RegisteredOfficers’ with RNI, DelhiVoice, Regn. No.June KARENG/2005/14831 2019 1

444 Vol 37 - 12 June, 2019

Bank’s saga with loss continues and it has deepened of Rs. 6333 crore for the current year as against further for the last fiscal. Corporation - once the Rs. 4054 crore for 2017-18. cynosure in the industry for its positive performance, But still, the atmosphere is not of dismay and continues to be so - but for reasons otherwise. The panic. There are still a lot of positive take-aways reasons may be any or many; yet the bitter truth of over the previous year that should motivate every posting a huge loss needs a careful analysis of the Corp Banker to do better in the current and future performance and course correction. years.

Even during the worst crisis period during the early F Net Bank Credit which had registered a de- 1990s, Bank could stave off the ignominy of ending growth in FY 2017-18 has shown a modest up in red. However, as at March, 2016, for the first growth to reach a level of Rs 121251 crore time in the history of the Bank, the Balance Sheet was (1.15%). Average Advances also saw a painted RED. With renewed efforts by the management positive upward trend. and the contribution by the rank and file, it was F Average Yield stood at 9.43% as against brought back to PINK, the following year. External 8.91%. factors in the form of RBI circular dated 12.02.2018, F Gross and Net NPA levels that were threatening coupled with increased provisioning requirements of to blow out of control were reigned in at yesteryears’ AQR identified assets (due to ageing); Rs 20724 crore and Rs 6927 crore caused a severe dent on the already bruised Balance respectively. In percentage terms it was more Sheet and Bank ended up with a net loss of Rs. 4054 respectable at 15.35% and 5.71% as against crore for the year ended 31st March, 2018 - the second 17.35% and 11.74% respectively as at March, time in its 113 years of fruitful existence. During 2018. the just concluded financial year, it seemed things F Provision Coverage Ratio improved to were looking good (or at least informed as that); the 83.30% from 63.65%. feel-good factor of “Halla Bol” was touted to deliver with a magic wand, instead the performance again F There was considerable reduction on bulk dipped to a new low with Bank registering a net loss business both on the assets as well as on

Editor Asso.Asso. Editor Editor Members Advisor Edited and Published by EkanathY. Sudhindra Baliga G. SatishRaghuraman Shetty H.S.K.B. Vishwanath Prasada T.R. Bhat EkanathY. Sudhindra Baliga Satish Shetty Devaraja B.P. Rachappaji J. on behalf of the Owners : Printed by: Corporation Bank Officers’ M. Rajesh Dange FounderLicensed Editor to Post : Sri Under T.R. Bhat Organisation (Regd.) Codeword Process & Printers LicensedLicense to MNG/128/2015-17 Post Under License 106, Lobo Prabhu Court Falnir, - 575 001 L/MNG/128/2018-20& SK/MNG/WPP/7 & SK/MNG/WPP/7 Light House Hill Road, Mangalore - 575 001 e-mail: [email protected] * Visit us @ our website:www.cboo.org * Phone: CBOO Central Office : 2422712, 2422501 * CBOO CENTRE : 2493 698 Officers’ Voice, JuneJune 20192019 2 the liabilities side. Still, the total business Office into three separate Divisions, more thrust continued to be above Rs. 3.00 lakh crores, needs to be given to MSME and Retail, while continuing to retain the status of mid- size continuing with the thrust on Agriculture lending. bank. Corporate Lending shall be to ‘A’ grade borrowers and to those having long and satisfactory F CET-1 ratio improved to 10.39% during the association with the Bank. Attention to lend current year from 5.68% as at March, 2018 with caution and care (Lend More with due to capital infusion of Rs. 9,086 crore Quality - More) shall not be lost sight of. by the . Incidentally, This reminds of the old adage “Recover More our Bank received the highest capital among to Lend More.” PSBs signalling the faith and confidence of GoI in the Bank. Another facet of the challenge is the need for the Man & Machine to work in sync. The machine New challenges have raised the hood that needs (the IT system) has become a killer pain in the to be deftly handled. neck that has not been treated in the manner F Interest Income fell to Rs. 10993 crore as it should have been. Bank should make every against Rs. 11471 crore as at March, 2018 effort to treat the machine and at the earliest time, wriggle out of the Finacle blues haunting that has led to fall in operating income and the Bank, the customers and the field staff for the the entire machinery of workforce needs to last two years. The complacency of ‘Everything pull up their socks and work to shore this up. is Working Fine’ must be buried into the deep F Total Business growth was sluggish at Arabian sea and a time bound strategy to resolve Rs. 305819 crore. all the issues must be evolved. We cannot afford F RoA continues to be a worrying factor at an entry into the status of malignancy as a -3.14% as against -1.67% as at March, consequence of the ‘Feel Good’ factor (which is 2018. factually absent at the field; but present only in F Earnings from Treasury operations (which top most level reporting). was a major contributor in the past) have not Manpower assessment needs another urgent been encouraging. revisit. Basically, there is an urgent need to Obvious question in everybody’s mind is whether change the administrative mindset from “Staff the current year’s performance again draws is a Cost” to “STAFF IS NOT A COST; BUT the ire of RBI to clamp restrictions under PCA? IS, IN FACT, AN ‘INVESTMENT’ FOR THE Hopefully, the answer may be an emphatic “No”, FUTURE”. as all other parameters viz., CRAR, CET1, Net C O N T E N T S NPA and Leverage Ratios are within the threshold Page No. limits and that relating to Return on Assets (RoA) CBOO News...... 3 alone is being breached. However, it is given to Balasubramanian Foundation...... 4 understand that the Bank has apprised RBI of the AIBOC News...... 4 Banking Round up...... 7 structural and systemic improvements put in place Circular Round up...... 12 to maintain these numbers. Class Room...... 14 Nevertheless, Recovery shall continue to be Miscellany...... 15 the thrust area and the number game should Women's Wing...... 17 Legal Decisions...... 27 be shunned. Streamlining and strengthening MD Interview to Business Line...... 30 recovery teams shall be given top priority. Retirements...... 31 With splitting of the behemoth vertical of Priority, Health Watch...... 39 FI, MSME and Retail Lending Division at Head In Lighter Vein...... 40 Officers’ Voice, June 2019 3

Administration must come out of the frozen transferred officers for want of substitutes and paradigm of “SURPLUS” arrived at on the basis relievers. of illogical and impractical computer garbage. F Absence of replacements/substitutes in the place Absence of supervisory staff coupled with the of officers/clerks retired/deceased/promoted. subordinate category, has eroded substantial Today, the need of the hour is to collectively work business adding fuel to the customer exits to pull the Bank out from deep red and bring it caused due to perennial system blues. These back the status of “The Premier Government issues have been highlighted time and again; of India Enterprise” and to see the smiles back seldom dealt seriously by the contemporary on the cheeks of Corp Bankers who have the leaders in top echelons of administration: courage to accept the challenge and will, surely, F Substantial number of Single Officer to render their best to see the Bank back in the Branches. pink of its health. Collectively, we all must gather F Severe staff crunch at Branches with good our wits and tread steady path to steer the Bank growth/good potential for growth. back to safer zone. The red in the Balance Sheet F Multi-tasking at controlling offices hampering should not obliterate the fighting spirit of Corp control mechanisms. Bankers; instead has to unite to lead a fight back. TOGETHER WE CAN HOPE FOR CHANGE; F Inadequate manpower resources in TOGETHER WE CAN ENSURE THE CHANGE; inspection function. TOGETHER, WE CAN…. F Non-transfer of officers and non-relieving of OV

c. Functioning of Zonal Unit. Cboo news d. Proposed Swasti program at Nellore and to Zonal Committee Meeting identify at least one Swasti Program a month.

Nellore e. Conducting Pre-promotion training and Mock interview for the promotion aspirants First Zonal Committee Meeting after the constitution of new committee was held on 24.02.2019. A V f. Helping all our members by sharing materials/ Ramana Prasad, Joint General Secretary and knowledge for promotion. P V Chaitanya Reddy, Circle Secretary also g. Efforts for reaching the target of Souvenir participated. collection. Zonal Chairman, T Ramesh Babu, welcomed the h. Sports activities Central Office bearers and all the Zonal Committee Members. i. Problems faced by our members in getting their leave sanctioned and thereafter availing. The Zonal committee discussed the following in detail: j. Issues at Single Officer Branches. a. Finalisation of Plan with regard to Branch k. Issues faced regarding deputations. visits and distribution of Mementos to all our l. Prioritise renewal of lease of branch premises, members across zone. renovation of branches and providing Air b. Submission of transfer requests by members conditioners to all branches. and coordination plan regarding communicating m. Infrastructure issues at branches. to members during transfer season.

Every cloud has a silver lining. -Proverb Officers’ Voice, June 2019 4 n. Handling of Disciplinary cases with specific participated. The programme was inaugurated by attention to cases pertaining to our zone. our Assistant General Secretary, G Raghuraman, who briefed about the activities of CBOO. o. Other Branch banking issues. Mr. Kolandhaivelsami, Chief Manager and Mr. A V Ramana Prasad, Joint General Secretary in Senthil Raja, Chief Manager were the panelists. his address assured all the support from Central The participants appreciated the program and said Office. He shared and discussed various issues and that it will help them to face the interview with advised that coordination amongst Zonal Committee renewed confidence. members is required to improve the functioning of unit. He also briefed about disciplinary issues, Ravindran, Deputy Zonal Secretary proposed Souvenir collections, Swasti, coming transfers, Vote of Thanks. Membership Development, Promotions, Reporting -T. S. Vishwanathan, Zonal Secretary to Central office, Sports activity etc. Chennai Deputy Zonal Secretary, M Srinivasulu Reddy proposed Vote of thanks and the meeting concluded On Sunday, 21st April, 2019, mock interview for the with National Anthem. eligible candidates from 0 to 1 cadre was conducted at ZO-Chennai. At the outset, we thank Zonal Head -Ashok Chakravarthy, Zonal Secretary and DGM Sri B.R.Akolkar who interacted with the participants and inspired them. balasubramanian foundation Sri A Ravinder, AGM, Sri S.T. Natarajan, AGM, Sri M Velu, AGM, Sri Venkata Nagesh, AGM and Coimbatore Sri T V Rajan, CM formed the interview panel. The The Zonal Committee meeting was held on 7th April mock interview was interactive and the participants 2019. Zonal Chairman, Sivadoss who presided were appreciative of the initiative. over the meeting also welcomed the committee -T Jaganath, Zonal Secretary members and special invitees. He shared his views on various organisational developments in the zone. AIBOC news Zonal Secretary, Viswanathan thanked the (Text of AIBOC Circular No. 2019/27 dated committee members for their support and 26.04.2019) involvement in distribution of conference memento. Following issues were discussed: All India Strike call given by Catholic Syrian Bank Officers’ Association (CSBOA) 01. Co-option to the post of Area Secretaries that For two days-29th and 30th of April 2019- were vacant. Calling all affiliates to extend fraternal support. 02. Finacle problems faced at the branches. CSBOA, our affiliate in Catholic Syrian Bank, has 03. Transfer of Officers – submission of list of been voicing their unflinching protest against the officers opted for transfer to Central Office. arbitrary and anti staff attitude of their Management over the last several months. In spite of the well Senthil Kumar, Deputy Zonal Secretary proposed meaning intervention of several intermediaries to Vote of Thanks. break the stalemate, the Management not only -T. S. Vishwanathan, Zonal Secretary continues to be unresponsive as before but has intensified their torment, issuing harsh, retrograde Coimbatore amendments to service conditions of officers as well Mock interview for promotion aspirants was as introducing ‘hire and fire’ policies by shifting to conducted on 13.03.19 wherein 12 candidates CTC pattern of recruitment. The Management had

Who can’t express what they have learnt Are bunch of flowers not fragrant- Thirukkural Officers’ Voice, June 2019 5 unilaterally reduced the retirement age of officers possible support to the strike on 29th and 30th of from 60, which is the industry norm, to 58 and April 2019. this unprecedented rule will be effective from Comradely yours, 30.04.2019. Moreover, all officers will be subjected to a performance review at the age of 50, whereby Sd/- the retirement age has effectively been reduced to (Soumya Datta) 50 years. General Secretary

Comrades, the insensitive actions, indifferent and (Text of AIBOC Circular No 2019/28 dated highhanded attitude of the CSB Management has 27.04.2019) the potential to affect us all as these anti-officer May Day signifies the struggle of Working Class measures can spread like a pandemic, engulfing the Time to rethink, rejuvenate and resurge!! entire Banking industry in a matter of few months. Sensing this as a potential threat, we had included The historic May Day is an occasion to recollect, the HR issues of CSB in our list of demands for remember, respect and commemorate the fight and our All India Strike on 21st of December 2018. The struggles of the working class and people against Management of CSB has turned a blind eye to the the exploitation and onslaught on their rights. This protests that rocked the nation on the date of our day has brought a new dimension in the lives of All India Strike. working class across the globe and realised the dream of “Dignity & Respect “of Working Class. Against the backdrop of anti officer measures The oppressed and subjugated working class, who incessantly initiated by CSB, CSBOA observed a were treated as bonded labour were made to toil for one day strike on 02nd of April, 2019 which was 10-14 hours a day, decided to revolt and retort. The a resounding success with total participation of sparks, undercurrents flowing here and there for the Officers. The Management, as usual, did not years foregathered, ignited a colossal movement even call the agitating officers for a conciliatory that changed the course of history on 1st May, 1886. discussion. Similarly, the sincere conciliatory efforts We all are aware how the working class resorted to of the Honourable Deputy Labour Commissioner, strike in Chicago, which was given the sobriquet Cochin also went in vain because the Management “Haymarket Affair”, demanding restriction of work unprecedentedly informed the DLC that they are to 8 Hours a Day, which left an indelible mark to unwilling to compromise on their stand and will introduce a “8 Hours a Day” norm and is befittingly never yield on any of the demands made by CSBOA. observed as International Workers’ Day.

