Showing posts with label Bank Officers. Show all posts
Showing posts with label Bank Officers. Show all posts

Tuesday, July 8, 2014

Agitation Programme By Bank Staff

AIPNBOF Cir No. 43 dt. 08.07.2014
 
All INDIA PUNJAB NATIONAL BANK OFFICERS‟ FEDERATION (AFFILIATED TO AIBOA)


Central Office:
FLAT NO. 01, GH-25, SECTOR-20,
PANCHKULA Haryana – 134116.
PHONE: 0172- 4630090;
Mobile: 98155-66990;
E-mail: vermatr@gmail.com

Cir. No.  43/2014  Date: 08.07.2014 (For Internal Circulation only)

TO All Office Bearers / CC Members / State Units / Members:

8th Installment 
Massive Demonstration All over India before Circle Offices & FGMOs on 07.07.2014 Next Agitation Programme –  „Dharna‟ before Head Office on 19.07.2014 


Dear Comrades,

We are actively pursuing with the Head Office through our direct communications to the CMD, for taking an exemplary action against the abettors of suicide of Shri Ajay Sehgal. Through our letter dated 08.07.2014 to the Chairman and Managing Director, we have informed the Head Office that in case the demands of the AIPNBOF are not met then the AIPNBOF will sit on Dharna for one day in front of Head Office New Delhi on 19.07.2014. The content of the letter dated 08.07.2014 is appended below: - 

“Date: 08.07.2014
  
The Chairman and Managing Director, Punjab National Bank, Head Office, 7, Bhikhaiji Cama Place, New Delhi – 110066. 

Respected Sir,

Reg:  Abusive bosses and indifferent Top Management: Ever increasing misuse of power, Use of abusive / derogatory / threatening language by Senior Executives of the Bank under the regime of your goodself; culminating into the fatal incident at Chandigarh – „SAVE PNB‟. 

This is in continuation to our earlier communication dated 03.07.2014 and 05.07.2014 on the above subject. We regret to inform your good self that till date no action has been taken by the Head Office. Shri AK Gupta has been given comfortable posting. He has been posted at FGMO: Lucknow. It is also mentioned that earlier he had worked as Chief Manager at BO: Mahanagar Lucknow and he has been posted at the same station as DGM. This is a reward posting for him. Now as a matter of his posting as Dy. General Manager in FGMO: Lucknow he will work as Disciplinary Authority for large number of officers posted under the command area of FGMO: Lucknow.

This cruel DGM with inhumane approach now will decide the fate of large number of officers. He has given official license to play with the lives / career of other large number of officers. Kindly analyse, is it a punishment or privilege? We have already mentioned in my earlier communications regarding the working of HRD Division at Head Office.
  
We appreciate the concern of your good self, reflected in your condolence message dated 05.07.2014 on the demise of Shri Ajay Sehgal. But the record of HRD Division shows that Shri Sehgal as Chief Manager of BO: Sector-20 Chandigarh, whereas he was actually posted at BO: Sector-20 Panchkula – Haryana. It shows the casual approach of HRD Division for such a serious matter. 

We strongly demand: - 

- Immediate Suspension of Culprits; - All Review / Business Meetings should be audio / visually recorded from now onwards through written communication by Head Office; - Suitable effective steps by Head Office for non-recurrence of such incidents in future; Beside, suitable compensation to be given the family of Shri Ajay Sehgal and an exemplary action be taken against the abettors of suicide so that such incidents should not reoccur.   

Sir, in case the action is not taken by the management on our above demands our next agitation programme will be as under: - 

We will hold one day „Dharna‟ of our Office Bearers on 19.07.2014 in front of Head Office of Punjab National Bank at New Delhi and it is pertinent to mention that the family of Shri Ajay Sehgal will also participate the Dharna in case the culprits are not placed under suspension till that date and written communication is not issued to the effect that from now onwards all the Review / Business meetings will be covered audio / visually recorded; 
After that we will give a call for one day token strike all over the country.
 
Sir, we will continue our agitation against these atrocities till its logical end.  
The manner in which the enquiry is being conducted by GM-HRD at Chandigarh raises suspicion. GM-HRD visited BO: Sector-20 Panchkula today in the morning hours alongwith new FGM and new Circle Head Chandigarh. In our opinion the staff, which is already shaken up mentally at the brutal incident, will not muster courage to speak in a frank manner before a posse of senior bank officials.

