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...
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Quick Refernce Guide for CAIIB-Retail Banking Part 3 of 5

 7.   Strategy in New Product Development
 








8.   Rule of 72 – Amount or loan will be doubled if no extra transaction will be done in this period. This period can be obtained using below formula
72/rate of interest
So, amount 5000 at interest rate 4% will become 10,000 in
72/4=18 years if no deposit/ withdraw will be done.
And loan amount 5000 at interest rate 10% will become 10,000 in
72/10 = 7.2 Years if no payment will be made.


9.   Time Value of Money – Process of converting future sums into their present equivalents is known as discounting. Compounding is used to determine the future value of present cash flow.
Frequently compounding of interest
Annually = P (1+r)  - Annual Compounding
Quarterly = P (1+r/4)4 – Quarterly Compounding

Monthly = P (1+r/12)12 – Monthly Compounding


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