LETTER dtd 08 11 2019 TO PMO AND FM ON THE STATUS OF IBA
1 message
Srinivasa Murti Devulapalli <devulapallimurti@gmail.com>
9 November 2019 at 06:08
To All my friends on the mailing list.
VIJAYAWADA, AP, India
9 NOV 2019 —
LETTER dtd 08 11 2019 TO PMO AND FM ON THE STATUS OF IBA
My Dear Friends,
It’s my pleasure to share with you all, the following communication addressed to the Hon’ble Prime Minister & Finance Minister, Govt. of India, questioning the status of the IBA whose identity is of doubtful nature inasmuch as, it doesn’t come within the definitions of any of the laws of the land.
A clarification has already been given by the IBA itself in black and white besides reiterating the same through the public media , in this behalf recently.
Further, a legal notice dated 11th. October, 2019 was also served on the Ministry of Corporate Affairs, Govt. of India, New Delhi to initiate their corrective steps.
My hearty congratulations to our learned friend Com. Sidhu garu of OBC for his valiant efforts in this regard.
– click the following link for the details:
https://drive.google.com/file/d/1vrGoLnvBL4Q7Cpd52waiRkxNaLuklNcg/view?usp=sharing
In the above back drop I annex here the text of the communication dated 08 11 2019 addressed to PMO/FM by the Forum of Bank Pensioner Activists , contents of which are self-explicit.
With Greetings and Regards,
“|| यतो धर्मस्ततो जयः ||” IS THE ULTIMATE......
I remain – Yours,
దేవులపల్లి శ్రీనివాస మూర్తి
DEVULAPALLI SRINIVASA MURTI
devulapallimurti@gmail.com Ramavarappadu (PO)
VIJAYAWADA 521108
NOV. 09, 2019
0866-2953298 / 9989318300
==================================
QUOTE:
COPY OF LETTER DATED 08 11 2019 ADDRESSED TO HON’BLE PM & FM :
Sri Narendra Modi ji, Hon'ble Prime Minister, Govt.of India, New Delhi,
Sister Nirmala Sitharaman, Hon'ble Finance Minister, Govt.of India , New Delhi.
Respected Sir/ Sister,
भारतीय बैंक संघ की भूमिका से
बैंकिंग उद्योग में गहराता संकट !
इसे प्रतिबंधित किया जाये तथा
इसकी जगह कोई प्राधिकरण
बना समस्याओं का निराकरण हो!!
In our letter dated 2nd Nov.,2019, we have had dealt at length on subject cited above.
We do not know, as to what's the view that govt holds about Indian Banks' Association. According to IBA, as they have admittedly stated in their circular letter dated 30.9.2019, they have no legal/ constitutional status or authority to act on behalf of govt or Banks. For your ready reference, we quote below point 4 of IBA circular under reference:
"4. Hence, this circular to clarify IBA's status as follows:
● IBA is merely a voluntary association of banks and other financial services players.
● IBA is neither Government/ govt department nor a regulator and not even self-regulator/ self regulatory organization.
● IBA has no authority over Banks & other financial services players.
● IBA does not issue directive to Banks & financial services players, and
● IBA at a times, as directed by its members, merely facilitate matters of common purpose for its members and even then does not make any decision..."
2. Looking to facts & records, we find, govt has been assigning many tasks to IBA. PSBs have also been assigning entire HR related issues to IBA to discuss, negotiate and inter into agreement under ID Act/ MOU or advise. If they have no legal identity or status, how could they have been doing it all these years on behalf of govt or PSBs? They do not acclaim themselves as even Consultants. We do not know them registered under any Act of the land. They just say, they are 'voluntary association' of Banks and other financial services players.
IBA was established in 1946, when Banks were in private hands. It was their Club to take care of their business interests. According to IBA stand, it's same even today. How could it be? How such entity can deal with govt/ PSBs affairs without any legal status, authority and accountability?
Here, the government is required to take a call on IBA in the changed scenarios, which warrant a speaking and decisive Authority to act on behalf of government & PSBs. Apparent view is, IBA is more powerful than DFS, without any power, authority, accountability etc. IBA can ignore and set a side DFS directives/advices. It behaves like super-cop of Banking.
3. IBA collect fabulous amounts in crores as fees, subscriptions and donations from it's members every year. PSBs are major contributors and their executives preside over IBA, spend lavishly for cross purposes. Pertinent question is: whether PSBs can divert such huge amounts to a 'voluntary association' and facilitate it to finance cross purpose?
4. IBA apparently works on behalf of govt/ PSBs, obviously it's acts and behaviors have far teaching impacts & consequences in govt name. PSBs employees are under govt. Any behaviour with them tantamount to govt behavior. IBA offered 2% wage increase that spread anger against govt at first insurance. Now, it is 12%. What does it speak of, if not, the wreck less, irresponsible and provocative act of IBA? It provoked banking fraternity against govt. IBA has been behaving as street vendor, not an institution, dealing in Govt of India affairs.
5. Govt made very good feel image among bankers by giving instruction in Jan.2016 to start next wage settlement , some 22 months in advance, so as to clinch settlement before 1.11.2017. But, IBA destroyed govt good will and gesture, by maintaining stoic silence, sitting for long & did not wake up despite several reminders from DFS. It's shocking, how PS Banks/ IBA could dare to undermine govt directives!.
6. Looking to host of unbecoming acts and behaviour of IBA and mounting resentment, frustration, anger and anguish of entire banking fraternity, for govt immediate need is to take stock of IBA roles & functions, legal status and identity and find out solution to provide an Authority in place to deal with Banking issues with sense of responsibility and accountability. IBA had failed and it must be abandoned and it's assets taken over by govt, since created out of funding of Banks. It should not remain a mery making point for top Bank Executives. Banking need a competent Authority, which may take pragmatic decisions to resolve HR issues to restore the shaken confidence of banking fraternity in govt as ideal employer.
We, therefore, reiterate our request to stop IBA from dealing in any matter of bank employees/officers. Also, please ask Banks to stop funding and withdraw their executives from IBA. IBA may please be abandoned and in place an independent & autonomous Authority please be appointed comprising eminent bankers, economists, financial & business experts to guide & superwise policy matters and HR issues of Banking. It's due to enept handling of HR issues by IBA that countless court cases are pending in various courts and banks are wasting crores in this regard.
We hope, you consider it sympathetically and take a decision in the interest of Banking Industry. Creation of an Authority is only way to bring normalcy, stability and better productivity in Banking. It will revitalize, energize & motivate banking workforce.
Awaiting your kind consideration & decision.
Respectful Regards,
(J. N. Shukla)
National Convenor,
FORUM OF BANK PENSIONER ACTIVISTS
Prayagraj, Bharat
8.11.2019
UNQUOTE: