Wednesday, September 30, 2015

LIC employees wage revision talks Update:

Tuesday, September 29, 2015
Unions' meeting concludes
The meeting of Joint Forum of unions in LIC met today the 29th of September 2015
at Pune and decided the following programme of action to realise satisfactory
wage revision and one more option for pension:

1) Lunch hour demonstrations 6th and 13th October, 2015. 
2) ONE DAY STRIKE ON 14 th October, 2015. 
3) Lunch hour demonstrations on 16th & 18th November, 2015.
4) TWO DAYS strike on 19th and 20th November 2015.

Please note that the earlier call of no work after office hours continues.
Their wage revision was due from 01.08.2012.
It is more than 38 months!
Bank Union will now say that we are better  than 

Tuesday, September 29, 2015

Rajan's right!!

Rajan's right: Govt should compensate PSBs,
not use them as extended arms!!
(by Dinesh Unnikrishnan Aug 28, 2015 FIRSTPOST)

Mumbai: Reserve Bank of India (RBI) governor, Raghuram Rajan, has often invited criticism in the past for his blunt comments on politically sensitive topics such as Prime Minister Narendra Modi's
'Make in India initiative' and theNDA government's rocket-speed implementation of financial inclusion programmes using state-run banks.

This time, the former chief economist of International Monetary Fund (IMF)
has raised another issue of critical importance in the Governor’s overview
section of RBI’s 2014-15 annual report. The issue pertains to how public
sector banks (PSBs) are forced to undertake government’s financial inclusion
programmes, such as the Prime Minister's Jan Dhan Yojana, without getting
fully compensated for their losses.

"We should recognise that PSBs undertake public interest activities (like the
roll out of accounts under the Pradhan Mantri Jan Dhan Yojana) that are not
always fully compensated," Rajan said.

Monday, September 28, 2015

Microlending:Pradhan Mantri Mudra Yojana (PMMY)

Microlending: Jaitley may be making a mistake by putting PSBs on mission mode; it can backfire!

Finance minister Arun Jaitley has set an ambitious target of Rs 1.22 lakh crore for public sector banks (PSBs) to lend to micro and small businesses under the Pradhan Mantri Mudra Yojana (PMMY) by March 2016. Following this, state-run banks have begun credit campaigns to distribute loans pan-India.
No doubt, India’s small entrepreneurs and start-ups need urgent financial assistance. But by putting banks on a mission mode to fulfil this target in a short period, the government is piling up pressure on them and it can lead to serious credit assessment problems.
There is also a danger of the actual needy customer being ignored in the process and funds being misdirected to the wrong beneficiaries. In six months, commercial banks do not have the time to lend to put in place the systems and process to deal with such loans. Banks will, thus, be forced to randomly push money, which can add to their existing pile of non-performing assets (NPAs).
Remember, micro and small borrowers already constitute a substantial portion of banks’ bad loans.

Wednesday, September 23, 2015

IBA has released a Clarification circular on 6th, 7th, 8th Stagnation Increments on 19.09.2015
This the Second clarification circular (earlier one is dt.16.06.2015) on the above subject.
Note: it is a clarification circular only.
There is no change in the provisions already signed.


Tuesday, September 22, 2015

Working on 4th Saturday!

Punjab and Sind Bank (Public Sector Bank)-Delhi:
 Harassment: Bank Open on 4th Saturday 26 - Sept- 2015


I am a Punjab and Sind Bank employee.

Bank Management always force us to open Branch on Sunday or any long holiday to achieve targets. And always Zonal and Head office remain closed on holidays.

Management has sent an email to all Branches to open on 26- Sept- 2015 i.e. 4 Saturday is holiday

We are also human being, we also need holidays to look after and take care of our family.

Request you to kindly look into this issue?

As per X Bapartite IBA and Indian Govt has declared that 2 and 4 Saturday of the month will be holiday.


(Name avoided)

Friday, September 18, 2015

Government employees to get reviewed at 50, says DoPT !

It is time for Indian bureaucrats to remember school. Or rather, that cold and terrible sweat before exam results.
The performance of those who have either completed 30 years in service or reach 50 years of age, whichever comes earlier, will be reviewed, according to a recent Department of Personnel and Training (DoPT) order. Those who get negative reviews will be given a three-month notice to retire.

The DoPT, headed by PM Narendra Modi, has decided to let go of non-performing officers and those with suspect integrity by giving them compulsory premature retirement.

Whenever the services of a public servant are no longer useful to the general administration, the officer can be compulsorily retired for the sake of public interest, said the DoPT circular. For better administration, it is necessary to chop off the dead wood.

