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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Depreciation

Depreciation – Loss in Value. A building loses value due to deterioration in its physical condition as a result of usage, effect of climate condition, poor structural design or workmanship. It is used for the purpose of accounting.

Usually adopted method to calculate depreciation
a)   Straight Line Method – Depreciation is allocated uniformly over the life of the property.
Formula   -   D=C-S/n
Where, D – Annual Depreciation,
C – Original Cost,
S- Salvage Value (Value of property at the end of useful life),
n- Life of building in years.

b)   Written Down Method – In this method, it is assumed that property will lose value by a constant percentage of its value at the beginning of the year. So, amount of depreciation goes on reducing every year.

It is also called Declining Balance Method and generally adopted by industrial units because of lower income tax advantage.

Formula – WDV = C (1-p)n
Where, C – Original Cost
n- Life in years

p – Percentage

 More Related Topics

        Retail Banking - Valuation of Real Property           
        FSI/FAR     
        YP (Year Purchase)

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