ED arrests Samajwadi Party leader in Rs.750 Crore Bank Fraud Case with 7 banks led by BOI

 Vinay Shankar Tiwari, a prominent Samajwadi Party (SP) leader and the son of the late powerful politician Hari Shankar Tiwari, was taken into custody by the Enforcement Directorate (ED) on Monday in relation to a huge bank fraud case worth ₹750 crore. Following several raids by ED teams at several properties connected to him and his business, Gangotri Enterprises Ltd., he was arrested from Lucknow. 

 The arrest is a component of a broader probe into financial irregularities by Vinay Shankar Tiwari and his family's business, Gangotri Enterprises. Gangotri Enterprises obtained loans totaling ₹1,129.44 crore from a consortium of seven banks, led by the Bank of India, according to ED sources. Nevertheless, around ₹750 crore of this sum was not repaid.

The Enforcement Directorate has alleged that the company diverted and misused the loan amount, violating banking norms and causing a huge loss to the banks. The money was allegedly siphoned off for personal and unauthorized purposes, leading to a case under the Prevention of Money Laundering Act (PMLA).

ED teams searched ten separate locations in India connected to Tiwari and his company on the day of the arrest. Five locations in Lucknow, two in Noida and Gorakhpur, and one each in Delhi and Mumbai were among them. Involving almost a dozen teams, the action began early in the morning. 

 Several significant documents, including those pertaining to properties valued at crores of rupees, were found during the raids. According to ED personnel, substantial evidence of financial misconduct was discovered within a few hours of the search operation.

Despite receiving several summons from the Enforcement Directorate, Vinay Shankar Tiwari reportedly failed to appear before investigators. This non-cooperation further raised suspicion and led to intensified action. Meanwhile, the Central Bureau of Investigation (CBI) had already registered a case against Gangotri Enterprises and its promoters based on complaints from the banks involved.

The ED took over the case under money laundering charges after the CBI’s FIR. So far, the ED has seized property worth about ₹100 crore in connection with this fraud.

One prominent character in Uttar Pradesh politics is Vinay Shankar Tiwari. In the past, he served as the representative for Gorakhpur's Chillupar constituency, which had been occupied by his father. Prior to joining the Samajwadi Party, he was elected as an MLA on a ticket from the Bahujan Samaj Party (BSP). He did not, however, win the 2022 Assembly election. 

According to reports, the ED is getting ready to submit a formal chargesheet against him because his business and political background is currently being investigated. Political circles have been rocked by this arrest, and as the ED looks into the assets and financial transactions connected to Gangotri Enterprises, the inquiry is likely to go even more extensive.

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One RRB in One State plan will be implemented soon

 

The "One State-One RRB" strategy will shortly be put into action by the Finance Ministry. This will save expenses, improve operating efficiency, and cut the number of Regional Rural Banks (RRBs) from forty-three to twenty-eight. 

Bank loan Sources claim that the fourth phase of mergers will shortly start, with the majority of the consolidation's foundation already laid. According to the ministry's plan, 15 RRBs that are active in different states will combine. Bihar, Gujarat, Jammu & Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan are among the states named for consolidation, along with Andhra Pradesh, which currently has the most RRBs (4), Uttar Pradesh, and West Bengal (3 each).

Further consolidation in Telangana has been made possible by the completion of the asset and liability split between Telangana Grameena Bank and Andhra Pradesh Grameena Vikas Bank (APGVB). Bank loan These banks have already undergone capital infusions in order to get ready for the mergers. 

 An important turning point for RRBs occurred in the fiscal year 2021–2022, when the Center promised to contribute Rs 5,445 crore over two years to fortify their capital basis. Against this environment, RRBs posted their highest-ever consolidated net profit of Rs 7,571 crore in 2023–2024, indicating notable performance improvements. As of March 31, 2024, their capital adequacy ratio also hit a record 14.2%, while their asset quality, as determined by Gross Non-Performing Assets (GNPA), was at a decade-low 6.1%.

Through three stages of merger, the number of RRBs decreased from 196 to 43 by 2020–21 as a result of the structural consolidation process, which started in 2004–05. RRBs were founded in accordance with the Regional Rural Banks Act of 1976 in order to offer small farmers, agricultural laborers, and rural craftspeople financial services and financing. 

