SBI Officers' Association84, Rajaji Salai, Chennai - 600 001.Phone : 044-25227170 / 25228773

Fax : 044 - 25261013 Web : www.sbioacc.com

E-mail : sbioacc@yahoo.com

SBIOA NEWS BULLETINSBIOA NEWS BULLETINSBIOA NEWS BULLETIN

SEPTEMBER 2014(For Internal Circulation only)

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SBIOA (CC) - ORGANISATIONAL ELECTIONS 2014-17th

The Organizational elections to elect Office bearers to the 26 Executive Committee of SBIOA(CC) was declared by the Executive Committee on 20/07/2014. Direct polling was held on 16/08/2014 at many centres

th th th stand on 19/08/2014 at Pondicherry. Remote branches were covered under mobile polling on 18 , 19 , 20 and 21 . Approximately 87% of our members voted despite the polling day, 16/08/2014 was in between two holidays. This shows the strong faith of the Members on the Association and their deep involvement to keep alive the democratic traditions of the Association. Counting of votes was taken up on 24/08/2014 at our Mercantile Plaza. Volunteers and members thronged the venue eager to participate in the counting process and know the results. First, the results for Zonal Secretaries were declared followed by the Regional Secretaries and Dy. Regional Secretaries and finally the Circle Office bearers. By 9.00 PM, the entire counting process was over and the results declared by the Election Committee Chairman, Com G Thangappan.It is a mammoth process that could be completed very smoothly by the Chairman, Election Committee, Com. G Thangappan, Asst Gen. Manager, LHO, Chennai and his team members Coms. J Mari Ayyah, Com. Sastha Selvaraj, Com S Ramesh, Com B Ravichandran, Com R Pugalendhi and Com S Mukundan of LHO, Chennai. They worked hard, often till early the next morning to see that the elections were completed without any hitch. SBIOA(CC) applauds the efforts of the comrades in enduring with the difficulties to ensure that the Association completes the democratic process, which is considered as the most vital part of a functioning body.

Election Committee members with the General Secretary

General Secretary addressing members in their Unit meeting at LHO,Chennai

Members listening to the General Secretary after declaration of results.

Members in the Unit Meeting addressed by General Secretary at LHO, Chennai on 120.9.2014

Members witnessing counting of votes at Mercantile Plaza

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Com. A Krishnan (9445000836) President

Com R Balaji (9445000809) Vice president

Com. D Thomas Franco Rajendra Dev (9445000806) General Secretary

Com. Senthi Kumar T (9445000838) Dy. General Secretary

Com. M Mohan (9445000807) Dy. General secretay

Com. P Vallikannan (9445000810) Dy. General Secretary

Com. P Shanmugam (9445000805) Dy. General Secretary

Com. K Rajaram (9445000830) Dy. General Secretary

Com. K Bavanisankar (9445000818) Treasurer

Com. V Sridhar (9445000801) Dy. Treasurer

Com. S S T Madhavraj (9445000814) Dy. Treasurer

The following are elected to Chennai Zone I,

Com. A V Joseph Regional Secretary(9445000817)

Com. S Prakash Dy. Regional Secretary(9445000820)

Com. P Mohan Dy. Regional Secretary(9445000813)

Com. J Ramesh Babu Dy. Regional Secretary(9445000811)

Com. M Sundararaman Zonal Secretary, (9445000819) Chennai Zone III

Com. J Ravikumar Zonal Secretary, (9445000804) Chennai Zone II

Com. G Thirumal Rao Zonal Secretary, (9445000816) Chennai Zone I

Com. S Sampath Kumar Zonal Secretary, (9445000822) Vellore Zone

Com. K Ramesh Zonal Secretary,(9444909862) Dharmapuri Zone

Com. G Sujit Deepak Zonal Secretary, (9445000823) Tiruvallur Zone

The following are elected to Chennai Zone II

Com. A Ravichandran Regional Secretary(9445000808)

Com. S Tamilventhan Dy. Regional Secretary(9445000815)

Com. J Jalendran Dy. Regional Secretary(9445000856)

Com. N Gunasegaran Dy. Regional Secretary(9445000857)

Com. K S Gowrisankar Zonal Secretary, (9445000859) Tiruvannamalai

Com. M Muralidharan Zonal Secretary, (9445000803) Chennai Zone I

Com. A Prajeesh Zonal Secretary, (9445000812) Chennai Zone II

Com. S Santhi Zonal Secretary, (9445000821) Kancheepuram

Com. A V Neelamegan Zonal Secretary, (9445000849) Cuddalore Zone

Com. G Mounissamy Zonal Secretary, (9444909863) Pondicherry

The following are elected to the Circle

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The following are elected to Coimbatore Module

Com G Selvaraj Regional Secretary(9445000827)

Com. C Balaji Dy. Regional Secretary(9445000834)

Com. A Periasamy Dy. Regional Secretary(9445000825)

Com. R Rajavelu Dy. Regional Secretary(9445000826)

Com. B Mohanan Zonal Secretary,(9445000829) Coimbatore Zone I

Com. V Vetrivelan Zonal Secretary, (9445000832) Coimbatore Zone II

Com. R Shanmugam Zonal Secretary, (9445000831) Udhagamandalam

Com SKP Kartheeswaran Zonal Secretary, (9444909861) Erode Zone

Com. S Sampath Kumar Zonal Secretary, (9445000828) Tirupur Zone

Com K Gunalan Sukirtharaj Zonal Secretary, (9445000833) Salem Zone

For Madurai Module, the following are elected:-

Com. R Sethu Regional Secretary(9445000839)

Com. J Stalin Dy. Regional Secretary(9445000837)

Com. P Nallaperumal Pillai Dy. Regional Secretary(9445000845)

Com. K Pitchai Dy. Regional Secretary(9445000841)

Com. M Sekar Zonal Secretary, (9445000840) Madurai Zone I

Com. A Senthil Ramesh Zonal Secretary, (9445000844) Madurai Zone II

Com. G Padmanabhan Thampi Zonal Secretary,(9445000802) Kanyakumari

Com. Ramnath Zonal Secretary, (9444909864) Tirunelveli Zone

Com. J Jeeva Zonal Secretary, (9445000842) Virudunagar Zone

Com. T Selvaraj Zonal Secretary,(9445000846) Dindigul Zone

The following are elected to Tiruchirapalli Module

Com. A Asok Regional secretary(9445000848)

Com. A Karunaharan Dy. Regional Secretary(9445000847)

Com. K Selvaraj Dy. Regional Secretary(9445000852)

Com. T Venkatramanan Dy. Regional Secretary(9445000853)

Com. V Jayasankar Zonal Secretary, (9445000851) Tanjore Zone

Com. C T Nagappan Zonal Secretary, (9445000850) Tiruchi Zone I

Com. S Pandian Zonal Secretary, (9445000854) Tiruchi Zone II

Com. N Sanjeevirajan Zonal Secretary, (9445000855) Nagapattinam Zone

Com. V Kani Zonal Secretary, (9445000843) Sivaganga Zone

Com K Naganathan Zonal Secretary, (9445865767) Pudukottai Zone

SPECIAL INVITEES TO THE EXECUTIVE COMMITTEEthThe Executive Committee of our Association met on the 14 August at Chennai and co-opted the following

members as Special Invitees to the Executive committee for the period 2014-2017.

1. Com. D Thirumurugan , Asst. Manager (S), LHO, Chennai (9445865863)

2. Com. H Masthan, Asst. Manager(S), AO, Chennai Zone II (9445395234)

3. Com. P Nithish A R Singh, Dy. Manager (S), AO, Madurai (9445860478)

4. Com. P Veeramani, Manager(S), AO, Chennai, Zone I (9444015811)

5. Com. S Vijaya, Assistant General Manager, (S) (9445860309)

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LADY REPRESENTATIVESThe Executive Committee also co-opted the following members as Lady Representatives for the triennial period 2014-17.1. Com. Manohari M, Dy. Manager, Woraiyur, Tiruchirapalli Module (9445000858)2. Com. Muthulakshmi P, Dy. Manager, SMECCC, Ambattur, Chennai Module I (9445860327)3. Com. Kalyani M, Dy. Manager, Narayanapuram, Madurai Module, (8754033070)4. Com. Jothi Parthiban, Dy. Manager, Perungudi, Chennai Module II, (9445861058)

SBOA EDUCATIONAL TRUSTThe Management Committee of SBOA Educational Trust nominated1. Com. R Balaji as the Associate Secretary of the Educational Trust2. Com. A Ravichandran as the Correspondent of SBOA Matriculation & Higher Sec. School, Chennai3. Com. A V Joseph as the Correspondent of SBOA Model Matriculation and Higher Sec. School, Chennai and4. Com. Senthi Kumar T as the Correspondent of SBOA School and Junior College, Chennai.