The relationship of the NDA government with its employees has seen ups and downs. This is not the first time that the government has sighted rules to ensure transparency. Earlier, the government had amended the All India Service (conduct) Rules, 1968, to include a 19-point guideline for bureaucrats which mandates that they maintain 'political neutrality' and 'take decisions solely in public interest', among other clauses.

Detailed instructions have been issued for reviewing the quarterly performance of officers. The DoPT cited various Supreme Court observations for assessment of such cases. On integrity, the circular quoted the SC: "The officer would live by reputation built around him. In an appropriate case, there may not be sufficient evidence to take punitive disciplinary action of removal from service. But his conduct and reputation is such that his continuance would be a menace to public service and injurious to public interest."

Wednesday, September 16, 2015

Backdoor Privatisation?

What are small banks
The small finance bank will primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
What they can do
- Take small deposits and disburse loans
- Distribute mutual funds, insurance products and other simple third-party financial products
- Lend 75% of their total adjusted net bank credit to priority sector
- Maximum loan size would be 10% of capital funds to single borrower, 15% to a group
- Minimum 50% of loans should be up to 25 lakhs
What they cannot do
- Lend to big corporates and groups
- Cannot open branches with prior RBI approval for first five years
- Other financial activities of the promoter must not mingle with the bank
- It cannot set up subsidiaries to undertake non-banking financial services activities
- Cannot be a business correspondent of any bank
The guidelines they need to follow
- Promoter must contribute minimum 40% equity capital and should be brought down to 30% in 10 years.
- Minimum paid-up capital would be Rs 100 cr
- Capital adequacy ratio should be 15% of risk weighted assets, Tier-I should be 7.5%
- Foreign shareholding capped at 74% of paid capital, FPIs cannot hold more than 24%
- Priority sector lending requirement of 75% of total adjusted net bank credit
- 50% of loans must be up to Rs 25 lakh
Backdoor Privatisation?

The Reserve Bank of India (RBI) on Wednesday granted 10 entities in-principle licences to open so-called small finance banks—another move towards expanding access to financial services in rural and semi-urban areas.

Ujjivan Financial Services Pvt. Ltd, 
Janalakshmi Financial Services Pvt. Ltd and 
Equitas Holdings Ltd are among the 10 entities. 
The others are Au Financiers (India) Ltd, 
Capital Local Area Bank Ltd, 
Disha Microfin Pvt. Ltd, 
ESAF Microfinance and Investments Pvt. Ltd, 
RGVN (North East) Microfinance Ltd, 
Suryoday Micro Finance Pvt. Ltd, and 
Utkarsh Micro Finance Pvt. Ltd.

Small finance banks will offer basic banking services, accepting deposits and lending to unserved

Those who want to fully understand E.V. Ramasamy @ Thanthai Periyar
(17.09.1879 to 24.12.1973)   may read this article.

137th Birth Day!

About Myself
  • I express, plainly and openly, thoughts which occur to me, and which strike me as right. This may embarrass a few; to some this may be distasteful; and a few others may even be irritated; however, all that I utter are proven truths and not lies.
  • Not that all the people of the world should act according to my wish, but that come what may, surely in politics and in public life, human justice alone not justice as prescribed by any epoch or religion. Should be imposed; such is my desire.
  • As far as I am concerned, I was never a party man. I have always been a man of principles.
  • Till the end of my life, I shall never canvas for a vote. I shall not even expect a word of praise from any quarter.
  • I am under no necessity to permanently support anyone for gaining selfish ends. I see no wrong at all in supporting that person who does good to us, Who strives for the removal of our social degradation even if he is a foreigner.
  • Decide for yourselves as to what you should thing of those who say there is God, that He is a the Preserver of Justice and that He is the Protector of All, even after seeing that the practice of Untouchablity in the form of man being banned from human sight and contact, from walking into the streets, from entering the temples and drawing water from a tank, is rampant in the land and yet that land is spared from being razed by an earthquake, burnt by the fiery lava of a volcano, engulfed in a deluge from the ocean, submerged in the chasm of the earth, or fragmented by thunder-storm.
  • Why is it that a foreigner is required to find out the height of Himalays, while we claim to have discovered the Seven Worlds, above and the Seven more below; why is that when we claim to have the ability expound Lord Nataraja's Cosmic Dance, the construction of this simple loud speaker in front of us is an enigma; we should really contemplate on these aspects. You should come forward to use reason to enlarge your general knowledge.
  • Man is considered superior to other beings in this world, because he has limitless capacity for knowledge; People in other lands have advanced greatly, utilizing this knowledge. But our countrymen owing to lack of use of this knowledge are abjectly deteriorating. Stating that ours is a land of enlightenment, we build tanks and temples; in other lands, men fly in space and amaze the whole world.
  • What we need today is growth of knowledge, in order to advance in every field. Knowledge should have its sway.
  • It is through rationality that man's longevity has been increased and his mortality has been significantly reduced.

