I would like to request RBI or Government of India or Ministry of Finance and particularly to all responsible officials to prepare a list of NPA borrowers in various segment of amount involved and try to know the person who created , supported indirectly through Branches in generation of more and more bad assets known as Non Performing Assets (NPA).
RBI can call for such information from each bank and each branch. Now a day such information can be generated through CBS without any loss of time and without any discomfort. Even controlling officer can generate such list if he or she so likes.Excel sheet can be prepared very easily on following columns.
1. NPA Account with value involved upto Rs.10.00 lacs ( small borrowers)
2. More than 10 lacs to o 50 lacs (medium size borrowers)
3. More than 50 lacs to 5 crores (large borrowers)
5. above five crores. (very large borrowers)
Each segment should contain following columns so that it can precipitate the name of bad bankers.
1. Name of borrowers
2. Date of sanction
3. Name of Branch head
4. Name of immediate controlling head
Then select through excel and filter data as per person on all India basis. It means bank should prepare a list of all bad borrowers which have been sanctioned by a top executive say ED, then General Manager , Deputy General Manager and so on up Regional Head . Such list should be prepared for each and every executive in the bank starting from top scale VII to scale III.
First make a list of big amount NPA borrowers created by regional head or circle head in India during last five years irrespective of his posting (sanctioned directly by him or through branch manager working under him)’
This will indicate the name of executives who created maximum NPA and prove that such officials are getting fastest promotion and all such people are sitting on top post and hence there is none to punish bad officers.
Such executives have very good relation with top bosses and also powerful persons sitting in RBI and banking division. This is why no action is taken against top officials and in all cases of misdeed junior officers are made scapegoat. Such officers if trapped accidently can manage tactfully even CBI or vigilance officials and ensure closure of files or at least ensure awarding of minimum punishment.
This is why there is dissatisfaction in the branches and administrative offices among junior officers in all banks under public sector. Bank officers are least bothered at field level whether NPA is increasing or profit is shrinking. Clever bankers are always expert in making lame excuses of global recession or bad monsoons or debt relief and so on.
Corrupt officers are quickly promoted and posted at good places in big towns whereas good officers who are serious workers are placed at bad places and in critical branches.
It is therefore dire need of the hour to find out l corrupt officers at top level and ensure that they are punished and without which one cannot imagine of NPA coming down in any bank. When top officers will be booked to task , clear cut message will spread upto the bottom level officers and only then officers will desist from corrupt practices and top officers will not post and promote juniors on the basis of flattery of on the basis of golden and diamond gifts they get from juniors.
Only a healthy culture in bank can help in reducing NPA percentage and help in becoming top ranked performer bank.. Hitherto CEOs and EDs in banks are showing lesser percentage of NPA by increasing volume of fresh and short period advances or by selling NPAs to ARCs.
Tuesday, November 23, 2010
Tuesday, November 16, 2010
Non Performing Assets in Banks
It is not easy to stop corrupt practices prevalent in Public Sector Banks .Work done through contractors or goods bought through suppliers either through tender or without tender are more often than not of inferior quality, everyone knows it. Until management, government, judiciary, regulatory agencies, vigilance officials, monitoring officials, auditing officials and the concerned executing officials are honest one cannot imagine of punishment to guilty officials or to contractors who use inferior materials in construction works or to suppliers who supply lesser goods and inferior goods and charge high value. Banks therefore cannot stop corrupt practices in contractual work related to furnishing of premises or renovation of bank’s branches, ATM centers or administrative offices, but it can definitely stop corruption involved in its lending business. Though it is not easy to make the system fool proof of corrupt practices but a little effort in this direction may help in reducing the level of malicious lending and in turn help in keeping the NPA level as low as sustainable.
But the task of purification and punishment must start from top officials who support, propagate, irrigate and promote corrupt practices in lending. We have to punish top officials who indirectly or directly prefer commission in bulk lending, who aspire for costly gifts from junior officials on financing made by branches and who desire red carpet welcome is extended to them wherever they visit. We have to change rules and practices which discourage honesty and loyalty.
It is worthwhile to keep in mind that top official who are basically corrupt and possess acute greed for money do not leave any witness or evidence which can be helpful in trapping them or which helps in substantiating charge of corruption against them. Top officials manage bribe through a few hard core flatterers in the organization. Such flatterers have strong liaisoning with all high profile personalities in all departments and they can easily manage closure of any file which may go against them and they can shut the mouth of all protestors.
RBI or any other monitoring agencies can at least identify the executive of the banks whose past and present is bad and who are condemned by all. For this purpose they should prepare a list of bad borrowers (NPA) involving rupee one crore and more (to begin with) and try to find out the name of the executives who are responsible for bad lending .There may be cases of account turning bad due to various reasons which are beyond the control of bankers may be ignored, But advances which turned bad due to faulty and malicious processing must be analyzed thoroughly and honestly by a devoted team of bank officials chosen from other banks.
Executives who are instrumental in bad lending and still posted at high places send a wrong message down the line. If corrupt officers are promoted and made organizational head or Branch head or circle head in a bank there is no doubt that junior officials will also indulge in bad lending in greed of money and instances of bad advances will increase. In such system good officials are normally shunted in remote and critical areas and ignored in promotion processes.
It is therefore required to know the name of all loans and advances made by all top executives in past ten years and ascertain whether they are still good or turned bad in a few years or even written off by clever gang of General Managers and cleaver board of directors. Serious analysis of bad borrowers will reveal that creators of all NPA accounts are holding top posts in the same bank of have become ED or CMD of other bank.
If bad executives are replaced by devoted officers of the same bank violating existing promotion policy or transfer policies I think the level of NPA will come down in coming years. Otherwise the deterioration cannot be stopped and banks have to face serious financial trouble in near future.
As a matter of fact dishonesty has become the best policy in all offices owned by the government partially or fully. It is disheartening that even officials who are made for stopping malpractices and for punishing corrupt officials are themselves corrupt. Then who will take action and against whom, only God knows. And this is why it is said that corruption has become the accepted system in India.
Problem arises only when there are differences over the rate of sharing ill earned money among the team of officials who promote bad culture or when top officials receive bribe money but fail to extend desired help to bribe giver.
Lastly if there is a will there is a way. If one wants to lower corruption level in any office or government department there are several ways to accomplish the same. If the head is clean, he can at least endeavor in this direction to some extent, but if the head is dishonest one cannot dream of healthy practices down the line. Unfortunately honest officers are very rare and even there are a few they cannot survive and prosper in their career.
17.11.2010
But the task of purification and punishment must start from top officials who support, propagate, irrigate and promote corrupt practices in lending. We have to punish top officials who indirectly or directly prefer commission in bulk lending, who aspire for costly gifts from junior officials on financing made by branches and who desire red carpet welcome is extended to them wherever they visit. We have to change rules and practices which discourage honesty and loyalty.
It is worthwhile to keep in mind that top official who are basically corrupt and possess acute greed for money do not leave any witness or evidence which can be helpful in trapping them or which helps in substantiating charge of corruption against them. Top officials manage bribe through a few hard core flatterers in the organization. Such flatterers have strong liaisoning with all high profile personalities in all departments and they can easily manage closure of any file which may go against them and they can shut the mouth of all protestors.
RBI or any other monitoring agencies can at least identify the executive of the banks whose past and present is bad and who are condemned by all. For this purpose they should prepare a list of bad borrowers (NPA) involving rupee one crore and more (to begin with) and try to find out the name of the executives who are responsible for bad lending .There may be cases of account turning bad due to various reasons which are beyond the control of bankers may be ignored, But advances which turned bad due to faulty and malicious processing must be analyzed thoroughly and honestly by a devoted team of bank officials chosen from other banks.
Executives who are instrumental in bad lending and still posted at high places send a wrong message down the line. If corrupt officers are promoted and made organizational head or Branch head or circle head in a bank there is no doubt that junior officials will also indulge in bad lending in greed of money and instances of bad advances will increase. In such system good officials are normally shunted in remote and critical areas and ignored in promotion processes.
It is therefore required to know the name of all loans and advances made by all top executives in past ten years and ascertain whether they are still good or turned bad in a few years or even written off by clever gang of General Managers and cleaver board of directors. Serious analysis of bad borrowers will reveal that creators of all NPA accounts are holding top posts in the same bank of have become ED or CMD of other bank.
If bad executives are replaced by devoted officers of the same bank violating existing promotion policy or transfer policies I think the level of NPA will come down in coming years. Otherwise the deterioration cannot be stopped and banks have to face serious financial trouble in near future.
As a matter of fact dishonesty has become the best policy in all offices owned by the government partially or fully. It is disheartening that even officials who are made for stopping malpractices and for punishing corrupt officials are themselves corrupt. Then who will take action and against whom, only God knows. And this is why it is said that corruption has become the accepted system in India.
Problem arises only when there are differences over the rate of sharing ill earned money among the team of officials who promote bad culture or when top officials receive bribe money but fail to extend desired help to bribe giver.
Lastly if there is a will there is a way. If one wants to lower corruption level in any office or government department there are several ways to accomplish the same. If the head is clean, he can at least endeavor in this direction to some extent, but if the head is dishonest one cannot dream of healthy practices down the line. Unfortunately honest officers are very rare and even there are a few they cannot survive and prosper in their career.
17.11.2010
Wednesday, August 11, 2010
PM talk of peace when there is violence,otherwise keep mum and ignores peaceful demands
( An Open appeal to Prime Minster of India and Finance Minister of India)
Subject: Illegal recovery from PF optees in PSU Banks
And
Misuse of usual delay in judicial process
I would like to draw your kind intervention in the matter of second offer of pension being given to bank employees who did not accept pension offer in 1993/95 when pension scheme was first introduced in banks in lieu of contributory provident fund.
After prolonged movement by bank employees for almost 15 years and after 30 months agitational programme, Indian banks Association (IBA) signed an agreement with United Forum of Bank Employees (UFBU) on 27th of April. Till 25th of April 2010 there was never a talk among leaders during last 15 years that there will be recovery from PF optees from their arrear if they are given second option for pension. But in the eleventh hour, union leaders who are mostly retired employees were ill motivated by IBA and it is they played a mischievous role to introduce a discriminatory clause in the agreement which enables banks to recover 2.8 times of revised salary of November 2007 from such employees who opts for pension.
Obviously those who opted for pension in 1993/95 got free option for pension whereas those who will opt for the same benefit after 15 years prolonged movement will have to purchase the same by paying Rs.50000 to more than one lac rupees. This discrimination is clearly in violation of spirit of Equality of Law granted under Indian Constitution.
Since the agreement was signed by a few say 20 union leaders on behalf of eight lac bank employees IBA got an upper hand in executing even legally invalid clause. In such position bank employees all over the country started condemning the said bipartite settlement, formed fresh unions and finally filed writs in various high courts.
On 24th June 2010 Madras High Court granted interim stay on recovery from PF optees.
But IBA and bank management in nexus with mischievous union leaders filed another writ in the same court for vacation on stay on the false but emotional plea that retired employees are on the verge of death and banks are unable to start pension payment to them because they have no fund and they not got refund from retired employees.
Court due to its busy schedule heard the petition on 10th of August 2010, considered the pain of retired employees and vacated the stay.
IBA and union leaders in particular and people of India understand it very well that once the court case is filed in any Indian court, it will take a decade or two decade in getting final judgment on any issue. In such situation banks can execute the disputed agreement.
It is open secret now that banks will not only spend lavishly on advocate to prolong the hearing , torture the fighting employees and but also try its best to weaken the fighting intensity of employees who have moved courts in the large interest of three lac retired and three lac serving employees.
Obviously bank employees for none of their fault will have to pay Rs.50000/ to more than one lac to purchase pension offer which is absolutely illegal and not reasonable from any angle of consideration. Such discriminatory recovery never occurred in any department in our country. This historic blunder is going to be committed by bank management and bank employees will become victim of faulty judicial process as everyone knows that it takes High courts and Supreme Court two to three decades in deciding any case.
I therefore make an earnest appeal to you to advise finance ministry, banking division, law ministry and IBA to bring about necessary change in the agreement or else government of India should promulgate an ordinance and make bank employees at par with Central government employees and nullify the said discriminatory agreement. In the recent past when dispute arose between IRDA and SEBI government of India with the help of ordinance nullified the effect of court case filed by IRDA against SEBI.
Alternately you can ensure expeditious judicial process by appointing special bench in Supreme Court combining writs filed at various High courts to decide the issues of writ in fixed time frame of 30 days. .
It is the most disheartening and sad story of Indian judicial system that courts are used in general and in practice not to get justice but to perpetuate reign of injustice. Courts seldom award punishment to guilty person in time but spend so much time in the process of judgment that the victim is either extinguished or the very purpose of filing a case is defeated or loses physical, mental and financial energy to such a pitiable extent that the case filed for justice is ultimately left unattended and become useless and endless. Even the veteran criminals get relief once the police files case in any court. It is very easy to prolong the judicial process as per whims and fancies of the criminal and at least till all witnesses or all plaintiffs are finished or become ineffective.
For your ready reference and to enlighten you more on the subject I submit hereunder some important points related to pension rules and subsequent agreement prevalent in banks.
