Message From A Retired Banker please read

Message From A Retired Banker

Received in Whatsapp.
Dear Friends,
                Greetings
Hereunder, please find a TRUTHFUL picture of the pathetic plight of the Retired Bankers posted on the FaceBook. Please go through and spread it among all groups such that all the Indian Citizens will come to know, understand and sympathize with the plight of Retired Bankers. Word of mouth publicity is very strong.

     HERE IS THE REPORT            Dear friends.

10 lakh Bankers since Nationalization of Banks, i.e. 1969 have contributed enormously for growth of Indian economy. Today's rich and poor benefited by bankers launching Govt. welfare schemes sincerely. Few bank-men  have maligned our image past 15years. Despite that corruption in banks Is less compared to government machinery.There will no one who have not utilized bankers services. Just think how many corrupt bankers you met. You will get the answer.

Friends we became 'ill paid' salaried class today. We the retirees of PSB's who contributed to your growth have 'pathetic pension scheme'. We are duped by IBA and GOI by not sanctioning our legitimate PENSION and Pension Revision at par with Central Government Pension Scheme as agreed while introducing Pension in 1994.

Due to above discrimination by govt., today we the retired bank men are fighting in courts from past 20 years for our rights. We are going to launch agitations at this age. Other Senior Citizens are being granted priceless bonanzas for gaining vote-bank.

I shall give you a shocking example to explain our plight. In my profile picture you see Shri Balakrishna Iyer, an intelligent and honest Top Executive of his days, retired in 1994 as Managing Director of State Bank of Hyderabad. He draws pension around Rs.20,000/- . I having retired after serving SBH for 40 years and draw around Rs.30,000/-.

I retired from GHMC br., Hyd. We used to disburse pensions to all Ghmc retirees. A newly retired ' street sweeper' used to get Ra.20000/- plus as her/his pension. Senior retirees pension was between Rs.30,000/- to Rs.40,000/-.

Above example shows you all m, where we bankers stand as pensioners. Is street sweeper services bigger and important than my retired Managing Director? Or my services having slogged for 7 hours on regular days and 10 hours while doing government thrusted schemes launching?

Friends our Pension fund lying with banks cumulative figure is more than 2 lac Crores. This statistics GOI and IBA has on record. The income from this fund is surplus to pay bankers pension giving due revisions periodically, as it happens with Central Govt. Pensioners.

Unfortunately, the corrupt apex serving employees union leaders joining hands with IBA are not representing our cause nor allowing Retiree unions to negotiate with IBA. They are unable to clinch reasonable wage revision to serving employees. They proved their incapability to do justice to their members, what they can do to US?  the retirees. We shall fight for our cause from now on our own leaving Serving Union leaders.

This elaborate explanation of our plight is given to explain to the PUBLIC our pathetic situation. My Super senior retirees (75 yrs above) and senior retirees are not able to meet their basic needs with pension they draw. Medical facilities by banks to retirees is zero. We could get group insurance policy at a very high premium. Please ponder over our grievances and spread the message within your circles. We need everybody's support to raise our issues with GOI.

Thanking  you

Rohini Rao
(Retd Officer)

    Forwarded as received
          from one of my               friends.

I repost here the phone number all office bearer of AIBEA asked them directly about 11th bipartite

All are requested to keep your eyes open-ALL WORKING OR RETIRED BANK EMPLOYEES WILL HAVE TO FIGHT FOR THE COMMON CAUSE , PENSION

