Nationwide bank strike on September 7

courtesy : www.ndtv.com, press trust of india
Mumbai:  Public sector bank employees will go on a nation-wide strike on September 7 to protest the issue of new bank licences to private sector banks.

"Around 10 lakh bank employee from 27 public sector banks, 18 foreign banks, 26 private, 82 regional rural banks and 1,721 co-operative banks would be participating in this strike," All India Bank Employees Association's (AIBEA) General Secretary Vishwas Utagi said.

The bankers are also demanding an increase in the number of public sector branches through expansion from the existing 40,000 to 1 lakh.

Besides state-owned bankers, nearly 44 crore employees, including those from organised and unorganised sectors and industries would be participating in the strike, he said.

AIBEA and Maharashtra State Bank Employees Federation (MSBEF) have taken an initiative in the strike and other trade unions affiliated with INTUC, AITUC, CITU, HMS, HMKP and various other unions operating in financial sector, government sector, port trust and transport sector, would be participating in the strike, Utagi said.

"When the RBI is talking about financial inclusion, there is a need to increase the number of branches of public sector banks. We want the number to go up from 40,000 to 1 lakh, if the financial model has to become a success," he added.

The bankmen would also be protesting against the RBI's proposal of issuing additional banking licences to private sector banks. "Employment, which a major concern for the employees, is also on our priority list of demands from both Central as well as State Governments," Utagi added.

AICBEF CONVENES NATIONAL SEMINAR ON 28TH AND 29TH

THE largest trade union in cooperative banks of India, the All India Cooperative Banks employees federation (AICBEF - AIBEA) convenes a National Seminar on Problems and Prospects of Urban Cooperative Banks in India on 28th and 29th August 2010 at Thiruvananthapuram.  The seminar will be hosted by the All Kerala Cooperative Urban Banks Employees Association at VJT Hall, Thiruvananthapuram.

The seminar will be inaugurated by Sri. G.Sudhakaran, Hon'ble Minister for Co-operation, Govt. of Kerala.  The Chief guest will be Mr. C.H.Venkatachalam, general secretary of AIBEA.  The souvenir will be released by Mr. C.Divakaran, Minister for food and civil supplies, Govt. of Kerala.  Mr. Koliakode Krishnan Nair (chairman, Kerala state cooperative bank Ltd.), Smt. Rani George (Registrar of Coop. Societies), Sri.P.P.Vasudevan (President, Kerala Coop Urban Banks Federation), Mr. C.V.Padmarajan, Sri. C.D.Josson, Sri.P.P.Varghese, Smt. K.Mallika are among the prominent personalities who attends the function.

The Delegates Session will be inaugurated by Sri. Mullakkara Ratnakaran, Minister for Agriculture, Govt. of Kerala.  It is expected to be attended by the delegates from the length and breadth of the country representing the UCBs of India.

3 Co-op. Banks under RBI Scanner

courtesy : www.centralchronicle.com
United News of India
Surat, Aug 19:
Three Cooperative banks in Surat are under the Reserve Bank of India (RBI) scanner as a special audit is being carried out by the RBI since last one week.  
These banks have said to have offered credit more than their stipulated limit, due to which the financial body has initiated action. 
The District Co-operative Department has also confirmed RBI's action. 
According to sources, the three banks, where special audit is being carried out, are functioning in the city from past many years and are one of best established names. 

PAY REVISION ORDER OF UCB EMPLOYEES OF KERALA STATE RELEASED

HERE IS THE LONG AWAITED ORDER: (CLICK ON THE IMAGES TO ENLARGE AND PRINT)

page No. 11

Pay scales of urban bank employees revised

courtesy : Roy Mathew (The Hindu)

The pay scales of employees of the urban cooperative banks will be revised with effect from April 2008. The employees will get increase in salaries ranging from Rs. 1500 to Rs. 9000 a month as a result of the pay revision, Minister for Cooperation G. Sudhakaran announced here on Wednesday.

The new running scale will be Rs. 5500-39700 against existing scale of Rs. 4200-26700. The government has decided to grant four grades to sub-staff on the eighth, sixteenth, 23rd and 28th years of service. Others would be given two grades on the eighth and sixteenth years. Employees reaching stage-stagnation will get three stagnation increments.

The house rent allowance will be ten per cent of basic pay subject to a maximum of Rs. 1750 a month. The medical allowance will go up from Rs. 1350 to Rs. 1800 a month.

