Kolkata, Apr 3 () The State Bank of India haswarned its employees against posting content on social mediathat is critical of the country's largest lender over itsfunctioning in the wake of the coronavirus outbreak.In a recent letter to chief general managers of allcircles, SBI also said action will be taken against employeeswho take to social media platforms to write messagesdisparaging the bank, its management and policies, sourcessaid on Friday."We have seen a spurt in social media posts pertainingto functioning of the bank's branches and offices... Therehave been many such posts critical of the bank not closingdown operations in context of the COVID-19 outbreak, littleappreciating the role of the bank at such a critical time,"the sources said, quoting a circular.The lender has already initiated action against two ofits employees based in West Bengal for "offensive" postsagainst the bank and a senior management official, they said.The move has met with criticism by a large section ofSBI employees, who called it an attempt to muzzle free speechand expression."Being a citizen of a democratic country, we have abroader right to express our views on social media about thesituations that affect our day lives, without divulgingdetails of our organisation or using derogatory language...this circular is an attempt to curb our rights enshrined inArticle 19 of the Constitution," said an SBI employee, whopreferred not to be named.A senior United Forum of Bank Unions (UFBU) officialtold that SBI is the only bank to have come out with sucha circular amid the coronavirus crisis.An official of the All India Bank OfficersConfederation (AIBOC) said the state-run lender's circular onsocial media posts of its employees is "definitely" a breachof their democratic rights."Indecent language in social media against banks isnot encouraged, but employees are well within rights to flagconcerns through their posts," he said.When contacted, SBI Chief General Manager, KolkataCircle, Ranjan Kumar Mishra, said the bank has a social mediapolicy in place which every employee is expected to adhere to,failing which action could be initiated."Everybody is free to express themselves on socialmedia regarding COVID-19 or any other subject, but if suchposts tarnish the image of the bank and is violative of theset code of conduct, then disciplinary action might be takenafter investigation," Mishra told .On reports that some of its employees are placed undersuspension over recent social media posts, he said such stepsare "regular internal matters of the bank".Mishra also said SBI has been largely successful inmanaging customer flow at its branches across the country amidthe ongoing lockdown, and help of local authorities is beingsought wherever required. RBTSK SK