1. In the Pension Regulations 1993/1995 there is no provision for collecting money from employees to make up the short-fall in pension fund. If at all any short fall is faced it should be made good by the banks themselves. Then on what basis banks are now asking employees to contribute for short fall?
2. In 7th, 8th, 9th bi-partite settlements 8.25%, 9.25%, 13% of additional cost of pension was carved out of wage load and given to banks to make-up the shortfall in pension fund. This amount belongs to both Pension Optees and PF optees, but used for paying pension to Pension Optees only. Therefore is there any logic in asking funds now from PF optees only?
3. In the Pension Regulation 1993/1995 there was a clause stating that pension will not be paid to those employees who participates in any strike. In 1999, this clause has been removed, but no fresh option is given to PF optees to join pension scheme then. Why?
4. In Railways and RBI fresh options were given to employees to join Pension Scheme several times without asking single paisa. Then why in Banks, Employees are asked to contribute towards Pension Fund?
5. If all the employees would have opted for Pension in 1996/1995 itself, how banks would have managed Pension Fund?
6. In State Bank of India three retirement benefits are being given to employees. viz. PF+Pension+Gratuity. In Public Sector Banks only two benefits are available. Even for that second benefit Employees have to pay in every wage revision settlement. Does it mean Bank Employees are not given two retirement benefit, but they are given only 1.5 benefits i.e., half of what SBI employees are getting?
7. When SBI associate banks are merged with SBI, Govt. is ready to extend Pension Benefit to those Employees of associate banks without asking anything from employees. Where from money comes to meet this additional expenditure?
8. Banks are ready to incur expenditure to the extent of 14% (10% of B.P. +D.A) towards PF for new recruits from 01.04.2010, but not ready to pay more than 10% for PF optees. Why?
9. Pension Regulation 1993/1995 provides for paying pension only on superannuation, i.e. after 60years of age only, but at the time of VRS2000 it is modified /amended to give pension to even employee of 40years. Because of this act of Banks only, Pension fund dried up. Is it not true?
10. Hence, we PF optees feel principle of natural Justice is denied to us and it is clear cut violation of fundamental Law of Equality before justice granted by Constitution of India to each citizen of India.
I am fully confident you will take all possible steps to give justice to six lac bank employees who have been badly affected by said agreement. It is worthwhile to mention here that bank management has already recovered Rs.1800 crores from serving employees who will be given second offer for pension as per said Agreement. Not only this , even trade unions participating in the said agreement has realized more than two hundred crores from bank employees as Levy or their remuneration or fee for negotiating with IBA and for signing on the said agreement.
12.08.2010
Subject: Illegal recovery from PF optees in PSU Banks
And
Misuse of usual delay in judicial process
I would like to draw your kind intervention in the matter of second offer of pension being given to bank employees who did not accept pension offer in 1993/95 when pension scheme was first introduced in banks in lieu of contributory provident fund.
After prolonged movement by bank employees for almost 15 years and after 30 months agitational programme, Indian banks Association (IBA) signed an agreement with United Forum of Bank Employees (UFBU) on 27th of April. Till 25th of April 2010 there was never a talk among leaders during last 15 years that there will be recovery from PF optees from their arrear if they are given second option for pension. But in the eleventh hour, union leaders who are mostly retired employees were ill motivated by IBA and it is they played a mischievous role to introduce a discriminatory clause in the agreement which enables banks to recover 2.8 times of revised salary of November 2007 from such employees who opts for pension.
Obviously those who opted for pension in 1993/95 got free option for pension whereas those who will opt for the same benefit after 15 years prolonged movement will have to purchase the same by paying Rs.50000 to more than one lac rupees. This discrimination is clearly in violation of spirit of Equality of Law granted under Indian Constitution.
Since the agreement was signed by a few say 20 union leaders on behalf of eight lac bank employees IBA got an upper hand in executing even legally invalid clause. In such position bank employees all over the country started condemning the said bipartite settlement, formed fresh unions and finally filed writs in various high courts.
On 24th June 2010 Madras High Court granted interim stay on recovery from PF optees.
But IBA and bank management in nexus with mischievous union leaders filed another writ in the same court for vacation on stay on the false but emotional plea that retired employees are on the verge of death and banks are unable to start pension payment to them because they have no fund and they not got refund from retired employees.
Court due to its busy schedule heard the petition on 10th of August 2010, considered the pain of retired employees and vacated the stay.
IBA and union leaders in particular and people of India understand it very well that once the court case is filed in any Indian court, it will take a decade or two decade in getting final judgment on any issue. In such situation banks can execute the disputed agreement.
It is open secret now that banks will not only spend lavishly on advocate to prolong the hearing , torture the fighting employees and but also try its best to weaken the fighting intensity of employees who have moved courts in the large interest of three lac retired and three lac serving employees.
Obviously bank employees for none of their fault will have to pay Rs.50000/ to more than one lac to purchase pension offer which is absolutely illegal and not reasonable from any angle of consideration. Such discriminatory recovery never occurred in any department in our country. This historic blunder is going to be committed by bank management and bank employees will become victim of faulty judicial process as everyone knows that it takes High courts and Supreme Court two to three decades in deciding any case.
I therefore make an earnest appeal to you to advise finance ministry, banking division, law ministry and IBA to bring about necessary change in the agreement or else government of India should promulgate an ordinance and make bank employees at par with Central government employees and nullify the said discriminatory agreement. In the recent past when dispute arose between IRDA and SEBI government of India with the help of ordinance nullified the effect of court case filed by IRDA against SEBI.
Alternately you can ensure expeditious judicial process by appointing special bench in Supreme Court combining writs filed at various High courts to decide the issues of writ in fixed time frame of 30 days. .
It is the most disheartening and sad story of Indian judicial system that courts are used in general and in practice not to get justice but to perpetuate reign of injustice. Courts seldom award punishment to guilty person in time but spend so much time in the process of judgment that the victim is either extinguished or the very purpose of filing a case is defeated or loses physical, mental and financial energy to such a pitiable extent that the case filed for justice is ultimately left unattended and become useless and endless. Even the veteran criminals get relief once the police files case in any court. It is very easy to prolong the judicial process as per whims and fancies of the criminal and at least till all witnesses or all plaintiffs are finished or become ineffective.
For your ready reference and to enlighten you more on the subject I submit hereunder some important points related to pension rules and subsequent agreement prevalent in banks.
1. In the Pension Regulations 1993/1995 there is no provision for collecting money from employees to make up the short-fall in pension fund. If at all any short fall is faced it should be made good by the banks themselves. Then on what basis banks are now asking employees to contribute for short fall?
2. In 7th, 8th, 9th bi-partite settlements 8.25%, 9.25%, 13% of additional cost of pension was carved out of wage load and given to banks to make-up the shortfall in pension fund. This amount belongs to both Pension Optees and PF optees, but used for paying pension to Pension Optees only. Therefore is there any logic in asking funds now from PF optees only?
3. In the Pension Regulation 1993/1995 there was a clause stating that pension will not be paid to those employees who participates in any strike. In 1999, this clause has been removed, but no fresh option is given to PF optees to join pension scheme then. Why?
4. In Railways and RBI fresh options were given to employees to join Pension Scheme several times without asking single paisa. Then why in Banks, Employees are asked to contribute towards Pension Fund?
5. If all the employees would have opted for Pension in 1996/1995 itself, how banks would have managed Pension Fund?
6. In State Bank of India three retirement benefits are being given to employees. viz. PF+Pension+Gratuity. In Public Sector Banks only two benefits are available. Even for that second benefit Employees have to pay in every wage revision settlement. Does it mean Bank Employees are not given two retirement benefit, but they are given only 1.5 benefits i.e., half of what SBI employees are getting?
7. When SBI associate banks are merged with SBI, Govt. is ready to extend Pension Benefit to those Employees of associate banks without asking anything from employees. Where from money comes to meet this additional expenditure?
8. Banks are ready to incur expenditure to the extent of 14% (10% of B.P. +D.A) towards PF for new recruits from 01.04.2010, but not ready to pay more than 10% for PF optees. Why?
9. Pension Regulation 1993/1995 provides for paying pension only on superannuation, i.e. after 60years of age only, but at the time of VRS2000 it is modified /amended to give pension to even employee of 40years. Because of this act of Banks only, Pension fund dried up. Is it not true?
10. Hence, we PF optees feel principle of natural Justice is denied to us and it is clear cut violation of fundamental Law of Equality before justice granted by Constitution of India to each citizen of India.
I am fully confident you will take all possible steps to give justice to six lac bank employees who have been badly affected by said agreement. It is worthwhile to mention here that bank management has already recovered Rs.1800 crores from serving employees who will be given second offer for pension as per said Agreement. Not only this , even trade unions participating in the said agreement has realized more than two hundred crores from bank employees as Levy or their remuneration or fee for negotiating with IBA and for signing on the said agreement.
12.08.2010
Sunday, August 08, 2010
CMD Vijaya bank, sysndicate bank,Dena Bank
I desire to place following questions before Banking Division, Ministry of Finance, Prime Minister of India, President of India and all trade Union Leaders in banks. I hope you will give due place for this appeal which will serve the purpose of lacs of bank employees.
QUESTION EVERYTHING!....SAID SOCRATES! WE THE PF OPTEES QUESTION THE PENSION SETTLEMENT!
1. In the Pension Regulations 1993/1995 there is no provision for collecting money from employees to make up the short-fall in pension fund. If at all any short fall is faced it should be made good by the banks themselves. Then on what basis banks are now asking employees to contribute for short fall?
2. In 7th, 8th, 9th bi-partite settlements 8.25%, 9.25%, 13% of additional cost of pension was carved out of wage load and given to banks to make-up the shortfall in pension fund. This amount belongs to both Pension Optees and PF optees, but used for paying pension to Pension Optees only. Therefore is there any logic in asking funds now from PF optees only?
3. In the Pension Regulation 1993/1995 there was a clause stating that pension will not be paid to those employees who participates in any strike. In 1999, this clause has been removed, but no fresh option is given to PF optees to join pension scheme then. Why?
4. In Railways and RBI fresh options were given to employees to join Pension Scheme several times without asking single paisa. Then why in Banks, Employees are asked to contribute towards Pension Fund?
5. If all the employees would have opted for Pension in 1996/1995 itself, how banks would have managed Pension Fund?
6. In State Bank of India three retirement benefits are being given to employees. viz. PF+Pension+Gratuity. In Public Sector Banks only two benefits are available. Even for that second benefit Employees have to pay in every wage revision settlement. Does it mean Bank Employees are not given two retirement benefit, but they are given only 1.5 benefits i.e., half of what SBI employees are getting?
7. When SBI associate banks are merged with SBI, Govt. is ready to extend Pension Benefit to those Employees of associate banks without asking anything from employees. Where from money comes to meet this additional expenditure?
8. Banks are ready to incur expenditure to the extent of 14% (10% of B.P. +D.A) towards PF for new recruits from 01.04.2010, but not ready to pay more than 10% for PF optees. Why?
9. Pension Regulation 1993/1995 provides for paying pension only on superannuation, i.e. after 60years of age only, but at the time of VRS2000 it is modified /amended to give pension to even employee of 40years. Because of this act of Banks only, Pension fund dried up. Is it not true?
10. Hence, we PF optees feel principle of natural Justice is denied to us and it is clear cu violation of fundamental Law of Equality before justice granted by Constitution of India to each citizen of India. We appeal to both IBA AND UNIONS to re-open the settlement and take corrective measures.
We hope BANKS AND UNIONS WILL ANSWER THESE QUESTIONS!
QUESTION EVERYTHING!....SAID SOCRATES! WE THE PF OPTEES QUESTION THE PENSION SETTLEMENT!
1. In the Pension Regulations 1993/1995 there is no provision for collecting money from employees to make up the short-fall in pension fund. If at all any short fall is faced it should be made good by the banks themselves. Then on what basis banks are now asking employees to contribute for short fall?
2. In 7th, 8th, 9th bi-partite settlements 8.25%, 9.25%, 13% of additional cost of pension was carved out of wage load and given to banks to make-up the shortfall in pension fund. This amount belongs to both Pension Optees and PF optees, but used for paying pension to Pension Optees only. Therefore is there any logic in asking funds now from PF optees only?
3. In the Pension Regulation 1993/1995 there was a clause stating that pension will not be paid to those employees who participates in any strike. In 1999, this clause has been removed, but no fresh option is given to PF optees to join pension scheme then. Why?
4. In Railways and RBI fresh options were given to employees to join Pension Scheme several times without asking single paisa. Then why in Banks, Employees are asked to contribute towards Pension Fund?
5. If all the employees would have opted for Pension in 1996/1995 itself, how banks would have managed Pension Fund?
6. In State Bank of India three retirement benefits are being given to employees. viz. PF+Pension+Gratuity. In Public Sector Banks only two benefits are available. Even for that second benefit Employees have to pay in every wage revision settlement. Does it mean Bank Employees are not given two retirement benefit, but they are given only 1.5 benefits i.e., half of what SBI employees are getting?
7. When SBI associate banks are merged with SBI, Govt. is ready to extend Pension Benefit to those Employees of associate banks without asking anything from employees. Where from money comes to meet this additional expenditure?
