DOWN MEMORY LANE -Tomorrow is the last day of working for Oriental Bank Of Commerce

       Tomorrow is the last day of working for Oriental Bank Of Commerce which is 78 years old Public Sector Bank in India founded in 1943.I Worked with many awesome bosses, colleagues through whom I Iearnt so many things & also met some amazing people - our customers.I never forget some bosses who always inspired me to go ahead.They all are in my heart.  Corporation Bank was founded in 1906 while  Andhra Bank  in 1923 with regional flavour of Coastel Karnataka & Andhra Pradesh, Syndicate Bank in 1925 & Allahabad bank in 1865 with Head Quarter in Bangalore & Kolkata & United Bank in 1950 with Head Quarter at Kolkata also. All those Banks have great history. Those financial institutions are the product of Indian National Movement. Each Bank has predominance in one or the other geographical areas such as United Bank in West Bengal & North East, Allahabad Bank in UP & West Bengal, Corporation in Coastel Karnataka, Andhra in AP & Telangana, OBC in Punjab & Haryana & Delhi. Each Bank has its own culture depending on its spread in particular geographical areas. Those Banks have contributed greatly in the economic development of respective geographical areas. All big corporates of today have started with the support from those Banks. Those Banks are the lifeline for the commen man in the respective areas. For employees Bank was the identity. Generations have sweated to develop those institutions.
On 1st April 2020 those great institutions will cease to have its existence but not the history. Nobody can disown it's contribution.

Despite resistance from all government has taken this decision amidst chaos on account of Covid 2019 which is most unfortunate. In our view this merger is the precursor for Bank privatisation which is one of the policy prescription of new economic policy propounded by the capitalism which today is paying the cost amidst Coved 2019 in citadel of Capitalism United States of America. Today entire world is repenting on the said policy prescription. In post Covid 2019 global scenario entire humanity will have to relook to the world differently. Present crisis is likely to be worst than 2008. Finance will be in great danger. Thus our view point in larger context is vindicated. We need to be firm & confident on our idiology. Yes ! The day is not far off when entire world will recognise & acknowledge our view point till then we have to MARCH ON with confidence & raise our voice in our own way till we succeed.
         

RBI changes SLBC convenors over merger of 10 PSBs into 4 from April 1

The Reserve Bank on Monday proposed to change the convenors of State Level Bankers' Committee (SLBC) in view of the merger of 10 public sector banks into 4 with effect from April 1.

With the mega merger, 6 public sector banks will cease to exist from April 1, necessitating changes in the convenorship.

The convenorship of merged banks will be transferred to anchor banks.

The government on March 4 notified the amalgamation scheme as part of its consolidation plan to create bigger and stronger banks in the public sector.

As per the scheme, Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; and Andhra Bank and Corporation Bank into Union Bank of India.

Following the merger, PNB will become the SLBC convenor of Delhi. Currently, the responsibility rests with Oriental Bank of Commerce, RBI said in a notification.

For Tripura and West Bengal too, convenorship will be transferred to PNB from United Bank of India, it said.

The new SLBC convenor for Andhra Pradesh will be Union Bank of India as Andhra Bank is being amalgamated with the Mumbai-based lender.

Even for Karnataka, Syndicate Bank will transfer the responsibility to Canara Bank which is going to acquire the former. Similarly, district lead bankers would also be revamped. As many as 111 districts will see new lead bankers beginning next fiscal.

SLBC came into existence under Lead Bank Scheme as per RBI guidelines. SLBC is an inter-institutional forum at state level ensuring coordination between the government and banks on matters pertaining to banking development.

The forum plays a vital role in various matters including financial inclusion and promotion of government schemes.

Bank employees seek transportation, police protection for working

The bank employees association has sought necessary transportation of its staff to bank branches after government announced various relief measures for citizens affected by the coronavirus lockdown. The association also sought police protection saying these relief measures may lead to large number of customers rushing to the banks.

The All India Bank Employees' Association (AIBEA) said that the move will create sudden and huge crowd in the branches and since the number of employees in these branches are very few, the crowd can pose a big risk for the bank staff as well as for the customers who might be visiting in large numbers.

With the Prime Minister announcing the national-level lockdown and public transportation being stopped in most of the cities, many employees are unable to attend office. Restricting the banking business hours to four hours, alternate day attendance and workiing from home, etc. are helpful to the banks and the staff to somehow manage in these adverse circumstances, said C H Venkatachalam, general secretary of AIBEA in a statement issued today.

