Pray to God give some knowledge to our Sitaraman

The most incompetent FM now blaming the bankers about loosing touch with consumers but the reality is the FM is out of touch with the common mass of the country. Probably the worst FM the country ever had no comments on the improvement of GDP and other core burning economic issues

Without addressing the real issues just blame on Bankers.Why there is inadequate staff position? Why we have to do non banking activities with out single penny profit?

Why we have to link AADHAR when Adhar agencies are there?

Why we have to insurance when PSU insurance companies are there?

No answer ,just blame game and make us scape goat.

Wah respected madam.We had lot many expectations from you .But we are wrong.........

Latest Bipartite update as 29.02.2020

Bipartite update 29.02.2020

Iba insisted

To defer strike

Ufbu asked assurance on their

Demands..

Resuming afternoon

LATEST UPDATE ON PENSION AND FAMILY PENSION

🙏👏🙏

LATEST UPDATE ON PENSION AND FAMILY PENSION 

  “CBPRO  MEETS  IBA”

It is a red letter day for Bank Pensioners and Retirees when the CBPRO leadership met the Senior IBA Officials and held detailed discussions  at IBA office Mumbai in respect of Bank Pensioners and Retirees long pending issues.  

The wise move by the Apex Bank Retiree Organisations to come together and form a coordinated body named as Coordination of Bank Pensioners’ and Retirees Organisations led to this welcome development of getting an audience with the IBA. 

This facilitated a meaningful dialogue.  This also ensured dignity and self respect to the Senior Citizens of the Banking Industry.  The IBA response throughout the discussion had been one of cordiality, concern and solemn assurances on their intentions and keenness to sort out the issues.

The IBA team was led by Shri K. UnniKrishnan, Deputy Chief Executive accompanied by Shri K. S. Chauhan, Senior Vice President.  

The CBPRO team consisted of Com. A.Ramesh Babu, General Secretary SBI Pensioners’ Federation and Joint Convener CBPRO, Com.K.V.Acharya, President AIBPARC and Joint Convener CBPRO, Com. Ramesh Deshpande, General Secretary RBONC, Com. R.K. Acharya, General Secretary AIRBEA, and Com. M.D. Deshpande, President FORBE.  

The team was also assisted by Com. K.S. Rengarajan of AIBPARC, who had made exhaustive calculations in respect of 100% DA, Improvement in Family Pension and Pension Updation.  

The CBPRO also submitted a representation to the IBA emphasising the need to show great urgency in resolving the issues.  The list of the issues to be discussed was also submitted. 

Shri K. Unnikrishnan, Deputy Chief Executive IBA, in his initial remarks expressed the keenness of IBA to resolve the long pending issues but at the same time also expressed anxiety of IBA about the health of various Banks which has become a hindering factor in meeting our expectations. He informed us that IBA is in the final phase of getting the Actuary’s report as all the data pertaining to the issue of 100% DA Neutralization and Improvement in Family Pension have been received from the Member Banks and already handed over to the Actuary.

Com. A.Ramesh Babu, Joint Convener CBPRO, thanked the IBA for giving the opportunity to CBPRO to discuss the issues and described the event as a satisfying development and hoped that the deliberations would culminate in the resolution of the issues.  He also explained to the IBA about the formation of CBPRO and hoped that this would facilitate meaningful dialogues with Bank Pensioners’ and Retirees Organisations.

During the course of the meeting IBA pointed out about the cost implications and the huge provisions Banks have to make to meet the requirements of AS 15 (Revised) in respect of provisioning.  

However the CBPRO responded elaborately and some of the main observations from our side are mentioned hereunder:

1.  As regards Uniform DA Relief, the Number of the Retirees deprived are less than one third of the total Number of Retirees including SBI and out of that nearly thirty thousand have already crossed the age of 85 and looking at their very advanced age justice should be delivered to them before it is too late.  

2. As regards Family Pension, it is an emotional issue apart from being a humanitarian issue.  The bulk of the Family Pensioners are widows of the Retired Employees and going by the sensitivity involved the IBA should initiate improvement of Family Pension to 30% from the present 15% without any ceiling.

3. Regarding Pension Updation, IBA expressed its reservations to take up the issue immediately. 

We submitted that non updation from 1989 onwards has resulted in great and unimaginable distortions and if not set right the gap between the recent Retirees and old Retirees would further steeply widen. 

