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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...
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Quick Refernce Guide for CAIIB-Retail Banking Part 4 of 5

    10.   Future Value of Money

FV = PV (1+r)n

FV = Future Value, PV = Present Value
n – Period,     r – Rate of Interest

ex. If Rs 10000 will be invested for 5 years at interest rate 8% p.a find the future value.

FV = PV (1+r)n
     = 10000(1+8/100)5
= 10000(1+0.08)5
=14693

·         Same value can be calculated using Future Value Table.
FV = PV * Future Value Factor

11.   Future Value of Ordinary Annuity – When payments are made/ received at the end of each period.
                F = A [(1+i)n -1/ i]
      Where F = Future Value
                A = Annuity
                i – Interest rate
                n - Term


12.   Future Value of Annuity Due – Payment are made/ received at the beginning of each period.
                F = A[(1+i)n – 1/ i](1+r)
       Where F = Future Value
                A = Annuity
                i – Interest rate
                n – Term
·         Same value can be calculated using annuity table
  Future Value of Annuity = Annuity * CV Factor

     13.   Present Value

PV = FV / (1+r)n

Using Present Value Factor PV = FV * Present Value Factor



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