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

Monday, September 15, 2014

General insurance wage talks ; many ready to join New Pension Scheme

Ahead of the second round of wage negotiations beginning tomorrow in New Delhi, state-owned general insurers have written to the government expressing the readiness of a section of their employees to join the new pension scheme which they had rejected twice in the past.

"We have written to the government on the NPS issue, and sought its approval," New India Assurance Chairman-cum Managing Director G Srinivasan, who is also the Chairman of the General Insurance (Public Sector) Association (GIPSA), which is holding the wage talks, told PTI.

The four public sector non-life insurers have around 70,000 employees, of which around 50,000 had already moved on to the New Pension Scheme (NPS).
Around 20,000 employees, working at the four state-owned general insurance firms, will be benefited in case the third option of pension is offered to them as they did not opt for it when the second pension scheme was offered to them falling in line with the banking industry in 2008, he said.
The Monday's wage negotiations will be the second round on the issue, as the first round had already taken place earlier during the year.
All the heads of the four state-owned general insurance companies are likely to attend the meeting which will be held by the GIPSA.

The unions are seeking a hefty 40 per cent hike in net salary and if allowed it will benefit 70,000 employees.
"Majority employees of PSU general insurance firms had not opted for it when the option for pension was offered to them for two times in past as the interest rate on deposit was comparatively high with the banks those days," Bharatiya Veema Karamachari Sena (BVKS) general secretary Prasad Samant said.
"In fact, when the new pension option was offered to us for the second time, we were not given enough time to give our consent and hence a majority of us opted out and hence we want it now," BVKS working president Amrish Sinha said.

Courtesy: Economic Times _ 14092014


Wednesday, September 10, 2014

Performance-link incentives for bank staff under PMJHY likely

The government may offer performance based incentives to banks under the Jan Dhan Yojana which will depend on parameters like the number of accounts opened, the number of households covered, camps conducted and house to house surveys being done by the bank staff.

Industry lobby group Indian Banks' Association (IBA) is engaged in giving a broad outline and conceptualising the incentive scheme. Bankers said that it is the government which will take the final call.

The Pradhan Mantri Jan Dhan Yojana announced by Prime Minister Narendra Modi on August 15 and was launched on August 28 envisages access to banking services to all the un-banked individuals in India. Under this scheme, 75 million people would be provided with a bank account and overdraftfacility of Rs 2000.

Further, they would be provided with a RuPay debit card and Rs 1 lakh accident insurance cover. Those opening an account before January 26, 2015 will also be entitled to avail of a life insurance cover of Rs 30,000.

Courtesy: Business Standard

Private bank chiefs can stay on in office till the age of 70

The Reserve Bank has ended the suspense on the age limit for private sector bank chief executives, bringing relief for investors in HDFC BankBSE -0.96 % and IndusInd Bank, who might have been worried about the fate of their rock star chiefs who have delivered enormous returns in the past few years. Full-time directors of private banks can now continue up to the age of 70, in line with the latest Companies Act.



The bank boards will, however, retain the right to set a lower retirement age for officials, said RBI on Tuesday. One consequence of RBI's clarification might be that second-rung leaders in some of these banks could begin to look for greener pastures as their leadership opportunities will diminish, with many current CEOs likely to continue at least for another five years.

Courtesy:ET

Monday, September 8, 2014

Consolidation among state-run banks

Consolidation among state-run banks is set to a get big push after the results for the quarter to September are declared, with the finance ministry nudging large public sector banks to look at possible combinations in this regard. 


The ministry is expected to soon hold a meeting with all state-run banks to discuss issues related to their operations, their contribution to the economy and coordination with other arms of the government.
 



The issue of consolidation will also be discussed at this meeting, a senior finance ministry official said, adding that any merger proposal will be evaluated on the parameters of pan-India presence, business and information technology integration. 

