Union Bank Management And Trade Union

Public sector lender Union Bank of India has reported a net loss of ₹3,369 crore in the March quarter of FY19, owing to higher operational expenses, and provisions on account of bad loan divergences. The losses in Q4 of FY19 was wider than the ₹2,583-crore loss in the same period last year.
Reserve Bank of India (RBI) has found gross non-performing asset (NPA) divergence for FY18 at ₹867 crore and the ensuing provision divergence of ₹2,281 crore.

Union Bank of India had reported a  net loss of Rs 2,583 crore for fourth quarter ended March 2018 due to higher provisions and contingencies and loss in investment. The loss in March quarter included investment depreciation of Rs 1,120 crore.

Now at least management of our loved bank will realise that their predecessors inculcated dirty culture which has resulted in huge loss in FY 18-19.

I have been writing for more than 10 years that culture of  recruitment, promotion and transfer based on flattery and bribery is slowly causing damage to work culture.

A bank which never incurred loss in hundred years of its existence has now booked unprecedented loss and reported unprecedented NPA, much more still hidden which is proved and substantiated by divergence report of RBI.

Dirty culture perpetrated in last two decades has started showing it's consequences. The propagator and champion of Change Management and subsequent imposition of new model of management involving billions of rupees has now proved counter productive and futile exercise.

I think this is high time for top management of Union Bank , RBI and Government of India to introspect why their all plans and policies introduced and executed during last decade for improvement in health of bank has rather resulted in deterioration of health of the bank year after year. They should analyse why their robust training system, audit system and HR management failed to produce desired results.

Trade union leaders specially need to redefine their role and responsibilities. They till date played a role of giving justification to misdeeds of their colleagues merely to enhance their own power and position.

Equality Before Law is at stake