Posted as received
FOR ALL BANKERS WORKING OR RETIRED NORMAL OR VRS OPTEES , SBI OR OTHER ALL NATIONALISED BANKS OR LIC OR GIC'S OR PRIVATE OR ANY OTHER REGIONAL BANK.
ALL WORKING STAFF SHOULD ALSO GO ON STRIKE/MASS CASUAL LEAVE /DHARNA ETC. AND IT IS ALSO BEING HEARD IF THE RETIREES PENSIONERS PENSION IS NOT BEING TAKEN FOR UPDATATION, SOME UNIONS WILL TAKE STAY ON 11BPS FROM THE COURT NOT TO DO SETTLEMENT TILL PENSION IS NOT BEING UPDATED AND UNIONS SHOULD DEMAND FOR FRESS PENSION OPTION FOR WORKING STAFF ALSO.
( LIKE THE RBI WORKING STAFF IS GOING ON MASS CASUAL LEAVE (POSTPONED FOR TWO MONTHS) FOR 4TH -5TH SEPTEMBER 2018 FOR RBI RETIRED STAFF PENSIONERS SUPPORT CAUSE).
OUR 11TH BPS IS TO BE NEGOTIATED BETWEEN THE IBA AND OUR UNIONS.
DUTIES OF ALL OF WE BANKERS IS TO FIGHT COMMANLY ON ALL MATTERS. IF WE MISSED THE CHANCE IN 11TH BPS, THE CHANCE WILL COME RARELY IN OUR LIFE SPAN, IF THE SETTLEMENT FOR RETIRED BANK PENSIONERS NOT BECAME EFFECTIVELY GOOD, WE ALL WORKING EMPLOYEES ALSO HAVE TO COME IN THE SAME SCENARIO THAT IS WE ALL HAVE TO RETIRE AND HENCE TAKE CARE TO SURVIVE IN THE FUTURE.
ALL WORKING OR RETIRED BANK EMPLOYEES WILL HAVE TO FIGHT FOR THE COMMON CAUSE , PENSION THE ULTIMATE SURVIVAL FOR ALL, IF MISSED WILL NOT SUN RISE IN THE LIFE OF RETIREES AGAIN.
YOU MIGHT BE BELONGING FROM ANY OF THE BANK ,
UNITE UNITE AND UNITE, MAKE YOUR UNIONS UNDERSTAND THAT IF THE PENSIONERS OF CENTER OR THE STATE OR DEFENCE , THEIR PENSION IS REVISED , WHY NOT OF THE BANKERS WHO HAVE CONTRIBUTIONS IN MAKING THE NATION STRONG.
ALL RETIREES ARE WELL EXPERIENCED , ALL WORKING EMPLOYEES ARE ALSO EXPERIENCED, WE ALWAYS HAVE TO FIGHT , CUT OUR WAGES ALSO BY DOING STRIKES, WHERE AS THE OTHER'S HAVE NOT TO DO SO.
AVOID YOUR MIND FROM ALL OTHER TYPES OF POSTS, SHARING, CONCENTRATE ON YOUR MAIN ISSUE MAKE ALL OUT EFFORTS THAT YOU CAN,GIVE SUGGESTIONS AND DO GO AHEAD EARNESTLY .WELCOME TO ALL AND KINDLY NOT ONLY LIKES, BUT CONTRIBUTE YOUR VALUABLE COMMENTS AND SEEK GUIDANCE FROM YOUR ELDERS AND SHARE SO THAT BECOME THE VOICE OF THE BANKERS.
BANKERS UNITY JINDABAD.

1.All are requested to keep your eyes open.
2. Make comments where you think. Do not hesitate.
3. Do not depend on others, if you can do something for your demands to be accepted.
4. Give suggestions open heartedly.
5. Try to make your union strong.
6. Don't depend on any one.
Make your own strong union
Invite others friends who have not yet joined anywhere to join the union in which you desire but be member to make the union strong.
7.Give suggestions to all retirees banks unions and working unions to be united at one comman platform.
8. All are requested to share mobile no. so that your known can call you at some time of union call or at the time of need.
9. ALL OF US CAN COPY IT IF LIKED BY YOU AND SHOULD BE SENT TO YOUR KNOWN BANKER FRIENDS WORKING OR RETIREES ON THEIR WHAT'S APP, MESSANGER AND CAN BE SHARED ON YOUR FACEBOOK WALL TILL OUR DEMAND IS BEING ACCEPTED WHICH IS OUR LEGITIMATE DEMAND FOR WHICH WE ALL ARE TAKING AN OATH THAT WE WILL NOT SIT UNTIL OUR DEMANDS ARE NOT FULLY ACCEPTED. 

RBI bars Bandhan Bank from opening branches

The RBI on Friday pulled up Bandhan Bank for its failure to bring down the promoter holding to 40 per cent, as mandated in the licensing norms for universal banks. The promoter holding in the bank at present is 82.28 per cent.

 

The central bank also barred the bank from opening new branches and put a freeze on the remuneration of Bandhan Bank MD and CEO Chandra Shekhar Ghosh.

In a stock market communication on Friday, Bandhan Bank said: “RBI has communicated to us that since the bank was not able to bring down the shareholding of Non-Operative Financial Holding Company to 40 per cent...general permission to open new branches stands withdrawn. The bank can open branches with the prior approval of the RBI. The remuneration of the MD & CEO stands frozen at the existing level till further notice.”