The Minister said that the about 3000 employees of more than 70 urban banks would benefit from the revision. The total outgo on account of the revision would be about Rs. 12 crore annually. The arrears would amount to Rs. 27 crore. The salaries were last revised in 2003.

courtesy : kerala koumudi

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BONUS 2009-2010 TO COOP EMPLOYEES : GUIDELINES ISSUED

HAPPY ONAM::::: HAPPY RAMZAN

DOWNLOAD THE BONUS 2009-2010 GUIDELINES HERE BELOW:

BONUS GUIDELINES 2009-2010

NEW BANKING LICENCES : POLICY STANCE AGAINST SMALL BANKS

courtesy : the financial express

 The new bank licences are expected to go to large entities as the RBI discussion paper released on Wednesday has been largely critical of the small banks that are limited in size and scope. The paper makes it abundantly clear that the central bank is not in favour of starting new small banks having lower entry-level capital.

The RBI’s stance is at odds with the views expressed by some experts and commentators. Raghuram G Rajan, honorary economic adviser to Prime Minister Manmohan Singh, has been favouring entry of small banks into India. A 2008 committee on financial sector reforms headed by Rajan has suggested the government to allow small banks. He reiterated this position in a recent interview to FE.

The RBI’s aversion towards small banks is based on its assessment and experience of the local area banks, urban co-operative banks and small deposit taking non-banking finance companies.

“The experience with small banks has not been encouraging. The Local Area Bank model has inherent weakness such as unviable and uncompetitive cost structures. These banks are required to confine their operations to a small area of three districts. Further, the size of operations and also the locational disadvantage of these banks act as a constraint to attracting and retaining professional staff as well as competent management,” the paper said.

ശമ്പള പരിഷ്കരണ ഉത്തരവ് ആഗസ്റ്റ്‌ പകുതിയോടെ

കേരളത്തിലെ അര്‍ബന്‍ സഹകരണ ബാങ്ക് ജീവനക്കാരുടെ ശമ്പള പരിഷ്കരണ ഉത്തരവ് ഈ മാസം പകുതിയോടെ ഒപ്പിടുമെന്ന് വകുപ്പ് അധികൃതര്‍ പ്രമുഖ യൂണിയന്‍ നേതാക്കള്‍ക്ക് ഉറപ്പ് നല്‍കി.  തദ്ദേശ സ്ഥാപന തിരഞ്ഞെടുപ്പ് വിജ്ഞാപനം പുറത്തു വരുന്നതിനു മുന്‍പ് തന്നെ ഉത്തരവ് ഇറങ്ങിയില്ലെങ്കില്‍ തിരഞ്ഞെടുപ്പ് കഴിയുന്നത്‌ വരെ കാത്തിരിക്കേണ്ടി വരുമെന്നതിനാല്‍, നടപടിക്രമങ്ങള്‍ വേഗതിലാക്കുവാന്‍ അഭ്യര്തിക്കുന്നതിനു വേണ്ടിയാണ് പ്രമുഖ യൂണിയന്‍ നേതാക്കള്‍ മന്ത്രിയെ കാണാന്‍ സമയം ചോദിച്ചിരുന്നത്.  എന്നാല്‍ തിരക്കേറിയ പരിപാടികള്‍ കാരണം മന്ത്രിയെ കാണാന്‍ കഴിഞ്ഞില്ല.  മന്ത്രി തന്നെ നിര്‍ദ്ദേശിച്ചത് പ്രകാരം വകുപ്പ് അധികൃതരുമായി യൂണിയന്‍ നേതാക്കള്‍ ചര്‍ച്ച നടത്തി.  ഈ ചര്‍ച്ചയിലാണ് ഓഗസ്റ്റ്‌ പകുതിയോടെ ഉത്തരവില്‍ ഒപ്പ് വെക്കാമെന്നു അധികൃതര്‍ ഉറപ്പ് നല്‍കിയത്.

Infy sees opportunity in co-ops, may also put Finacle on cloud

courtesy : www.dnaindia.com
an article by Sri. Praveena Sharma  04.08.2010

After putting out an offering for regional rural banks (RRBs) under its banking software product, Finacle, five quarters back,  Infosys Technologies is now eyeing the co-operative segment.

The second-largest information technology (IT) company in the country will soon launch core banking solutions (CBS) for co-operative banks.

Haragopal Mangipudi, vice-president and global head - Finacle - Infosys, believes the opportunity in the co-operative segment is ripe now with the ecosystem and infrastructure in place.

RBI punishes KC Chakrabarty, but move raises critical issues

Source : www.moneylife.in

August 04, 2010 11:57 AM 

Sucheta Dalal

RBI’s decision to strip Dr KC Chakrabarty of many important portfolios raises broader issues about transparency in the central bank’s functioning

The Reserve Bank of India's (RBI) decision to strip deputy governor Dr KC Chakrabarty of many of his powers on 3rd August has caused a flutter in the banking and financial world. While there are plenty of those who correctly argue that the outspoken Dr Chakrabarty had no business expressing a view different from the official line so soon after the monetary policy (he said that the central bank would have no option but to raise its key policy rates more to control runaway inflation), it has also raised issues about the central bank's independence and whether contrary views are permitted within the central bank.