8. Banks are ready to incur expenditure to the extent of 14% (10% of B.P. +D.A) towards PF for new recruits from 01.04.2010, but not ready to pay more than 10% for PF optees. Why?
9. Pension Regulation 1993/1995 provides for paying pension only on superannuation, i.e. after 60years of age only, but at the time of VRS2000 it is modified /amended to give pension to even employee of 40years. Because of this act of Banks only, Pension fund dried up. Is it not true?
10. Hence, we PF optees feel principle of natural Justice is denied to us and it is clear cu violation of fundamental Law of Equality before justice granted by Constitution of India to each citizen of India. We appeal to both IBA AND UNIONS to re-open the settlement and take corrective measures.
We hope BANKS AND UNIONS WILL ANSWER THESE QUESTIONS!
Saturday, July 31, 2010
Government of India
Leaders on whom lies the fate of an organisation or trade union or a state government or a country have become lover of flattery, have become lover of money and lover of high post without merit. Root cause of all mishappenings, irregularities, fraud or cheating lies in nothing but flattery which shuts the eyes, ears and mind & heart of leaders. Leaders become self cantered and sacrifice the interest of the masses for whom they are meant. They forget God and minimum moral and religious values. New record of corruption will precipitate if a total investigation is made into what Shiela Dikchit has done in Delhi. When a person becomes popular he becomes more prone to bad habits and there are more chances of committing fraud with the system.
Corruption cannot end in India until government takes harsh steps to stop flattery. Yes man and bribe give equally responsible for rampant corruption and for damaging the right course of action. Looting of money from a person through bribe is less harmful than looting of pride, self respect of service men or businessmen or professionals. All is well sir or No Problem sir culture is killing the enthusiasm of real workers, real Indians and real businessmen because flatterers by dint of their actions hypnotize the top officials and ministers and get success in getting undue benefit or up gradation in service or better posting and quick promotion in service at the cost of many genuine workers.
CVC as such cannot stop corruption said to be rampant in work done for Common wealth Games in Delhi because they also become victim of this disease. CVC has to survive in the same system where perpetuators or corruption are sitting at the helm of affairs. Officers at vulnerable and responsible post at CVC or CBI or audit offices are chosen from a team of best flatterers. CVC has to be bold enough and has to stop corruption in transfers, posting and promotion as also in recruitment processes of government employees and bring about maximum transparency, eliminate the channel of Interview which gives rise to whimsical and biased decision. When honest and sincere officers are shunted in remote areas or posted in insignificant corners it is but natural that such officers will prefer indulging in flattery than wasting energy in good work.
CVC or for that matter Government of India has to make judicial process quick, affordable effective and honest so that victim of the system may approach court without any fear of repercussion. Fear of punishment may only keep flatterers and corrupt person away from the system. Similarly media has to take pro active and innovative initiativesto expose corrupt practices, conduct sting operation and do all acts deemed fit to expose the mischievous elements occupying top posts in government offices, ministry , banks, insurance companies, CBI, vigilance department, judiciary, tax departments etc who sell transfer, posting and promotions in service sector or who willfully torture and blackmail a good businessmen who do not flatter or bribe an officer.
Dkjain49709@rediffmail.com
30.07.2010
Corruption cannot end in India until government takes harsh steps to stop flattery. Yes man and bribe give equally responsible for rampant corruption and for damaging the right course of action. Looting of money from a person through bribe is less harmful than looting of pride, self respect of service men or businessmen or professionals. All is well sir or No Problem sir culture is killing the enthusiasm of real workers, real Indians and real businessmen because flatterers by dint of their actions hypnotize the top officials and ministers and get success in getting undue benefit or up gradation in service or better posting and quick promotion in service at the cost of many genuine workers.
CVC as such cannot stop corruption said to be rampant in work done for Common wealth Games in Delhi because they also become victim of this disease. CVC has to survive in the same system where perpetuators or corruption are sitting at the helm of affairs. Officers at vulnerable and responsible post at CVC or CBI or audit offices are chosen from a team of best flatterers. CVC has to be bold enough and has to stop corruption in transfers, posting and promotion as also in recruitment processes of government employees and bring about maximum transparency, eliminate the channel of Interview which gives rise to whimsical and biased decision. When honest and sincere officers are shunted in remote areas or posted in insignificant corners it is but natural that such officers will prefer indulging in flattery than wasting energy in good work.
CVC or for that matter Government of India has to make judicial process quick, affordable effective and honest so that victim of the system may approach court without any fear of repercussion. Fear of punishment may only keep flatterers and corrupt person away from the system. Similarly media has to take pro active and innovative initiativesto expose corrupt practices, conduct sting operation and do all acts deemed fit to expose the mischievous elements occupying top posts in government offices, ministry , banks, insurance companies, CBI, vigilance department, judiciary, tax departments etc who sell transfer, posting and promotions in service sector or who willfully torture and blackmail a good businessmen who do not flatter or bribe an officer.
Dkjain49709@rediffmail.com
30.07.2010
Friday, July 09, 2010
Flattery is root cause of misrule by IBA
IBA in its affidavit has stressed on the point that the trade union representing 95% of bank employees signed the agreement and hence Canara Bank petition filed by a union representing only 244 members should be ignored is not acceptable to any one who believes in justice.
Suppose if majority union decides that female employees will be given three increments less than male employees though they male and female perform same duty in the bank. , Can such unconstitutional agreement be treated as valid only because the same has been signed by a union representing majority of members?
Are we living in a jungle of sheep?
Another point is that the disputed agreement was signed by leaders of majority union. If leaders become victim of management, if leaders become hostile to members due to self interest, if leader’s intention become malicious there is all possibility of betrayal such as anti-member decision, divisive wage agreement, discriminatory treatment to divide them, sacrificing the interest of members to serve self interest etc. There is country wide protest and several writs have been filed in various courts of the country against the disputed clause which shows that the said agreement signed by leaders of majority union is not liked by majority of members. When leaders found that member can now resign or revolt against the union, they thought it better to release the arrear in hurry and recover the contribution from PF optees so that intensity of revolt is diluted. Further pension optees who are getting better treatment and who are getting full arrear will not support PF optees. This is called “Divide and Rule” policy. Leaders further took support of management in making recovery of Levy directly from arrear or pay slip to avoid the risk of member not paying levy in anger. All these fact reveal that union leaders realize from the core of their heart that they members are not happy with them.
When late Indira Gandhi, exPrime Minister of India lost her temper, she lost her conscience, she put all her opponents in jail, imposed emergency and without any fear of legal consequences or political reaction she misused the majority of her party in the Parliament to change the basic structure of the constitution. Similarly IBA has divided the bank employees in two segments, one pension optee and another PF optee and there is no doubt that bank management will use this division for imposing illegal recovery on PF optees. To add fuel to fire, IBA has created division even among various union leaders. This is why powerful protest against illegal recovery is not visible and management is taking advantage of this division and submitting illogical plea in the court to defend the discriminatory clause of the Bipartite Settlement. Those employees who are raising voices against misrule of IBA and union leaders are facing threatening of transfer or rejection in promotion process or posting at critical place or transfer from east to west or from north to south. Obviously reign on injustice will continue unabated until courts impose some punitive action against erring officials and leaders.
One more point raised by IBA in their affidavit filed in Madras High Court is that the second option of pension is not mandatory and employee at his will to opt or not to opt for pension. Days are not far when bank will curtail salary of all employees by 50% and give option to employee to continue in service or leave the job. In the initial offer for pension bank did not put any condition and hence there is no logic to put condition of recovery in the present offer of pension.
Union leaders have got no right to damage career of any individual or cause financial loss to any single person, not to speak of 3 lacs employees PF optees. When PF optees have also contributed in pension fund along with pension optees in the past during 7th and 8th Bipartite Settlement, there is no question of making recovery this time only from PF optees only to bridge the gap of 1800 crores. It is worthwhile to mention here that bank management has saved interest to the tune of 1800 crores by merely delaying the settlement for 30 months. Further bank will earn interest on money recovered from PF optees (total of 1800 crores from PF optees) till the court finally stops such illegitimate deduction.
Further when these union leaders called for strike or agitation programme, the same was put in action by all the employees including PF optees and not by PF or pension optees alone. Never in the past, had these union leaders ever told that second option for PF optees will be purchased by paying three months salary to pension fund. Had it been so there was no need to wait for 15 to 17 years, it could have been easily offered by PBA in 1995 itself.
When union leaders and IBA both had unanimous view of 1.6 times recovery and they have expressed the same in their separate affidavits, what happened during last two three days that both parties changed their view and agreed for recovery from only PF optees. Such discriminatory agreement pass the test of existing laws and the provision of constitutionally granted fundamental right called as Equality before law.
Already bank management has been violating spirit of transfer policy and promotion policy just to please union leaders and to conceal the misdeeds of corrupt executives. Management even does not hesitate to compromise lending policy or ethics behind waiver or comprise settlement with willful defaulters.
80% of officers belonging to the state of Jharkhand, Bihar, Orrisa and a few other states are posted outside their parent state and transferred whimsically frequently whereas those of the state of Maharashtra, Tamilnadu and West Bengal are seldom transferred outside their state for three decades and more. In the name of exigencies of work officers are transferred from one corner to other in clear cut violation of transfer policy. Similarly in the name of interview in promotion processes, higher management in nexus with union leaders promote or reject officers as per their sweet will and thus perpetuating arbitrary rule and reign of injustice.
Now they have jointly committed fraud with PF optees, they have cheated PF optees, they have extended biased benefits to scale four officers at the cost of junior level officers, they have caused loss to senior officers by stagnating them and depriving them of annual increments and what not.......
Reason behind continuance of such atrocities is that banks in general give choice posting to union leaders, militant officers, out of turn promotion to inefficient and corrupt employees, avoid punitive action against even fraudulent and charge sheeted employees to create a team of truely loyal and flatterers .This time IBA has created a team of pension optees who will blindly support misrule of Bank Management. If hundred or thousand employees are promoted even if they are not fit for the same, these promotees will become truely loyal to bank bosses. On the other hand if honest and performers are promoted, such promotees will never flatter their bosses or support blindly IBA.This is also a proof of “Divide and Rule” policy adopted by bank management. Similarly Union leaders are never transferred from their home town, they are given preferred treatment, hotel expenses and what not to make them blind supporter of what management do and like to do.
But how long such cruelty will be tolerated is a million dollar question?
How long top executives and CEOs forming IBA will kill their own conscience and commit unethical acts and work against all moral values.
I ask IBA team leaders and veteran trade union leaders to peep into their own mind and heart, try to affirm and reaffirm whether core of their heart permits such divisive and discriminatory agreement. If their heart and soul, their conscience do not allow discrimination, they should at least now rectify their error . It is never too late.
Suppose if majority union decides that female employees will be given three increments less than male employees though they male and female perform same duty in the bank. , Can such unconstitutional agreement be treated as valid only because the same has been signed by a union representing majority of members?
Are we living in a jungle of sheep?
Another point is that the disputed agreement was signed by leaders of majority union. If leaders become victim of management, if leaders become hostile to members due to self interest, if leader’s intention become malicious there is all possibility of betrayal such as anti-member decision, divisive wage agreement, discriminatory treatment to divide them, sacrificing the interest of members to serve self interest etc. There is country wide protest and several writs have been filed in various courts of the country against the disputed clause which shows that the said agreement signed by leaders of majority union is not liked by majority of members. When leaders found that member can now resign or revolt against the union, they thought it better to release the arrear in hurry and recover the contribution from PF optees so that intensity of revolt is diluted. Further pension optees who are getting better treatment and who are getting full arrear will not support PF optees. This is called “Divide and Rule” policy. Leaders further took support of management in making recovery of Levy directly from arrear or pay slip to avoid the risk of member not paying levy in anger. All these fact reveal that union leaders realize from the core of their heart that they members are not happy with them.
When late Indira Gandhi, exPrime Minister of India lost her temper, she lost her conscience, she put all her opponents in jail, imposed emergency and without any fear of legal consequences or political reaction she misused the majority of her party in the Parliament to change the basic structure of the constitution. Similarly IBA has divided the bank employees in two segments, one pension optee and another PF optee and there is no doubt that bank management will use this division for imposing illegal recovery on PF optees. To add fuel to fire, IBA has created division even among various union leaders. This is why powerful protest against illegal recovery is not visible and management is taking advantage of this division and submitting illogical plea in the court to defend the discriminatory clause of the Bipartite Settlement. Those employees who are raising voices against misrule of IBA and union leaders are facing threatening of transfer or rejection in promotion process or posting at critical place or transfer from east to west or from north to south. Obviously reign on injustice will continue unabated until courts impose some punitive action against erring officials and leaders.
One more point raised by IBA in their affidavit filed in Madras High Court is that the second option of pension is not mandatory and employee at his will to opt or not to opt for pension. Days are not far when bank will curtail salary of all employees by 50% and give option to employee to continue in service or leave the job. In the initial offer for pension bank did not put any condition and hence there is no logic to put condition of recovery in the present offer of pension.