Against the back drop of the dialogue process 2. Comrades, the attack on the working class was having thus collapsed owing to the stubbornness of always there and continues even today. While the the Management, CSBOA has no other option but threat during yester years were mechanisation, to intensify their agitations. Incidentally, CSB Staff oppression, suppression, gender bias, denial of Federation, the affiliate of BEFI has also joined reasonable wages, denial of minimum comfort forces with CSBOA, calling for a one day strike on required for a decent living, the situation is no 29.04.2019 for which we convey our appreciation. different today. Today’s working class is haunted Comrades, it is the urgent need of the situation with similar, but mutated and more serious threats. to extend all possible assistance to our affiliate The demon of Artificial Intelligence, ill-thought CSBOA in this crucial struggle. In fact, this is out policies and programmes of Government and going to be a battle not only to save the rights of employers, squeezing of human resource in the garb the officers of CSB but also to protect the entire of profit maximization, enslaving the work-force officers’ fraternity in the banking industry against to work for unending hours, without weekly-offs, the potential threat looming large on the horizon. denial of Trade Union rights etc. In our banking We, therefore, request all the affiliate units in Kerala industry too, officers are forced to work beyond to coordinate, mobilise resources and extend all reasonable hours, work on holidays,

Life is but an endless series of experiments. -M K Gandhi Officers’ Voice, June 2019 6 thus disconnecting from their social and family attempt is being made to show PSBs in poor light life. Recruitment has drastically been curtailed with the hidden intention of privatising them, to resulting in increase of per capita workload and the handover to greedy corporates. Laws are being officers are under severe stress and strain. Work amended to make the illegal legal, to legitimise life balance has been drastically shattered due to corporate loot of public money and national work pressure and stress at office culminating in resources, expenditure on social welfare. The unexpected and untimely loss of lives. The Officers’ central government is pampering the national and associations in many affiliates were formed nearly multinational corporations and big houses with 50 years ago, when the officers were subjugated bonanzas-tax concessions, bank loan defaulters and tormented. The wheel seems to have turned and exemptions from laws of the land including a full circle. Remembering May Day becomes more labour laws. The vast majority of workers and the relevant from this perspective. Today, there is a peasants who produce wealth expending their need to fight as the labour force did 133 years ago. sweat and blood are being pushed into slavery and penury; they are denuded of their lands, 3. We, AIBOC, being the world’s largest organisation their jobs, their rights and their livelihoods. While of supervisory cadre, is alive to the issues. We remain Government is using PSBs for its advantage, it has resolute - To oppose atrocities perpetrated on the not shown any inclination to recognise and accept working class; To oppose privatisation; To oppose our demands, be it wage revision, pension revision Mergers & Amalgamations; To oppose disowning or to stop misplaced reforms. the Public Sector Enterprises by Government; To ensure Work-Life-Balance; To ensure existence 6. On this occasion, to secure the interest of the of Public Sector Undertakings in the interest of working class in general and bank officers in common man of the country. particular, we strongly demand Government to initiate following pro-working-class measures. 4. Government has been attempting to consolidate existing 44 labour and related laws into 4 Codes a. Though India is one of the founder member of i.e. Wages, Social Security, Industrial Relations International Labour Organisation (ILO), it is and Occupational Safety, Health & Working embarrassing to note that our country is yet to Conditions. The need of balance is pro-capitalists, ratify the Conventions which recognise trade dilutes the stringency and allows easy-closure union rights. We demand that Government of establishments, encourages hire and fire should ratify ILO Conventions No.87 (Freedom policies. It is skewed in favour of employers than of Association and Protection of the Right the very employees who run them. Similarly, we to Organise) and No.98 (Right to Organise have another challenge – protecting the interest and Collective Bargaining) without further of labour in unorganised sector, which is a huge loss of time. It is worth to note that majority population in the nation. This is a vulnerable of countries – developed, developing and area, where illiterate, semi-literate, women and underdeveloped have ratified, but not India, the deprived society of India are being squeezed. the largest democracy in the world. AIBOC, being the torch bearer in the working-class movement, trade union fraternity looks upon us to b. Another urgent necessity is a law restraining lead in ameliorating the hardship of our comrades the employers from forcing its employees, in unorganised sector. irrespective of cadre, to work beyond stipulated hours. This will foster the social relationship 5. Banking industry continues to be on hazy path. and a healthy society. This has a huge consequence on the welfare, the working environment of officers and the very c. There is also a law needed to examine death existence of public sector . Corporates are of personnel from the perspective of “death waiting to take over the PSBs and old generation due to over-working”, “burning out”. There is private banks; Government is pursuing a policy a law elsewhere in the world which provides for of annihilating trusted public sector banks; every examining whether a death is on account

Modesty is the clothing of talent. -Pierre Veron Officers’ Voice, June 2019 7 of overworking. Ailments like Cardiac disease, stroke Undergoing assessments etc. are more often the consequences of stress “They are presently undergoing deeper assessments and strain obtaining in working environment. after which individual development plans will This sort of a penal action would not only be be generated. Shortly, a globally ranked Indian deterrence in exploitation of personnel, but will institution will be identified where every year also lead to augmentation of human resources, the identified personnel will undergo intensive resulting in creation of more and more required leadership development journey,” it said. It has employment. made a case for giving a complete autonomy to 7. On this historical day, let us take a pledge, to banks to decide organisational structure for better be united and work for a better work environment. efficiency. BBB, headed by former Department Let us espouse the cause of officers’ fraternity, a of Personnel and Training secretary B P Sharma, common man, the farmer, and the less privileged also suggested revamping credit governance society. Let us take every measure to guard the architecture in nationalised banks to reinforce fabric of public sector banks and guard them efforts to minimise credit costs and enhance zealously. efficiency of credit allocation.

We call upon all our Affiliates/ State Units to “Incentivise maximisation of risk-adjusted income celebrate May Day befittingly to demonstrate that and disincentivise operational inefficiencies by we are determined to hold the mantle and to protect aligning compensation with right performance the interest of human capital of the country as also metrics through the introduction of performance- the Nation. based compensation through Employee Stock Option Scheme, which is different from Employee With revolutionary greetings, Share Purchase Scheme, and Performance Linked Comradely yours, Incentives,” the report said. It further said the Bureau was assigned with the task of recommending Sd/- personnel for appointment as directors in (Soumya Datta) government-owned insurance companies. General Secretary Recommendations Where trade unions are most firmly organized, there are the rights of the people most respected. In this regard, on January 4 this year, it made its -Samuel Gompers recommendations for appointment of chairman and managing directors of LIC. Prime Minister Narendra Modi in 2016 approved the constitution of the BBB banking round up as a body of eminent professionals and officials to make recommendations for appointment of whole- BBB identifies 75 top officers for leadership time directors as well as non-executive chairmen of roles in PSBs PSBs.

The (BBB), the apex body for It was also given the task of engaging with the selection of whole-time directors of state-owned board of directors of all the public sector banks to lenders, has identified 75 senior management formulate appropriate strategies for their growth personnel of public sector lenders to take over and development. leadership role in the future. From a pool of 450 Besides, it was also asked to frame strategy senior management personnel across nationalised discussion on consolidation based on the banks, an inaugural batch of around 75 personnel requirement. The government wanted to encourage has been identified this year to help nationalised bank boards to restructure their business strategy banks take on the current and emerging challenges and also suggest way forward for their consolidation as well as help create a leadership pipeline, BBB and merger with other banks. said in its activity report for the October 2018-March 2019 period. - The Hindu Business Line, 20/04/2019 Officers’ Voice, June 2019 8

Complaints made to banking ombudsman rose proceedings against the RBI, made it clear that it 25% in FY18 was giving a last opportunity to it to comply with provisions of the transparency law. The Bench said Complaints to the banking ombudsman in 2017-18 it would have to take a serious view to the refusal of shot up by nearly 25 per cent, with non-observance the RBI to part with information under RTI. “Any of fair practices code and issues related to ATM further violation shall be viewed seriously,” the and debit cards being the most common grounds bench said. for seeking redressal. The Office of the Banking Ombudsman (OBOs) received a total of 1,63,590 In January this year, the top court had issued complaints in 2017-18, recording an annual contempt notice to RBI for not disclosing annual increase of 24.9 per cent, revealed the annual inspection report of banks to RTI requests. Earlier, report of Banking Ombudsman Scheme released by the apex court and the Central Information the Reserve on Wednesday. However, Commission (CIC), both had held that the RBI in 2017-18, the ambit of the scheme was expanded cannot deny information to an information seeker to include mis-selling and electronic and mobile under the transparency law unless the material is banking-related grievances as valid grounds of exempted from disclosure under the law. complaints. Further, the ceiling of Rs. 10 lakh on the The RBI, in its defence, had said that it cannot pecuniary jurisdiction of the banking ombudsman, disclose information as the annual inspection and a second office was also opened at Mumbai, report of the bank contained “fiduciary” information taking the total offices to 21. as defined under the transparency law. The bench The data showed that the major grounds of was hearing a contempt petition filed by RTI activist complaints received during the year were non- S C Agrawal against the RBI. observance of fair practices code (22.1 per cent), Agarwal sought complete information, including ATM and debit card issues (15.1 per cent), credit related documents from the RBI on some banks for card complaints (7.7 per cent), failure to meet violating rules. He had also sought the list of banks commitments (6.8 per cent), and mobile and and the default for which show cause notices were electronic banking (5.2 per cent). Meanwhile, issued to them before he fine was imposed. Despite complaints received on grounds such as problems the apex court’s judgement for disclosure of such related to pension, levy of charges without notice, information, the RBI had issued a “Disclosure loans and advances, remittances, DSA and recovery Policy” under which it has listed certain information agents, and mis-selling accounted for less than 5 as being exempt from being disclosed under the per cent of the total number of complaints. RTI Act. - The Hindu Business Line, 25/04/2019 “It is to be noted that the specific information is Apex Court orders RBI to disclose details of similar to what were held not be exempted by the bank inspections to RTI queries Supreme Court,” claimed the plea. The RBI had refused to disclose such information on the grounds The Supreme Court on Friday directed the Reserve of economic interest and holding such information Bank of India (RBI) to disclose information in fiduciary relationship with these individual pertaining to its annual inspection report of banks banks. under the Right to Information (RTI) Act unless - The Hindu Business Line, 27/04/2019 they are exempted under law. A bench headed by Justice L Nageswara Rao also directed the of Baroda revamping organisations bank to review its policy to disclose information structure relating to banks under RTI, saying it is ‘duty , the recently created banking bound’ under the law. behemoth post its three way amalgamation with The bench, which did not go ahead with contempt and , is going in for

God could not be everywhere, therefore he made mothers. -Jewish Proverb Officers’ Voice, June 2019 9 organisation structure revamp to improve the overall recovery through bankruptcy courts has remained efficiency of operations and have better control and dismal in the first two years of the Insolvency and monitoring mechanisms in the combined entity. Bankruptcy Code. For this purpose, Bank of Baroda which now in Banks could realise 43% of the claims in 94 loan all has 9447 branches has decided to introduce default cases that have been resolved after the a new layer in the organisational hierarchy by corporate insolvency resolution process came into creating a position of General Manager - Chief effect from December 2016, data from Insolvency Coordination. The position of General Manager - & Bankruptcy Board of India showed However, Chief Coordination will be a rank above the General the extent of recovery has been a concern ever Manager and one level below the Executive Director since. JSW Steel offered about Rs 19,300 crore for and will be responsible for and drive multiple Bhushan Power & Steel which was saddled with areas of operation instead of a single function, debt of Rs 47,300 crore, while Electrosteel Steels’ Rs P.S.Jayakumar, Managing Director & CEO, Bank of 13,300-crore debt was resolved at Rs 5,300 crore. Baroda said in an internal note to employees.

All the 9447 branches will now report to an unified About 1,858 corporate debts have been admitted Regional Office/Zonal Office structure of the bank into the National Company Law Tribunals (NCLT) and there will not be any separate ROs/ZOs of the by end of March, 2019. Of these, 152 have been individual three entities running in parallel. The closed on appeal or review or settled, 91 have been domestic retail network of branches is now being withdrawn; 378 have ended in liquidation. Just organised under 18 zones and five field heads of about 94 cases have been resolved or 13% of the Retail Distribution who in turn will have overall total cases admitted for resolution. responsibility for driving business of 2 - 5 business The Insolvency and Bankruptcy Board of India under them. said 75% of the companies ending in liquidation In the revised structure, apart from the 18 zones, (283 out of 378) were earlier with BIFR or defunct there will now be a total of 108 regions. It is also with no economic value in most of them. “The proposed to gradually move to a city vertical 24% does not mean banks had to write off 76% structure in 5 cities of Mumbai, Delhi, Ahmedabad, of their claims,” explained Vinod Kothari, a senior Bangalore and Chennai, to start with, according to chartered accountant. In fact, he said, a large part Jayakumar. of the claims might have been provided for by way of bad loan provisions over time. - The Hindus Business Line, 29/04/2019 Most banks have provided 75-100% for bankruptcy Banks may get just a quarter of claims from 12 cases and therefore recovery against such cases debt cases would add directly to their profitability to the extent Banks would realise just about a quarter of their of the provision made. “Once the deadwood of the claims from 12 corporate debt resolution cases in past is cleared the rate may improve,” Kothari January-March 2019, dashing hopes of higher bad said. loan recovery in the last quarter of the last fiscal. - The Economic Times, 30/04/2019 In the March quarter, the realisation by banks was 24% of their claims, in comparison to 43% Talks on Round 2 of PSU Banks’ Merger soon overall. The lenders will receive merely 17% of the Rs 29,500 crore dues from Alok Industries, raising The government is soon likely to invite select doubts over future realisation. “This is a matter of lenders for discussion on a second round of merger serious concern. This shows that either there are no in public sector banks, according to a finance tangible assets to back the loans or the assets were ministry official. overvalued,” chief executive The lenders to be called may include Punjab Ashok Kumar Pradhan said. The overall bad loan 3.95 % (PNB),

Pleasure is flower that fades, remembrance is the lasting perfume.-J V Richer Officers’ Voice, June 2019 10

4.55 % and Bank of India (BoI). “We wouldn’t like Confederation. The Confederation has made this to wait for too long,” said the official, indicating that demand as it feels there is every possibility that some merger activity is on the cards around second banks tend not to allow flow of information in this or third quarter of the current fiscal year. “If the critical area. banks are not able to give options then the alternate While hailing the recent Supreme Court decision mechanism (AM) group can make suggestions.” directing RBI to disclose the wilful defaulters’ list In October 2018, the government had proposed the and inspection reports, Soumya Datta, General merger of three banks — Bank of Baroda 3.78 %, Secretary of the Confederation, said “Corporate Vijaya Bank and Dena Bank — to create the country’s wilful defaulters are the primary cause for today’s third-biggest lender through alternate mechanism. humongous stressed assets in banks, more Both Vijaya and Dena were amalgamated with BoB especially in public sector banks.” He alleged that on April 1, 2019. “It need not be a tripartite merger despite all the hue and cry, the Government and again. We will be looking at various combinations. It the apex regulator have not put in place a suitable has to be organic, besides we will like some of these frame of law or regulations to check this menace. large banks to further consolidate their balance This has affected the health of banks and allowing sheets in the first two quarters,” the official said. economic offenders and wilful defaulters to fleece the banks and leave the country cocking a snook at Another government official, however, argued that the authorities. it was not the opportune time for merger in state- run banks. “Bank of India has just come out of Datta emphasised that it is the depositors’ savings the PCA (prompt corrective held in various forms of deposits with banks, which action) framework. Union Bank of India and Punjab is the source of funds being lent out by the banks National Bank are also in early recovery stage,” to borrowers. “It is observed that during the last he said. In February 2019, the Reserve Bank of more than a decade, the public sector banks have India had pulled out Bank of India, Oriental Bank been consistently earning operating profits year of Commerce and from its after year, but unfortunately nearly 70 per cent of PCA framework, which imposes certain lending these hard-earned profits are being evaporated due restrictions on financially weak banks. to mandatory provisions for bad loans and non- performing assets, in line with the guidelines of the A senior executive with a PSU bank said smaller apex bank,” he said. banks have begun consolidating their operations in the same geography by closing overlapping branches - The Hindu Business Line, 02/05/2019 and focusing on niche areas. “Merger is not the Introduction of new pension scheme in SBI has antidote for every banking woe. The government ‘no legal effect’, rules Kerala High Court should not force mergers only to create toobig-to- fail structures,” he said. In an interaction with ET The High Court of Kerala has declared that the last week, managing director introduction of Defined Contributory Pension and chief executive Sunil Mehta had said that his Scheme/New Pension Scheme (NPS) in State Bank bank has now made a turnaround and can consider of India ‘has no legal effect’. offers for acquiring other lenders. “It all depends on State Banks’ Staff Union (SBSU), Kerala Circle, the offers,” he said. had argued in a petition that the introduction of - The Economic Times, 30/04/2019 the scheme for members joining service on or after August 1, 2010, took away the right to get pension RBI must review its disclosure policy: AIBOC based on the pension rule in vogue in SBI. Giving The Reserve Bank of India should critically review a brief history, A Raghavan, General Secretary, its Disclosure Policy from time to time, especially SBSU (Kerala circle), said that the ninth bipartite policies pertaining to Regulatory and Supervisory settlement had made the NPS applicable across the Activities, according to the All India Bank Officers’ industry, excluding SBI. Despite provisions

