AIBOC has issued its circular No. 80 on appointment of CMD, Punjab National Bank. You are aware that AIBOC opposed the move of appointment of civil servant as CMD of Punjab National Bank. Now the Government of India has appointed a professional banker as CMD of Punjab National Bank.
We are reproducing here the circular issued by AIBOC.
CIRCULAR NO:80 28th October, 2009
TO ALL AFFILIATES/MEMBERS:
OUR STAND VINDICATED - PROFESSIONAL BANKER APPOINTED AS CMD OF PUNJAB NATIONAL BANK
Please refer to our Circular No.70 dated 10.09.2009.
2. There was a move at the Govt. level to appoint a Civil Servant as the Chairman and Managing Director of Punjab National Bank, despite plenty of professional talents available within the Banking Industry. We took up the matter with the Hon’ble Prime Minister, Govt. of India against the nomination of outsiders as CMDs of Public Sector Banks. We are happy that proposal is shelved and our stand is vindicated by the Hon’ble Prime Minister by appointing a Professional Banker, Shri. K.R.Kamath, former Chairman and Managing Director of Allahabad Bank, as Chairman and Managing Director of Punjab National Bank. While we thank the Govt. for supporting our stand, we congratulate, Shri. Kamath for his appointment to the coveted post.
With Warm Greetings,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY
AIBOC CIRCULAR NO. 80 DATED 28TH OCTOBER 2009
RBI ANNOUNCED SECOND QUARTER REVIEW OF MONETARY POLICY 2009-10
RBI has announced its second quarter review of monetary policy 2009-10 on 27.10.2009, keeping the repo rate, reverse repo rate and the CRR unchanged while increasing the SLR from 24% to 25%.
CENTRAL BANK OF INDIA AWARDED FOR BANKING EXCELLENCE
Sri S. Sridhar, Chairman & Managing Director, Central Bank of India has received the Banking Excellence Award from Shri Sultan Ahmed, Minister of State for Tourism, Govt of India under 5 th Hospitality India and Explore the World Annual International Awards 2009 organized in association with China Tourism at the Convention Hall of Ashoka Hotel, Delhi on 24 th October, 2009.
The function was organized by Hospitality India, which was attended by Shri Christy Fernandes, Secretary, President of India, H E Dr Mohd Higaze, Ambassador of Egypt, Wang Xiang Yun (Alice), Director, China National Tourist Office, India, Shri Madan Kaushik, Minister of Tourism, Uttaranchal Govt., Shri Suddep Banerjee, Secretary, Tourism, Govt of India, Shri Tanveer Jahan, Secretary, Tourism, J&K Govt along with
other dignitaries and senior officials from Hospitality and Tourism Industry from all over the world.
RBI MAY ALLOW BANKS TO DECIDE ON BRANCHES
RBI may de-license or leave it to banks to open branches in rural and semi-urban centres, in a step towards liberalising its branch authorisation policy, according to the report appearing in Business Standard.
f that happens, it will no longer be compulsory for a bank to open branches in rural and semi urban centres to bolster its application to get a licence to open more branches in urban or high-income areas.
Currently, a bank is required to take permission to open branches anywhere. Besides, as an informal code, RBI maintains a ratio of urban centre branches to rural/semi-urban ones . This means a single branch in an urban area will require a certain number of branches to be opened in rural and semi-urban areas.
It is reported that the proposed change forms a part of the recommendations made by the Raghuram Rajan committee on financial sector reforms, towards broadening access to finance.
RBI has already accepted another committee’s recommendations, by freeing banks to establish ATMs without taking its prior permission.
Source: http://www.business-standard.com/india/news/rbi-mulls-allowing-banks-to-decidebranches/374259/
RBI STARTS REVIEW OF NEW BANK LICENSING NORMS
According to the report appearing in Business Standard, RBI has started review of new bank licensing norms in private sector which were first released in 1993 and thereafter reviewed in 2001.
As per the report, the major criteria for review will be the minimum paid-up capital of the bank, nature of new entities to be allowed in the Banking Sector, Promoters' contribution in the paid-up capital, nature of promoters and corporate governance norms in the current scenario.
It is reported that the review will be in line with the recommendations of Raghuram Rajan Committee on Financial Sector reforms.
Source: http://www.business-standard.com/india/news/rbi-starts-reviewnew-bank-licensing-norms/08/45/374255/
CENTRAL BANK OF INDIA - NOTIFICATION OF RESULTS - RECRUITMENT OF CLERKS (2009)
Central Bank of India has notified the results in recruitment of clerks. In all, the bank has announced a list of 843 successful candidates who are found provisionally eligible for appointment as clerks subject to their being found medically fit and verification/submission of various certificates/documents.
We are reproducing herewith the list of successful candidates for recruitment in the State of Andhra Pradesh, numbering 24. The link for the entire results is provided below the results of Andhra Pradesh.
