Thursday, August 5, 2010

Facts about banks

I submit some points hereunder highlighting reign of injustice in banks perpetuated by team of officers sitting at the helm of affairs in collusion wit union leaders.

There is practically no stagnation for central government employees as per last pay commission recommendation and as accepted by government of India.

Why is there stagnation for bank employees particularly when bank is not in a position to accommodate so many candidates in higher scale, when there are fewer vacancies?

For none of fault of senior officers, they are denied promotion as also annual increment. It is really a fun that they are not given even full terminal benefits when they resign at their own.

When banks do not find such senior officers for promotions, bank should not hesitate in accepting resignation of such officers and allow full pension and retirement benefits. Why officers who resign are not allowed pension, leave encashment or refund of accumulated bank's contribution in PF etc. Bank can remove an officer as per its choice but staff cannot leave the job without loosing his rightful terminal benefits.

Officers who have transferred from outside states to North East States were getting so many incentives as per 1984 circular or as per guidelines of IBA as prevalent for central government employees working in other sectors in eighties. Why these incentives have not been revised during last 25 years?

Special allowance fixed Rs.1200/ or Rs.1500/ for specified area is common for all staff posted in North East region. What about additional benefits for those who are transferred from other states to North East?

For outsiders, there was a provision of Rs.1500. p.m. in 1984 when Rs.1500/ was a significant amount compared to prevailing scale of pay for officers at that time. Now even that Rs.1500/ (it should be at least 10000 in view of price rise and scale rise during last 25 years) or 12.5% of pay has been abolished.

Originally North East posting policy was framed for enthusing employees to serve in north eastern based branches for two years and then they were given preferred posting. Unfortunately this holy policy is now misused by greedy and corrupt executives to sideline good officers from their path of earning illegal money and golden gifts.

Incentives of NE posting have also been snatched and left on whims and fancies of executives. Preferred posting after completion of two years tenure also lies on the mercy of top officials. ED or top executives in banks do not have fear in mind in violating the existing policy or misusing the same in the name of bank’s exigencies.

After all what union leaders are doing?

There are lacs of bank employees who are continuously working in rural areas, say for one or two decades or even more.

On the other hand there a few lacs of bank employees who are continuously posted in Metros and Urban areas.

Unfortunately residual a few of employees are facing frequent transfers from one corner to the other corner of the country.

It clears defeats the very purpose behind rural posting policy and NE posting policy framed by government of India. Banks do not hesitate in violating its own transfer policy or promotion policy. Officers posted continuously in rural areas seldom get promotion because their fate depends not on performance but on whims and fancies of Interview panel. Members of Interview in general award marks based on merit of employees on points such as flattery, gifts and welcome kits. Justice is nowhere visible.

After all what union leaders are doing?

Answer is that they are also standing in the same que in which a team of flatterers are standing to get maximum benefit from higher bosses, cream posting, reckless earning through credit lending or waiver of loan without any fear of action from higher bosses and get preferred promotions for their flatterer members if they so like.

Why huge arrear to the amount of two lacs or three or four lacs are being paid to executives as per 9th Bipartite Settlement and only a few thousand to middle management officers considered senior officers. Even peons and junior clerks are getting arrear to the extent of one lac rupees. Even junior officers are getting more. Obviously pay scale fixed for various scales is not based on principals of equality but based on whims and fancies of IBA team and union leaders. Pension optees are getting more and PF optees are getting noting in comparison. Why discriminatory treatment is being allowed by union leaders even in fixation of revised pay in 9th BS, not to speak of discrimination with PF optees desiring to offer for pension.

Are senior officers in middle management so bad they are not fit for promotion, increment, pension and even equal rise in wage revision? If so why are they not given offer of VRS as given in the year 2000?

Why CMDs of various banks then talk of crisis of talented officer in bank and why do they express apprehension for painful future when a good number of officers will retire?

If there is a will there is a way. When government is formed of corrupt persons and that of flatterers, when administration is manned by corrupt and flatterers when judiciary is weak, ineffective, costly and centre of corruption, any one in Government cannot dream of taking step to reduce corruption in the system or to punish corrupt people.

And people who try to move against the main stream gets tired very soon and finally succumb to death.

It is therefore better to say All is Well sir, No problem sir, everything will be o.k. sir, I am there don't worry, I will manage it, I will manage media people, I will manage CBI people and so on. These wordings are a few permanent wording of flatterers.

Media men are not getting any interest or attractive news in the reign of injustice pervading and prevailing in banking industry. A few executives by using their mobile phones using some flatterer Branch Managers ges success in extending credit to unscrupulous borrowers and sacrificing huge amount in compromise and waiver of loan scheme just to earn some illegal money.

Banks assets worth thousands and thousand of crores of rupees are locked and lost in bad borrowers every year whereas government of India, RBI and all regulating agencies remain silent spectators. People have seen how NPA rose 500% this year in Indian Bank but regulating agencies are not ready to accept that similar pain will occur to other banks too in near future. There is in fact none to bell the cat.
Banks management, government of India and RBI loudly say with a sense of pride that Indian Banks are not affected by global slowdown or recession or sub prime crisis but IBA says that banks are not in a position to pay pension to bank employees and hence begging for sharing of pension cost from bank employees.

IBA has filed affidavit in Madras High Court that banks are facing fund crisis and not in a position to pay pension to retirees and hence praying for stay granted by the same court on 24th June 2010 on illegal and unjustified recovery from PF optees agreed in 9th Bipartite settlement .

How much shameful and painful it is that staff of banks who served banks for 30 to 35 years in bank and contributed his entire energy for growth of bank has now to run from pillar to post or knock the door of courts to stop reign of injustice.

Are Banks earning profits by simple exploitation of staff??

Danendra jain

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