Sister Nirmala Sitharaman,
( Finance Minister, GOI, N. Delhi)
Congratulations & good wishes on your becoming Finance Minister, Govt of India. May the God bless with success in all your endeavors.
Nir+mala, means very clean & pure (विशुद्ध), where no conteminations of the sort.
Every word that comes out from you represents the testimony of truth. Whether you were as BJP spokeperson or in government positions, you truthfully defended your Party & Government.
As Defence Minister in Modi-1, you became most powerful Defence Minister that could help Modi govt teach a lesson to Pak. Be it surgical strikes or Pulbama or return of Air Force pilot Abhinandan, you showed invincible courage to protect the interest & pride of country & people.
Sister, in Modi-2, you are assigned the task of Finance Minister, which in fact is the nerve of Nation & economy. Banking is the back-bone of nation and your Govt controls and owns all Public Sector Banks, holding over 70% of banking business.
These Banks stood as catalyst to economic policies & programs of government that be in power. In Modi-1, they very successfully implemented Demonetization, Pradhan Mantri Jan-Dhan Yojana, Bima Yojanas, Mudra Yojana etc. While economic growth world over slowed, India continued it's stride to rise as fast growing economy. It's our people's belief, India would continue grow faster and faster during Modi-2 Govt.
Sister, I don't think, you are unaware of challenges of PSBs or need any brief thereof. One of the main aim of Bank Nationalization of Banking in 1969 was to open the doors of Banking for common men. It remained unfulfilled all these years by the successive Congress govts, which nationalized the Banks. But, in a short span of six month, under Modi-1 Govt., banking out reach expanded to over 33 crore unbanked people under PMJDY.
Further, there was no law to deal with banking delinquancy. The Unions were demanding effective laws to deal with unscrupulous & delinquent bank borrowers, but Congress govt didn't heed to it, rather went on facilitating, accommodating, benefitting defaulters by waiver, writes off, restructuring. Thank Modi-1 government which enacted Bankruptcy Act, that could help bring defaulter under clutches. For last three years, the PSBs are passing through financial difficulties, due to high provisions they have to make for NPAs. Banks are expanding and operating profits being substantially increased year by year, but due to NPAs provisions they are in net losses.
The Employees and officers at grass root level, though, continued doing their best efforts to perform well, but for reasons beyond their control the situation remained sordid. The existing administrative structures of PSBs are too irrelevant that proved stale and nonproductive as well. However, under Modi-1, major steps were taken in this regard by consolidating all SBI subsidiaries & Rastrya Mahila Bank with SBI and now Dena Bank & Vijaya Bank with Bank of Baroda. We hope, the process of remaining PSBs' consolidating shall be done expeditiously by you. Also, all RRBs should be consolidated into one Bank to improve and revitalize them as viable entity.
Sister, you have a very crucial issue of great resentment, dissatisfaction and frustration among Banks' workforce, irrespective of cadre, who are at bottom in respect of their wages, pension and other service conditions. They suffer from no comparative & remunerative wages & service conditions, matching to their risks, responsibilies & job profiles. Wage settlement, though, expired on 31.10.2017, but new one is not making any headway. Pension, based on RBI Pension Policy had never been revised ever since it was introduced from 1.1.1986. Though, the RBI Pension Revision is cleared by Modi-1 Govt, but so far PSBs management or their Association , IBA, has not moved an inch in this matter. Sheer apathy prevails in HR matters, as neither the PSBs management nor their Association, IBA, treats it as important or acts upon it fairly. They, both, are casual, callous and capricious in addressing HR issues timely and expediously, which causes comprehensive colateral damages to the productivity of entire workforce. There is complete depressed sentiment among total workforce. The Pensioners, reeling under financial distress are passing from this world, but of no concerns to Banks' management.
I don't find Modi-1 Government anywhere wrong or lacking, as it ordered negotiation for new settlement in Feb.,2016, some 22 month before the expiry of then prevalent settlement, on 31.10.2017. Modi-1 Govt addressed/ resolved 42 year old OROP scheme involving whooping cost. Modi-1, approved RBI Pension Revision. As far Bank Pension Scheme is concerned, why Modi govt wouldn't have done it like it in RBI, particularly when it has no financial burden on Banks, if the management-IBA have clinched it and sent it to Govt.! Entire problem lies with Management-IBA combine.
Banking fraternity, as a whole looks to you with all positives. They have genuine aspirations, whether it is wages or Pension or other service conditions matching to their job profile. It's not necessary to as to what has been given, rather important point is as to how far it could instill satisfaction among the recipients. Banking fraternity as a whole is under extreme pressure of work load, offered far below compensation for their performance & productivity.
Banking fraternity looks to you with great hope for redressal of their wages, pension and service conditions befitting to their risk and responsibility that they carry as custodian of peoples' savings.
Please, therefore, look into aforesaid issues to arrest sheer discontentment & boost up sentiments of workforce. One can't achieve what he wish by his dissatisfied & demotivated workforce, therefore, we urge your immediate kind intervention to smoothen the situation at ground level.
Hope, it receives your kind attention and necessary steps are taken immediately.
Once we wish you again all success.
Regards,
(J. N. Shukla)
National Convener
FORUM OF BANKS PENSIONER ACTIVISTS
Prayagraj
6.6.2019
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