We also stated that the Courts have held that Wage Revision and Pension revision are inseparable.

4. Extending Pension entitlements to Resignees is a well settled matter with the Judicial pronouncement by the Highest Court  of the Land and their number being just less than four thousand the IBA should implement the Court order in respect of all eligible Resignees.  

So also in respect of Compulsorily Retired, the Pension eligibility should be given to all Retirees irrespective of the fact that they are award staff or officers. 

Here also we pointed out that there are decided cases where Courts have upheld the right to Pension to the Compulsorily Retired Persons.

5. As regards domiciliary treatment entitlements from the newly introduced Medical Insurance Scheme, the IBA showed us the serious correspondences they have undertaken with the Insurance Company insisting on the Insurance Company to implement the Scheme in its original form without any distortion and assured us that they would ensure the full implementation of the scheme. 

We also pointed out that the Government communication in the year 2012 had asked IBA to come out with a Medical Insurance Scheme both for Serving Employees as well as Retired Employees and never intended the scheme to be different for Serving Employees and Retired Employees.  

The Insurance Company can’t and should not meddle with the provisions of the last wage settlement between the Unions and IBA in respect of the Medical Insurance Scheme.  

We also requested IBA to advise all member Banks to extend the Medical Insurance Scheme to all Ex-Employees and Officers even if those ex-Employees/Officers have undergone extreme penalties in disciplinary proceedings.  

The reason being that Medical treatment is an issue of extreme sympathy and also the persons covered are ready to pay the premium from their own sources and the Insurance Company also wants to cover large number of persons.

6. We also had discussions on leave encashment to Compulsorily Retired persons without any cutoff date and also permitting Retired Employees and Officers to defend those who are unfortunately subjected to charge-sheets even after retirement.

  

Comrades, from the repeated assertions made by the IBA during the course of our discussions, we hope that the extension of 100% DA neutralization and improvement in Family Pension would get top priority by the IBA.  

On Updation also the IBA will take a  favourable view and ensure that the legal and statutory requirements are given due consideration and help in removing the serious erosion that has taken place in the Basic Pension in the case of Past Retirees due to various subsequent wage settlements.  

We had also pointed out that Pension is coming under the Defined Benefit Pension Scheme and also being a close ended scheme the availability of huge corpus should enable the resolutions of the issues without any further burden on the Banks.  

Moreover, since Pension Regulations are statutory Regulations, these Regulations get precedence over all other provisional requirements including provision for NPA.

We are extremely thankful to Shri K. Unnikrishnan, Deputy Chief Executive IBA who sat through for one hour though he was busy with ongoing interviews in IBA.  He set the tone for the meeting in a very positive way.  

The meeting continued for another one hour along with Shri K.S. Chauhan, Senior Vice President, where issues were discussed with further details and he warmly appreciated the homework done by CBPRO in collecting the required informations and arriving at calculations.  

The inputs submitted by us were duly received and appreciated.

Comrades, we have given in a nutshell the important points of discussion.  We hope with this meeting a new era has started for Bank Pensioners and Retirees and formation of CBPRO had been a great effort by the Apex Retiree Organisations who exhibited throughout a spirit of comradeship to achieve the common objective of ensuring justice to the Bank Pensioners and Retirees.  

We once again appeal to all to join the CBPRO and further strengthen the Bank Pensioners and Retirees Movement.

CBPRO is also seeking the support of UFBU to use their good offices with the IBA and help us in achieving the objectives of Retirees Movement.  

CBPRO firmly believes that it is an organisation which strives for the benefit of all Bank Employees and Officers, PAST, PRESENT and FUTURE and with the number growing and vibrance demonstrated we are confident that SUCCESS SHALL BE OURS.

With Warm Greetings,            

                                                     

A.Ramesh Babu                                                                         K.V.Acharya

                                                   Joint Conveners

Mrs Sitaraman you pay us less than a central govt peon salary but your expectations like IAS officer from Banker

You pay us less than central govt employees a govt peon salary is way greater than us ,you shamelessly burden us with all ur yojnas which are nothing but unproductive  ,you dnt provide adequate infrastructure n staff in branch ,the work culture is simply destroyed by u n then u have the audacity to say this shame shame

Now .. Finance ministry don't have excuses  to settle our long pending wage settlement more than two and half years .... so they are spreading  such a rumour in public about PSU banks..

They have forgotten Jan Dhan accounts, APY, PMJJBY, PMSBY, Mudra Yojna, PMEGP, CMEGP, Kisan Pakhwada , KCC, gold Bonds, MSME restructuring...

These scheme run by Finance Ministry through PSU banks only...

Private banks tell people we don't have theses schemes you visit PSU banks... 

Gadha Majduri kare PSU banks and Anda khaye ...

Pathetic situation of retired banker's

Quite stunning….

Recently, one of my old colleagues called on me.His monthly pension is Rs 26000+.(A PSB retiree, of course).

During our friendly exchanges of words, he observed that we wasted our life by serving in the bank.

His wife got retired as a  college professor recently.He had no hesitation in telling  that he got shocked to see her first pension slip showing a monthly pension of Rs 88000+.

We then started comparing the duties , responsibilities and accountabilities of a bank officer and those of a college professor  and sighed, cursed ourselves for the present pathetic state of affairs of retired bank employees across the country.

After destroying the economy sitaram want to destroying BANKING industries

The most incompetent FM now blaming the bankers about loosing touch with consumers but the reality is the FM is out of touch with the common mass of the country. Probably the worst FM the country ever had no comments on the improvement of GDP and other core burning economic issues

Without addressing the real issues just blame on Bankers.Why there is inadequate staff position? Why we have to do non banking activities with out single penny profit?

Why we have to link AADHAR when Adhar agencies are there?

Why we have to insurance when PSU insurance companies are there?

No answer ,just blame game and make us scape goat.

Wah respected madam.We had lot many expectations from you .But we are wrong.........

Either increase the number of staffs in the banks or tell the bankers to do only banking and nothing else such as insurance,crop insurance, old age pensioners validation, aadhaar making, aadhaar updation,mutual fund, apy enrollment, disbursing of public welfare funds and many more other activities.

After destroying the economy... Looking for somebody to be blamed for reckless decisions lacking foresight and ultimately framing poor psb employees. I wonder if she have any idea how Psb employees  are working

Nirmala sitaraman has no idea about present BANKING...we condemn her irresponsible comments

No doubt you can expect such irresponsible comments from a person who doesn't have any idea about Banking system in grassroot, who did not step into any rural branch of a PSB for a single day, who is unaware about daily routine of a common banker. But what is alarming that the pseudo patriotic bankers who are over concerned about bank. They himself try to avoid sanctioning of loans but advise others how advance growth is required for growth of Banks. They always prefer to be posted at admin office but advise others about need of branch banking. They show that sitting late of office is required for work of bank, reality is  to please boss but demands regulated working hour in front of union. They will demand 30 percent salary increase but will withdraw membership in the month of strike or will apply for leave on strike days. They will demand 5 days banking but will enter through backdoor during strike days or holidays. When they are pampered by minority union to increase their membership in lieu of undue advantages , then all efforts of others get backstabbed. Then only IBA and Govt. can do anything and those backstabbers point finger on leadership and tells Union amader jonyo ki korechhe.

Psu bank serving 2000 customers per staff while same for HDFC is 350 .per branch

Our FM says that PSB branch officials have lost personal touch with customers and that is the reason for low credit growth .

To some extent she is speaking truth but question is who is responsible for this .answer is government of India and top management of PSB.

PNB with around 6500 branches and 61000 branch  employees serving 12 cr customers on other hand HDFC bank with around 5200 branches and 110000 branch employees serving 4 cr customers .so one staff in our bank serving 2000 customers while same for HDFC is 350 .per branch we have average 19000 customers HDFC bank has less than 8000 .and if you compare profile of customers then picture is even more grim.

So buck stops at your and your appointee door madam.and no amount of motivation by top management as suggested by you can change this ground reality .

Situation in other PSB like UBI,OBC are worse than ours .per branch less than 6 staffs .ratio for our is less than 10 and for HDFC bank it is more than 20 .In TPP HDFC having seperate staff but in our bank position is worst having no separate staff same position in OBC,UBI

So madam FM charity begins from home .

If you want personalised service in PSB recruit more and more .

Forwarded as received from

Mega banker merger from 1st April. Confirm

The Modi Government intends to stick to the April 1 deadline for amalgamation of 10 public sector banks (PSBs) into four units. Meanwhile, the Union Cabinet is likely to consider next week a formal proposal for the amalgamation.

The government proposes amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank, Syndicate Bank into Canara Bank, Andhra Bank and Corporation Bank into Union Bank of India and Allahabad Bank into Indian Bank. The boards of all the concerned banks have already given ‘in-principal’ approval to this process.