The announcement of various measures under the different government schemes by the government yesterday is bound to result in sudden increase in crowd at those branches, especially in the rural and semi-urban branches. The number of employees in these branches are very few and it would be next to impossible to manage the anxious customers.

"There is a big risk for the bank staff as well as for the customers who are inside the bank premises in large number and this would go totally against the objective of social distancing and increase the risk of infection. Bank employees are very scared and feel highly apprehensive about such an imminent possibility and eventuality," he said.

The association sought that the bank managements should ensure necessary transportation for the staff to reach the branches where they do not have their own vehicles; police/security personnel are provided in front of the branches to regulate the crowding customers and allow them inside the premises one by one, such customers are provided with proper sanitizing liquid, etc. before entering the premises; Bank managements provide additional staff on deputation in such Branches on the days of disbursements; and the beneficiaries are staggered and not allowed to come to the branches on a single day.

"We are sure that the Government and the IBA/Bank managements will take the above into account and ensure necessary arrangements as above so that employees can extend their best co-operation and we can avoid industrial disputes, conflicts and tensions. Kindly treat this as important and on priority," he added in a letter addressed to the Secretary of Department of Financial Services, Union Ministry of Finance.

No disruption in customer services; all branches to remain open: Bankers assures FM

Finance Minister Nirmala Sitharaman on Saturday said she had extensive discussions with the heads of banks who assured of customers services without disruption and keeping all branches open. Lauding efforts of bankers in this difficult time, the minister said it is encouraging to know that they are doing their best even during the lockdown.

“Finance Minister Smt @nsitharaman today made one-to-one calls with CMDs of all public sector banks. @TheOfficialSBI @pnbindia @MyIndianBank @canarabank @UnionBankTweet s @IOBIndia @AllBank1865 @bank_andhra @BankofIndia_IN @bankofbaroda @mahabank @centralbank_in @CorporationBan2,” a tweet said.

She also assured that she will talk to states and ensure that there are no restrictions on the movement of cash, bankers, vendors or bank mitras. “Had a detailed conversation with the chiefs of banks – public & private. Encouraging to know that they are doing their best, even during the lockdown. They are certain that they’ll ensure customer service without disruption. Social distancing is being adhered to as well,” Sitharaman said in another tweet.

She also asked heads of banks to make sure there was adequate money in ATMs, branches and with banking correspondents. The virtual meeting was also attended by Financial Services Secretary Debasish Panda and joint secretaries Madnesh Kumar Mishra and Suchindra Mishra with the Department of Financial Services.
During the call, she also instructed CEOs to ensure that all branches and ATMs remain open and continue operations.

Besides, she advised them to provide authorisation to bank staff and coordinate with district administration for the smooth passage of bank staff. The government earlier this week announced a slew of measures, including direct benefit transfer of cash assistance to the poor, old age people and disabled, for mitigating hardship posed by the outbreak of coronavirus.

“The entire banking fraternity deserves recognition and thanks for their tireless and brave efforts to ensure that banking services continue in these adverse times and that every customer is reached in a timely and safe manner,” she said. Appreciating efforts of bankers, she said, “Bank officials and staff have consistently been on the frontline in providing services to customers during this time of adversity, whether it is physically providing cash where it is needed or keeping branches open no matter what”.

According to Indian Banks’ Association (IBA), 1,05,988 bank branches across the country were operational on Friday. However, banks are closed on Saturday and Sunday. The Finance Minister also requested customers to adapt to digital banking and avoid visiting bank branches.

“PSB staff & customers across India practising #SocialDistancing. Kudos to bankers providing necessary service in these testing times. Customers are rqstd (requested) to adapt #NetBanking #MobileBanking & visit branch only if they must,” she said.

STATUS OF BANK BRANCH OPEN AND FUNCTIONING IN INDIA PSU AND PVT BANK

 

Functioning of merged entity of PNB, OBC, UBI to be big challenge during lockdown: Official

 The functioning of the amalgamated entity of three PSBs 
-- Punjab National Bank  Oriental Bank of Commerce  and United Bank of India that comes into being on April 1-- 
will be a "big challenge" in the wake of the ongoing 
21-day nationwide lockdown, an official said on Friday.

The merger of UBI and OBC into PNB will lead to the creation of the country's second largest lender after 

State Bank of IndiaNSE 1.66 %, the official said.

"Under the given conditions, the effective functioning of 

the merged entity will be a big challenge. The government has not given any direction so far in this regard," the UBI official told PTI.

The legal process of the merger has been completed, he said.