The unspoken word never does harm. -Kossuth Officers’ Voice, June 2019 11 to exclude the bank as per the settlement, the in the previous fortnight, as per the data released management had unilaterally gone head to by the RBI. implement the NPS from August 1, 2010. Outstanding loans to companies and individuals Appearing on behalf of the petitioners, counsel S stood at Rs 95.77 lakh crore at the end of April 26, Vaidyanathan and H Ganapathy contended that the marginally lower than Rs 96.08 lakh crore on April SBI Act, 1955, does not empower its Central Board 12. Aggregate deposits in the banking system grew to amend the pension rules without due process of 9.7% y-o-y to Rs 124.86 lakh crore as on April 26, law. Neither could this be done with retrospective a shade slower than 10.6% y-o-y deposit growth in effect, they said. An amendment can be brought the previous fortnight. Banks have been concerned in only in terms of the various provisions under about the slowing growth in deposits and have been Section 50 of the Act. compelled to raise interest rates on these.

Non-compliance “We believe that the low deposit growth is But Section 50(4) clearly states that every attributable not only to the technical reasons but regulation shall, as soon as it is made by the also to the structural and cyclical factors like Central Board, be forwarded to the Centre, and lay a change in household behaviour from saving- a copy before each House of Parliament in session focused investor to consumption-focused leveraged for a period of 30 days. Both Houses must agree on consumer,” said anaylysts at Edelweiss research. making any modification in the regulation before SBI on Friday announced a smart increase in loans implementation. Thereafter, it should be notified in in Q4FY19 of 12% year-on-year. The ICICI Bank the gazette. Delivering the judgement, Justice CT management, while announcing March quarter Ravikumar alluded to similar petitions filed earlier results, told reporters that loan growth for 2019- also contending that the introduction of NPS was 20 would largely depend on liquidity, competitive ‘bad in law’, owing to non-compliance with the intensity and risk-return payoff. Banks have been mandatory provisions under Section 50. cutting their lending rates lately, for instance, SBI on Friday reduced its marginal cost of funds-based Even if the bank was only implementing the policy lending rate (MCLR) by 5 bps to 8.45% per annum. of the Centre, it could not overlook the statutory The retail segment continues to be the key loan- mandate under Section 50 in respect of service growth driver, particularly personal loans, credit conditions related to pension. cards and auto loans, Amitabh Chaudhry, MD & CEO, , said recently. “Retail franchise Judgment in that case had observed that the NPS is coming from existing customers and we will would have to be introduced as a regulation, as continue to leverage on this strength,” Chaudhry contemplated under Section 50, and will have to added. follow the procedure under Section 50(4) to have a legal effect. Justice Ravikumar observed that Analysts at Kotak Institutional Equities said that “going by that judgment, the NPS (has) got no legal the ongoing improvement in the balance sheet effect. In such circumstances, I am of the view that of banks can support overall credit growth by the NPS is not now available for consideration”. offsetting NBFCs’ likely lower disbursements. This - The Hindu Business Line, 08/05/2019 was in the context of liquidity problems of NBFCs and possibly solvency challenges of certain housing Non-Food credit grew 13% in fortnight ended finance companies (HFCs) dampening credit growth April 26 and consumption demand.

Non-food bank credit grew a reasonably good - Financial Express, 11/05/2019 13.13% year-on-year (y-o-y) in the fortnight ended April 26, although somewhat slower than the 14.2%

In youth we learn; in age we understand. -Marie Ebner-Eschenbach Officers’ Voice, June 2019 12

in Annexure-I and the step by step procedure for circular round up entering and updating the KYC details in CBS are furnished in Annexure-II. 01. Scheme for extending soft loan to Sugar 04. Notification to ECGC Ltd. for restructuring mills to facilitate payment of cane dues of the of Export Advances sanctioned to exporters in farmers for the current sugar season 2018-19 – MSME Sector that are stressed and in default Modification but “Standard”. (Credit Policy & Planning Section, Credit Division, HO (Treasury & Investment Department, HO Circular Circular No.264/2019 dated 23.04.2019) No.271/2019 dated 30.04.2019) As advised by NABARD, some of the operational In terms of ECIB (WTPC/WTPS) cover issued by guideline for sanction of Soft Loans to sugar Mills ECGC Ltd., branches are required to seek and obtain under Consortium/ Multiple Banking Arrangement prior approval of any restructuring of the account communicated at para 3.03 of vide HO Cir covered under ECIB-Whole Turnover covers, 214/2019 dated 29.03.2019 has been modified. irrespective of the limit sanctioned to the exporters. Modified guideline is furnished in the circular along Now, RBI vide its circular dated 01.01.2019 has with revised Bank Form II to be used for submitting permitted banks to effect one-time restructuring of claims is enclosed as Appendix I to the circular. existing loans to MSMEs classified as “Standard” 02. Credit Linked Capital Subsidy Scheme without a downgrade in the asset classification (CLCSS) - Clarification on creation of term subject to certain conditions stipulated therein. deposit out of subsidy amount received. In this regard, ECGC has clarified that “such (MSME Division, HO Circular No.266/2019 dated one-time restructuring of existing PC/PS limits 25.04.2019) sanctioned to MSMEs classified as “Standard” without a downgrade in the asset classification The term deposit should be made for a period of does not require prior approval of ECGC and a three years from the date of approval of subsidy mere notification of the limit on restructuring with by Primary Lending Institution/Bank mentioned relevant details in the prescribed form is sufficient. in the online application. If there is any delay in release of subsidy under CLCSS by the office of 05. Deduction of TDS from Pension of Central DC, Ministry of MSME, the term deposits should Govt./ State Pensioners. be made for the duration of three years from the (Government Business Division, Centralized Pension date of commercial production by the unit after Processing Cell (CPPC), HO Circular No.273/2019 dated purchasing the said machinery. Further, if the 02.05.2019) term loan is converted into the foreign currency In order to deduct TDS from the pension credited term loan, the subsidy cannot be converted into to pensioners, CPPC has obtained separate TAN foreign currency and it should be kept in the form Number and TDS from the pension of Central/ of TDR in rupee denomination only. Karnataka State Pensioners is being deducted 03. Entering/updating of KYC details in respect as per the entries done by the branches in PLUM of CASA accounts in CBS is made mandatory for Menu. The TDS rates for the FY 2019-20, exempted KYC compliance. category from TDS and the procedures to be followed (KYC and AML Cell, HO Circular No.269/2019 dated by the branches are furnished in the circular. 30.04.2019) 06. OTS accounting entries - Centralized setup. In order to ensure KYC compliance at the time of (Recovery Division, HO Circular No.274/2019 dated opening of CIF IDs/Accounts, entry and up-dation 02.05.2019) of some of the fields related to KYC have been made Accounting entries to be passed in Finacle are mandatory. Further, reasons for the error message more structured and there is a need to follow due that appears while carrying out KYC validation in process. Further, change in accounting policy in CBS in respect of both retail and corporates and the appropriation of recovery in NPA accounts also action to be taken in each of the cases, are furnished need to be taken care off while passing entries in

The mother, hearing her son’s merit Delights more than when she begot -Thirukkural Officers’ Voice, June 2019 13 all OTS settled accounts. In view of this, passing performance of Branches, Zones and Circles would of accounting entries in all OTS settled accounts henceforth be assessed based on the revised system is being centralized at HO-Recovery Division and from June 2019 quarter onwards. all related menus HCOTA, HCOLA, HRACO & 10. Obtention of GSTIN numbers from the MSME HTARACO are disabled for the branches. borrowers Revised procedure/process flow in Finacle (MSME Division, HO Circular No.283/2019 dated environment that is being implemented w.e.f. 6th 10.05.2019) May 2019 vis-à-vis that followed in legacy-CBS is With GST in place, the Micro, Small and Medium furnished in the Circular. Enterprises have been accorded with a lot of 07. Standard Operating Procedure relating to benefits in terms of compliance reliefs given in the ECGC Whole Turnover Policies form of interest subvention, threshold exemptions, (Treasury & Investment Department, HO Circular composition levy scheme, Quarterly filing of the GST No.276/2019 dated 04.05.2019) returns etc., Further, Reserve of Bank of India has also provided relief to MSMEs by way of extending To mitigate the risks involved in Export Finance additional time for repayment of dues. In view by Banks, ECGC has introduced Export Credit of the same, branches shall ensure that MSME/ Insurance for Banks (ECIB – WTPC) covering business loans are disbursed to entities registered advances granted at Pre-Shipment stage and with GSTIN and GST Number has been updated in Export Credit Insurance for Banks (ECIB – WTPS) the system. covering advances granted at Post Shipment Stage. Standard Operating Procedure (SOP) and 11. Mandatory Participation of Office Heads the detailed guidelines relating to ECIB (WT-PC) in Town Official Language Implementation and ECIB (WT-PS) are provided in Annexure 1 & Committee (TOLIC) meetings Annexure 2 of this circular respectively. (Official Language Division, HO Circular No.284/2019 dated 13.05.2019) 08. Automation of ECGC premium calculation (Treasury & Investment Department, HO Circular Town Official Language Implementation Committees No.277/2019 dated 04.05.2019) (TOLIC) constituted in major towns and cities as per the instructions of Department of Official ECGC monthly premium with effect from May, Language, Ministry of Home Affairs, Government 2019, will be calculated automatically every month of India plays a vital role in the monitoring and and the premium will be parked in SUND-CR- reviewing the progress made in the implementation ECGC Premium Parking Account of respective of Official Language in Banks, Undertakings and Branches. Branches need to remit the premium to Central Government Offices in respective town ECGC by debiting the office account after verifying and cities. As such, all the Branch Heads & Office the correctness of the same and also send monthly Heads are advised to compulsorily attend the statement of ECGC premium. half-yearly meetings of local TOLICs without fail 09. Revised scoring pattern for performance and also submit the progress report on Official review of Branches/Zones/Circles-STAR Rating Language Implementation, to respective TOLIC, in (Planning & Development Division, HO Circular the prescribed format within the stipulated time. No.280/2019 dated 06.05.2019) 12. Recovery Policy 2019 Revised performance parameters for review of (Recovery Division, HO Circular No.285/2019 dated Branches/Zones/ Circles has been introduced that 13.05.2019) is based on the incremental growth in business Board has approved the revised Recovery Policy of and percentage achievement in targets. The revised the Bank incorporating new Additions/ Deletions/ scoring pattern for target achievers along with the Amendments/Modification. While major changes/ weightage assigned to each parameter is given in revisions/ modifications in the recovery policy are the annexure to the circular. The revised scoring furnished in the circular, revised policy is annexed pattern would come in to effect immediately and to the circular.

Conscience is the chamber of justice. -Origen Officers’ Voice, June 2019 14

When can they be bought? class room Electoral bonds are available for purchase for 10 ELECTORAL BONDS days each in the months of January, April, July and October. An additional period of 30 days would Yet another election season is upon us. The general be specified by the Centre in the year of general election this time round is expected to be even more elections. An electoral bond can be purchased by exciting as the spend is going to be the highest ever, any donor with a KYC-compliant bank account. according to political pundits. Electoral bonds were Are all political parties eligible to receive launched on January 2, 2018, with the promise of electoral bonds? transparency and cleaning up the political funding system in India. Has such an outcome been Only political parties registered with the Election realized? Commission (EC), which have secured not less than one per cent of the votes polled in the most recent What are electoral bonds? election to the Lok Sabha or a State legislative Electoral bonds are bearer instruments in the nature assembly, can accept electoral bonds. of Promissory Notes issued by banks. They are Will the EC know how much each political party interest-free instruments. They can be purchased receives? for any value in multiples of Rs. 1000, Rs. 10000, Rs 1 Lakh, Rs. 10 lakh and Rs 1 crore. Electoral Yes, electoral bonds can be en-cashed by the political Bonds are valid for 15 days from purchase, during party only through a designated bank account held which time they can be used to make donations to with an authorized bank. Every political party has to specified political parties. submit details of its designated account to the EC. Why were they launched? The big question: Which political party has benefited the most from electoral bond? They were aimed at making political funding more transparent. The argument was that banks would The BJP was the biggest beneficiary in 2017-18, be able to track the buyers of electoral bonds accounting for 94.5 per cent of the bonds worth a through their KYC details and thus ensure that little over Rs. 210 crore. The BJP is likely to emerge clean money comes into system, while protecting the biggest beneficiary this year as well. the donor’s anonymity. The conventional practice So how much has been donated through electoral of funding elections via cash was expected to be bonds? minimized with electoral bonds coming into the Electoral bonds worth about Rs. 835 crore were picture. bought during April-December 2018, nearly four So why are they being seen as a boon for times the amount in the previous fiscal. In the six corporate donors? tranches of electoral bonds floated until November It’s manna for corporates as their funding of 2018, bonds worth Rs. 1,056.73 crore were political parties can remain anonymous. There is purchased. no cap on the quantum of electoral bonds that can What do critics have to say? be purchased by them and the payee’s name need In the name of transparency, they say, the not be disclosed in their annual reports. Companies government has made political funding more opaque. also need not face awkward situations in dealing The Income Tax Act and the Companies Act have with political parties, as recipient names are not been amended to facilitate corporate contributions disclosed. through electoral bonds. The earlier 7.5 per cent Who are eligible to buy ‘electoral bonds’? ceiling on political donations by companies has Any citizen of India or a body incorporated in India been removed and even companies which make can purchase bonds from specified branches of the losses can now donate via electoral bonds. . - The Hindu Business Line, 19/03/2019