Ghosh declined to comment on the development.

Taking steps, says bank

However, the release said the bank is “taking necessary steps” to comply with the licensing condition and “shall continue to engage with RBI” in this regard.

As per licensing norms, the promoter holding should be brought down to 40 per cent within three years of starting operations.

Bandhan graduated from a microfinance institution to a bank in August 2015. So, ideally, it should have scaled down the promoter’s holding by August 2018.

It went for the IPO in March this year, when the promoter’s stake was reduced from 89.62 per cent to the current level.

During the third anniversary celebrations last month, Ghosh reiterated that the bank was in “constant discussions” with the RBI regarding the shareholding norms. According to information available on the Bandhan website, it has 937 branches and 2,764 doorstep service centres. As on June 30, its capital adequacy ratio stood at 32.61 per cent.

“It may be difficult for Bandhan to bring down its promoter holding to 40 per cent overnight, as their valuations are pretty high. So they may require some extension in timeline to be able to comply,” said a banking analyst on conditions of anonymity.

The bank’s scrip closed at ₹564, down 0.96 per cent, on the BSE on Friday.

Expected DA for BANKER from November 2018 will be 68 to 70 slab

Expected DA Calculator upated on 28.09.2018, on release of CPI for the month of Aug'18 as 6870.59

On the basis of above CPI release at this stage we are providing calculations of expected DA on the following three assumption :-

1. On assumptions that CPI would remain at least same as of Aug'18 for the next month i.e. for Sep'18. In this situation on the basis of CPI of July'18 and Aug'18 declared the expected (tentatively) increase in DA Slabs would come to 67 slabs.(on this assumption the total tentatively revised DA slabs would be 608 i.e. 60.80%)
2. On assumptions that there would be an increase of one point in CPI data in next month of Sep'18. In this situation the expected (tentatively) increase in DA Slabs would come to 69 slabs. On this assumption the total tentatively revised DA slabs would be 610 i.e. 61.00%)
3. Keeping in view the recent fuel price hike we assume that if there may be an increase of two points in Sep'18 month CPI data. In this situation the expected (tentatively) increase in DA Slabs would come to 70 slabs. On this assumption the total tentatively revised DA slabs would be 611 i.e. 61.10%)
The Expected DA Calculator is updated on the basis of above assumtions. This website do not claim that its calculation of expected DA slabs would may become payable as full and final.

2 DAYS CONTINOUS STRIKE ON 8TH & 9TH JANUARY, 2019 ---AIBEA

MARCH ON TO 2 DAYS CONTINOUS STRIKE ON 8TH & 9TH JANUARY, 2019
The Central Trade Unions, independent federations and associations carried forward
the decisions adopted in the National Convention of Workers on 8th August, 2017 at
Talkatora Stadium. The successful holding of three day mahapadav on 9th–10th–11th
November, 2017 after about more than three months extensive countrywide campaign
was a landmark in the ongoing struggle to fight back the onslaught of the government
against working people and their trade unions, against hard won labour rights, anti labour and pro-employer  codifications and violations of existing labour laws and
violation of ILO Conventions

BIPARTITE UPDATE AS ON 29.09.2018

In today's meeting with IBA we demanded increase from their earlier offer of 6% but iba proposed Performance related addl bankwise increase based on operating profit and ROA. UFBU did not agree and reiterated our demand. Further talks will continue in the next round. On merger issue UFBU to hold demonstrations on 9th oct in all state capitals and towns. UFBU will meet on 14th oct to decide further. Circular follows. AIBOA Secretariat.
All four Officers' organisations have made it very clear that unless the mandate issue is resolved the talks cannot progress. This issue will be discussed in the UFBU meeting.

In today's meeting with IBA we demanded increase in earlier offer of 6% but IBA proposed Performance related addl bankwise increase based on operating profit and ROA. UFBU did not agree and reiterated our demand. Further talks will continue in the next round.

Is the Government Actually Saving Jobs with merger of psu bank?

he government recently decided to merge three public sector banks, Bank of Baroda, Dena Bank and Vijaya Bank.

Of the three banks, Dena Bank with a bad loans rate of over 22% was clearly in a mess. A loan which isn't repaid for 90 days or more is categorised as a bad loan. Left on its own, the bank would have to clearly wind down business and jobs would have been lost.

Along similar lines, many public-sector enterprises, which keep losing money year on year, continue to operate by borrowing more and more money from banks. Banks lend money to these companies because they are government owned. In this way, the total liabilities of the government are built up.

Then there are many other companies which have very low rates of capital employed. Even such companies continue to operate.

Of course, with the government bailing out or continuing to operate companies and banks it shouldn't, lots of people continue to be employed in jobs they would have otherwise lost by now. But is the government actually saving jobs on the whole?

The answer to this question is slightly complicated. Before I answer this, let's try and understand the concept of the fallacy of composition. As Thomas Sowell writes in Basic Economics-A Common Sense Guide to the Economy: "When thinking about the national economy, a special challenge will be to avoid what philosophers call "the fallacy of composition"-the mistaken assumption that what applies to a part applies automatically to the whole."

Let's first understand the fallacy of composition in simple English. As Sowell writes: "The fallacy of composition is not peculiar to economics. In a sports stadium, any given individual can see the game better by standing up but, if everybody stands up, everybody will not see better."

Anyone who has watched cricket in a stadium would have faced this problem. When crowds are excited they tend to get up from their seats, forcing those who are seated behind them to get up as well. On the whole, watching something seated is a more enjoyable experience than watching it standing up.

Sowell further writes: "In a burning building, any given individual can get out faster by running than by walking. But, if everybody runs, the stampede is likely to create bottlenecks at doors, preventing escapes by people struggling against one another to get out, causing some of these people to lose their lives needlessly in the fire."

This is why fire drills are so important, so that people know exactly how to leave a building during an emergency, in an orderly way.

Now how does it apply to the issue at hand. When the government rescues unviable firms or banks, or simply lets them operate, even the return on capital employed is very low, it thinks it is saving jobs. Yes, it is saving those jobs, but is it saving jobs on the whole is a question worth asking?

It is worth remembering that the government isn't simply responsible for only those companies, it is responsible for the economy as a whole.

As Sowell writes: "Any given firm or industry can always be rescued by a sufficiently large government intervention, whether in the form of subsidies, purchases of the firm's or industry's products by government agencies, or by other such means. The interaction that is ignored by those advocating such policies is that everything the government spends is taken from somebody else. The 10,000 jobs saved in the widget industry may be at the expense of 15,000 jobs lost elsewhere in the economy by the government's taxing away the resources needed to keep those other people employed. The fallacy is not in believing that jobs can be saved in given industries or given sectors of the economy. The fallacy is in believing that these are net savings of jobs for the economy has a whole."

What does this mean? It means that a government does not have unlimited amount of money. When it spends money on something, it is not spending a money on something else.

When the government spends money on rescuing a company or keeping it going, it does not spend that money on anything else. Further, even when the government does not spend money on many companies which barely have any return on capital employed, its capital remains locked up. This capital could easily have been used in other areas.

Every rupee that goes towards saving Air India could have gone towards education, health, agriculture etc. It could have meant creation of jobs in those sectors, even though jobs in Air India would have been lost. Every rupee that goes towards rescuing Dena Bank (Rs 5,219 crore in total, for a very small bank) is being paid for by you and I, in the form of higher petrol and diesel prices.

We could have easily spent this money somewhere else helping businesses do better than they currently are, and this would have created more jobs in the process. Or we could have saved this money and that would have brought down interest rates.

The capital that the government has locked up in public sector enterprises which barely make any money, could have been unlocked and used to create better roads, railways etc., and in the process more jobs could have been created.

Of course, these are jobs which could have been created. And politicians are not bothered about jobs that could have been created. They are more bothered about jobs that are currently there and the nuisance value of the people who are employed in those jobs.

The larger point here being that there is no free lunch in economics. Every time more money is spent on a public-sector enterprise to keep it going, thousands of youth across the country, lose jobs, that they could perhaps have got. Of course, the tragedy is they don't even know about it, simply because no one thinks about jobs in this way.

GOVT. HAS ASKED IBA TO SETTLE 11TH BP WITH 12% PAY HIKE

Finance Ministry has directed IBA to complete the 11th Bipartite Settlement

It is believed that Finance Ministry has asked IBA Negotiating committee to settle the wage deals for 11th Bipartite with banker's soon.

Finance Ministry in view that wage-settlement negotiations may have to be wrapped up before the Model Code of Conduct for the general elections kicks-in.

