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NEO Banking - A Future Digital Banking, Development Scope, Threat and Challenges

What is Neo Banking? NEO banks are the banks which has no physical branches. NEO Banks are digital only financial institutions that operate exclusively online through websites and mobile apps.  The financial services industry has undergone massive transformations from manual to Core Banking and now digital without any physical branch. the evolution of banking has been marked by innovations aimed at making financial services more accessible, convenient, and efficient.   NEO Banks offers services like below: Account Management: Account Opening, Checking, Savings, and Money Transfers Loan Services: Quick and seamless loan approvals Low Fees: Minimal or no fees due to lower operational costs Tech Features: Budget tools, instant payments, and real-time alerts Why Are Neo Banks becoming popular now? Convenience : 24/7 mobile banking—no waiting in lines. Lower Fees : No hidden charges, free international transfers, and zero maintenance fees. User-Friendly Apps : Seamless, f...
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Bank Pay Revision (10th Bipartite Settlement)

Long waited 10th Bipartite settlement has been done finally and get signed on 25th may 2015 between IBA and bank unions that was due from Nov 2012. Employees of all PSU banks will get benefitted from the settlement. They will get 15% hike on pay slip that includes benefit on basic, HRA, CCA, special area allowances, Hill and fuel allowance, Stagnation benefits. A new head in salary slip, Special allowance similar to grade pay has been introduced that will be applicable for DA also. Medical through cashless card using group insurance has been introduced. Paternity leave also has been introduced in this bipartite settlement.

Click on below links to get more details:

1. List of banks get benefited from 10th bipartite settlement

2. Revised New Scale :               Clerical Grade                    Officers

3. City Compensatory Allowance

4. House Rent Allowance

5. Special Pay

6. Special Allowance

7. Professional Qualification Pay

8. Fixed Personal Pay (FPP)

9. Medical Insurance Scheme




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