In 2015, the Act underwent a significant revision that permitted RRBs to obtain funding from sources other than sponsor banks, state governments, and the federal government. Bank loan At the now, sponsor banks own 35% and state governments own 15% of each RRB, while the Central Government owns 50%. According to the modified law, the combined stock of the sponsor public sector banks and the Center cannot drop below 51%, even with future stake erosion.

As of March 31, 2024, the 43 RRBs operate a network of 22,069 branches across 26 states and 3 Union Territories—Puducherry, Jammu & Kashmir, and Ladakh—serving 700 districts. These banks are increasingly embracing technology, with more RRBs offering digital services to their rural customer base.

RRB Proposed Merger List

State	Bank Name	Sponsor Bank	Proposed
			Sponsor Bank
Andhra Pradesh	Andhra Pragathi Grameena Bank	Canara Bank	Canara Bank
	Chaitanya Godavari Grameena Bank	Union Bank of India
	Saptagiri Grameena Bank	Indian Bank
	Andhra Pradesh Grameena Vikas Bank	State Bank of India
Telangana	Andhra Pradesh Grameena Vikas Bank	State Bank of India	State Bank of India
	Telangana Grameena Bank	State Bank of India
Assam	Assam Gramin Vikash Bank	Punjab National Bank	Punjab National Bank
Arunachal Pradesh	Arunachal Pradesh Rural Bank	State Bank of India	State Bank of India
Bihar	Uttar Bihar Gramin Bank	Central Bank of India	Punjab National Bank
	Dakshin Bihar Gramin Bank	Punjab National Bank
Chhattisgarh	Chhattisgarh Rajya Gramin Bank	State Bank of India	State Bank of India
Gujarat	Saurashtra Gramin Bank	State Bank of India	Bank of Baroda
	Baroda Gujarat Gramin Bank	Bank of Baroda
Haryana	Sarva Haryana Gramin Bank	Punjab National Bank	Punjab National Bank
Himachal Pradesh	Himachal Pradesh Gramin Bank	Punjab National Bank	Punjab National Bank
Jharkhand	Jharkhand Rajya Gramin Bank	State Bank of India	State Bank of India
Jammu & Kashmir	J&K Grameen Bank	J&K Bank Ltd.	J & k Bank
	Ellaquai Dehati Bank	State Bank of India
Karnataka	Karnataka Gramin Bank	Canara Bank	Canara Bank
	Karnataka Vikas Grameena Bank	Canara Bank
Kerala	Kerala Gramin Bank	Canara Bank
Maharashtra	Maharashtra Gramin Bank	Bank of Maharashtra	Bank of Maharashtra
	Vidharbha Konkan Gramin Bank	Bank of India
Madhya Pradesh	Madhya Pradesh Gramin Bank	Bank of India	Bank of India
	Madhyanchal Gramin Bank	State Bank of India
Manipur	Manipur Rural Bank	Punjab National Bank	Punjab National Bank
Meghalaya	Meghalaya Rural Bank	State Bank of India	State Bank of India
Mizoram	Mizoram Rural Bank	State Bank of India	State Bank of India
Nagaland	Nagaland Rural Bank	State Bank of India	State Bank of India
Orissa	Utkal Grameen Bank	State Bank of India	Indian Overseas Bank
	Odisha Gramya Bank	Indian Overseas Bank
Punjab	Punjab Gramin Bank	Punjab National Bank	Punjab National Bank
Puducherry	Puduvai Bharathiar Grama Bank	Indian Bank	Indian Bank
Rajasthan	Baroda Rajasthan Kshetriya Gramin Bank	Bank of Baroda	Bank of Baroda
	Rajasthan Marudhara Gramin Bank	State Bank of India
Tamilnadu	Tamil Nadu Grama Bank	Indian Bank	Indian Bank
Tripura	Tripura Gramin Bank	Punjab National Bank
Uttar Pradesh	Aryavart Bank	Bank of India	Bank of Baroda
	Baroda UP Bank	Bank of Baroda
	Prathama UP Gramin Bank	Punjab National Bank
Uttarakhand	Uttarakhand Gramin Bank	State Bank of India	State Bank of India
West Bengal	Bangiya Gramin Vikash Bank	Punjab National Bank	Punjab National Bank
	Paschim Banga Gramin Bank	UCO Bank
	Uttar Banga Kshetriya Gramin Bank	Central Bank of India