Union leaders have got no right to damage career of any individual or cause financial loss to any single person, not to speak of 3 lacs employees PF optees. When PF optees have also contributed in pension fund along with pension optees in the past during 7th and 8th Bipartite Settlement, there is no question of making recovery this time only from PF optees only to bridge the gap of 1800 crores. It is worthwhile to mention here that bank management has saved interest to the tune of 1800 crores by merely delaying the settlement for 30 months. Further bank will earn interest on money recovered from PF optees (total of 1800 crores from PF optees) till the court finally stops such illegitimate deduction.
Further when these union leaders called for strike or agitation programme, the same was put in action by all the employees including PF optees and not by PF or pension optees alone. Never in the past, had these union leaders ever told that second option for PF optees will be purchased by paying three months salary to pension fund. Had it been so there was no need to wait for 15 to 17 years, it could have been easily offered by PBA in 1995 itself.
When union leaders and IBA both had unanimous view of 1.6 times recovery and they have expressed the same in their separate affidavits, what happened during last two three days that both parties changed their view and agreed for recovery from only PF optees. Such discriminatory agreement pass the test of existing laws and the provision of constitutionally granted fundamental right called as Equality before law.
Already bank management has been violating spirit of transfer policy and promotion policy just to please union leaders and to conceal the misdeeds of corrupt executives. Management even does not hesitate to compromise lending policy or ethics behind waiver or comprise settlement with willful defaulters.
80% of officers belonging to the state of Jharkhand, Bihar, Orrisa and a few other states are posted outside their parent state and transferred whimsically frequently whereas those of the state of Maharashtra, Tamilnadu and West Bengal are seldom transferred outside their state for three decades and more. In the name of exigencies of work officers are transferred from one corner to other in clear cut violation of transfer policy. Similarly in the name of interview in promotion processes, higher management in nexus with union leaders promote or reject officers as per their sweet will and thus perpetuating arbitrary rule and reign of injustice.
Now they have jointly committed fraud with PF optees, they have cheated PF optees, they have extended biased benefits to scale four officers at the cost of junior level officers, they have caused loss to senior officers by stagnating them and depriving them of annual increments and what not.......
Reason behind continuance of such atrocities is that banks in general give choice posting to union leaders, militant officers, out of turn promotion to inefficient and corrupt employees, avoid punitive action against even fraudulent and charge sheeted employees to create a team of truely loyal and flatterers .This time IBA has created a team of pension optees who will blindly support misrule of Bank Management. If hundred or thousand employees are promoted even if they are not fit for the same, these promotees will become truely loyal to bank bosses. On the other hand if honest and performers are promoted, such promotees will never flatter their bosses or support blindly IBA.This is also a proof of “Divide and Rule” policy adopted by bank management. Similarly Union leaders are never transferred from their home town, they are given preferred treatment, hotel expenses and what not to make them blind supporter of what management do and like to do.
But how long such cruelty will be tolerated is a million dollar question?
How long top executives and CEOs forming IBA will kill their own conscience and commit unethical acts and work against all moral values.
I ask IBA team leaders and veteran trade union leaders to peep into their own mind and heart, try to affirm and reaffirm whether core of their heart permits such divisive and discriminatory agreement. If their heart and soul, their conscience do not allow discrimination, they should at least now rectify their error . It is never too late.
Wednesday, July 07, 2010
AIBEA exposed itself in Madras High Court
This refers to 9th bipartite settlement signed by Banks and Trade union leaders of bank employees on 27th April 2010 which contains a lot of divisive and discriminatory clauses. Writs have been filed in various high courts against the said settlement and Madras High Court has even granted interim stay on illegal and unjustified recovery from PF opteees who have been given a second chance to switch over to pension optees segment of employees in the said agreement. Contesting defendants in the court called as AIBEA or AIBOC have filed an affidavit that they represent majority of employees and tried to justify the disputed clause on this plea.
Are AIBEA or AIBOC representing 90% of employees entitled to introduce any whimsical clause in Bipartite Settlement, frame any whimsical policy or sign any illegal agreement even if it violates the existing book of laws, spirit of the Constitution, fundamental right of equality before law?
It appears to me as if majority of employees have empowered union leaders to do whatever suits to them. This is why they are negotiating with the management on posting, transfer of their friends, relatives, and flatterers, reducing punishment of their corrupt colleagues and similarly recommending promotion of officers through members of Interview panel. Union leaders are godfather of 90% of employees and hence they are blackmailing with the management on waiver of big loans and taking their share in the cake. They are all in all for majority of employees and hence they have shut their eyes on manipulation carried out by the management in balance sheets, turned their blind eyes on shortage of manpower in branches, whimsical transfers of a good number of good officers to remote places , prevailing corrupt practices in loans and advances, rampant corruption in contractual works undertaken by banks to open branches, ATMs or in renovation work, transfer of employees, promotion of employees and so on..........................
But court do not consider this fact whether a union represents 90 % of employee or 9% of employees. Even if one person is cheated by bank management, court is not supposed to accept the logic of Trade Union leaders only because they represent majority of employees. Indian courts are not guided by heard of sheep. Courts decide the matter on the merit of the issue and not on the number of persons supporting the issue. Court test the issue from the angle of existing laws and not on he basis of momentum of crown backing the issue.
Late Indira Gandhi changed the basic structure of Indian Constitution in perhaps 1976 when her own vested interest was defeated by her opponent Raj Narayan and when she thought that her post of Prime Minister was at risk. She imposed emergency and promoted all types of excesses through her flatterers. Even bachelors were forced to pass through family planning operation. No doubt Indira Gandhi perpetuated her reign of injustice for a year or two because she was in power and a team of flatterers was backing her.
But the anger of victim people aggravated and turned into a movement against her. With the support of leadership of Jai Prakash Narayan she was removed, she was defeated in the election, she had to face huge humiliation and at a later date even the Apex court set aside the 42nd amendment.
Similarly reign of injustice will prevail in banking industry as long as our protectors are corrupt and the so called trade union leaders in disguise of saviors are working in nexus with top officials of management for their self interest. Reign of injustice is continuing uninterrupted only because it takes two or three decades in getting judgment from Indian courts. Whimsical transfers and arbitrary promotions are taking place year after year only because top officials know that the victim cannot go to court for justice in fear of high cost and repercussion from the bank management.
But they should keep in mind that days are not far when three lac employees called as PF optees who are the greatest sufferer of the said Bipartite Settlement will turn the tide against the management and the so called leaders of Tread unions too.
Rules are made for justice and they cannot be violated by a crowd of miscreants only because they represent majority of residents in the locality. A group of flatterers cannot be allowed to hijack the laws of land only because they are in power or they represent majority of employees.
Last but not the least, It will not be exaggeration to say that this team of flatterers will not only break the heart of true workers in the banking industry but will also badly affect the health of bank, intrinsic value of the bank, demotivate the work force and what not.......
Team of flatterers has committed a historic blunder in the said Bipartite Settlement and they will never be excused by any law abiding person. Divisive and discriminatory approach of such flatterers will be exposed sooner or later.
………………..Keep patience. I am very much confident that voice of inner conscience will prevail upon the madness and devilous egoism currently in the minds of union leaders and top CEOs of top banks.
Are AIBEA or AIBOC representing 90% of employees entitled to introduce any whimsical clause in Bipartite Settlement, frame any whimsical policy or sign any illegal agreement even if it violates the existing book of laws, spirit of the Constitution, fundamental right of equality before law?
It appears to me as if majority of employees have empowered union leaders to do whatever suits to them. This is why they are negotiating with the management on posting, transfer of their friends, relatives, and flatterers, reducing punishment of their corrupt colleagues and similarly recommending promotion of officers through members of Interview panel. Union leaders are godfather of 90% of employees and hence they are blackmailing with the management on waiver of big loans and taking their share in the cake. They are all in all for majority of employees and hence they have shut their eyes on manipulation carried out by the management in balance sheets, turned their blind eyes on shortage of manpower in branches, whimsical transfers of a good number of good officers to remote places , prevailing corrupt practices in loans and advances, rampant corruption in contractual works undertaken by banks to open branches, ATMs or in renovation work, transfer of employees, promotion of employees and so on..........................
But court do not consider this fact whether a union represents 90 % of employee or 9% of employees. Even if one person is cheated by bank management, court is not supposed to accept the logic of Trade Union leaders only because they represent majority of employees. Indian courts are not guided by heard of sheep. Courts decide the matter on the merit of the issue and not on the number of persons supporting the issue. Court test the issue from the angle of existing laws and not on he basis of momentum of crown backing the issue.
Late Indira Gandhi changed the basic structure of Indian Constitution in perhaps 1976 when her own vested interest was defeated by her opponent Raj Narayan and when she thought that her post of Prime Minister was at risk. She imposed emergency and promoted all types of excesses through her flatterers. Even bachelors were forced to pass through family planning operation. No doubt Indira Gandhi perpetuated her reign of injustice for a year or two because she was in power and a team of flatterers was backing her.
But the anger of victim people aggravated and turned into a movement against her. With the support of leadership of Jai Prakash Narayan she was removed, she was defeated in the election, she had to face huge humiliation and at a later date even the Apex court set aside the 42nd amendment.
Similarly reign of injustice will prevail in banking industry as long as our protectors are corrupt and the so called trade union leaders in disguise of saviors are working in nexus with top officials of management for their self interest. Reign of injustice is continuing uninterrupted only because it takes two or three decades in getting judgment from Indian courts. Whimsical transfers and arbitrary promotions are taking place year after year only because top officials know that the victim cannot go to court for justice in fear of high cost and repercussion from the bank management.
But they should keep in mind that days are not far when three lac employees called as PF optees who are the greatest sufferer of the said Bipartite Settlement will turn the tide against the management and the so called leaders of Tread unions too.
Rules are made for justice and they cannot be violated by a crowd of miscreants only because they represent majority of residents in the locality. A group of flatterers cannot be allowed to hijack the laws of land only because they are in power or they represent majority of employees.
Last but not the least, It will not be exaggeration to say that this team of flatterers will not only break the heart of true workers in the banking industry but will also badly affect the health of bank, intrinsic value of the bank, demotivate the work force and what not.......
Team of flatterers has committed a historic blunder in the said Bipartite Settlement and they will never be excused by any law abiding person. Divisive and discriminatory approach of such flatterers will be exposed sooner or later.
………………..Keep patience. I am very much confident that voice of inner conscience will prevail upon the madness and devilous egoism currently in the minds of union leaders and top CEOs of top banks.
Saturday, July 03, 2010
Pranab Mukherjee
"Asli Chehra" - TRUE FACE OF BANK UNIONS
Immediately after the settlement, most of the unions patted their back for the so called "historic settlement". Slowly as they started facing volley of questions from the members, they came out with various theories to justify their action, which included the so called legal opinion and IBA's stiff attitude which forced them to agree to recovery from only PF optees to the tune of 2.8 times of the November 2007 pay. An impression was being created by them as if they were not in favour the same till 26th April, 2010, but somehow they were cornered so much that they had to agree to the terms set by IBA. If that would have been the case, then they would not now oppose the petition pending in Madras High Court. That shows the double standards.
But soon the bankers will be able to see the "Asli Chehra" (i.e. True Face) of these union leaders. These union leaders will now not be able to beat around the bush and befool the members by shedding crocodile tears. They have to take a stand in the Madras High Court, as to whether they are in favour of payment by all employees / officers @ 1.6 times or they favour 2.8 times only from PF optees. Some of these unions have already been exposed. Let us see what does the market reports say as at the end of June, 2010.
It is reported that during the course of hearing of the case at Madras High Court, while opposing the interim stay granted by Madras High Court, advocates of IBA, and AIBEA and NCBE, requested for vacation of the stay. AIBEA and NCBE were represented by one of the top most firm namely M/s Aiyar & Dolia and wanted vacation of the interim stay on recovery of 2.8 times only from PF optees to be vacated. So the stands of these two unions are very clear now. They will be using the members’ funds (including PF optees) for payment to the law firms and fighting case against them. However, the Hon’ble Judge advised them to file their counter affidavits and Ordered continuation of the Stay Order. Next hearing has been fixed for 6th July 2010.
Vide circular No. 98 dated 29th June, 2010. AIBOC has declared "We are in constant touch with the IBA and the Convenor of UFBU, to initiate appropriate steps to vacate the stay, at the earliest, to enable IBA to issue necessary instructions to member Banks on the Pension offer". Thus, AIBOC is also likely to oppose the move and appears to be in favour of payment by only PF optees".
(Remember, the stay is not against the Pension offer or issuing circular by IBA, it is only against immediate recovery of 2.8 times of pay of November, 2007 from PF optees. )
The stand of other unions will also be clear within a week, as court in its orders says ""Notice to respondents returnable by 06.07.2010. There shall be an interim order of stay". (all major unions are respondents in this case). The reports indicate that NOBW may support the petition filed by Canara Bank Workers Unions. Similarly, BEFI may not oppose the petition of Canara Bank Workers union. The protest by INBEF has already been incorporated in the affidavit filed in the Court.
If the above reports are true, then 29th June 2010 would be regarded as a sad day in the history of trade union movement of Banking Industry. Souls of great leaders like Parawana Ji would be feeling really sad and dejected.
Till now they have been propagating that they have been forced by the circumstances and situation to accept contributory pension scheme in banking industry. They are giving so many logics and have been pleading as to why they could not make IBA agree to the Pension Scheme in its original form of 1993. We are unable to find any logical reason from Unions wherein it joined hands with the union of the Management i.e. IBA to defeat the efforts of bank employees.
