The Hindu Business Line : ‘Covert bid to destroy public sector banks’

Thiruvananthapuram, May 11 Various banking commission reports overtly favouring reforms in the industry are loaded with the “perverse logic” of destroying the public sector banking structure in the country, according to Mr A. Vijayaraghavan, MP.

Weakening of public sector banks will be adversely reflected on the larger economy, he said while addressing a demonstration by the State Banks Staff Union (SBSU) in front of the SBI Local Head Office here on Sunday.

The demonstration was held to press various demands, including recruitment of clerical/subordinate staff; streamlining of Central, State and defence pension payouts; and scrapping of outsourcing work to third parties.

Mr Vijayaraghavan apprehended that, in this manner, there was a move by interested parties to target State Bank of India, the largest public sector bank. Policy frameworks were being tinkered with from time to time, and hand-picked men appointed at the higher echelons to push the case of vested interests at whatever cost, he alleged.

‘Inadequate staffing’

The State Bank management was not doing enough to take advantage of the growth opportunities available within the Kerala Circle, said Mr John Joseph, General Secretary, SBSU. The bank has performed well in overall growth, with the insurance and mutual fund forays too doing well.

But employee strength has not matched this growth. It has been estimated that there is a shortage of 1,200 clerical staff and 400 subordinate staff relative to the base year of 2000. It may well be the bank’s case that recruitments are taking place, but they did not match the requirements, he said.

Among those who addressed the gathering were Mr P. V. Jose, President, Bank Employees Federation, and Mr K. Rajeevan, General Secretary, State Bank Officers Association.

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