Bank Unions have called strike on 31 January & 1 February 2020, United Forum of Bank Unions (UFBU) has declared that if the demands are not met employees will go on an indefinite strike from 1 April 2020. According to C H Venkatachalam, General Secretary, AIBEA, the unions are planning to go on strike Again on 11, 12 & 13 March 2020.
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Reserve Bank of India has allowed NBFCs to pool gold jewellery from different branches in a district and auction it at any location within the district, subject to the condition that the first auction has failed. In its circular on ‘Lending against security of single product – Gold jewellery’, the RBI said the NBFC shall ensure that all other requirements of the extant directions regarding auction (prior notice, reserve price, arms-length relationship, disclosures, etc) are met.
Fincare Small Finance Bank has opened its first branch in Thiruvananthapuram, boosting its network in Kerala to 4. The small finance bank has a network of 659 outlets in India.