The following important decisions have been taken in the Executive Committee ON 25/08/2014.

Com. M. Mohan, DGS, presently the Co-Chairman of the housing project is nominated as the Chairman of the Housing Project.

The Housing Project Committee has been reconstituted with the following members.

1. Com. M. Mohan, DGS – Chairman (Mobile 9445000807)

2. Com. A. Krishnan, President – Member

3. Com. R. Balaji, Vice President – Member

4. Com. D. Thomas Franco Rajendra Dev, General Secretary – Member

5. Com. T. Senthi Kumar, DGS – Member

6. Com. P. Vallikannan, DGS – Member

7. Com. K. Rajaram, DGS- Member

8. Com. M. Shanmugam, DGS - Member

9. Com. K. Bavani Sankar, Treasurer – Member

10. Com. S.S.T. Madhavaraj, Dy. Treasurer – Member

11. Com. V. Sridhar, Dy. Treasurer – Member

12. Com. A.V. Joseph, Regional Secretary, Member

13. Com. A. Ravichandran, Regional Secretary, Member

14. Com. G. Selvaraj, Regional Secretary, Member

15. Com. R. Sethu, Regional Secretary, Member

16. Com. M. Asok, Regional Secretary, Member

17. Com. D. Suresh Kumar, CM, - Member

18. Com. Er. Veeramani, Member

19. Com. M. Pandiaraj, AGM – Member

20. Com. R. Raju, AGM - Member

The Housing Project Committee a/c will be operated by Com. P. Mohan, Chairman and General Secretary / Treasurer.

HOUSING PROJECT COMMITTEE

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In order to expedite financial inclusion, finance minister Arun Jaitley in his budget speech said " RBIwill create a framework for licensing small banksand other differentiated banks. Differentiated banks serving niche interests, local area banks, payment banksetc. are contemplated to meet credit and remittance needs of small businesses, unorganized sector, low income households, farmers and migrant work force."

Within a week of the budget, RBI issued draft guidelines for setting up small banks and payment banks. RBI in its guidelines said that both payment banks and small banks are 'niche' or differentiated banks, with the common objective of furthering financial inclusion.

Following are some of the conditions which are common to both the banks.

The minimum capital requirement would be Rs 100 crore.

Promoter contribution would be at least 40 per cent for the first five years. Excess shareholding should be brought down to 40 per cent by the end of fifth year, to 30 per cent by the end of 10th year and to 26 per cent in 12 years from the date of commencement of business.

Foreign shareholding in these banks will be as per current FDIpolicy

Voting rights to be in line with the existing guideline for private banks

Entities other than promoters will not be permitted to have shareholding in excess of 10 per cent.

The bank should comply with the corporate governance guidelines, including 'fit and proper' criteria for Directors as issued by RBI

Operations of the bank should be fully networked and technology driven from the beginning

Small Banks

The purpose of the small banks will be to provide a whole suite of basic banking products such as deposits and supply of credit, but in a limited area of operation.

The objective for these Small Banks is to increase financial inclusion by provision of savings vehicles to under-served and unserved sections of the population, supply of credit to small farmers, micro and small industries, and other unorganised

sector entities through high technology-low cost operations.

Resident individuals with 10 years of experience in banking and finance, companies and Societies will be eligible as promoters to set up small banks. NBFCs, micro finance institutions (MFIs), and Local Area Banks (LABs) can convert their operations into those of a small bank. Local focus and ability to serve smaller customers will be a key criterion in licensing such banks.

Branch expansion: For the initial three years, prior approval will be required.

The area of operations would normally be restricted to contiguous districts in a homogenous cluster of states of union territories so that the Small Bank has a 'local feel' and culture. However, if necessary, it would be allowed to expand its area of operations beyond contiguous districts in one or more states with reasonable geographical proximity.

The bank shall primarily undertake basic banking activities of accepting deposits and lending to small farmers, small businesses, micro and small industries, and unorganised sector entities. It cannot set up subsidiaries to undertake non-banking financial services activities. After the initial stabilisation period of five years, and after a review, the RBI may liberalise the scope of activities for Small Banks.

The promoters' other financial and non-financial services activities, if any, should be distinctly ring-fenced and not co-mingled with banking business.

A robust risk management framework is required and the banks would be subject to all prudential norms and RBI regulations that apply to existing commercial banks, including maintenance of CRR and SLR.

In view of concentration of area of operations, the Small Bank would need a diversified portfolio of loans, spread over it area of operations.

The maximum loan size and investment limit exposure to single/group borrowers/issuers would be restricted to 15 per cent of capital funds.

Loans and advances of up to Rs 25 lakhs, primarily to micro enterprises, should constitute at least 50 per cent of the loan portfolio.

BIG BANKS FOR BIG PEOPLE AND SMALL BANKS FOR SMALL PEOPLE

AIBOC has launched a campaign of writing to the Prime Minister to speed up a fair Xth Bipartite Settlement. The Draft letter is produced below:-Most respected Hon'ble Prime Minister Ji,On the onset, I would like to congratulate you in bringing about a turnaround in the functioning of Government within 100 days of your coming to power. This has revived our faith that our hopes and dreams may soon see light of the day with steps taken by you towards better governance. It indeed is a great pleasure and a moment of pride for me as an officer of a Public Sector Bank (PSB) that you have decided to entrust the job of garnering the accounts of unreachable to us when others were attempting to undermine the efficiency of the workforce of Public Sector Banks.Sensing the commitment of our Hon'ble Prime Minister to eradicate financial untouchability, we the employees/officers of PSBs wholeheartedly and voluntarily plunged into action unminding the holidays and extended working hours with the sole aim of fulfilling the pet project of our Prime Minister.We admire the confidence of our Prime Minister on the ability of PSB workforce that he reduced the targeted period to 5 months to open 7.5 crore accounts after our successful accomplishment of opening 1.5 crore accounts in one day. We would also like to add that:1. It is acknowledged and believed that prime focus of

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AIBOC'S CAMPAIGN FOR A FAIR AND SPEEDIER Xth BIPARTITE.

Bank Nationalisation was to bring parity in the society, poverty alleviation by uplifting the rural poor through various welfare schemes introduced and implemented through Nationalised Banks, for which the PSBs have squarely been working for.

2. The workforce of the Nationalised banks also responded befittingly by spreading its presence from 8262 branches with a total business of Rs. 8,245 Crores to more than 1,00,000 branches with total business of Rs. 1,16,89,988 crores since Nationalisation, in every nook and corner of the country, dedicated and devoted their lives in executing Government's initiatives and policies, unmindful of personal comforts, participated whole heartedly in the nation building, thereby, uplifting the downtrodden above poverty line.

3. Against their own policy, the Government has been encouraging private sector to enter into banking business since early 90's. There have been instances of failure of many Private Banks which commenced their business with fanfare, a few transformed into foreign banks and one was taken over by nationalised bank at the cost of nationalised bank's business and profit.

4. Years back in 2008, world witnessed the failure of banking institutions all over and the West was worst hit which brought the top banks to dust.

For the first three years, 25 per cent of branches should be in unbanked rural areas.

Payments Banks

Objective of payments banks is to increase financial inclusion by providing small savings accounts, payment/remittance services to migrant labour, low income households, small businesses, other unorganised sector entities and other users by enabling high volume-low value transactions in deposits and payments/ remittance services in a secured technology-driven environment.

Those who can promote a payments banks can be a non-bank PPIs, NBFCs, corporate's, mobile telephone companies, super market chains, real sector cooperatives companies and public sector entities. Even banks can take equity in Payments Banks.

Payments Banks can accept demand deposits (only current account and savings accounts). They

would initially be restricted to holding a maximum balance of Rs 100,000 per customer. Based on performance, the RBI could enhance this limit.

The banks can offer payments and remittance services, issuance of prepaid payment instruments, internet banking, functioning as business correspondent for other banks.

Payments Banks cannot set up subsidiaries to undertake NBFC business.

As in the case of Small Banks, other financial and non-financial services activities of the promoters should be ring-fenced.

The Payments Banks would be required to use the word 'Payments' in its name to differentiate it from other banks.

