Registered with RNI, Delhi Regn. No. KARENG/2005/14831 451 Vol 38 - 7 January, 2020 The year bygone that started with a strong hope of early in the industry had bottomed out. FY 2018-19 wage settlement in the backdrop of the stupendous ended with the Banking Industry posting lower net success of the two-day strike in December-2018 has losses at Rs. 81752 crore as against Rs. 85370 been very tumultuous for the Banking Industry. The crore, the previous year. year saw the merger of Vijaya Bank and Dena Bank As everything seemed to be falling in place, with Bank of Baroda [BoB] and unfolding of the saga Government of India started the “Ideation Program” of the system/employee/procedure integration at in the first week of August, 2019 to culminate BoB. in a grand review by the top echelons of all the The country, waited with bated breath to witness stakeholders with a grand intention of ensuring who will take the seat of power at the Centre. May, that banks lend more under flagship schemes of 2019, saw Sri Narendra Modi taking over for the the Government, aimed at a target group of the second term as the Executive Head of the country. society. Contrary to the expectations, on 30th New Government got down to the business with the August at about 04.30 pm, Finance Minister presentation of full-fledged budget and announcing announced the Big Bang merger of 10 Public huge capitalisation of PSBs, thus the hopes of the Sector Banks, into 4, leaving out another 6 in "Acche Din" for bankers resurrected. However, there uncertainty. The announcement by the FM on PSB was not much for the common man to cheer about. merger drew more criticism than accolades in the Parliament saw renewed activity with the passage print media. The economy which was tottering of a number of bills and disinvestment gaining under increased inflation received a severe blow momentum to fund the fiscal deficit. As it was not and slipped to its lowest in the last 5-6 years. Un- moving in the direction as was thought of, GoI badly relented and in order to put up a brave face, as an needed to fund the fiscal deficit and the reserves appeasement to the corporates, the Corporate Tax of Reserve Bank of India were transferred to the was cut, effectively lowering it to around 25% from Government, just to rid the suffocation and easing around 35%; foreign investor rules were relaxed the breath of the Treasury. and the Government has undertaken the biggest privatization drive in more than a decade. Banking Industry that was passing through toughest of times in the last couple of years was slowly seeing Some of the important bills passed in the year light at the end of tunnel and it was hoped that NPAs relate to The Muslim Women (Protection of Rights Edited and Published by Editor Members Asso. Editor Y. Sudhindra Y. Sudhindra K.B. Prasada Satish Shetty Devaraja B.P. on behalf of the Owners : Rachappaji J. Printed by: Corporation Bank Officers’ M. Rajesh Dange Founder Editor : Sri T.R. Bhat Organisation (Regd.) Codeword Process & Printers, Licensed to Post Under License 106, Lobo Prabhu Court, Falnir, Mangalore - 575 001 MNG/128/2015-17 & 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, January 2020 2 on Marriage) Bill, 2019, The Motor Vehicles going to cripple the already skewed job market, (Amendment) Bill,2019, The Right to Information whether these codes will generate employment (Amendment) Bill, 2019, The Occupational and ease doing business or not is a looming Safety, Health and Working Conditions Code, question. However, these codes are likely to 2019, The Codes on Wages, 2019, The Jammu change the employment profile that will ease and Kashmir Reorganisation Bill, 2019, The the hire and fire policy of the corporates, which Industrial Relations Code Bill, 2019, The will be draconian. While exhorting the officers Citizenship (Amendment) Bill, 2019, The Code on in the Bank to stand up against the ill-advised Social Security, 2019 apart from amendments to moves of the Government, we also need to stand Companies Act and Insolvency and Bankruptcy with those fighting for the cause of working Code etc. This apart, the Hon’ble Supreme class in protecting their rightful rights. It is most Court, in its landmark judgement, settling the unfortunate in the Indian system that the policy makers/rulers have no accountability for flawed decades old Ram Janma Bhoomi-Babri Masjid policies imposed during their regime. issue setting it to rest and leaving little scope any further, for future litigations. There are serious challenges to the banking sector unions in the year ahead. Unsettled Last couple weeks of the year 2019 saw an bipartite has withered the aspirations of million unprecedented rise in resentment by