STATE: ANDHRA PRADESH
No. Roll No. Name
1 1111010610 NUNE SURESH BABU
2 1111011228 DOBBIDI PAVAN KUMAR
3 1111011607 CH SAMPATH KUMAR
4 1111011635 E SHOBHA RAJU
5 1111034360 N ADILAKSHMI
6 1111034597 JALALAPURAM ANUSHA
7 1111056860 ENAGANDULA SRINIVAS
8 1111059052 MAHADEV MANGA
9 1111059084 AKASAPU VAMSI KIRAN
10 1111059196 SATISH KUMAR PEDDINTI
11 1111059527 C POORNIMA
12 1111059690 KATAREY NAGA RAJA KIRAN KUMAR
13 1111059810 SUGUR VEENA
14 4111050226 KALA KRISHNA BIJJA
15 4111070457 K NARAYANA
16 4111070647 J L SANDILYA BALIVADA
17 4111071808 MUDIGONDA NAGA TEJ KIRAN
18 4111075829 UPADHYAYULA SWARNA PRATYUSHA
19 4111075991 PADMINI MONINGI
20 4111086948 MOHAMMAD AZAGARALI
21 4111156301 SINGAM VENKATA MADHAV
22 4111156393 SAMUDRALA NAGARJUNA
23 4111156508 SEERAPU KRISHNA KUMAR
24 4111156532 D SRINIVASSource: http://www.centralbankofindia.co.in/upload/CLKADV.TXT
FINANCE MINISTRY WORKING OUT PLAN TO MERGE BANKS
As per the news item appearing in Business Standard, Finance Ministry has started work on a road map to create Eight to Ten large entities of Public Sector Banks. According to the report, Mr. Ashok Chawla, Finance Secretary, Govt. of India is working on a concept note to provide the framework for consolidation. The report also says that the road map would plan for the next few years.
Source: http://www.business-standard.com/india/news/finmin-working-out-plan-to-merge-banks/373925/
CENTRAL BANK OF INDIA STARTS RESTRUCTURING OF ITS SUBSIDIARY - CENTBANK HOME FINANCE
As per the report appearing in The Business Standard, Central Bank of India, the leading Nationalised Bank has started restructuring of its home finance subsidiary - Centbank Home Finance - in an attempt to raise the valuation of the company before selling it. It is reported that the bank has appointed Ernst and Young for advice on restructuring and valuation of its subsidiary.
Central Bank of India is the major shareholder in the company having a share of 59.5 per cent. Other shareholders are UTI and National Housing Bank each with 16 per cent share and the remaining 8.5 per cent share is held by HUDCO.
The report also says that the capital base of the subsidiary company is Rs.20.00 crores and the net worth is Rs.48.00 crores. For the year ended 31.3.2009, it earned a net profit of Rs.3.18 crores and the gross outstanding loans were Rs.257.88 crores at the end of March 2009.
Source: http://www.business-standard.com/india/news/central-bank-starts-process-to-sell-mortgage-arm/373913/
AIBOC CIRCULAR NO. 79 DATED 21ST OCTOBER 2009
AIBOC has issued its circular no. 79 on the 36th National Conference of Catholic Syrian Bank Officers' Association. We are reproducing the same here.
CIRCULAR NO : 79 21st October, 2009
TO ALL AFFILIATES/MEMBERS:
36TH NATIONAL CONFERENCE OF CATHOLIC SYRIAN BANK OFFICERS’ ASSOCIATION
36TH National Conference of Catholic Syrian Bank Officers’ Association was held on 18th October, 2009 at 10:30 a.m at Casino Cultural Auditorium, Thrissur. The conference was inaugurated by Shri. P.C.Chacko, Hon’ble Member of Parliament by lighting the lamp. Shri Chacko in his inaugural address touched upon the need for Bank Nationalisation during 1969/1980 and the contributions of Public Sector Banks to the economy of the Country. He appreciated the roles played by PSB’s and employees and Officers in strengthening the financial sector. He felt that there is a need now to compete at Global level, for that mergers may be inevitable. He complimented the stellar role played by AIBOC in instilling confidence in the minds of general public in Public Sector Banks in India, despite global financial crisis.
2. Com. G.D.Nadaf, General Secretary of AIBOC in his key note address, dealt in detail on the present position as regards industry level negotiations and the stand of UFBU on unreasonable conditions proposed by the IBA. He also substantiated the stand of the UFBU on opposing merger/acquisition policy of the Govt. He appealed to the grass root level membership to have some more patience on Salary Revision and 2nd Option on Pension issues, as IBA is yet to come back on certain basic issues on sharing of pension cost, as discussed in the meeting held on 24.08.2009. An attempt is being made by the Govt./IBA to pass on the major portion of the pension cost on the employees and officers, out of the increase in salary which has been opposed by the UFBU. He complimented the membership for thunderous success of two days strike on 6th and 7th August, 2009. If IBA/ Govt. continue with their adamant stand on sharing of pension cost etc., UFBU will be forced to revive the agitation programme with longer duration strike, said Com. Nadaf.
