::::: CBOA TAMIL NADU WISHES ALL THE PROMOTEES ::::: ::::: Central Bank of India Q1 profit jumps 9 times to Rs 192 cr :::::

Wednesday, August 20, 2014

NEW CHAIRMAN FOR IBA

The Indian Banks’ Association has elected TM Bhasin, Chairman and Managing Director of Indian Bank, as the Chairman of the Association for 2014-15. 

He was elected at the Association’s 67th annual general meeting. 

Prior to Bhasin, KR Kamath, CMD of Punjab National Bank, was the IBA Chairman. The AGM also elected three Deputy Chairpersons — Arun Kaul, CMD, UCO Bank; SL Bansal, CMD, Oriental Bank of Commerce, and Chanda Kochhar, MD & CEO, ICICI Bank — and an Honorary Secretary — Arundhati Bhattacharya, Chairman, State Bank of India.

RBI governor Raghuram Rajan reassures staff, reiterates need for restructuring

The Reserve Bank of India (RBI) governor,Raghuram Rajan, met trade union leaders on Tuesday, advocating lateral recruitment and creation of an additional deputy governor's post for the monetary policy, while trying to allay their fears on a few proposals. At a meeting attended by the top brass of the central bank - the United Forum of RBI Officers -the officials expressed their misgivings on Rajan's plans to restructure and reorganise the bank.

Monday, August 18, 2014

NEW GOVT DIRECTIVES TO PSBs on LADY EMPLYEE TRANSFER NORMS;HL TO STAFF AND COMPASSIONATE APPOINTMENTS

Employees at public sector banks (PSBs) have much to cheer, with the government announcing a series of feel-good steps. Women separated from their families will now get a preferential treatment in transfers, and next of kin of the employees who die in service will be provided employment on compassionate grounds.

The government has also asked the Indian Banks Association to include a board-approved employee home loan scheme as part of wage negotiations. The freedom to structure a favourable home loan scheme for employees will help banks deploy surplus funds and provide a boost to housing.
Preferential transfers will come as a relief to thousands of women bank employees, but the move could cause some operational upheaval in the short term.

In a circular to all banks, the department of financial services said that “female employees when placedtransferred away from their husband or parents to distant locations face a genuine hardship and develop a feeling of insecurity”.

It said that banks should as far as possible place or transfer a woman employee to a place where her husband is stationed or nearby. Similarly, unmarried women employees should be posted close to their parents’ place.

“PSBs are, therefore, advised to frame a policy on the subject with the approval of their board suitably incorporating the above and take immediate action for implementation and compliance.
Pending requests may be considered under these guidelines,” the circular said.

‘Compassionate employment’ or employment to children or spouses of the employees who die in service was discontinued after 200405. The finance ministry circular, addressed to the chairman of the Indian Banks Association, says that the government has approved the reintroduction of ‘compassionate appointment’ in public sector banks on the lines of the central government scheme with effect from August 5. It has discontinued the provision of ex-gratia payment in lieu of such appointments.

Courtesy:TOI


TOP LEVEL APPOINTMENTS IN PSBs - NEW NORMS TO BE FOLLOWED

Courtesy:TOI

Wednesday, August 13, 2014

PRIVATE BANK'S PAY TIPS THE SCALES

The world of finance in India is a study in contrast. The gulf between private and public sector banks has been widening on various parameters — growth, bad loans, profitability, service standards, product innovation and many more.

The most glaring difference between the two banking segments is in the compensation and incentive structure. Private sector bankers are paid astronomical sums, which they justify on grounds of profitability — performance determines pay. 



Now, there is a need for a change in state-owned banks' pay structure given that they handle as much resources, if not more, than their private peers. 

Courtesy: Economic Times