Engagement Of Retired Bank Staff On Contract Basis

There is acute shortage of employment opportunities for unemployed youth in out country. There s no doubt in it .

Due to rise in unemployment in our country, youth are resorting to anti-social and crime activities which may eventually disturb social peace and harmony in near future.

In such situation it is very much undesirable, unjustified, and improper that bank management appoint the retired bank staff on contract basis just as private companies use to do in our country.

I request Prime Minister of the country to take appropriate steps to stop this newly cropped up unhealthy practice of bank management. Rather I would like to suggest him to reduce retirement age from 60 to 55 or 50 so that new vacancies are generated and unemployed youth get additional scope for employment.

Those officers or staffs who have served any organization for two or three decades, they may at least survive on interest income or on pension or earn some money by doing business investing their accumulated money which they could save  during their service life. But those individuals who have got no employment or who do not have enough capital to start any business activity are unable to manage their family needs even after spending lacs of rupees on getting education in costly higher study institutes. 

It is worthwhile to mention here that private banks are managing their banking activates by junior staff very well and this is why average age in private banks is less than 30 whereas that in public sector banks it is more than 45.

Bank management falsely cry for senior and experienced employees. They are ready to promote officers to executive cadre even if he or she has serving experience of only 5 to 10 years provided he or she is number one Yes-man and flatterer. On the contrary the same management of the bank does not give value and respect to those who are serving the same bank for last two to three decades sincerely and honestly.

There is no doubt to me that clever and corrupt top executives of all public sector banks are putting false, fabricated, concocted  and improper logics to get relaxation in promotion process and falsely shed crocodile tears on availability of senior and experienced staff in their bank, they fraudulently cry that huge number of staff are retiring in near future.

Retirement is a not a new phenomenon in any industry or in any bank. They simply befool the officials of RBI and MOF to give favour to a few officers of their choice in promotion processes every year and it is unfortunate that officials in RBI and MOF always accede to ill-motivated demands of top management of banks. 

Even if it is assumed that there is shortage of experienced senior manpower in bank, the question arises who are responsible for such mismanagement, such shortage and compulsion for reappointing the retire staff .It is only they who are accountable and punishable for not managing human resources and for not planning manpower in best suitable manner keeping future requirement in their vision. It is they who did not have vision for future shortage when they use to plan.

What for they spend crores or rupees every year on training system and planning system when they could not make even twenty or thirty year old experienced officer competent enough to shoulder the responsibility of higher post.  

It is ridiculous that when public blames top management for campus hiring the same breed of top ranked officer these clever officers put the excuse that they need young officers who can shoulder bank work in better way. They plead that existing staff are not competent enough which forces them to recruit persons from campus.When people ask for not recruiting retired staff , the same bank management say that experience is the key to success.

 It is further to note that individuals recruited for the post of civil services by UPSC can manage entire district but it is regrettable that the officers recruited in bank (after taking bribe) are unable to should responsibility of bank.A Finance Minister who has got no knowledge of banking can dictate terms to top CEOs of great banks and issue guidelines for bankers to follow but bank staff having experience of two to three decades are not found fit for promotion to scale II or scale III or scale IV by members of Interview panel who conducts interview for promotion of an officer from one scale to other.tested and attested service of an officer is fount unfit in  two to three minutes of interview by promotion committee.

Bank management want relaxation in promotion process to promote officers of two or three years experience only because they need not performer but flatterer. This is why they prefer retired flatterer for appointing in bank on contract basis then to rely on existing manpower who are stagnating and facing humiliation in the hands of juniors elevated to higher post. This is the root cause why top bankers always put focus on continuity of interview in promotion processes so that they may reject officers who are not Yes-man.

Otherwise they have plenty of senior and experienced officers to whom they do not to promote. After all when majority of top ranked officers are facing charge sheet for various irregularities, how can they dream of taking wise decision for the benefit of the bank they serve.

 And it is most unfortunate that directors representing various fields and appointed by GOI from outside are silent spectator of all what in happening in Board of the bank. These inefficient and unskilled directors are simply putting their signature on every resolution placed before the Board of directors of these banks.

This is why one after other scam takes place, bad debts goes on increasing , cases of fraud goes on increasing . All regulating agencies sleep in deep slumber for entire year and they come to senses only when media men or some private companies like Cobrapost carry out sting operation to expose the irregularities of the banking system. 

Chit Funds are looting hard earned money of poor and innocent in entire country but the officials of RBI and that of SEBI are unaware of it as long as promoters of a chit fund company fly away and when cheated depositors and media men cry in protest. This is India where act after acts are passed against dowry or rape or corruption but the evil goes on spreading and ballooning.

I therefore once again request Prime Minister, RBI officials and Finance Minister to ponder over reducing retirement age for all staff working in bank or state or central government offices and they must stop practices of recruiting retired employees on contract basis immediately.

Bank union against hiring retired staff--          Business Line

KOCHI, APRIL 23:  

Appointment of retired bank employees on contract basis is detrimental to the prospects of existing staff and denies job opportunities to unemployed youth, according to Syndicate Bank Staff Association (SBSA), an affiliate of the National Organisation of Bank Workers (NOBW) and Bharatheeya Mazdoor Sangh (BMS).

Describing the trend as “nothing but outsourcing,” K.S. Bhat, national secretary of SBSA, condemned the appointment of retired executives/employees as recovery adviser, recovery agents, investigating officers, inquiry officers etc on a large scale.

Inaugurating the regional meeting of SBSA and Syndicate Bank Officers Organisation (SBOO) here, Bhat alleged that contract appointments of ex-officials have led to “unethical practices, bordering on internal frauds in many cases and to influencing the proceeds of investigations.”

He said hundreds of retired people have been appointed as recovery agents. Branch managers, who are instrumental in sanctioning loans under their discretionary powers, on their retirement are entrusted with the recovery of the same loan.

He said the practice would lead to underhand dealings and the damage would outweigh the benefits.

http://www.thehindubusinessline.com/industry-and-economy/banking/bank-union-against-hiring-retired-staff/article4647292.ece