It is always advisable that office bearers of an organization are changed periodically in a democratic system. At least there should be change of person every two or three years for the post of Secretary and the President in the same way as Branch head or Regional head or Zonal head or CEO of a bank is changed every two – three years.
In a democratic country like India every political parties have been changing their Presidents periodically. Prominent Communist parties change their party president every two years. Banking Industry has inherited communist culture, but it is disheartening to mention here that staff unions and associations in these banks are dependent on a few leaders who have been occupying top posts for decades. Political parties, trust or an organization or Bank union or association of officers who consider any person indispensable on top posts are really too weak to survive for long and undoubtedly prone to corrupt practices. These organizations in fact have not developed second line of management.
Even a financial Institute cannot prosper with quality and remain in good health if the persons posted at responsible and sensitive posts are not altered periodically. Whereever the same person hold sensitive posts in a bank for a longer period it is found that the bank's intrinsic value and overall quality of its assets suffers continuous erosion and the disease of corruption spread like cancer in the system. It is such organization where whimsical promotions and whimsical posting takes place.
It is these organizations where good persons are shunted away and bad persons are promoted and placed at cream posts so that the corrupt lobby is not questioned by anyone. It is under such bad administration that person like Rathore goes on getting promotion and respectable posting whereas on the other persons like Ruchika are forced to bear with injustice meted out to them. By the time realities of corrupt person get exposed by grace of God, it is too late. Justice delayed is justice denied. There are many Rathore like executives in banking Industry too who have been getting uninterrupted promotions and getting one after other elevation in their career (at the cost of good performers) despite the fact that there were indulged in corrupt practices and they caused huge loss to banks.
Keeping in view above-mentioned bitter truth of the organization I demand those office bearers of officers association as also employees unions in all banks must be changed every two - three years. If Bank employees fail to ensure this healthy culture, perpetuation of injustice cannot be stopped and frustration among good workers will continue to rise ultimately jeopardizing the health of the bank.
I hope sensible, experienced, educated and prudent class of officers will apply their wisdom and take all possible steps to stop monopoly and dictatorial attitude of certain office bearers who have in course of time become indispensable and who are eating away fruits of hard labour done by real workers. Second line of leadership must be developed in all organization for achieving sustainable quality growth of not only assets but also that of human capital.
Danendra Jain
Ganaraj Choumuhani
Agartala
7th January 2009
Thursday, January 7, 2010
Tuesday, January 5, 2010
Traditional money lenders will now act as local banks
RBI's idea of allowing private companies to set up local banks will prove to be a blunder and lead the country back to pre nationalization era.. Already thousands of Non Banking Finance Companies (NBFC) are scattered all over the country like post offices and they are almost beyond the control of RBI and Government of India. Every year we come to know ten or fifteen NBFC promoters have closed their office and flied away from town after cheating crores of money from innocent small villagers , traders and farmers by promising them to double their money in two or three years. Similarly cooperative banks and many regional rural banks in the country are mostly running mismanaged and their assets shown in Balance sheets are mostly irrecoverable.
If small private banks are set up in all small villages, towns and cities, more and more people will be cheated, lending will be done after keeping gold as done before nationalization of banks or credit will be disbursed only after mortgaging landed properties of farmers. Same Zamindari system and exploitation of poor by money lenders in disguise of local banks will come in operation and become the way of life as was prevalent before Nationalization of banks and before freedom of India. It is not exaggeration to say that even now small traders and farmers have to depend on local money lenders and it is also an open secret that these money lenders are charging huge interest and exploiting their poverty.
When RBI is unable to control less than thirty Public sector banks and thousands of NBFC, regional rural banks and cooperative banks already in operation and doing the same job, how can RBI imagine of controlling of additional numerous private banks. If the monitoring is not possible, allowing private companies to set up local banks will prove fatal and make the life of local poor residents more miserbale.Through this new concept of local banks RBI will do nothing but add fuel to fire. Government banks are already in mess and there is no doubt in it. Even farmers and small traders cannot dream of any relief from such local banks for whom Local banks contemplated by RBI will be set up by private companies.
It is to be kept in mind that government can waive loans disbursed by government banks, but cannot force private companies to waive agricultural loan or small loans. Obviously private companies will hold full securities and charge maximum interest from needy person and extort more and more profit as private airlines are looting air passengers keeping in mind the necessity and urgency of passenger. As such, the said idea of local banks contemplated by RBI in not going to help poverty ridden person in any way. Government is indirectly attempting to discard agenda of social inclusion and leave poor person on the mercy of local goondas and local money lenders in disguise of local banks.
Every one knows that private banks cannot allow their assets to become NPA (Non Performing Assets) and cannot depend on the current legal framework and ineffective judicial remedy for willful defaulters. They may also seek the help of recovery agents to apply force on defaulters which government cannot manage to support in our country and which was vehemently opposed by RBI itself in the recent past when private banks like ICICI or HDFC used local goondas to recover their money.
