On 2nd & 3rd January, 2015, Mananiya Pradhan Mantri ji, Honourable Prime Minister of India, Mr. Narendra Modi, under the aegis of Department of Financal Servces #DFS
Organized a 2 day weekend retreat for convergence of wisdom or "Gyan Sangam" on Financial Services in India at National Institute of Bank Management,
#NIBM , Kondhwe Khurd, Pune, Maharashtra
411048 +91-20-267-6000
The Honourable PM adressed the convergence conclave on the 3rd of January, 2015.
Important Note:
Since my School Days
A) I follow the Government of India POV.
B) I work for a PSU Bank for the last 30 years. Nearly (on 04-02-2015)
C)GoI hold 51% of the shares, hence they are the owners.
D) I'm an employee hence GoI is my bread giver & source of Income
E) But I and my family hold 10000 shares in #SyndBank or Syndicate Bank, my employers for the past 30 years, which also technically makes me owner.
F) My earnings, my house, education of my two children in Kendriya Vidyalaya at Jaipur, Mumbai & Kolkata are all because of my this bank job.
G) Above A-F not only makes me servile & subservient to GoI & Syndicate Bank, but also an important stake holder. 30 of my 55 years are spent, building this bank stronger brick by brick, to the best of my skill, knowledge & energy, much of it acquired after joining, the Bank. MBA, CFA, CAIIB. Plus on the job, infotech + advances, of which I had no knowledge.
So, the perrenial survival of MY BANK FOR 90 YEARS WAS POSSIBLE BECAUSE OF THE DEDICATION & DEVOTION TOWARDS THE COUNTRY & COUNTRYMEN BY OUR FOUNDING FATHERS Shri T M A Pai, Shri Upendra Pai & Shri Vaman Kudva & their successors , who all had one goal! Financial inclusion & priority sector banking plus the two maxims "Faithful & Friendly" & "No man is too small for the Bank"
In the above light, my letter to the PM is not opposition to the GoI thought, policies & goals, but I feel very strongly against The PM calling ours "Lazy Banking" where between 13-20-12-2014 I worked for 89/144 hours. To ensure PMJDY passbooks are delivered to branches on time. Also I strongly take objection for attributing purely financial profits as a parametre to judge organisations working in "Public Interest" on that account GoI runs at a loss of 5.7% p.a. Social Cost Benefit Analysis is the basis for organisation's working for social good. If we just cared for profits, we would NOT have achieved 20% of what we achieved and would have performed much like the new generation private sector banks!!!
Dear PM Sir, I respect you tremendously, I agree with your goals, financial literacy, financial inclusion, "house for all" "education for all" "Swachcha Bharat Abhiyan"
But by calling us "LAZY BANKERS" & JUDGING US PURELY ON PROFITS YOU MAKE ME WONDER DID I DO RIGHT BY STICKING TO MY JOB, NOT JOINING PRIVATE SECTOR, GOING ABROAD?
So here, I express my angst.
The views are personal. In no way, do my views, my personal views, hamper, my roles or duties. I'm committed to nation building till my last breath.
My POV as my stream of thoughts & wisdom, poured, straight from my heart, into the heavy "Gyan Sangam" ki Ganga.
#JaiHind
#JaiBharat
#JaiSynducate
NO NO NO!!!
WE ARE NO LAZY BANKERS.
DO NOT DE-MOTIVATE US PLEASE....
To me, survival of Syhdufaree Bank for 900 and more years is a dream.
On 20th October 2015 we celebrate our 90th foundation day.
#VenuG Presents: @fistpostin
In "South Masala VideoWith
Leading Actors in Stellar roles,
Shri Narendra Modi.
Shri Arun Jaitleyo.
Shri Hasmukh Adhia.
Smt Arundhati Bhattacharya.
Shri Raghuram Rajan.
We Bankers are
Soooooo Lazy
That we opened 100 million bank accounts under #PMJDY in 2 months.
Ujeless phellowj!
#DoubleSpeak
1. Calling for an end to "Lazy Banking" Prime Minister on Saturday, added that the government is against intervention in affairs of #Banks
2. Calling for the Banks to be among Top Banks in the world, he said, he was against Bank Mergers. RBI Governor reiterated, that there is need for more small special need banks like "payment banks"
3. He said that banks need to fight cyber crime & remove financial illiteracy, and be among the Top 10 Banks in the world.
4. Banks should take up one sector each year as #CSR & having 81% of Branches & 77%
Deposits must increase profits from current level of 45%.