Absence makes the heart grow fonder. -Thomas Haynes Bay Officers’ Voice, June 2019 15

miscellany TCS solution helps modernise 1.5 lakh post offices

CBDT amends Form 16, Form 24Q for detailed India’s largest IT services company Tata Consultancy reporting on TDS Services (TCS) said it has developed an integrated solution for India Post that has helped modernise The Central Board of Direct Taxes (CBDT) has a network of more than 1.5 lakh post offices in the notified amendments in Form 16 — which acts country. as certificate for tax deducted at source (TDS) — and Form 24Q — quarterly TDS statement for In 2013 the Mumbai-based company had received salaries. The new forms require taxpayers to provide a Rs 1,100 crore multi-year contract from more details related to bifurcation of exemptions the Department of Posts for an end-to-end IT under Section 10 of the Income Tax Act, various modernisation project. deduction under Chapter VI-A, disclosure of The partnership was aimed at equipping India Post standard deduction amount and other income. with modern technologies and systems to enable it Section 10 covers several tax-free allowance as to offer more services to customers in an effective part of the salary, including leave travel, uniform, manner travelling and house rent. The I-T Act requires every employer to issue a certificate furnishing details “At the heart of this transformation is the Core of salary along with the tax deducted at source of System Integration (CSI) program designed and its employee in Form 16. Also, a comprehensive implemented by TCS. This involved deploying statement furnishing detail of salary and tax an integrated ERP solution that caters to mail deduction for all the employees is required to be operations, finance and accounting, HR functions, filed with the I-T department by the employer on a and connects its vast network of more than 1.5 lakh quarterly basis in Form 24Q. post offices, making this the largest distributed e-postal network in the world,” TCS said in a With these amendments, deductions under 80C, statement. 80CCD, 80E and 80G would have to be disclosed separately whereas they were clubbed together The integrated solution provided by TCS supports earlier. The amendments would ensure that these requirements of more than 5 lakh employees, forms are in parity with latest changes made in services over 40,000 concurrent users and I-T return forms such as disclosure of standard processes over 3 million postal transactions a day, deduction and exemptions claimed under Section making this one of the largest SAP implementations 10, Sanjoli Maheshwari, director at Nangia Advisors globally, it added. (Andersen Global) said. PoS Solution These specific disclosures would make it easier for tax authorities in understanding a taxpayer’s salary On the front end, TCS said it has implemented components, facilitating more precise scrutiny. its Point of Sale (PoS) solution across 24,000 post offices in 80,000 PoS terminals, and has also built Also, given that the I-T department relies on a web portal with consignment tracking capabilities employer to make accurate disclosure, these and set up a multi-lingual call centre for customer amended forms would bring more accountability support. on part of the employers. “It is now mandatory for employer to furnish “An important objective of the transformation Permanent Account Number (PAN) of the lender is to use the department’s nation-wide reach (other than the financial institution) in case where to drive financial inclusion and accessibility of the employee has taken loan for house property citizen services in remote areas. “This is being and claimed deduction for interest paid. This accomplished through over 1.3 lakh Darpan hand- will further help in identifying any fabricated held devices that Gramin Dak Sevaks use to provide transaction undertaken with an aim of tax postal, banking, insurance, and cash management avoidance,” Maheshwari said. services in remote villages, even those without network connectivity,” TCS said. - Financial Express, 17/04/2019 Officers’ Voice, June 2019 16

providing information but it has to follow a well- Staying relevant defined protocol to ensure fair practices.” Debashis Ghosh, TCS Business Group Head (Public Financial Express, 01/05/2019 Services), said postal services across the world are reinventing themselves to stay relevant to a new Tax filings dips 1% in FY19 generation in the digital era. The number of people filing income tax returns - The Hindu Business Line, 22/04/2019 has declined by a full 1 per cent in fiscal 2019, despite the increased government focus to broaden I-T dept to share taxpayer info with GSTN the base, indicating a deepening slowdown in the In what would ensure a systematic and formalised overall economy, says a brokerage report. Citing exchange of information between direct and official data, a report by brokerage Kotak Securities indirect tax departments, the Central Board of said that only 66.8 million returns were filed in Direct Taxes (CBDT) on Tuesday appointed a FY19 as against 67.5 million in the previous fiscal. nodal officer to oversee flow of taxpayer’s data to “This is surprising given that post-demonetisation, the Goods and Services Network (GSTN) – which it was expected that the tax base would continue is the IT backbone for GST. Earlier this year, the to increase,” the note said and warned that such income-tax department had released new return a happening is a worry from the fiscal math forms for assessment year 2019-20, which require perspective. The report warned that the falling tax the taxpayers to provide additional business details numbers do not offer “much comfort” to the overall including total income, turnover ratio and other marco economy, as this corroborates the fact GST payment related information. that a number of economic activity indicators are The GSTN can now approach the IT department signaling a slowdown in parts of the economy. The and request for exchange of information related to report questions whether compliance was weaker assessee through the nodal officer. The information in the latter part of FY19 and said it expects the can be on status of filing of income tax returns, new government will aim at increasing the filings turnover declared and gross total income among and collections in FY20. others. Further, spontaneous and automatic Tax base exchange of data would also occur under specific conditions which would be decided by concerned “The government needs to look at further expanding authorities, the CBDT order said. the tax base (optimally using the data repository from note-ban and GST). Without a significant “While furnishing the information, the specified improvement in the tax base, the medium-term income-tax authority shall form an opinion that growth path will be at risk,” it warned. The brokerage sharing such information is necessary for the said there has been an increase in the filers in the purposes of enabling the specified authority in higher income brackets and that data analytics will GSTN to perform its function under the Goods and hold the key from here on. A relatively muted tax Service Tax,” the CBDT order said. The exchange of filing growth will create further headwinds inan information would be contingent on the agreement entered into by the nodal officers of the GSTN already stressed fiscal space, it said. and IT department. The agreement would dictate - The Hindu Business Line, 02/05/2019 norms for exchange of data and maintenance of Godrej Properties gets the keys to iconic R K confidentiality, mechanism for safe preservation of Studios, set to build luxury project data, weeding out after usage among other aspects. After 71 years of playing host to thousands of films Rakesh Nangia, managing partner at Nangia and their crews, the cavernous halls of the iconic Advisors(Andersen Global), said: “With more R K Studios will no longer hear echoing shouts of information in hand, the government would be ‘lights, camera, action!’. It was early last year when able to validate amount of income disclosed both Rishi Kapoor announced his family’s decision to sell under the income-tax and GST which would enable it off. Established by his late father Raj Kapoor in the authorities to identify any under-reporting / 1948, the studio finally changed hands on Monday non-reporting of income, if any. Though, the order with Godrej Properties snapping it up. Clichéd as it provides extensive powers to specified authority for Continued on page 25 Officers’ Voice, June 2019 17

women's wing

HO-Mangalore Units on 09.03.2019

Women’s Day was celebrated by various Zonal units of CBOO. A glimpse is furnished here below:

HO & MANGALORE

International Women’s Day was celebrated jointly Sneha Roy, Zonal Lady Secretary, HO Unit by Head Office and Mangaluru Zonal units on welcomed the guests and invitees. In his introductory 9th March at CBOO Centre. Smt. P V Bharathi, speech, Satish Shetty, General Secretary, greeted Managing Director & CEO was the Chief Guest. all women on the occasion of International Women’s President, Y Sudhindra, Satish Shetty, General Day. He pointed out that Women’s Day is celebrated Secretary, accompanied by other central office to bring an awareness about women’s rights and bearers, Shikha Srivastav, Secretary, Women’s endevour for their betterment in life. Many women Wing, Zonal Lady Secretaries, Shilpa (Mangaluru) suffer silently in rural and remote areas and those and Sneha Roy (Head Office) were present along who suffer in the name of religious/orthodox beliefs with other Zonal functionaries. need the real help, he said. While congratulating the organisers of similar programme at Head Office on 8th March, he said it was a befitting welcome to our respected MD and CEO, Smt. P V Bharathi. He also explained briefly, the officers’ movement in the Bank since 1973 and formation of Women’s Wing in CBOO. He also informed the gathering on various activities under SWASTI and education and training under the aegis of Balasubramanian Foundation.

Shikha Srivastav, Secretary, Women’s Wing, while addressing the gathering said, God created Officers’ Voice, June 2019 18

responsibility and enjoy work. She said that she is looking forward for many more to come forward and take up higher responsibilities in the days to come.

women beautiful, sensible and responsible. God has also given power to women to bear with the difficulties as the women sacrifice for the cause of her family. She complimented HO and Mangalore With sustained efforts of the rank and file and Units for the splendid show of solidarity and hoped infusion of capital by GoI, our beloved Bank is out that Women’s Day will be celebrated next year with of PCA frame work. Now, we are out of ICU and added purpose to help the needy. in ward, more care is required to stay healthy, she said. Lauding the OV editorial, “Hopes of Change” and “Capital, Cap It All”, she said that change should be towards growth, prosperity, development and happiness. This depicts the commitment as well as challenge. It is we who need to bring the change that is better for the Bank, she concluded.

Smt. P V Bharathi, Managing Director & CEO, in her inaugural address, felt a sense of belongingness among the gathering. This kind of celebration shall be there every day. Women’s Day is celebrated mainly to thank women who contributed for the well being of the society. People across the country are challenged due to many problems and especially Indian women face more of such problems. Ever increasing busy life style has eroded family values; In his address, President, Y Sudhindra, spoke she said and cautioned parents on the ill effects on the origin and purpose of Women’s Day. He of mobile, WhatsApp, social media on the psyche paid rich tributes to great women leaders who of children. In olden days, through joint family shaped the life and destiny of many. He recollected concept, children learned to help each other, but in the contributions of Abbakka Rani, Jhansi Rani today’s world of nuclear families, it is missing. Laxmibai and others for the courage and valour in the country’s freedom struggle. He concluded In our Bank, women constitute 30% of the his speech with a verse meaning, “The divine are workforce; but many are not ready to take up higher extremely happy where women are respected; where responsibilities due to their familial issues. Our they are not, all actions (projects) are fruitless.” lady colleagues should come forward and take more Officers’ Voice, June 2019 19

Spot Quiz was conducted thereafter and prizes to Ahmedabad the winners was distributed. International Women’s Day was celebrated at Shilpa, Zonal Lady Secretary, Mangalore Unit STC, Ahmedabad on 09th March. The function proposed vote of thanks. The program was well was inaugurated by Sri N Satya Prasad, General compered by Deepa and concluded with National Manager & Circle Head and was attended by both Anthem. DGMs.

In the post lunch session, all the women participants Dr. Mukesh Bavishi, noted and award- winning moved to Thannirubavi Beach for fun games. Gynecologist delivered key note address. In the - Prakash Rao, Zonal Secretary, HO Unit & open session that followed Dr. Bavishi clarified on - Vikram Nayak, Zonal Secretary, Mangalore Unit a range of questions posed by the audience. In the next two hours, the participants enjoyed fun games KOLKATA and won prizes in different games. A total of 20 On 08th March, 2019, all the branches in Kolkata women participated in the program. and North East celebrated Woman’s Day at their respective branches. Chocolates and Flowers were presented to them as a mark of respect and in acknowledgement of their contribution. At Zonal office, Kolkatta all the lady members cut cake to celebrate the special day in the presence of Zonal Head and Deputy General Manager, Sri Ramesh Chandra Prabhu, and other staff members.

- Jasbir Singh, Zonal Secretary

Ludhiana Zone

On 09th March, a function celebrating International Women’s Day was organized at Kharar. Zonal Lady Secretary, Ruhi Tyagi welcomed the gathering. On the occasion, Ms Priyanka Mittal, renowned Dietician and Nutritionist was invited as Chief Guest. The function was attended by lady members - Roshan Xavier Kujur, Zonal Secretary from Ludhiana and nearby branches. Ms Priyanka Officers’ Voice, June 2019 20

The program began with an invocation of Gods Blessings followed by lighting of the lamp by the dignitaries. Welcome address was delivered by Circle Secretary, Devkanth Pawar. Two minutes’ silence was observed in the memory of the martyrs in the Pulwama attack. Zonal Chairman (South), Shivesh Swarup recited a poem for all the women.

Dr Sudha Patil, Head of Gynecology, Akash Hospital briefed the women participants on the gynecological issues. She also stressed on the importance of regular health checkup and several lady members sought clarifications on health- related issues.

Mittal, gave useful tips to the audience with regard Guest of Honor, Smt Sharada Murthy, Assistant to their daily routine and to maintain good health. General Manager shared experiences from her The participants enjoyed the function which journey of life in Corporation Bank. She also spoke included games and dance etc. The function was on how tune the mindset to manage both family well appreciated by the lady members of our Zone. and office work . She shared her experiences of - Ruminderjit Singh Virdi, Zonal Secretary working in 7 different states from East to West and South. She acknowledged the support given by her Bengaluru - North & South Zones husband in achieving this endeavor and the speech International Women’s day was jointly organized by was an eye opener and inspiring. Bengaluru North and South Zones at BNS Party Ms Sneha Arora a fitness trainer and owner of th Hall, Basavanagudi, Bengaluru on 9 March. Dr. You Tube channel “chrisfit.exercise” thought simple Sudha Patil, Head of Gynecology, Akash Hospital, dance exercises specifically for those with joint Ms Sneha Arora, Fitness Trainer and Owner of pains, knee pains etc., which can be done at home Chrizfit and Dr Rubina, Infertility Specialist, irrespective of the age group. She took a session Cloudnine Hospital were Chief Guests, while Smt. on the benefits of eating right and proper mode of Sharada Murthy, Assistant General Manager, exercising and cleared doubts on weight gain/loss. Malleshwaram Main was the Guest of Honour. She also taught simple exercises that would benefit in releasing stress and keeping the practitioner fit.

Dr Rubina, Infertility Specialist, Cloudnine Hospital, Bangalore spoke on the alarming rate of increase of obesity in India that is affecting the fertility of young women due to stress and lifestyle habits. She also spoke about PCOD-Polycystic Ovarian Disease - on how to overcome it apart from dealing with hormonal imbalance. While stressing on the importance of regular health check - ups that should include thyroid and hemoglobin etc., she spoke about menstrual phases and ovulation. Inaugural programme was attended by Circle Cloudnine Hospital sponsored free consultation Secretary, Devkanth Pawar, Zonal Secretary, coupons to all the members present there and Bengaluru-South, Y S Anand, Zonal Chairman, have also provided discount vouchers that can be Bengaluru-South, Shivesh Swarup and Deputy redeemed during lab tests. Zonal Secretaries, Praveen Kamath and Murthy. Officers’ Voice, June 2019 21

The entertainment programs and various one-minute games followed the lectures and prizes were distributed to all the winners. - G K V Subba Rao & Y S Anand, Zonal Secretaries

Chief Guest, Mrs. Poornima Gaitonde, Senior BELGAUM Divisional Manager, LIC of India narrated the On 13th March, Woman’s Day Celebrations were significance of Women’s Day as to how it appears organized at Belgaum. Mrs. Poornima Gaitonde, as a celebration of respect, love, appreciation Senior Divisional Manager, LIC of India, Belagavi and care towards women. She also briefed about Divisional Office and Dr. Vaishnavi Kathavate, MD the insurance policies which cover risk related to in Ayurveda were the Chief Guests. cancer and other ailments etc.

