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| Why bank employees in India demand for Salary Hike? | | | Vinod Chandrashekhar Dixit | 8/28/2019 10:25:26 PM |
| Bankers today say "We are all working for salaries and we are not doing any charitable work. What we require is decent payment for the work we are doing." We all are aware that now-a-days banking industry is increasing with challenges and risk. The banking industry in India witnessed sea-change through nationalization of banks in the years 1969 and 1980 with the sole aim of promoting small savings for self-sufficiency and for utilizing the banks as catalytic agents for economic growth. AIBOA opposes the move to merge nationalized banks as the merger would result in reducing staff size and number of branches of associate banks in the name of rationalization of operations.
Trade unions in all state-run banks, in the past, have acted as a powerful corrective force against the excesses by bank managements. One cannot ignore the fact that the trade unions continue to be a formidable force in nationalized banks. During last seven decades Bank Employees had fought many Battles - but have not lost in a single one. They have won in each and every battle. Their strength is their unity among rank and file. Supporting this strike call. No doubt, the merger exercise has already been set in motion and it is reckoned to be a matter of time before the process is completed; the employees are making a last-ditch effort to stall it.
PSBs have an important development role. The current management of most PSBs is as good as that of private banks. In fact, it is the level of NPAs which to a great extent differentiate between a good and a bad bank. In fact high level of NPAs in Indian banks is nothing but a reflection of the state of health of the industry and trade. Comparing the performance of PSBs and private sector banks at a time when PSBs are weighed down by the problems of the economy at large is no fare. It would be more appropriate to compare performance over a longer period. Privatization of Banks will worsen the Banking scenario in the country .It is terrible that the Indian banking industry, considered to be one of the strongest in the world has now to face the problem of NPA because of willful defaulters and political pressure. It is certainly not fair to blame banks for lending huge amounts to Vijay Mallya despite his failing business. Political interference in decision-making in public sector banks is the root cause of the NPA mess. As far as publishing the list of defaulters is concerned, bringing such details under the purview of the Right to Information Act is a more viable option. A wide range of academic studies points to a trend towards convergence in performance of PSBs and private banks since banking sector reforms were set in motion in 1993-'94.
The functioning of PSB has been criticized by those who want complete privatization of PSB. No doubt privatization of banks will lead to the profit driven approach for short time but on that path would it be possible to implement financial inclusion and other Government schemes which is one of the top agenda of RBI? Indeed bank employees are paid lower than many other central and state govt jobs. Current salary of a newly joining Probationary Officer is more or less same as a 2800 grade pay central govt jobs where as PO job is an officer level job and a 4600 grade pay job is a clerical job for the government. Here, my point is that the wages of PSU bank employees which were once perceived as quite high, have over the years evened out, and no longer hold the same allure or attraction of those heady days.
Bank Officers carry on with the business continuously despite the presence of so many demotivating factors encountered in making credit decisions in order to keep the Industry vibrating. The pulls and pressures on the officers working in branches and at the Top Management is a well known phenomenon. The bank employees particularly the officers who are giving their blood and sweat to ensure that all plans and agenda of the government are pushed through with honesty and commitments, despite all adversities. Bank staff is one of the most work-loaded and least corrupt work forces. The government's policies are aimed at weakening the basic structure of banks which have withstood the turbulent economic situation mainly due to the concept of nationalization.
Our PM Narendra Modi also thanked all banks employees for going the extra mile to ensure that the implementation of the demonetization scheme was on track. There is no doubt that all bank employees deserves a big applause for working from morning to till late hours for the benefit of customers in the exchange of high denominations, collection of deposits and other regular banking transactions. Our PM also stated that "The amount of work which bank employees normally have to put in over a year, they have worked more than that in the last one week alone". Bank employees really need salutations since they are working longer periods with tiredness visible on them. They face the people's wrath for not providing smaller denomination notes - but they are helpless since these notes are not supplied by planners. In case of bank officers, there are no specific timings for their working and many a time, their work stretches from 9 to 10 hours every day.
It is observed that the moment bank opens the door; people rush in like a herd of bulls. They push each other to move ahead and shout at bank employees for not letting them in immediately. If bank do not follow an organized system, the entire branch may fall into chaos.
Bank employees, logistics and support staff are doing their best, putting in a lot of effort and working tirelessly to bring back normalcy as quick as possible. Banks are the backbone of the national economy. Next to Army, they carry out their best service to minimize the stress of anguished public. All praise to bank employees is always ready to face any critical issue in the interest of nation, right from their placement, away from home/children etc
The public sector bank employees do seem to have risen to the occasion and by and large have been doing a really commendable job under difficult circumstances. There is no doubt that bankers have always performed the task given by the Government right from the time of nationalization. Bankers have always in the past stood like a rock and supported the Govt move and made the Govt scheme successful in its drive. Bankers need good reward for its work.
Here I would like to point out that by and large, a bank employee/officer never gets his due given the quantum of workload and financial risk when compared to his counterpart in any other public sector/central government department. It is very easy for people outside the industry to pass comments. It must be remembered that the bank employees are known for their contribution in building the Indian Economy.
Bank employees, logistics and support staff are doing their best, putting in a lot of effort and working tirelessly to bring back normalcy as quick as possible. Banks are the backbone of the national economy. Next to Army, they carry out their best service to minimize the stress of anguished public. All praise to bank employees is always ready to face any critical issue in the interest of nation, right from their placement, away from home/children etc
The public sector bank employees do seem to have risen to the occasion and by and large have been doing a really commendable job under difficult circumstances. There is no doubt that bankers have always performed the task given by the Government right from the time of nationalization. Bankers have always in the past stood like a rock and supported the Govt move and made the Govt scheme successful in its drive. Bankers need good reward for its work. |
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