Serving the Indian Overseas Bank Retirees
02/08/2025
IOB blames Infosys for NetBanking lapse, reverts to its old system IOB NetBanking Down: Indian Overseas Bank (IOB) has reverted to its old internet banking system after multiple failures in their new platform backed by Infosys' EdgeVerve. This disruption has raised concerns among customers and regulatory implications.
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29/08/2023
Happy Onam
28/07/2023
UFBU message :Today bipartite talks for next wage revision settlement formally began between iba and ufbu. Iba has formed the main Negotiating committee as well as Sub committees to discuss our demands. Discussion on our demands will continue from the next round of talks. Today we have signed the minutes for extending 100% DA for pre Nov 2002 pensioners and family pensioners . Detailed circular follows. Chv gs AIBEA
Save Public Sector Banks
If the banks are privatised, there will be no safety for the deposits and financial services being offered to the common man. The private banks, which offer certain services and benefits to their customers now because of the existence of public sector banks, will scrap them if all PSU banks are privatised.
Loans for farming operations, small businesses, higher education and so on will be stopped, while corporate firms, which usually do not proporly repay loans with interest, will get whopping loans without any surety. Transparency in recruitment of staff will be a thing of the past and reservation in recruitment of staff will go, .
Most of the private sector financial institutions became bankrupt before 1969 and most of the investors lost their deposits in the banks instantly. When the 2008 economic meltdown saw multinational banks biting the dust, the banking sector in India withstood the shock since most of the banks were public sector financial institutions.
Thanks to The Hindu
On behalf of IOBRA, We, Sarvashri. AL.Chandramouli- President, K. Venkataramanan-Vice President, G Balachandran - General Secretary met Our MD & CEO and represented the long pending following issues like REMAS, Reduction of Pension for some pensioners, Subsidy for Medical expenses and Exgratia of ₹10000 for all pre 1986 Retirees( who are very less in number). Our MD & CEO listened to Our representation. The meeting was very positive.
We also met GM - HR and represented the above issues to him also.
We note to advise further developments in this regard.
G Balachandran
General Secretary
IOBRA
Eid Mubarak