OBC and UBI are the transferor banks while PNB is the transferee in this amalgamation process

The boards of UBI and OBC will cease to exist from April 1, 2020, the official said.

The effective functioning of the merged entity will be seriously impacted due to the outbreak

of COVID-19, which has put all plans into a tailspin," the official said.

According to the swap ratio, 1,150 equity shares of PNB are to be exchanged for

 every 1,000 shares of Oriental Bank of Commerce. As many as 121 equity 

shares of PNB are to be swapped for every 1,000 shares of the Kolkata-

headquartered bank

 

 

Is this a waiver of EMIs or a deferment of EMIs?* SEE DETAILS FROM RBI CLARIFICATION

_Here are questions on RBI decision related to personal loan / EMI/  creditcard bills answered._

*Q: My EMI is due soon. Will the payment not be deducted from my account?*

A: The RBI has only allowed banks to allow a moratorium. Individual banks will have to allow suspension of EMIs. The borrower will have to request the bank and show that his or her income has been impacted by the coronavirus disruption. This means that unless you have specific approval from your bank, your EMIs will still be deducted from your account.

*Q. Is this a waiver of EMIs or a deferment of EMIs?*

This is not a waiver, but a deferment. You will have to pay the EMIs at a later as decided by the bank. The RBI has told banks to have board approved policies in place on moratorium/deferment.

*Q: Does the moratorium cover both principal and interest?*

A: Yes. It does. If announced by your bank, you can forego payment of your entire EMI, including payment and interest.

*Q. What kind of loans does the moratorium cover?*

The RBI policy statement explicitly mentions term loans, which includes home loans, personal loans, education loans, auto  and any loans which have a fixed tenure. The also include consumer durable loans, such as EMIs on mobiles, fridge, TV etc

*Q: Does the moratorium cover credit card payments?*

A: Since credit cards are defined as revolving credit and not term loans, they are not covered under the moratorium.

*Q: I have taken a business loan. Can I not pay my EMI?*

A: The moratorium has been allowed on retail loans

Big relief to borrowers---RBI allows 3-month moratorium on loans:

The Reserve Bank of India, on March 27, made the big announcement that the Indian middle class and small entrepreneurs have been waiting for.

The RBI governor has said that all banking institutions can offer three-month moratorium on all loans for a period of three months. The RBI has also allowed banks to restructure the working capital cycle for companies without worrying that these will have to be classified as NPA.

This announcement is big since the economy is under hardship and reeling under job losses and industrial shutdown. The three-month moratorium will permit banks to avoid a large onset of NPAs during the 21-day lockdown and keep their books healthy.

For borrowers too, the three-month moratorium will be helpful to ease the burden on their savings and avoid the fear of turning defaulters. This is the big stimulus the small industry and working middle class have been waiting for.

NEXT WEAK WILL BE CRITICAL FOR BANKER - banks are warning of large crowds in branches as Pradhan Mantri Jan Dhan Yojana , SALARY AND PENSION PAYMENT - HOW THEY MANAGE THE SITUATION???

Banks and ATM service providers are bracing for an intense week following the government announcement of direct benefit transfer (DBT) into crores of accounts, which coincides with salary and pension payouts. Even as many branches are not able to operate because of a staff shortage, banks are warning of large crowds in branches as Pradhan Mantri Jan Dhan Yojana (PMJDY) account beneficiaries, unfamiliar with debit cards, approach branches for withdrawal.

Meanwhile, ATM service providers say their employees are not being recognised as ‘essential services’ by police at the ground level. “If the government is going to put in more funds through DBT accounts, the last-mile reach is provided by the ATM network. Government agencies should help ATM service providers and cash-in-transit companies to do their job,” said NCR India MD Navroze Dastur.

He said that the ATM employees should be given curfew passes to be able to attend to the cash machines. “Our employees are doing a diligent job. But if they are beaten on the streets, they will say, ‘Why should we go out?” he added.

ATMs are the backbone of cash disbursement as they can store up to Rs 20 lakh and enable over 200 withdrawals a day. “Law enforcement authorities should be able to identify people providing essential services and provide protection so that they can continue  .to provide services. These are not normal times and there is a need for everyone to get together to make things work,” said Electronic Payment and Services founder-director Mani Mamallan.

While bank branches have been instructed to operate with a skeletal staff of manager-cashier and sub-staff, even this is proving to be a challenge. Banks are getting staff to take turns in attending office. In some regions, the managers have taken a call to operate branches on alternate days, but there is no instruction from the head office allowing for closure of branches. Most banks have exempted people with disabilities from attending office and are treating this as paid leave.

