Tough Times Ahead for Bankers : Need for SS Mundra To Rise To - TopicsExpress



          

Tough Times Ahead for Bankers : Need for SS Mundra To Rise To Occasion To Play The Role of Bridge Between Bankers and GoI / RBI-By Rajesh Goyal Today (25/08/2014) I am writing on a topic on which hardly any journalist from Indian newspapers will venture, mainly because of their lack of first hand experience in the banking. I decided to write this article due to following recent developments in the banking sector:- (a) Arrest of CMD of Syndicate Bank in a bribery case; (b) Unearthing of frauds of FD scams in Dena bank and OBC; (c) Launching of its flagship programme- D Jan Dhan Yojana by govt The arrest of CMD of PS Bank has certainly sent a strong message among the top brass in the banking sector but at the same time has tarnished the image of banking fraternity which will b difficult to repair A negative image of bankers is being created among general public. Once bankers have such a negative image, bankers can not expect to enjoy respect in the society and there will be no supporters for an honourable wage settlement. Thus, I am afraid now bankers are likely to be caught in a vicious circle where they will get lower wages, which will result in low talented recruitment in banks, which will result in poor quality of service, which will finally be reflected in the poor results.Soon they have to fight for their respectable status in society. Government has to take steps in a systematic manner so that there is minimal dent on the reputation of the banking sector as a whole. This is also an opportunity for UFBU to get an honourable settlement from IBA / GoI. Let them show their strength and declare that with the existing infrastructure it will not be possible to go for financial inclusion to the level desired by Government. Let government come out with a proposal to accept 25% increase in wages as demanded by UFBU, and in return let bankers help the government in smooth implementation through outsourcing some of this work and overseeing that KYC norms are not compromised etc.
Posted on: Tue, 26 Aug 2014 10:42:31 +0000

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