Wednesday, March 4, 2015

Com. C.H.Venkatachalam “Reforms” himself and decide to take new “Avatar” !


Com. C.H.Venkatachalam “Reforms” himself and decide to take new “Avatar” !
Com. Venkatachalam has on 2nd March has said he welcomed consolidation of
Public sector Banks subject to three conditions.
I have reproduced what he told on the subject  in previous occasions.
Whether he supports merger of banks..sorry…sorry… consolidation of banks,
or giving  a NOC on behalf of unions to Govt.,?
Whether Govt., has overpowered Com. C.H.V/AIBEA?
or He……….
What is the reaction of other unions/associations?
So far many private banks when failed merged with Public sector banks.
One recent example is Global Trust Bank, a new generation bank.
But, The New Bank of India is the only Public Sector Bank merged with
Punjab National Bank in 1993.
Why employees object for merger of Banks?
What are the after effects of mergers?
I think every bank employee know it very well.
Anybody from New Bank of India, may explain their experience.
They may express in this page or write to me thro’ e-mail.
Employees are raising doubts about point No.3 (2% loading)
 in the minutes of 10th B.P.S.
Whether any explosive hidden and will blast in the final outcome of the settlement?
Is it a tactics to diverting the attention of employees?

Com. C.H.Venkatachalam’s view on 14.07.2014:


Monday, 14 July 2014 - 5:08pm IST | Place: Vadodara | Agency: PTI
The All India Banks Employees' Association (AIBEA) which represents
five lakh bank employees, has decided to observe July 19, which is the 45th anniversary of bank nationalisation, as "all India day to defend bank nationalisation and defeat privatisation of public sector banks".
Opposing the NDA government's move to "consolidate" banks and "reform" the banking system, AIBEA general secretary CH Venkatachalam said that such a remedy is "worse than the disease."
"In the name of remedy and improving the banking system, successive governments have been trying to pursue banking reforms measures.
All of us know that they wish to privatise banks and hand them back to the private sector in the name of reforms," Venkatachalam said at a meeting here.
"They want to merge banks in the name of global competition and they are eager to grant banking licences to big corporate and business houses.
They want to phase out priority sector lending and dilute public sector banks' social banking orientation," he said.
"They want to make banks more urban, elite-oriented and profit-based.
They are willing to write-off huge loans of corporates from hard earned profits of public sector banks but want to improve profitability by outsourcing banking jobs on a contract basis.
In short, they want to turn the clock back to the pre-1969 days before nationalisation of banks," he said.
Venkatachalam said that instead of such "retrograde" banking reforms, adoption of pro-people banking policies is the need of the hour, so that people's savings are utilised for their welfare.
CoCom. C.H.Venkatachalam’ view  on 01.08.2014:
August 1, 2014 Last Updated at 00:49 IST
The government-driven exercise to consolidate public sector banks (PSBs) is likely to run into problems.
Beside issues with organisation integration, there is strong opposition from employee unions.

While mergers take care of accounting, legal and regulatory requirements, the banks face challenges of wages and compensation fitment, culture and systems and info technology platform integration, said experts and senior PSB executives.

And, the resistance from bank staff and employees unions and local political interest could pose a formidable challenge.
C H Venkatachalam, general secretary, 
All India Bank Employees’ Association (AIBEA), said there is absolutely no case for consolidation.
There is enough space for many banks to do business when half the population is yet come under the ambit of financial services, he said.

Adding that the unions will begin agitations against the move to merge some state-run banks with other larger ones. AIBEA will prepare detailed plans in early August, he said.
Full report of Com. C.H. Venkatachalam’s view on 02.03.2015:
March 2, 2015 Last Updated at 15:42 IST
Indian Bank employees are not against the consolidation of government-owned banks provided certain conditions are met, a top union leader said Monday.We are not against consolidation happening in the banking sector.
But it should satisfy three conditions, viz.,
the consolidation should strengthen the banks, help people and
it should not bring tears to the eyes of the employees due to loss of job,
C.H. Venkatachalam, general secretary of All India Bank Employees Association (AIBEA) told IANS.
He was reacting to the government's reform measures for the banking sector.According to him, the three conditions presuppose that the public sector character of the government owned banks does not change."Curiously all bank managements want other banks to merge with them.
They do not want their banks to merge with another and end up losing their positions," he said.
According to him, there is a need for more branches to reach banking to unbanked rural populace.Welcoming Finance Minister Arun Jaitley's budget speech on the setting up of
Bank Board Bureau - the head hunting bureau for bank heads and board members - Venkatachalam said the members of the proposed body should be apolitical.
Venkatachalam is on the same page with the government's decision to revise the system of statement of intent or memorandum of understanding it signs with the bank management.
"The current system is like a pyramid scheme/multi-level marketing (MLM) scheme where the large number of employees do not get performance incentives while those at the top - chairman and managing directors, executive directors - get hefty incentives.
This despite banks stacking up huge non-performing assets," Venkatachalam said.
Venkatachalam, however, said there is nothing much in the union budget for the banking sector."
There is not measure announced to recover bad loans or incentive to the people to put their savings in bank deposits.
The government is shifting the focus off priority sector lending," Venkatachalam said.
He said the government has not allocated sufficient money for bank's capitalisation, leaving the banks to tap the equity markets.


Anonymous said...

The spokesperson of the Govt. (Shri.CHV) clearly mentioned the stand. True union leaders have to respond. Settlement to be revisited?

Sham Lal Kundal said...