Duniya ke Mazdooron ek ho - Duniya ke mehanatkashon ek ho ka naara laagene waale aaj majdooron ke khilaf hi Court main jaa pahunche.
TESTING TIME IS NOT FAR WAY NOW. NOW THESE UNION LEADERS WILL NOT BE ABLE TO SAY THAT IBA DID NOT LET THEM SUFFICIENT TIME AND CORNERED THEM SO SUCH THAT THEY SIGNED THE SETTLEMENT ON 27TH APRIL, 2010. THEY HAVE SUFFICIENT TIME OF OVER A WEEK TO DECIDE WHETHER THEY WANT TO PROTECT THE INTERESTS OF PF OPTEES OR WANT TO DO WHAT IBA IS SAYING.
It has also been reported that some Banks have issued strict instructions for payment of arrears to all the employees / officers by 30th June, 2010 or so, after keeping 2.8 times of the pay of November, 2007 in suspense account. This clearly gives an indication that banks are in a hurry to pay arrears so that they can deduct 2.8 times from the arrears of PF optees before orders of Madras High Court are delivered to them through IBA. In court they will take the plea that notice of stay was not received by them and arrears have already been paid. As Canara Bank has also rushed to pay the arrears today after keeping the 2.8 recovery in suspense, Canara Bank Workers Union is likely to give a strong protest letter on 1st July, 2010 at their Head Office. Canara Bank Workers Union has informed that they are proceeding to Bangalore to personally handover the letter along with a copy of the court order and get the acknowledgement.
Now all the bankers have to take a final call as to whether these union leaders are with the workers or are working against them. We know it is a difficult task as they have to eat their own words. They have issued number of circulars justifying as to why and how they were cornered to agree this changed stand on the night of 26th and 27th April, 2010. However, this is the time when they can correct the mistakes as PF optees have shared the burden of pension even in the last two Bipartite settlements (7th and 8th). This information is now shared by almost everybody (which was not known earlier to 99% of the PF optees).
The unions opposing the petition will be spending lacs of rupees in the legal battle. All this money can be saved if they simple say that we do not oppose the petition and are in favour of the same.
LET PF OPTEES DECLARE THAT THEY WILL QUITE THEIR UNION (WHICHEVER IT MAY BE) IF THEIR UNION OPPOSES THE PETITION FILED BY CANARA BANK WORKERS UNION AT MADRAS HIGH COURT. LET COURT DECIDE THE CASE ON MERITS.
(Inputs also by kamlesh.chaturvedi@yahoo.com; canara bank workers unions etc )
UPDATE ON THE ORDERS ISSUED BY VARIOUS HIGH COURTS AGAINST RECOVERY OF 2.8 TIMES OF NOVEMBER 2007 PAY
In order to ventilate the grievances of the employees, Writ Petitions have been filed in various Hon’ble High Courts.
(A)The First Writ Petition was filed before the Hon’ble Andhra High Court bearing number Writ Petition No. 8237 of 2010 where in Hon’ble Court has passed following orders:
“ORDER: Interim order dated 13-04-2010, to continue, subject to final orders to be passed in this WPMP. Any settlement also, shall be subject to final orders in this WPMP.
Post after Summer Vacation, 2010.”
(B) Writ Petition No. (C) No.3729/2010 has been filed before Hon’ble Delhi High Court, where Hon’ble Court has passed following Orders on 28.05.2010:
“Issue notice to the respondents to show cause as to why rule nisi
be not issued, returnable on 30.07.2010. Necessary steps be taken within seven
days.”
(C) Subsequently, Division Bench of Hon’ble Allahabad High Court while disposing Special Appeal No. 947 of 2010 passed following orders Orders:
“Issue notice.
Respondents are allowed three weeks time to file counter
Affidavit.
List thereafter”
(D) And now recently a Writ Petition bearing no. WP 12269/2010 has been filed before Hon’ble High Court of Judicature at Madras, in the matter of Clause No. 32 of the industry level Wage Revision Settlement dated 27.04.2010 and also clause (1) of the Pension Settlement of even date, seeking a direction from the Hon’ble Court to quash the above clauses only in so far as the said clauses require the provident fund optees now in service to contribute 2.8 times of the Nov 2007 revised pay, if they want to opt for the pension scheme.
Hon’ble Justice K Venkataraman, who heard the matter has ordered an interim stay and the next date of hearing, has been fixed on 06 July 2010. A copy of this order is enclosed.
From what is stated here in above, it is evidently clear that Clause 32 of Settlement dated 27.04.2010 and Clause (1) of Pension Settlement dated 27.04.2010 has become subject matter of judicial scrutiny by the Hon’ble Courts and Hon’ble Madras High Court has passed orders to stay the operation of these clauses.
Wednesday, June 23, 2010
Strong Bank
Government is constrained to infuse capital in PSU banks year after year to salvage sinking banks or to boost up their capital adequacy ratio. Even World Bank is contemplating to infuse capital in selected banks in India to strengthen these banks. This reveals that PSU banks are actually growing weakness year after year and their balance sheets are nothing but result of window dressing in the style similar to which Satyam Computers applied to boost up image of the company.
PSU Banks are facing continuous erosion in their capital due to dirty policies of the government, politically motivated steps taken by the government and constraint in implementation of good policies. Inter bank interest rate competition, waiver of loan culture, financing based on political compulsions, constraints in recovery of loan from willful defaulters, undue delay in legal proceedings in want of proper judicial reforms, unhealthy HRD policies resulting in promotion of corrupt officers and demotivation of good officers etc are a few reasons which are causing great loss to banks and which has made the bank’s health poor and ultimately which forces government to infuse capital in banks.
It is to be noted here that when politicians take advantage of public money held in banks by resorting to loan melas or waiver of loan culture, bankers take it easy while lending to public. Bankers too do not hesitate in lending to improper companies and individuals with doubtful integrity just for their personal gain. There is no doubt bankers have inculcated wrong practices of flattery in banks. Executives, Branch heads, Regional Heads, Zonal Heads, EDs, CMDs focus on their personal status , personal earning by way of underhand dealings and indulge in flattery to their bosses, ministers, officers in banking divisions. They do not hesitate in taking malafide decisions just to please their bosses. Financing to wrong persons and taking gifts or money in return has become a common feature in banks at all levels.
If bankers do not earn illegal money they cannot please their bosses, government offices and even their juniors. Such honest officers cannot dream of promotion and good posting. As such earning money in credit delivery and sharing the same with bosses has become inevitable for survival in banks with dignity. Those officers who are not versed in this tact or modern art of survival or those who protest wrong financing are either posted at remote places or punished. Such genuinely loyal officers can never imagine of promotion or good posting. This is the main reason that bank officers holding key posts indulge in corrupt practice without caring for health of bank’s assets and this is the reason that intrinsic health of banks in general is not sound and banks always need financial support from government to survive.
But the million dollar question is who will bell the cat when Charter Accountant, officers working in rating agencies, officers in vigilance departments, officers working in bank’s own audit offices, advocates, key regulators all are birds of same feather.
23rd June 2010
PSU Banks are facing continuous erosion in their capital due to dirty policies of the government, politically motivated steps taken by the government and constraint in implementation of good policies. Inter bank interest rate competition, waiver of loan culture, financing based on political compulsions, constraints in recovery of loan from willful defaulters, undue delay in legal proceedings in want of proper judicial reforms, unhealthy HRD policies resulting in promotion of corrupt officers and demotivation of good officers etc are a few reasons which are causing great loss to banks and which has made the bank’s health poor and ultimately which forces government to infuse capital in banks.
It is to be noted here that when politicians take advantage of public money held in banks by resorting to loan melas or waiver of loan culture, bankers take it easy while lending to public. Bankers too do not hesitate in lending to improper companies and individuals with doubtful integrity just for their personal gain. There is no doubt bankers have inculcated wrong practices of flattery in banks. Executives, Branch heads, Regional Heads, Zonal Heads, EDs, CMDs focus on their personal status , personal earning by way of underhand dealings and indulge in flattery to their bosses, ministers, officers in banking divisions. They do not hesitate in taking malafide decisions just to please their bosses. Financing to wrong persons and taking gifts or money in return has become a common feature in banks at all levels.
If bankers do not earn illegal money they cannot please their bosses, government offices and even their juniors. Such honest officers cannot dream of promotion and good posting. As such earning money in credit delivery and sharing the same with bosses has become inevitable for survival in banks with dignity. Those officers who are not versed in this tact or modern art of survival or those who protest wrong financing are either posted at remote places or punished. Such genuinely loyal officers can never imagine of promotion or good posting. This is the main reason that bank officers holding key posts indulge in corrupt practice without caring for health of bank’s assets and this is the reason that intrinsic health of banks in general is not sound and banks always need financial support from government to survive.
But the million dollar question is who will bell the cat when Charter Accountant, officers working in rating agencies, officers in vigilance departments, officers working in bank’s own audit offices, advocates, key regulators all are birds of same feather.
23rd June 2010
Saturday, June 05, 2010
wage settlement in banks
Bank officers Association are getting monthly subscription of Rs.100 to Rs.200 from each member every month. In addition they will get levy of Rs.3000/ from each member in lieu of bipartite settlement signed on 27th April 2010. Members are happy or not, that is immaterial.
I think total accumulated fund of Officers Association in various banks will grow to hundreds of crores of rupees. This fund is not only enough to meet the usual traveling and staying expenses incurred by union leaders for various issues but also more than enough to meet even entire salaries of all union leaders.
As a matter of fact union leaders are more often than not, busy in union matters and hence they hardly do any work for the branch or office they are posted. It is pity that even officer community in general is not happy with their performance as union leaders. On the contrary their actual energy is lost in saving bad officers and seldom used for any gain for honest workers or for any relief to those honest officers who have been arbitrarily posted in critical areas or rejected in promotion processes due to ill motive of executives. They have failed in giving relief to officers who have been made scapegoat for fraud and irregular credit committed by corrupt officers.
In such position I am of the opinion that these union leaders should be removed from muster roll of the bank and bank should stop paying salary to these leaders. Instead such leaders should be professionally trained to serve the interest of officers who are associated with the union and they should be paid by their parent Union itself. In this way bank will save crores of rupees which are paid as salaries and perquisites to these non performing officers. Bank can use this saved money in creation of new jobs for hundreds and thousands of young unemployed persons. Besides, removing from bank’s duty, union leaders will have full time to think about their members. Since these leaders do only union activities, it will be right from all angle of consideration that their salary should be paid by union fund only.
In case officers do not agree to this proposal or they apprehend that their interest by outsiders will be jeopardized ,they should solemnly declare and take oath that they would not nominate any retired officer as their union leader in future and make best efforts to replace retired officers serving as union leaders with officers who are in service. Because leaders who are no more in service cannot fight seriously and devotedly for better interest of serving employees, rather they look into avenues to cheat serving employees and give maximum benefit to those who have either retired or resigned or removed from the bank. Latest settlement is the ideal example for such sorry state of affairs prevailing in Bank and pitiable position of officers compared to other employees working in Central Government offices or PSUs.
In addition to this they should be made accountable and punishable for any lapse on union activities and their performance should be judged by a group of hundred officers who are actively working in the bank. Expenses incurred by union leaders should be fully scrutinized by a team of at least ten Chartered Accountants and the certified balance sheet of union fund should be circulated among all members. Officer should also appoint some legal experts in each district or at least in state capitals to stop injustice perpetuated by bank management only because they know judicial proceedings in India is too costly and too much cumbersome and time consuming that one is constrained to bear with injustice.
Leaders will then learn a lesson, understand the importance of their role and at least not repeat the history of committing blunder of signing a agreement of wage revision which has instead of solving problems of their poorly paid members has created so many anomalies and tried its best to divide officers community by accepting various discriminatory rules like recovery from PF optees (leaving pension optees), causing loss to VRS optees, resignees, family pension takers, fitment of officers at the state of Rs23520 in scale III and that in scale IV at the same stage and so on. Not only this, many clerks will get better arrear due to this latest settlement compared to officers in junior or middle management. There is no Stagnation in any increment of Central Government employees in ay cadre as per latest Pay Commission Report, but it continues to deprive senior office of annual increment for none of their fault.
If we talk of other issues, it is worthwhile to mention here that management in collusion with violating even their transfer policies, misusing policy meant for rural posting framed by Government of India, misusing policy for posting in North East region, giving promotion to corrupt and flatter officers taking advantage of Interview marks (which an interviewer can give whimsically to make or mar the career of an officer of his choice) Union leaders is silent spectator of torturous treatment given to good officers who are real performers but who do not have time to flatter executives and provide costly gifts to their bosses.
There are thousands of officers who have been continuously working in villages, officers in Non Metros are transferred frequently form one region to other, one state to other and even one zone to other whereas officers posted in Metros are seldom transferred out of their parent state. There is a policy that upto scale III officers will not be transferred out of region but this policy is violated frequently and union leaders remain silent spectators.
There is a policy that an officer cannot work in a region for ten years continuously, management allows many to continue or adjust them back in the same place after giving a formal break of one month outside the state. Is this not enough to prove that there is reign of injustice under the umbrella of union leaders?
