Pension in SBI–If figures could speak?


Be it payment of pension to retirees or salary to the employees in any undertaking, what matters more is its capacity to pay, and so applies to banking industry including State Bank of India, but the sorry state of affairs is that it is not done. The figures, as published in the annual report of State Bank itself for the current year and also those incorporated in the SBI Elders Voice in its November 2012 issue, as quoted below, abundantly speak for themselves:

  • The total business of public sector banks including State Bank of India increased by more than 250% from Rs.33,22,000 crores to Rs.84,87,000 crores.
  • The business and profit per employee has increased from Rs.594 lacs to Rs,1,151 lacs.
  • The number of employees has declined from 4,69,985 to 4,51,634. The percentage of wage cost has declined from from 14.66 to 13.72.
  • The number of branches, as per their branch expansion programme, has increased from 49,573 to 67,930 showing an increase of more than 37% with reduction in staff strength by 18,357. The over all net profit has increased from 19,680 crores to 47,483 crores, an increase by 141%.

Taken in their totality, if these figures so quoted above are any indication, which they are amply, it makes out a clear case to suitably enhance the wages and pension amount for the employees and the retirees from different banks. Bankers can have no excuse against paying both the salary and the pension in an adequate measure.

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16 thoughts on “Pension in SBI–If figures could speak?”

  1. You are so right. Unfortunately, in my experience. Bankers treat other people’s money and wealth; as their own. Like lawyers, a scourge of the earth. My sincere apologies to those undeserving of the epitaph.

    Funnily, when there is armed conflict they are the first in line to find reason not to go. Good luck with your quest!

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  2. Sir, The need is to negotiate it with management with full force and conviction. The data s in itself are sufficient to prove the case of payment of higher salary and pension as well.

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  3. The figures shown in blog indicate a very healthy rising trend in income of SBI .There no excuse as to why the salary and the pension should not increase. Of course the matter should be taken up strongly .

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  4. The figures shown in the blog indicate the increase in the business as wel as profit , I know one chairman Mr D.K.Basu of state bank of india who gave the sbi allowance of Rs750/ to 1000/ to its employees for the increae in bussiness per empolyee from t he profit , the employees earned. This is the time for State Bank of India to enhance the salary and pension of the employees specially the deprived class of pensioners from 1998 to 2002 (the 7thbipartite)
    Rajkumarnegi

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    1. Respected Negi ji.. The S.B.I. allowance as referred by you was extended by S.B.I. definitely the credit goes to Shri D. Basu as he was the chairman of S.B.I. at that time.. But the full truth is that this allowance was taken by S.B.I. staff federation by persistent follow up in the leadership of the charismatic leader so the entire credit should be given to the leadership not the chairman alone. It is the golden chapter of banking trade union movements and it will continue to inspire those who have militant instinct in real sense……..

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      1. sh dubeyji I donot agree with you , as this was the folowup of sbi staff federation , how it was given to the officers, when staff federation donot represent the officers. sir , I was present in that meeting in which sh basu the chairman declared this , the insentive to the sbi employees in lie of the increase of business, there was a central board meeting at chandigarh , and mr basu the chairman very happily announced this, and did it , after the achievement . We need such type of chairman in S.B.I. so the 7th bipartite pensioners issue could have solved. recently sh basu gave in thousands to the pensioners federation for the case in supreme court so the justice should be with them . you please compare the present chairman mr choudhary with mr basu, mr chaudhary is for seven days banking instead of six days,and no increase in salary as wel as pension, he should give double the salary and can implement seven days banking
        Raj Kumar Negi

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    2. Sir your disagreeing is honored. Officers are most important part of banking industry as they manage the things in a decent order. In my reply I intended to include officers federation too. As staff and officers federation are not rival groups. Regarding the attitude of the chairman we do not select him but we can create a healthy situation where no chairman can dare to act like Mr. Chaudhary. Ultimately this responsibility lies on our esteemed federations. So here the caliber and courage of leadership counts. Sir thanks for kind attention towards my reply.

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      1. Sh B N dubeyji thank you very much for the clarification, it was .a joint effort of officers ,award staff and management., the S.B.I/employees are better paid than other banks, but the 7th bipartite pensioners are less paid than other banks, Please do something for them also . thanks.

        RajkumarNegi

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