This communication has been sent to IBA as the general elections only seven-eight months away and the proposed three-way merger between Bank of Baroda, Vijaya Bank and Dena Bank.

Finance Ministry believes that the post settlement of 11th Bipartite, it may necessitate an offer of golden handshake for employees of Bank of Baroda, Dena Bank and Vijaya Bank. There may be good number of voluntary retirement in these banks, which will ease the work of Amalgamation.

In this regard, the Finance Ministry has already spoken to the Indian Banks’ Association’s wage negotiation committee to hasten the 11th industry-wide wage settlement.IBA has already discussed with Banker's Union for more than 10 times on salary settlement post 10th industry-wide wage settlement, which ended on October 31, 2017.

It is believed that the negotiations to be concluded before December 31, 2018.

A writ perition in the High Court Bench, Madurai.for minimum salary of bank officer must be equal to group A central govt employee

Message received in WhatsApp:

Mr.S.Dhanasekar, an Officer from Madurai has filed a writ perition in the High Court Bench, Madurai.

His prayer

*To issue a writ or order or direction in the nature of Writ directing the IBA to implement the minimum starting pay of Group “ A “ officers in Govt. Service as the minimum starting pay for J.M.G- Scale 1 in banks by taking into account the Union Cabinet Decisions notified vide their letter No.19/4/2017 – Welfare, Government Of India, Ministry of Finance, Department of Financial Services dt.6-12-2017 and pass such other order or orders as this Hon’ble Court may deem fit and proper in the circumstances of the case and thus render Justice.*

Grounds for his prayer

1. Indian Banks Association (IBA) being an organ of State has to ensure Equality before the Law by accepting the 7th C.P.C. recommendation formula as the basis for pay revision for Bank Officer’s and to fix the minimum scale corresponding to the equivalent cadre as per the 7th C.P.C., as is being done in the case of other instrumentalities of State including in the U.G.C.,

2. The decision of Union Cabinet is conclusive and is unequivocally binding upon the IBA. When the Union Cabinet has equated the pay status of J.M.G.-1 with that of the Group “A” officers in Government service, IBA ought to have implemented the starting minimum pay of Group “A” officers in Government Service as the minimum pay for JMG- Scale -1.

3. IBA, by not implementing the Union Cabinet decisions and in their defiance is unilaterally acting as a body superior to that of the Union Cabinet itself and therefore any decision contrary to the Union Cabinet notification by not equating the starting pay of J.M.G.-Scale I with that of Group “A” officers in Government service is against natural justice besides unconstitutional.

4. IBA, by not equating J.M.G.-Scale -1 with that of the Group “A” officers in Government service, cannot and ought not to act in derogation of the income equivalence declared and notified by the Union Cabinet. IBA ought not to abrogate and impinge the Union Cabinet’s decision on equivalence of income notified by classifying the posts. Any decision of the IBA not in conformity with the classification notified by Union Cabinet’s is arbitrary, illegal and un-constitutional.

5. The officers of the Banking industry that starts from the cadre of JMG scale -1 and above and belonging to OBC will be permanently deprived of their statutory benefits as the IBA is not placing the OBC on par with Group “A” officers of the Government in the matter of fixing their minimum scale of pay as notified by the Union Government, which is unconstitutional.

6. More so, the Group ‘A” Govt officers’ are getting their increments uninterruptedly. Whereas in case of the bank officers the increments are linked to promotions which would otherwise reach stagnation in view of non-promotion. Further, the promotions are not in the hands of the individual bank officers and it purely depends upon the Individual Banks performance and presence of the branches which also would vary bank to bank. Therefore, IBA’s action of non-fixation of J.M.G.-1 minimum scale as equivalent to Group “A” for OBC would cause permanent inequality as it violates Union Government’s Notification.

7. In any event, IBA is statutorily duty bound to keep the pay relativity in conformity with the Union Cabinet decisions by linking the starting minimum pay of J-M.G.-1 in banks with that of the starting minimum pay fixed by 7th C.P.C. for Group “A” officers in Govt. Service and ought not to impose their arbitrary load factor.

Case was admitted as *WP No.19947/2018* and was heard today by Hon'ble Thiru. Justice S.Vaidyanathan .

