Saturday, October 20, 2012

Suggested Ways For Functional Improvement in Public Sector Bank

F.No. 7/129/2011-BOA
Government of India
Ministry of Finance
Department of Financial Services
3rd Floor, Jeevan Deep Building,
New Delhi, dated the 18th September, 2012

Chairman, State Bank of India
Chairman & Managing Director of All Public Sector Banks
MDs of Associate Banks of SBI

Sub: Functional improvement in the functioning of PSBs


There is a need for a continuous interaction between Public Sector Banks for working collectively to improve their functioning by sharing experience and lessons learnt to improve their internal policies and procedures. For this purpose, following focus areas have been short listed:-

a) HR
b) BPR
c) E-Governance
d) Internal Audit, Fraud Detection and Protection
e) Recovery
f) Alm

2. All these activities would have an impact on the IT platform of CBS. Therefore, keeping the CBS platform in view, following Groups are being set up:-

(a) State Bank of India
(i) State Bank of Hyderabad
(ii) State Bank of Mysore
(iii) State Bank of Bikaner and Jaipur
(iv) State Bank of Patiala
(v) State Bank of Travancore

(b) Punjab National Bank
(i) Dena Bank
(ii) Vijaya Bannk

(c) Bank of Baroda
(i) IDBI Bank
(ii) UCO Bank

(d) Bank of India
(i) Oriental Bank of Commerce
(ii) Andhra Bank

(e) Union Bank of India
(i) United Bank of India
(ii) Punjab & Sind Bank

(f) Central Bank of India
(i) Indian Bank
(ii) Allahabad Bank
(iii) Bank of Maharashtra

(g) Canara Bank
(i) Indian Overseas Bank
(ii) Syndicate Bank
(iii) Corporation Bank

The bank whose name is mentioned on the top of the list would be the coordinator bank for the Group.

3. The coordinators of the banks would have interaction with DFS on a quarterly basis. This interaction would generally be on video conference.

4. The Group coordinators, in turn, will have interaction with the rest of the banks of the group through video conference on a monthly basis so that the communication and the strategy is jointly formed by them.

5. Sponsor banks will also transmit the outcome with respective RRBs. Once in six months, there will be a meeting of all the members of all the Groups. Coordinators are expected

Yours faithfully,

Under Secretary to the Government of India

Fax:011-23742207, 011-234747018

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