 2 are private sector banks — ICICI Bank and Axis Bank. These two private sector banks have a combined share of 7.9% in total NPAs.
-Business Line

The Finance Ministry has issued guidelines for mandatory installation of energy-efficient appliances in all Central Government buildings across the country. It has said that usage of LED-based lightings and energy-efficient cooling equipment such as fans and air conditioners in government buildings will lead to savings in the long run through reduction in energy consumption.  Under the programme, EESL intends to bring in investment of around ₹1,000 crore covering more than 10,000 large government/private buildings by 2020.
-Business Line

India has no plans to single out Chinese investment proposals in the country by going slow on security clearance given to companies from that nation, notwithstanding the ongoing Sino-Indian border row, a Home ministry official said. A ministry spokesperson said the issue of putting on hold security clearance given to Chinese investment proposals was "not under any consideration".

The country's foreign exchange reserves rose by USD 163.8 million to touch a new life-time high of USD 393.612 billion in the week ended Aug 11, helped by rise in FCAs, the  RBI data showed.

Vishal Sikka, the chief executive brought in to turn around Infosys 3 years ago, resigned suddenly today, blaming a "continuous drumbeat of distractions" and a long-running row with founders over the tech firm's strategy.The co's board came out in support of Mr Sikka and said in a statement that founder and former-chairman Narayana Murthy's continuous assault was the main reason for Mr Sikka's resignation.

BSNL today unveiled its mobile wallet  to enable one-tap bill payment. The hBSNL wallet will enable people to pay bills, recharge their phone connections and pay for their daily purchases.
-Economic Times

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(Compiled by Canara Bank Officers' Union - Team Kerala - Affiliated to All India Bank Officers' Association)

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