Banks are performing better and better despite man power constraints but the real fruits of this growth are hardly shared with junior officers who work hard day and night for the growth.
Danendra Jain
Agartala
05.06.2010
I think total accumulated fund of Officers Association in various banks will grow to hundreds of crores of rupees. This fund is not only enough to meet the usual traveling and staying expenses incurred by union leaders for various issues but also more than enough to meet even entire salaries of all union leaders.
As a matter of fact union leaders are more often than not, busy in union matters and hence they hardly do any work for the branch or office they are posted. It is pity that even officer community in general is not happy with their performance as union leaders. On the contrary their actual energy is lost in saving bad officers and seldom used for any gain for honest workers or for any relief to those honest officers who have been arbitrarily posted in critical areas or rejected in promotion processes due to ill motive of executives. They have failed in giving relief to officers who have been made scapegoat for fraud and irregular credit committed by corrupt officers.
In such position I am of the opinion that these union leaders should be removed from muster roll of the bank and bank should stop paying salary to these leaders. Instead such leaders should be professionally trained to serve the interest of officers who are associated with the union and they should be paid by their parent Union itself. In this way bank will save crores of rupees which are paid as salaries and perquisites to these non performing officers. Bank can use this saved money in creation of new jobs for hundreds and thousands of young unemployed persons. Besides, removing from bank’s duty, union leaders will have full time to think about their members. Since these leaders do only union activities, it will be right from all angle of consideration that their salary should be paid by union fund only.
In case officers do not agree to this proposal or they apprehend that their interest by outsiders will be jeopardized ,they should solemnly declare and take oath that they would not nominate any retired officer as their union leader in future and make best efforts to replace retired officers serving as union leaders with officers who are in service. Because leaders who are no more in service cannot fight seriously and devotedly for better interest of serving employees, rather they look into avenues to cheat serving employees and give maximum benefit to those who have either retired or resigned or removed from the bank. Latest settlement is the ideal example for such sorry state of affairs prevailing in Bank and pitiable position of officers compared to other employees working in Central Government offices or PSUs.
In addition to this they should be made accountable and punishable for any lapse on union activities and their performance should be judged by a group of hundred officers who are actively working in the bank. Expenses incurred by union leaders should be fully scrutinized by a team of at least ten Chartered Accountants and the certified balance sheet of union fund should be circulated among all members. Officer should also appoint some legal experts in each district or at least in state capitals to stop injustice perpetuated by bank management only because they know judicial proceedings in India is too costly and too much cumbersome and time consuming that one is constrained to bear with injustice.
Leaders will then learn a lesson, understand the importance of their role and at least not repeat the history of committing blunder of signing a agreement of wage revision which has instead of solving problems of their poorly paid members has created so many anomalies and tried its best to divide officers community by accepting various discriminatory rules like recovery from PF optees (leaving pension optees), causing loss to VRS optees, resignees, family pension takers, fitment of officers at the state of Rs23520 in scale III and that in scale IV at the same stage and so on. Not only this, many clerks will get better arrear due to this latest settlement compared to officers in junior or middle management. There is no Stagnation in any increment of Central Government employees in ay cadre as per latest Pay Commission Report, but it continues to deprive senior office of annual increment for none of their fault.
If we talk of other issues, it is worthwhile to mention here that management in collusion with violating even their transfer policies, misusing policy meant for rural posting framed by Government of India, misusing policy for posting in North East region, giving promotion to corrupt and flatter officers taking advantage of Interview marks (which an interviewer can give whimsically to make or mar the career of an officer of his choice) Union leaders is silent spectator of torturous treatment given to good officers who are real performers but who do not have time to flatter executives and provide costly gifts to their bosses.
There are thousands of officers who have been continuously working in villages, officers in Non Metros are transferred frequently form one region to other, one state to other and even one zone to other whereas officers posted in Metros are seldom transferred out of their parent state. There is a policy that upto scale III officers will not be transferred out of region but this policy is violated frequently and union leaders remain silent spectators.
There is a policy that an officer cannot work in a region for ten years continuously, management allows many to continue or adjust them back in the same place after giving a formal break of one month outside the state. Is this not enough to prove that there is reign of injustice under the umbrella of union leaders?
Banks are performing better and better despite man power constraints but the real fruits of this growth are hardly shared with junior officers who work hard day and night for the growth.
Danendra Jain
Agartala
05.06.2010
Thursday, May 20, 2010
United Forum of Bank employees
Government framed policy for posting of bank employees in Villages as also for posting in North Eastern States to promote rural banking and to help development work in rural areas and North Eastern states. But management of banks have always misused this excellent policy to discard non-flatterers and to torture those employees who do not indulge in corrupt practices and who do not implements bad orders of the executives.
RBI or any investigating agency on honest inquiry will find that some officers have been working in villages for two or three decades whereas flatterers of the top officials of the management have been allowed to work in Metros for decades together. When an officer do not provide gifts to General Manager, he is posted in North Eastern States on the plea of Non Performance whereas those who commit fraud or indulge in irregular credits but always provide golden gifts to GMs, DGMs, AGMs in the name of some function either of inauguration or customer’s meeting are allowed to remain in big towns.
Some officers are simply creating bad advances and some others are constrained to recover the bad advances merely to save the corrupt officers from punishment. This is why loans or advances become Sub Standard in one or two years of its disbursement. It is also a bitter fact that such bad advances are concealed by gifting Auditors and inspectors and treated as good advances till the sanctioning officer wither is promoted or get safe exit from the bank. Honest workers are made scapegoat for the misdeeds of big executives.. It is undeniably truth that excellent results exhibited through annual balance sheets are due to devoted work of good performers and it is they who are salvaging banks from the misdeeds of bad officers. As such shining balance sheet of a bank should not give conclusion that the results shown are hard work of top officials sitting in AC rooms but that of field workers who are head of a branch and who is doing hard worker even under acute manpower shortage. In banks manpower is adequately provided only to flatterers even if he has caused banks crores of rupees. Until RBI or CBI catch hold of corrupt executives and punish the evil performers and at the same time award those officers who have been whimsically kept away from promotions and unless good officers are given respectable posting and promotions one cannot imagine of any rise in intrinsic value of any bank
On the contrary PSU banks are facing erosion in intrinsic value due to dirty implementation of apparently good HRD policies. In the name of Interview any employee can be deprived of and denied of promotion. Power makes executive corrupt if the decisions made by them are not transparent and subject to review. Root cause of persistence and promotion of such corrupt officers is due to the bitter fact that even courts fail to provide justice in decades together and this is why management bosses indulge in whimsical promotions, arbitrary transfers and postings.
I request bank officers to send their personal experience and story of corrupt officers to me at dkjain49709@rediffmail.com so that such illustration may be incorporated in PIL to be filed in the court. These information will be helpful in seeking information from bank under Right to Information Act to expose the true colour of officers who have been holding top posts in the bank and who have been getting continuous shelter from Banking division, RBI and Ministry of Finance. The aggrieved officer may also send the real story about them, how they have been cheated by their bosses, how they have been denied promotion and how they have been given always critical posting. After all how long you will bear with injustice in fear of repercussion from higher authorities. One has to come out of imaginary fear and expose the true picture of bad officers. How long meritorious and talented officer will face humiliation and posting against their dignity.
I will come with name of AGM,DGM ,GM,CM and BM and tell the officer community and Government of India how reign of injustice prevails in the banking industry. I need your cooperation in making a strong case against some of CMDs who are recognized as star performers but under the shelter of such CMDs ,their left and right hand officers who themselves are facing CBI charge sheets are exploiting power for self interest.
RBI or any investigating agency on honest inquiry will find that some officers have been working in villages for two or three decades whereas flatterers of the top officials of the management have been allowed to work in Metros for decades together. When an officer do not provide gifts to General Manager, he is posted in North Eastern States on the plea of Non Performance whereas those who commit fraud or indulge in irregular credits but always provide golden gifts to GMs, DGMs, AGMs in the name of some function either of inauguration or customer’s meeting are allowed to remain in big towns.
Some officers are simply creating bad advances and some others are constrained to recover the bad advances merely to save the corrupt officers from punishment. This is why loans or advances become Sub Standard in one or two years of its disbursement. It is also a bitter fact that such bad advances are concealed by gifting Auditors and inspectors and treated as good advances till the sanctioning officer wither is promoted or get safe exit from the bank. Honest workers are made scapegoat for the misdeeds of big executives.. It is undeniably truth that excellent results exhibited through annual balance sheets are due to devoted work of good performers and it is they who are salvaging banks from the misdeeds of bad officers. As such shining balance sheet of a bank should not give conclusion that the results shown are hard work of top officials sitting in AC rooms but that of field workers who are head of a branch and who is doing hard worker even under acute manpower shortage. In banks manpower is adequately provided only to flatterers even if he has caused banks crores of rupees. Until RBI or CBI catch hold of corrupt executives and punish the evil performers and at the same time award those officers who have been whimsically kept away from promotions and unless good officers are given respectable posting and promotions one cannot imagine of any rise in intrinsic value of any bank
On the contrary PSU banks are facing erosion in intrinsic value due to dirty implementation of apparently good HRD policies. In the name of Interview any employee can be deprived of and denied of promotion. Power makes executive corrupt if the decisions made by them are not transparent and subject to review. Root cause of persistence and promotion of such corrupt officers is due to the bitter fact that even courts fail to provide justice in decades together and this is why management bosses indulge in whimsical promotions, arbitrary transfers and postings.
I request bank officers to send their personal experience and story of corrupt officers to me at dkjain49709@rediffmail.com so that such illustration may be incorporated in PIL to be filed in the court. These information will be helpful in seeking information from bank under Right to Information Act to expose the true colour of officers who have been holding top posts in the bank and who have been getting continuous shelter from Banking division, RBI and Ministry of Finance. The aggrieved officer may also send the real story about them, how they have been cheated by their bosses, how they have been denied promotion and how they have been given always critical posting. After all how long you will bear with injustice in fear of repercussion from higher authorities. One has to come out of imaginary fear and expose the true picture of bad officers. How long meritorious and talented officer will face humiliation and posting against their dignity.
I will come with name of AGM,DGM ,GM,CM and BM and tell the officer community and Government of India how reign of injustice prevails in the banking industry. I need your cooperation in making a strong case against some of CMDs who are recognized as star performers but under the shelter of such CMDs ,their left and right hand officers who themselves are facing CBI charge sheets are exploiting power for self interest.
Saturday, April 03, 2010
Truth of Banks Health
It has been the demand of many bankers before RBI to relax norms for classification of assets as Non performing Assets. It is because most of banks are showing profits by hiding bad assets and cutting down the amount of provision and booking inflated profit on unearned income. Banks know very well that concealed NPA are likelty to explode if norms are norms are relaxed by RBI.
RBI has infused capital in so many banks so many times in the past because they also know very well how bankers are cooking their balance sheets by concealing bad assets and window dressing in credit delivery and deposit mobilization. Government of India waived loans of 70000 crores last year before the evil activities of banks are revealed by Auditors. Waiver of loan and compromise settlement is an on going process where banks are constrained to sacrifice good money in bad hands.
CMD who flatter Ministry and key figure in the government is believed blindly as long as big exposure takes place as happened with Satyam Computers. Once upon a time Chairman of Indian bank was most beloved figure in banking circle, but when reality came on the floor, he was thrown out of system. I have been regularly writing on various forums on this subject in my language and as peer my competence to open the eyes of person sitting at the top of affairs. In banks , an officer who try to say the truth is thrown ina remotest place to shut his mouth.
As a matter of fact none wants to say and accept the truth and think it wise to remain in fool’s paradise.
There are several Harshad Mehtas, several Raju, many Ketan Parikh, many Natwarlals ,Many Kodas,many fake Sai Babas, Many Icchadharis, a lot of Mayawatis,several Lalus , hundreds of Mulayams, plenty of Rabri Devi in our country who earn unparallel popularity and after a few years face severest erosion in it and have to bear with just reversal in popularity with greater momentum. When they go up in their ladder even if by fake means, media and so called great leaders start worshiping them, following them blindly.
In share market when share prices of a script goes up, all experts on TV and all investors start recommending and buying it. Suddenly real value of that script comes on the floor and all experts starting giving negative news for the same script. Similarly some people are worshipped and condemned without knowing the facts.
Is there anyone who will investigate and discover the real and intrinsic value of PSU BANKS?
Danendra Jain
Ganaraj Chumuhani
Agartala
03.04.2010
Sunday, February 28, 2010
Relief in Provision to banks
Government has been using banks as convenient method for mobilization of rural votes since long. They are for this purpose announcing waiver of loan frequently. This time they have extended repayment period further for six months because they know very well that farmers have developed a habit not to repay the dues of the bank till government comes forward with new scheme of either waiver of loan or compromise scheme for delayed repayment. Gradually small traders have also developed this tendency not to repay the loan availed by them from banks.
As a result banks have either to waive the loan given to farmers and small traders or treat the bad account as standard account till government announces new relief scheme. There is no repayment culture and I am unable to understand how long this vicious circle of reckless and blind lending and then waiver of credit may help banks survive. How long concocted and window dressed balance sheet may help banks in portraying attractive picture in balance sheet.