Moreover, the FGM and Circle Head having joined only a day before are as unknown to the staff as GM–HRD. It would have been better that She should have visited with someone from the HRD Department at Circle Office or any of the Chief Managers and should have tried to find the truth. This tantamount to putting psychological fear on the staff and gather the information which may suit the Head Office requirement to safeguard the interest of the concerned executives. Under these circumstances everybody cannot dare to speak the truth which is against the seniors. How the Head office is shielding these executives is a well-known fact now and their prized postings instead of suspension speaks volumes of that. 

We feel that good sense will prevail and the real culprits will be punished by the bank suitably. It is a brutal murder and the lesson must be given to the culprits.
 
Sir, we request your goodself to take appropriate action at the earliest to restore the lost confidence of the employees. 

Thanking you,

Yours sincerely,

TR Verma General Secretary” 

This is for your information please. 

It is high time for the Officers’ to introspect their continuing with the Majority Association who don’t lose even a moment to compromise your interests. Please join us for the safeguard of your own interests. We have a track record of working in a selfless manner and never back out once a justified mission is undertaken. Your decision at this crucial juncture will go a long way for a safe future. 
For a greener planet, please don't print this unless necessary 



AIPNBOF Cir No. 41 dt. 07.07.2014


All INDIA PUNJAB NATIONAL BANK OFFICERS’ FEDERATION (AFFILIATED TO AIBOA)
Central Office: FLAT NO. 01, GH-25, SECTOR-20, PANCHKULA Haryana – 134116. PHONE: 0172- 4630090; Mobile: 98155-66990; E-mail: vermatr@gmail.com Cir. No.  41/2014  Date: 07.07.2014 (For Internal Circulation only)

TO All Office Bearers / CC Members / State Units / Members: 6th Installment 
Has our Bank becomes  a dreaded and lethal organisation 

Dear Comrades, 

In the series of our agitation on the suicide of Shri Ajay Sehgal BO: Sector-20 Panchkula – Haryana, All India Punjab National Bank Officers‟ Federation is continuing its agitational programme till its logical end so that such incidences in our bank must on reoccur in future. 
Com. Dr. Kumar Arvind, President All India Punjab National Bank Officers‟ Federation addressed a communication to the CMD on 07.07.2014, the same is appended below:- 

ALL INDIA PUNJAB NATIONAL BANK OFFICERS’ FEDERATION (AFFILATED to AIBOA)

President’s Office : 103, Nilambar Apartment,                        
E. Boring Canal Road, Patna – 800 001             
 MOBILE NO-09431449784; 07763802110 

Date: 07.07.2014 

Dear Sir, 

Reg: Has our bank become a dreaded and lethal organization?

With an overwhelming sense of grief and agony, we have received the shocking news of the tragic demise of Late Shri A.K. Sehgal, Chief Manager (Incumbent), BO: Panchkula S-20 (RLB), who committed suicide following the reprimand and humiliation reportedly received by him from the Circle Head, Chandigarh & the FGM, Chandigarh, leaving behind him a lengthy suicide note and his helpless and bewildered family. Though, the local police is understandably in the process of taking suitable criminal action against the abettors of suicide as per the provisions laid down under the Indian jurisprudence, the bank management has found it convenient to transfer the Circle Head, Chandigarh & the FGM, Chandigarh.

It sounds unjustified that the perpetrators of such grievous and heinous crime as snatching the life of the only bread-earner of a family, which is a non-bailable offense under Indian legal framework, be merely awarded a „transfer‟ in the name of punishment. At least, they should have been placed under suspension, pending the investigation by the law-enforcing agencies and the enquiry, if any, considered necessary by the bank management. 

It was not long ago, when under similar situations, Late Shri S.S. Sinha, the then Chief Manager (Incumbent), BO: Tamluk (under Midnapore Circle) had to lay down his life in a severe cardiac arrest, following his reprimand and humiliation by the then Circle Head, Midnapore & the FGM, Kolkata in a Managers‟ meeting. As usual, this sensational news also settled soon, without raising our management‟s eyebrows and without the initiation of necessary corrective measures by them for ensuring non-recurrence such ugly incidents in future. The resultant? Such incidents went on occurring again and again.
     