No credit lending is allowed for Payments Banks.

The float funds can be parked only in less than one year G-Secs

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Economic recession was the word substituted for the mismanagement. But Indian banking sector was shining as usual and Indian banks were making huge profits even in that adverse scenario.

Is it not the testimony for the managerial ability of workforce of Indian banking system?1. Keeping the eyes on the vote bank, debt relief

schemes were introduced from time to time, which marred the recovery mechanism in the banking industry and it became a major contributor in NPA building in the rural branches.

2. Governments of the times forced the banks to restructure the advances due to natural calamities and banks did so to revitalise the national economy.

3. When the Govt. wanted the inclusive growth by introducing financial inclusion and ordered to ensure the presence even in remote, the Public Sector Banks responded instantly to bring unbanked corners under banking services at huge expenses. When the govt. wanted to introduce Direct Benefit Transfer (DBT), we readily agreed and accepted to carry out the un-remunerative business unmindful of the costs and labour involved and toiled on Sundays and holidays, in the interest of countrymen.

4. So many self employment training institutes are run by the PSBs for skill development of Indian youth at huge cost out of the income earned. Recently Election education to the public has also been entrusted to the banks in 543 districts. Banks will not hesitate to undertake this responsibility also with their resources and manpower.

5. In order to help the private corporate, CDR was forced on PSU Banks which is a drain on hard earned income of Banks. The income is further drained out in the form of Income tax and forced dividends from profits.

In the midst of all the above adverse situations forced by the stake holders, controllers and political compulsions, Policies of the Government, Write off of bad debts, Concessions extended by permitting CDR to corporate, work force of the Banking Industry depicted a perfect picture as under:PERFORMANCE OF PSU BANKS (IN CRORES) 2011 2012 2013 2014

OPERATING PROFIT 99,981 116,335 121,943 1,27,633

PROVISIONS 55,080 66,821 71,360 90,626

NET PROFIT 44,901 49,514 50,583 37,007

We the proud employees of Public Sector Banks withstand all the pressures of accountability, transferability with all inconveniences, including absence of basic amenities, political pressures in expanding our services and products both horizontally and vertically and have been maintaining more than 70% of the market share of the banking business. The after effect of the Special VRS in 2001 followed by the Government regulation of non-recruitment of the workforce in the banking sector resulted in a situation that around 70% of the workforce is retiring from the banking sector in a span of 5 years (2012-2017). Though the recruitment process in the banking started in the year 2009-2010, the attrition rate is consistently high because the banking sector is not able to retain the talent due to unattractive salary package as compared to Private Sector Banks, other service industries, State/Central Government and Local Bodies.Incidentally wage revision of the bank employees who are the lowest paid in comparison to peer sector is due since November 2012 and the snail pace at which the Indian Banks' Association is dealing with the matter is causing lot of anxiety, anguish, and frustration amongst all of us. While we once again assure you of our wholehearted involvement in any step/action call given by the Government under your leadership, we request your indulgence in the matter of our wage negotiations as per the Charter of Demand submitted

thby us on 30 October, 2012, to the Chairman of IBA, delay in which has become a matter of concern for all of us.I sincerely hope that my communication will be taken in the right spirit and action will be initiated under your able guidance and leadership.Sincerely yours,NameBranch,BankAddress:7 Race Course Road,New Delhi – 110011Office Phone : 91-11-23012312Office Fax : 91-11-23019545 / 91-11-23016857Email : n_modi2012@yahoo.com,Facebook : facebook.com/PMOIndia facebook.com/narendramodiTwitter : twitter.com/PMOIndia twitter.com/narendramodi

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The scheme of Compassionate Appointment in Public Sector Banks was unilaterally withdrawn by IBA, misquoting a decision of the apex court, given in a case irrelevant to the compassionate appointment scheme in Banking Industry. The Officers' Organisations and Award Staff Unions under the United Forum of Bank Unions have been demanding restoration of scheme of Compassionate Appointments as was available to Government employees.

IBA had been expressing its inability to restore the same in the absence of approval from the Government and a scheme of ex-gratia in lieu of Compassionate Appointment was introduced in Public Sector Banks. Though, the Officers' Organisations and Award Staff Unions were not in favour of the scheme of compensat ion in l ieu of Compassionate Appointments but accepted it under protest as some of the members were getting benefitted. After the

thsecond option of pension achieved during 9 Bipartite Settlement, the scheme of compensation in view of Compassionate Appointment has become virtually redundant because family income of all deceased pension optees exceeded 50% of last drawn pay of the deceased.

Therefore, the United Forum of Bank Unions once again strongly felt that in the changed scenario, there cannot be any alternative to Compassionate Appointment scheme and besides raising their demand with renewed vigour at various fora, included this in the 'Charter of Demand' submitted for

th10 Bipartite Settlement. In the meeting of United

thForum of Bank Unions held with IBA on 14 March, 2014, IBA in principle agreed to our demand of Compassionate Appointment scheme on the lines in vogue in the Government departments. The matter was discussed by the Managing Committee of IBA in

stits meeting held on 1 April, 2014, and it forwarded its recommend-ations to the Government for restoration of Compassionate Appointment Scheme on the lines at par with the Government departments in place of ex gratia payment.

thGovernment of India has conveyed its approval on 7 August, 2014, on IBA's proposal as follows:

1. To open the Compassionate Appointment in PSBs on the lines of Central Government,

GOVERNMENT APPROVES COMPASSIONATE APPOINTMENT IN PSBs.

2. Discontinuing the provision of ex-gratia in lieu of Compassionate Appointment in PSBs.

IBA has been asked by the Government to take appropriate action to circulate the scheme of Compassionate Appointments to all Public Sector Banks for adoption with the approval of their respective boards. The scheme shall be applicable

thfrom 5 August, 2014. It is now for our Federation to pursue the matter with our Bank to get it implemented immediately.

Xth BIPARTITE UPDATES

Negotiations on the Xth Bipartite settlement have continuously been delayed . The settlement is due with effect from 01/11/2012, but IBA does not seem to be in any hurry to complete the negotiations. The last round was held on 14/07/2014 after a gap of almost five months and that too after repeated follow up by UFBU. There was no forward movement excepting the offer of 1% hike from 10 % to 11%. As there was no positive movement, UFBU met the

thFinance Minister on 27 June 2014 and urged him to intervene in the matter and sort out the issues. He proposed to get the details from the Banking Secretary and assured to look into the matter positively.

Meanwhile, after the long wait, IBA called for the thnext round of negotiations on 17 Sept 2014 and the

following is the outcome of the negotiations:-

The representatives of UFBU met at 11.00 a.m. to discuss and decide the strategies to be adopted in the negotiations with IBA. It was decided that along with the percentage increase in its offer, other important issues like regulated working hours, 5-day week, improvements in pension related matters should be raised simultaneously.

In the IBA meeting, Sri Bhasin, who was the Negotiating Committee Chairman till the last meeting and now elected as Chairman of IBA introduced the newly constituted Negotiating Team of IBA under the leadership of Sri Rajeev Rishi, the newly appointed Chairman of Negotiating Committee.

Subsequent to brief introduction and completion of formalities, before commencement of negotiations on wage revision, UFBU raised the following issues:

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Compassionate Appointment Scheme:

While thanking the IBA for its efforts and being instrumental in getting clearance of the Government for introduction of Compassionate Appointment Scheme on the lines available to Central Government employees, UFBU sought clarifications on issues like eligibility, applicability with regard to death cases prior to 05.08.2014, etc., to which IBA conveyed that the matter would be referred to Government and necessary clarifications will be issued on receipt of their advices;

Accounts to be opened under Jan Dhan Yojana:

While appreciating and extending the support of UFBU to the initiatives taken by the Government towards extension of banking facility to all the people in the Country, UFBU expressed the following apprehensions:

The compromises on KYC norms may lead to opening of fraudulent accountsfor which employees should not be held accountable;

The pressure due to the targets stipulated for opening of accounts are greatly affecting the regular banking activities and services to existing customers;

Due to the stipulation on timings for opening of

accounts from 8.00 a.m. to 8.00 p.m., employees are forced to work beyond their working hours and are also under severe stress to achieve the stipulated target.

During the negotiations, IBA informed that the UFBU's demand of 25% increase in pay slip components is on high side and beyond the paying capacity of banks and insisted that UFBU should review its demand, to which UFBU responded as under:

IBA should substantially revise its offer of increase in pay slip components;

The other important issues like regulated working hours, 5-day banking, improvements in pension related matters, etc. should be discussed simultaneously and in a time-bound manner;

The meetings on negotiation have to be held regularly at frequent intervals ensuring expeditious settlement;

UFBU will have flexibility in its demand depending upon the response of IBA on all the above matters.

