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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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JAIIB - Principles and Practices of Banking Practice Set 5

1. Number used to operate ATM card in ATM machine is
   a) Personal Identifiation Number
   b) Personal Introuction Number
   c) Permanent Account Number
   d) Personal Identity Number

    Ans. Personal Identifiation Number

 2. Electronic Fund Transfer enables
   a) Transfer of funds through ECS
   b) Transfer of funds within and across cities
   c) Exchange of financial messages among intra-bank and inter-bank
   d) Eletronic clearance of cheque through CTS

    Ans. Transfer of funds within and across cities

 3. Which of the following is not the right of a bank against its customer?
   a) Right to charge interest
   b) Right of lien
   c) Right to set off in case of garnishee order
   d) Right to set off in the account containing trust fund

    Ans. Right to set off in the account containing trust fund

 4. Which one is final stage of product development
   a) Idea Screening
   b) Product testing 
   c) Advertising for sale
   d) Commercial Launch

    Ans. Commercial Launch

 5. Name of device used for customer signature verification
   a) Scanner
   b) Spanner
   c) Signature Device
   d) Light scanner

    Ans. Scanner

 6. Charge created on LIC policy is 
   a) Mortgage
   b) Assignment
   c) Pledge
   d) Hypothecation

    Ans. Assignment

 7. Which one is not Public Sector Banks
   a) Union Bank of India
   b) Central Bank of India
   c) Canara Bank
   d) ICICI Bank

    Ans. ICICI Bank

 8. Long Form Audit Report (LFAR) is prepared and submitted by
   a) Statutory auditors 
   b) Internal inspectors
   c) Concurrent auditors
   d) RBI inspectors

    Ans. Statutory auditors 

 9. Loan for fish rearing is covered under Prirority Sector as ----------- advances
   a) Direct Agriculture
   b) Indirect Agriculture
   c) Self Employment Scheme
   d) Allied to indirect Agriculture    

   Ans. Direct Agriculture

 10. Cash Budget is a statement of
   a) Cash-Non cash funds
   b) Cash receipt and Cash payments
   c) Another name for cash flow
   d) None       

   Ans. Cash receipt and Cash payments

JAIIB - Principles and Practices of Banking - Practice Set 1

JAIIB - Principles and Practices of Banking - Practice Set 2

JAIIB - Principles and Practices of Banking - Practice Set 3


JAIIB - Principles and Practices of Banking - Practice Set 4

JAIIB - Principles and Practices of Banking - Practice Set 6

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