COVID-19: SBI warns employees of action over social media posts against bank

<ul><li>The <keyword id="6721984" type="UNKNOWN" weightage="20" keywordseo="All-India-Bank-Officers-Confederation">All India Bank Officers’ Confederation</keyword> (AIBOC) and the All India Bank Employees Association (AIBEA) are not on board with the Indian government’s plans to disinvest stake in banks.</li><li>According to them, selling government stake in public sector banks and Life Insurance Corporate (LIC) would threaten the stability of the sector.</li><li>Both organisations are threatening to strike if the government moves forward with its plans as announced by Finance Minister Nirmala Sitharaman during the Budget 2021-22 on February 1.</li></ul>Banking unions aren’t happy with the government’s plans to divest stake in public sector banks (PSBs). The All India Bank Officers’ Confederation (AIBOC) released a harshly worded statement opposing the announcements by Finance Minister Nirmala Sitharaman during the Budget 2021-22. “Four officers' organisations representing the entire fraternity of officers in the banking industry deeply deplore and resolutely oppose the proposal of the Honorable Finance Minister Nirmala Sitharman in Union Budget 2021, which propose the privatisation of two public sector banks and one general insurance company,” read the <a href="https://twitter.com/officialAIBOC/status/1356394944710156288/photo/1">statement</a>. The All India Banks Employees Association (AIBEA) — the largest trade union of bank employees which consists of officers as well as clerical staff — is also against PSB privatisation. “Privatising them means handing over the people’s money to private hands with vested interest,” it said in its own <a href="https://www.facebook.com/aibeazindabad/posts/697646874263176">statement</a>, warning of possible strikes. The United Forum of <keyword id="144835" type="ORGANIZATION" weightage="20" keywordseo="Bank-Unions">Bank Unions</keyword> (UFBU) — an umbrella body of nine unions including the AIBEA and AIBOC — has <a href="https://www.facebook.com/aibeazindabad/posts/698159184211945">proposed</a> going on strike on February 4, either during lunch hours or after office hours. However, past attempts and strikes to halt the privatisation of public sector banks have been unsuccessful. <div type="image" title="bank strike 2_edited" msid="80668624" hostid="261" caption="&amp;lt;p&amp;gt;Employees of Allahabad Bank demonstrate during an all India bank strike called by United Forum of Bank Unions in Patna in 2017 against privatisation of government banks and demanding implementation of Parliamentary Committee&amp;lt;/p&amp;gt;"></div> Bad banks and more FDI in insurance is a bad idea say unions The AIBEA is also against the idea of a <a href="https://www.businessinsider.in/budget/news/indias-upcoming-budget-2021-22-may-set-out-a-framework-for-setting-up-a-bad-bank-to-handle-the-expected-influx-of-bad-loans-post-pandemic/articleshow/80343129.cms">bad bank or Asset Reconstruction Company (ARC)</a> to house non-performing assets (NPAs). According to them, the idea will only remove corporate defaults from the books, not fix the underlying issue. A number of experts too believe that a <keyword id="6605010" type="UNKNOWN" weightage="20" keywordseo="bad-bank">bad bank</keyword> could create a <a href="https://www.businessinsider.in/finance/banks/news/heres-why-indias-biggest-banking-stocks-went-nuts-today-and-what-they-missed/articleshow/80626013.cms">moral hazard.</a> Furthermore, the unions are displeased with the government decision to increasing the cap of foreign direct investment (FDI) in the <a href="https://www.businessinsider.in/policy/news/government-proposes-higher-foreign-direct-investment-in-insurance/slidelist/80627894.cms">insurance sector from 49% to 74%</a>. This will give foreign companies controlling stake in insurance companies. <div type="image" title="bank strike 3_edited" msid="80668659" hostid="261" caption="&amp;lt;p&amp;gt;Members of United Forum of Bank Unions staging a protest opposing privatisation of public sector banks at State Bank of India in Bangalore in 2008&amp;lt;/p&amp;gt;"></div> Where is the government selling stake? The aforementioned ‘general insurance company’ refers to the <keyword id="6368369" type="ORGANIZATION" weightage="20" keywordseo="life-insurance-corporation-of-india">Life Insurance Corporation of India</keyword> (LIC). While the names of two public sector banks have not been specified, analysts believe the most likely candidates are <keyword id="6358007" type="COMPANY" weightage="20" keywordseo="bank-of-baroda">Bank of Baroda</keyword> (BoB) and <keyword id="62034" type="CITY" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> (PNB). Both these banks have seen their balance sheets extended with the merging of smaller public sector banks. BoB absorbed Vijaya Bank and Dena Bank. PNB took on United Bank of India and the Oriental Bank of Commerce. In July last year,<a href="https://www.businesstoday.in/current/economy-politics/niti-aayog-recommends-privatisation-of-3-public-sector-lenders/story/411691.html"> NITI Aayog</a> recommended the privatisation of UCO Bank, Punjab &amp; Sind Bank and Bank of Maharashtra. <div type="image" title="bank strike 4_edited" msid="80668694" hostid="261" caption="&amp;lt;p&amp;gt;Employees stage a protest in support of the two-day nationwide strike against the Privatisation of IDBI Bank and demanded that stringent measures should be taken to recover the Bad Loans on 10 August 2018&amp;lt;/p&amp;gt;"></div> ‘Disinvestment poses a threat to the dominance of PSBs’ The unions believe that disinvestment proposals will weaken India’s self-reliance and make them dependent on foreign capital and the private sector. India now has 12 PSBs, down from 27 in 2017. They collectively contribute to around 60% of banking in the market. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Balance sheet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage of ownership by public sector banks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deposits </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loans and advances </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">60% </td></tr></tbody></table> Unions believe that more private players in the sector could lead to instability. “The dominance of public sector banks insulated the Indian economy from the consequences of the 2008-09 financial crisis,” the unions’ justify. ‘Government needs public sector banks to implement its policies’ AIBOC also asserts that government schemes like the Jan Dhan Yojana and MUDRA have been successful because of PSBs and their rigorous implementation. During the pandemic, the unions say that PSBs were instrumental in implementing measures to provide liquidity and fiscal stimulus. “We consider any proposal for privatisation of public sector banks is retrograde, ill-conceived and thoroughly inimical to the national interest,” said the statement. But, what about the rapidly increasing bad loans? PSBs have often been criticised for accumulating bad-debt dues to big-ticket corporate defaults. This leads to massive haircuts through the debt-recovery channel. AIBOC explains that despite that being true, PSBs have been able to register positive operating profit. “In this backdrop and at a time when the national economy is still reeling under the impact of a severe recession caused by the COVID-19 pandemic, we cannot fathom why the Union gGovernment is keen on the privatisation for public sector undertakings in general, and PSBs in particular,” it said. The unions also say that the divestment plans will only serve the interests of corporates with a lot of debt. “Any step towards privatisation, dilution of government equity or further mergers and amalgamation of public sectors would face stiff resistance, not only from our organisation but also from all the major stakeholders,” warned AIBOC asking the government to retract its proposal. “The Union Government should rather initiate policy discussion on the ways and means of reforming and strengthening the public sector banks,” it proposed. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/no-covid-cess-but-agri-infra-cess-will-hike-prices-of-fuel-imported-alcohol/slidelist/80629471.cms">No COVID-cess but agri infra cess will hike prices of fuel, imported alcohol</a> <a href="https://www.businessinsider.in/budget/news/indias-health-budget-sees-a-137-jump-in-2021/slidelist/80626468.cms">India’s health budget sees a 137% jump in 2021</a> <a href="https://www.businessinsider.in/budget/news/india-budget-2021-updates-and-highlights-from-nirmala-sitharaman-speech/articleshow/80624564.cms">Union Budget 2021 highlights: Pensioners over 75 years need not file IT returns, says FM</a>