We are saddened by our firm belief that such incidents occurring at almost regular intervals are never perceived as eye-openers by our management and no corrective actions are being taken by them to stop their recurrence in future. Today, our bank management often reminds us of the harrowing saga of the “ British Raj ”, when the repressive feudal Kings & Landlords went on inflicting inhuman and dastardly atrocities on poor Indian peasants for collecting their revenues ( Lagaan ), thoroughly unmindful of their sufferings. In somewhat similar fashion, most of our Circle Heads & FGMs, in the name of the so-called „monitoring‟, go on inflicting cruelty and inhuman treatments on poor incumbents, with the sole motive of shaping their own careers, entirely indifferent towards solving the genuine problems at the grass-roots level. It, therefore, propels us to think - “Is our bank being converted into a dreaded, insidious and lethal organization?” 


It is, therefore, high time for all of us, including the highest echelons of management, to at least go into a retrospection mode to judge whether even such repressive and atrocious measures adopted by most of our Circle Heads & FGMs have yielded anything positive and meaningful for the bank. The following results are before us :- 

We have slipped down to 3rd position in total business volume, despite having attained the numero uno position for very long period. 
We are still lagging behind our March, 2014 business figures by nearly Rs. 32 thousand Crores.

People seeking VRS are on the rise.

In fact, most of our officers in general and the Incumbents Incharge in particular are just waiting for their children to settle, so that they can comfortably seek VRS.  A “Fear Psychosis” seems to have gripped the entire workforce. Incidents of untimely and premature deaths and occurrence of deadly diseases are on the rise.

PNB has gradually been converting into a “Top-heavy” organization and it often gives the look of a pyramid upside-down. It seems that shepherds have been gradually outnumbering the sheep. “Monitoring” is on the rise while the “Problem-solving” and redressing of genuine grievances has been put on the back burner. 

 All forms of accountability - be it achievement of business targets, house- keeping, ambience or security - have been fixed on a single head, the Incumbent Incharge of a branch. No other branch personnel is accountable to any extent for any aspect. No monitoring is being done to ensure that all segments of workforce, more particularly the Award Staff, are also held accountable for any omissions and commissions. There is none to see whether the poor branch head has been provided with sufficient working hands, whether the working hands are worth their respective designations, whether the branch ambience or infrastructure is proper, and so on.

 There is almost none to hear the problems or woes of the BM. No heed is being paid by most of the Circle Heads & FGMs to hear the genuine problems and grievances of the Incumbents Incharge, leave aside solving them. Resultantly, most of our Incumbents Incharge have been converted into a bewildered, bemused and frustrated lot, who are destined to bear the brunt of almost everything. Management is quite comfortable with finding the head of the hapless BM for „hanging‟, in case of any lapse on the part of the branch. No wonder then, the present day BM is under extreme stress and duress, which gradually eat up his life and health.   

Today, when all growing organizations of the world continue to pursue the modern theories of HRD and Management and have been trying their level best to make them more and more employee-friendly, we go on following the “Stone Age” management tactics of repression, atrocities, witch-hunting and often barbarism. What kind of management and monitoring is this?  

Now, the final questions arise - “When the measures enumerated here above are yielding nothing good either to the organization or the individuals (the workforce), what is the fun in continuing them?” “Are we so stubborn or obstinate that we cannot mend our ways even if the organization continues to suffer?” Else, “Are our draconian management tactics so dear to us that we have chosen to close all our windows and doors to deny the entry of the fresh air of modern management theories?” 

It is not that we have not shown our concerns on the above aspects. On umpteen occasions in the past, we have suggested measures to overcome the problems plaguing the bank. But, these suggestions haven‟t been given the due attention, leave aside implementing them. We are of the concerted opinion that this bank not only belongs to the highest echelons of management, but also to the entire rank and file working at various tiers of this organization.