3. Shri. R.Venkatraman, Chairman and CEO of the Bank was the Chief Guest. In his speech, he advised the management and unions to “Be fair” to each other, that is the Dharma. He also appreciated the role played by the AIBOC and advised to take up social welfare activities. The Unions should develop the Cadre and educate the comrades. He assured that, before laying down the office, at the end of the November-2009, ceiling on Gratuity will be increased at Bank level.
4. Com. P.V.Mathew, Vice President of AIBOC, complimented the Association for its meaningful existence over a period of 43 years in the 90 years old Bank and achieving more than 1000 members out of 1300 officers of the Bank. He was quoting from the experience within and outside the country that, size is not stability of the Bank. The BCCI Global Trust Bank etc have vanished from the map of Banking. There is a need to nationalize private sector Banks, to serve the common man said Com. Mathew.
5. The programme commenced after Prayer with Welcome address by Com.C.L.Pauly, General Secretary of the Association. Com. Jose Vadakkethala, President delivered presidential address. The meritorious students of CBSE/ICSE students and members of the Association, who have completed CAIIB/JAIIB in first attempt were felicitated by giving cash awards. The inaugural session concluded with a vote of thanks by Com. Jhonson.T.Ponmanissery, General Convenor of Reception Committee.
6. The business session adopted the report of the General Secretary. Newly elected office bearers were installed. Com. Francis Jose Thottangal and Com. C.L.Pauly were elected as President and General Secretary respectively of the Association. The entire programme was well planned and exemplarily conducted. We compliment the leadership of the CSBOA for another milestone in their journey forward.
With Warm Greetings,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY
AIBOC CIRCULAR NO. 78 DATED 20TH OCTOBER 2009
AIBOC has issued its circular no. 78 on Union Bank of India Officers' Association at Chennai which is made available for the benefit of AIBOC members working in various banks.
The same is reproduced here for our readers.
CIRCULAR NO : 78 20th October, 2009
TO ALL AFFILIATES/MEMBERS:
UNION BANK OF INDIA OFFICERS’ ASSOCIATION GUEST HOUSE AT CHENNAI: AVAILABLE FOR THE BENEFIT OF AIBOC MEMBERS
Union Bank of India Officers’ Association, Tamilnadu Unit, an affiliate of All India Union Bank Officers’ Federation have their Guest House at Chennai at the following address:
No. 9 & 10, TNHB Complex
No. 180, Luz Church Road
Mylapore, Chennai 600 004
REPORT OF THE WORKING GROUP ON THE BENCHMARK PRIME LENDING RATE (B.P.L.R.)
You are aware that Reserve Bank of India has constituted a Working Group under the Chairmanship of Shri Deepak Mohanty on B.P.L.R. in pursuance of the announcement made by RBI in the annual policy statement of 2009-10, to review the B.P.L.R. system and suggest changes to make credit pricing more transparent.
Reserve Bank of India has today placed on its website the report of the Working Group inviting comments on the Report. The last date for receiving the comments by RBI is November 17, 2009.
The main recommendations of the Working Group include introduction of Base Rate by the banks replacing the existing BPLR system. According to the recommendations, the Base Rate would be applicable for loans with maturity of one year and above (including all working capital loans).
For other recommendations of the Working Group, visit the link placed below:
Link: http://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=21539
CENTRAL BANK OF INDIA TO CONVERT CENT BANK FINANCIAL & CUSTODIAL SERVICES, ITS WHOLLY OWNED SUBSIDIARY INTO N.B.F.C.
Continuing with its steps to move into new forays, Central Bank of India, the leading Nationalised Bank, has decided to convert Cent Bank Financial & Custodial Services, its wholly owned subsidiary into Cent Bank Financial and has proposed to increase its capital base from Rs.10.00 lacc to Rs.10.00 crores, for which the Bank has already got approal from Registrar of Companies for change of its subsidiary's name. Bank has also sought approval from RBI to hike capital of its subsidiary.
In a parallel development, Central Bank of India is also in talks with Aviva Life Insurance for setting up an Insurance Distirbution Company.
These developments have been told by Sri S. Sridhar, Chairman & Managing Director, Central Bank of India to The Economic Times today.
Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance-/banking/Central-Bank-to-convert-its-trusteeship-firm-into-NBFC/articleshow/5129200.cms
COMMUNICATION SENT BY CBOA, AP TO DGM, ZO, HYDERABAD ON RELIEF TO THE STAFF WORKING IN FLOOD AFFECTED AREAS
We reproducing here the communication sent by CBOA, AP to DGM, ZO, Hyderabad on relief to the staff working in flood affected areas.
Sir, the damage to the properties particularly to our Kurnool branch is immense as the worst ever floods have destroyed every thing in the branch including infrastructure and the records. We have also come to know that some of our staff members have lost their houses due to the floods forcing them to lead miserable lives. Despite of the odds, it is really commendable that our staff members rose to the occasion and making every possible effort to bring normalcy in functioning of the branch.
Face lift of the branch premisesMaking immediate arrangements for functioning of ATM
Sanction of Additional Housing Loans to staff members whose houses have been destroyed either construction or undertaking repairs
Sir, any solace provided to our staff members at this juncture would not only help their families to overcome the trauma but also motivate them in performing their duties in the bank.