For SBI, which has been at the forefront of distributing government benefits, another issue is government pension payouts. Pensioners collect their money from the branches and do not use the ATM as they are required to be present at the branch for life certificate verification.

“Next week will be critical because of the salary and pension payment. The state government treasury prohibits banks from issuing ATM cards to pensioners. This needs to be amended forthwith so that pensioners can carry out their transactions through ATM,” said Maharashtra State Bank Employees Federation general secretary Devidas Tuljapurkar. He added that crowding at branches not only puts branch employees at risk but also increases the risk of a contagion. The government has said that it will credit Rs 500 every month for the next three months into PMJDY accounts held by women. Banks were asked to give the number of such beneficiaries on Thursday, following which the transfer date would be announced. They have already been instructed to ensure that there is enough cash with branches, ATMs or business correspondents across the country. Also, funds would be transferred to MNREGA accounts and accounts of senior citizens, widows and disabled who are pOOR..

 

Kotak Mahindra Group reimburse employees, family members for COVID-19 test

Financial services major Kotak Mahindra Group on Thursday said it will reimburse its employees and their family members for COVID-19 (coronavirus) test.

The group, which runs private sector lender Kotak Mahindra   has nearly 60,000 employees.

"All employees or immediate family members that are advised to go for COVID-19 testing will have the cost of the test done through private labs reimbursed to them," it said in a statement.

Earlier this week, the government had allowed select private sector entities to start testing for the dreaded virus, which has taken 13 lives in India and infected over 600 people.

During the lockdown, the working hours for branches have been reduced to between 1000-1400 hrs as there is a limited number of staff working, the statement said.

Wherever required, fumigation or sanitisation of offices and branches is being undertaken, it added.

t's chief executive Uday Kotak had earlier this week said that we are entering "unchartered waters" with the coronavirus outbreak.

"Nobody can predict how or when this will end, and what shape the world will be then," Kotak had written to employees, asking them to be vigilant and prepared.

 

Central Employees Salary for March 2020 - update

Current lockdown throughout the country paralyzed the entire system of Govt. and Public. All salaried employees are in a dilemma whether to get their salary in time this month. Normally Govt. employees get their salary credited on the first BANK working day of April. 
Now the salary bill is created in PFMS and uploaded online to the PAO and subsequently the hard copy is submitted to the Accounts Office.
In the present scenario, bills can be prepared and submitted online from home but sending of hard copy is not possible. It is learnt from Controller General of Accounts' office that for this month the necessity of sending hard copy is dispensed with.
An order issued on 23.03.2020, Dept. of Expenditure, assured prompt functioning of Govt. Expenditure Mechanism in the hour of crisis. 
Order

Ministry of Home Affairs issued an addendum to include CGA employees in the exemption list in the lockdown.
"In the new guidelines, the ministry said Reserve Bank of India and RBI-regulated financial markets, pay and accounts officers and field officers of the CAG, petroleum products and supply chain and forest staff are exempted from the purview of the lockdown."

https://mha.gov.in/sites/default/files/MHA%20order%20with%20addendum%20to%20Guidelines%20Dated%2024.3.2020.pdf

Postponing Merger of Bank will be a wise decision in the present situation

REVISIT THE DECISION OF MERGER OF 10 PSBS-AIBOC WRITES TO THE HON’BLE PRIME MINISTER

Dear Comrade,

AIBOC WRITES TO THE HON’BLE PRIME MINISTER TO REVISIT THE DECISION OF MERGER OF 10 PSBS

We have sent a communiqué to the Hon’ble Prime Minister of India vide our letter no. AIBOC/2020/17 dated 25.03.2020 on the captioned subject. Copy of the same has also been sent to the Hon’ble Finance Minister, Govt. of India, Hon’ble Minister of State for Finance, Govt. of India and the Finance Secretary, Govt of India. Text of the communication is appended.

With greetings,

(Soumya Datta)
General Secretary

LATHI CHARGE ON BANK EMPLOYEE ATTENDING HIS DUTY??? NOW WHO IS RESPONSIBLE FOR THIS???

 Now who is responsible for this ?? we bankers seems to be valueless. 😤 No one speak on behalf of us. 

No one will speak now .They will speak during situation like Note badhi jandhan yojna etc.Even our responsible Finance Minister will say heartless people to bankers and our honorable prime minister has never mentioned about bankers working during this difficult situations. Only uparwala bharasa

BANKING HOURS 10 to 2 P. M DURING LCK DOWN PERIOD

DEAR Banker Please follow to avoid CORONA

Dear All,

As India is entering Stage 3. All Are Requested to follow below mentioned Proactive Measures for household activities for Next 15-20 days to prevent ourself , family and Friends from impact of this Corona Virus .

