The Hindu Business Line : SBBJ plans incentives for `best performing officers'

The Human Resource Department of the bank has invited the eligible performers in each zone to submit the `business performance' data by May 31, so that the list could be announced by end-June.

Disclosing this to Business Line, Mr M. Ramaswamy, Chief General Manager, SBBJ, said the scheme was formulated for introduction quite some time back, but was put on hold as the same had to be cleared by the Government. `It has now been decided to implement the scheme for the 2005-06 fiscal, but within the parameters placed by the Government.'

The cash incentive, though not comparable to the sums paid by private IT companies or new generation banks, would be `reasonable', asserted Mr Ramaswamy.

The proposed incentive has been matched to the officer's scale and ranges from a low of Rs 4,500 to a high of Rs 50,000. But that is not all.

There are a lot of `ifs' and `but' to the eligibility criteria. Branch heads of loss making branches (as on March 31, 2006) in metropolitan and urban areas would not be eligible to get the incentive under the scheme.

The scheme would also not be applicable if the branch rating has either dropped to `B' or `B' (-) in the internal audit held between April 2005 and March 2006.

Further, for DGMs of zones and AGMs of regions, if 10 per cent or more of the branches under their control have a `B' or `B' (-) rating or less than 75 per cent of such branches - profit making, the performance of such officers would not be considered under the scheme. Above all, the officer - be it a Branch Head, AGM or DGM, should have remained in that position for 9 months or more in the 2005-06 fiscal.

According to SBBJ sources, it is being implemented on an experimental basis this year and based on the feedback, would be suitably modified during the coming years.

Branch network

The bank is expanding its branch network to include 20 new branches during the current fiscal.

The bank has a network of 832 branches at present, with over 81 per cent of them located in Rajasthan.

The entire network has been brought under the Core Banking Solution (CBS) platform.

More Stories on : Human Resources | Public Sector Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Fallout of interest rate uncertainties

StanChart to grow Prime Financial

Govt may drop plan to set up authority for revamp of weak PSBs

Bond trade wary of hardening rates, rising crude prices

SBBJ plans incentives for `best performing officers'

World Bank to step up assistance programme

DCB opens new branch at S.R. Nagar in Hyderabad

Fresh Exim Bank thrust for rural products

New director on SBH board