Saturday, May 9, 2015

The government is pushing its programmes through the banks!

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Business Standard
Banks must follow rules for insurance policy: unions
IANS  |  Chennai  
May 8, 2015 Last Updated at 16:18 IST
Unions in the banking sector have cautioned their members to follow procedures while enrolling members under the government insurance schemes to be launched on May 9, said union officials.
Officials at some branches of nationalised banks told IANS that they were being pressured by the management to enrol account holders under the insurance schemes prior to its launch so as to show impressive numbers to the powers that be.
"Our top management has directed lower level officials to enrol customers under the insurance scheme by any means. So employees are filling up the forms in the names of customers," an official of a nationalised bank told IANS preferring anonymity for himself and his bank.
He said it is not known how the bank would proceed further on the issue.
"Whether the bank would debit the customer account's Rs.12 (for personal accident policy) and reverse the same if he objects to the debit is not known," he said.
The scheme clearly stipulates that express consent of the account holder is a must before enrolling him/her under the policy.

"In most branches the walk-in customer will be around 100-150 a day. But there are branches that claim collection of enrolment forms of around 300 in a day. This in normal course of business is not possible," he said.
"To satisfy myself, I had called around 150 customers to check out their views on their enrolment. While they agreed over phone and promised to come to the branch and sign the necessary papers the very next day, only one turned up as promised," he explained.
Thomas Franco, general secretary of the SBI Officer's Association, told IANS: "We are aware of the issue. The insurance scheme is good but the proper procedure is not being followed. We have asked our members to see the forms are duly filled so that no problem arises at a later date."
He said employees have been advised to get the Aadhar card details or any other proof with regards to the nominees.
As per the insurance scheme framework, an account holder aged between 18-70 would be provided a personal accident insurance cover (death, total disability) for Rs.200,000.
As a part of the enrolment form, an account holder also authorises the bank to debit his/her account each year by Rs.12 till contrary instruction is given.
The problem for the bankers would be high when there is a claim while the proposal form was not signed by the bank account holder.
"Going by the scheme of things, this may turn out to be a scam. There is no hurry in enrolling account holders. Banks can do this at their own pace rather than satisfying the egos of the powers that be," C.H. Venkatachalam, general secretary of the All India Bank Employees Association (AIEBA), told IANS.
"In the name of people schemes, the banking industry has become an extension counter of the government. While talking of giving autonomy for banks, the government is pushing its programmes through the banks," he said.
"The scheme is a good one. It will increase insurance penetration. But due to the pressure from the management, it may actually end up in a mess giving a bad name to the government," one banker warned.



19 comments:

bala ji said...

Now this govt need bankers but settlement no improvement mod complete at 90 the days. We are all dogs of govt and iba. Super India jaiho thank u modi ji

BALAJI C S said...

Excellent analysis and guidance. Please print this in all the leading News Papers and in all languages

Radhe Darak said...

Employee must be aware his act what he done under pressure built up, Any complication block his retirement benefit.You must do your service compulsion not obligatory pressure. No one take responsibility in future.

Rajshekhar said...

It will be better if UFBU gives a call to boycott till satisfactory wage revision outcome

sm dev said...

Why can't the unions take up the issue with the govt instead of cautioning the staff.

sm dev said...

Almost we are near brink of the deadline for settlement. Still no information from any leader's very pathetic.

KANAGARAJ JAGANATHAN said...

The Govt. thro' its agents (CMDs and EDs) are trying to use the innocent bankmen as tool for implementing their socio economic schemes at the cost of Bank's income but deny the equal status to the Bankmen on par with the Govt. employees in terms of Pay, Pension and other amenities.

thallyan loon said...

Bank=service counter of bjp ....aam bankers are dog who bark not on his will but by the pressure from his master.....aam bankers let us shout shout and take long leave

krishna mohan said...

Public Sector Banks by doing this un remunerative business have forgotten its core business which has resulted in a steep fall in profits and increase in NPAs. Showing profitability IBA and Govt. not giving adequate hike in wages. Our unions should make a point of this. If this trend continues a day is not far away that PSB Banks will be asked to work as PDS service points.

Anonymous said...

PMVFY (Pradhan Manthri Vegetables and Fruits Yojna ) will be launched on May 22.
The Scheme which will be implemented through banks and it will cover 10 Cr households. Families will be provided fresh fruits and vegetables through the banks in this scheme.
All the officers shall be provided training on how to keep the fruits and vegetables fresh and the profit earned shall be used to pay the increased salary after 7th pay commission.
Bankers are advised to concentrate and give their best in the scheme and not to worry about 10th bipartite settlement. IBA is considering 15% hike but since the calculation is so tough it cannot be done in 3-4 years, so all bankers are advised to have patience.

thallyan loon said...

Haha pmvfv....:-)

Krishna Mohan Rao said...

No comment for Disabled employees hiked any PH Spl Conveyance Allowance

Krishna Mohan Rao said...

No comment for Disabled employees hiked any PH Spl Conveyance Allowance

Krishna Mohan Rao said...

No comment for Disabled employees hiked any PH Spl Conveyance Allowance

Krishna Mohan Rao said...

No comment for Disabled employees hiked any PH Spl Conveyance Allowance

Krishna Mohan Rao said...

No comment for Disabled employees hiked any PH Spl Conveyance Allowance

Anonymous said...

such a worst scenario i am facing in banking industry, as govt says work on PM'S sceams and after that bank official says complete ur targets.. what should b do know.. completely hope less with thus govt.

MANJIT NAGAR said...

Free ka chandan ghish le nandan




Anonymous said...

Why do our bankers blame the union leaders in words only. If they have the real courage don't pay the union levy on the arrears as it will be claimed by the unions. Instead ask them to pay the interest for the delayed period of the settlement.
CAN ANYBODY OF YOU DARE THIS ?
ALL YOU KNOW ONLY BACK BITING.