5 Emphasising non-interference policy of Government in the affairs of the #Banks added that the Banks must finance 20-25000 Swachchta Entrepreneurs.
6. Calling for helping in the goal of 11 Crore dwelling units by 2022, to achieve the "houses for all" policies, said Gyan Sangam was an initiative towards "Team Spirit" .
7. He said that 7 Crore households benefited from the direct cash transfers of #LPG subsidies, in the first 3 days since its launch on 1st January, 2015.
8. Banks must give education loans to needy students, to channelise the youthful energies towards nation building .
9. He concluded by pleading to Banks to conduct competitions in Schools, to increase Financial Literacy in the country.
#VenuSpeak
#YesPrimeMinister to All the above except.
1. My study of social cost benefit analysis #SCBA pleads to you, to please add " #Social #Profits " to " #Financial #Profits " the net increase in #GDP ratio from current 4.8% to likely 7% if 110 million houses, being built, the concurrent increase in Steel, Cement, Labour sectors, increase in #Homeloans , Education of 20 million Indians, the foreign remittances from 2 million Indians from above 20 million add up to around 85% of the current profits of the entire #Banking #Sector
Add 45+85% = 130% of the Banking Sector Profits.
You either do #CSR & Social Banking for "Public Interest" for which, as a majority 51% shareholder & owners, I WELCOME "POLITICAL INTERVENTION" OF HIGHEST ORDER AS HAS BEEN HAPPENING OVER THE YEARS SINCE JUNE 1969, when the Banks were #Nationalised
Ours are the only organisation in #India, that is #Bharat
Who selflessly work to uplift our brother & sister country men & women. Either you look at profits or "Public Interest" .
2. Since the Post Liberalisation period of Indian Financial System on the recommendation of Narasimhan Committee I, several new , it enabled banks have been issued licences to open bank branches in India.
The 1st phase of PSU Banks between 1969-1980 14 + 6 of 1980 - 1 New Bank of India merged with PNB + SBI + 7 SBI Associates, - 1 State Bank of Saurashtra merged with SBI total of 26 Banks owned by Government of India #GoI
Have in your own words " 80% of branches , 71% deposits, 45% profits" whereas all the rest of Old Generation Private & Foreign Banks + New Generation Tech Savvy Branches have
JUST 20% OF BRANCHES & 29% DEPOSITS!!! THEY ISSUE FULL PAGE ADS ADVERTISE ON TELEVISION CHANNELS GIVE A SHARE OF REVENUE TO TPA'S ENGAGE CONTRACTUAL LABOUR
1969-2014 = 45 YEARS
1991-2014 = 23 YEARS
In the same time, Apple, Facebook, Amazon, Flipkart, Airtel, Vodafone, Infosys, Wipro, Hyundai, Samsung, Maruti, Hero Motorcorp, Grasim, Tech Mahindra, Reliance, Adani, Satyam, Ranbaxy, Lupin Labs, have beaten early birds of the likes of IBM, Microsoft, BSNL, Pfizer, Glaxo, Ford, Yahoo, AT&T, Siemens, Telefunken, Bajaj Scooters, TATA Motors, Mafatlal Industries, Calico, DuPont, Bombay Dyeing, Port Trust of India, Blackberry, Nokia, Shoppers Stop, Pantaloon, Akbarally's
MAY I ASK WHY AND HOW?
They pejetrated the rural & tier III IV & V , which THE NEW GEN PRIVATE SECTOR BANKS DID NOT!!! THEIR DIRECT PRIORITY SECTOR ADVANCES RATIO IS ATTROCIOUSLY LOW EXCEPT FOR HOUSING LOANS UPTO ₹ 25 lakhs, which IMHO is not to poor but middle class Sir. We #PSU #BANKS HAVE WITHSTOOD THE ADVENT OF TIME TECHNOLOGY TECHNIQUES TRADE & TROLLING 5 T's by the #media houses.
3. Please for heavens sake DO NOT MERGE US AND FORM NEW SMALL BANKS. Alternatively, immediately issue New Licence to #IndiaPost which #IMHO Better than engaging Business Correspondents by PSU Banks!!
In one go you will add 1 million bank #branches & also put a cat among pigeons making us #PSU #Bankers #alert like the new gen private banks did. We shall innovate, ignite, inspire, incarnate & incite 5 i's new ways to fight this new found competition. Trust me, with increased technology & digital reach, we will once again come out in flying colours, like we did, from 2000s onwards with #CBS & 20 other delivery channels.