Amalgamation is a process where one or more entities are subsumed into another entity, giving birth to a new institution. Unlike merger, no share purchase is undertaken by the dominant institution, and it does not make any payment either. However, there is a ‘share-swap’ process where shareholders of various entities being subsumed are allotted certain number of shares in the new entity.

“The government has the flexibility to compress the timeline to finalise the scheme of amalgamation,” a senior government official said here.

This response has come at a time when doubts have been raised about the time needed to complete the process. Post approval from the Cabinet and then from the boards, the matter will go the market regulator Securities and Exchange Board of India (SEBI), as all the entities to be amalgamated are listed on stock exchanges. Normally, it takes 30-40 days for the approval to be granted. With just one month left now, there were concerns.

The Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980 provide that the Central Government, in consultation with the Reserve Bank of India (RBI), may make a scheme, inter alia, for the amalgamation of any nationalised bank with any other nationalised bank. Various committees, including Narasimhan Committee (1998) constituted by the RBI, Leeladhar Committee (2008) chaired by RBI Deputy Governor, and Nayak Committee (2014) constituted by the RBI, have recommended consolidation of public sector banks (PSBs) given the underlying benefits/synergies.

Taking note of these recommendations and the potential benefits of consolidation for banks as well as the public through enhanced access to banking services, with a view to facilitate consolidation among PSBs to create strong and competitive banks, serving as catalysts for growth, and with improved risk profile of the bank, the government has given approval to the proposal to amalgamate the PSBs through an Alternative Mechanism (AM).

The AM, after consulting the RBI, gave its approval for the respective Boards of 10 PSBs to consider the amalgamation into four amalgamated entities. The boards of the banks concerned considered the amalgamation and approved the same in-principle. Since, the entire process talks about bringing down the number of public sector banks, there have been many grievances, mainly from employees unions.

Following discussions between the Indian Banks’ Association and employees’ representatives on various demands raised by employee organisations, the government has requested the amalgamating banks to form joint committees of the Executive Directors of the banks concerned to consider and make appropriate recommendations to the management and/or bank’s Board on matters arising from or related to the proposed amalgamation. The government has repeatedly assured that not a single employee will 

 :  .

Mega merger may be delayed by minimum 6 month

Last year, Sitharaman had announced the merger of 10 public sector banks into four large banks. According to the government's plan, Punjab National Bank will merge with United Bank and Oriental Bank of Commerce, Syndicate Bank to merge with Canada Bank, Allahabad with Indian Bank,  while Andhra Bank, Corporation Bank will be consolidated with Union Bank of India.

The mega-merger of 10 public sector banks into four large banks announced last year will not see the light of the day until Oct 1, a senior finance ministry official who didn't wish to be quoted told Zee Business in an exclusive interaction. The deadline for the merger, which is April 1, 2020, is difficult to meet in view of additional capital requirement and regulatory processes, as per the source.

"We are analysing branch integration, employees' future and other regulatory procedures for the merger. Additional capital may also be required for implementing the merger. Considering these factors, the deadline of April 1 is difficult to be met," the source added.

Meanwhile, the cabinet is likely to approve the government's announcement made on PSU banks' merger in its next meeting, according to sources. Recently, Finance Minister Nirmala Sitharaman had said that there was no reason to go back on merger plans or delay in the notification.

Merger of bank may not be possible

Today finance minister meeting PSB chief ..focus of meeting is on reforms and today cabinet is also meeting .so today is last hope for 1 St April amalgamation deadline which by all accounts seems to be heading for another deadline and may be with new pairing .there is something wrong some where in government quarter .if they have rethinking on merger of PSB then it is for good because it was a bad idea .it remains a bad idea and it will remain a bad idea .so many PSB share price on 52 weeks low and no bottom in sight .only SBI holding up that too due to SBI card issue slate for first week of march .

Dark cloud over PSB merging ahead .

Bank merger effective date may be shifted from 01.04 to 01.07.2020

Next Bipartite talk on 29th February at 11 a.m

Bank merger notification will be published today or tomorrow

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Delhi: The Union Cabinet is likely to consider the merger of 10 PSU banks into four big lenders this week to allow the process to take effect from the scheduled date of April 1, 2020. Once notified, the boards of these banks will approve the swap ratio for the merger. Each bank is required to follow regulatory norms to protect minority stakeholders' interests.

