Central committee on banking service and BBB has approved the recommendation of niti ayog for privatizing 2 PSB , viz IOB and BOM. This is the first phase of privatization . Central govt directed to finalize the process before the FY 2021-22.
It has been decided by BBB to reduce the existing number of staff by 50%. Accordingly an attractive VRS scheme will be launched for staff having service of 20 years and above. Rest of the staff will be given performance based pay with variable pay component being 30% of CTC. More details are awaited. The whole excercise is sheduled to be completed by 30.09.2020
If sources have to be believed prime minister Modi is taking personal interest in the matter of privatisation of three banks namely IOB, BOM & PSB. As per the inside information some buyers have already shown interest in IOB & BOM. Finance Ministry is trying to do this excercise as soon as possible. There may be some more shocking decisions in coming days. Be prepared.
[22/07, 15:45] Badsha Da Silchar: The present position of Public Sector Banks in India ::
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## SIX MERGED BANKS ::
1) SBI (includes All erstwhile Associate Banks & Bharatiya Mahila Bank)
2) Bank of Baroda (includes erstwhile Vijaya Bank & Dena Bank)
3) Punjab National Bank (includes erstwhile Oriental Bank of Commerce & United Bank of India)
4) Canara Bank (includes erstwhile Syndicate Bank)
5) Union Bank of India (includes erstwhile Andhra Bank & Corporation Bank)
6) Indian Bank (includes erstwhile Allahabad Bank)
## SIX INDEPENDENT BANKS ::
1) Indian Overseas Bank
2) Bank of Maharashtra
3) Punjab & Sind Bank
4) UCO Bank
5) Bank of India
6) Central Bank of India
Decision taken to privatise two Banks immediately viz. Indian Overseas Bank & Bank of Maharashtra.
Other four Independent Banks will be privatised in the next phase.
It has been decided by BBB to reduce the existing number of staff by 50%. Accordingly an attractive VRS scheme will be launched for staff having service of 20 years and above. Rest of the staff will be given performance based pay with variable pay component being 30% of CTC. More details are awaited. The whole excercise is sheduled to be completed by 30.09.2020
If sources have to be believed prime minister Modi is taking personal interest in the matter of privatisation of three banks namely IOB, BOM & PSB. As per the inside information some buyers have already shown interest in IOB & BOM. Finance Ministry is trying to do this excercise as soon as possible. There may be some more shocking decisions in coming days. Be prepared.
[22/07, 15:45] Badsha Da Silchar: The present position of Public Sector Banks in India ::
---------------------------------------
## SIX MERGED BANKS ::
1) SBI (includes All erstwhile Associate Banks & Bharatiya Mahila Bank)
2) Bank of Baroda (includes erstwhile Vijaya Bank & Dena Bank)
3) Punjab National Bank (includes erstwhile Oriental Bank of Commerce & United Bank of India)
4) Canara Bank (includes erstwhile Syndicate Bank)
5) Union Bank of India (includes erstwhile Andhra Bank & Corporation Bank)
6) Indian Bank (includes erstwhile Allahabad Bank)
## SIX INDEPENDENT BANKS ::
1) Indian Overseas Bank
2) Bank of Maharashtra
3) Punjab & Sind Bank
4) UCO Bank
5) Bank of India
6) Central Bank of India
Decision taken to privatise two Banks immediately viz. Indian Overseas Bank & Bank of Maharashtra.
Other four Independent Banks will be privatised in the next phase.
2 comments:
Old news
Whenever BPS is arrived at then thread bare Analysis is carried out which yield no result but demoralize the negotiating committee
Shameful act.
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