a section of strong bankers (considered as organised sector), the society against The Citizenship (Amendment) especially as the gains of December, 2018 Bill, 2019 (Now an Act) which till going to press Strike was frittered away due to stoic silence. is simmering at various parts of the country with Subsequently announced Strike was cleverly some witnessing bloody scenes and curfew being manoeuvred by the Government into deferment clamped at a few places. by the gullible unions (never to be re-strategised Important among all, relevant to the working for the entire year). Bankers feel let down from class, was the compression of 44 labour all sides. laws into four ‘codes’ — Wage Code, Social The merger which is nearing in an unimaginable Security Code, Industrial Relations Code and speed has disappointed almost all the target Occupational Safety, Health and Working bank unions, with the acquirer bank unions (and Conditions Code having large ramifications. In big brothers) hugging the dead silence. Absence the name of employment generation and ease of of unity of purpose, shackled with ‘supremacy doing business, the codes were mainly favouring ego’ among the various unions has helped the the entrepreneurs while visibly dis-favouring the Government (Owner) to bulldoze and deride the working class, at large. This is mainly an act to de- ‘million strong’ organised sector. Government’s unionise and cripple any collective fight against initiatives for Privatisation of major Public Sector the injustice meted out to the working class Undertakings has gone totally overlooked. while giving a whip in hand to the corporates to AIBOC must resurrect its fighting spirit – even exploit the working class further. However, many alone, if need be - and save the situation – now in various circles disagree that these proposed and immediately, or can never in the near future. four codes will draw investors. There are also 2020 will be a more turbulent year, if the many in the economic and financial parleys who developments in 2019 are any indication. Though vocally voiced their disenchantment. “There isn’t optimistic ray of hope is hoped for the betterment much scientific evidence to show that relaxation of the organised and unorganised sectors, the in labour laws will make much difference in working class – more importantly the baking terms of attracting foreign capital”, said K.R. sector unions - may have to struggle even just to Shyam Sundar, a Professor at the Xavier School retain their previously hard-earned trade union of Management in Jamshedpur. “It will rather rights which are under attack by the ‘Ease of lead to uncertainty.” doing Business’ devil and our own complacency. Unmindful to the fact that the PSB merger is OV Officers’ Voice, January 2020 3 GREETINGS Dawn of January, 1st will mark a new year ahead. We marched through 2019 – marking a new beginning with the passage of baton of leadership in CBOO at the triennial conference; change of guard at the Bank; infusion of capital by the Government of India; painful FY end with a loss of Rs 6333 crore; NDA coming back to power; turnaround in Q1 FY 2019-20, dooms day announcement of merger of 10 PSBs in to 4 and our Bank as one of the target banks to be merged with Union Bank of India; economic slowdown, landmark judgements with potential to change the face of the country; political turmoil in parts of the country due to CAA/NRC etc. 2020 marks significance for CBOO as it fights the merger menace and tries to retain the identity of our beloved Bank. It goes without saying that support from every corner in the Bank is expected in this endeavor. It is in this backdrop that we are moving into 2020 with huge expectations and hope to save the identity of our 113-year-old Bank. Let’s be determined in our fight to stall the ill-advised move of merger of Banks and save Public Sector Banks in general and our Bank in particular. It is the duty of every soldier of the Bank to fight for honour and perform well in the year ahead, bring laurels to the Bank and fame to CBOO. CBOO greets all its members for the success in their fight against merger, all Happiness and Prosperity in the New Year – 2020. [SATISH SHETTY] [Y SUDHINDRA] GENERAL SECRETARY PRESIDENT C O N T E N T S Page No. CBOO News ............................................................................................................................................. 4 Members Meet ......................................................................................................................................... 7 Swasti.....................................................................................................................................................