Wage revision should be calculated on working profit of banks: Venkatesh

Source: The Hitavada      Date: 10 Aug 2018 10:15:47



Business Bureau

A meeting of Joint Working Committee of Rashtriya Central Bank Officers Congress (INTUC/INBOC) and All India Central Bank Employees Congress (INTUC/INBEF) was held recently. Subhash Sawant, General Secretary of INBEF/AICBEC, Advocate Prabhakar Marpakwar, Chairman of AICBEC, O P Sharma, President of AICBEC, N D Dande, General Secreary of Rashtriya Central Bank Officers Congress (RCBOC), T K Venkatesh, Chairman of RCBOC, Subhash W Chaudhari, President and other office-bearers from all over the country were present on the occasion.

Speaking on the occasion,T K Venkatesh critised the Government for promoting private banks and not taking care of public sector banks. Reserve Bank of India (RBI) has imposed Prompt Corrective Action (PCA) on Dena Bank not to lend money to borrowers. “By doing this, the basic concept of banking is eroded. RBI should immediately wirhdraw PCA on Dena Bank,” he demanded.

He said that whatever losses public sector banks are witnessing it was not due to employees’ fault. Employees are not directly connected to the losses of the banks. Wage revision should be on the working profit of banks and not on the net profit which is after calculation of NPA. “One one hand, Government is depriving the bank employees’ legitimate wage increase and on the other, elected representatives get auto revision in their salary and perquisites,” he said. Advocate Marpakwar said, “IBA is an unregistered body and cannot decide the wage revision of the bank employees.” O P Sharma proposed the vote of thanks.