Registration of Bank of India(BOI) Officers Organisation cancelled in Rajasthan

The Bank of India Officers' Organization (BOIOO-NOBO) has had its registration revoked by the Rajasthan Registrar of Trade Unions due to several irregularities, such as falsified signatures and inconsistent membership records.

The Office of the Registrar of Trade Unions, Rajasthan, has revoked the Bank of India Officers' Organization's (BOIOO-NOBO) registration, which is a major step in the banking trade union sector. Following a thorough review of documents, complaints, and statutory compliance under the Trade Unions Act, 1926, the order, dated March 25, 2026, was issued.

The organisation held Registration No. RTU-01/2022 dated 06.01.2022, which now stands cancelled with immediate effect.

The order states that complaints and supporting documentation submitted to the authority were reviewed before the decision was made. The Registrar noted that the registration was obtained in contravention of the Trade Unions Act's,1926 restrictions. 

The authority observed that the registered union did not provide a satisfactory answer throughout the hearings, even though they were given opportunities to state their position. Statements from a few people who claimed their names were added as founding members without their permission are included in the order. 

Additionally, they rejected signing any registration-related paperwork. The authority began to doubt the veracity of the documents provided during the registration process as a result of these allegations. The ruling was mostly based on the allegations of falsified signatures and unapproved name inclusion.

Inconsistencies in the membership information provided at the time of registration were discovered during examination. The stated membership strength did not correspond with the official records that were at hand. In order to reflect increased membership numbers, it was also noted that names of those connected to another union were included. 

This discrepancy was identified as a significant anomaly in the registration procedure. The organization's declaration of a bank property as its registered office without the necessary authorization or No Objection Certificate (NOC) from the bank was also highlighted by the Registrar. 

This was regarded as a violation of the Trade Unions Act of 1926's legal requirements. According to the order, the registered union received notices that gave it a chance to voice its opinions.However, no office bearers appeared before the authority, and no response was submitted to address the observations raised.

Based on the findings, the Additional Labour Commissioner & Registrar of Trade Unions, Rajasthan, exercised statutory powers under the Trade Unions Act, 1926, and ordered cancellation of the registration granted on 06.01.2022.

The cancellation has been made effective immediately.

The order appears to have been circulated to all concerned parties, including the bank’s head office. As of now, no further developments from the bank’s end have been reported.

The cancellation of BOIOO-NOBO’s registration follows documented findings related to discrepancies in membership records, alleged forged declarations, and procedural non-compliance. The order, issued on 25 March 2026, brings the registration granted under RTU-01/2022 to an immediate end.

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Bank of India(BOI) Provisional Business Figures 31 March 2026

As of March 31, 2026, the Bank of India(BOI) has published Provisional Business Figures. According to reports, the bank's total business is Rs 16.9 lakh crore.

Bank of India Provisional Business Figures 31 March 2026 (Amt Rs cr)

Particulars	31.03.2025 (Audited)	31.12.2025 (Reviewed)	31.03.2026 (Provisional)*	Y-o-Y Growth (%)
Business (Global)	14,82,588	16,27,602	16,98,026	14.53%
Deposits (Global)	8,16,541	8,87,288	9,27,460	13.58%
Gross Advances (Global)	6,66,047	7,40,314	7,70,566	15.69%
Deposits (Domestic)	7,00,298	7,65,499	8,00,682	14.33%
Gross Advances (Domestic)	5,63,550	6,29,080	6,53,441	15.95%
RAM Advances (Gross) (Domestic)	3,22,673	3,68,242	3,82,796	18.63%

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RBI Imposes Penalties on 3 PSU Banks – Union Bank of India, Bank of India(BoI) and Central Bank of India

Union Bank of India, Bank of India, and Central Bank of India are three public sector banks that have been penalized by the Reserve Bank of India (RBI). 

Union Bank of India was penalized by the RBI Union Bank of India has been fined ₹95.40 lakh by the Reserve Bank of India (RBI). The bank was penalized for violating RBI regulations pertaining to automating asset classification procedures and minimizing client liability in unauthorized electronic transactions. 