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BOI to Absorb Full Perquisites Tax After FBOIOA’s effort

 In a major relief for its employees, the Bank of India (BOI) has decided to absorb 100% of the perquisites tax liability arising from concessional and interest-free loans provided to staff members. The move comes after persistent efforts by the Federation of Bank of India Officers' Association (FBOIOA).

Bank of India absorbs full perquisites tax after Federation of Bank of India Officers’ Association’ s push. Relief granted, setting a strong precedent for employees rights advocacy.

The decision is set to benefit nearly 53,000 BOI employees, offering much-needed financial relief.

The Federation of Bank of India Officers’ Association (FBOIOA) played a decisive role in ensuring this breakthrough, spearheading relentless negotiations and sustained advocacy. Over three months of persistent representations and high-level dialogues, the association successfully convinced the management to implement this employee-friendly decision, shielding the workforce from an unexpected financial burden.

In an exclusive conversation with Nilesh Pawar, General Secretary of FBOIOA, lauded the move, stating, “The decision to completely absorb the perquisites tax liability is a significant boost to employee dignity and financial security.” 

Highlighting the urgency of the demand and its resolution, he added, “The tax deductions, which began in January 2025, drastically reduced salaries, leaving employees with nominal pay—sometimes as low as a few hundred or thousand rupees. This triggered widespread distress. To counter the impact, FBOIOA launched ‘Sahayya,’ a special interest free advance of Rs 50,000 offering immediate relief to affected officers.”

According to FBOIOA, over 1,400 officers received less than ₹20,000 as salary for February 2025, with some even facing nil salary credits after tax deductions—causing severe financial distress.

Bank of India is now the fourth Public Sector Bank to fully absorb the perquisites tax, following State Bank of India, Union Bank of India, and Bank of Baroda. In contrast, Punjab National Bank opted to bear only 50% of the liability.

Bank of India's decision follows sustained efforts by FBOIOA to address the tax burden on employees, aligning with similar measures taken by other public sector banks.

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Expected Bank DA from May, 2025

Expected DA calculation updated on 01-04-25 on the basis of CPI announced by the GOI for the month of Feb.'25 and with the assumptions of CPI for the month of Mar.'25 as mentioned hereunder.

The CPI for the month of February, 2025 announced on 01-04-2025 as 142.80 points decreased by 0.40 points only from 143.20 points in January, 2025.

1. On assumptions if there is a decrease of 0.40 points of CPI in the month of Mar.'25, on this assumption, we may expect that there would be a decrease of 1.43% DA only and the total tentatively revised DA would be 19.77% from May'25 in terms of 12th BPS.

2. On assumptions if there is no increase/decrease of any points of CPI in the month of Mar.'25, on this assumption, we may expect that there would be a decrease of 1.30% DA only and the total tentatively revised DA would be 19.90% from May'25 in terms of 12th BPS.

3. On assumptions if there is an increase of 0.40 points of CPI in the month of Mar.'25, on this assumption, we may expect that there would be a decrease of 1.16% DA only and the total tentatively revised DA would be 20.04% from May'25 in terms of 12th BPS.

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This PSU Bank Union announce Strike on 21 and 22 April

The bank's most recent transfer policy has drawn harsh criticism from the All India UCO Bank Officers' Federation (AIUCBOF), which describes it as "anti-officer" and a willful attempt to restrict workers' rights. General Secretary Sandeep Chowbey has written to the Managing Director and CEO of UCO Bank, requesting that the updated transfer policy, which was issued on March 29, 2025, be immediately withdrawn and that officers' employment conditions be improved.