It is really heartening to know that the case was admitted by the Hon’ble Judge as prima facie there is justification in the demand of the petitioner in asking the salary of the officer in JMG Scale I equal to Grade “A” officer salary in Government of India,

1. On the lines of ILOs resolution of Minimum Wages
2. Minimum wages formula followed by 7th CPC
3. On the lines of Code on Wages Bill proposed by Govt. of India
4. Charter of Demands submitted by Four officer organisations

The respondents were Govt. of India, IBA and AIBOC besides others.

The Central Government counsel accepted the notice in the court hall itself and notice to other respondents were sent by the court.

Next Hearing Date is fixed at *16.11.2018*.

This writ has come as a boon to the officer organisations, more particularly AIBOC which demanded the wage revision for the officers matching to Grade “A” officers on the minimum wages concept, to join in the issue alongwtih the petitioner so as to get decent wage revision to the Bank Officers.

We also congratulate S.Dhanasekar who filed this thoughtful writ in the interest of the Officers’ community working in the Banking Sector.

Government May Implement 'VRS' Scheme For the Employees of BOB, Dena & Vijaya Bank after 11th Bipartite Settlement

Government of India, Ministry of Finance believes that the proposed three-way merger between Bank of Baroda, Vijaya Bank and Dena Bank may necessitate an offer of 'Golden Handshake' for employees. It means government is expecting to settle down the wage revision of Banker's as per 11th Bipartite earlier for the smooth transition of merging process.

Ministry of Finance is expecting that there will naturally be good numbers of VRS applications from the employees of these three banks after the 11th Bipartite negotiation and this is the reason why did ministry ask IBA to speed up the process of wage negotiation ?

Further, 11th bipartite negotiations may gather steam as the merger between the three public sector banks could see massive branch rationalisation in Gujarat, which has been a favourite hunting ground for both Bank of Baroda and Dena Bank to grow business, resulting in surplus manpower. 

So, to make any voluntary retirement scheme (VRS) attractive, it will need to be based on revised salaries. 

In Gujarat, Bank of Baroda (BoB) has 1,000-odd branches, while Dena Bank has 650-odd branches. BoB and Dena Bank have about 18 per cent and 35 per cent of their total branch network in the Western State.

S Nagarajan, General Secretary, All India Bank Officers’ Association said that " In the backdrop of the State and general elections, we expect the negotiations to be concluded before December 31, 2018."

Finance Ministry Has Directed IBA To Complete the 11th Bipartite Wage Revision before 31.12.2018

It is believed that Finance Ministry has asked IBA Negotiating committee to settle the wage deals for 11th Bipartite with banker's soon.

Finance Ministry in view that wage-settlement negotiations may have to be wrapped up before the Model Code of Conduct for the general elections kicks-in.  

 

This communication has been sent to IBA as the general elections only seven-eight months away and the proposed three-way merger between Bank of Baroda, Vijaya Bank and Dena Bank.

Finance Ministry believes that the post settlement of 11th Bipartite, it may necessitate an offer of golden handshake for employees of Bank of Baroda, Dena Bank and Vijaya Bank. There may be good number of voluntary retirement in these banks, which will ease the work of Amalgamation. 

In this regard, the Finance Ministry has already spoken to the Indian Banks’ Association’s wage negotiation committee to hasten the 11th industry-wide wage settlement.

IBA has already discussed with Banker's Union for more than 10 times on salary settlement post 10th industry-wide wage settlement, which ended on October 31, 2017. 

It is believed that the negotiations to be concluded before December 31, 2018

Merger is Evil...We should not allow at any cost...

Systematic Destruction of our Public Sector actually started after 2008 not by the US Sub-Prime Crisis but through the Brutal plan of Global Elites through World Bank, IMF and Bank for International Settlements (BIS). To be short, World Bank and IMF are our Creditors whereas BIS is the Central bank for all Central banks in the world including Reserve Bank of India. No central bank of any nation can function freely out of control of BIS.

All the 3 bodies are instituted by Global Elites to Indebt and enslave the entire world. Hence their plans are Cruel, long term but nobody can understand and sense.

Today’s banking reforms are not planned one or two years ago. It was planned some 10 years ago and the Subprime crisis of 2008 was utilized to implement the “Project Death” in India.