Sunday, September 13, 2015

New Android App for my blog

I have created an android App. for my Blog
 " Indian Bank kumar".
(An amature attempt)
It is free.
Available at Google Play Store.
Pl download in your smartphone ,read and post your comment to me.
For various heads like service condition, welfare measure,
Leave rules etc.,
press "Home" button in the app.
Go to Google PlayStore=>application=>search=>type " Indian Bank kumar"=>download

Medical insurance implementation

Which Banks deviated?
What are the deviation?
Whether calling for option from Retirees a deviation?
No clarity.

AIBEA/GS/2015/58                                                                                                           Date. 11-9-2015

Chief Executive,
Indian Banks’ Association

Dear Sir,

Reg: Revised Scheme for reimbursement of hospitalisation expenses

You are aware that in response to our demand for 100% reimbursement of hospitalisation expenses, after a lot of serious deliberations and discussions, a revised scheme has been put in place in the recent 10th Bipartite Settlement dated 25-5-2015.

The details of the Scheme are narrated under Schedule IV of the Settlement.  The Scheme to be worked out between IBA/Banks and Insurance companies are also provided as Appendix I and II.

Besides various details of coverage and entitlements under the scheme, the Scheme provides for coverage of Rs. 3 lacs and Rs. 4 lacs + Rs. 100 as Corporate Buffer which means that claims beyond Rs. 3 lacs and Rs. 4 lacs would be entertained upto and within the Corporate Buffer.

The definition of family is also well defined under the Scheme

New Beginning

Wednesday, September 9, 2015

What is available cheap in India?

What is available cheap in India?
It is “Cheap Labour”. 
“Haves exploiting have-nots”
Entry-level salaries in India are amongst the lowest in the Asia Pacific region, a study by professional services firm Towers Watson says. 

The average monthly starting pay in India is around $400 (Rs 24,000), less than one-fifth of the equivalent paid in South Korea and Singapore, said the study by Towers Watson's Data Services. 

Graduate Indian employees sit towards the bottom of the Asia Pacific countries in terms of starting salary, it said, adding that it augurs well for  the 'Make in India' campaign as this would give the MNCs a competitive advantage over other Asia-Pac countries. 

"Although dependent on prevailing exchange rates, the findings clearly highlight India's position as a competitive and attractive workforce and talent market," said Sambhav Rakyan, Data Services Practice Leader, Asia Pacific at Towers Watson. 
Out of the top 11 Asia Pacific economies, the average monthly Indian starting salary was ranked ninth. 

"The disparity in salaries also illustrates how a large knowledge pool and a significant cost arbitrage makes India a front runner in providing outsourced services. After achieving great success in IT/BPO, India can now become a natural choice for other sectors, like manufacturing," he added. 

Further up the ladder, wages for experienced professionals at middle management levels in India are slightly more competitive, but still below their Asia Pacific peers. 

Notwithstanding the recent push in its manufacturing sector and popularity of the IT sector, an engineering manager in India earns an average salary of USD 56,530 -- almost half of his Chinese counterpart (USD 112,070) and one-third of his Singaporean counterpart (USD 151,168), the report said.

Monday, September 7, 2015

updates in my blog

Dear comrades ,
I have updated my blog with headings (right under title)
1. Service condition
2. D.A. History
3. Pension/NPS
4. Staff welfare
5, Medical Insurance Policy
    (power point presentation)
7. FAQ (under construction)

you may refer and download the contents at anytime.

Sunday, September 6, 2015


What is OROP? (One Rank One Pension for Ex-Servicemen)

One Rank One Pension’ basically means that retired soldiers of the same rank, who have retired after serving for the same length of service, will receive the same pension, irrespective of the date/year of their retirement.

A Pay Commission sits every 10 years and gives recommendations for enhancing the pay and allowances of the serving personnel based on the various factors like inflation, price hikes, and increase in living expenditures to meet the explicit needs of the lifestyle befitting the stature of a defence officer, etc.

Pension of the officers superannuating is based on the last salary drawn by them at the time of retirement.

Hence, with each consecutive Pay Commission, the military veterans who retired earlier received lesser pension as compared to those who retired later with the same rank and length of service.

Currently, all pre-2006 (the year the 6th pay panel report became effective) pensioners receive lesser pension than not only their counterparts but also their juniors.