RBI discovered the following problems after reading the bank's response and hearing its justification: 

Following reports of unauthorized activities, the bank failed to credit funds to clients' accounts within ten working days. Customers could not report unauthorized transactions to the bank around-the-clock.

For certain KCC accounts, the bank employed manual intervention in system-based asset classification. 

Bank of India was fined ₹58.50 lakh by the RBI for failing to comply with regulations pertaining to Priority Sector Lending and interest on deposits. 

Following examination and analysis, RBI discovered the following problems:

For minor priority sector loans up to ₹25,000, the bank imposed additional fees (such as processing and inspection expenses). Certain term deposits were not paid interest by the bank until they were repaid after they matured. 

The Central Bank of India was fined ₹63.60 lakh by the RBI for failing to comply with KYC and basic savings account regulations. Following examination, RBI discovered:

The bank did not upload KYC details of some customers to the Central KYC Registry on time.

The bank opened multiple basic savings accounts for customers who already had such accounts.

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This PSU Bank pays PLI to MD and EDs as per new DFS PLI Scheme

In accordance with the new PLI program launched by DFS, Ministry of Finance, Government of India, Bank of Baroda has paid PLI to MDs and EDs. The government and bank unions are engaged in a cold war over the new PLI program. 

UFBU has threatened a flash strike and declared its opposition to the new PLI plan. However, the PLI has been credited to MD&EDs by the Bank of Baroda, and it will shortly be awarded to other senior executives (Scale IV and above).

On social media, users have posted a screenshot of the PLI payment. The screenshot serves as evidence of the PLI payment made to MD&EDs.

The MD and Executive Directors received the following PLI amount:Shri Debadatta Chand, MD & CEO, received ₹16,15,680. Shri Lalit Tyagi, Executive Director, received ₹16,12,800. Shri Sanjay Vinayak Mudaliar, Executive Director, received ₹16,12,800, while Shri Lal Singh, Executive Director, received ₹16,12,800. Smt Beena Vaheed, Executive Director, received ₹10,40,516.40.

Another update is that the Punjab National Bank (PNB) board has authorized senior executives to get PLI in accordance with the new PLI scheme that the DFS, Ministry of Finance, Government of India, implemented. Shri Krishna Kumar, the General Secretary of AIPNBOF, affirmed this. All of the bank's senior executives will eventually receive credit for the PLI.

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UFBU Leaders Raises Voice on DFS PLI Move

In response to recent messages from the Department of Financial Services (DFS) about the Performance Linked Incentive (PLI) program, the United Forum of Bank Unions (UFBU) has written to the Chief Labour Commissioner (CLC) requesting immediate action. 

Joint Secretary of AIBEA Devidas Tuljapurkar and General Secretary of INBOC Prem Makker voiced serious concerns about the action in remarks given, especially in light of the ongoing conciliation process.In a letter dated March 19, 2026, UFBU objected to the DFS communication that was sent out the day before, claiming that it essentially implements a redesigned PLI scheme while conciliation proceedings are still in progress. 

The union emphasized that any unilateral modifications would be against the agreed status and that the PLI structure is still being discussed, particularly for officers from Scale IV and higher.Concerns about extending updated PLI payments beyond Scale III were also brought up, and it was cautioned that doing so may interfere with the conciliation process, spark labor unrest, and jeopardize collective bargaining. 

The CLC has been called by UFBU to step in, call an urgent meeting, and halt the implementation."This development appears to be a deliberate and calibrated attempt by sections of the banking leadership, with tacit policy support, to create divisions within the unionized workforce," AIBEA Joint Secretary Devidas Tuljapurkar told in response to the incident. Selectively rewarding top officials in Scale IV and above—often referred to as "Executives"—who participate in the decision-making process within banks appears to be the key to the method.

These CEOs are gradually separating themselves from the more general concerns of the workforce by tying their pay rewards to short-term performance indicators. This could undermine long-standing customs of collective representation in the banking industry and impair the workforce's collective bargaining power.