Bank unions strongly oppose divestment, a bad bank and threaten to strike

Banking operations at public sector banks across the country were badly hit yesterday due to a nationwide strike by the employees. The employee unions are demanding a wage revision. 
 The strike was called as the employee unions and the <keyword id="110491" type="ORGANIZATION" weightage="100" keywordseo="Indian-Bank-Association">Indian Bank Association</keyword> (IBA) failed to settle the wage dispute. While the unions are asking for a 23% hike, the IBA is ready to give just 11%. Unions have threatened to further intensify their agitation if their demands are not met. 
 
Banks had given prior information to customers about the inconvenience. "The United Forum of Bank Union (UFBU) has given a notice to IBA calling for nationwide bank strike on November 12 and All-India State Bank Officers’ Federation and All-India State Bank of India Staff Federation being a part of UFBU will also participate in the said strike," SBI had said.

Banking Services And Markets Suffer
Due To Strike

Around 10 lakh <keyword id="6477319" type="UNKNOWN" weightage="100" keywordseo="Bank-Employees">bank employees</keyword>, belonging to public and private sectors, have decided to observe a day-long strike on July 29, as a protest against the "anti-people" banking reform policies that the centre has announced. 
 
The United Forum of Bank Unions (UFBU), which consists of nine trade unions across the country, have around 10 lakh bank employees and officers, all of which would be taking part in the strike. 
 
The employees have several demands, including not to privatise public sector banks or to increase private capital in such banks, while also protesting against Foreign Direct Investment in the banking sector. 
 Other than this, the unions are also opposing move to privatise regional rural banks, co-operative banks, consolidate and merging banks among others, said All India Bank Employees Association (<keyword id="327672" type="ORGANIZATION" weightage="100" keywordseo="AIBEA">AIBEA</keyword>) General Secretary C H Venkatachalam. 
 