The program commenced with a prayer by Surekha Dr. Vaishnavi Kathavate, Nutritionist and Bhosale. Pooja Harawadekar welcomed the Chief Researcher, Agriculture University of Dharwad Guests and the audience. spoke on how women are prone to certain diseases and the need to take steps on the right direction Pushpa N Kishor, Deputy Zonal Head addressed early to stay fit and healthy. She also highlighted the gathering and shared her views about woman on health issues such as cancer, maternal health, empowerment, different roles and responsibilities mental health and the cooking methods by which that woman take up and the importance of her role essential nutrients can be consumed to stay in the daily life. healthy. Officers’ Voice, June 2019 22

The celebration was attended by nearly 40 ladies cutting across cadres. Sahilpa Divatagi, Zonal Lady Secretary proposed the vote of thanks.

- Manoj S Chinchwad, Zonal Secretary

KOCHI and Venkideswaran S, Zonal Secretary also spoke Women’s Day programme was organised on 24th on the occasion. March at Hotel Pearl Regency, Trichur. Assistant The meeting was followed by the cultural programme General Manager and Deputy Zonal Head, Ms S. organised by members. 12 members sang on the S. Lavanya was the chief guest who inaugurated occasion; a few performed instrumental music and the function. Mrs. Deepa Sivadasan, Senior humorous skits. The cultural activities were well Divisional Manager, LIC of India was the Guest coordinated by Raju Paul, Deputy Zonal Secretary. of Honour and delivered key note address on “The problems faced by women in general and working More than 60 members participated in the program. women in specific”. Shika Srivastava, Secretary, Mrs. Rema, Assistant Manager, RLC, Kochi who Women’s Wing along with Sobha L, Deputy was retiring on VRS was felicitated. General Secretary also attended the function. Rajesh D S, Deputy Zonal Secretary proposed the Smitha Suresh, Zonal Lady Secretary welcomed the gathering. Somasundaran K, Zonal Chairman vote of thanks.

- Venkideswaran S, Zonal Secretary Officers’ Voice, June 2019 23

HYDERABAD also explained the struggles she had faced in her life and career which impressed and motivated all Women’s Day was celebrated by Hyderabad Zone our lady members. at Ashoka Hotel, Hyderabad on 31st March. Smt. Prashanti Vangeepuram, Deputy Commissioner, Zonal Secretary, G Bhavani, congratulated the Greater Warangal Municipal Corporation was the lady members for turning up in large numbers and Chief Guest. said that number of participants should increase from year to year. “CBOO Hyderabad" unit has been The programme commenced with a prayer by celebrating this event for the past 4 years and as is Smt. Lalitha and followed by lighting the lamp by the custom, this year also we have invited not only the Chief Guest and others. Venkata Mano Shilpa, CBOO members but all the lady staff” she said. She Zonal Lady Secretary, welcomed the gathering and thanked Chief Guest for accepting the invitation in requested all the ladies to actively participate in all spite of her busy schedule and explained the activities the events to be organised during the day. of CBOO and the contribution of CBOO to the society Chief Guest, Smt. Prashanti Vangeepuram, through SWASTI. She urged all the officers to actively spoke eloquently on the difficulties for a woman participate in all the activities of CBOO. to come up in career. “Despite standing 9th in the Area Secretary, Deepa, proposed vote of thanks and overall ranking amongst all the candidates and the program was well compered by Ranjini Pillai. 3rd among women, I had to strive hard”, she said. The program was followed by cultural activities and She motivated and encouraged all lady members music, musical chair and other events. Other Zonal to never give up in life and always try achieving Committee members extended logistical support. something new which boosts the energy levels. She

- Bhavani. G, Zonal Secretary

Hubli The program was also attended by Smt and Sri Lakshminarayana Bhat, Zonal Head and Deputy On 23rd March, 2019, International Women’s Day General Manager and Smt and Sri G Krishna was celebrated at Hubli. Dr. Spurthi N Nayak, Murthy, Assistant General Manager, NCM-Hubli. Agricultural Scientist, University of Agricultural Sciences, Dharwad; Dr. Saraswati Patil, Obstetrician The program began with an invocation of Gods & Gynaecologist, KIMS, Hubli and Smt. Nanda blessings by Kalpana Kavalekar, Savitha Bhat and Madhavi. Rajeshwari Desai, Zonal Lady Anegundi, a renowned student counsellor were the Secretary welcomed the chief guests and the Chief Guests. audience. Officers’ Voice, June 2019 24

Dr. Spurthi N Nayak, Agricultural Scientist, woman. She also shared tips on maintaining work- University of Agricultural Sciences, Dharwad life balance especially managing children in current in her address shared views on the role of Women busy life. She advised everybody follow 9 minutes in Agriculture and Entrepreneurship and covered role to balance mindset of any children, that was relaxation methods through home gardening inspiring. especially terrace gardening. She also discussed on Sri Lakshminarayana Bhat, Zonal Head how some of the health issues changed positively by and Deputy General Manager in his address adopting gardening methods in our daily routine life. congratulated the zonal team for arranging the Dr. Saraswati Patil, Obstetrician & gynaecologist, program in a beautiful way and advised them to shared information on health and hygiene related continue to organise such meetings that will help issues, its importance especially at working place. It empower and embolden more women to take higher was a very informative session. She also conducted free responsibilities. medical health check-up for all participating ladies. Smita Sulakhe proposed vote of thanks and the Smt Nanda Anegundi, renowned program was well compered by Kalpana Kavalekar. student counsellor shared the views on “How Logistical support was provided by Zonal Secretary important is a women’s role in everyone’s life” and and other Zonal Committee members. how one should feel proud and important of being a

- Ramachandra Waichal, Zonal Secretary

Notice

This is to inform all our members that renovation of Central Office is being undertaken and will be in progress up to 30th June, 2019. As such, Central Office will temporarily function from CBOO Centre, Kodialbail, PVS Kalakunj, Mangalore. None of the landline numbers of the Central Office will be working and all concerned may contact the respective functionaries on their mobile or contact CBOO Centre on 0824-2493698.

All are requested to co-operate with us. Inconvenience caused is regretted. - General Secretary Officers’ Voice, June 2019 25

Continued from page 16 may sound, this marks the end of an era where the Cyclone Fani pounded the Odisha coast on Friday, studio served as the headquarters of Kapoor’s film the name, which was suggested by Bangladesh, production company: R K Films. Godrej on Friday also evoked curiosity. Mritunjay Mohapatra, the said that it is currently in the process of converting additional director general of the India Meteorological the 3.5 lakh square feet of land into residential Department (IMD), said Fani, pronounced as ‘Foni’, apartments and luxury retail space. While the size means a snake’s hood. But how are cyclones of the deal has not been disclosed, the market value named? The World Meteorological Organisation/ of the property is estimated at around Rs 200 crore. Economic and Social Commission for Asia and the The studio is prime real estate, located in close Pacific Panel on Tropical Cyclones, at its twenty- proximity to hospitals, retail malls and residential seventh session held in 2000 in Muscat, Oman, and commercial areas. “We are happy to add this agreed to assign names to the tropical cyclones in iconic site to our development portfolio. This fits well the Bay of Bengal and the Arabian Sea. After long with our strategy of deepening our presence in key deliberations among the member countries, the locations across India’s leading cities,” said Pirojsha naming of tropical cyclones over the north Indian Godrej, executive chairman, Godrej Properties. Ocean commenced from September 2004.

Raj Kapoor decided to expand R K Films into a The eight countries along the Bay of Bengal and the studio in 1950, reportedly using the earnings from Arabian Sea suggest names that are sequentially his 1949 hit Barsaat. “In the Bombay of the 1950s listed. The nations suggest names alphabetically this was a remote rural place, far from its centre in — Bangladesh, India, Maldives, Myanmar, Oman, south Bombay,” wrote Mihir Bose in Bollywood: A Pakistan, Sri Lanka, and Thailand. The Regional History. Specialised Meteorological Centre (RSMC) based R K Films entered its golden period with the release here gives a tropical cyclone an identification from of Awaara (1951), Boot Polish (1954), Shree 420 the names list. The identification system covers (1955) and continued to turn up crank out films both the Arabian Sea and the Bay of Bengal. So, for in the 70s and 80s like Mera Naam Joker (1970), instance, Bangladesh suggested ‘Onil’ the first in Bobby (1973) and Satyam Shivam Sundaram (1978) the list. Onil originated in the Arabian Sea, off the were shot. Until 2017, R K Studios housed all the Gujarat coast between September to October 2004. memorabilia of R K Films including costumes used It made landfall in the state but impacted both in various movies, trophies won by Raj Kapoor and India and Pakistan. Cyclone Phetai, suggested by rare photos, posters and many such novelty items. Thailand, originated in the Bay of Bengal and made That year, however, a devastating fire gutted a major landfall in Andhra Pradesh, ravaging the coastal part of the studio. After failed attempts to renovate districts in December last year. The next cyclone, it, the Kapoors put it on the market. Eldest son of whenever it originates, will be named ‘Vayu’, Raj Kapoor, Randhir Kapoor had said after the sale suggested by India. Of the 64 names suggested by that the cost of maintaining the iconic studio was these eight countries, 57 have been utilized. Some too high. Studio sitting on highly valued real estate. of the names suggested by India are Agni, Jali, According to local sources, current commercial Bijli, Akash, while Mala, Helen, and Nilofar were property rates in and around Chembur, where the suggested by Sri Lanka, Bangladesh, and Pakistan studio is located, range from H25,000-29,000 per respectively. These lists are used sequentially and square feet. Work on the designs for Godrej’s mega- they are not rotated every few years, unlike the project are set to begin shortly. Atlantic and Eastern Pacific lists. “A storm causes so much death and destruction that its name is - The New India Express, 04/05/2019 considered for retirement and hence is not used Mala, Helen, Nargis and Fani: How are these repeatedly.” cyclones named - Financial Express, 04/05/2019 Mala, Helen, Nargis, and Nilofer may sound like the Big 4 audit firms barred from law practice names of yesteryear Bollywood actors, but they are, in fact, lethal cyclones that have brought violent Acting on charges of surrogate law practice, the Bar winds, heavy rains and wreaked destruction. As Council of Delhi has directed the Big Four global Officers’ Voice, June 2019 26 audit firms — KPMG, PwC, EY and Deloitte — to has been ineffective in being able to discharge this refrain from providing legal services with immediate solemn function,” he said. effect until further orders. The firms have also - The Hindu Business Line, 04/05/2019 been asked to furnish a list of all the advocates who have been engaged by them, in any capacity, in any RBI slaps Rs 6 crore penalty on m-pesa, PhonePe, of their offices at any place. These directions have 3 others been passed by the Delhi Bar Council following a The RBI has imposed penalty aggregating Rs. 6.10 complaint filed by Lalit Bhasin, President of the crore on five Prepaid Payment Instrument (PPI) Society of Indian Law Firms, a representative body issuers – My Mobile Payments, PhonePe, Y-Cash of over 100 law firms in the country. The matter Software Solutions, Vodafone m-pesa, and GI will be heard next by the Bar Council of Delhi on Technology – for non-compliance with regulatory July 12. The Bar Council’s move is a step in the guidelines. Among the five PPI issuers, the highest right direction, Bhasin told BusinessLine. penalty has been imposed on Vodafone m-pesa (Rs.3.05 crore). In the case of My Mobile Payments, Legal violation Phonepe and GI Technology, the RBI slapped In 2015, Bhasin had complained to the Bar Council a penalty of Rs.1 crore each. It has imposed a — the regulator for the legal profession — that the penalty of Rs.5 lakh on Y-Cash Software Solutions. Big Four firms were resorting to “unauthorised The RBI also imposed a penalty of Rs.29,66,959 practice of law” (providing legal services) in violation and Rs.10,11,653 on Western Union Financial of the Advocates Act. He had complained that these Services Inc, USA, and MoneyGram Payment firms were employing law graduates and providing Systems Inc, USA, for non-compliance of regulatory legal advice, besides drafting joint venture and guidelines. “These penalties have been imposed other agreements for clients, without registering in exercise of the powers vested in RBI under themselves with the Bar Council of India. Bhasin’s the provisions of Section 31 of the Payment and main contention was that the Big Four audit firms Settlement Systems Act 2007 for compounding of were also engaged in law practice, which is not the contraventions,” the RBI said. legally permissible in India. - The Hindu Business Line, 04/05/2019 There is no justification for accounting and audit firms to enter legal practice and offer non-litigation All bands standardised for 5G rollout in India services, it was submitted. Former CA Institute Much like the global practice, 5G technology has President Naveen ND Gupta had a different take on been standardised to work on all bands in India the issue and the Delhi Bar Council’s directions. which is on the verge of launching 5G services on “One needs to see whether the Bar Council has allocation of spectrum. For the country’s operators, the power to pass such directions to CA firms. I 5G services will bring in the much-needed revenue, feel this is an encroachment into ICAI’s (Institute while mobile broadband would be an important of Chartered Accountants of India) jurisdiction. application. “The technology is available as per The Big Four multinational accountancy firms’ 3GPP standards to roll out 5G across low, medium, existence is governed by ICAI regulations and and high bands, and the first operator will roll code...as such, why should a CA firm follow the Bar out on the mid-band (2.4 GHz-2.8 GHz) with the Council’s order? Such guidance should come from ecosystem being ready. However, operators would the ICAI Council,” Gupta told BusinessLine here on also be looking at the high band (28 GHz) and the Friday. low band for capacity expansion,” Thiaw Seng Ng, ICAI to blame? Head of Network Evolution, Ericsson South East Asia, Oceania and India, said. Aseem Chawla, Managing Partner at law firm ASC Legal, said the decision itself reflects the inability For bleeding telecom companies, 5G would help — and, somewhere, the lack of willingness — of the improve their average revenue per user (ARPU), a ICAI to regulate the activities of auditing MNCs. “It gauge of financial strength of a service provider. “In is time for the leadership of ICAI to realise that it India, mobile broadband would be an important