Since 2009 PSBs are facing continuous threats to their Existence……most importantly…

1. Prudential Guidelines and Basel II norms 2009

2. Kandelwal Committee on HR reforms 2010

3. Cheque Truncation System & Uniform Holidays 2012

4. Appointment of Raguram Rajan as RBI Governor

5. Appointment of Aravind Subramanian as Chief Economic Adviser of India

6. PJ Nayak Committee

7. Prime Minister Jandan Yojana

8. Gyan Sangam I and II

9. Appointment of Private MDs and Chairmen for PSBs

10. Bank Board Bureau

11. IDBI Privatization

12. Cleaning of Balance sheets

13. Prompt Corrective Action Plan

14. Committee for Campus recruits to PSBs

15. PSB Mergers and subsequent privatization

16. Nachiket Mor Commitee

17. Payment banks & Small Banks

18. AADHAAR Bill

19. Unique Payment Interface

20. AADHAAR Seeding

21. XXXXXXXXXXXX

22. XXXXXXXXXXXX

Comrades, don’t you feel why this many reforms are being introduced one after another in Banking Industry without any pause?

Don’t you realize the force behind this?

The good news as of today is AIBOC leaders are meeting RBI Governor Mr.Raghuram Rajan on 10.06.2105. Almost 99% of nationals know him as RBI Governor only. Some demand second term for Mr.Raghuram Rajan. The probable next RBI Governor is Mr.Arvind Subramaniam if Raghuram rajan wont get second term. Mr. Arvind Subramaniam is presently Chief Economic Financial Adviser for GoI.

But many of us don’t know the other faces of both the persons.

Mr. RaghuRam Rajan:
--------------------------------

He is the only Indian Vice Chairman of The Bank for International Settlements (BIS) since its institution in 1930.

He was the Chairman of the ‘High Level Committee on Financial Sector Reforms’ set up by Planning Commission of India in 2007 when he was Professor, Graduate School of Business, University of Chicago and associated with IMF. He submitted the reported in 2009 in the name of “A 100 SMALL STEPS”. You all will be shocked if you read the report. Because, all the threats listed above were designed and recommended by him only. Some of the recommendations I have listed here.

Proposal 3: Small banks & Finance Banks

Proposal 5: Priority Sector Lending Certificates

Proposal 7: Sell underperforming PSBs; Reduce Govt Ownership below 50%

Proposal 8: Stronger boards with more power to outside Shareholders

Proposal 9 : Delink PSBs from CVC, CAG, CBI and Parliament; Reduce Govt Ownership below 50%

Proposal 10 : Allow Foreign banks subsidiaries to Takeover Indian Banks; More liberal in Mergers and Takeovers

Proposal 11: Branches and ATM expansion by Domestic banks & subsequent Takeover by Foreign banks

Proposal 29 : Unique Id with Biometric Identification to Track Borrowers and Seize their wealth

Proposal 34 : Foreign Asset Reconstruction Companies

Proposal 35: Bankruptcy code which neither protect Debtor nor the Creditor’s right to seize assets

All the above said proposals have got implemented….Still many dangerous proposals are in pipeline…To know them please read the complete report (I have attached it)….Very Dangerous recommendations aimed at “Tracking each and every movement of an Individual of this nation and to seize/transfer their assets with the help of AADHAAR, CIBIL, CERSAI etc.. ”.

Comrades, appointment of Raghu Ram Rajan and Arvind Subramanaiam did not just happen as a normal process. They were sent from WB/IMF with a plan which is not disclosed to many.

This is the possible plan….

Govt of India borrowed $ 2 Billion from World Bank (IBRD) in 2009 just after 2008 Sub-prime Crisis. The World Bank made our RBI as the implementing agency to implement the conditions of the Loan agreement. 

SOME CONDITIONS TO AVAIL THE LOAN
----------------------------------------------------------

1. The Government of India has executed Statements of Intent with each of its PSBs.


a. Kandhelwal committee on HR reforms set up in which Chapter 8.2 deals with ‘Statement of Intent(SOI)’ for CMDs and EDs. The present INDRADANUSH is just a improvised SOI. MDs and Chairman will receive incentives based on reaching the target agreed under SOI.