4 Seriously, the GenX Bankers are in drove quitting #Banking towards greener pastures, unless the 10th Bipartite Wage Settlement is reached Asap to the liking of the #GenX staff. Trust me I quote "As we are connected to NPS , we have no affinity or attachment to any organisation , we shall quit, at the 1st better offer & Join anyone who pays & treats us better" Unlike us, the 80s generation, who have stuck for 30+ years, ignoring much better pay packages stuck on, to serve #AamAadmi they have no such umblical cords. The times have changed. Packages have superseded faithfulness & affinity or belongingness to the organisation. Get the #IBA to sign it at the earliest I say.
5 Lastly & More importantly, increase the retirement age to 62 for 3 years!!! NO!! I MYSELF WANT TO RETIRE ON 30-04-2020 even if retirement age is increased. I have shunned better offers, chances to work at Muscat, Dubai, Hong Kong, Singapore , US & Canada to serve my countrymen .
I want to retire to serve my wife of 28 years, who wants to pursue organic farming, and in my constant transfers, has been building & abandoning trees, plants & gardens in every 5 years.
I want this extension of 3 years so that the
SOLE KRA OF 60+ EMPLOYEES SHALL BE TO ACT AS MENTORS TO YOUNG PROTÉGÉ BANKERS TO TEACH THEM THE PRINCIPLES, LAW & PRACTISE OF #BANKING with the vast experience of 30+ years I myself have been doing the same since 4-2-1985 the day I joined #SyndicateBank
And shall continue to do the same, till my last breath selflessly, as, what I & my family are & have, is all due to my this Bank #job
PS: I quit the post of Inspector (Preventive) Customs & Central Excise to join #SyndcateBank
I'm sure, that is a sufficient proof, to my dedication & passion towards Banking.
I completed my CFA, MBA & CAIIB after joining the Bank. Have always sought transfers to new areas, Fx, Technology, New cities, new challenging assignments. So I was always am, and shall be open to new challenges.
Yours
Faithful & Friendly
Venu.
Kolkata
January 5, 2015
19:00-22:00 hours IST
Links
1 The article on @firstpostin which compelled me to write this open letter.
2 Serpents & Dead BSNL Phones at NIBM Pune, repaired for #GyanSangam
3 Agenda & Programme at Gyan Sangam or confluence of wisdom .At NIBM Campus,
2nd & 3rd January, 2015. A weekend retreat to freely ponder on financial services in India.
PIB release.
Organized a 2 day weekend retreat for convergence of wisdom or "Gyan Sangam" on Financial Services in India at National Institute of Bank Management,
#NIBM , Kondhwe Khurd, Pune, Maharashtra
411048 +91-20-267-6000
The Honourable PM adressed the convergence conclave on the 3rd of January, 2015.
Important Note:
Since my School Days
A) I follow the Government of India POV.
B) I work for a PSU Bank for the last 30 years. Nearly (on 04-02-2015)
C)GoI hold 51% of the shares, hence they are the owners.
D) I'm an employee hence GoI is my bread giver & source of Income
E) But I and my family hold 10000 shares in #SyndBank or Syndicate Bank, my employers for the past 30 years, which also technically makes me owner.
F) My earnings, my house, education of my two children in Kendriya Vidyalaya at Jaipur, Mumbai & Kolkata are all because of my this bank job.
G) Above A-F not only makes me servile & subservient to GoI & Syndicate Bank, but also an important stake holder. 30 of my 55 years are spent, building this bank stronger brick by brick, to the best of my skill, knowledge & energy, much of it acquired after joining, the Bank. MBA, CFA, CAIIB. Plus on the job, infotech + advances, of which I had no knowledge.
So, the perrenial survival of MY BANK FOR 90 YEARS WAS POSSIBLE BECAUSE OF THE DEDICATION & DEVOTION TOWARDS THE COUNTRY & COUNTRYMEN BY OUR FOUNDING FATHERS Shri T M A Pai, Shri Upendra Pai & Shri Vaman Kudva & their successors , who all had one goal! Financial inclusion & priority sector banking plus the two maxims "Faithful & Friendly" & "No man is too small for the Bank"
In the above light, my letter to the PM is not opposition to the GoI thought, policies & goals, but I feel very strongly against The PM calling ours "Lazy Banking" where between 13-20-12-2014 I worked for 89/144 hours. To ensure PMJDY passbooks are delivered to branches on time. Also I strongly take objection for attributing purely financial profits as a parametre to judge organisations working in "Public Interest" on that account GoI runs at a loss of 5.7% p.a. Social Cost Benefit Analysis is the basis for organisation's working for social good. If we just cared for profits, we would NOT have achieved 20% of what we achieved and would have performed much like the new generation private sector banks!!!