Courtesy: Economic Times

Friday, September 5, 2014


Wage Revision Talks

Next Round of Talks 
with IBA will be 
on 17th Septmber, 2014 

Saturday, August 30, 2014

Promotion Process 2014-15 - Release of empanalled candidates


Release of promotion of empanelled candidates S-III to S-IV, S-IV to S-V and S-V to S-VI
We are pleased to inform that our Central Office has released promotion orders for the empanelled officers, wef 01.09.2014, selected in the promotion processes held during 2014-15.
 
 We wish them all the best.

PROMOTION FROM SMG SCALE V TO TEG SCALE VI
Sr No
Name of the executive
PF No.
Present Placement
Posted to
1.
Mr P Salvatore
061469
RO SURAT
SRM,RO SURAT,ZO AHMEDABAD


PROMOTION FROM SMG SCALE-IV TO SMG SCALE V

Sr. No
Name
PF No.
Present Placement
Posted to
1
Mr.Binod Kumar Pandey
083071
ELB Kranti Chowk, Aurangabad,
ZO Pune
Branch Head, ELB
Kranti Chowk, Aurangabad,
ZO Pune
2
Mr.Anil Tripathi
040855
ELB HLCC, ZO Ahmedabad
Branch Head, ELB HLCC,
ZO Ahmedabad
3
Mr.Debabrata Mohanty
075946
ELB Karnal, ZO Chandigarh
Branch Head, ELB Karnal, ZO Chandigarh
4
Mr.Sunil Kumar Jha
075831
ELB Opera House, MMZO
Branch Head,ELB
Opera House, MMZO
5
Mr.Swadesh Chandra
072118
ELB Bandra-Kurla Complex, MMZO
Branch Head, ELB
Bandra-KurlaComplex, MMZO
6
Mr.Sridhar Sahoo
087324
ELB Barabazar, ZO Kolkata
Branch Head, ELB
Barabazar, ZO Kolkata

PROMOTION FROM MMG SCALE-III TO SMG SCALE IV
Sr. No
Name
PF No.
Present Placement
Posted to
1
Mr.Anil Gupta
91190
BO Nahan,ZO Chandigarh
BO Nahan,ZO Chandigarh
2
Mr.A V Durga Prasad
49655
CCPC Chennai
CCPC Chennai
3
Mr.AshokWadhwa
63530
Recovery Deptt.,CO
Recovery Deptt.,CO
4
Mr.RabindraNathDubey
83638
ZO Patna
ZO Patna
5
Mr.Sunil Kumar Jain
49704
BO Lohamandi,Agra
BO Lohamandi,Agra
6
Mr.PMuralidas
79078
BO Sembiam,ZO Chennai
BO Sembiam,ZO Chennai
7
Mr.RajivRanjanSinha
81314
BO Sidhapudur,ZO Chennai
BO Sidhapudur,ZO Chennai
8
Mr.Ashok Kumar Singh
53416
BO Lanka,Varanasi,ZOLucknow
BO Lanka, Varanasi,ZOLucknow
9
Mr.Ambar Kumar Kar
45526
BO Baranagar, Kolkata
BO Baranagar, Kolkata
10
Mr.Bhamidipati Shish Giri
57335
BO Karur,Chennai
BO Karur,Chennai
11
Mr.BKesavaRao
64057
MCB, Vijayawada,ZO Hyderabad
MCB, Vijayawada,ZO Hyderabad
12
Mr.J B Adhikari
55259
RO Siliguri,ZO Kolkata
RO Siliguri,ZO Kolkata
13
Mr.Ganesh Ram Meena
47773
BO Tallakulam,Madurai,ZO Chennai
BO Tallakulam, Madurai,ZO Chennai
14
Mr.Raj Kumar Tripathi
56846
LBO Bhopal
LBO Bhopal
15
Mr.PJegannathan
42452
BO PeeniyaInd.Area,ZO Hyderabad
BO PeeniyaInd.Area,ZO Hyderabad
16
Mr.BasantLal
44963
ATM Cell,CO
ATM Cell,CO