<a href="http://www.thehindubusinessline.com/multimedia/dynamic/02414/BL23_04_BANK_2414766f.jpg">Image source </a>

10 Lakh bank employees to go on strike on 29th July, protesting against unfriendly reforms

Bank employees across India, who were supposed to go on strike on January 7, 2015 over the Indian Bank Association’s (<keyword id="50362" type="ORGANIZATION" weightage="20" keywordseo="IBA">IBA</keyword>) stance on wage revision issue, have decided to defer the strike after the IBA decided to raise its stance to 12.5%. Earlier, the IBA had offered 11% salary hike against 23% raise demanded by the United Forum of Bank Unions’ (UFBU, an association of over nine bank employee unions). 
 “IBA has improved their offer to 12.5% raise in salaries. Talks will continue today as well. Hence, we deferred our strikes that were supposed to happen today,” said <keyword id="2603828" type="UNKNOWN" weightage="20" keywordseo="CH-Venkatchalam">CH Venkatchalam</keyword>, general secretary of All India Bank Employee Association (<keyword id="327672" type="ORGANIZATION" weightage="20" keywordseo="AIBEA">AIBEA</keyword>). 
 
However, he added that the bank employees intend to go the four day long strike from January 21 to January 24, 2015 as planned earlier. The employees aim to bring the bank operations to halt for almost a week. “The relay strikes will be across the country and will substantially affect the functioning of the banks all over India as the four day long strikes will be followed by the weekend,” added Venkatchalam. 
 
According to AIBEA, the bank managements have cited decline in profits as a reason for their stance on pay hikes. However, the employees have rejected the claim. 
 
It should be noted that the strike held in the last week of November had massive implication on banking operations across the country. Several ATMs were not working while many banks remained closed due to the strike.

IBA Revises Its Stance To 12.5%, Bank Employees Defer Strike

Unhappy with the Indian Bank Association’s (<keyword id="50362" type="ORGANIZATION" weightage="20" keywordseo="IBA">IBA</keyword>), rigidity in the matter of pay hike of bank employees, over nine lakh bank employees will now go on zonal strikes in December, 2014. The IBA is the apex body of all banks operating in the country. 
	 “IBA have stuck to their earlier stand of 11% despite the United Forum of Bank Unions’ (UFBU, an association of over nine bank employee unions) flexibility in scaling down the demand to 23% hike in our salaries. Consequently, the conciliation also ended in stalemate. Hence, relay strikes in December stands. This will be followed by strikes in March,” said <keyword id="2603828" type="UNKNOWN" weightage="20" keywordseo="CH-Venkatchalam">CH Venkatchalam</keyword>, general secretary of All India Bank Employee Association (<keyword id="327672" type="ORGANIZATION" weightage="20" keywordseo="AIBEA">AIBEA</keyword>) to BI India. The AIBEA is the largest as well as the old bank employee association with nearly 5 lakh employees as members. 
	 
	The bank employees had held a mass strike on November 12, 2014 as a response to IBA’s stand on wage redistribution. “The strike was a befitting reply to the rigid approach of the IBA. Two years are over and even though 14 rounds of negotiations have taken place, the talks have not concluded as the Indian Banks’ Association is not coming forward to reach an amicable settlement,” said Venkatchalam in an internal letter to the AIBEA members. 
	 
	According to AIBEA, the bank managements have cited decline in profits as a reason for their stance on pay hikes. However, the employees have rejected the claim. 
	 
	The strike held last week had massive implication on banking operations across the country. Several ATMs were not working while many banks remained closed due to the strikes. This time, the employees will go on protests on December 2, 2014 in southern region, December 3 in the northern region, followed by strikes in eastern and northeastern region on December 4, 2014. Protests will be held on December 5, 2014 in the western region of the country. “If the matter is not resolved then these will be followed by more strike actions including indefinite strike,” stated Venkatchalam.

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COVID-19: SBI warns employees of action over social media posts against bank

PTI

Bank unions strongly oppose divestment, a bad bank and threaten to strike

Prabhjote Gill

Banking Services And Markets Suffer Due To Strike

BI India Bureau

10 Lakh bank employees to go on strike on 29th July, protesting against unfriendly reforms

BI India Bureau

IBA Revises Its Stance To 12.5%, Bank Employees Defer Strike

Purba Das

Indian Bank Employees To Go On Strikes Over Salary Issues

Purba Das