More significantly, history provides a sobering caution. The Global Financial Crisis was largely caused by a similar incentive-driven strategy. Aggressive bonus-linked arrangements in the US promoted excessive risk-taking, chasing short-term profits, and diluting prudential standards. Such remuneration schemes skewed decision-making and undermined institutional stability, as demonstrated by later investigations, including those examined under the Federal Reserve's supervision. It's hard to deny the similarities.

If the Indian financial sector adopts a similar strategy, especially in institutions that are crucial to the system, it could:  Promote making risky decisions that are unrelated to long-term sustainability, undermine institutional accountability and governance standards, and cause a rift between management and employees.

Executives may view these incentives as lucrative and empowering in the near term. But when the banking cycle takes a negative turn, which it eventually does, those same CEOs may find themselves vulnerable, alone, and responsible for structurally poor choices. As a result, this incentive structure is a systemic risk concern rather than just a labor-relations issue.

Neither the executives' own long-term interests nor those of the banking institutions are served.

A prudent banking system must be built on:

Collective responsibility, not segmented loyalty

Long-term stability, not short-term gains

Ethical governance, not incentive-driven compromises

Any deviation from these principles risks repeating mistakes that the global financial system has already paid a heavy price for.”

"It is really very unfortunate, painful in fact," INBOC General Secretary Prem Makker said. All of us leaders at UFBU have similarly struggled to comprehend how the government operates. The CLC claims that the issue is being discussed and that PLI will be put into effect following the revised plan. It was initially applied up to Scale III. What is this? We spoke with the CLC. You're phoning us, but why? The administration is not following your counsel, so whatever you say is not sacred. If we continue to obey while the government disobeys, what good is conciliation?

It's not that we oppose paying Scale IV and higher employees more PLI. The earlier settlement, which is up to Scale VII—you pay them based on the banks' performance—was one cause for anxiety. It was going quite well. This one, however, is an individual performance. We can comprehend this to some extent as well, but with individual-based performance, you are once again dividing into several categories. Someone is getting paid more, and that higher is now comparable to what private sector companies do, when they pay one employee 10 lakhs and the remaining team members 30–40 thousand.

They are poisoning the atmosphere, but I don't think they will gain anything by splitting the people. It's true that they are widening the gap. We won't allow individuals who will receive higher PLI tomorrow to just choke those on the ground. We'll fight for a long time.Consulting for financial services.Concerns about the PLI framework, its implementation procedure, and its possible effects on labor relations and worker dynamics in the banking industry are reflected in the UFBU letter and statements made by union leaders.

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CBI files case of Rs 2.78 crore fraud with Bank of India(BOI) Branch in UP; investigation begins

 The CBI has started investigating the fraud case of Rs 2.78 crore in the name of giving Mudra loan in the Barauli Malik branch of Bank of India in Barabanki.

The CBI, Lucknow's Anti-Corruption Branch, has registered an FIR and begun an investigation into the Rs 2.78 crore fraud committed in the name of Mudra loans at the Barauli Malik branch of Bank of India in Barabanki. On Tuesday, the CBI raided four locations of the accused in Lucknow and one in Mainpuri, gathering crucial evidence. The CBI has named the bank's then branch manager, field officer Shailendra, and unidentified individuals in the FIR.

The CBI registered this FIR on the orders of the Lucknow bench of the Allahabad High Court. After the incident came to light, on February 21, 2024, then-branch manager Rajiv Bachchan filed a complaint with the Zaidpur police station in Barabanki, requesting an FIR, but the police did not register a case. The bank told the CBI that in 2022-23, then-branch manager Aman Verma had approved Mudra loans for 41 people. The loan amount was later transferred to other unauthorized accounts, causing financial loss to the bank.

He also requested the CBI to recover the loan amount from the accounts to which the funds were transferred and to block withdrawals. According to sources, middleman Suresh Rawat would bring people in to open accounts and, with the connivance of bank employees, would obtain Mudra loans in their names. This fraud was carried out by taking advantage of the lack of security deposit for Mudra loans up to ₹10 lakh.