Dear PM Sir, I respect you tremendously, I agree with your goals, financial literacy, financial inclusion, "house for all" "education for all" "Swachcha Bharat Abhiyan"
But by calling us "LAZY BANKERS" & JUDGING US PURELY ON PROFITS YOU MAKE ME WONDER DID I DO RIGHT BY STICKING TO MY JOB, NOT JOINING PRIVATE SECTOR, GOING ABROAD?
So here, I express my angst.
The views are personal. In no way, do my views, my personal views, hamper, my roles or duties. I'm committed to nation building till my last breath.
My POV as my stream of thoughts & wisdom, poured, straight from my heart, into the heavy "Gyan Sangam" ki Ganga.
#JaiHind
#JaiBharat
#JaiSynducate
NO NO NO!!!
WE ARE NO LAZY BANKERS.
DO NOT DE-MOTIVATE US PLEASE....
To me, survival of Syhdufaree Bank for 900 and more years is a dream.
On 20th October 2015 we celebrate our 90th foundation day.
#VenuG Presents: @fistpostin
In "South Masala VideoWith
Leading Actors in Stellar roles,
Shri Narendra Modi.
Shri Arun Jaitleyo.
Shri Hasmukh Adhia.
Smt Arundhati Bhattacharya.
Shri Raghuram Rajan.
We Bankers are
Soooooo Lazy
That we opened 100 million bank accounts under #PMJDY in 2 months.
Ujeless phellowj!
#DoubleSpeak
1. Calling for an end to "Lazy Banking" Prime Minister on Saturday, added that the government is against intervention in affairs of #Banks
2. Calling for the Banks to be among Top Banks in the world, he said, he was against Bank Mergers. RBI Governor reiterated, that there is need for more small special need banks like "payment banks"
3. He said that banks need to fight cyber crime & remove financial illiteracy, and be among the Top 10 Banks in the world.
4. Banks should take up one sector each year as #CSR & having 81% of Branches & 77%
Deposits must increase profits from current level of 45%.
5 Emphasising non-interference policy of Government in the affairs of the #Banks added that the Banks must finance 20-25000 Swachchta Entrepreneurs.
6. Calling for helping in the goal of 11 Crore dwelling units by 2022, to achieve the "houses for all" policies, said Gyan Sangam was an initiative towards "Team Spirit" .
7. He said that 7 Crore households benefited from the direct cash transfers of #LPG subsidies, in the first 3 days since its launch on 1st January, 2015.
8. Banks must give education loans to needy students, to channelise the youthful energies towards nation building .
9. He concluded by pleading to Banks to conduct competitions in Schools, to increase Financial Literacy in the country.
#VenuSpeak
#YesPrimeMinister to All the above except.
1. My study of social cost benefit analysis #SCBA pleads to you, to please add " #Social #Profits " to " #Financial #Profits " the net increase in #GDP ratio from current 4.8% to likely 7% if 110 million houses, being built, the concurrent increase in Steel, Cement, Labour sectors, increase in #Homeloans , Education of 20 million Indians, the foreign remittances from 2 million Indians from above 20 million add up to around 85% of the current profits of the entire #Banking #Sector
Add 45+85% = 130% of the Banking Sector Profits.
You either do #CSR & Social Banking for "Public Interest" for which, as a majority 51% shareholder & owners, I WELCOME "POLITICAL INTERVENTION" OF HIGHEST ORDER AS HAS BEEN HAPPENING OVER THE YEARS SINCE JUNE 1969, when the Banks were #Nationalised
Ours are the only organisation in #India, that is #Bharat
Who selflessly work to uplift our brother & sister country men & women. Either you look at profits or "Public Interest" .
2. Since the Post Liberalisation period of Indian Financial System on the recommendation of Narasimhan Committee I, several new , it enabled banks have been issued licences to open bank branches in India.