1) Wash Milk bags the moment we take it & wash your Hands while you are at it..

2) Consider cancelling Newspapers..

3) Keep a separate Tray for Couriers.. Courier person can place the Envelope/Packet in the Tray and Courier may be left untouched for at least 24 hours..

4) Instruct Maids not to touch Main door.. On entering the Home, she has to immediatly Wash hands thoroughly, before touching other things.. After that, wipe the Calling-bell switch with a Cleaning fluid..

5) Avoid getting Swiggy, Zomato, Big Basket, Flipkart, Amazon etc, as far as possible..

6) Wash all Fruits and Vegetables once you bring them Home..

7) Remote, Phone, Mobiles and Keyboards are the most highly contaminated elements in our House.. Clean them at least once a day using Cleaning fluid..

8) Wash Hands frequently when in House or in Office, atleast once every hour..

9) Avoid Public Transport as far as possible.. Even Ola or Uber may be used when absolutely unavoidable..

10) Avoid Gyms, Swimming Pool and other Exercise areas, where surface contact or Air-borne contamination is inevitable..

11) Cancel Tuitions, Dance/Music classes, etc..

12) When you return Home from Office or Shopping etc, discard your Clothes and wash your Hands and Feet thoroughly..

13) Most importantly do not touch Hands anywhere on Face.. Inform Children and Parents..

14) Ask Senior Citizens to stop going for the routine Walking exercise..

15) Stop all Visitors in the House like Tutors/Yoga teacher and even outside Maids..

Let's all be alert as we will be entering Stage 3 soon which is an outbreak of infection in Community (from individual cases)..

I have only one thing to say...... SHUT IT DOWN..BANK... IMMEDIATELY !!

AN OPEN LETTER TO MANAGEMENT AND ASSOCIATION/STAFF UNION

After lot of contemplation, I have decided to draft this open letter.

I carry tremendous respect for the Chairman of our bank, our Circle CGM, all our GMs, DGMs, other seniors, Office bearers of our Association, Staff union and all empowered to take and prompt for serious decisions in our organisation.

Introduction is not required. We all know the gravity of COVID spread in our country and that we are almost entering or probably already entered the the 3rd phase of Community Spread. Things are getting out of hand. We are already advised to avoid gatherings.

Undisputedly banks like any other public  space are potential strongholds for easy spread of the virus. We appreciate the alternate working day pattern implemented at all Admin offices, RBOs, LHOs and CC. But your inability to implement it simultaneously at the branches is nothing short of cowardice. All of us are convinced it needs to be done. Still we won't take a prompt decision on this. Remember that a late decision is as good as no decision.

We might have hundreds of reasons to quote:
1. The economy will collapse if the banking system goes off suddenly.

2. It is year ending time and lot of things to be done: - Prepare for statutory, take care of advances, do renewals, achieve targets of deposits and advances, implement gold loan subsidy related stuff, try maximum to restrict NPAs and many other (I have less than 5 years workex at bank)

3. We can't simply close branches like that !!! Needs RBI permission, Fin Ministry Approval, Norms of Negotiable Instruments Act. etc etc.

Please remember that these are extraordinary times and require extraordinary decisions. The future will remember your leadership for such decisions and not for giving usual statements. One thousand bucks for Masks and sanitizers will  prove futile if community spread intensifies because we have the one of the weakest health machinery in proportion to our population.

It is brainless to open branches and then tell people to not come over. They will come, no matter what.

I have only one thing to say...... SHUT IT DOWN..... NOW !!!

Innovate if you want to reduce the impact like gradual closing down of branches in a district one after the other. Deploy branch staff to work from home and  assist customers as phone helplines for giving advices - about ATM usage, Internet banking etc. Or any such measure.

If you think our country is not ready for such abrupt digitalisation, remember we were not ready for demonetisation either, but we coped.

So SHUT IT DOWN !!!

People from LHO still call and ask when we will complete renewals. Still pressure from seniors for achieving advance growth.

It is your chance to take/enable bold decisions. Show the courage. The nation will stand by you if the decisions face setbacks from govt.

Somehow I also lack the courage to send this letter to our management directly because our setup involves a lot off ego and direct statements are not OK in our professional setup.

PLEASE DECIDE NOW OR YOU WILL NEGOTIATE YOUR INSTRUMENTS OVER DEAD BODIES IN A MONTH'S TIME !!!

