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

7 Categories of Operation Risk Loss under Basel II

Seven Categories of Operation Risk Loss Incident as Basel II

1. Internal Fraud – misappropriation of assets, tax evasion, intentional mismarking of positions, bribery

2. External Fraud – theft of information, hacking damage, third-party theft and forgery

3. Employment Practices and Workplace Safety – discrimination, workers compensation, employee health and safety

4. Clients, Products, and Business Practice – market manipulation, antitrust, improper trade, product defects, fiduciary breaches, account churning

5. Damage to Physical Assets – natural disasters, terrorism, vandalism

6. Business Disruption and Systems Failures – utility disruptions, software failures, hardware failures

7. Execution, Delivery, and Process Management – data entry errors, accounting errors, failed mandatory reporting, negligent loss of client assets

Comments

Post a Comment