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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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Retail Banking – > Lender’s Appraisal Procedure

Three major phases of loan origination –
Information Acquisition – Banks collect fees for processing, documentation and administration from customer.

Credit Appraisal and Sanction – Credit officer scrutinize the information made available to them and arrive at the loan eligibility and fix the terms and conditions to be offered to the customer. Two key techniques are used for this purpose. i) Confirming that the customer satisfies the basic norms an policies ii) By applying weighted risk based credit scoring

Disbursement – Either a cheque for the sanctioned amount is issued to the customer or the amount is transferred to the customer account. A repayment schedule stating the amortization is prepared for the customer.

  • ·         Both fixed rate loans and floating rate loans may be offered.
  • ·    The house/ flat should be insured against the risk of fire/ riots/ earthquake / lightening floods etc.
For More Related Topics Click on
Moratorium
Power of attorney
Equated Monthly Installment (EMI)
Check-off Facility
Loan Repayment through Post Dated Cheques (PDCs)

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