Yours sincerely,
Communication sent by CBOA, AP to DGM, ZO, Hyderabad on flood victims of A.P.
CBOA, AP has sent a communication to DGM, ZO, Hyderabad on lending helping hand to the flood victims of Andhra Pradesh. The same is reproduced here.
GS / 2009 / 174 DATE: 15.10.2009
DY. GENERAL MANAGER
ZONAL OFFICE
HYDERABAD
Dear Sir,
REG: RELIEF TO THE FLOOD VICTIMS – LENDING A HELPING HAND TO THE GOVERNMENT
You are aware that the State of Andhra Pradesh has recently witnessed unprecedented floods in five districts, killing a number of people, livestock and rendering lacs of people homeless. Crops in lacs of acres were also destroyed. The fury has affected every corner of the society in those five districts and the worst affected are the Kurnool and Mahaboob Nagar Districts.
Even our Bank has not been spared from the nature’s fury and our Kurnool branch was totally immersed in 10 ft. high water, destroying every thing in the branch. The staff members were affected very badly and some of their houses were also damaged.
Though the Government has been making its sincere efforts for providing relief to the victims, there is a limit to what the government can do as it is a formidable task to overcome the affects of the tragedy of such a magnitude. It requires people from all walks of life to lend their helping hand to the government.
Realizing the gravity of the situation and the limitations to overcome the same, the Government of Andhra Pradesh has made an appeal to the people to donate liberally to Chief Minister’s Relief Fund for providing relief to flood victims, as every rupee contributed to the flood relief fund will help the government wipe out the tears of the people. Responding to the call, a large number of people and the establishments have been coming forward to help the cause by contributing to the Chief Ministers’ Relief Fund.
We, being part of the society, feel that it is our bounden duty to extend necessary help to the flood victims to ensure that they come out of the trauma as early as possible. In order to enable our members working in the State of Andhra Pradesh to donate to the Chief Minister’s Relief Fund, we request you to take up the matter with Central Office for enabling the staff members to contribute One Day’s salary in lieu of One Day Leave, as has been done in similar cases in the past.
AIBOC CIRCULAR NO. 77 DATED 16TH OCTOBER 2009
AIBOC has issued its Circular No. 77 dated 16th October 2009 on Extension of Special Allowances / Incentives to all the Officers working in North Eastern Region, Sikkim, Ladakh, Lakshadweep, Andaman & Nicobar. We are reproducing the same here.
CIRCULAR NO: 77 16th October, 2009
Dear Sir,
5. We request you to expedite.
Thanking you,
Yours faithfully,
(G.D. NADAF)
GENERAL SECRETARY
CBOA, AP UNIT'S CIRCULAR NO. 16 DATED 05TH OCTOBER 2009
We are reproducing here the circular No.16 issued by CBOA, AP Unit.
Circular No. GS: 2009: 016 Date: 05.10.2009
TO ALL OFFICERS PLEASE CIRCULATE
Dear Friends,
We reproduce hereunder the Circular No. CIRCULAR/GS/2009/13 dated 30-09-2009 received from our Federation for your information.
With best regards
Yours sincerely
Sd/-
(C.A. MALLIKARJUNA RAO)
GENERAL SECRETARY
-----------------------------------------------------------
PROTECTION OF SALARY/BENEFITS/SERVICES FOR DIRECTLY RECRUITED OFFICERS FROM WITHIN THE BANK
Recently the bank had conducted a recruitment process of Scale II and III officers in Specialist Category, IT. A number of officers in Scale I and II from the bank had also appeared in the process. Some of these officers have also been found successful for recruitment in Scale II and III. Such processes have been conducted in different categories earlier also by the bank. In such recruitment processes prior to 1999, other than pay and seniority, all other benefits like leave, past service etc. were being protected. The matter of extending protection to the pay and seniority had been taken up by the officers’ organization with the bank’s management and also IBA. In the year 2000 after clarification from IBA, the bank had issued a detailed circular extending protection to the pay last drawn by the officers in the erstwhile scale.
However, in the recruitment process of Specialist Category, IT for Scale II and III, the management has conveyed to the recruitee officers from within the bank that salary, seniority and other benefits will not be protected. We have taken up with the management demanding for extending protection to all such benefits. Our communication is reproduced hereunder :
“With reference to above, we would like to state that following provisions have been laid down by the bank for protection of salary, seniority and other benefits etc. for the serving officers recruited in the bank through direct recruitment process:
i) Prior to the year 2000, the bank whenever undertook such recruitment process, was extending protection of all the benefits except for seniority and fixation of pay. We are enclosing a copy of the Order of Appointment issued in the Bank in 1991 clearly mentioning that “….your past service will be included for all benefits except for salary and fixation of pay….”. Thus meaning that all the service benefits like leave, terminal benefits etc. would be protected.
ii) Later on the matter of extending protection to pay and service seniority also was taken up with the bank’s management and IBA for a long time by the officers’ organizations. Accordingly in August 2000, after getting clarification from IBA, our bank had issued a circular No.CO:PRS:2000-2001:114 dated August 18th, 2000 extending protection to the pay last drawn by such recruitees in the erstwhile scale on the lines of the Fitment Formula envisaged at the relevant point of time for the internal promotion. Accordingly, all together the bank has been extending protection to the salary, benefits service etc. to such recruitees from within the bank.