But we also understand that unless the management shows its concern towards the problems, our suggestions have no meaning. Gems and jewellery carry no value unless the jewellers value them. We have been keeping a close watch on the situation and the steps, if any, being taken or contemplated by the management and we will respond effectively  and forcefully to the same at an opportune moment. For now, we would like to inform you that so many things have gone terribly wrong with our coveted bank and its sordid state of affairs requires immediate improvement. It is, therefore, high time for all of us to huddle together to find ways and means to put our entire house in order before it is too late and the damages caused to the bank become irreparable. 

With profound regards,    
  
Yours sincerely,
(Dr. Kumar Arvind) PRESIDENT



Shri K. R. Kamath Chairman & Managing Director Punjab National Bank Head Office 7, Bhikaiji Cama Place, New Delhi


This is for your information please. 
Thanking you, 
Yours sincerely, 
TR Verma General Secretary 


All are requested to join us and strengthen your own hands and desist from the FATAL ATTRACTIONS to the Majority Association who are very cleverly jeopardizing your interests. Your decision is going to impact your future. 
For a greener planet, please don't print this unless necessary


Monday, July 7, 2014

Inhumane Treatment With Officers

Jago, Jago Bank Officers, Jago ab to Jago. For sake of money or power do not sell your self respect and do not spoil future of your family by sitting 12 hours in bank just to please your bossPlease for God sake - Do Not kill your conscience .

Money is not important more than your health and that of your respect and dignity. Pl Note that since officers are not united and since they  become victim of post and promotion, they have lost their unity and militancy and hence heir Bipartite settlement for wage revision is always delayed.

Almost all Officers (barring some exceptional hard-core flatterers ) are facing same torturous and intolerable situation in almost all public sector banks. But they are silent spectator of all injustice and inhumanity meted out to them .  Why?

It is only because they feel themselves as isolated and they do not get protection from their flatterer colleagues. They do not get support from even their union leaders.

Those who get untimely and quicker  promotion or who get rid of punishment for their misdeeds become fan of union leaders and become number one flatterer of their immediate bosses and remain ready for all exploitation in greed of money or post. Such officers appears to be colleague but actually  they may stab their friends whenever  their self interest is concerned. 

Sooner or the later , all officers become victim of inhumane treatment and this they realise when their family suffer and when they themselves are humiliated in meeting or before their colleagues or when they are rejected in promotion process and some inferior and non-performer or evil performer supersedes him.

I therefore salute Mr. T. K. Verma of PNB who has boldly protested inhumane treatment by top officials with officer colleagues . I hope leaders of other banks will sooner follow the task. For your perusal , letter written by Mr. Verma to top officials of PNB is reproduced below



All INDIA PUNJAB NATIONAL BANK OFFICERS’ FEDERATION (AFFILIATED TO AIBOA)

Central Office: FLAT NO. 01, GH-25, SECTOR-20, PANCHKULA Haryana – 134116. PHONE: 0172- 4630090; Mobile: 98155-66990; E-mail: vermatr@gmail.com Cir. No.  40/2014 

Date: 05.07.2014 (For Internal Circulation only)

TO All Office Bearers / CC Members / State Units / Members: 5th Installment 

Grossly Misuse of office – Abuse of Power BY Circle Head Chandigarh – An Inhumane Act

Dear Comrades, 

The episode of suicide of Shri Ajay Sehgal Chief Manager BO: Sector-20 Panchkula – Haryana has sent a shockwave amongst the members of staff as well as the general public. Right from the time of the sad incident, we have been actively taken up the matter with the bank authorities expressing anguish and demanding strict action against the accused executives. 

Top Management of the bank has resorted to eyewash to befool the employees. Instead of suspension, both these executives have been transferred from Chandigarh. Transfer is NO punishment. Is it a transfer or letting the guilty persons go free?  Shri AK Gupta got a gift of comfortable posting near to his own residence. We want a strict action to stop such atrocities in future and we demand immediate suspension. Such an act on the part of the Head Office proves beyond doubt that all the executives are a well-protected species under the patronage of the Top Management. All the acts of highhandedness and harassing the staff has the sanction of the Top Management. 

With the guilty persons going free and having been benefitted, will cause significant psychological distress among employees and the aggrieved family. The Top Management has defied the legal procedures by giving a safe outlet to the persons absconding to avoid their arrest. By doing so, the Bank Management has justified their misdeeds as is being done in the past as well.  