May your inner soul be the fountainhead of divine light. -Yajur Veda Officers’ Voice, JuneJune 20192019 27 application for 5G, which would also bring down the cost of data per GB,” Ludvig Landgren, Head legal decisions of Network Applications and Cloud Infrastructure, Ericsson South East Asia, Oceania and India, said. 2018-IV-LLJ-96 (SC) “As telecom networks evolve to 5G, operators are LNIND 2018 SC 331 looking to simplify operations and reduce time to IN THE SUPREME COURT OF INDIA market for new functionalities,” he added. Present Data traffic Hon’ble Mr Justice Madan B Lokur and According to a study by Ericsson, consumers are Hon’ble Mr Justice Deepak Gupta keenly waiting for 5G, and one in three smartphone C.A.Nos. 7423-7429 of 2018 1st August, 2018 users in India will change either immediately Narendra Kumar Tiwari & Ors. Etc. ....Appellants or within six months to a service provider that Versus switches on 5G. This underlines the need and want for faster, more capable telecom networks that can The State of Jharkhand & Ors. Etc. ....Respondents address the rapidly growing data traffic in India. Regularisation – Irregular Appointments – Separately, Vodafone Idea Ltd (VIL), country’s Regularisation – Appellants irregularly appointed largest telecom operator by subscribers, has employees of State Government and denied benefit selected Ericsson to deploy its Cloud Packet Core of regularisation – On petitions filed by Appellants, that will enhance its network. As part of this deal, Division bench of High Court denied regularisation, VIL will benefit from Ericsson’s network applications hence these appeals – Whether High Court justified and functions such as the virtual Evolved Packet in denying regularisation of Appellants – Held, State Gateway (vEPG), Service Aware Policy Controller continued with irregular appointments and same (vSAPC) and Virtualisation Infrastructure (NFVi) is indication that it believed that it was all right to solution enabling fast introduction of new services continue with irregular appointments and terminate and providing full service continuity. “Data whenever required, which is exploitation of employees consumption in India is growing rapidly and users – High Court as well as State ought to have considered are looking for new, richer experiences every day. entire issue in contextual perspective and not only At VIL, we endeavor to stay ahead of the curve by from point of view of interest of state, financial or investing in technologies and solutions to address interest of employees – Short circuit process of regular the evolving demands of millions of our customers appointments by appointments on irregular basis is in India,” Vishant Vora, Chief Technology Officer at hardly good governance. Regularisatoin Rules must VIL, said. be given pragmatic interpretation – if Appellants have completed alleged number of years of service, - The Hindu Business Line, 04/05/2019 they should be regularised unless there is some valid objection to their regularisation like misconduct – Impugned judgement and order passed by High Court set aside – Appeals disposed of.

Madan B. Lokur, J.

1. Leave granted.

2. These appeals arise out of the common judgment and order dated 17th November, 2016 passed by a Division Bench of the High Court of Jharkhand in a batch of writ petitions relating to the regularisation of daily wage or contract workers on different posts. The writ petitioners (now appellants) were denied the benefit of regularisation in view of the provisions of the Jharkhand Sarkar ke Adhinasth Aniyamit Rup se Niyukt Ewam Karyarat Karmiyo ki Officers’ Voice, June 2019 28

Sewa Niyamitikaran Niyamawali, 2015 (hereinafter Ors.2, we are of the view that the High Court has referred to as the Regularisation Rules). erred in taking an impractical view of the directions in Umadevi (3) as well as its consideration in Kesari. 3. The admitted position is that the appellants are irregularly appointed employees of the State 6. The decision in Umadevi (3) was intended to Government. They sought C.A. Nos.7423-7429 put a full stop to the somewhat pernicious practice of 2018 (@ S.L.P. (C) Nos. 19832-19838 of 2017) of irregularly or illegally appointing daily wage regularisation of their status on the ground that workers and continuing with them indefinitely. In they had put in more than 10 years of service fact, in paragraph 49 of the Report, it was pointed and were therefore entitled to be regularised. The out that the rule of law requires appointments to High Court took the view that the decision of the be made in a constitutional manner and the State Constitution Bench of this Court in Secretary, State cannot be permitted to perpetuate an irregularity of Karnataka and Ors. v. Umadevi (3) and Ors.1 in the matter of public employment which would did not permit their regularisation since they had adversely affect those who could be employed in not worked for 10 years on the cut-off date of 10th terms of the constitutional scheme. It is for this April, 2006 when the Constitution Bench rendered reason that the concept of a one-time measure its decision. According to the High Court, the and a cut-off date was introduced in the hope and Regularisation Rules provided a one-time measure expectation that the State would cease and desist of regularisation of the services of irregularly from making irregular or illegal appointments and appointed employees based on the cut-off date of instead make appointments on a regular basis. 10th April, 2006 in terms of the judgment of the 7. The concept of a one-time measure was further Constitution Bench. Therefore, since the appellants explained in Kesari in paragraphs 9, 10 and 11 of had not put in 10 years of service they could not be the Report which read as follows: 2 (2010) 9 SCC regularised. 247 C.A. Nos.7423-7429 of 2018 (@ S.L.P. (C) Nos. 4. The appellants had contended before the High 19832-19838 of 2017) Court that the State of Jharkhand was created “9. The term “one-time measure” has to be th only on 15 November, 2000 and therefore no understood in its proper perspective. This would one could have completed 10 years of service normally mean that after the decision in Umadevi with the State of Jharkhand on the cut-off date of (3), each department or each instrumentality 10th April, 2006. Therefore, no one could get the should undertake a one-time exercise and prepare benefit of the Regularisation Rules which made the a list of all casual, daily-wage or ad hoc employees entire legislative exercise totally meaningless. The who have been working for more than ten years appellants had pointed out in the High Court that without the intervention of courts and tribunals and th the State had issued Resolutions on 18 July, 2009 subject them to a process verification as to whether th and 19 July, 2009 permitting the regularisation of they are working against vacant posts and possess some employees of the State, who had obviously not the requisite qualification for the post and if so, put in 10 years of service with the State. 1(2006) 4 regularise their services. 10. At the end of six months SCC 1 C.A. Nos.7423-7429 of 2018 (@ S.L.P. (C) from the date of decision in Umadevi (3), cases Nos. 19832-19838 of 2017) Consequently, it was of several daily-wage/ad hoc/casual employees submitted that the appellants were discriminated were still pending before courts. Consequently, against for no fault of theirs and in an irrational several departments and instrumentalities did not manner. commence the one-time regularisation process. On 5. Having heard learned counsel for the parties and the other hand, some government departments or having considered the decision of the Constitution instrumentalities undertook the onetime exercise Bench in Umadevi (3) as well as the subsequent excluding several employees from consideration decision of this Court explaining Umadevi (3) in either on the ground that their cases were pending State of Karnataka and Ors. v. M.L. Kesari and in courts or due to sheer oversight. In such

A man lives by believing something; not by debating and arguing about many things. -Thomas Carlyle Officers’ Voice, June 2019 29 circumstances, the employees who were entitled to the above directions in Umadevi (3) as a one-time be considered in terms of para 53 of the decision in measure.” Umadevi (3), will not lose their right to be considered for regularisation, merely because the one-time 8. The purpose and intent of the decision in exercise was completed without considering their Umadevi (3) was therefore two-fold, namely, to cases, or because the six month period mentioned prevent irregular or illegal appointments in the in para 53 of Umadevi (3) has expired. The one- future and secondly, to confer a benefit on those time exercise should consider all daily-wage/ad who had been irregularly appointed in the past. The hoc/casual employees who had put in 10 years of fact that the State of Jharkhand continued with the continuous service as on 10-4-2006 without availing irregular appointments for almost a decade after the protection of any interim orders of courts or the decision in Umadevi (3) is a clear indication tribunals. If any employer had held the one-time that it believes that it was all right to continue with exercise in terms of para 53 of Umadevi (3), but did irregular appointments, and whenever required, not consider the cases of some employees who were terminate the services of the irregularly appointed entitled to the benefit of para 53 of Umadevi (3), the employees on the ground that they were irregularly employer concerned should consider their cases appointed. This is nothing but a form of exploitation also, as a continuation of the one-time exercise. The of the employees by not giving them the benefits of one-time exercise will be concluded only when all regularisation and by placing the sword of Damocles the employees who are entitled to be considered in over their head. This is precisely what Umadevi (3) terms of para 53 of Umadevi (3), are so considered. and Kesari sought to avoid. 11. The object behind the said direction in para 9. If a strict and literal interpretation, forgetting 53 of Umadevi (3) is twofold. First is to ensure the spirit of the decision of the Constitution Bench that those who have put in more than ten years in Umadevi (3), is to be taken into consideration of continuous service without the protection of any then no irregularly appointed employee of the State interim orders of courts or tribunals, before the of C.A. Nos.7423-7429 of 2018 (@ S.L.P. (C) Nos. date of decision in Umadevi (3) was rendered, are 19832-19838 of 2017) Jharkhand could ever be considered for regularisation in view of their long regularised since that State came into existence service. Second is to ensure that the departments/ only on 15th November, 2000 and the cut-off date instrumentalities do not perpetuate the practice was fixed as 10th April, 2006. In other words, in of employing persons on daily-wage/ad hoc/ this manner the pernicious practice of indefinitely casual basis for long periods and then periodically continuing irregularly appointed employees would regularise them on the ground that they have be perpetuated contrary to the intent of the served for more than ten years, thereby defeating Constitution Bench. the C.A. Nos.7423-7429 of 2018 (@ S.L.P. (C) Nos. 19832-19838 of 2017) constitutional or statutory 10. The High Court as well as the State of Jharkhand provisions relating to recruitment and appointment. ought to have considered the entire issue in a The true effect of the direction is that all persons contextual perspective and not only from the point who have worked for more than ten years as on 10- of view of the interest of the State, financial or 4-2006 [the date of decision in Umadevi (3)] without otherwise – the interest of the employees is also the protection of any interim order of any court or required to be kept in mind. What has eventually tribunal, in vacant posts, possessing the requisite been achieved by the State of Jharkhand is to short qualification, are entitled to be considered for circuit the process of regular appointments and regularisation. The fact that the employer has not instead make appointments on an irregular basis. undertaken such exercise of regularisation within This is hardly good governance. six months of the decision in Umadevi (3) or that 11. Under the circumstances, we are of the view such exercise was undertaken only in regard to a that the Regularisation Rules must be given a limited few, will not disentitle such employees, the pragmatic interpretation and the appellants, if they right to be considered for regularisation in terms of have completed 10 years of service on the date of

A man can die but once. -William Shakespeare Officers’ Voice, June 2019 30 promulgation of the Regularisation Rules, ought to on regularisation of the status of the appellants. be given the benefit of the service rendered by them. 13. The appeals are accordingly disposed of. If they have completed 10 years of service they should be regularised unless there is some valid 14. We may add that that it would be worthwhile objection to their regularisation like misconduct for the State of Jharkhand to henceforth consider etc. making regular appointments only and dropping the idea of making irregular appointments so as to 12. The impugned judgment and order passed short circuit the process of regular appointments. by the High Court is set aside in view of our conclusions. The State should take a decision Appeal disposed off. within C.A. Nos.7423-7429 of 2018 (@ S.L.P. (C) - Common Bond, April, 2019 Nos. 19832-19838 of 2017) four months from today

Excerpts of the interview of our MD & CEO by A J Vinayak published in The Hindu Business Line dated 14th March, 2019: Halla Bol, Corporation Bank’s peaceful way to recover bad loans, pays off: CEO

Now that you have taken over as MD and CEO We are keen to increase it to at least Rs. 15,000 of Corporation Bank, what are your plans for crore in 2019-20. Our aim is to grant housing the bank? loans within seven to 10 days to start with. Later on, we want to bring it down to five to seven days. Corporation Bank is one of the premier Public sector banks in the country. The bank has its What plans do you have for the MSME sector? own value and respect in the banking industry. How did the bank perform in extending Mudra Its creativity, pro-activeness, and adaptability to loans? various challenges over the years are unparalleled. The bank has taken up digitization of MSME The bank is considered a trendsetter, one that is loan-processing, form loan origination to loan highly innovative. As we have now come out of the disbursement, thereby reducing the turnaround RBI’s prompt corrective action (PCA), our plan is time to the minimum. to concentrate on the retail business portfolio by There are more than 100 designated relationship focusing on CASA (current account and savings officers in the specialized MSME branches who account) and retail term deposits on the liability focus on cluster-based lending. The bank has also side, and agriculture, MSME (micro, small and taken up onetime debt restructuring on a priority medium enterprise) and retail lending on the asset basis to facilitate stressed MSMEs to reorganize side. their businesses and project better growth. How do you rate the performance of the bank in Under Mudra Yojana, the bank disbursed the retail segment? What plans are in store to loans to 68,759 entrepreneurs in the current boost growth in this segment? fiscal, amounting to Rs 1.544 crore. Of these, 49,131 are new entrepreneurs and 19,628 are Delinquency under retail was higher during the women entrepreneurs. More than 17 per cent of last fiscal. The bank has taken necessary recovery entrepreneurs belong to the SC/ST category. steps and risk-mitigation measures to arrest the Agri lending of the bank stood at 17.06 per slippage, and the position is improving. cent during Q3 of 2018-19, against the target Since the bank had taken a cautious approach, the of 18 per cent. How do you plan to increase growth under retail segment was negative in the agri lending? first three quarters of the current financial year. The bank has been achieving the 18 per cent We are focusing on housing and personal vehicle regulatory target stipulated under agriculture. segments under retail to boost growth. Now, our It was only in the third quarter of the current housing loan portfolio is around Rs. 13,000 crore. financial

