Saturday, July 31, 2010

Reign of Injustice in Banks

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 in pay scale meant for only bank employees particularly when bank is not in a position to accommodate so many candidates in higher scale due to their own constraints and when there are fewer vacancies?

For none of fault of senior officers, they are denied not only promotions but also annual increment.

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. But there is no justification for stopping annual increment. By denying increments to all, bank management is creating anomalies in pension payments too. An employee who worked for 30 years and an employee who worked for 40 years will get almost same amount of pension if they leave the bank. In near future even an employee who worked for  20 years to 25 years will get higher pension who have been serving bank for more than 30 to 35 years. It is important to note that pension is calculated maximum for 33 years of service even if an employee has worked for 40 years.

Officers who have transferred from outside states to North East States were getting so many incentives as per 1984 circular or as 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 preferred and choice posting to employees who served North east branches for two years also stands snatched. Preferred posting after completion of two years tenure also lies on the mercy of top officials. There is no shame feeling in the minds of ED or top executives when they  violate the existing policy or misuse the same in the name of bank’s exigencies.

After all management of PS banks know that Indian judiciary cannot decide the case even in two to three decades. And they also know the art of delaying hearing on court cases associated with bank employees’ promotion or posting or payment. They also know the art of buying trade union leaders or building pressure on trade union leaders so that they may reconcile with whims of top officials of management.
God knows what union leaders are doing?

There are lacs of bank employees who are continuously working in rural areas for one or two decades or even more. On the other hand there are  lacs of bank employees who are continuously posted in Metros and Urban areas. Unfortunately only a section of employees are facing frequent transfers from one corner to the other corner of the country.

God knows l what union leaders are doing?

Answer is that trade union leaders 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.

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.

A few executives by using their mobile phones using some flatterer Branch Managers to extend credit to unscrupulous borrowers and sacrificing huge amount in compromise and waiver of loan scheme just to earn some illegal money and quicker promotions.

Banks assets worth thousands and thousands 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% during last few  years in Public Sector Bank but regulating agencies are not ready to accept that health of these bank will deteriorate in future . There is in fact none to bell the cat.

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