IBA assured UFBU to schedule the next round of meeting within one week to discuss comprehensively on all the issues.

VIJAY MALLYA IS SLAPPED WITH WILFUL DEFAULTER NOTICEAs per RBI guidelines, Wilful default broadly covers the following:

a) Deliberate non-payment of the dues despite adequate cash flow and good networth;

b) Siphoning off of funds to the detriment of the defaulting unit;

c) Assets financed either not been purchased or been sold and proceeds have been misutilised;

d) Misrepresentation / falsification of records;

e) Disposal / removal of securities without bank's knowledge;

f) Fraudulent transactions by the borrower.

Once branded a wilful defaulter, a person or entity cannot access institutional credit. Such a person cannot hold office of director. If a borrower is so tagged, it will find it difficult to obtain a loan from any bank. The borrower become 'untouchable' for lenders.

Criminal action against willful defaulters

RBI has also defined initiation of criminal action against willful defaulters. It states:-

a. It is essential that offences of breach of trust or cheating construed to have been committed in the case of loans should be clearly defined under the existing statutes governing the banks, providing for criminal action in all cases where the borrowers divert the funds with malafide intentions.

b. It is essential that banks closely monitor the end-use of funds and obtain certificates from the borrowers certifying that the funds have been used for the purpose for which these were obtained.

c. Wrong certification should attract criminal action against the borrower.

Criminal Action by Banks / FIs

It is essential to recognise that there is scope even under the existing legislations to initiate criminal

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action against wilful defaulters depending upon the facts and circumstances of the case under the provisions of Sections 403 and 415 of the Indian Penal Code (IPC) 1860. Banks / FIs are, therefore, advised to seriously and promptly consider initiating criminal action against wilful defaulters or wrong certification by borrowers, wherever considered necessary, based on the facts and circumstances of each case under the above provisions of the IPC to c o m p l y w i t h o u r i n s t r u c t i o n s a n d t h e recommendations of JPC.

It should also be ensured that the penal provisions are used effectively and determinedly but after careful consideration and due caution. Towards this end, banks / FIs are advised to put in place a transparent mechanism, with the approval of their Board, for initiating criminal proceedings based on the facts of individual case.

Defaulter notice by UBI & SBI

Kingfisher owes Rs 7600 crore to a consortium of 17 banks, led by State Bank of India, on which it has defaulted. . SBIhas the highest exposure of Rs 1,600 crore. The banks have classified the loans as non-performing, though these were restructured in 2011 and a part of the debt converted into equity.

In February 2012, the banks had formally declared loan recall on KFA and began recovery process. A large part of the loan was unsecured, so most of the Banks made 100 per cent provisioning for the exposure. Banks have started recovering their dues from the airline by liquidating the promoter's personal guarantee which includes financial assets, and physical assets like its office in Mumbai and a villa in Goa.

Bankers also hold the pledge shares of United Spirits, Mangalore Chemicals & Fertilizers and Kingfisher, beside corporate guarantees of United Breweries Holdings. So far, they have recovered around Rs. 2,000 crore by selling pledged shares. They are now working on selling two other pledged properties - Kingfisher Villa in Goa and Kingfisher House in Mumbai.

Meanwhile, Kolkata-based United Bank of India (UBI) has slapped a wilful defaulter's notice on Vijay Mallya, chairman of grounded Kingfisher Airlines,

and other board members. It gave the company 15 days to respond. The airline has been grounded since October 2012. UBIis the first lender to send such a notice. It has an individual exposure of Rs 400 crore to Kingfisher, classified a non-performing asset. According to RBI guidelines, banks can categorise defaulters as wilful if the borrower has not paid back when it has the capacity to honour the obligation or the funds have been diverted and not used for the purpose it was taken, among others.

Once the borrower responds, a committee will be formed, headed by the chairman of the bank to vet it. If not satisfied, it will tell RBI, the borrower has been so classified. Then, the information is made available by RBI to all banks.

Days after United Bank of India declared Kingfisher Airlines, its promoter Vijay Mallya and three other directors as 'wilful defaulters', State Bank of India (SBI), the country's largest lender, has also sent a notice to tag them as willful defaulters.

Meanwhile, the SBI Chairman has Called for a better bankruptcy law in India and better recovery mechanism backed by law and not just by RBI norms. "The wilful defaulter tag is in RBI regulation but the force of law is not with it. So, you need a legal mandate there," said Ms Bhattacharya.

Besides, Bank of India has Rs. 650 crore lent to the airline, followed by Bank of Baroda (Rs. 550 crore), United Bank of India (Rs. 430 crore), Central Bank of India (Rs. 410 crore), Uco Bank (Rs. 320 crore), Corporation Bank (Rs. 310 crore), State Bank of Mysore, (Rs. 150 crore), Indian Overseas Bank (Rs. 140 crore), Federal Bank (Rs. 90 crore), Punjab & Sind Bank (Rs. 60 crore) and Axis Bank (Rs. 50 crore).

Though the finance ministry seems to prod banks for improving their recovery of dues and identifying wilful defaulters, to send the right signals to such borrowers, we have to wait and watch just how far it will go in taking up the other defaulting big business houses. The response of the Government to strengthen the existing laws to recover dues from big business houses should match the enthusiastic response it shows to amend labour laws to facilitate Business houses.

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THTHE 25 GENERAL BODY OF SBIOA (CC) thThe Executive Committee of our Association has decided to conduct the 25 General Body of SBIOA(CC)

th thon the 15 and 16 November 2014 at Coddisia Intech Technology Centre, Coimbatore.THCENTRAL TRADE UNIONS CALL FOR 'NATIONAL PROTEST DAY ON 5 DECEMBER 2014.

The Central Trade Unions including the BMS conducted a National convention of workers on 15/09/2014. thThey have called for a National Protest Day on 5 Dec. 2014 and State level protests on October 15, 2014 to

protest against the Government's efforts to dilute labour laws and tripartite committees in various sectors. The Government has proposed to amend the Factories Act, the Industrial Disputes Act and the Contract Labour (Regulation and Abolition) Act. Except for a courtesy meeting with the Trade Unions on June 24, no discussions took place with the Trade unions on the proposed amendments.

One of the important amendments suggested to the Industrial Disputes Act is to raise the cap on the number of workers in any industry to 300 from the existing 50 workers for application of the ID Act . If amended, at one stroke, it will put more than 50% of the work force outside the purview of the law.

BANKS VESTED WITH POWERS TO DECIDE ON HOUSING LOAN TO STAFF

The scheme of Staff Housing Loan to bank employees was at one point of time formulated at industry level and was implemented uniformly in all the banks. After the autonomy was given to the banks, some of them not only considered enhancement in the loan limits but also permitted change in rate of interest to be charged to the employees. However, some of the rigid Management / Bank Boards did not allow any enhancement in the limits to match the increasing cost of houses / construction. Taking cognizance of the issue, Indian Banks'

thAssociation represented the issue to Government of India on 29 March, 2014. The Government of India, Ministry of Finance, Department of Financial Services, after examination of the matter, conveyed its concurrence and advised:

“PSBs may decide the matter related to Staff Housing Loan policy with the approval of its Board and Board may suggest, if it feels it to be a part of Wage Negotiations”. The Government has asked the IBA to take appropriate action to convey the decision of the Government to all Public Sector Banks for deciding the matter related to Staff Housing Loan.

The decision of the Government has its own merits and demerits. Therefore, the issue is placed before the Working Committee for deciding our views on the matter, viz. whether we should accept Bank level schemes or should demand a uniform scheme at Industry level.

Officers and employees of the Reserve Bank of India (RBI) have warned the Directors of the Central Board that any unilateral change in the human resources policy may trigger “avoidable extreme industrial action”.The United Forum of Reserve Bank Officers and Employees wrote to the Board asking it to issue directions to the management to take member unions on board before tinkering with the policy. The Forum recalled its meeting with the Governor, Deputy Governors, and senior officials on August 19, wherein it had expressed concern over the proposed restructuring and clustering. It had also expressed serious opposition to lateral recruitment in leadership positions on a continued basis and had sought meaningful interaction for an amicable settlement.