We demand immediate suspension of the culprits and strict action by the top management. We also demand that the atrocities be stopped forthwith. In future and from now onwards all such meetings addressed by the senior functionaries be covered by video / audio so that in case of any foul play they are exposed. 

Comrades, we will continue our fight till logical end and take organisation action including Dharna in front of Head Office and also one day token STRIKE in case no suitable action is taken by the top management. We inform the Bank Management that enough is enough. Humiliation by the field functionaries will not be tolerated anymore. We will resort to all sorts of action to safeguard our fellows from the atrocities committed by the Management which they have started to take as their birthright. 

We are appending below the copy of letter addressed to the Chairman & Managing Director on today. The text of the letter is as under: - 


“Date: 05.07.2014 

The Chairman and Managing Director,

 Punjab National Bank, Head Office,
7, BhikhaijiCama Place,
 New Delhi – 110066. 

Respected Sir, 

Reg:  Abusive bosses and indifferent Top Management: Ever increasing misuse of power, Use of abusive / derogatory / threatening language by Senior Executives of the Bank under the regime of your goodself; culminating into the fatal incident at Chandigarh – ‘SAVE PNB’.
 
This is in continuation to our earlier communication dated 03.07.2014 on the above subject. We further regret to inform your good self that till date no action has been taken by the Head Office.Transfer is NO punishment. We want a strict action to stop such atrocities in future and we demand immediate suspension. Shri AK Gupta has been gifted a comfortable posting near to his own residence. Withtheguilty persons going free and having been benefitted, will cause significant psychological distress amongemployees and the aggrieved family. The Top Management has defied the legal procedures by giving a safe outlet to the persons absconding to avoid their arrest.By doing so, the Bank Management has justified their misdeeds as is being done in the past as well. This is injustice and we will continue our agitation to logical end. What a justice by the Top Management. The culprit must be taken to task and placed under immediate suspension. The statement of your good self in the press at the outset, without examining facts, (News Paper page attached; DainikBhaskar dated 04 July 2014) has stirred up the resentment amongst the employees. We have no moral courage to face the affected family. 

 
Sir, it is brutal murder of a poor officer for whom compelling circumstances were created to commit suicide. This is also evident from his suicide note. It a matter of introspection for all of us that how our bank is not performing well. A non- performer senior officer is victimizing the non-performer junior officer, which is very surprising. It is a matter of fact that our bank as a whole hassadly slide down as a non-performer during the last few years and the Circle Head Chandigarh himself is also non-performer. He has come up true to his track record as a failure. His business as on quarter ending June 30 2014 is much below the business as on 31st March 2014. Then how an individual poor officer can be targeted for his low performance without analyzing himself. It is a surprising case of a non-performer harassing another non-performer. Shri Sehgal was a laborious, hard worker and honest officer of the bank. 


Sir, it is not a case of Chandigarh Circle only, it is happening everywhere that language of Authorities of PNB has become derogatory and the officers posted under them are treated as slaves. Please recall my various communications, ever since your good self’s joining the bank, bringing to your kind notice various such issues immediately on their occurrence. Even the Top Management functionaries of the rank of Executive Directors contributed to the band wagon of such unbecoming executives. We regret that despite of our direct communications to your good self and even a few meetings on these issues (official records will speak for the same) noseriousness was shown about resolving these issues. Needless to say, it reflects a callous attitude and a lack of respect for such revelations which are in the interest of the bank and the employees at large. When the top officials fail to help resolve such sensitive issues, it sends out the message that the Management is unconcerned with the plight of their workforce. 


The highhandedness of the senior executives is prevalent since quite some time and the Top Management has had been a silent spectator thereby indicating their implied consent to torture the staff. To quote one extreme incident, on 30.09.2011 one Chief Manager Shri BB Premi was slapped by Shri VK Khanna, the then Field General Manager Delhi. Then no action has been taken by the management and only the then FGM was transferred. Then on 09.02.2012 in a Managers’ Meeting at Diga (West Bengal) another Chief Manager became the victim of inhumane attitude of the then FGM Kolkata and the then Circle Head Midnapore. The victim got massive heart attack and lost his life. The bank authorities never changed their inhumane attitude and the poor officers posted in the field are suffering. These are a few extreme incidents but the list of ongoing day-to-day injustices and atrocities is long. 