Later, due to non-payment of the loan amount, two FIRs were registered at the Zaidpur police station in Barabanki and one in Satrikh. The victim, Salman, then approached the High Court. He told the court that bank employees had fraudulently obtained his signature and granted him a Mudra loan of Rs 9.10 lakh. Upon learning of this, he filed a police complaint, but no action was taken.

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Government orders this PSU Bank to credit PLI for Scale IV and Above

The Performance Linked Incentive (PLI) for Whole-Time Directors (WTDs) of Punjab National Bank (PNB) for the fiscal year 2024–2025 has been authorized by the Indian government through the Ministry of Finance. 

The Department of Financial Services announced the decision in a formal letter dated March 18, 2026. MD&EDs would receive PLI of Rs. 1,00,67,530.31.

According to the updated PLI guidelines published by DFS, Ministry of Finance, the government has directed Punjab National Bank to pay PLI to officers from Scale IV to Scale VIII. 

The government and bank unions met a few days ago to talk about the PLI issue. It was said that PLI would be distributed proportionately to each officer and that conversations would take place. However, the meeting and the conversations that took place have been called into doubt by such a letter from DFS.

New PLI Model for Senior Officers of Bank

• Scale IV officers can get 70% of their annual basic pay (approximately ₹11.75 lakh per year).
• Scale V and VI officers can get 80% of their annual basic pay (approximately ₹14.40 lakh per year).
• Scale VII officers can get 90% of their annual basic pay (approximately ₹22.50 lakh per year).
• EDs and MDs of Nationalised Banks, DMDs, MDs, and Chairman of SBI can get PLI up to 100% of their annual basic pay

Grade	PLI Ceiling as % of Annual Basic Pay
EDs and MDs of Nationalised Banks, DMDs, MDs, and Chairman of SBI	100%
Scale VII and Scale VIII	90%
Scale V and Scale VI	80%
Scale IV	70%

Punjab National Bank(PNB):

State Bank of India(SBI):

Bank of Baroda(BoB):

Indian Bank:

Bank of India:

Central Bank of India:

Canara Bank:

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Is a Bank Clerk(CSA) Job Good or not?

The banking industry has a lot to teach. You have many opportunities to assist others. For instance, there are numerous government programs that assist the underprivileged. However, nobody is entirely aware of it. such as BSBDA, PMSBY, PMJJBY, AWAS, NEEDS, crop insurance, etc. Government savings programs, such as SSA, PPF, APY, NPS, KVP, and others, are available to everyone from children to retirees. Even bank debit and credit cards come with free insurance, but only those who are familiar with it can explain it to you.You will see the ocean in front of you if you have the mindset to study. You may develop, learn, and support the development of others. For your professional growth, you have access to IIBF, NSIM, and courses like JAIIB, CAIIB, CCO, and CRA.

Job Growth: The government sector offers the fastest job advancement if you are prepared to assume more responsibility. Each bank has its unique policy about promotions. Let's maintain the three-year average fast track promotion period for each cadre. When you start working as a clerk at a nationalized bank, let's say you are 25 years old. three years as a clerk. 28 Scale 1 officers (Assistant Manager). 31 Scale 2 officer (Manager). by a 34-scale 3 officer (Senior Manager). by 37 officers on a scale of 4 (Chief Manager). by the Assistant General Manager(AGM), a 41 scale 5 officer. 44 scale 6 officers (Deputy General Manager). Officer (General Manager) BY 47 scale 7. The CEO and ED will follow.If you have right kind of attitude and knowledge you can reach as CEO of a bank. No other sector provides you like these kind of drastic growth. The thing is that you should learn to handle people, get lot of knowledge, be influential. As one said “It doesn't mean where you start, but it means where you end”. This industry has everything you need to grow.

Pay Scale: Your beginning salary will be approximately 20,000-30,000 per month. You receive one increment if you pass JAIIB. You receive two increments if you pass CAIIB. Additionally, you receive an annual raise in accordance with the bipartite settlement.  You will therefore increase after the next bipartite settlement. After that, you receive an allowance between 1000 and 1500 PM for things like  newspapers, cleaning, etc.