Contrary to above laid down provisions, while giving postings to internal direct recruitees the bank has made following deviations:
a) In the recruitment of Scale IV and V in the year 2008 the management had given protection to the salary only and no other benefit was protected.
b) Now in the recruitment process of Scale II and III in specialist category (IT) and posting orders given recently, the bank has conveyed to such recruitees that neither salary nor seniority or any other benefits will be protected.
In this context please refer to our communication No.GS/2009/1601/3497 dated 17th August 2009 (copy enclosed) in which we had requested the management for extending protection of salary, seniority, and other benefits to these recruitee officers from within the bank.
We are however sorry to note that in case of recruitees of Scale II and III in Specialist Category (IT) from within the bank even the earlier protection of salary has been withdrawn, what to speak about extending seniority and other benefits etc.
This is a clear violation of the bank’s policies in vogue as enumerated in the circular issued by the bank in August 2000. At a time when there is a dire necessity for motivating and boosting the morale of the officers, exactly the opposite has been done in the present recruitment process.
We may inform that there are a number of officers from within the bank who have qualified for such recruitment and all of them are feeling demotivated, dejected and frustrated. On the one side, there has not been much promotional avenues for specialist categories, on the other even in the recruitment process the bank is creating an adverse situation for these officers. Many of these officers will be subjected to a decrease in monthly salary in the range of Rs.5000/- to Rs.8000/- apart from losing other benefits. In the process, the management has been discouraging these candidates from accepting recruitment in the higher scale and they will be forced to refuse recruitment in higher scale.
Many of the Public Sector Banks viz. Andhra Bank etc. have been providing such protections, as if it is a promotion process.
In the interest of the bank and the concerned officers, we earnestly request the management to review and reconsider the entire issue and respect the existing policies, conventions and norms and provide protection to all the benefits like salary, leave, service seniority etc. to these officers who are expected to be recruited in the higher scale. This will certainly enthuse the officers to function more effectively in the bank apart from creating better atmosphere in the bank.”
The matter will be further followed up.
Yours sincerely,
Sd/-
(D.S. BHADAURIA)
GENERAL SECRETARY
CBOA, AP UNIT'S CIRCULAR NO. 15 DATED 14TH SEPTEMBER 2009
We are reproducing here the Circular No. 15 issued by the CBOA, AP unit.
CIRCULAR NO. GS:2009:015 DATE: 14.09.2009
TO ALL OFFICERS PLEASE CIRCULATE
Dear Friends,
GENERAL MEETING AT HYDERABAD – A GRAND SUCCESS – CBOA, AP LAUNCHES ITS BLOG AT HTTP://CBOAAPUNIT.BLOGSPOT.COM
You are aware that All India Central Bank Officers’ Federation (A.I.C.B.O.F.), our apex body in the Bank had decided to convene its Executive Committee Meeting at Hyderabad on 09.09.09 and 10.09.09. You are also aware that our Unit has been given this prestigious opportunity after nearly 10 years as the last E.C. Meeting of the Federation was held at Hyderabad way back in 1999.
As the top office bearers of our Federation were participating in the EC meeting at Hyderabad, we have utilized the opportunity and conducted a general meeting on 08.09.09 at Hotel Sankalp Grand, Koti, Hyderabad. No words are enough to describe the attendance in the meeting. In spite of heavy rains, members from allover the State attended the meeting with enthusiasm and listened to the speeches of our top leaders with rapt attention.
The meeting was presided over by Sri K.V. Ramanaiah, President of CBOA, A.P. Sri D.S. Bhadauria, General Secretary, AICBOF, Sri N.K. Pareek, President, AICBOF and Mr. Y.S. Kumar, Treasurer, AICBOF have made their presence felt with their motivating and informative speeches, deliberating at length on various issues concerning the officers.
You are aware that our Association has always been in the forefront in launching innovative schemes. Not to left with our legacy, our Association has developed a BLOG for the benefit of Officers’ community especially for our members, which is the first of its kind in our Bank. Sri D.S. Bhadauria, General Secretary, AICBOF has launched the BLOG by opening the site at http://cboaapunit.blogspot.com amidst thunderous applause. Many of our affiliated units present on the occasion have appreciated our efforts and decided to follow the path shown by us.
Friends, we have already initiated innovative measures on communication front. Launching of the BLOG is nothing but an extension of technological up-gradation in our communication system. With opening of the BLOG, we intend to have a faster communication system apart from enlightening our members about the developments in the Bank as well as the Industry. In order to enable the visitors to have an instant access to important Web Sites, links to these sites have also been provided in the BLOG.
