Hyderabad, Feb 28: All India Bank Employees' Association (AIBEA) on Wednesday suggested Finance
Minister Arun Jaitley to convene a a tripartite meeting of the Finance
Ministry, Indian Banks Association/Bank managements and Apex Bank Unions (UFBU)
immediately under your personal guidance so that concrete and concerted
measures are taken in the banking sector.
We request your immediate attention for necessary advice to
the Banks not to indulge in mass transfers of officers and employees, AIBEA General
Secretary Ch.Venkatachalam said in a letter to Mr Jaitley.
He said we had sent our communication on 21-2-2018 on the ongoings in the banking sector on account of the NIMOnia fraud in Punjab National Bank. We believe that the issues raised by us are receiving your attention for necessary action.
Already the entire banking sector stands exposed as to its credibility and reputation of being trustees of public money. The huge PNB fraud caused on account of the wanton corrupt activities of billionaire jeweller Nirav Modi in collusion with some bank officials at different levels and compounded by gross negligence in supervision at multiple levels of management, RBI not excluding. The role of auditors also cannot go unquestioned, he said.
Unfortunately, public sector Banks and the entire workforce are being painted with an uncharitable black brush and we feel that restoring the faith and confidence of the common public in general and banking clientele in particular is the top most priority at the moment.
Mr Venkatachalam said various types of investigations are in process and they will take matters to the logical end. Steps are also required to be taken to secure the dues from Nirav Modi and associates to the various Banks.
In the meantime, as pointed out in our earlier letter, in the name of instructions from Chief Vigilance Commissioner (CVC), Bank managements are busy in transferring the employees and officers. We have no conflict with the CVC guidelines as they are well-intended. We may also inform you that by and large these guidelines are being implemented by the Banks. But there is so much of over-reaction after the PNB fraud and bank managements inform us that they are under pressure to transfer enmasse employees and officers based on the cut-off date of 31-12-2017.
Every year Banks are undertaking the process based on 31st March cut-off and combining the same along with the recruitments and promotions so that the guidelines are properly implemented.
Because of the unilateral shift in cut-off date, there appears to be more number of staff not transferred but in any case the same would be covered as on 31-3-2018 in the ensuing process.
But because of recent CVC instructions, bank managements are transferring employees and officers which is unwarranted. Secondly, this month, being the last of the current financial year, is most crucial for every Bank, the top Union leader said. UNI
He said we had sent our communication on 21-2-2018 on the ongoings in the banking sector on account of the NIMOnia fraud in Punjab National Bank. We believe that the issues raised by us are receiving your attention for necessary action.
Already the entire banking sector stands exposed as to its credibility and reputation of being trustees of public money. The huge PNB fraud caused on account of the wanton corrupt activities of billionaire jeweller Nirav Modi in collusion with some bank officials at different levels and compounded by gross negligence in supervision at multiple levels of management, RBI not excluding. The role of auditors also cannot go unquestioned, he said.
Unfortunately, public sector Banks and the entire workforce are being painted with an uncharitable black brush and we feel that restoring the faith and confidence of the common public in general and banking clientele in particular is the top most priority at the moment.
Mr Venkatachalam said various types of investigations are in process and they will take matters to the logical end. Steps are also required to be taken to secure the dues from Nirav Modi and associates to the various Banks.
In the meantime, as pointed out in our earlier letter, in the name of instructions from Chief Vigilance Commissioner (CVC), Bank managements are busy in transferring the employees and officers. We have no conflict with the CVC guidelines as they are well-intended. We may also inform you that by and large these guidelines are being implemented by the Banks. But there is so much of over-reaction after the PNB fraud and bank managements inform us that they are under pressure to transfer enmasse employees and officers based on the cut-off date of 31-12-2017.
Every year Banks are undertaking the process based on 31st March cut-off and combining the same along with the recruitments and promotions so that the guidelines are properly implemented.
Because of the unilateral shift in cut-off date, there appears to be more number of staff not transferred but in any case the same would be covered as on 31-3-2018 in the ensuing process.
But because of recent CVC instructions, bank managements are transferring employees and officers which is unwarranted. Secondly, this month, being the last of the current financial year, is most crucial for every Bank, the top Union leader said. UNI
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