Difficulties are meant to rouse, not discourage.-William Ellery Channing Officers’ Voice, June 2019 31

year that we fell slightly below the regulatory retirements target. The bank is focusing on increasing disbursements in Q4 through its 1,300- rural The following members will be retiring from and semi-urban branches. We expect the bank to the services of the Bank on attaining the age of reach the target prescribed by the RBI. superannuation on 30.06.2019: What measures have been initiated to bring down the bank’s NPA percentage? 1. Mr. U Madhusudhan Rao, Deputy General Manager, The bank has taken a number of initiatives to Credit Division, Head Office contain slippages and to improve the recovery mechanism. The entire team of the bank was put Sri Rao joined the Bank as a on a mission mode. Clerk in May, 1979. He was The bank strengthened recovery by focusing on a promoted to Officers’ Cadre in number of areas, including swift and stern action JMG Scale I in August, 1984. under the provisions of SARFAESI Act, aggressively He was promoted as Manager in pursuing compromise/one-time settlement, MMG Scale II in July, 1996 and recovery through legal action, referring, maximum as Senior Manager in Scale III in October 2001. He number of accounts under National Lok Adalat/ was elevated as Chief Manager in SMG Scale IV in Lok Adalats, and resolution by referring to NCLT August, 2008 and as Assistant General Manager under IBC 2016, among others. in Scale V in December, 2011. He became Deputy In fact, the ‘Halla Bol’ recovery campaign, which General Manager in TEG Scale VI in August, 2015. was launched during 2016-17, has turned out to During 40 years of service, he worked at New Delhi be a success with the wholehearted involvement Regional Office, Connaught Circus, Bangalore of the rank and file. Malleswaram, Kanaswadi, Sholapur, Tumkur, Apart from this, the bank has separate verticals Vijayawada-Main, Head Office - Credit Division, for credit monitoring and recovery. In addition Bangalore - CBB, Mumbai - CBB, Vijayawada - to this, we have also created a separate Stressed CCPC, New Delhi - CBB, Bangalore - SME Loan Asset Management Vertical for the resolution of Centre and Zonal Office Patna. stressed assets. The capital infusion announced by the government has helped the bank bring 2. Mr. T V Lakshmi- down its net NPA ratio below 6 per cent. narasimhan, Chief Manager, Chennai - Mint Street (Zonal Please explain the ‘Halla Bol’ recovery Office Chennai) campaign. How much has been recovered till now, and what is the recovery target for the Sri Lakshminarasimhan joined coming quarters? the Bank in June, 1980 as The bank uses ‘Halla Bol’ as peaceful way to raise Typist Cum Clerk. He was its voice against NPAs. Under this, bank officials promoted to Officers’ Cadre go to borrowers whose accounts have become in JMG Scale I in December, NPAs, and discuss with them as to why they are 1996. He became Manager in not paying their dues. MMG Scale II in December, 2004. He was elevated The ‘Halla Bol’ initiative has given a lot of divided as Senior Manager in Scale III in March, 2010 and on the recovery front. The total recovery of the as Chief Manager in SMG Scale IV in June, 2014. bank was Rs. 1,590 crore in 2015-16. It increased During 39 years of service, he worked at Mumbai to Rs. 3,300 crore in 2016-17, and to Rs. 4,500 - Kalbadevi (CBB), Chembur, Chennai - Kelly’s crore in 2017-18. In 2018-19, we recovered more Corner, George Town, Mumbai - CBB, Chennai - than Rs. 4,000 crore till December 31. We expect Tambaram Santorium, Vengikkal, Anniyur, Mumbai cash recovery and upgradation to cross Rs. 5,000 - Goregaon (West), Chennai - Mandipakkam and crore in the current financial year. Mumbai - Worli.

In political discussion heat is in inverse proportion to knowledge. -J G C Minchin Officers’ Voice, June 2019 32

3. Mr. P Harish Oppanthaya, 5. Ms. Mukti, Assistant Manager, Inspection & Audit Manager, New Delhi - Dwaraka Division, Head Office, (Delhi South)

Sri Oppanthaya joined the Bank Ms. Mukti joined the Bank as a as a Clerk in August, 1980. He Clerk in June, 1981. She was was promoted to Officers’ Cadre promoted to Officers’ Cadre in in JMG Scale I in May, 1986. JMG Scale I in September, 2006. He became Manager in MMG During 38 years of service, Scale II in February, 2000 and she worked at Delhi - Chandni Senior Manager in SMG Scale Chowk, Bhikaji CAMA Place, Connaught Circus, III in December, 2007. Greater Kailash, Lodhi Complex and Dwarka. During 39 years of service, he worked at Haveri, HO - Staff Provident Fund Section, Mangalore 6. Mr. Ishwara Bhat, Senior - Pandeshwar, Bantwal, Mumbai Wadala, Manager, PAD (IR Wing & Disc. Hyderabad - Service, Hyderguda, HO - Premises Cell), Head Office Purchase & Maint. Division, Support Services & Br. Sri Bhat joined the Bank as a Expansion, Hunsaghatta, Head Office - Inspection & Clerk in December, 1981. He Audit Division, Mumbai - IAD Cell, Mumbai - Zonal was promoted to Officers’ Cadre Audi Office, Bangalore - Nrupathunga Road and in JMG Scale I in February, Tiptur. 1996. He became Manager in 4. Mr. D V Subramanya MMG Scale II in December, 2004 Varma, General Manager, and Senior Manager in Scale III in March, 2010. Circle Office - New Delhi During 38 years of service, he worked at Head (Delhi North) Office - Printing & Stationery Division, Puttur, Sri Varma joined Bank as Panemangalore, Mangalore - M. G. Road, Yagati, Agricultural Field Officer in Mumbai - A. R. Street, Sakleshpur, Mangalore JMG Scale I in October, 1980. - Kankanady, Puttur Darbe, Gondal, Camorlim, He was promoted as Manager Sullia and Mangalore - Bunder. in MMG Scale II in March, 7. Mr. T V Datta Murthy, 1993 and as Senior Manager Senior Manager, Chief in Scale III in June, 1997. He became Chief Manager Manager, Circle Audit Office - in SMG Scale IV in January, 2004 and was elevated Bangalore (Bangalore South) as Assistant General Manager in Scale V in June, 2008. He became Deputy General Manage in TEG Sri Murthy joined the Bank as a Scale VI in January, 2013 and General Manager in Clerk in February, 1982. He was Scale VII in September, 2015. promoted to Officers’ Cadre in JMG Scale I in December, 1996. During 39 years of service, he worked at He was promoted as Manager in Nizamabad, Nagaram, Patibandla, Vijayawada- MMG Scale II in December, 2004. He became Senior Main, Visakhapatnam, Hyderabad Siddiamber Manager in Scale III in March, 2010 and Chief Bazar, Vadodara (CBB), Ahmedabad M. J. Library, Manager in SMG Scale IV in September, 2014. Hyderabad - Hyderguda, Gurgaon, Visakhapatnam, Rajkot (CBB), Ahmedabad-Navarangapur, Pune - During 37 years of service, he worked at CBB, Zonal Office - Vijayawada, New Delhi - CBB Bhadravathi-B. H. Road, A P M C Yard Bhimaneri- and Head Office. Sagar, Araga, New Delhi-Laxminagar, Account

Our faith comes in moments; our vice is habitual. -Ralph Waldo Emerson Officers’ Voice, June 2019 33

Section, Head Office - CAPS Division, Chapora, 10. Ms. K Kusuma Bhat, Assistant Manager, Mukka, Mangalore - Staff Training College, Bangalore - Jayanagar (Bangalore South) Moodbidri, Faridabad, Delhi - Staff Training Centre, Ms. Bhat joined the Bank as a ARMB and Bangalore - MIEL. Clerk in July, 1983. She was 8. Mr. M Jayaprakash Rao, promoted to Officers’ Cadre Assistant Manager, Udupi - in JMG Scale I in September, Kuthpadi (Zonal Office Udupi) 2007.

Sri Rao joined the Bank in July, During 36 years of service, 1982 as Typist Cum Clerk. He she worked at Hubli - was promoted to Officers’ Cadre Coen Road, Bangalore - in JMG Scale I in September, Service, Bangalore - Mysore 2004. Main Road, Basavanagudi, Srinagar, Nelemangala and Bangalore - Uttarahalli. During 37 years of service, he worked at Sankeshwar, Kurkal, Bantwal, Shirva, Kalyan - Murbad Road 11. Mr. Madhusudan, Senior and Uliyargoli. Manager, Panjim Tonca (Goa Zone) Sri Rao was a member of the 18th Executive Committee for part period (June 2011-Jan Sri Madhusudan joined the 2013) and 19th Executive Committee (2013-16) Bank in August, 1983 Typist representing Udupi as its Zonal Secretary. Cum Clerk. He was promoted to Officers’ Cadre in JMG 9. Mr. Satjit Singh, Scale I in December, 1996. Assistant General Manager, He became Manager in MMG Circle Audit Office - New Scale II in October, 2006 and as Senior Manager in Delhi (Delhi North) Scale III in July, 2014. Sri Singh joined the bank During 36 years of service, he worked at Head as a Clerk in August, Office - Credit Division (Priority Sector), Bangalore - 1982. He was promoted to S. C. Road, M. G. Road, Gandhidham, Dodballapur, Officers’ Cadre in JMG Scale Kolar, Yeshwanthapura-Malur, Makanur, Zonal I in October, 1994. He was Office - Hubli, Hubli - Currency Chest, Service, promoted as Manager in MMG Scale II in March, Panjim - Service and Panjim. 2003. He became Senior Manager in Scale III in October, 2006. He was elevated as Chief Manager 12. Mr. Anil Kumar, Senior in IV in February, 2012 and Assistant General Manager New Delhi - Lodhi Manager in Scale V in December, 2015. Complex (Delhi South)

During 37 years of service, he worked at New Delhi Sri Anil joined the Bank as a Connaught Circus, Chandigarh, Amritsar, Clerk in October, 1983. He was promoted to Officers’ Cadre Ludhiana, Sikanderpur, Rajpura (Punjab State), in JMG Scale I in November, Bhadurgarh, Zonal Office Lucknow, New Delhi 1997. He became Manager in Vivek Nager, Noida Sector 31, Zonal Office Kolkata, MMG Scale I in October, 2006 Bangalore J. C. Road and Circle Audit Office and Senior Manager in Scale III in September, 2010. Bangalore. During 36 years of service, he worked at New Delhi

Life bereft of love is gloom Can sapless tree in desert bloom? -Thirukkural Officers’ Voice, June 2019 34

- Karol Bagh, Connaught Circus, Chandni Chowk, G. F. Robertsonpet, Kolar, Mysore - Vontikoppal, Alipur, Rajendra Place, Dehradun - Connaught Siddartha Layout and Srirangapatna. Place, Unjha, Meerut, Meerut-Saket, Zonal Office - 16. Mr. Kondalraj K Manager, Meerut and Zonal Office - Delhi South. Madurai - Puthuthoppu Road 13. Mr. Rupendra Singh (Tiruchirapalli Zone) Rathore, Manager, Noida Bhangel (Delhi North) Sri Kodalraj joined the Bank as an Officer in JMG Scale I in Sri Singh joined the Bank as a May, 1984. He was promoted Clerk in January, 1984. He was as Manager in MMG Scale II in promoted to Officers’ Cadre in November, 1997. JMG Scale I in November, 1997. During 35 years of service, he worked at Vellore, He was promoted as Manager in Mumbai - Khar, Kalbadevi (CBB), Chennai - MMG Scale II in October, 2006. Mint Street, Kelly’s Corner, Vengikkal, Chennai During 35 years of service, he worked at New - Nugambakkam, Dindigul, Chandigarh (PBB), Delhi - Connaught Circus, Chandni Chowk, Shivakasi and Madurai - SME. Noida, New Delhi - Vasundhara Enclave, 17. Mr. K V Basavarajappa, Karol Bagh, Amritsar, Zonal Office - Delhi North, Manager, Hassan - Salagame New Delhi - Najafgarh, Zonal Audit Office, Molem, Road (Mysore Zone) Samana, Delhi - Gujarnwala Town and Noida - Sri Basavarajappa joined the SME. Bank as a Clerk in July, 1984. He 14. Mr. Lambani Rama was promoted to Officers’ Cadre Naik, Assistant Manager, in JMG Scale I in November, Doopadahalli (Hubli Zone) 1998. He became Manager in MMG Scale II in August, 2012. Sri Naik Joined the Bank as a Clerk in March, 1984. He was During 35 years of service, he worked at promoted to Officers’ Cadre in Doddabelavangala, Shanivarasanthe, Somwarpet, JMG Scale I in October, 2005. Zonal Office - Ahmedabad, Kandali, Zonal Office - Mysore, Sakleshpur, Hassan and Haranahalli. During 35 years of service, he worked at Ranibennur, Haveri, Ananthapur, Yadwad, Kuppali, Harihara, 18. Mr. Renduchintala Raghava Hirebidari and Chitradurga. Sastry, Manager, Eluru (Vijayawada) 15. Ms. Saroja N Murthy, Sri Sastry joined the Bank in Manager, Mysore - Service August, 1984 as Clerk. He was (Mysore Zone) promoted to Officers’ Cadre in Ms. Saroja joined the Bank as JMG Scale I in November, 1997 a Clerk in April, 1984. She was and as Manager in MMG Scale II promoted to Officers’ Cadre in in December, 2004. JMG Scale I in November, 1997. During 35 years of service, he worked at She became Manager in MMG Rayadurg, Beluguppa, Bheemavaram, Rohtak, Scale II in March, 2010. Eluru, Kankatapalem, Surendranagar, Chennai – During 35 years of service, she worked at Ambattur, Palavakkam and Guntur – Arundalpet Kandali, Haranahalli, Hassan, Dodballapur, K. LIC.

Familiarity begets boldness. -Shackerley Marmion Officers’ Voice, June 2019 35

19. Mr. B Subramanian, Scale II in November, 1997 and as Senior Manager Senior Manager, Sivakasi in Scale III in June, 2004. He was elevated as Chief (Tiruchirapalli) Manager in SMG Scale IV in March, 2010 and as Assistant General Manager in Scale V in June, Sri Subramanian joined the 2014. He became Deputy General Manager in TEG Bank as a Clerk in October, Scale VI in August, 2018. 1984 and became Special Assistant in February, 2004. He During 34 years of service, he worked at , was promoted to Officers’ Cadre Raipur, Bhopal – Main, J P Nagar, Socorro, Pilerne, in JMG Scale I in September, Kanpur – Swaroop Nagar, Moradabad, Bareilly, 2006. He became Manager in MMG Scale II in Jabalpur, Nagpur, Indore, New Delhi – Paschim August, 2012 and Senior Manager in Scale III in Vihar, Coimbatore – Retail Loan Centre and Zonal May, 2017. Office – Lucknow.

During 35 years of service, he worked at New Delhi 22. Mr. Varkhandkar – Zonal Office, Connaught Circus, Katchaikatti, Rohidas Laxman, Assistant Palayamkottai, Tirunelveli, Siluvattur, Mumbai – Manager, Revora (Goa) Kandivili, Santacruz, Sankarapuram, Tenkasi and Sri Laxman joined the Bank Kabaliparai. in December, 1984 as a Typist 20. Mr. Ajay Mohan, Assistant Cum Clerk. He was promoted General Manager, Zonal Office to Officers’ Cadre in JMG - Rajkot Scale I in September, 2012.

