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Banking Sector Reforms

Public sector banks are undergoing a transformation with recognition of increasing NPAs and efforts to recover money from big wigs.Asset reconstruction companies

are being set Up to manage stressed assets

There is also an effort to merge banks subsidiaries with parent to make bigger entities.Weaker bank are being merged with stronger ones .State bank subsidiaries

have merged with state bank. Though good in concept the employees are unable to cope with the new dispensation. Their work load has got increased enormously

with little or no fresh recruitment.

I , as a customer had a bad experience with a state bank subsidiary. Some of my deposits got converted to payable on maturity instead of quarterly interest payment

with no satisfactory explanation.While this was shown in bank website as payable on maturity, my FD print out showed quarterly payment of interest.This issue could

not be fixed by them . I am now forced to prematurely close the deposit.

The employees say they find many customers facing issues and they spend a lot of time

only resolving them.In addition they are implementing many Govt welfare schemes for students ,senior citizen.widows involving payments thru banks.THeir work

load has enormously increased with no additional compensation

Now bank jobs are no longer attractive .

For many senior employees in sensitive positions they are being made accountable for non recoverable loans sanctioned by them years back. Many have retired and

facing the heat years later.

Many close to retirement are praying for blemish less end to their careers .
 
Govt offloaded 51% to LIC to reduce Govts fiscal deficit.IDBI bank shares plummeted to 47rs before recovering to some extent.

LIC would get a bank under its control and its a win win for both govt and LIC.

Govt values IDBI bank around Rs 80 per share.

IDBI bank shares recovered to some extent to Rs 56 .

Many who bought IDBI shares at Rs 47 made a killing.
 
There was a move to convert FD to equity to manage NPAs .
I think payable on Maturity is better for Sr Citizens . Cash your FD and go for SCSS (SBI) looks a better option than FDI - Can invest 15 L. Maximum Another option Pradhanmantri Pension scheme with LIC (Exact name of this is a tongue twister)again up to 15L They give better returns than FD as on date They are sovereign instruments unlike FD
If you are not averse to market risks go for MFs and shares- if sold after 31 march attracts Capital gains ! I have redeemed all.my MF investments except Franklin Templeton Reliance MF and Nila Sun - which have done well consistently for the past several years!
-
I am cashing all FDs and opting for SCSS and PM pension with LIC which is open till.31 March 2000
 
Public sector banks are undergoing a transformation with recognition of increasing NPAs and efforts to recover money from big wigs.Asset reconstruction companies

are being set Up to manage stressed assets

There is also an effort to merge banks subsidiaries with parent to make bigger entities.Weaker bank are being merged with stronger ones .State bank subsidiaries

have merged with state bank. Though good in concept the employees are unable to cope with the new dispensation. Their work load has got increased enormously

with little or no fresh recruitment.

I , as a customer had a bad experience with a state bank subsidiary. Some of my deposits got converted to payable on maturity instead of quarterly interest payment

with no satisfactory explanation.While this was shown in bank website as payable on maturity, my FD print out showed quarterly payment of interest.This issue could

not be fixed by them . I am now forced to prematurely close the deposit.

The employees say they find many customers facing issues and they spend a lot of time

only resolving them.In addition they are implementing many Govt welfare schemes for students ,senior citizen.widows involving payments thru banks.THeir work

load has enormously increased with no additional compensation

Now bank jobs are no longer attractive .

For many senior employees in sensitive positions they are being made accountable for non recoverable loans sanctioned by them years back. Many have retired and

facing the heat years later.

Many close to retirement are praying for blemish less end to their careers .
hi

many had problems with state bank/state bank subsidary....not with any nationalised banks.....SBI always play like

big brother policy to other nationalised banks...i never had account in SBI in my life...
 

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