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.