Influential: You meet a lot of individuals in this field. many large clients. Customers will respect you because they have more faith in bankers than in any other branch of government. Aadhar services, insurance, gas subsidies, government-sponsored MSME, mudra, pensions, and more are all included in banking these days. You'll make a lot of contacts. An enormous amount. Be excellent and flawless at work. You'll have an impact. You'll find out once you're seated.

Satisfaction: If you believe that assisting others is beneficial, you will be completely satisfied at work. You'll notice that even educated people don't know how to protect their hard-earned money and make money for themselves. You will witness extremely impoverished individuals visiting banks to receive gas subsidies. You can create PMSBY & PMJJBY for these impoverished folks so that it would support their family in times of need. You can help folks who don't have a bank account open PMJDY and save a little money for the future. 

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BOI Officer Arrested in dowry Harassment and Suicide Case

 In relation to the suicide of a 26-year-old woman who allegedly took the drastic measure as a result of dowry harassment, police have detained a bank employee. The event happened in Mahadevpuram Colony, which is located near the Shivpur police station. 

On February 27, Kajal, the 26-year-old victim, was discovered hanging at her residence. Police said that she had been subjected to dowry-related harassment from her husband and in-laws. It was just fifteen months ago that she got married. "My parents raised me with love and care, but I did not get that love in my in-laws' house," the author wrote. I am the princess of my father.

On February 9, just eighteen days prior to her passing, Kajal had already filed a formal complaint against her husband and six other members of her in-laws' family. She accused them in the complaint of physical assault, dowry harassment, and eviction. A suicide note was found at the location by police during their investigation. 

According to reports, Kajal stated in the note that although her parents had nurtured her with a lot of love, she did not receive the same affection and attention in her in-laws' home. She reported to the police that on November 16, 2024, she and Nitesh Kumar Singh were married. She claimed that at first everything went well and that her in-laws spent about ₹80 lakh on the wedding. But soon after, requests for an automobile started,and she was regularly beaten and threatened over it.

In her complaint, Kajal named her husband Nitesh Kumar Singh, brother-in-law Vivek Kumar Singh, Abhishek Kumar Singh, sister-in-law Priya Singh, Anchal Singh, and mother-in-law Kankalta Singh as responsible for harassment. She reiterated these allegations in her suicide note, writing that on February 7, she was verbally abused, beaten, and thrown out of the house. Mental harassment had pushed her to take her life.

After the incident, Kajal’s father Neeraj Rai filed a complaint with the police. Based on his complaint, the police registered a case on February 27 against 11 people, including her husband, under charges related to dowry death.

After filing a police complaint, Kajal was allegedly confined on the third floor of her in-laws’ home. She was not allowed to talk to anyone.

According to her uncle Ambuj Rai, the family called her several times starting at noon, but she did not pick up. After that, they visited her in-laws' home. They called the police at 112 since the door was locked from the inside. Kajal was hanging when the door was broken open by the police. Her in-laws had left. Her body was sent for a post-mortem by the police and forensic team. 

Nitesh Kumar Singh, the accused spouse, is employed by Bank of India in Maldahia as an officer/assistant manager. He and his family members were allegedly fleeing the scene. On Friday, he was apprehended from Phulwaria by a police team from the Shivpur police station. The accused was brought before a court following his arrest, and the judge ordered that he be placed under judicial custody.

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RBI imposes Monetary Penalty on Bank of India(BOI)

 

Bank of India has been fined ₹1.85 lakh by the Reserve Bank of India (RBI) for some currency chest violations. Bank of India's Kanpur Currency Chest was fined ₹1,85,300. 

After anomalies in the way currency remittances were handled were discovered, the action was taken. 

In the soiled note remittance procedure, the RBI noticed problems with counterfeit money, a scarcity of notes, and damaged notes. The central bank chose to penalize the bank financially in light of these infractions. 

Due to irregularities with a currency chest, Punjab National Bank (PNB) was fined ₹5.66 lakh by the Reserve Bank of India (RBI) a few days ago.

A lack of notes found at a bank-run currency chest led to the imposition of the penalty.The management of the cash supply in the banking sector is largely dependent on currency chests. They support the RBI in ensuring that money flows freely throughout the nation.

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