Tedy Somar
Deputy Manager
State Bank of India
Kottayam Civil Station Branch

Indian Banks Association suspends all non-essential services

Indian Banks Association suspends all non-essential services
Indian Banks Association has issued an appeal stating from 23 March onwards, bank branches in India will be open only for essential services - cash deposits and withdrawals, clearing of cheques, remittances government transactions. All non-essential services will be suspended

Banknotes may be spreading coronavirus, World Health Organisation warns

The World Health Organisation (WHO) has advised people to use contactless technology instead of cash as banknotes may be spreading coronavirus.

The infectious COVID-19 virus could be carried on the surface of banknotes for several days, the WHO warned on Monday night.

To stop the spread of the disease, people should use contactless payments where possible and wash their hands after handling cash, a WHO spokesman said.

The Bank of England also recognised that banknotes “can carry bacteria or viruses” and encouraged frequent hand washing.

Running scale of pay till retirement and no stagnation in the wages -AINBOF DEMANDD

Dear friends,

1. AINBOF a body meant exclusively for the PSB officers is demanding consistently the following:

A. To follow the minimum wages policy, the formula which was used in seventh CPC and it was demanded even before the Code on wages act.
B. To give the wages to the officers equivalent to Grade A officers salary when the minimum wages policy adopted.
C. Running scale of pay till retirement and no stagnation in the wages.
D. Updation of pension
E. Scrapping of NPS.

2. These above demands were demanded by all the four officers organisations but left to follow the percentage basis which relies on the paying capacity of the banks instead of need based wages for the officers.

3. Aiboc has demanded the above when it went on two days strike.

4. Employees organisations demanded when they observed the National strike.

5. When it is not happening, few individuals went to the court which was supported by Cboa and AINBOF.

6. Government has enacted Code on wages act which is in support of our demand.

7. IBA submitted an affidavit claims that they are only facilitators.

8. In between UFBU had an agreement with IBA with 15% and 2% load ultimately may result in meagre increase which is against the expectations of the officers.

9. AINBOF is continuing its effort and is left with three options as it is not the negotiating body with the IBA.

A. Continue to create awareness among the officers on the AINBOF’s stand on wage revision as explained above.

B. Pursue the issue in the court by joining with the petitioners.

C. Taking up with the labour Commissioner to hear AINBOF stand.

10. Now, Honourable CHIEF LABOUR COMMISSIONER has invited AINBOF to hear our views.

11. We are failed to understand where AINBOF did anything wrong.

12. If the  AINBOF demands are beneficial, support the stand or else wait for the outcome.

13. Why one has to jump to criticise.

14. Even the AINBOFs demands are acceptable, IBA has to negotiate with UFBU and sign the agreement with UFBU only.

15. If anybody does not want the AINBOFs demands on wage revision, HAVE THE COURAGE TO CRITICISE THE DEMANDS AND CONVINCE THE OFFICERS.

15. It is unfair on the PART OF ANY TRADE UNION TO CRITICISE THE OTHER TRADE UNION WHICH COMMANDS THE SUPPORT OF NEARING LAC OF MEMBERS.

16.Even the prayers in the High courts also demand to direct the IBA to negotiate with UFBU on the lines of Code on wages act.

17. AINBOF is only going to present the genuine expectations of the thousands of officers which are LOGICALLY AND LEGALLY proved right.

MEMBERS HAVE ACCEPTED, COURTS HAVE ADMITTED AND THE GOVERNMENT HAS AGREED THAT THE AINBOF DEMANDS ARE JUST AND RIGHT.

So, the AINBOF is going to place their demands of

A. To follow the minimum wages policy, the formula which was used in seventh CPC and it was demanded even before the Code on wages act.
B. To give the wages to the officers equivalent to Grade A officers salary when the minimum wages policy adopted.
C. Running scale of pay till retirement and no stagnation in the wages.
D. Updation of pension
E. Scrapping of NPS.

to the Honourable CLC.

When it comes to negotiations THE NEGOTIATING COMMITTEE HAS GOT EVERY LIBERTY TO DECIDE OTHERWISE IF THEY HAVE GOT WISH TO DO SO.

We with folded hands request ALL TO WAIT TILL WE ACCOMPLISH OUR DEMOCRATIC RESPONSIBILITY OF PRESENTING THE GENUINE EXPECTATIONS OF THE OFFICERS.