Friends, launching of the BLOG and the successful hosting of E.C. meeting of the Federation, has earned laurels for our Unit, which could be possible only due to the dedicated efforts of our members. As success of the BLOG would solely depend upon its content and the information it provides to the viewers, we request you to visit the BLOG regularly and offer your suggestions and feedback for making the BLOG a well informed one. On our part, we will be posting in the BLOG with our circulars and also of AIBOC on regular basis along with other information concerning our Bank and the Banking Industry. Kindly visit our BLOG at http://cboaapunit.blogspot.com.
HOSTING OF A.I.C.B.O.F. E.C. MEETING AT HYDERABAD – A MEMORABLE EVENT AND A GRAND SUCCESS
Having got the opportunity to host the E.C. meeting after a gap of 10 years, we have initiated necessary measures for making the event a memorable one. With the unstinted cooperation of all of our members and the guidance from our Federation, we have not only hosted the E.C. meeting successfully but also created history in the annals of the Federation for the arrangements made and the hospitality extended.
All the affiliated units of AICBOF have not only participated in the meeting with full strength but also actively involved in the discussions enabling the Federation to evolve strategies in dealing with the management on important issues. We shall be communicating the developments from time to time.
Friends, our unit has derived this success only due to the collective efforts of our membership. Our members have once again demonstrated their dedication towards the organisation and extended all possible help in hosting the E.C. meeting successfully.
Yours sincerely,
Sd/-
(C.A. MALLIKARJUNA RAO)
GENERAL SECRETARY
CENTRAL BANK OF INDIA LOOKS OVERSEAS
Central Bank of India is looking to set up branches in Hong Kong, the Middle East and Africa apart from London to get a toehold in overseas.
The bank has got the Board approval for overseas foray and is doing survey and has also initiated informal discussion.
The bank is also expecting to receive a capital of Rs.700.00 crore from Government by the end of this fiscal.
This has been disclosed by Sri S. Sridhar, Chairman and Managing Director of the Bank today in a press brief.
Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/-finance-/banking/Central-Bank-looks-overaseas-mulls-Hong-Kong-London-foray/articleshow/5127898.cms
CENTRAL BANK OF INDIA LAUNCHES PREPAID "CENT GIFT" CARD
Central Bank of India has issued a Press Release on 12th October 2009 announcing the launch of its Pre-paid card as "CENT GIFT" CARD.
The Unique features of CENT GIFT Card are:
- It can be preloaded with any value of the choice of the customers and not pre-denominated with fixed values.
- An enhanced security feature is that the CENT GIFT Card is encased in a secured envelope and the card no., expiration date and the CVV2 number are not even known to the Branch which sells the card.
Other features of CENT GIFT Card are:
- Accepted by Mastercard Merchants across India
- Check card balance on the Internet and through Mobile Phone
- Mastercard Secure Code protection for online transactions
- The Card Purchaser can fill in the value and to whom the CENT GIFT Card is being given, mentioning the loaded value on the envelope with a Greeting Message.
- No Cash withdrawals on ATM
- Cards are Non-reloadable
- A dedicated website www.centralbankgiftcard.co.in
- 24X7 Customer Care with an All India Toll Free No. 1800 209 9293
The Press Release has also stated that the Bank will introduce shortly Prepaid Virtual Card, Travel Prepaid Card, Travel Prepaid Card in foreign currency (USD, GBP, Euro etc.), Students Card, Payroll Card, etc.
AIBOC CIRCULAR NO. 76 DATED 12TH OCTOBER 2009
AIBOC has issued a Circular on representation of Officers on the Boards of Banks in the backdrop of Amendment to the Nationalised Banks' (Management and Miscellaneous Provisions) Scheme, 1970/1980.
The same is reproduced below for our visitors.
PARTICIPATIVE MANAGEMENT: REPRESENTATION OF OFFICERS ON THE BOARDS OF BANKS.
AMENDMENT TO THE NATIONALISED BANKS’ (MANAGEMENT AND MISCELLANEOUS PROVISIONS) SCHEME, 1970/1980. NOTIFICATION DATED 15.09.2009, OF THE GOVERNMENT OF INDIA.
We have appended a copy of the letter addressed to the Hon’ble Union Minister for Finance, which is self explicit.
We will keep you informed of the further developments in the matter.
With Warm Greetings,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY
No.1410/197/ 09 10.10.09
To,
Shri. Pranab Mukherjee,
Hon’ble Minister for Finance,
Government of India, South Block,Parliament House,
New Delhi.
Dear Sir,
PARTICIPATIVE MANAGEMENT: REPRESENTATION OF OFFICERS ON THE BOARDS OF BANKS.
AMENDMENT TO THE NATIONALISED BANKS’ (MANAGEMENT AND MISCELLANEOUS PROVISIONS) SCHEME, 1970/1980. NOTIFICATION DATED 15.09.2009, OF THE GOVERNMENT OF INDIA.