The mega merger was announced on August 30 last year. The government is slated to notify the merger of 10 public sector banks to create four big lenders later this week, as the banks have completed the necessary groundwork, said officials.

On the issue of the mergers being not notified so far since the April 1 deadline is not so far away, Finance Minister Nirmala Sitharaman had said: "I don't see any reason to go back or any reason which is particularly causing any delay for any notification...you will hear on it as it when it comes."

Under the plan, the Punjab National Bank will take over the Oriental Bank of Commerce and the United Bank, the Canara Bank will take over the Syndicate Bank, the Union Bank of India will take over the Andhra Bank, and the Corporation Bank and the Indian Bank will be merged with the Allahabad Bank.

In April 2019, the Bank of Baroda, in a three-way merger exercise, amalgamated the Vijaya Bank and the Dena Bank with itself. The SBI had merged five of its associate banks - the State Bank of Patiala, the State Bank of Bikaner and Jaipur, the State Bank of Mysore, the State Bank of Travancore and the State Bank of Hyderabad as well as the Bharatiya Mahila Bank with itself effective April  20182018Coleman & Company Limited

35000 will lost their job from HSBC IN CURRENT YEAR

HSBC announced a radical overhaul on Tuesday, including plans to slash 35,000 jobs and slim operations in the United States and Europe, after profits slid by a third last year.

The Asia-focused lender has been trying to lower costs as it faces a multitude of uncertainties caused by the grinding US-China trade war, Britain's departure from the European Union and now the deadly new coronavirus in China.

While its Asia business has done well in recent years -- fuelled primarily by China -- Europe and the US have disappointed.

Noel Quinn, who took over as acting CEO after the shock ouster in August of John Flint, has been tasked with transforming the sprawling international bank, which spans more than 50 countries but makes the vast majority of its profit in Asia.

"Parts of our business are not delivering acceptable returns. We are therefore outlining a revised plan to increase returns for investors," Quinn said.

He later told Bloomberg News that the global headcount would be cut from 235,000 to 200,000 over the next three years, although no details were given on where the axe would fall.

The restructuring plans are the most ambitious since 2012 when HSBC was caught up in a Mexican money laundering scandal.

HSBC's shares slid 2.2 percent in Hong Kong, outstripping losses in the broader market.

The bank said it was targeting $4.5 billion in cost cuts by 2022, with restructuring costs of around $6 billion.

Much of the cutbacks will be in the European and US investment banking sectors, while units in more profitable Asia and the Middle East would be bolstered.

"We intend to reduce capital and costs in our underperforming businesses to enable continued investment in businesses with stronger returns and growth prospects," the bank said.

"We also plan to simplify our complex organisational structure, including a reduction in Group and central costs."

In the US, the bank said it planned to reduce its branch network by around 30 percent, consolidate back and middle office activities and lower operating expenses by 10-15 percent.

For its non-UK Europe sector, the bank said it would "reduce our sales and trading and equity research in Europe and transition our structured products capabilities from the UK to Asia." Riskier assets would be reduced by 35 per cent in Europe and 45 per cent in the US. Overall, the bank said it hoped to achieve a lower adjusted cost base of $31 billion or below in 2022.

The announcement came as HSBC reported pre-tax profits last year of $13.3 billion, 33 percent down on 2018, largely thanks to a $7.3 billion one time write-off related to its investment and commercial banking businesses in Europe.

It also reported a loss before tax of $3.9 billion in the fourth quarter of 2019.

Tuesday's statement gave little clarity on whether Quinn would get the CEO job full time, saying a permanent chief would be appointed within six to 12 months.

"I think they will let him do the restructuring and if it is good, then he might become permanent," Jackson Wong, an asset management director at Amber Hill Capital, told AFP.

"But they are still searching to see whether someone can grow the business not just cut costs." The bright spot for HSBC remains Asia which has accounted for half of its revenue and 90 percent of the group's profit in recent years.

Adjusted profit before tax in Asia last year was up six percent to $18.6 billion.

Even in Hong Kong, which was battered by months of seething pro-democracy protests last year, the banking giant posted a five percent increase in adjusted pre-tax profit to $12.1 billion.

But HSBC warned the outbreak of a new deadly coronavirus in China had lowered their expectations for growth in Asia in 2020.

There was no update on the bank's French retail arm, which HSBC is reported to be looking to sell all or part of.