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Govt of India Not Interested in Honourable Wage Revision But Asks Bankers to  Enrol 10 Crore People in Social Security Schemes by 31st May, 2015 i.e. in about 20 days



Rajesh Goyal 

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Calling himself the “Pradhan Sevak”, Narender Modi, PM of the country told at a rally in West Bengal that it is launching three  social security schemes  - the Pradhan Mantri Suraksha Bima Yojana, the Pradhan Mantri Jeevan Jyoti Bima Yojana and the Atal Pension Yojana.  The officially these schemes will be effect from 1st June, 2015. 

We are aware that 10th BPS has already become overdue by over 900 days.   Bankers are not only getting the least of the salaries among the central, state and PS units, but are being time and again burdened which are schemes of Government departments.   The Government departments do not have to do any spade work except issuing instructions about the scheme and giving targets to PS Banks.

I just have come across a news item on internet (10th May, 2015 evening)  at Economic Times website  wherein it is reported that the Centre has exhorted bankers to work towards surpassing the target of bringing 10 crore people under the ambit of the three social security schemes launched by Prime Minister Narendra Modi, before the end of this month.   "The bankers must ensure maximum coverage upto May 31 so that the national target of enrolling 10 crore population in the country is not only achieved but surpassed," MoS PMO Jitendra Singh said.

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I think on this website we have written so many times about the ineffectiveness of various unions in banks (i.e. mainly nine  unions being represented in UFBU), that there is no need to repeat the same .     Modi Government wants to leave its impression on masses by introducing these social security schemes.    There is no doubt that it is a great job and India needs the same.   However, without the required infrastructure and manpower, banks are being forced to do this unprofitable job, which in the long run will  impact the profitability of the banks.   The lower profitability will be raised as a boggy to merge the banks and /or deny an honourable wage revision or deny the retired bankers updation of pension.   Thus, the effect of these schemes is likely to be good for the nation but it will be at the expense of bankers and their shareholders.

Unions have to play an active role in protecting the interests of the bankers and not remain mute spectators.  They at present are begging for a meeting with IBA (which is only informal association of banks and has no locus standi in the eyes of law).    For over 900 days IBA is playing a hide and seek game and has befooled the UFBU in canceling the strikes in January and Febraury 2015.   At the same time, bankers are dictated by Government to complete the target to bring 10 crore people under the ambit of the three social security schemes within less than 20 days.   No additional staff and no additional payment for the extra work load.   In the whole banking industry, there is NOT EVEN ONE  CMD who can even issue a statement in favour of bankers and press for the need to go for much better settlement that is being offered vide MoD dated 23rd February 2015, and request for additional payment to bankers for the additional workload.   All this is because CMDs are self centered and afraid that raising their voice can annoy the government which can bring to light their corrupt practices and they will be completely exposed.  Almost all of them have some or the other hidden skeletons in their cupboards.


Therefore, Jai Ho Modi Sarkar, Jai Ho UFBU and above all Jai Ho of all CMDs of PS banks.  Down Down with lazy bankers !! 


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