To lodge protest is our right and we will protest for such ills for their logical end. This is our beloved institute and we have concern for our bank as well as our fellow colleagues. The Bank’s staff feels alienated and left on the mercy of the arrogant seniors. 

It is also not out of place to mention here that for the last two years there is shortage of Senior Managers (MMG Scale-III Officers) and officers in our bank to the extent of more than two thousands. No efforts are being made by bank to fill the gaps and still bank is opening new branches with lesser staff compelling BMs to sit on the counter many times. Huge attrition of staff but still no advance planning. Management Trainees joins branches after the year for which they are recruited. 


Pricing of banks product not in line with market other banks deposit is priced lower and credit higher. Window dressers are rewarded and encouraged by authorities at different levels. Unrealistic budgeting not in line with economic growth of the country. Incompetent and dishonest persons are promoted and are actually running the show and performers are sidelined / in LODI.We demand that all review /business meeting should be audio / visually recorded invariably from now onwards. 


Our worthy ED Shri Gauri Shankar addressed a meeting of Incumbents of the rank of Asstt. General Manager and above in Delhi a few months back. He humiliated badly one of the AGM Incumbent and said ultimate torturous language in front of his number of colleagues present in the meeting “I will make you stand on the bench”.Kindly analyse the state of affairs of the mind of that AGM. The managers’ meetings in our bank are being conducted like torture cell of Police for hardcore criminals.


 Sir, such like incidences create circumstances to commit suicide. When we agitate against such incidences then we are called irresponsible officers who don’t care for the bank.  

Sir, to lodge protest is our right and we will continue to protest for such ills for their logical end. This is our beloved institute and we have concern for our bank as well as our fellow colleagues. The Bank’s staff feels alienated and left on the mercy of the arrogant seniors. The decision of your good self for such atrocities is always the same i.e. the transfer only and the seniors forgets everything on next day. 


We also inform the other abrasions of HRD Division at the head office in placements and postings in some combinations against the spirit of the vigilance guidelines. After the posting of FGM at Chandigarh an AGM was posted in his office which belongs to his native place from Punjab i.e. Kapurthala. Then Chief Manager Retail Hub Chandigarh was posted he is again from Kapurthala. Immediately after, Shri AK Gupta Dy. General Manager was posted as Circle Head Chandigarh who was also working previously at Patna with the FGM as his 2nd man. This is not the end. One Chief Manager, who was also working in Patna with the Circle Head Chandigarh,had been posted at CO: Chandigarh. Even for the post of LDM Chandigarh, an officer, who was also working with the Circle Head during his posting at Kanpur, was found most suitable. Why these permutations and combinations? Perhaps these combinations gave strength to the Circle Head for his daring step to humiliate the poor Chief Manager continuously. 

Thus, flouting all the norms and vigilance guidelines, a caucus of old associates was reassembled at Chandigarh by the General Manager HRD. What does this indicates? Is this not a big question mark (?) on the autocratic working of the General Manager HRD at Head Office and her designs to rearrange such questionable groups time and again. This is only one example. When a thorough enquiry into the functioning and motives of GM – HRD is undertaken, many such nexuses may be unearthed thereby raising doubts about the motives of the GM- HRD. Not only this, she is also playing a role of guardian of number of field functionaries with tainted background. There are so many things which are to be exposed and come to light in due course of time. How the position of this beautiful bank has been allowed to worsen during last 4-5 years. Postings and placements play a vital role in the performance of the bank and our HRD Division has miserably failed to place the senior officers properly and rather more successful in placing the old combination teams which raises doubts of all sorts.Sir, it is not possible that such nexuses are being created at her ownand she is confident that there is nobody to raise any question on her working.
 
It is a fact that abusive bosses and unhealthy Management harm both; employees and business success. No progress can be made with hunter, coercion and inhuman attitude. It is high time to come out of such a dysfunctional behaviour and motivate the staff and restore their shaken confidence in the Management. 