To add fuel to fire government has allowed private banks to be established in all districts to act as local banks. Already numerous Regional Rural Banks and Cooperative banks are actively participating in rural credit and suffering from huge loss due to non-repayment culture created by vote bank politics of ruling party. Health of these cooperative banks is so bad that government has to keep interest free fund in these banks in many states and also prove capital to them to ensure survival of these banks on ventilator. Many cooperative banks have declared bankruptcy during last two three decades. Now addition of rural banks will add fuel to fire. Either these local banks will exploit the rural people by charging high interest rate or by keeping their properties or gold in mortgage as they used to do before nationalization of banks. Both ways it is farmers who will suffer and ultimately they will either leave farming or migrate to towns in search of labour oriented unskilled job or commit suicide or make the banks sick by not repaying the bank's loan.
I fail to understand why politicians of this country do not understand the ground reality and try to please farmers and banks by jeopardizing their health and killing them through slow poison. At present they talk of Indian growth story and speak with pride that Indian government is decoupled with sub prime crisis of America. They should know that due to high standard of living and low earning capacity most of the American used to take loans from banks for consumption and there were many bankers (Indian government is also increasing number of banks in rural areas through addition of newly conceptualized private local banks) who were ready to lend them though at higher rate of interest. But consequence of this unhealthy practice ultimately precipitated Sub prime crisis when banks started falling like playing cards and poor American started committing suicide or selling their blood for survival
Danendra Jain
Ganaraj Choumuhani Agartala 799001
1st march 2010
As a result banks have either to waive the loan given to farmers and small traders or treat the bad account as standard account till government announces new relief scheme. There is no repayment culture and I am unable to understand how long this vicious circle of reckless and blind lending and then waiver of credit may help banks survive. How long concocted and window dressed balance sheet may help banks in portraying attractive picture in balance sheet.
To add fuel to fire government has allowed private banks to be established in all districts to act as local banks. Already numerous Regional Rural Banks and Cooperative banks are actively participating in rural credit and suffering from huge loss due to non-repayment culture created by vote bank politics of ruling party. Health of these cooperative banks is so bad that government has to keep interest free fund in these banks in many states and also prove capital to them to ensure survival of these banks on ventilator. Many cooperative banks have declared bankruptcy during last two three decades. Now addition of rural banks will add fuel to fire. Either these local banks will exploit the rural people by charging high interest rate or by keeping their properties or gold in mortgage as they used to do before nationalization of banks. Both ways it is farmers who will suffer and ultimately they will either leave farming or migrate to towns in search of labour oriented unskilled job or commit suicide or make the banks sick by not repaying the bank's loan.
I fail to understand why politicians of this country do not understand the ground reality and try to please farmers and banks by jeopardizing their health and killing them through slow poison. At present they talk of Indian growth story and speak with pride that Indian government is decoupled with sub prime crisis of America. They should know that due to high standard of living and low earning capacity most of the American used to take loans from banks for consumption and there were many bankers (Indian government is also increasing number of banks in rural areas through addition of newly conceptualized private local banks) who were ready to lend them though at higher rate of interest. But consequence of this unhealthy practice ultimately precipitated Sub prime crisis when banks started falling like playing cards and poor American started committing suicide or selling their blood for survival
Danendra Jain
Ganaraj Choumuhani Agartala 799001
1st march 2010
Saturday, February 27, 2010
Will to wipe out Corruption
Many people have suggested many ways to fight out corruption, many departments have been set up in the country to look into such cases of mal practices and there are CBI, CVC, CID, Police station, public relation offices, Anti Corruption Bureau and many similar offices throughout the country which have been established to fight out corruption. But the fact is that inspite of all so called efforts by government or by all teachings in schools and colleges or all preaching by saints; people prefer indulging in corrupt practices in greed of money and power. For such cases, strict and quickest penalty and punishment is needed without involving the delay oriented processes or two three decades of proceeding in the courts and various linked offices.
It is ridiculous that Government has to prove that Kasab is a terrorist though entire world has seen him attacking in India. Corrupt officers are caught red handed but not punished in India and on the contrary honest persons are punished because they do not flatter bosses. Person involved in big scams and scandals, persons committing frauds and cheatings are not punished for decades together and declared innocent by courts and released by police. Good persons have lost faith in the administrative, judiciary and police machinery. This exhibits the most painful and sorry state of affairs prevailing in the country.
As such to cure cancer of corruption, Government, the courts and the police should send a clear cut message all over the country that they are honest, serious, active, effective not by words but through their action that culprit will be punished, punished and punished without the fear or any repercussions or without looking into any favour or recommendation from any heavy weight from the society.
Million dollar question is who will bring out suitable reformation in the system when even PM expresses helplessness, Pranab Mukherjee Finance Minister talks about fault in delivery mechanism but expresses helplessness. Law Minister fails to bring about judicial reform, Home Minister has got no time to look into this gigantic and Himalayan task, president of India is helpless, and so on
Fact is that there is no will to take action against criminals, evil doers and malpractice perpetuator. If there is a will there is a way. We have seen T N Shesan and we have seen many such IAS and IPS officers who by virtue of their effectiveness have created an image that the criminals leave the district in which such officers are posted. It is true that such officers are unpalatable to ruling politicians and it is also true that such officers has to face frequent transfer, humiliating treatment , rejection in promotion process, posting at the most critical places and so on.
Ruling party may be Congress Party or BJP or communist party or any other regional party. None of the political parties have exhibited their commitment to fight out evil from the society through their actions. Mutual blame game continues in Parliament since the day we got Independence. It is unfortunate that even Parliament and state Assemblies are used in blame game and not in discussion and debate to evolve best strategy to deal with evil forces.
Danendra Jain
Ganaraj Choumuhani Agartala 799001
28.02.2010
It is ridiculous that Government has to prove that Kasab is a terrorist though entire world has seen him attacking in India. Corrupt officers are caught red handed but not punished in India and on the contrary honest persons are punished because they do not flatter bosses. Person involved in big scams and scandals, persons committing frauds and cheatings are not punished for decades together and declared innocent by courts and released by police. Good persons have lost faith in the administrative, judiciary and police machinery. This exhibits the most painful and sorry state of affairs prevailing in the country.
As such to cure cancer of corruption, Government, the courts and the police should send a clear cut message all over the country that they are honest, serious, active, effective not by words but through their action that culprit will be punished, punished and punished without the fear or any repercussions or without looking into any favour or recommendation from any heavy weight from the society.
Million dollar question is who will bring out suitable reformation in the system when even PM expresses helplessness, Pranab Mukherjee Finance Minister talks about fault in delivery mechanism but expresses helplessness. Law Minister fails to bring about judicial reform, Home Minister has got no time to look into this gigantic and Himalayan task, president of India is helpless, and so on
Fact is that there is no will to take action against criminals, evil doers and malpractice perpetuator. If there is a will there is a way. We have seen T N Shesan and we have seen many such IAS and IPS officers who by virtue of their effectiveness have created an image that the criminals leave the district in which such officers are posted. It is true that such officers are unpalatable to ruling politicians and it is also true that such officers has to face frequent transfer, humiliating treatment , rejection in promotion process, posting at the most critical places and so on.
Ruling party may be Congress Party or BJP or communist party or any other regional party. None of the political parties have exhibited their commitment to fight out evil from the society through their actions. Mutual blame game continues in Parliament since the day we got Independence. It is unfortunate that even Parliament and state Assemblies are used in blame game and not in discussion and debate to evolve best strategy to deal with evil forces.
Danendra Jain
Ganaraj Choumuhani Agartala 799001
28.02.2010
Thursday, February 18, 2010
Respected Finance Minister
I am not an economist, nor an expert in finance management of the government. I however try to project my feelings. Liquidity crisis or Sub Prime Crisis occurred in USA and other European countries. How did it affect Indian economy in the year 2008 which forced Indian Government to sanction stimulus package in line with what Obama did in USA.
Is it true that export proceeds of goods exported to USA or any other countries were stopped by importing countries?
If not how did it result in liquidity crisis? When foreign countries stops import , real problem may arise in selling exportable goods in domestic market.
If export proceeds were really stopped by importing nations like USA, government could have been justified in sanctioning financial package for such affected exporters or manufacturers, but not justified in allowing benefit to all.
CRR and SLR were reduced to release liquidity for banks. Is it justified to provide such liquidity (interest free fund) to all banks whether they were associated with affected exporters or manufacturers or not?
Even if it is considered that release of liquidity or relaxation in tax in general without discriminating the real victim of said sub prime crisis of USA was justified, the matter of vital concern is whether government has ensured that affected units have actually benefited in any way from the said stimulus package.
Has government ensured that domestic demand of exportable goods has been created to compensate loss caused due to stoppage of exports?
If domestic demand has not increased, how the said affects units have utilized the stimulus package and how they could maintain the same turnover as they used to exhibit through export proceeds?
Has government tried to ascertain the proportion of stimulus package released for banks used for growth of manufacturing or export sector and what proportion invested in MF or parked in RBI at Repo rate to earn interest or dividend?
Is it not true that excess of fund provided to business units, traders, manufacturers and exporters resulted in huge hoarding, black-marketing and abnormal profit making?
If it is true, government should admit that the current price rise is nothing but the making of the government.
Income of poor people did not rise but prices showed relentless rise and this resulted in considerable erosion in purchasing capacity of poor and middleclass families. As a result demand of the consumer goods at grass root level has sharply come down.
Had the government avoided stimulus package, the exportable goods could have come in the domestic price at reasonable price and demand could have gone up to a considerable height and the end result could have given a boost to manufacturers and traders.
Further the government could have used the fund released through stimulus package in carrying out additional public investment to create additional demand and additional employment opportunities.
If there is a little bit relevance in points raised by me I think government should not hesitate in withdrawing stimulus package in gradual and comfortable manner. This will help in combating inflation and ease the burden of poor to a good extent.
If liquidity from banks is withdrawn, banks will not invest in MF, will not park surplus fund in RBI to earn interest at repo rate and at least not opt for sub-PLR lending to corporate or to real estate sector which benefits none other than upper class of the society.
Banks will be forced to mobilize deposit at some higher rate which will benefit poor and middle class families and pensioners to a greater extent. If lending rate to corporate goes a little bit higher, if rate for housing loan or loan for car goes higher I am very much confident and the experience of pre-reformation era reaffirms my belief that sale of these luxurious goods will not come down and neither nay corporate sector will stop their activities on account of little rise in borrowing rates.
Can I conclude now that the fear of global recession in India was artificial and maintenance of growth rate achieved by dint of the said stimulus package is also imaginary, unreal and willful exaggerated to hide the faulty policy and faulty execution of government’s good policies?
Danendra Jain
Ganaraj Choumuhani
Agartala 799001
18th Feb 2009
Is it true that export proceeds of goods exported to USA or any other countries were stopped by importing countries?
If not how did it result in liquidity crisis? When foreign countries stops import , real problem may arise in selling exportable goods in domestic market.
If export proceeds were really stopped by importing nations like USA, government could have been justified in sanctioning financial package for such affected exporters or manufacturers, but not justified in allowing benefit to all.
CRR and SLR were reduced to release liquidity for banks. Is it justified to provide such liquidity (interest free fund) to all banks whether they were associated with affected exporters or manufacturers or not?
Even if it is considered that release of liquidity or relaxation in tax in general without discriminating the real victim of said sub prime crisis of USA was justified, the matter of vital concern is whether government has ensured that affected units have actually benefited in any way from the said stimulus package.
Has government ensured that domestic demand of exportable goods has been created to compensate loss caused due to stoppage of exports?
If domestic demand has not increased, how the said affects units have utilized the stimulus package and how they could maintain the same turnover as they used to exhibit through export proceeds?
Has government tried to ascertain the proportion of stimulus package released for banks used for growth of manufacturing or export sector and what proportion invested in MF or parked in RBI at Repo rate to earn interest or dividend?
Is it not true that excess of fund provided to business units, traders, manufacturers and exporters resulted in huge hoarding, black-marketing and abnormal profit making?
If it is true, government should admit that the current price rise is nothing but the making of the government.
Income of poor people did not rise but prices showed relentless rise and this resulted in considerable erosion in purchasing capacity of poor and middleclass families. As a result demand of the consumer goods at grass root level has sharply come down.
Had the government avoided stimulus package, the exportable goods could have come in the domestic price at reasonable price and demand could have gone up to a considerable height and the end result could have given a boost to manufacturers and traders.
Further the government could have used the fund released through stimulus package in carrying out additional public investment to create additional demand and additional employment opportunities.
If there is a little bit relevance in points raised by me I think government should not hesitate in withdrawing stimulus package in gradual and comfortable manner. This will help in combating inflation and ease the burden of poor to a good extent.
If liquidity from banks is withdrawn, banks will not invest in MF, will not park surplus fund in RBI to earn interest at repo rate and at least not opt for sub-PLR lending to corporate or to real estate sector which benefits none other than upper class of the society.
Banks will be forced to mobilize deposit at some higher rate which will benefit poor and middle class families and pensioners to a greater extent. If lending rate to corporate goes a little bit higher, if rate for housing loan or loan for car goes higher I am very much confident and the experience of pre-reformation era reaffirms my belief that sale of these luxurious goods will not come down and neither nay corporate sector will stop their activities on account of little rise in borrowing rates.