We invite your kind attention to the Amendment to the Nationalised Banks’ (Management and Miscellaneous Provisions) Scheme 1970/1980 notified by the Government of India on 15.09.2009 in the extraordinary Gazette, wherein it is indicated that all the Officer Directors on the Boards of the Nationalised Banks, who have completed the tenure of 3 years, have been removed from the Boards with immediate effect. This is in contravention of the earlier provision of continuing the incumbent representative as Director, till such time the new representative is nominated. The abrupt removal has resulted in a vaccum and this has created wide spread resentment among the Officers’ community.
2. As per the Provisions of the scheme, the Government/ Bank has to obtain from the majority unions of Officers/ panel for nomination of the new Director, well before the tenure of three years of the incumbent Director. We learn that in respect of the Banks where the incumbent Directors are removed in the wake of the above amendment, no panel has been obtained by the management of the individual banks for clearance from the Government of India. This has created avoidable vaccum at the Board level.
3. We wish to bring to your kind notice that at few banks Officers’ Associations have submitted their panels, much before the completion of the present incumbent’s term, due to many hurdles put up by the bureaucrats in the Ministry, the appointments have been delayed. The Associations have no control over this. In this background it was appropriate that the present incumbent is continued as Director till the next nomination is made. This arrangement was working well till now and there are no plausible grounds to discontinue the same.
4. The stellar role played by the Officers’ community in the Nationalised Banks in the socio-economic development of the Country is remarkable. The representative of the Officers’ community on the Board of the Bank has played an important role in shaping the policies of the Bank to meet the daunting tasks of poverty alleviation, rural employment programmes etc.
5. In this background, continuation of the present incumbent Director till the next nomination is made, is desirable. May we urge upon you to look into the matter and continue the existing arrangement in the spirit of participative management in Nationalised Banks, which was evolved way back in the 1970’s and which has done yeomen service to the cause of socio-economic development of the country.
6. We request you to pass necessary instructions to the concerned to continue with the existing system in all cases where the panels submitted by the Associations are pending with the Government. We would also request you to clear the panels of those banks which are kept pending and issue notification for nomination of new Directors at your earliest convenience.
Thanking you,
Yours faithfully,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY
A NOTE ON SALARY PACKAGE OF BANK OFFICERS
AIBOC has submitted a note on salary package of bank officers to the Finance Secretary, Government of India for consideration. The same is reproduced below for the readers.
We furnish below the Performance indicators of Public Sector Banks, as on date of last salary revision (2002). due date of salary revision (2007) and present (2009)
( Rs.in Crs.)
2002 2007 % increase 2009 %increase
Deposits 9,68,749 19,94,199 105.80 31,12,748 221.31
Advances 4,80,680 14,40,146 199.60 22.60,155 370.19
Total Business 14,49,429 34,34,345 136.94 53,12.903 270.69
Net Profit 8,302 20,398 145.69 34,319 313-38
Business/
Employees 1.92 7 .55 290.22 11.37 492.18
You will please observe that in all parameters be it business, profitability or productivity the Banks have performed exceeding well.
* Prior to 1979, Bank Officers salary was batter than that of the Group 'A' officers of Govt. of India. Class I officers Basic Pay was at Rs. 450/- per month where as Bank Officers Basic Pay was at Rs. 500/- per month with a difference of Rs.50/- per month-
* On account of Pillai Committee Recommendations during 1979. Bank officers, Basic Pay was fixed at Rs. 700/- per month at par with class I officers of Govt. of India.
* fourth Pay Commission fixed Rs. 2200/- per month Basic Pay for class I officers where as for Bank Officers it was at Rs. 2100/- per month.
* Fifth Pay Commission Scales, further widened the gap between Govt. Officers and Bank officers scales by Rs. 900/- per month. Govt Officers scale was at Rs. 8000/- per month whereas Bank officers scale was fixed at Rs. 7100/- per month.
*In 2004. 50% of D.A was merged with Basic Pay for Govt. Officers and Basic Pay 'was raised to Rs. 12500/- per month. Whereas for Bank Offices w.e.f. 1-11-2002 Basic Pay was at Rs. 10,000/- per month with a difference of Rs. 2500/. per month. In addition for Govt. Officer HRA was at 30% of Basic Pay in Metros as compared to 9% paid to Bank Employees.
• As on 1-1-2006. as per 6th Pay Commission Recommendations, Govt. officers. Basic Pay is fixed at Rs. 15,600/- with Grade Pay of Rs. 5,400/- totaling Rs. 21,.000/- The HRA for Govt. Officer was retained at 30% of Basic Pay whereas for Bank officers, it is at maximum 8.5% of Basic Pay.
* With present offer of 17.5% wage increase for Bank Staff, w.e.f.. 1-11-2007. Bank officers scales would at best be at Rs. 14,000/- per month as against pay scale of class I officers at Rs. 21,000/- (includes grade pay) thus further widening of the gap by Rs. 7,000/- per month in Basic Pay between Govt. and Bank officers
* Out of 17.5% wage increase offered by the IBA, Rs. 1,800/- crores will go towards 2nd option of Pension and incremental cost on Pension and remaining amount is not sufficient to construct scales of Bank officers above Rs. 14,000/- per month.