 
We may bring to your kind notice one more recentexample of the arrogance of our Circle Head Shri AK Gupta which reflects his arrogant behaviour. One Chief Manager at BO: RCC Chandigarh was also declared as misfit for the branch. It is a matter of shame that one Senior Manager was posted at the branch and the Chief Manager was advised to work under him. Recently on the recommendations of the Circle Head Chandigarh he was posted at Rohtak against all humane considerations. His wife is a chronic patient of cancer. He virtually begged that his wife is a cancer patient (posted in our bank at Panchkula in clerical cadre) and nobody is there in the family to take care her. He was straight way told, “It is your problem”. Is this not the inhumane approach? How people are compelled to take drastic steps like committing suicide? Is this the realistic approach of a boss? Sir, HRD in our bank is a mockery of the system and in fact it is not existing at all in our bank, rather it is at the negative level. Under these circumstances we cannot dream of performance. 


Sir, now it is the time to take strict action. This incidence is a wakening call for the management in our bank. We request your good self to place under immediate suspension, the culprit and no legal expenses and leave etc be sanctioned as a criminal case has been registered. Escaping from police arrest is no excuse for getting leave sanctioned officially from the bank rather it is a helping attitude to evade arrest. We demand that the case must be handed over to CBI for independent high level enquiry into the matter of suicide committed by Shri Ajay Sehgal Chief Manager so that justice be done to the aggrieved family. 


Sir, our association is giving demonstration on all India level before all Circles and FGMOs on Monday, the 7th of July 2014 at 5:00 PM to protest against the brutal murder of Shri Ajay Sehgal Chief Manager and to urge upon the management that the guilty must be punished and a strict action may be taken immediately. It is the high time to raise voice to save PNB and not to watch the show as a silent spectator. We may resort to organisational action including to sit on Dharna before Head Office and also one day token STRIKE all over the country in case the strict action is not taken and atrocities are not stopped by the management. 

Thanking you, 
Yours sincerely, 
TR Verma General Secretary 


All are requested to join us and strengthen your own hands and desist from the FATAL ATTRACTIONS to the Majority Association who are very cleverly jeopardizing your interests. Your decision is going to impact your future. 

Wednesday, June 25, 2014

CBI CVC And Bank Officers

Finance Minister Arun Jaitley to meet PSU bank CEOs on June 10 -
Economic Times  ( See my opinion below)

MUMBAI: When B.K. Batra, deputy managing director of IDBI Bank was to be promoted chairman of a state-run bank, a Central Vigilance Commission note stalled it. What was his crime? He did not ensure due diligence on farmers in a loan sanctioned to a company that was in contract farming. 

Bankers know that nothing can be more flimsy than this because the same account is just a bad loan for every other bank. But no one is affected since no officer associated with it is due for a promotion.


The norms and style of functioning of the CVC not only harms officers, but also hurts institutions. United Bank of India which shocked the financial markets with record bad loans and saw the exit of chairman is headless for more than three months, thanks to CVCs dithering in clearing M.K. Jain, executive director at Punjab & Sind Bank for the job. 

State-run banks' worst fear is not bad loans, or an economic slowdown, but the fear of gumshoes who threaten careers unlike the politicians who just seek favours. When they meet the new Finance Minister Arun Jaitley on June 10, they would seek to end the terror of the CVC, additional capital, and level playing field with other financial intermediaries. No banker says that they should have a free run, but demand a reasonable approach. 

"CVC should give an employee or the officer a chance to present his case if they receive complains against him," said D. Sarkar, a life time banker and a former chairman and managing director at Union Bank of India "For small cases they should empower the board of concerned bank or form a committee comprising bankers to look into the matter. These will help in closing the CVC cases faster and boost confidence." 

The change of government may be among the best opportunity for the state-run banks to change the relation between the shareholder and the enterprise as government-owned banks have been treated as a ward of the state. 

About 9.2% of the banking systems loans are stress loans as on March 2013. This Rs 193,200 crores as bad loans another Rs 229013 crores are restructured loans, some of which may turn bad. To recover these loans they expect the government to set in order the debt recovery tribunals. 

Many of the tribunals are understaffed and defaulters exploit a system that has many legal loopholes even after the Reserve Bank of India has attempted to tighten the system. 

"More DRTs should be set up," said M.V. Tanksale, chief executive at Indian Banks' Association, the lobby group. 

Furthermore, banks weakened by the high bad loans, need capital to grow their business. It becomes imperative that they are adequately funded so that the economic recovery happens. 