Manimaran G V
General secretary
CBOA & AINBOF

19th March 2020

Coronavirus: RBI says banking services should not be disrupted

RBI today asked banks to put in business continuity measures to prevent any disruption of services, due to absenteeism either driven by the individual cases of infections or preventive measures

The Reserve Bank of India today asked banks to take measures and put in place business continuity plans to prevent any disruption of services due to coronavirus outbreak. "Several confirmed cases have also been detected in India, which highlight the need of a co-ordinated strategy for handling the emerging situations for protecting the resilience of the Indian financial system," RBI said in a statement.

The RBI asked banks to take these measures as part of their existing operational and business continuity plans, according to the central bank's statement released today:

1) Banks have been asked to devise strategy and monitoring mechanism concerning the spread of the disease within the organisation, making timely interventions for preventing further spread in case of detection of infected employees including travel plans and quarantine requirements.

28 Months over 50 round talk completed till today no hope of 11th bipartite

Once again the devil is on the shoulders.The small committee meeting with IBA on 16/03/2020,began with the discussion on load factor ended without any fruitful decision.UFBU had decided to meet shortly to crystallize the approach in the light of the talks on 16/03/2020.

UFBU had earlier deferred the 3 day strike slated in March, based on the "positive developments" on February 29th meeting.We don't know what transpired in the negotiations.Nothing has moved forward, other than 15% increase on pay.

We don't know what plan IBA is having in its mind,with respect to bipartite talks.Even after 50 rounds of talks, spanning 28 months,negotiations are dragging on and on, without any rhyme or reason.IBA has so far not rejected any demands outrightly.Right from 5 day banking to pensioners' issues ,IBA simply says that it will consider and the matter will be expedited.IBA is chanting the same slogan again and again.

Somewhere in the bottom line,IBA,has sensed that the constituents of UFBU are very much divided among themselves on many issues.Though they attend the talks together ,they don't have a unified purpose.UFBU lacks the vigour and vitality needed to
achieve the genuine demands of 10 lakhs bankmen. At the same time they have also not fell apart.So far so good.For a normal banker,it appears that both IBA and UFBU are not serious in carrying out their respective tasks entrusted upon them by the bankmen and the government.We don't know how the bipartite talks will move forward.We feel a sense of stagnation in the talks.

Meanwhile,we don't know what will be the fate of AIBEA's 27th March strike against merger of PSBs.It is likely that the strike may be called off due to "coronavirus issue."If the strike is withdrawn ,it is only a good thing .Who wants this strike now.

However ,as decided by UFBU,at least now they will have to sit together and discuss and cobble together ,every pending issue right from 5 day banking,demanding more than 15% increase,spl.allowance merger and last but not the least,the pensioners updation issue .We hope that at least now,UFBU will come out with a definite
set of achievable demands,and exhibit their solidarity at the forthcoming wage talks.Though we are all dejected and in deep agony,we are relying on the supernatural virtue of hope.

TODAY'S SMALL COMMITTEE MEETING UPDATION

 Dear Comrades,
Today small committee meeting with IBA took place at Mumbai. IBA led by Shri Alok Kumar Choudhary, DMD SBI. All constituents of UFBU participated. Discussion on load factor on Basic Pay after DA merger and it's impact on Superannuation cost was deliberated. Discussion remained inconclusive. UFBU would meet shortly to crystallize our approach in the light of today's discussion with IBA.
Regards. BANDLISH

BANK FRAUD AND TOTAL NPA NEAR ABOUT DOUBLE SINCE MODI CAME TO POWER

Banks operating in India have written off bad loans worth Rs 660 thousand crore since 2014, as per RBI data studied by NewsClick. The quantum of loans that were written off amounts to half of the total non-performing assets or bad loans that were recorded in the financial books of the banks.

Data published by Reserve Bank of India (RBI) also shows that as much as Rs. 237 thousand crore was written off from the financial books of the banks in financial year 2018-19 alone.

The graph shown below charts the steep rise in the amount being written off, often referred by banks as technical write-offs, allowing them to clean up their books, as the banks fail to recover the loans.

According to the RBI data, NPAs or bad loans on the financial books of banks have also seen a steep rise ever since 2014 – also the year the Bharatiya Janata Party-led government came to power at the Centre.

The total NPAs in 2013-14 amounted Rs. 205 thousand crore, which rose to a whopping Rs 1,173 thousand crore in 2018-2019. This steep rise in NPAs is shocking, especially under the watch of party that promised in its 2014 election manifesto that it would “take necessary steps to reduce NPAs in banking sector.”

Zooming Bank Fraud Cases

During the same period, the cases of bank frauds also saw a steep rise. Cases of frauds of more than Rs 1 lakh stood at 4,306 in 2012-13, and rose to 6,801 in 2018-19.