Friday, September 4, 2015

It has been an unprecedented strike of millions of workers at the call of Central Trade Unions. Response has been as never before. It is the biggest strike ever in the country.
This strike has been called by 10 Central Trade Unions. It has been supported by thousands of local unions, unaffiliated associations and federations. It is the largest unity of the trade unions that has done miracle. All sectors of the economy are affected.
The strike received the all-out support of the people. The strike call was given against Govt.negative response to 12 point charter, the main among these being the aggressive steps
being taken by the Govt. to amend labour laws in favour of corporates.
We congratulate and salute the gallant workers for their magnificent response. We expect Govt. to take lesson and take steps to ameliorate the grievances of the working
masses. It must restart discussions with Central Trade Unions for concrete solution to the demands failing which the struggle will be intensified.
This strike has been so spread because of the growing discontentment among working people against anti-worker policies of the government. It is also a protest against food
price rise and failure of the government to contain the slow-down of the economy leading to heavy retrenchment and informalisation.
The strike has been unprecedented in transport, Oil, Coal, Power, Bank, State Govt. employees, Insurance, Port & Dock, Defence, Postal, Telecom and automobile industries.
Thousands of workers have been on street to make the strike as an excellent success.
Delhi has also the impact of the strike.
The Central Trade Unions condemn the police action and atrocities by hooligans on the peaceful agitation by the trade union cadres for this strike in West Bengal. It is a state
backed terrorism. We believe all the right thinking people of the country unitedly protest against the atrocities committed on the trade union cadres of West Bengal.
Despite the terrorism sponsored by the state, the undaunted trade union activists have made the strike a success. We greet them.
There has also been lathi charge in different parts of the country. There have also been cases of intimidation by the police and arrest of workers. In some states, despite imposing ESMA, workers have moved forward undaunted to make this strike a grand
The Central Trade Unions condemn the reckless police action.
Statewise and sectorwise details are given as hereunder:
Road Transport
In almost all the states workers of State Road Undertakings went on strike. Even Private
road transport like autos and taxis are off the road. Roadways buses in Haryana, Delhi,
Uttarkahand, Himachal, UP and other states are also off the road. Magnificent strike of
transport workers affected the normal life of the people for which CTUs are sorry.
Defence production has come to a standstill. Nearly half a million ordnance factory and
installation workers throughout the country observed today’s strike.
Banks & Insurance
Strike is 100% in financial sector. More than two millions workers both in public sector
and private sector financial institutions went on strike.
Complete strike in coal mines. Even BMS workers joined the strike.
Mines like in Iron Ore, bauxite, copper, aluminum and others was complete. The
response was tremendous.
Steel Sector
The strike has been complete in most of the places in steel sector including first time
strike in Bhilai plant.
The strike has been complete in postal department. Most of the States with
workers/employees holding protest dharna/meetings outside the offices.
Oil Sector
The strike in oil sector was complete in almost all parts of the country. Supply of Aviation
fuel to Airlines was affected leading to cancellation of some flights. LPG plants were
completed closed in all parts of the country affecting gas supply.
Nearly complete strike in BSNL throughout the country. Even BMS workers joined strike
in BSNL.
Electricity / Power Sector
The Strike was almost complete in most of the states in power sector.
Tea Gardens in Eastern India and south India were totally on strike.
The strike was total in the states of Kerala, Assam, Goa, Telangana, Pondicherry,
Rajasthan, Himachal Pradesh, Odisha, Manipur, Uttrakhand, Bihar, Chhatisgarh, and
Jharkahand, as also most all the sectors of Gov. and Public sector as well as Industrial
areas were on strike. Several of these states even traders closed down their business and
shops and so it became band like situation.
The strike was massive in the states of Punjab, Haryana, West Bengal, Madhya Pradesh,
Uttar Pradesh, Andhra Pradesh, Tamilnadu, Delhi & Meghalaya where some of the
sectors were on hundred percent strike.
It was heartening to note that some of the establishments and industries have gone on
strike after almost decades like in Bhillai, Iron Ore Mines, BHEL and some steel plants.
Most of the Auto and Taxis went off the road in Delhi & NCR as well as in several towns
and cities in India.
Rail Roko also took place in several areas in various states.

Tuesday, September 1, 2015

L.I.C enter into its 60th, Diamond Jubilee year!!



Life Insurance Corporation of India nationalized in September 1st, 1956.

Some Statistics About L.I.C.:
Government Capital= Rs. 5 crore (only)
Policy Holders           = 30 crores
Asset                           = Rs.20.31 lac crores
Dividend paid to Govt.,= For 2014-15 is Rs.1803 crores
                                             From 2001 to 2015 = Rs.13000+ crores
(Can you image this much huge dividend for 5 crore capital)
Settlement of Death claims = 99.51%
Settlement of Maturity claims= 99.78%
Market Share (even after entrance of private companies)=78%
Investment in Govt., Bonds and Social Schemes=Rs. 12.86 lac crores.
Employees : More than 1,25,000 and Agents more than 12 lacs.
Govt. wants to privatise this “Golden Egg yielding Goose” to private corporates.
One of the demands of Sep 2nd, 2015 strike is “Don’t privatise  L.I.C. “