* Even in next wage revision for Banks. due from 1-11-2012 the gap between Govt. and Bank officers may not be wiped out.
* A minimum salary increase of 30% to 40% is ensured to .Public Sector undertakings, UGC Staff etc. In tune with 6th Pay Commission Recommendations.
* In SBI, Superannuation Scheme will not ensure 50% of last drawn Basic Pay as pension. Commutation formula is also inferior. Those retired before 31-10-2002, are drawing Pension, based on' 1992 scales.
* The Gratuity ceiling of Rs. 3.5 lacs is not enhanced for Bank employees w.e.f.1-1-2006.
* Bank officers have unlimited working hours with accountability sword hanging on the head even after retirement. As against 5 day working in Govt. Bank staff virtually works all 7 days with no compensation, undergo greater transferability and accountability.
* Bank officers are expected to match performance with professional in private sector. and they do, but are paid below municipal employees.
THAT BANK EMPLOYEES ARE IN A HIGH WAGE ISLAND IS THE GREATEST MYTH
Today a General Manager of Bank draws emoluments less than a Section Officer of the Government of India;
A Probationary Officer of Bank draws less than a Clerk in Government and
A Bank Clerk draws less than a Peon in Government.
Hence, we pray for Pay Scales at par with Group 'A' officers in Government in India and HRA@ 30%.
AIBOC CIRCULAR NO. 75 DATED 1ST OCTOBER 2009
AIBOC has issued its circular No. 75 on enhancement in gratuity ceiling. We are reproducing the same here.
ENHANCEMENT IN GRATUITY CEILING - MEMORANDUM SUBMITTED TO THE MINISTER OF STATE, LABOUR & EMPLOYMENT
The undersigned along with Com.T.N.Goel, Joint General Secretary and other local leaders met Shri. Harish Rawat, Hon’ble Minister of State, for Labour & Employment, Govt. of India on 26.09.09, at Delhi and submitted a Memorandum requesting for enhancement in Gratuity Ceiling through amendment to the payment of Gratuity Act 1972.
2. The Hon’ble Minister was kind enough to listen to the leadership and to assure that, Labour Ministry is seized of the matter and shortly a bill will be introduced in the Parliament for amendment to the Gratuity Act. On our part, we reiterated our demand that, the Ceiling has to be enhanced to Rs. 10/- lacs with effect from 01.01.2006, as has been done in case of Central Govt. employees, based on the recommendations of the 6th Pay Commission. There cannot be two sets of rules for Labour in our country on Welfare facilities like Gratuity etc. The Hon’ble Minister appreciated the views expressed by us and assured us that, the Labour Ministry is for rendering justice to all category of Labour and to remove discriminatory treatment in the matter of Welfare measures like Gratuity etc.
3. Comrades, it is our considered opinion that, the dialogue with the Hon’ble Minister is fruitful and may yield positive results in the days to come. Therefore let us wait for translation of assurance of the Ministry into action.
With Warm Greetings,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY
INDIAN BANKS ARE EXPECTED TO REMAIN ROBUST
According to Fitch, the Global Rating Agency, Indian Banks are expected to remain robust during the current financial year as well as 2010-11 even if NPAs and interest rates rise. The Agency has also said that the Indian Banking System is expected to remain resilient even under rigorous stress assumptions on both asset quality and profitability during FY 2010 and FY 2011.
Source: http://economictimes.indiatimes.com/articleshow/5079776.cms
SBI SLASHES DEPOSIT RATES BY 0.25% FROM OCTOBER 5, 2009
State Bank of India has cut its deposits rates by 0.25% across all tenures effective from October 5.
The revised rates are applicable for deposits of below Rs.1.00 crore.
A news item has appeared in News Papers, the links of which are placed below.With the announcement by SBI, many of the banks may follow the leader in the coming days. Let's wait and see.
Links:
http://economictimes.indiatimes.com/articleshow/5077338.cms
http://www.thehindubusinessline.com/2009/10/02/stories/2009100252200100.htm
http://www.business-standard.com/india/news/state-bank-cuts-deposit-rates-by-25bps/371882/
BANK UNIONS, IBA NEARING PACT ON WAGE HIKE
This is the heading of a news item appeared in Business Standard today. According to it, a Senior Finance Ministry Official has said on Wednesday that IBA and UFBU are close to reaching an agreement on wage hike for employees of state-owned banks.
The official has also said that bank employees are likely to get another option for pension and wage hike of 17.5% as per the understanding between unions and IBA. He has also given some statistics on cost of pension and it sharing along with the cost of wage hike.
However, Mr. CH. Venkatachalam, Convenor, UFBU has said "Some ground has been covered. It's difficult to say how close we are to reaching an agreement. There are still some hurdles".
We are providing herewith the link to enable our visitors to read the full story.
Link:
http://www.business-standard.com/india/news/bank-unions-iba-nearing-pactwage-hike/371787/
+1.jpg)