The bone of contention is the internal restructuring and lateral recruitment proposals being considered by the RBI. RBI Governor Raghuram Rajan had suggested that the Forum give its concerns over the matter in writing, and promised to find a solution to the issue at the next meeting.On August 26, in a letter to the management, the Forum conveyed its fears over the restructuring, creation of additional posts of Deputy Governors and Executive Directors, and lateral recruitments. However, a newspaper advertisement for lateral recruitments at the highest level has also not been withdrawn.The letter also requested Governor Rajan not to take any hurried and unilateral action. But members of the Forum say they have since learnt that the central bank authorities are going ahead with the restructuring proposals.

RBI Unions take exception to HR rejig, lateral recruitment plan

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ANNUAL SPORTS MEET AT CHENNAI INAUGURATEDthThe 24 Annual Sports Meet of our Association was

thinaugurated on the 14 September 2014 at our SBOA School and Junior College, Anna Nagar West. Shri. A Sivraman, Senior Manager, IOB and former International Volley ball player inaugurated the sports meet. More than 200 members and their family members attended the inaugural function. Badminton competitions for our Officers, Spouses and children were conducted on the day. The competition will continue during the coming weeks till its culmination on

th ththe 26 January 2015. Earlier, on the 8 Sept 2014 a preparatory meeting of Unit Secretaries, Activists and

thSportsmen Officers was held on the 8 Sept 2014 at our

thAssociation office, and it was decided to inaugurate the Yearly Sports carnival on the 14 Sept and complete the events before 26the January, so that the valediction can be held on the Republic Day, 26 Jan 2015.

General secretary Com Franco addressing

members in the inaugural function

Men Finalists of the Shuttle cock Women finalists of the Shuttle cock

Many of the Banks do not have transfer policy which gives consideration to the special problems which female officers/employees face vis-a-vis their male counterparts. Government of India, Ministry of Finance, Department of Financial Services has issued guidelines to all Public Sector Banks including IDBI & SBI Associates, so that transfers of female officers and employees can be considered with compassion and their hardship can be mitigated to the extent possible. The communication sent by Ministry of Finance, DOFS to all PSBs states:“It has been brought to the notice of this Department that female employees of Public Sector Banks (PSBs), married or unmarried, when placed/transferred away from their husbands or parents, as the case may be, to distant locations face a genuine hardship and develop a feeling of insecurity. Keeping this in view, it has been decided:I To accommodate as far as possible placement/

transfer of married female employee, on her request,

at a place where her husband is stationed or as near as possible to that place or vice versa; And

ii. To accommodate as far as possible placement/ transfer of unmarried female employee, on her request, at a place where her parents, are stationed or as near as possible to that place.

2. 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 also be considered under these guidelines. A line of confirmation may be sent to this Department immediately after adoption of the policy by the Board of the Bank.

3. This issues with the approval of Secretary (Financial Services).”

We have been receiving lot many representations from lady officers of all Banks regarding their request of transfers. We have requested our Federation to speed up the process of our Bank implementing it.

TRANSFER OF FEMALE EMPLOYEES IN PUBLIC SECTOR BANKSPSBs ADVISED TO FRAME POLICY TO MINIMIZE THEIR HARDSHIP

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Project Progress – C Block Excavation, PCC work completed. Block A, B,I,S,O basement excavation work are in progress. Compound wall excavation is in progress. Mobilisation of machineries are in progress. Finance – We have already paid to our Builder M/s. Simplex infra structure limited a sum of Rs. 20 crores. Allotment: We have received 47 request, for new / change over allotment. Members have been asked to deposit the money. This week end new allotment may be completed. Administration: The Housing Project Committee approves another clerk recruitment. The newly constituted Housing Committee met on 29.08.2014, discussed various important matters and take the following decisions:1. To bring change in Construction agreement and

sale agreement and a small committee consisting of Com. M. Pandiarajan, AGM, BPR, Com. R.S. Raju, AGM, Vigilance and Com. Veeramani, Module Engineer – Draft agreement is ready, waiting for legal opinion.

2. The co-ordination to shifting EB HT and LT Line in our housing site was assigned to Com. A.V. Joseph, RS Chennai I Module and M. Mohan, Chairman Housing Project – Com. A.V. Joseph established a very good contact with Chief Engineer, TNEB . The work will be over within a week

UNITY ENCLAVE PROGRESS REPORT

3. Interest may be charged for delayed payment of instalment after 15.09.2014 – The committee extended this date to 30.09.2014.

4. The computer containing the details of receipt was received only on 13.09.2014 from the former President- Receipt to all members for the initial payment should be issued within 15 days.

5. Every month housing Committee meeting shall be nd

conducted on the 2 Saturday at Association Office thand on the 4 Saturday at the site, at Mambakkam.

As per the decision taken in the meeting on nd

29.08.2014, the 2 Saturday housing committee meeting was held on 13.09.2014 at our Mercantile Plaza. The following decisions were taken:1. Survey of our entire site should be done2. Due to the expectation of our members in staff

housing loan enhancement, the Committee decided to go for Asset backed loan from our Bank. This work has been assigned to Com. A. Ravichandran, RS Chennai II.

3. The Housing members data has to be updated. The Committee decided to assign 40 to 50 members to each EC member and update the data. This follow up work is assigned to Com. A. Ravichandran, RS, Chennai II – The work should be completed within a week.

CULTURAL WING OF CHENNAI

ORGANISES CULTURAL MEET

The cultural wing of our Association at Chennai organized a cultural meet at the Indira Gandhi Auditorium of our SBOA

thSchool and Junior College, Anna Nagar West on the 13 September 2014 .

A musical programme by SRIRAAJ MELODIES and a grand Mimicry show by SUN TV fame SASI & DAVID were arranged. The spectacular show was well attended by more than 300 members and family members . The mellifluent music by Sriraaj Melodies was very enthralling and held the audience spell bound and captive. They say Laughter is food for the soul. The mimicry show was so hilarious that everyone including the children had hearty laugh till belly burst.

The highlight of the programme was the performance of the children of our Officers who sang many songs in the most professional manner and made everyone enjoy the music. Com. J Ramesh Babu, the co-ordinator of the programme made elaborate arrangements.

GARO REBELS KIDNAP SBI OFFICER

Com Subodh Kumar Mishra, Assistant Manager at Gasuapara Branch was kidnapped on Aug 05, 1914 at gunpoint by members of A'chik Songna Anchakpagipa Kotak (ASAK) near Gasuapara, South Garo Hills when he was returning from Office.

After several protests including closure of Branches in the region, he was released from captivity after a period of 17 days.

This is not the first time such kidnappings take place. Earlier Com Arvind Kumar, Branch Manager of our Ampati Branch

thwas kidnapped on June 16 . He was rescued two days later by Security Forces.

Text of letter No. ORG/94/2014 dated 15/09/2014

Ref: ORG/94/2014 15.09.2014

The Chief General Manager

State Bank of India, Local Head Office

No.16, College Lane, Chennai 600 006.

Dear Sir,

Stopping of Salary for officers who have not been relieved on Transfer

We are receiving representations from some of the Officers who are under orders of transfer stating that they have been relieved in HRMS through Transfer Tracking Mechanism but physically they continue to be in the same branch. Now these Officers have been told that no salary will be paid to them for this month. It is the Controllers and the DGM B&O who are responsible for not relieving the Officers inspite of repeated reminders from the Local Head Office. Please refer to our letter no. ORG/71/2014 dated 02.08.2014 on this issue. By stopping salary, which is illegal, innocent Officers are getting punished for no fault of theirs. So kindly instruct the controllers to immediately relieve the Officers and ensure that the Officers get the salary.

Thanking you,

Yours faithfully,

(D. THOMAS FRANCO RAJENDRA DEV)

GENERAL SECRETARY

-----------------------------------------------------------------------------------------------------------------------------------

Text of letter No. ORG/88/2014 dated 30.08.2014

The Chief General Manager

State Bank of India

Local Head Office, Chennai 600 006.

Dear Sir,

Meeting / Melas on Sundays & Holidays

Of late, at many of our branches, Officers are asked to work on Sundays and other Public Holidays for doing routine Banking works.

It is common that on almost all days, Officers work for extended hours under stressful and difficult conditions, leaving very little scope for family & social life and rest & recuperation.

The conditions prevailing at Branches are very stressful that in many of the Branches, Officers are not able to avail leave even for personal medical treatments.

Under such circumstances, Sundays and holidays are the only option available to officers to attend to their personal works, maintain family and social life, take rest and recuperate.