According to RBI estimates state-run banks need Rs. 4 lakh crores of capital in the next three years to meet the regulatory norms which is known as Basel III rules, the central bank has forecast. The Government alone have to bring in Rs 12,000 crores if  it has to maintain controlling stake in banks. 

But given the weak government finances, the state man not be able to fund the banks which may lead to it reducing its stake in lenders which could also improve their autonomy. 

A panel appointed by the RBI under P.J. Nayak has recommended many measures including professionalising of the state-run banks and state owning less than 51%. 

"Government could provide more capital to banks since the banking sector is passing through a .. 

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Link Economic times


What I Feel is as follows:

Top Bankers want that government should not look into their corruption and stop CVC and CBI to make inquiries into their unfair deals in lending decisions. They mean to say that bad debts are rising not because they were negligent and ill-motivated in sanctioning loans , they mean to say that they are fully honest and did not indulge in bribe based lending and they mean to say that it is only due to interference of CVC , they lost enthusiasm to take decisions in loan proposals. 

Who will believe it? Only politicians who are shareholders in corruption can understand the pain of bankers and accept their hidden agenda.

Private banks are flourishing but pubic sector banks are contributing more and more Non Performing Assets . Still top officials of the PS banks are not ready to accept that their bad lending and bad monitoring have only resulted in accumulation of stressed assets..Yes there are other hurdles like legal constraints also which cause delay in recovery from willful defaulters. Yes it is also true that politicians are exploiting banks for their vested interest. But none can deny that corruption in banks at top level has polluted culture down the line in the same way as ministers have polluted culture in administrative system all over the country. 

Now when bankers are getting exposed, they are approaching Finance Minister to stop CVC and CBI making inquiry and investigation into actions and intentions of corrupt bankers.Thieves are asking police officers to shut their eyes when they act. 

I simply ask government of India and Finance Minister to order assessment of wealth of all CEOs and top ranked officers who have retired during last ten years .The finding of such assessment will make it crystal clear whether bankers indulged in corrupt practices or not. 

It will also make it clear whether CVC and CBI are real hurdles in the path of honest lending . It will also expose the bad intentions of politicians who ruled over banks during last ten to twenty years. It will make it clear how bankers and politicians together raped honest and talented officers in the name of merit oriented recruitment and promotion policies.

Not to speak of CEOs of bank, even assessment of top executives will tell how much deep rooted corrupt culture has damaged the fundamentals of banks and why honest officers are not getting elevated in public sector banks. Honest investigation of promotion process which took place during last ten to twenty years will tell how flatterers and bribe earners got promotions at the cost of good and devoted performers. 

Last but not the least if bankers are afraid of CVC and CBI and if they want to get rid of CVC and CBI inquiry , why  politicians and other administrative officers should face the inquiry from CVC and CBI when they are found indulged in corruption. It means the structure of CVC and CBI and all anti corruption bodies should be dismantled.Government of India after all cannot have discriminatory rules and laws.

Demand of time is to weed out corrupt officials to pave the way for honest workers  and devoted performers. For this purpose Government of India will have to ensure respect for honest performers and will have to remove discriminatory clauses in recruitment and promotion processes which empowers top officials to act as per their whims and fancies.Because it is only unregulated powers to top officials which has made officers corrupt and which has resulted in a culture which promotes only flattery and bribery .Government of India will have to make laws strict and nondiscriminatory so that honest officers like Ashok Khemka are not bought to task .


It is also true that in some stray cases good officers are also trapped on flimsy ground and denied their right in promotion.But it does not mean that all cases of corruption should be out of lens of CBI and CVC. After all it is public money which bankers are supposed to protect and hence they cannot be absolved of their responsibility only because of credit growth target they have to achieve.

Yes it is desirable that honest officers are not trapped on flimsy ground  by mischievous politicians and or mischievous CVC or officials of CBI. This is why I reiterate that rules and policies should be such which is more and more transparent and which does not permit corrupt officers to act as per his or her whims and caprices.We have to devise such methods which gives more justice to honest workers and which weed out dishonest officers to the best extent possible. We do not dream of ideally full proof system , but can dream of best possible system to ensure reign of justice