Senior bankers in PSBs are in firing line: AIBEA

By Venkatachari Jagannathan | 11 Nov 2024

1

In the guise of retiring inefficient senior employees in the public sector banks, the Indian government is interfering in the day to day affairs of the banks and threatening the job security of employees, said a top leader of the  All India Bank Employees’ Association (AIBEA).

He also said the government should look into the performance of the various departments and make them efficient rather than getting into the daily routine of PSBs which are Board run.

The Department of Financial Services under the Ministry of Finance has asked the Managing Directors of all the nationalized banks and the Chairman of State Bank of India (SBI) to review monthly the performance of senior employees and retire those who are found inefficient.

The Department of Financial Services has asked the banks to send a monthly report on this issue.

“The PSBs are run by the Board of Directors. The government can review the performance of the Managing Directors appointed by it. The latest move by the government will result in the misuse of power threatening the job safety net the bankers enjoy which is subject to the rules and regulations,” C.H.Venkatachalam, General Secretary said.

Venkatachalam said under the existing retirement rules, a committee can review the performance of an officer in PSB who is 55 years of age or more or has put in 30 years of service (for officers in SBI 50 years  of age or 25 years of completed service) and retire that employee in case of public interest.

In the case of a workmen (clerks and peons) in PSBs he/she can be retired on reaching 57 years of age (for workmen in SBI it is 58 years of age) and the efficiency was found to be impaired.

The Department of Financial Services has asked the PSBs to conduct periodic review under the existing rules and decide whether their senior employees are to be retained or retired and send a monthly report.

“The government should not ask for the monthly report. PSBs are Board run. The performance of the employees are reviewed regularly,” Venkatachalam said.

Venkatachalam said nearly 60 board seats remain vacant for the past ten years in PSBs.

“Does it not show the inefficiency of the appointing authority? Why not retire those who are responsible for this,” Venkatachalam said.

There are various provisions in the Bipartite Settlements/Awards/Officers Service Regulations to take action against any employee or officer wherever warranted. But the above directions from the Government are provocative and intimidatory.

Already employees in the PSB branches are working under undue pressure due to acute shortage of staff and non-recruitment of adequate staff in sub-staff and clerical cadres, Venkatachalam said.

Similarly officers are also working under stress. Work life-balance, five days banking and others are the cry of the day. Branch Managers also suffer from targeting by the higher management in the name of non-achievement of targets and non-performance.

The United Forum of Bank Unions (UFBU) in Maharashtra has given the call for strike on 16-11-2024 against the increasing instances of attacks on managers/officers/staff by customers, borrowers, public and political elements, Venkatachalam added.

According to him, PSBs have a total staff strength of eight lakh divided equally between Officers  and Workmen  cadres.

“About one lakh vacancies in the Workman cadre needs to be filled. Currently the banks are top heavy having a poor span of control,” Venkatachalam said.

Latest articles

RIL to invest Rs65,000 cr in 500 biogas plants in Andhra Pradesh

RIL to invest Rs65,000 cr in 500 biogas plants in Andhra Pradesh

DRDO lab develops silicone carbide wafers, gallium nitride transistors for MMICs

DRDO lab develops silicone carbide wafers, gallium nitride transistors for MMICs

IIT Madras – ISRO to set up Centre of Excellence for research in Fluid and Thermal Sciences

IIT Madras – ISRO to set up Centre of Excellence for research in Fluid and Thermal Sciences

LPG as automobile fuel a solution for Delhi NCR air pollution: IAC

LPG as automobile fuel a solution for Delhi NCR air pollution: IAC

Entry of Starlink and Kuiper could churn India’s telecom sector

Entry of Starlink and Kuiper could churn India’s telecom sector

India building Rs820-cr railway test track in Rajasthan

India building Rs820-cr railway test track in Rajasthan

Rupee falls to 84.37 a dollar as foreign funds withdraw over $2.37 bn from Indian stocks in five days

Rupee falls to 84.37 a dollar as foreign funds withdraw over $2.37 bn from Indian stocks in five days

New central scheme to facilitate guarantee-free loans for higher education

New central scheme to facilitate guarantee-free loans for higher education

Canada ends Student Direct Stream channel for student visas

Canada ends Student Direct Stream channel for student visas

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers