• This forum contains old posts that have been closed. New threads and replies may not be made here. Please navigate to the relevant forum to create a new thread or post a reply.
  • Welcome to Tamil Brahmins forums.

    You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our Free Brahmin Community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

    If you have any problems with the registration process or your account login, please contact contact us.

The other side.

Not open for further replies.
I came across this and thought I would share here. It makes interesting reading. and the truth hurts.

Why Blame the Arrow instead of the Shooter?

There is huge hue and cry about the proposed service charges and minimum balance to be maintained by the customers’ of State Bank of India and it is justified. The only thing forgotten is that SBI is only an arrow and the shooter is the Central Government.

The purpose of Nationalisation was to widen the territorial and regional spread of the branch network, better mobilisation of financial savings through Bank Deposits, reorientation of credit deployment in favour of small and disadvantaged classes all along the production spectrum, removal of control by a few business houses, conferring of a professional bent to Bank Managements and providing of adequate training and reasonable terms of service to Bank Staff. These goals were achieved to a large extent by 1990.

But after the introduction of the New Economic Policy, the orientation of Banks were totally changed. Profit became the only motive. 40% credit to Priority Sector is not monitored. 1% loan to the weaker sections of the society at 4% interest rate is forgotten. Decrease in rural Branches is not talked about. The Chief Economic Advisor to the Govt Dr. Aravind Subramaniam says Nationalisation was a blunder. The Prime Minister made a statement in Gujarat on 9[SUP]th[/SUP] of March 2017, that Nationalisation did not help the poor and only now through Jandhan A/cs he has made the Banks to reach the poor which is not the correct assessment. The RBI Dy. Governor’s make statements that targeted credit should stop and Banking expansion should be only with profit motive.

ICICI- a development institution then has become the biggest Private Sector Bank. Similarly UTI became UTI Bank and then Axis Bank. HDFC, a development institution has become a private sector HDFC Bank. Efforts are on to make IDBI, a development Finance Institution converted into a Bank as a Private Sector Bank.

When the owner of the Bank has changed the goal post, the Chairmen of the Banks follow the instructions.

As per News reports, Bank of Baroda, Bank of India, Punjab National Bank and Canara Bank have already increased the minimum Balance and service charges. SBI was late but has come into focus. But why these banks are doing this? Because they want some profit. They have lost lot in implementing Govt’s schemes.

Let us see the performance under Jan Dhan as on 8[SUP]th[/SUP] march 2017. Out of 27.97 Crore A/cs, 27.07 Cr A/cs have been opened by Public Sector banks and Regional Rural Banks sponsored by Public Sector Banks. Only 90 lakh A/cs have been opened by Private Sector Banks. Out of 21.84 Rupay Cards issued, 21 crore cards issued by PSBs & RRBs and only 84 Lakhs by Private Banks. The PSBs & RRBs have 6.4 cr Zero Balance A/cs where as private banks have just 3 lakh Zero Balance A/cs. PSBS & RRBs have done Aadhaar seeding for 17.1 crore A/cs whereas Private Banks have just done for 40 Lakh A/cs. Out of this SBI group & its sponsored RRBs have 10.6 Cr Jandhan A/cs, issued 7.2 Crores Rupay Cards and have 3.3 cr Zero Balance A/cs and have done 6.64 Cr Aadhaar Seeding. For this huge expenditure has been incurred but the Govt has not given any compensation. In addition the Banks are implementing all Insurance Schemes of Govt, MGNREGA A/cs, and provide overdraft to Jandhan A/cs. Mudra Loan target has been doubled. Banks are happily implementing. But what support the Govt gives?

The Govt actions show, We will not give Capital, We will not reimburse expenditure incurred in Jandhan or demonetisation, we will not help in NPA recovery by implementing the recommendations of Parliamentary Standing Committee, we will not pay the Bankers salary at par with Govt employees but Banks must make more profit. Like a Headmaster reviewing performance of teachers, the Finance Minister reviews Banks’ Chairman’s performance every month. But their requests and suggestions are not adhered to. There are more than 100 Directors’ Posts vacant in Public Sector Banks including officer / Employee Directors in Banks, and we talk about transparency.

This has lead to a situation where farmers are dying for want of credit, students are not getting education loan and small credit is almost becoming NIL. But Corporates get all the credit (11000 borrowers garnered 36.5% of total credit) and they are the ones responsible for 70% of the NPA. Now Corporate Houses like reliance are entering Banking too. Digital Banking is being forced on the population of which only 10% can read and write English and you need some knowledge of English to operate digital products and each transaction has a service charge. Who is responsible for all these? The service charges and minimum balance may once again throw away the small people from the Banks. Who cares? SBI Biggest Bank for the Smallest man will care we believe. But not the masters.

  • Look at Gyan Sangam Recommendations
  • Look at Indra Dhanush documents
  • Look at the statements of RBI
  • Look at the policies announced by Niti Ayog
  • All Points to Privatisation and Profit
  • Is it profit over people?

Let us not miss the shooter and blame the arrow.

[email protected]

It is clear that profit comes first and social objectives later.

Central Govt should compensate nationalised banks for the burden of supporting the not so well off.

Lakhs of zero balance bank accounts getting added , banks carrying the load of student loans,MNREGA,jandhan accounts, besides NPAs of big borrowers for loans given due to pressure

from the govt is sucking the nationalised banks dry. Bank staff are over worked with hardly any compensation . Most seniors with a year or two to retire would opt for

VRS if generously given.In fact with consolidation in banking sector and mergers, many branches would have to be closed leading to surpluses in staff.This shake out is

very likely.Many senior employees are getting into medical problems with work pressures on them.Many customers get ill treated by staff with bank officers watching

and helpless to do anything. I prefer to operate my accounts online and prefer not to go to any branch for any service.
Not open for further replies.
Thank you for visiting TamilBrahmins.com

You seem to have an Ad Blocker on.

We depend on advertising to keep our content free for you. Please consider whitelisting us in your ad blocker so that we can continue to provide the content you have come here to enjoy.

Alternatively, consider upgrading your account to enjoy an ad-free experience along with numerous other benefits. To upgrade your account, please visit the account upgrades page

You can also donate financially if you can. Please Click Here on how you can do that.

I've Disabled AdBlock    No Thanks