The quality of work performed after a day's rest and after fulfilling family and social obligations will be much better. Work without the much needed rest will be a risk for the Bank and to the individual.

However, unmindful of all these aspects Officers at some of our Branches are summoned to work week after week on Sundays also. In Trichy Module, Sundays are used for Melas / Recovery Camps routinely. Review Meetings are conducted on Sundays at some modules. Review Meetings on Saturdays extend upto 9-10 PM in most of the modules and the Branch Managers who do not have vehicle, many of whom are ladies have to reach home in the middle of the night. This has resulted in affecting the harmony in family, social and personal life of many of our Officers.

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We therefore request you to kindly intervene in the matter to light the lamp of harmony in the life of Officers by issuing instructions to let the module authorities not ask the officers to work routinely on Sundays & other Public holidays and restrict review meetings to working hours, except in some emergency situations.

Thanking you,

Yours faithfully,

(D. THOMAS FRANCO RAJENDRA DEV)

GENERAL SECRETARY

-----------------------------------------------------------------------------------------------------------------------------------

Text of letter No. ORG/89/2014 dated 30.08.2014

Ref: ORG/89/2014 30.08.2014

The Circle Development Officer

State Bank of India, Local Head Office

Chennai 600 006.

Dear Sir,

Inter Circle Transfer

Transparency in Registration

The Inter Circle Transfer Policy facilitates 15 Officers in a year to get Inter Circle Transfer every year. Officers are eligible to apply for ICT on completion of 3 years service. Most of the officers applying for ICT are Probationary Officers and Trainee Officers. In many cases, their eligibility to apply for ICT falls on the same day and they do apply on the same day.

However, those who stay at Chennai and other Administrative Centres have the advantage of sending the application on the same day and those working at rural / semi urban and other non administrative centres are aggrieved that their application getting registered is delayed due to obvious reasons.

Moreover, at present applicants are not advised of their application getting registered and the waiting list / registration number is not communicated. There is a lot of frustration due to the uncertainty about their transfer among young ICT applicants. Many juniors have got ICT but seniors are still waiting without knowing their position in the waiting list.

Many other Circles such as Ahmedabad, Kerala etc follow a very transparent system as they display the ICT registration list in their Circle website. This helps the Officers to plan their future and the anxiety about their transfer is removed.

We request you to kindly instruct appropriately and devise the modalities for maintaining seniority in registration which would be fair and just to Officers serving across the Circle. We also request you to display the ICT registration list in the Circle website which will make it transparent and make the young officers appreciate the fair, just and transparent system.

Thanking you,

Yours faithfully,

(D. THOMAS FRANCO RAJENDRA DEV)

GENERAL SECRETARY

Copy to: The Chief General Manager, SBI, LHO, Chennai

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COPY OF LETTER WRITTEN TO THE FDERATION

The General Secretary,

AISBOF

No.65, St. Marks Road

Bangalore 560 001.

Dear Comrade,

STAFF ACCOUNTABILITY FOR INFRINGEMENT/ TRANGRESSION IN CORE BANKING DATA AND OTHER INFORMATION TECHNOLOGY TOOLS & PACKAGES OF THE BANK

We had a detailed discussions on the draft note prepared by the Bank and circulated by you in our Executive Committee.

The entire EC is of the opinion that the note has to be rejected in toto. There cannot be any punishment without opportunity to explain the circumstances which led to the mistake and this will only lead to favouritism and punishment by the controllers as per their understanding without looking at the problem in totality. So, we have resolved to request the Federation to reject the draft totally.

However, we put forward the following points for you to explain in the meeting.

1. Everybody in the Management is aware that when we switched over from Bank Master to CBS, the data transfer was done in a hurry, at times using outsourced persons. The data purity was not maintained. Similarly CISLA data was handled everywhere by outsourced persons who did not bother about the purity of data. Even now officers are asked to correct data including KYC norms over night for thousands of accounts. People have been forced to provide false confirmation. Adequate time should be provided and additional staff are required for the purification of data. Today almost every branch is having shortage of officers and staff. The business has increased many fold but recruitment is done only for the vacancies created out of retirement. In every Circle there are hundreds of branches which are manned by a single officer violating the maker checker concept. Unless we understand the reality and take steps, provide adequate staff, data purity will only remain a myth.

2. The concept of “Cash Penalty” itself is not a fair concept, considering the fact that there are already enough provisions under the existing service rules to deal with such lapses.

3. Before laying down rules / instructions to initiate DP and levy cash penalty for lapses, it must be incumbent on the Bank to update and circulate the revised book of instructions. The existing piecemeal instructions issued on various dates is difficult and cumbersome to access and understand any job in totality.

4. If staff accountability has to be fixed, it has to be fixed for the controllers who have been giving oral instructions because of which many mistakes continue to take place.

5. No punishment can be allowed to be given without an enquiry except censure or administrative warning. Cash penalty should not be allowed to be introduced.

6. Proper training has not been given to the Officers, as and when changes are made.

7. It is a known fact that Specialist Officers are allowed to use the password of other officers because they do not have access in some cases like CRE PBs and in some other cases especially in single officer branches the Branch Manager has to only depend on them. They are given the password since as Specialist they are not allowed to handle certain segment of accounts. So finding solutions to these problems by converting them

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into Generalalists, Training them and classifying their role and responsibility in the changed circumstances is essential and giving access to CRE PBs in CBS need to be first implemented.

8. The Maker Checker concept has been given a go by for a long time and there is a need to specifically state the responsibilities of the maker and checker in the present technology environment.

9. Double postings occur in many cases due to connectivity failure or system failure for which the officer cannot be held responsible.

As the proposal needs to be rejected in toto, we do not want to comment on the totally authoritarian manner of prescribing penalties even beyond the scope of State laws.

Comradely yours,

(D. THOMAS FRANCO RAJENDRA DEV)

GENERAL SECRETARY

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Communication Revolution

Daughter: Dad, I'm in love with a boy who is far away from me. I am in India, he lives in UK. We met on a dating website, became friends on facebook, had long chats on whatsApp, proposed to each other on skype and now we have had two months of relationship in viber. I need your blessings and good wishes, Daddy.

Daddy: Oh! Really!!, then get married on twitter, have fun online, buy your kids on e-bay, send them through e mail and if you are fed up with your husband ---- sell him on OLX----.

Bankers' Rhyme – New

Johny, Johny ------------ yes Pappa

Job in banking -----------yes Pappa

Lot of tension ------------ yes Pappa

Too much work ---------- yes Pappa

Family life ---------------- No Pappa

BP, Sugar -----------------High Pappa

Yearly Bonus -------------Joke Pappa

Annual pay --------------- Low Pappa

Personal Life ------------- Lost Pappa

Wage revision ------------ Ha! Ha!! Ha!!!

FREEDOMFreedom became one of the beacon lights of my life and it has remained so ever since . Freedom ….. transcended the mere freedom of my country and embraced freedom of man everywhere and from every sort of trammel- above all it meant freedom of the human personality, freedom of the mind, freedom of the spirit. This freedom has become the passion of my life and I shall not see it compromised for bread, for security, for prosperity, for the glory of the state or for anything else. Jayaprakash Narain.

WhatsApp Buzz

SBIOA(CC) EXTENDS

A WARM WELCOME TO

MS. RITA G,

GENERAL MANAGER, NETWORK I

&

SHRI DEEPAK KUMAR,

GENERAL MANAGER,

NETWORK II

TO CHENNAI CIRCLE.

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Circular No. : NBG/PBU/PL-GL/26/2014 – 15, August 14, 2014.

All the Operating Units should fix a date during 3rd week of every month on which the auction of gold ornaments in all eligible cases should be done. In case this date is a holiday, then the next working day will be the date on which the auction must take place.

The list of all overdue Gold Loan accounts are available on SBI Times Core Banking Portal (url: http://10.4.243.170/Home.aspx) and the same are available on every CCDP run i.e., 10th, 20th and month end.

PERSONAL BANKING: AUTO LOANS.

FINANCING CAR LOANS TO BUSINESSMEN, SELF-EMPLOYED & PROFESSIONALS

VERIFICATION OF INCOME

Sl. No. : 545/2014 - 15

Circular No. : NBG/PBU/AL-AUTOLOAN/14/2014 - 15

Monday,August 11,2014.