Money Sunk in Bank Fraud Cases

As the number of bank fraud cases increased, so did the amount of money sunk owing to these frauds. According to RBI’s annual report for 2018-19, the amount sunk in March 2013 due to bank frauds was Rs. 10.2 thousand crore, which rose to a shocking Rs 71.5 thousand crore in March 2018.

The impact of rising bad loans and growing cases of bank frauds is already being felt by depositors, the latest example being the collapse of private sector Yes Bank. In on of the biggest ever bank failures in the country, the private lender collapsed, forcing RBI to impose a moratorium on the private lender on March 5. The beleaguered bank is now set to be bailed out with State Bank of India (SBI) being the lead rescuer, along with some private banks.

Often referred by the industry experts, analysts and bank employees’ unions as the reason behind the ‘scrambling’ Indian banking industry, the rising NPAs, written off bad loans, bank fraud cases, paint a sorry picture for the future of the Indian banking system.

Fm has no idea about PSU bank this type of irresponsible statement unexpected

A lady who might have her account in Private Banks is giving lecture on PSB and representing the only PSB which is too big to fail as A heartless bank.

A lady who is always on AC rooms, AC Cars, is giving lecture that PSBs don't provide personal touch to customers. The ratio of public sector banker to customer is 1:2000. After giving his best, resolving customer issues in rural branches where even AC/Fans dont even work properly, they get to listen PSBs don't provide personal touch to customers.

When PSBs were suffering loss, Finance minister after discussion with RBI governer(MA in history) orders to merge banks and reduce the number. But when a Private Sector Bank totally goes into crisis and unable to stand on its own, the same Finance Minister asks The Heartless Bank to revive that Private Bank and urges govt department not to take their deposits to PSB.

What is this happening in the economy? What does the FM wants from herself? What does the FM wants from bankers?
Does she wants us to do frauds at bank level in the name of doing KYC without documents?
Does she wants us to do frauds at bank level in the name of rubbish policies of giving loans to everyone who don't even deserve a penny?

Sorry Mrs Finance Minister, we don't want you and you don't deserve us. If you are not able to do your job, not able to understand the finance, not able to understand the situation of economy. Kindly step down. We deserve better. At least not you.
Taken from a WhatsApp friend forward

11 TH BIPARTITE UPDATION FROM BEFI OFFICE BEARERS MEETING

AXIS BANK, DEUTSCHE bank asked two-thirds of employees in its headquarters to work from home for corona virus

Banks such as Axis Bank, Deutsche Bank and Japanese lender MUFG have taken unprecedented steps in their day-to-day functioning to reduce the risk from the coronavirus outbreak.

Axis Bank has invoked its emergency business continuity plan (BCP) and asked two-thirds of employees in its headquarters to work from home. Deutsche Bank has asked some of its employees to not come to office. The Reserve Bank of India has also freezed overseas travel for its officials.

“We have activated BCP for our headquarters on Thursday morning. On Wednesday, all department heads were told that two-thirds of employees won’t be allowed in the building. So, we have one-third people today. Employees can connect from home and if they need to connect to the bank’s system, they can do so through the nearest branch,” said executive director Rajesh Dahiya, who heads a special disaster prevention committee constituted by Axis Bank to take precautionary measures.

Deutsche Bank has asked some people to work from home while they can selectively meet clients within the city of Mumbai. Employees engaged in operations are in offices to ensure smooth functioning of the system. “We have enacted business continuity procedures in some of our locations, including having some of our colleagues in critical functions work from our business continuity site and some others from home,” a spokesperson said.

Citibank India is testing its contingency plan as it wants to see how services are working if people work from home. Citi India will likely issue a directive to employees soon, people in the know said. As in its overseas offices, local employees will also likely be asked to work from home, barring those in select operations. The bank did not reply to ET’s email seeking comment.

MUFG has applied some emergency protocols. “MUFG is closely monitoring the Covid-19 outbreak and has implemented precautionary measures, including travel advisories, minimisation of face-to-face meetings and prevention of large group gatherings,” said Shashank Joshi, its head of global corporate banking for India.

Dahiya said Axis was also using this as a test case to see what was the minimum number of people required in an emergency situation. “There is no threat now but I want to see if there is a spread how many people are required. Next Monday, we plan to work with only 10% people in the headquarters,” he said. “Right now, we are assuming it as a crisis. This is the largest scale we have ever done. Risk here is human beings and by reducing people I am reducing risk.”