2. RBI to implement BASEL Committee recommendations


a. Basel norms were made mandatory for all Commercial banks

b. IRAC norms introduced


3. The Government of India, in coordination with RBI, has ensured that elections of directors to PSBs were in compliance with the RBI’s “fit and proper” criteria.


a. The Fit & Proper Criteria concept introduced in 2004 to select Heads of Private banks was extended to Nationalised banks and SBI in 2007



b. Private MDs and Chairman were appointed in 2015 

4. Road Map to Foreign Banks, 2005 should get implemented in Two-Track mode


Track 1: Consolidation of the domestic banking system, both in private and public sectors


Track 2: Gradual enhancement of the presence of foreign banks in a synchronized manner



5. Implementation of report of the Committee on Financial Sector Assessment (CFSA) prepared as per the instructions of IMF.

a. 6 volumes

b. Recommended Privatization, Merger, Foreign Banks, Private campus recruitment

c. Prompt Corrective Action Plan



Still many conditions…..mostly covers the 2009 report of 
Raghu Ram Rajan

On Sep 2013 Mr. Raghuram Rajan was appointed as RBI Governor.



Rajan, Nachiket Mor Committee & Payment Banks
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Same month he appointed a committee under Nachiket Mor, a RBI Director to quicken the process of implementing the orders of World Bank/IMF. Nachiket Mor Committee recommended two new banks 1. Small banks, 2. Payment banks. But the truth is Rajan just used the Deceiving game of appointing committees to cheat the public. No one knows Rajan was the first person who recommended for Small banks and Payment Banks in 2009 itself.


Rajan, BIS & Payment Banks
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In Aug 2015 he granted licenses to 11 Payment banks.


In Nov 2015 he was appointed by the Bank of International Settlements(Central bank to all the Central banks of the world) as its Vice Chairman. Interestingly the Nachiket Mor committee used the BIS report of 2004 and 2012 along with that of 2009 Rajan report to give its recommendations for payment/small banks. So the link between BIS and Rajan is clearly established. More interestingly he is the first Indian to be appointed to the board of BIS, since its establishment in 1930.



Rajan, P J Nayak Committee & Privatization
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Similarly P J Naik Committee was appointed which recommended many anti-bank reforms like BBB, Holding Companies, Freedom from CVC, CAG &CBI, Privatization, Mergers etc…This time also no one knows it was Rajan who recommended these reforms in 2009 itself. All were blaming P J Nayak and Gyan Sangam.



Rajan & Balance Sheet Cleaning
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Prompt Corrective Action Plan (PCA) was introduced in March 2014 which automatically enable Merger, Closure of Banks, stops Recruitment of employees, Branch Expansion etc..



By pressurizing all the banks to clean the balance sheets, he succeeded in making all our PSBs loss making in just 6 months and prompt them to follow the PCA to avoid further penalty.



Rajan & Aravind Subramanaiam
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The plan of appointing Arvind Subramaniam, another IMF man as Govt Adviser is to pressurize the Govt to implement the reforms recommended by RBI committees. If Govt fails to implement, then WB can recall the dues with penalty. 


Interestingly Rajan used the paper “The Next One Billion Consumers” published by Mr. Aravind Subramaniam to submit is 2009 report of Financial Sector Reforms. Rajan’s report and Aravind’s matches in many fronts


Rajan will prepare the ground for reforms. Aravind Subramaniam will advise the Govt to implement them. Since the Govt ideology is the same their jobs are becoming easier.


MERGER & PRIVATIZATION
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Merger will be followed by amendment in Banking Regulation Act to allow voting rights to foreigners. Ordinance may do that.


Foreign banks including World Bank may take over the assets of merged banks. Ex: IDBI


PMJDY, AADHAAR Seeding….What next as per Rajan report & WB conditions?


Comrades, a year back we were pressurized to open 20 crore PMJDY accounts throughout the country.



Recently Govt has directed all the banks to conduct AADHAAR seeding camps to seed AADHAAR number in the bank accounts of all nationals. Now almost every household has a bank account.



AADHAAR `Bill passed by Parliament to enable private contractors to access AADHAAR server.



If INDIA could not repay the dues in time our bank accounts may be freezed in a single click.



In worst case even the assets pledged by the individuals to avail loans can be freezed or seized. The recent direction of Govt to upload the details of Movable assets in CERSAI portal in addition to Immovable assets is the clue.



Comrades, We are running out of time….Our nation came out of slavery through the Freedom Struggle led by Lawyers. Now we bankers have only two options left. ‘Save the Nation’ or ‘Enslave the Nation’. Histories of trade unions will be erased and new one will be written.



The June 10th meeting of AIBOC leaders should be a turning point in the History of our Nation.



Let us decide.....Who is going to write it and How it will be written?



Comradely,



Sivakumar Duraipandy