In case of Businessmen, Self-employed and Professionals wherever there is no credit history in Credit Information Company's (CIC's) report, then independent verification of the genuineness of their regular income and necessary due diligence should be

BANKING UPDATES

The Union Cabinet has cleared the sale of Government Share in three PSUs, Oil and Natural Gas Corporation, Coal India and National Hydroelectric Power Corporation. It has decided to sell 5% in ONGC, 10% in CIL and 11.36% in NHPC and expects to generate Rs.45000 crores.

Reserve Bank of India Governor Raghuram Rajan on Monday said the government should consider banks as “independent entities” that take their own commercial decisions, and not as its extended arm.

While it was fine for the government to involve banks to further the social sector agenda, it should ensure that such schemes are financially feasible for the lenders, Rajan said. “You cannot get a mandate and cannot fund it. After all, public sector banks also have private shareholders and are not any longer an extension of the government. They should be seen as independent entities,” Rajan said at the Ficci banking summit.

done to ensure that their business is genuine and their income is sufficient to service the loan.

ISSUANCE OF INTERNET BANKING KIT ALONG WITH THE WELCOME KIT AT THE TIME OF OPENING THE ACCOUNT

Sl. No. : 524/2014 - 15

Circular No. : NBG/PBU/LIMA-SB/15/2014 - 15

Wednesday,August 06,2014

Branches should issue the pre-printed Internet Banking Kit together with the Welcome Kit at the time of opening the account, to all the customers availing the Internet Banking facility. The customers who do not wish to avail Internet Banking facility shall not be issued the Internet Banking Kit along with the appropriate Welcome Kit.

Circular No: PB/AL/1/KSK/10 24.07.2014

Dear Sir,

PERSONAL BANKING: AUTO LOANS

SOFT RECOVERY MEASURES- MAKING TELECALLING COST NEUTRAL

Recover the expenses incurred in connection with soft recovery of loans from the borrowers like cost of SMS/Te le -Ca l l s , v i s i t by an au thor ized person/employee of the Bank etc.

BANKING NEWS

The State Bank of India (SBI) has emerged a surprise market leader in mobile banking, accounting for half of all mobile transactions in the country.

Although traditionally new generation private banks and foreign banks have been the early adopters of alternative platforms, the 208-year-old Indian bank is preparing to leapfrog its customers directly from branches to mobiles as part of its strategy to reach out to the unbanked and decongest branches.

The bank has over 1.15 crore mobile banking users, which is larger than the mobile banking customer base of large banks in the West. Only a couple of Chinese banks have more mobile banking customers. The number is expected to rise dramatically as the ratio of mobile banking customers rises from 4.5% at present to 12% in two years and possibly 60% after three years as the bank completes its channel integration.

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State Bank of India has taken the lead in flagship 'Pradhan Mantri Jan Dhan Yojana' (PMJDY) by opening over 30 lakh accounts so far, followed by Punjab National Bank.

As of September 8, State Bank has opened about 21.16 lakh accounts in rural areas and 8.8 lakh accounts in urban areas, Financial Services Secretary G S Sandhu said.

Punjab National Bank (PNB) opened about 20.24 lakh accounts, Canara Bank with 16.21 lakh, Central Bank of India 15.98 lakh and Bank of Baroda 14.22 lakh accounts.

However, major private sector banks taken together opened just 5.8 lakh accounts, much lower than even regional rural banks which have opened 49.28 lakh accounts.

State Bank of India (SBI) in tie-up with MasterCard on Monday launched its first multi-currency international debit card to allow consumers to use a single card to pay in multiple currencies.

“To begin with, the prepaid debit card will enable customers to load four currencies – US dollar, euro, Great Britain pound and Singapore dollar. More currencies will be added going forward as the card has the facility to be loaded up to 12 currencies, S K Mishra, Deputy Managing Director, SBI, said.

Putting to rest the debate on printing of one rupee notes, the Law Ministry has opined that the Government of India has all the powers to print currency notes of this denomination.

While the Reserve Bank of India (RBI) has the authority to issue bank notes of denominational values of Rs 2, Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 500, Rs 1,000, Rs 5,000 and Rs 10,000, the one rupee note was printed and issued by the central government.

The Government of India also has the sole right to mint coins of all denominations.

The economic slowdown has led to the bank credit growth falling to its lowest level in about five years. The growth is near the levels last seen at the time when the economy was reeling under the global financial turmoil.

Reserve Bank of India (RBI) data showed that on a year-on-year basis for the fortnight ended August 22, the bank credit grew by 10.94 per cent. Bank credit grew by 10.61 per cent in the fortnight ended December 4, 2009.

With a rise in non-performing assets exerting pressure on their profitability, Indian banks' capital adequacy ratio (CAR) has fallen in the aftermath of the global economic slowdown of 2008— to 13 per cent as of March 2014 from 13.88 per cent a year earlier, according to data compiled by the Reserve Bank of India. The ratio— a measure of banks' capital to their risk— was 13.01 per cent as of March 2008.

Public-sector banks have been the worst hit, with their average capital adequacy ratio falling to 10.67 per cent as of the quarter ended June, compared with 11.18 per cent in March.

CONGRATULATIONS

SBIOA(CC) congratulates the following Officers on their well merited promotions:-

SM IV TO SM V- SPECIALISTS ( RAJBHASHA)

1. Com. Vijaya S , LHO, Chennai

MM III TO SM IV

2. Com. S Kannan, ZIO, Chennai

MM III TO SM IV – SPECIALISTS ( SYSTEM)

1. Com. KESAVAN R , ITSS, LHO, Chennai

2. Com. I RAMESH S , MIS, LHO, Chennai

MM II TO MM III- SPECIALISTS (SYSTEM)

1. Com. ANBU MANIMARAN N, MIS, LHO

2. Com. MEENAKSHI RAVINDRAN , MIS, LHO

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Comrades:Jayachandran ChandrahasanKavitha K R ManiSathees RBenitha Balika Joseph ChelliahNithish Andreyya Raja SinghAbinayasaraswathi GnanasekaranAgila GopalAnbhu PAnushya RArchana SekarArulkumar MadhiyanArulmani ShanmugamAzhaguraj TBaby Sheela Saravana KumarBalakrishnan RangasamyBalakrishnan SundaramBalamurali PonnanBirrave S RBoologasundar CV.Chandramouli VallikannanGayathri A PGayathri GGeetha M MurugesanGomathi ChinnasamyGopi RanganathanIssac Sunil CK.Iswaryadevi KarthikeyanJayaprakash OulaganadaneJansirani PJegajothi GanesanKalaivani TKalaiyarasi SelvarasuKalpana KasinathanKanagadurka ChanemougameKani VKarthick VKasirajan ThambusamyKavitha RajendranKishore PeriyasamyKoppa Raja VKumar Selvam RamuR.Kumaraselvi SivagurunathanM Kuppusamy MurugesanM.Elancheziyan .S.MariyappanMahalakshmi SamipillaiMahendiran SMahendran - SMalarvizhi SManimegalai Rajendran

JMGS I TO MM II (SPECIALISTS)

Comrades:Mankai DV Masilamani S VelusamyMeenakshi VMukesh TamilarasanMuniyasamy NMuthusamy MMuthuvijayan MNagaraj RNalayeeni SundarajanNarmada .V.SNithya ThiyagarajanPalanivel SelvamPandi PPriya Dharshini JBhuvanesvari RamalingamRaja AmirthalingamRajagowthaman PughazhendhiRaman RRamya . PeriyasamySakthibharathi KSakthipriyadharshini SSakthivel MSakthivel NagarathinamSaravana KSaravanan RajangamSathya PerumalSathya Prabha MathiyazhaganSavitha RamasamySelvakumar SubbarayanSenthil Anand RavindranShanmugavalli MSivasundaram VeerappanSobia SellavelSridhar TSubashini NSudha MP Suja PonniyanSumitha VeerappanSundaram SubramanianT Jeyasudha S ShanthakumarThirumal Valavan MathuraiUma GUnnamalai KVadivel AmmasiVasantha Raja DVenkataraman RamadossVenkatesan VasudevanVijaya Kumar G

AO Chennai Z IIRAJAJI SALAILHO ChennaiLHO ChennaiZO MaduraiSingipuramSholavandanVembatturAVANIPURAMHosur ADBUdumalpetErodeAsaveerankudikaTiruvallur ADBPodanurKaraikkal ADBSevoorNellikuppamAndipattiArniVilathikulamPalacodeOddanchathramANNURMadurantakamRBO, THANJAVURMannargudiVandavasiChingelpetMamallan NagarKrishnagiriPapanasamAmburChingelpetChockanathapuraAruppukkottaiAriyalurChittarBathalagunduTenkasiDevakottaiSILATTURKariappattiAnnavasalNamakkal TownKattumannarkoilAriyalurDharmapuriKanniappapillai