The 1st phase of PSU Banks between 1969-1980 14 + 6 of 1980 - 1 New Bank of India merged with PNB + SBI + 7 SBI Associates, - 1 State Bank of Saurashtra merged with SBI total of 26 Banks owned by Government of India #GoI
Have in your own words " 80% of branches , 71% deposits, 45% profits" whereas all the rest of Old Generation Private & Foreign Banks + New Generation Tech Savvy Branches have
JUST 20% OF BRANCHES & 29% DEPOSITS!!! THEY ISSUE FULL PAGE ADS ADVERTISE ON TELEVISION CHANNELS GIVE A SHARE OF REVENUE TO TPA'S ENGAGE CONTRACTUAL LABOUR
1969-2014 = 45 YEARS
1991-2014 = 23 YEARS
In the same time, Apple, Facebook, Amazon, Flipkart, Airtel, Vodafone, Infosys, Wipro, Hyundai, Samsung, Maruti, Hero Motorcorp, Grasim, Tech Mahindra, Reliance, Adani, Satyam, Ranbaxy, Lupin Labs, have beaten early birds of the likes of IBM, Microsoft, BSNL, Pfizer, Glaxo, Ford, Yahoo, AT&T, Siemens, Telefunken, Bajaj Scooters, TATA Motors, Mafatlal Industries, Calico, DuPont, Bombay Dyeing, Port Trust of India, Blackberry, Nokia, Shoppers Stop, Pantaloon, Akbarally's
MAY I ASK WHY AND HOW?
They pejetrated the rural & tier III IV & V , which THE NEW GEN PRIVATE SECTOR BANKS DID NOT!!! THEIR DIRECT PRIORITY SECTOR ADVANCES RATIO IS ATTROCIOUSLY LOW EXCEPT FOR HOUSING LOANS UPTO ₹ 25 lakhs, which IMHO is not to poor but middle class Sir. We #PSU #BANKS HAVE WITHSTOOD THE ADVENT OF TIME TECHNOLOGY TECHNIQUES TRADE & TROLLING 5 T's by the #media houses.
3. Please for heavens sake DO NOT MERGE US AND FORM NEW SMALL BANKS. Alternatively, immediately issue New Licence to #IndiaPost which #IMHO Better than engaging Business Correspondents by PSU Banks!!
In one go you will add 1 million bank #branches & also put a cat among pigeons making us #PSU #Bankers #alert like the new gen private banks did. We shall innovate, ignite, inspire, incarnate & incite 5 i's new ways to fight this new found competition. Trust me, with increased technology & digital reach, we will once again come out in flying colours, like we did, from 2000s onwards with #CBS & 20 other delivery channels.
4 Seriously, the GenX Bankers are in drove quitting #Banking towards greener pastures, unless the 10th Bipartite Wage Settlement is reached Asap to the liking of the #GenX staff. Trust me I quote "As we are connected to NPS , we have no affinity or attachment to any organisation , we shall quit, at the 1st better offer & Join anyone who pays & treats us better" Unlike us, the 80s generation, who have stuck for 30+ years, ignoring much better pay packages stuck on, to serve #AamAadmi they have no such umblical cords. The times have changed. Packages have superseded faithfulness & affinity or belongingness to the organisation. Get the #IBA to sign it at the earliest I say.
5 Lastly & More importantly, increase the retirement age to 62 for 3 years!!! NO!! I MYSELF WANT TO RETIRE ON 30-04-2020 even if retirement age is increased. I have shunned better offers, chances to work at Muscat, Dubai, Hong Kong, Singapore , US & Canada to serve my countrymen .
I want to retire to serve my wife of 28 years, who wants to pursue organic farming, and in my constant transfers, has been building & abandoning trees, plants & gardens in every 5 years.
I want this extension of 3 years so that the
SOLE KRA OF 60+ EMPLOYEES SHALL BE TO ACT AS MENTORS TO YOUNG PROTÉGÉ BANKERS TO TEACH THEM THE PRINCIPLES, LAW & PRACTISE OF #BANKING with the vast experience of 30+ years I myself have been doing the same since 4-2-1985 the day I joined #SyndicateBank
And shall continue to do the same, till my last breath selflessly, as, what I & my family are & have, is all due to my this Bank #job
PS: I quit the post of Inspector (Preventive) Customs & Central Excise to join #SyndcateBank
I'm sure, that is a sufficient proof, to my dedication & passion towards Banking.
I completed my CFA, MBA & CAIIB after joining the Bank. Have always sought transfers to new areas, Fx, Technology, New cities, new challenging assignments. So I was always am, and shall be open to new challenges.
Yours
Faithful & Friendly
Venu.
Kolkata
January 5, 2015
19:00-22:00 hours IST
Links
1 The article on @firstpostin which compelled me to write this open letter.
2 Serpents & Dead BSNL Phones at NIBM Pune, repaired for #GyanSangam
3 Agenda & Programme at Gyan Sangam or confluence of wisdom .At NIBM Campus,
2nd & 3rd January, 2015. A weekend retreat to freely ponder on financial services in India.
PIB release.