Sri Mohan joined the Bank During 34 years of service, as an Officer in JMG Scale I he worked at Nagoa, Chapora, Ozorim, Ponda – in November, 1984 and was Ramnath Temple, Bastora and Bicholim. promoted as Manager in MMG 23. Mr. A P Jagadeesh Scale II in April, 1997. He Prasad, Assistant General became Senior Manager in Manager, Bangalore – Scale III in November, 2005. He Peenya (Bangalore – North) was elevated as Chief Manager in SMG Scale IV in November, 2010 and Assistant General Manager in Sri Prasad joined the Bank Scale V in October, 2017. as a Clerk in June, 1985. He was promoted as Officer During 34 years of service, he worked at Agra, in JMG Scale I in December, Lucknow, Sikanderpur, Bareilly, Lucknow- Aliganj, 1996 and as Manager in Bahadurgarh, Zonal Office – Mumbai, Greater MMG Scale II in December, Mumbai – ZO MRSU, Mumbai – Dombivili (West), 2004. He became Senior Manager in Scale III in Greater Noida, New Delhi – Vasundhara Enclave March, 2010. He was elevated as Chief Manager in and Circle Audit Office - Ahmedabad. SMG Scale IV in June, 2014 and Assistant General 21. Mr. Piyush Srivastava, Manager in Scale V in August, 2018. Deputy General Manager, During 34 years of service, he worked at HO – Circle Audit Office, Industrial Finance Section, Corporate Lending & Ahmedabad (Ahmedabad) Ind Rehabi, Dept., Mangalore-Bunder, Kanaswadi, Sri Srivastava joined the Bank Mysore-Main, Nagpur, Zonal Office-Delhi North, as an Officer in JMG Scale I Bangalore – Jayanagar, CBB, M G Road, Pune- in December, 1984. He was CCPC, Bangalore-SME Loan Centre and New Delhi- promoted as Manager in MMG CBB.

The only way to have a friend is to be one. -Ralph Waldo Emerson Officers’ Voice, June 2019 36

24. Mr. A V V B G Phani 27. Mr. Parachuri Venugopal, Kumar, Assistant General Assistant Manager, Pedaparimi Manager, Bangalore – Core (Vijayawada) Centre (Bangalore – South) Sri Venugopal joined the Bank Sri Kumar joined the Bank as as a Clerk in October, 1985. He an Officer in in JMG Scale I in was promoted to Officers’ Cadre May, 1985. He was promoted in JMG Scale I in September, as Manager in MMG Scale II 2012. in October, 1998. He became Senior Manager in Scale III in During 34 years of service, she December, 2004. He was elevated as Chief Manager worked at Guntur, Pedapulivarru, Vijayawada – in SMG Scale IV in March, 2010 and as Assistant Satyanarayanapuram and Guntur – Lakshmipuram. General Manager in Scale V in September, 2015. 28. Mr. M Satyendra Pai, During 34 years of service, he worked at Guntur, Assistant Manager, Mysore - Vadodra-CBB, Hyderabad – Regional Office, Currency Chest (Mysore) Ahmedabad – Regional Office, HO-ITD and Pune – Sri Pai joined the Bank as Peon Zonal Office. in June, 1980. He was promoted 25. Mr. Bhimappa Mareppa as Clerk in December, 1985 and Hosamani, Chief Manager, to Officers’ Cadre in JMG Scale I Belgaum – Tilakwadi (Belgaum) in April, 2011. Sri Hosamani joined the Bank During 39 years of service, he as an Officer in JMG Scale I in worked at Shimoga, Araga, Gadag, Yagati, Kuppali, August, 1985. He was promoted Haranahalli, Pandavapura, Malavalli and Karike. as Manager in MMG Scale II in 29. Mr. S Dhandapani, Deputy October, 1998. He was elevated General Manager, Zonal Office, as Senior Manager in Scale III Kochi in November, 2005 and as Chief Manager in SMG Scale IV in February, 2012. Sri Dhandapani joined the Bank During 36 years of service, he worked at as Agriculture Field Officer in Sankeshwar, Kadabi, Biligi, Bijapur, Ghaziabad, JMG Scale I in June, 1986. He Bangalore- CBB, Zonal Office, Jal Bhavan, Raichur, was promoted as Manager in New Delhi – Asaf Ali Road, Athani, Belgaum – Nehru MMG Scale II in June, 1997 Nagar, Bangalore – Cantonment and Zonal Office – and as Senior Manager in Hyderabad Scale III in December, 2004. He was elevated as Chief Manager in SMG Scale IV 26. Mr. B Chandrasekhara, in November, 2010 and as Assistant General Assistant Manager, Manager in Scale V in June, 2014. He became Srirangapatna (Mysore) Deputy General Manager in TEG Scale VI in Sri Chandrasekhara joined the September, 2016. Bank as a Clerk in October, During 33 years of service, he worked at 1985. He was promoted to Alapakkam, Mugasianumanpalli, Peruntholuvu, Officers’ Cadre in JMG Scale I in Pollachi, Anniyur, Dindigul, Coimbatore, Bodipatty, September, 2006. Kolkatta – Manikatalla, Coimbatore - Zonal Office, During 34 years of service, he worked at Shanthalli, Tiruchirapalli – Zonal Office, Namakkal, Zonal Somwarpet, Hassan, Kandali, Pune-Baner, Mysore- Office-Nellore and HO-Recovery Division. Main and T,Narsipura.

When people love each other, an important kind of giving is “giving in” -Leo Buscaglia Officers’ Voice, June 2019 37

30. Mr. Sivakumar R S Annangi, June 2000. He was promoted to Manager, Visakhapatnam – Officers’ Cadre in JMG Scale I in Seethammadhara (Vijayawada) September, 2007 and as Manager in MMG Scale II in June, 2018. Sri Sivakumar joined the Bank in July, 1986 as Clerk. He was During 19 years of service, he promoted to Officers’ Cadre in JMG worked at Nizamabad, Mahindra Scale I in September, 2007 and as City and Secunderabad – S P Manager in MMG Scale II in July, Road. 2014. B. VOLUNTARY RETIREMENTS During 33 years of service, he worked at The following member/s retired from the Bank Visakhapatnam, Dwarakanagar, Mini CAPS, voluntarily, under Regulation 29 of Pension Chennai – Kodambakkam, Kilpauk, Tuni, Regulations during April, 2019: Anakapalli and Madhurawada. 1. Ms. Parimala Sivakumar, 31. Mr. Kurapati Suryanarayan Assistant Manager, Mumbai - Murthy, Assistant Manager, P Chumbur Rayavaram (Vijayawada) Smt Sivakumar joined the Bank as Sri Murthy joined the Bank as a Clerk in July, 1981. She became Part-time Sweeper in October, Special Assistant on July, 2000 and 1983. He was promoted as Clerk was promoted to Officers’ Cadre in JMG Scale I in in September, 1997 and to Officers’ March, 2002. Cadre in JMG Scale I in September, 2014. During 38 years of service, she worked at Mumbai During 35 years of service, he worked at Nagaram, – Regional Office, Wadala, Vashi, Shivaji Park, Tuni, Artlakatta and Thimmapuram. Ghatkopar-West, Ghatkopar-East and A R Street.

32. Mr. Pala Rama Rao, Manager, Hyderabad – CBOO thanks all these members for their Service (Hyderabad) support and co-operation and wishes them a Sri Rao joined the Bank as Typist-cum-Clerk in happy, healthy and contented retired life.

Ramachandrappa the ‘Manual Man’ retires S Ramachandrappa, Assistant General Secretary and Senior Manager of our Bangalore – Kengeri Satellite Town Branch is retiring from the services of the Bank on 30th June. Familiarly and lovingly called as “Ramanna” (elder brother) he was brotherly to many in CBOO. Born on 19.05.1960 at Davanagere in Karnataka State to Late Sri Thimmappa and Late Smt. Venkatamma, life was a challenge for him - financially. He funded his education through actual “EARN WHIILE YOU LEARN” process by distribution of Newspapers, Vending Flowers and Embroidering Sarees. He completed his High School from Government High School, Davanagere and B. Com from SJVP College, Harihara. After joining the Bank, he completed CAIIB and continued his passion for learning by completing M. Com from Karnataka University and MBA in Banking and Finance from IGNOU through correspondence courses. Recently, he also acquired Advanced Diploma in MS-EXCEL Programme from Manipal University. Before joining Corporation Bank, he worked with the Controller of Defence Accounts and later joined for a few months. In Corporation Bank, his career commenced as a clerk at Haveri on 18.10.1983. In 1995, he was promoted as an Officer in JMG Scale-I. Later, as Manager in MMG Scale-II in May, 2002 and as Senior Manager in MMG Scale-III in Dec, 2007. Officers’ Voice, June 2019 38

He has worked at Haveri, Hubli – New Cotton Market, Patna, Head Office - Commercial Credit Division, Resource Mobilisation Division, Yadwad, Jamkhandi, Pune – Somwarpet, Bangalore – Yelahanka, Mangalore – Pandeshwar and Bangalore – J C Road. In the 14th All India Conference held at Mangalore in 1998, when CBOO took a decision to set up a Social Action Wing called ‘SWASTI”, sensing his leadership qualities, Sri S Ramachandrappa -the obvious choice – was co-opted as the first Secretary of SWASTI in January 1999 – thus began his journey in CBOO as a functionary. In the year 2000, he was transferred to Yadwad to undergo rural service and hence opted out of EC. However, his unflinching commitment made him Area Secretary in Belgaum Region and he continued his association with the members closely. Later, he was co-opted as Regional Secretary of Maharashtra Zone (now Pune) for a part of the period from June, 2005 to August, 2007 (the16th Executive Committee). Again, he was elected as Zonal Secretary of Pune Zone (the 17th Executive Committee). On transfer to Bangalore – Yelahanka in the year 2009, he was co-opted as Regional Secretary for the (then undivided) Bangalore Zone. In the 18th All India Conference held at Kochi in August, 2010, he was elected unanimously as Treasurer. Later, he was co-opted as Deputy General Secretary in the EC meeting held on 06.12.2011. In the 19th All India Conference held on 26.01.2013 at Chennai, he was unanimously elected as one of the four Joint General Secretaries, which post he held till January, 2016. In the 20th All India Conference held at Mangalore, he was unanimously elected as Deputy General Secretary (2016-19). Since the reminder of his service was a few months, he opted out of EC at the 21st All India Conference held at Mangalore on 27th and 28th January 2019. However, considering his long stint and rich experience in CBOO, in the 151st Executive Committee Meeting held on 29.01.2019, at Mangalore, he was co-opted as an Assistant General Secretary. CBOO has deputed him for training programmes/workshops on “Pension” and “Disciplinary Matters” organised by SBI Officers’ Association. He was also deputed for training on behalf of CBOO on “Improving Productivity and Efficiency of Labour” organised by National Productivity Council, Kanpur organised at Goa. Ramachandrappa has taken a lot of pains in updating the Manual on Officers’ Service Regulations, twice, i.e., in the year 1998 and in 2016 and has also brought out a small compendium on Pension Calculation. He was also a Trustee of the Pension Fund, representing CBOO. He has also handled a number of disciplinary cases as Assisting Officer with aplomb and to the satisfaction of the affected officers. His mastery over the Officers’ Service Conditions has endeared him to many including a few officials in top management. He could play a very good role as one of the members of the Grievances Redressal Committee (Officers). Sri Ramachandrappa is happily married to Smt. Jayalakshmi and is blessed with a daughter Mrs. Swati, a software Engineer, presently working as Senior Software Engineer with “MIND TREE”, Edinburgh, United Kingdom. She is happily married to Mr Tejesh, a tax consultant. His son Mr. Swaraj S R, a Mechanical Engineer, was employed in Pune initially. Presently, he is pursuing Post Graduate Diploma in Industrial Automation at Bangalore. “Ramachandrappa Sir”, for the youngsters, is a very simple and jovial person, bearing always a mischievous but affectionate smile. He is easily accessible to all the members. While fighting for the cause of any aggrieved member, Ramanna could be seen at his “Blasting Best”. His hobbies are Badminton (Shuttle), Cricket and Chess. He loves music and reading books. He can speak fluently in Kannada, Telugu, English and Hindi. He has been helpful to the Organisation with a good knowledge on Fitment of Scales from Clerical to Officers’ Cadre and on terminal benefits i.e., Pension, Gratuity and PF, etc. With his retirement, CBOO loses yet another articulate defence man. CBOO salutes its Loyal Soldier, the “Manual Man”, Mr. Ramanna and wishes him a happy, healthy, peaceful and contented retired life. He will be settling in Bangalore and will always be available to the members for help and guidance.

[Satish Shetty] General Secretary Officers’ Voice, June 2019 39

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Want to Feel Happy? Pick the Right Foods

Your choice of foods has an impact on your mood and thereby your productivity and health, writes. Saliha Nasline Food doesn’t just impact your body, but your mind STRIKING A BALANCE too. Making healthier choices in your diet will not A balanced diet consisting of whole foods - instead only help control your waistline and boosts your of refined foods, sweets and fried food - can provide energy, but will also help lift your mood and make all the nutritional requirements such as vitamins, you better focussed. proteins and minerals like selenium and zinc. “The kind of food we consume has a direct impact on Unsaturated Fatty Acids and Antioxidants can our body and mind,” said Anjali Kanojia, psychologist help maintain a good mood and prevent depressed at online healthcare company Lybrate. “Food can mood state. They can also help people suffering bring about changes in our brain structure and from depressive episodes along with medication in physiology and, in turn, our mood and behaviour. achieving symptom-free state, said Dr Venkatesh Foods rich in magnesium, zinc and amino acids Babu, Consultant Psychiatrist, Fortis Hospital, such as L-theanine reduce anxiety. Omega-3s alter Bengaluru. brain chemicals and neurotransmitters such as dopamine and serotonin (which make you feel good). STRESS AND FOOD When consumed in the correct manner, food can There is a connection between stress and food stimulate good mood and have a positive influence with short-term and long-term implications. In the on health.” short term, stress can suppress one’s appetite as a Alpa Momaya, senior nutritionist at digital fitness result of the corticotropin releasing hormone and platform Healthify Me, echoed this. epinephrine that trigger the fight response that “Brain chemicals called neuro-transmitters are puts eating on hold. responsible for good mood, happiness as well as In the long term, when individuals undergo a food cravings,” Momaya said. “The deficiency in consistently stressful time in their lives, it becomes these neurotransmitters can lead to conditions almost second nature for them to turn to food like depression, anger, anxiety, sleeplessness and for temporary comfort. “From the biological mood swings. The type of food we eat helps in the perspective the cortisol hormone, that is released production of these neurotransmitters.” when stressed, plays a role in increasing the urge Calorie-dense, sugary and starchy food also rich to eat,” Mpower’s Desai said. “Psychologically, food in trans fats that offer very little nutritional value has always played a role in instant gratification, interferes with the bodily functions and adversely which ends up becoming a cyclical process and a affects blood sugar levels as well. This then results in long-term pattern.” a sudden spike in blood sugar followed by an intense crash that causes anger, fatigue and irritability, said Episodes of stress can push us to reach for Dishaa Desai, psychologist and outreach Associate, unhealthy food. “There is evidence from research Mpower-The Centre, a mental health care provider. to show the increase in cravings for sugary or fatty Consistent cyclical moods of anger - highs and foods during periods of distress,” Desai added. lows - can result in creating an environment that This means that addressing stress is crucial for exacerbates the pre-existing symptoms of depression your health for more reasons than one. and anxiety or in forming an environment that serves as a trigger, she said. - The Economic Times, 14/05/2019

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