Udumalpet ADBKAVUNDAPADIOthakadaiKodavasalParamakudiManjalu MooduModagam BocVanapuramPudukottaiPonneriHosur ADBAyamplayamADBPalaniKovilurRmy PennagaramPonparappiRBO-5 PuducheryLabbaikudikaduAnthiyurMamallan NagarThenilaiCumbum ADBVillupuram ADBTiruchendurAriyalurAyyampettaiKUNIAMUTHURKomarapalayamGajalnaickenpatAtturDo not usePalameduTindivanamKumbakonamBzPalladamNangavalliMettur DamPanruti BazaarThanichayamPoigaiSanthavasalUthiramerurKeeranurKUNIAMUTHURJayankondacholaAlangudiRBO, SALEMPavinjur

NAME BR NAME NAME BR NAME

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Sow. Ramya D/o Com. S. Subramanian, DM. ZO, Coimbatore married Chi. Shankra Saravanan on 31. 08. 2014 at Salem.Sow. P.K. Aarthi D/o. Com. P. Kamatchi, Dy. Manager, Aruppukottai married Chi. S. Karpagamurthy on 11.09.2014 at Karaikudi.Sow. S. Sandhiya D/o Com. N. Sethuraman, CM, Audit married chi. Thanikkachalam on 11/09/2014 at Chennai.Sow. P.N. Amaravathi, D/o. Com. P.K. Naganathan, Dy. Manager, R-II, Zonal Office, Madurai married Chi. K.A. Maheshjana on 12.09.2014 at Madurai.Chi. R. Shyam Sundar, S/o. Com. T. Rajkumar, Asst. Manager, Karungal married Sow. S. Sharmila Devi on 15.09.2014 at Madurai.

RETIREMENTS

Sow. K. Karthiyayani, D/o. Com. S.K. Kumaravel, Manager, Sankaranayinarkoil married Chi. R. Senthilkumar on 02.07.2014 at Virudhunagar.Sow. M. Lavanya, D/o. Com. G.S. Mahadevan, Deputy Manager, Commercial Branch, Madurai married Chi. V. Gopalakrishnan on 04.07.2014 at Madurai. Sow. Sandhya, D/o. Com. V. Venkataramana Moorthy, Manager, RBO, Thanjavur married Chi. R.N. Balagiri on 15.08.2014 at Chennai.Sow. R.J. Divya Sai Lakshmi, D/o Com. S. B. Rammogan, Manager, SBI, Treasury Branch, CBE married Chi. R. Madhavaraman on 20.08.2014 at CoimbatoreChi. R. Srikanth S/o. Com. S. Ravikumar, Asst Manager, Oddanchathram married Sow. P. Hemamalar on 22.08.2014 at Tiruchirapalli.Chi. S. Prabakaran, S/o. Com. T. Subburaj, Dy. Manager, Zonal Office, Chennai Zone I married Sow. C. Priyadharsini on 29.08.2014 at Madurai.Sow. C. Deepa D/o Com. M Chinnaraju, Manager, Audit married Chi. T. Sathishkumar on 29.08.2014 at Coimbatore.Sow. R. Deepika, D/o. Com. P. Rajamohan, Chief Manager, Erode married Chi. P. Thiruckemban on 29.08.2014 at Tiruchirapalli. Chi. M. Maharajan S/o Com. M. Raju, Manager, SBI Taramangalam Married Sow. R. Soumya on 30. 08.2014 at Namakkal.Chi. S. Raghavan S/o. Com. G. Sadagopan, Dy. Manager, Tirumangalam married Sow. V. Sudharani on 31.08.2014 at Chennai. Chi. S. Arun. S/o Com. V. Sukumar, AGM, SBI, Zonal Office married Sow. P. Sneha on 31.08.2014 at Coimbatore.

OBITUARY

Com. M. Palani, Branch Manager, Narayanapuram Branch, Madurai expired on 30.07.2014 at Madurai.

Com. E. Gunarajan, Chief Manager, Perumalpuram branch expired on 01.08.2014 at Tirunelveli.

BEREAVEMENT

Com. A.K. Sarathy, Chief Manager, Madurai lost his mother on 18.07.2014 at Chennai.

Com. R.V. Subramani, Dy. Manager, Usilampatti Branch lost his mother on 29.07.2014 at Vellore.

Com. Rama Sarma, AGM BPMM, LHO lost his mother on 21.07.2014 at Coimbatore.

Com. A. Durairaj, Dy. Manager, Coimbatore lost his mother on 11.08.2014 at Coimbatore.

Com. Nagarajan, Chief Manager, SME Erode Branch lost his father on 26.08.2014 at Pondicherry.

MAY THEIR SOULS REST IN PEACE

JULY 2014

Sl S/Shri Name Designation Branch1. P. Venkatesan Manager Adyar2. R. Rajakumar Manager Annasalai3. U. Ramanathan Manager CAC Coimbatore4. K. Madhan Singh Asst. Manager Coml. Coimbatore5. N. Rajendran Dy. Manager CCPC Chennai6. V. Rajeswari Asst. Manager CCPC Chennai7. P.K. Narayanan Chief Manager LCPC Chennai8. S. Sekar Asst. Manager, CPPC Chennai9. K. Manivannan Asst. Manager Kulithalai10. S. Shanmugavel Asst. Manager LCPC hennai11. M. Srinivasan Chief Manager, RBO II Trichy12. P. Divakar Manager SECC Coimbatore13. S. Giridharagopalan Dy. Manager, SME Adyar14. P.S. Lakshmi Narayanan Asst. Manager Srirangam

AUGUST 2014

Sl S/Shri Name Designation Branch1. V.A. Jayaprakash Asst. General Manager LHO Chennai2. P. Jayakumar Dy. Manager Coml Coimbatore3. A. Maniraja Asst Manager CCPC Chennai4. R. Loganathan Asst. Manager Chamiers Road5. J. Rajasekaran Manager Dindigul6. V. Chithrandi Asst. Manager Karunguzhi7. N. Jayakrishnan Dy. Manager Kumbakonam Bazaar8. K. Krishnamurthy Asst. Manager LCPC Chennai9. R. Kalyani Chief Manager LHO, Chennai10. R. Thirunavukkarasu Dy. Manager Mamallan Nagar11. S. Ramadass Asst. Manager Nangavalli12. P. Jagadeesan Chief Manager, RASEC Pondi13. V. Sundaramurthy Manager RBO 3 Vellore14. P. Muthu Asst. Manager Tirumayam

WEDDING BELLS

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Comradely yours,

(D. Thomas Franco Rajendra Dev)General Secretary

Dear Comrades,

THANK YOU for your excellent support to the Association in the democratic process. Now we have only one team – Member's Team. We have started fulfilling the aspirations. We have prepared a three month's action plan. Coimbatore Module has successfully completed the Regional Negotiation Council and the other modules are going to have the meetings soon. Circle Negotiation Committee will

thbe on the 8 October 2014.

We have had a discussion with the Circle CGM on meetings on holidays and in late hours. He is not for depriving holidays and he ensures that his meetings are concluded early. It is only few Controllers who still do not understand the difficulty. Let us spend Sundays and Holidays with family and reactivate social life. Nobody can force you to work beyond 6 PM and on Holidays. It is violation of human rights and labour laws. Plan your work and leave in time.

Wage Negotiations have entered a tough phase. Be ready for action. The IBA's response is lukewarm. We will keep you updated. Please send fax / email / facebook message to the Prime Minister, if you haven't sent already.

We are in the Golden Jubilee Year of our Association and we plan to celebrate it appropriately and also release a book on the History of the Association for posterity.

th thOur General body will meet at Coimbatore on 15 & 16 November 2014. It will be inaugurated by Shri P.S. Prakash Rao, our Chief General Manager. We appeal all members to participate and make it a grand success. We have planned number of activities like

thcultural shows, exhibitions, book releases etc . On the 15 there will be a seminar. Those who have not signed up for Organ donation and blood donation are requested to sign the forms. Certificates will be issued during the General body. Please send your suggestions by e mail for making the General body meaningful and interesting.

We are preparing a three year perspective plan for all the wings of our Association including our Schools. Please involve yourselves and contribute with your ideas and suggestions.

We don't grow when things are easy. We grow when we face challenges.