Feature Post

UFBU Calls Off Nationwide Bank Strike on 24th and 25th Mar 2025 After Assurances from Finance Ministry and IBA

I n a significant development on March 21, 2025, the United Forum of Bank Unions (UFBU) has decided to call off their two-day nationwide strike, which was originally planned for March 24 and 25. This decision was made after the UFBU received positive reassurances from both the Finance Ministry and the Indian Banks’ Association (IBA) regarding their key demands. The banking unions, under the umbrella body of UFBU, represent employees from nine major unions across the country, including AIBEA, AIBOC, NCBE, AIBOA, and BEFI. The unions had earlier called for the nationwide strike to protest against several ongoing issues that they believe impact the welfare and job security of bank employees. Key Issues Behind the Proposed Strike The strike was initially called by UFBU to address a range of pressing concerns, some of which have been lingering for years. The union's main demands included: Five-Day Workweek for Bank Employees:  One of the most anticipated demands was the implementation o...
0

Quick Refernce Guide for CAIIB-Retail Banking Part 1 of 5

1. Business Process Structure in Retail Banking
a.   Horizontally Organized Model – Different process model for different products offering end to end solution product wise.

b.   Vertically Organized Model – Provides functionality across products with customer database orientation and centralized customer data.

c.   Predominantly Horizontally Organized Model – Mostly Product oriented with common customer information for same product.

d.   Predominantly Vertically Organized Model – Common Information is available for most of the products

2.   Segmentation of Customer based on their income levels
Income Levels(Rs. Lakhs)
Customer Segment
2-10
Mass Market
10-50
Mass Affluent
50-400
Super Affluent
400-4000
HNW (High Net Worth)
4000-120000
Super HNW
>120000
Ultra HNW

3.   Maslow’s Theory and Customer needs – Maslow has defined five needs of individuals in their various stages of life. The need start from the basic requirement and move up during the life stage progression.

Sl No
Needs as per Maslow
Banking Product that can be offered to Customer
1
Physiological Needs
Core Banking A/c, Personal Accident cover, Housing Loan.
2
Security /Safety Needs
Reccuring Deposit, Fixed Deposit, Tax Planning Products like Insurance and Mutual Fund, Life insurance Endowment Plan with low premium, long tenor and high maturity amount.
3
Social Needs
Consumer/Personal/Home/Car Loans, ULIP, SIP, Mutual Fund, Retail Gold Coins, Health policies for self and family, loans for professional, Insurance cover to above loans.
4
Esteem Needs
Term Insurance, Spl. Term Deposit, 2nd Housing Loan, Home Improvement and Home décor loan.
5
Self Actualization Needs
Pensioners Loan, Retirement Solution in banking and pension plan in Insurance, Sr. Citizen Term Deposit.


 Part 2       Part 3       Part 4     Part 5

Comments

Post a Comment