SBI employees on a quitting spree

1: Questions to be answered to know main reasons for mass exodus not only from SBI from all PSBs. I place these questions before RBI to ponder over the same and try to know the root causes of mass resentment among bank officers in banking industry and growing weakness in the system.


1. Are you satisfied with balance sheet published by PSBs?



2. Are you sure that all bad advances are truly declared as Non Performing Assets as per norms set by RBI?





3. Are you hopeful and confident that banks will enthusiastically finance to poor and really needy small traders and manufacturers or they will continue to indulge in bulk financing or investing in MFs?



4. Is it not true that banks are intrinsically growing weak due to faulty policies, faulty advances, weak and ineffective recovery mechanism, deficient monitoring due to inadequate manpower as also lack of involvement and due to humiliation to honest workers and whimsical promotions to those who are corrupt and flatterers of bosses?





5. Don’t you believe that lobby of corrupt officers surrounding CMD of a bank may spoil the health of the bank and sooner or the later exposure of cooked up balance sheet will come on the floor endangering the hard earned money of poor depositors?



6. If yes have you taken any step to give respect to human capital? Will you lodge inquiry of top 50 persons of a bank , look into advances sanctioned by them in last two three decades, ascertain quantum of advances disbursed by such so called star performers which became NPA , which were written off or where bank had to sacrifice huge money in compromise settlement.





7. Will you look into why senior officers are superseded in promotion process and transferred to rural or critical areas?



8. Will you ascertain whether due respect is given to transfer policies, rural posting policy or North east posting policy, or priority sector lending policy or loan waiver policy?





9. Are you aware that flatterers are working in Metros for decades and decades and these officers ultimately causes losses to bank,?



10. Will you try to understand the basic reason of 23 banks going bankrupt and forcefully merged with large banks in the past?





11. Will you try to know why one after other cooperative banks are asked by RBI to pull down their shutters?



12. Are you happy with performance of regional rural banks and their actual health?





13. Do you also believe that the talk of merger and consolidation of banks is needed only to hide the malady and irregularities of weak banks?

14. Are you satisfied with the work done by vigilance departments o f various banks and central vigilance departments?

15. Are you happy with rating agencies rating banks and team of Chartered Accountants certifying the correctness of balance sheet of banks?

Posted by: danendra jain - 16 Dec, 2009

2: The present management is only to be blamed squarely for the sorry state of affairs. They have systematically and deliberately twisted the policies and their implementation leading to ever growing discontentment and frustration among senior executives and no wonder they are leaving in droves.

Each year they have played around with the promotion criteria and the interviews are simply a farce. Its the Chairman who only decides the final list and performance is not one of the major criteria for the promotion. Same case with postings and transfers which are done at his whims and fancies and have been systematically developed into a tool for rewarding a crony or for punishing an honest officer without following the due process of departmental action.

It is doubtful whether McKinsey will do a fair job and tell the unpalletable truth to the present management. In any case the entire senior management is fully aware of the problems and they do not need to spend crores of rupees for hiring the services of consultants.

McKinsey started consultancy for the bank last decade and ever since then they have not left the bank and keep suggesting and getting new and new projects to keep their cash registers ringing continuosly.

If there is one thing that can be emphatically said about the senior management of SBI, it is that they are fully aware of what goes on in the bank, what are the ills and what are the remedies. But they all have been castrated and feel impotent to do anything about what goes on in the bank. They are no more than spectators or rubber stamps biding their time till they retire.

Another scam the present Chairman induges into freely is to reward sycophants and proven cronies with post-retirement jobs as Advisors or Directors in SBI subsidiaries. This ensures that they keep their mouths shut while in service. The retired DMDs or other top executives are given extensions or jobs as advisors in defiance of the Govt rules for PSBs.

Posted by: View - 16 Dec, 2009

3: The only way is to restore parity in salaries with central government organisations. The best performing bankers are the poorest paid and naturally the attrition rate is high!

Posted by: Senthil - 16 Dec, 2009

4: I remember during 1980's bank jobs were considered as white-collared. There was rampant corruption during recruitment & their H.R.(SBI Group & BSRB) minted money & became millionaires. Now it has turned a full circle.

Posted by: sesha - 15 Dec, 2009

5: Good News Now SBI can start a HR Agency. Remember Work is God

Posted by: Human - 15 Dec, 2009

6:SBI needs fresh blood transfusion...The real citizens of SBI have already left and prospering elsewhere.Remember, flattery means success these days.

 jagadha replied to: Human 
 post - 18 Dec, 2009

7: Does SBI really need to depend on McKinsey ?

Posted by: Shelly - 15 Dec, 2009

8:same question is storming My Mind Too..It is seeming like providing an easy opportunity of earning to Mckinsey .I think SBI's Own Management should take an internal survey to find out correct reason for this. And calling McKinsey is just spoiling a lot of money which is indirectly Public Property.

 Ankur Gupta replied to: Shelly 
 post - 16 Dec, 2009