Can I conclude now that the fear of global recession in India was artificial and maintenance of growth rate achieved by dint of the said stimulus package is also imaginary, unreal and willful exaggerated to hide the faulty policy and faulty execution of government’s good policies?
Danendra Jain
Ganaraj Choumuhani
Agartala 799001
18th Feb 2009
Saturday, February 13, 2010
M V Nair
Arbitrary promotion and whimsical transfer is the root cause of rampant corruption and culture of flattery to superiors. Culture of flattery to bosses and tendency to become Yesman of Ministers, MPs and MLAs is the root cause of all maladies prevailing in the society. Every employee in our country knows the bitter truth that only those who are yesmen of bosses can get elevation in their career or get cream and comfortable posting.
Most of MLS, MP and Ministers have accumulated properties worth many crores of rupees. Department of vigilance or CBI or Anti corruption cell or Economic offenders cell are silent spectators.
So many IAS and IPS officers have been found indulged in corrupt practices only because they have got the blessings of their mentor Ministers.
So many bank officers and executives have properties worth crores of rupees, which is far more than their total earning in their entire tenure. It is possible only because there is practically none to look into corrupt practices prevailing in the bank at higher level.
When Head of any department or office is corrupt, or when any minister in the government is corrupt it will be foolish to imagine of healthy culture down the line.
It is very difficult to survive with dignity when the boss is corrupt and when boss likes flattery.
Only when boss loves real performance, employees feel delighted in working sincerely.
When real performers are awarded, there will be positive motivation. On the contrary if corrupt is promoted and given good posting, it is but natural that people will be tempted to toe the line of boss even if it is wrong and unethical and against the interest of the organization
As long as we are unable to provide a reasoning based transfer and merit based promotion and as long as the wrong doers are not punished by either head of the department or by the courts we cannot imagine of stopping corrupt practices prevailing in the system and spreading like cancer in the society.
Old proverb survival for the fittest no more holds good. Now a days survival is possible only for the person who is well versed in flattery to bosses, who can earn money through ill methods and share the same with his bosses.
The bitter truth is that there is no foolproof method of providing perfectly merit-based promotion or seniority based promotion in any office. None of the promotion processes can ensure justice to all, justice to the organization and discomfort to none as long as the person responsible for carrying out the promotion process is dishonest and corrupt. When protectors become destructors, damage to society cannot be stopped,
One easy way to stop whimsical transfer and arbitrary promotion is to maintain transparency and abolish the requirement of passing through Interview for existing employees for getting promotion. Interview is such a test where Interviewers can easily spoil the candidates career.
During interview, key role is played by elements like bribe, gift, sources, godfathers, and flattery possessed by employee whose performance is assessed during interview. When Interviewer desires to promote an employee he raises easy questions or do not raise any question and give higher marks and on the contrary he may raises toughest and irrelevant questions before the candidate to reject him in the promotion process.
The interviewer as per his whims and fancies gives marks for interview and unfortunately there is no method to penalize such malicious interviewers or the interview team made of birds of the same feather. There is hardly any place for merit in the mind of Interview panel and this why whimsical promotions take place and a reign of injustice and that of corruption spreads like epidemic and is followed by inefficiency, frustration, depression and what not.
Last but not the least; our courts cannot deliver justice in decades. This eliminates the fear from the minds of interviewer and the aggrieved employee is constrained to bear with the rejection in promotion process. Justice delayed is justice denied. And when there is no hope of justice even from court, aggrieved person in promotion process is left with no alternative other than digesting the poison of injustice.
It is an open secret in our society that victim is afraid of lodging complain in police department against any type of criminal. Not to speak of promotions, management can torture an employee by using his power of transfer and posting an employee in the name of exigencies as per his sweet will.
I therefore request you to take immediate steps to ensure merit based transparent promotion and reasoning based transfers and posting in all offices. Only one remedy to cure disease of corruption is to award honest performers and sideline corrupt performers. Only the bearer knows where the shoe pinches is a right proverb in this regard.
IN BANKING INDUSTRY THERE ARE HUNDREDS OF OFFICERS WHO ARE FACING TRANSFER EVEN TWICE OR THRICE A YEAR WHEREAS OFFICERS SITTING IN METROS ARE SITTING IN ONE TOWN SINCE JOINING SAY FOR TWO OR THREE DECADES.
EVEN POLICY OF RURAL POSTING IS MISUSED BY THE MANAGEMENT TO ISOLATE NON FLATTERERS .
EVEN POLICY OF POSTING OUTSIDE STATE AFTER PROMOTION IS MISUSED TO FAVOUR THE PEOPLE OF WEST BENGAL OR THAT OF MAHARASHTRA.
POLICY OF NORTH EAST POSTING IS USED TO ISOLATE NON FLATTERERS. POLICY OF TRANSFER FOR NON PERFORMERS IS ALSO USED BY THE EXECUTIVE TO KEEP NON FLATTERES AWAY.
NOWHERE AND NONE OF POLICIES ARE USED TO PROMOTE THE CULTURE OF PERFORMANCE.
AS SUCH IT IS COMPARATIVELY BENEFICIAL TO ELIMINATE THE ELEMENTS OF DISCRETION OR DISCRIMINATION IN THE INTERNAL PROMOTION PROCESS AND TRANSFER POLICY.THE MORE TRANSPARENT WILL BE THE POLICIES , THE LESS WILL BE QUANTUM OF FLATTERY IN THE MIND OF WORKING OFFICERS.
EXECUTIVES WHO ARE INDULGED IN CORRUPT PRACTICES WHILE RELEASING ORDER OF TRANSFER OF PUTTING THEIR SIGNATURE ON PROMOTION ORDERS MUST BE SUITABLY PUNISHED SO THAT RECURRENCE OF SUCH MALPRACTICE DO NOT TAKE PLACE.
JUSTICE DELAYED IS JUSTICE DENIED. YOU CANNOT IGNORE THE RESENTMENT, FRUSTRATION AND DEPRESSION PREVAILING IN THE FIELD LEVEL FOR LONG WITHOUT INVITING STRIKE AND LARGE SCALE REVOLT AND RAMPAGE
Danendra Jain
Agartala
Most of MLS, MP and Ministers have accumulated properties worth many crores of rupees. Department of vigilance or CBI or Anti corruption cell or Economic offenders cell are silent spectators.
So many IAS and IPS officers have been found indulged in corrupt practices only because they have got the blessings of their mentor Ministers.
So many bank officers and executives have properties worth crores of rupees, which is far more than their total earning in their entire tenure. It is possible only because there is practically none to look into corrupt practices prevailing in the bank at higher level.
When Head of any department or office is corrupt, or when any minister in the government is corrupt it will be foolish to imagine of healthy culture down the line.
It is very difficult to survive with dignity when the boss is corrupt and when boss likes flattery.
Only when boss loves real performance, employees feel delighted in working sincerely.
When real performers are awarded, there will be positive motivation. On the contrary if corrupt is promoted and given good posting, it is but natural that people will be tempted to toe the line of boss even if it is wrong and unethical and against the interest of the organization
As long as we are unable to provide a reasoning based transfer and merit based promotion and as long as the wrong doers are not punished by either head of the department or by the courts we cannot imagine of stopping corrupt practices prevailing in the system and spreading like cancer in the society.
Old proverb survival for the fittest no more holds good. Now a days survival is possible only for the person who is well versed in flattery to bosses, who can earn money through ill methods and share the same with his bosses.
The bitter truth is that there is no foolproof method of providing perfectly merit-based promotion or seniority based promotion in any office. None of the promotion processes can ensure justice to all, justice to the organization and discomfort to none as long as the person responsible for carrying out the promotion process is dishonest and corrupt. When protectors become destructors, damage to society cannot be stopped,
One easy way to stop whimsical transfer and arbitrary promotion is to maintain transparency and abolish the requirement of passing through Interview for existing employees for getting promotion. Interview is such a test where Interviewers can easily spoil the candidates career.
During interview, key role is played by elements like bribe, gift, sources, godfathers, and flattery possessed by employee whose performance is assessed during interview. When Interviewer desires to promote an employee he raises easy questions or do not raise any question and give higher marks and on the contrary he may raises toughest and irrelevant questions before the candidate to reject him in the promotion process.
The interviewer as per his whims and fancies gives marks for interview and unfortunately there is no method to penalize such malicious interviewers or the interview team made of birds of the same feather. There is hardly any place for merit in the mind of Interview panel and this why whimsical promotions take place and a reign of injustice and that of corruption spreads like epidemic and is followed by inefficiency, frustration, depression and what not.
Last but not the least; our courts cannot deliver justice in decades. This eliminates the fear from the minds of interviewer and the aggrieved employee is constrained to bear with the rejection in promotion process. Justice delayed is justice denied. And when there is no hope of justice even from court, aggrieved person in promotion process is left with no alternative other than digesting the poison of injustice.
It is an open secret in our society that victim is afraid of lodging complain in police department against any type of criminal. Not to speak of promotions, management can torture an employee by using his power of transfer and posting an employee in the name of exigencies as per his sweet will.
I therefore request you to take immediate steps to ensure merit based transparent promotion and reasoning based transfers and posting in all offices. Only one remedy to cure disease of corruption is to award honest performers and sideline corrupt performers. Only the bearer knows where the shoe pinches is a right proverb in this regard.
IN BANKING INDUSTRY THERE ARE HUNDREDS OF OFFICERS WHO ARE FACING TRANSFER EVEN TWICE OR THRICE A YEAR WHEREAS OFFICERS SITTING IN METROS ARE SITTING IN ONE TOWN SINCE JOINING SAY FOR TWO OR THREE DECADES.
EVEN POLICY OF RURAL POSTING IS MISUSED BY THE MANAGEMENT TO ISOLATE NON FLATTERERS .
EVEN POLICY OF POSTING OUTSIDE STATE AFTER PROMOTION IS MISUSED TO FAVOUR THE PEOPLE OF WEST BENGAL OR THAT OF MAHARASHTRA.
POLICY OF NORTH EAST POSTING IS USED TO ISOLATE NON FLATTERERS. POLICY OF TRANSFER FOR NON PERFORMERS IS ALSO USED BY THE EXECUTIVE TO KEEP NON FLATTERES AWAY.
NOWHERE AND NONE OF POLICIES ARE USED TO PROMOTE THE CULTURE OF PERFORMANCE.
AS SUCH IT IS COMPARATIVELY BENEFICIAL TO ELIMINATE THE ELEMENTS OF DISCRETION OR DISCRIMINATION IN THE INTERNAL PROMOTION PROCESS AND TRANSFER POLICY.THE MORE TRANSPARENT WILL BE THE POLICIES , THE LESS WILL BE QUANTUM OF FLATTERY IN THE MIND OF WORKING OFFICERS.
EXECUTIVES WHO ARE INDULGED IN CORRUPT PRACTICES WHILE RELEASING ORDER OF TRANSFER OF PUTTING THEIR SIGNATURE ON PROMOTION ORDERS MUST BE SUITABLY PUNISHED SO THAT RECURRENCE OF SUCH MALPRACTICE DO NOT TAKE PLACE.
JUSTICE DELAYED IS JUSTICE DENIED. YOU CANNOT IGNORE THE RESENTMENT, FRUSTRATION AND DEPRESSION PREVAILING IN THE FIELD LEVEL FOR LONG WITHOUT INVITING STRIKE AND LARGE SCALE REVOLT AND RAMPAGE
Danendra Jain
Agartala
Saturday, January 02, 2010
Bank Unions should look into
• Why officers and employees are not transferred out from the Mumbai, Kolkata, Delhi, Bangalore, Chennai etc. and on the contrary employees of states like Orrisa, Bihar, and Jharkhand are frequently transferred out of their states even violating transfer policies?
• Why some officers are always given rural posting whereas some other officers are even promoted without rural posting violating government guidelines in this regard?
• Why some officers are allowed to work in their Metro towns for decades whereas officers of other small towns and villages are to change their place of working every year or alternate year without any incentive or compensation?
• Is there no punishment for those executives who indulge in corrupt practices and resort to whimsical transfers to keep away all employees who may prove hurdle in their money making process?
• Why RBI remains silent spectator of ill-motivated CEOs of banks and allows the malady in banks to accumulate?
• It is worthwhile to mention here that unhappy lot of employees cannot think for and make efforts to keep bank healthy?
• Is human resource not capital in real sense in Banking Industry and for some VIP CEOs of Bank?
• Why some officers are always given rural posting whereas some other officers are even promoted without rural posting violating government guidelines in this regard?
• Why some officers are allowed to work in their Metro towns for decades whereas officers of other small towns and villages are to change their place of working every year or alternate year without any incentive or compensation?
• Is there no punishment for those executives who indulge in corrupt practices and resort to whimsical transfers to keep away all employees who may prove hurdle in their money making process?
• Why RBI remains silent spectator of ill-motivated CEOs of banks and allows the malady in banks to accumulate?
• It is worthwhile to mention here that unhappy lot of employees cannot think for and make efforts to keep bank healthy?
• Is human resource not capital in real sense in Banking Industry and for some VIP CEOs of Bank?
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