Do all the leaders have gone on honeymoon? . No one is there to justify the settlement.

Rajeev Kumar said...

Comrades like CHV and his bosses sank communist party to present state of being a non nondescript bunch of jokers.Communists are habitual liars.It is rightly said that all political parties die swallowing their own lies.Now,having sabotaged the fate of millions of bankers to a bottomless black dark pit,they are preparing grounds for levy. Thank you Comrade for bringing this blackest Holi in the life of 8 lakh families of bankers.Hope you are very satisfied with the 10th BPS.

Pawan Kumar said...

Sir will you help by sharing a cutout or e-link of the view...

Anonymous said...


Siva Subrahmanyam kv said...

much has been said. how much of it has been achieved is being read and yet to be received. just like that, members from employees and officers are demanding the most realistic ones. yet, even after rolling of several months, much less is placed on record with perplexing complexity.
1st. 3rd and 5th SATURDAYS must have status quo timings only. i.e. 10 am to 2 pm.
All staff loans including clean overdraft accounts must carry 4% simple interest rate in place of present higher rate of interest.
Govt.of India must initiate steps to reduce the Term Policy (insurance) premiums of policies up to Rs. One crore.
With regard to merger of PSBs, clear road map has not been given even in Gyan Sangam.
In some banks, scale 1 officers are sent on deputations to scale 3 branches in place of managers. The risk involved to the bank as well as to the inexperienced officers is very much significant for open debate in banking circles. For such deputations, the Officers who worked as managers in the past but doing non managerial post now must first be taken from nearby branches or commutable surrounding areas of 20 kms. range. And also the Sub managers/Officers who opted for promotion under seniority category/officers who opted for promotion under merit quota.officers who did not opted for promotion but volunteer themselves to go on deputations to vacancies in managerial position should be carefully scrutinised and those who have tested and proved background must only be sent on for such deputations.
on the lines of UPSC, for banking industry too, there must be a national body for recruitment.
The introduction of CAT for officers in the banking industry is the need of the hour.
Mounting NPAs in PSBs are more dangerous than BLACK MONEY that is deposited in foreign banks, by Indians. Hence, much more has to be done by our Government through it's legislative powers. Honourable courts of Judicature must advice the Government on how best the present
laws can be used/ amended for achieving faster recovery of Amounts from NPA accounts.


What union leaders can say. They have done blunder, but why? It seems they could not exert any pressure on IBA and once again they befooled the bankers.

Rajiva Raman said...

Is there anything more after signing of this blunder settlement. UFBU leaders are not in a position to say anything, since they have sold themselves to IBA - not only themselves but younger bankers. They have played with future of younger bankers and have cheated.

Anonymous said...

Apparently IBA has fooled the bank employees. Can we expect one out of 9 leaders speak out and say the Mou signed is not that bad.

optimistics said...

Sir , please share the after effect of bank merging.

As i am new to this banking industry, i cant have any clear idea of merging. But what i feel is , in banking sector hhge competition is there for brought business from market , if the banks were merged the , iguess the mental pressure from the banks officer will be reduced a bit.

thallyan loon said...

Well said siva s k
In order to bring the bank in right track those there should be a strict policy of deputation' transfer and union should be cut out from any transfer policy matters now there are so many officers who are never out from the city area but only sit at the h.o r.o
where they act and tried their rules but that was not applicable at the ground level where rules and norms are hard to follow at rural areas where people are illiterate so dolls out your pocket to get a poating at ro or ho to be a true a deligent bankers my dear friends

Anonymous said...

Com.CHV is the lone warrior nobody has energy to procure his Calibre Long live CHV Long Live AIBEA B Sekhar SBTEU

Siva Subrahmanyam kv said...

long live B SEKHAR, SBTEU.
during 1987, 4 years BPS had become 5 years BPS in the name of TIME NEEDED for NEGOTIATIONS.Later, crystal clear video conferencing facilities have come. Honourable Courts are conducting judicial process through video conferencing. But, our UFBU & IBA took 28 long months to reach the climax. What were our CHARTER OF DEMANDS and WHAT WE GOT NOW through these trusted, experienced LEADERS ? SPEAK FROM YOUR HEART. WRITER FROM THE BOTTOM OF YOUR HEART. 10 lakhs of bankers, 40 lakhs of their dependent family members are feeling as if they are in THE TITANIC ship. Atleast, after the release of Pay Scales Structures and other related aspects of Tenth BPS, I am sure that you too will certainly agree with the version of the majority.You being the staunch supporter of trade unionism in banking industry, please appeal to the leaders to bring down the RATE OF INTEREST ON LL STAFF LOANS & CLEAN OVER DRAFT ACCOUNTS to 4% SIMPLE INTEREST w.e.f. 01.04.2015 IN PLACE OF PRESENT higher rate of interest. Employer should not do much much more interest business with the Employees.
Let the 1st, 3rd, and 5th SATURDAY timings should be as it is. i.e. present 10am to 2pm. Please appeal to Comrade CHV to urgently file PIL in all HIGH COURTS & in SUPREME COURT for directing the government of india to enforce CBI & INCOME TAX DEPARTMENT to use their trusted methods for recovery of lakhs of crores of NPAs dues. Once atleast 30% of present NPAs' dues are recovered through CBI & I.T. DEPARTMENT, another 15% growth in settled Xth BPS' pay in slip components (much more) can be paid to UFBU members.
Hence, on behalf of all our comrades, I humbly appeal to you Comrade to take up with our beloved Comrade CHV.
siva subrahmanyam kv