Moreover setting up of lacs of local banks as visualized by RBI and promoted by private companies is against the very concept and plan of Government of India directed towards consolidation of existing banks. It is ironical that on the one hand existing banks are advised by Finance Minister to go for merger and acquisition to reduce the number of banks and on the other RBI is advising private companies to set up local banks. There is no doubt that Government of India must ponder over the idea of RBI , invite opinion from experts and seek opinion of various political parties before putting the said dangerous idea in action.
Danendra Jain
5th Jauary 2010
If small private banks are set up in all small villages, towns and cities, more and more people will be cheated, lending will be done after keeping gold as done before nationalization of banks or credit will be disbursed only after mortgaging landed properties of farmers. Same Zamindari system and exploitation of poor by money lenders in disguise of local banks will come in operation and become the way of life as was prevalent before Nationalization of banks and before freedom of India. It is not exaggeration to say that even now small traders and farmers have to depend on local money lenders and it is also an open secret that these money lenders are charging huge interest and exploiting their poverty.
When RBI is unable to control less than thirty Public sector banks and thousands of NBFC, regional rural banks and cooperative banks already in operation and doing the same job, how can RBI imagine of controlling of additional numerous private banks. If the monitoring is not possible, allowing private companies to set up local banks will prove fatal and make the life of local poor residents more miserbale.Through this new concept of local banks RBI will do nothing but add fuel to fire. Government banks are already in mess and there is no doubt in it. Even farmers and small traders cannot dream of any relief from such local banks for whom Local banks contemplated by RBI will be set up by private companies.
It is to be kept in mind that government can waive loans disbursed by government banks, but cannot force private companies to waive agricultural loan or small loans. Obviously private companies will hold full securities and charge maximum interest from needy person and extort more and more profit as private airlines are looting air passengers keeping in mind the necessity and urgency of passenger. As such, the said idea of local banks contemplated by RBI in not going to help poverty ridden person in any way. Government is indirectly attempting to discard agenda of social inclusion and leave poor person on the mercy of local goondas and local money lenders in disguise of local banks.
Every one knows that private banks cannot allow their assets to become NPA (Non Performing Assets) and cannot depend on the current legal framework and ineffective judicial remedy for willful defaulters. They may also seek the help of recovery agents to apply force on defaulters which government cannot manage to support in our country and which was vehemently opposed by RBI itself in the recent past when private banks like ICICI or HDFC used local goondas to recover their money.
Moreover setting up of lacs of local banks as visualized by RBI and promoted by private companies is against the very concept and plan of Government of India directed towards consolidation of existing banks. It is ironical that on the one hand existing banks are advised by Finance Minister to go for merger and acquisition to reduce the number of banks and on the other RBI is advising private companies to set up local banks. There is no doubt that Government of India must ponder over the idea of RBI , invite opinion from experts and seek opinion of various political parties before putting the said dangerous idea in action.
Danendra Jain
5th Jauary 2010
Saturday, January 2, 2010
What are Bank Unions doing
• Why officers and employees are not transferred out from the Mumbai, Kolkata, Delhi, Bangalore, Chennai etc. and on the contrary employees of states like Orrisa, Bihar, and Jharkhand are frequently transferred out of their states even violating transfer policies?
• Why some officers are always given rural posting whereas some other officers are even promoted without rural posting violating government guidelines in this regard?
• Why some officers are allowed to work in their Metro towns for decades whereas officers of other small towns and villages are to change their place of working every year or alternate year without any incentive or compensation?
• Is there no punishment for those executives who indulge in corrupt practices and resort to whimsical transfers to keep away all employees who may prove hurdle in their money making process?
• Why RBI remains silent spectator of ill-motivated CEOs of banks and allows the malady in banks to accumulate?
• It is worthwhile to mention here that unhappy lot of employees cannot think for and make efforts to keep bank healthy?
• Is human resource not capital in real sense in Banking Industry and for some VIP CEOs of Bank?
• Why some officers are always given rural posting whereas some other officers are even promoted without rural posting violating government guidelines in this regard?
• Why some officers are allowed to work in their Metro towns for decades whereas officers of other small towns and villages are to change their place of working every year or alternate year without any incentive or compensation?
• Is there no punishment for those executives who indulge in corrupt practices and resort to whimsical transfers to keep away all employees who may prove hurdle in their money making process?
• Why RBI remains silent spectator of ill-motivated CEOs of banks and allows the malady in banks to accumulate?
• It is worthwhile to mention here that unhappy lot of employees cannot think for and make efforts to keep bank healthy?
• Is human resource not capital in real sense in Banking Industry and for some VIP CEOs of Bank?
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