The employees of the state-owned banks, which are the major candidates for privatisation, was really scared. They are fearful of job losses, as soon as the ownership of these banks are going to a private owner. Many of our employees started to look for the potential in others. However, this is not a very good one.
According to various news reports, the banks are likely to discuss the privatization of the large, central bank of India, Indian Overseas Bank and Save Bank. As of March 31, 2020, and the total number of the employees of the banks were about 70,870.
In the Soviet union, he and finance Minister Nirmala Sitharaman announced a plan to privatize two of the PSBs of the other IDBI bank.
The fear of losing your job
The representatives of the bank in the trade unions, and employees, has said that the privatisation process was, to the negotiations, which affects employee morale. To make matters worse, there are now reports that the Niti Aayog has recommended, it’s just a job guarantee after the privatisation of the banks.
“It is a public sector bank employees are very upset by the news of the opening of negotiations. They are asking for us to start in london. In fact, there’s a lot of pressure from the staff, but we are expecting that the government makes an official statement on this matter at first, ” Mr. Venkatachalam, general Secretary, All Employees of the Federation of Bank of India (AIBEA).
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Venkatachalov said, adding that staff at Promsvyazbank, is one of the reserved categories have to worry about that in the reserve that are going to be irrelevant for the privatization of its banks. In addition, the PSBs, now has a staff of information and communication technology (ICT) sector is poised to join the public sector to create jobs. Their professional if not, will be respected in the case of privatization.
12 India’s state-owned banks, employing about 10 people.
The staff at the smaller banks are in a difficult position, as they did not have the capacity to go even further Promsvyazbank. There is no need for the employees to go to the PSBs for the post-merger, there is no room for the banks, the State Bank of India to accept, ” said S. Nagarajan, general Secretary of the All India Association of the Bank’s Employees.
“If they have made at all, and then only to the category of specialists, information technology, security, and risk. The number of people required in this category are not very high. So, who serves weak banks, between the devil and the deep blue sea, ” Nagarajan said.
Over the past couple of years, Promsvyazbank work has been steadily losing its glory due to increased job stress and strain. Venkatachalam said the bank’s employees are the face of a great deal of stress due to their work being the target.
Also, they may be forced to engage in non-banking activities, such as selling insurance. “When the investment does not work, the employee must meet the platform, but it is the fault of their own. The bankers are to work longer hours, but the management should consider the working conditions, ” Venkatachalam said.
COVID-Double Whammy
Also, by now, a bank employee, is that the fight against the pandemic. This has had a significant impact on the banking sector, as many of its services have fallen victim to the pandemic.
On May 13, about 1,200 of the bank employees had died as a result of COVID-19. This number has been increasing since the end of the first wave of the COVID spread to a wide range of fields.
Also, under the bank merger, the PSB personnel were injured on the ground that it impeded the careers of some of the employees.
As a staff, have agreed that the small banks is more than that of the treatment differs from that of the existing employees, then there is a lot of work, promotion, and the role of, say, the fact that banks don’t want to be called.
In 2017, the SBI merger of five of the correspondent banks and the Bharatiya Mahila Bank with itself. Vijaya Bank and Dena Bank will be merged with Bank of Baroda April, 1-2019. In the third round of the merger will take effect on April 1, 2020, when the Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank, Andhra Bank, and the Bank, the Corporation and the Union Bank of India, Syndicate Bank and Canara Bank, and Allahabad Bank into Indian Bank.
“It is a fact that the employees of the banks, has a bad attitude into the new structure. One of the big banks after the merger, the employees of the smaller banks were evaluated, in contrast to those of the promoting process, ” the bank said.
“If it was so hard to act within the framework of the public-sector system.