Frustrated by the lack of response from the management, AIUCBOF has announced a nationwide organizational agitation starting April 2, 2025, and a two-day strike on April 21-22, 2025. The union has warned that further action may be taken if their grievances are not addressed. The federation has raised several objections regarding the transfer policy, such as:

• Unilateral Changes: The policy was revised twice in five months without incorporating officers’ inputs.
• Deterioration of Service Conditions: Key provisions, such as repatriation rules, transfer exemptions, and work-life balance considerations, have been altered against officers’ interests.
• Anti-Lady Officer Provisions: AIUCBOF has accused the bank of not implementing transfer benefits for female officers in the true spirit of the policy.
• Reduction in Maximum Retention Period: The allowed tenure has been reduced from 13 years to 8 years, causing distress among officers.
• Unfair Performance-Based Transfers: The bank has linked punishment transfers to performance, a move AIUCBOF calls subjective and prone to misuse.

Attack on Trade Unions Alleged

The union has also accused the bank of attempting to weaken trade unions by reducing exemptions for office bearers and introducing arbitrary restrictions on union leaders’ tenure. AIUCBOF warns that this move threatens the democratic representation of officers within the bank. Apart from the transfer policy, AIUCBOF has highlighted other longstanding issues, including:

• Acute staff shortages, forcing officers to perform clerical duties.
• Excessive work hours and unpaid overtime leading to health hazards.
• Workplace harassment, including misbehavior from senior management and punitive transfers for raising concerns.
• Lack of financial relief, such as TDS absorption on perquisites, despite other banks providing this benefit.

AIUCBOF has urged UCO Bank to reconsider the policy and hold discussions with officers before implementing any changes. The federation maintains that officers in Scales I, II, and III are crucial in driving the bank’s business and should not be subjected to arbitrary policies that undermine their rights. With the April 21-22 strike looming, the ball is now in UCO Bank management’s court to address officers’ grievances and avoid disruption in banking services.

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IBPS Clerk Result 2025 Released, Check Selection - Vacancy wise in PSU Banks

The results of the 2025 Clerk Recruitment Exam have been made public by the Institute of Banking Personnel (IBPS).  11,830 applicants were chosen for the Clerk position.  The position was previously open for the hiring of 6,128 clerks.

IBPS Clerk Mains Result 2025 : To check scores online, candidates need to follow these steps:

Open the official website of IBPS, ibps.in.

Click on theIBPS Clerk Mains Result 2025 link available on the home page.

Enter your login details.

Submit and check your results.

Bank Wise Selected Candidates in IBPS Clerk 2025

Bank Name	Original Vacancy	Revised Vacancy
CENTRAL BANK OF INDIA	2,000	2,000
CANARA BANK	1,250	2,000
PNB	1,785	1,797
BANK OF INDIA	331	1,618
INDIAN BANK	0	1,580
BOB	0	1,200
PUNJAB & SIND BANK	522	527
BANK OF MAHARASHTRA	0	499
UCO BANK	0	384
IOB	240	225
Total	6,128	11,830

State Wise Selected Candidates in IBPS Clerk 2025

State Name	Original Vacancy	Revised Vacancy
UTTAR PRADESH	1246	2137
MAHARASHTRA	590	1353
TAMILNADU	665	1191
KARNATAKA	457	883
GUJARAT	236	756
WEST BENGAL	331	687
MADHYA PRADESH	354	630
PUNJAB	404	555
RAJASTHAN	205	408
DELHI	268	400
BIHAR	237	397
ODISHA	107	281
CHHATTISGARH	119	262
ANDHRA PRADESH	105	261
KERALA	106	244
TELANGANA	104	230
HARYANA	190	226
JHARKHAND	70	194
ASSAM	75	190
HIMACHAL PRADESH	67	140
UTTARAKHANDGOA	29	73
	35	71
J & K	20	64
TRIPURA	19	38
ARUNACHAL	10	27
CHANDIGARH	39	25
PUDUCHERRY	8	17
MANIPUR	6	14
NAGALAND	6	14
DADRA+DAMAN &DIU	5	13
SIKKIM	5	13
MIZORAM	3	11
ANDAMAN	1	10
MEGHALAYA	3	8
LADAKH	3	5
LAKSHADWEEP	0	2
TOTAL	6128	11830

Click here for notification regarding provisional allotment of CRP-CSA-XIV

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