Let Bank Staff Suffer ---Every Branch Must Have ATM To Stop Strike Day Crisis

As per directive of Government of India and RBI, there should be one bank branch in every village of the country irrespective of the fact that it is economically not feasible and not viable. Every Branch Must Have ATM By the end of March 2014 is the instruction of Ministry of Finance and Government of India.

Bank may suffer loss or there may be no users for ATM or such reckless expansion of bank and that of ATM may prove costly affairs for bank and ultimately affect the profitability of these banks----Nothing to worry---There may be concerns for safety of these banks or ATMs –there may be concerns for life and safety of staff posted in such naxal affected areas or where life is critical—nothing to worry but to follow blindly what PC says.

This is the style of functioning of PSU banks. MOF wants indirectly to ensure that there is no discomfort to customers of banks in villages and especially on Strike Day. Let the bank staffs go to hell or let them work 12 hours a day and work on Sundays and Holidays sacrificing the interest of their families.

Chidmbram will do everything to spoil banks and to cause loss to bank , it may be by building pressure on achievement of Not achievable credit targets or for lending to bad corporate or by advising banks to write off loans of farmers and traders or by advising forced compromise with high value defaulters or by building pressure on CDR etc. 

Majority of banks are facing capital crisis to meet Basel III norms . They have been facing problems in recovery of huge accumulated NPA in their books .Profits of banks are facing erosion. But PC is least bothered of all these adverse situations, he simply wants every branch must have ATM  and every village must have a branch. 

But when bank talk of respectable wage hike , our learned and clever PC talk of profitability and pleads that entire profit of the bank cannot be spent on wage hike of bank staff.

PC may cause loss to investors and customers money by advising lesser provisioning towards bad debts and terminal benefits so that profit may be inflated and share value may be artificially boosted up to attract small investors . 

Due to wrong policies of PC and his predecessors, it is not only banks are in critical position but also bank staffs are suffering. Customers of the banks are suffering because Bank customers who are genuine and true businessmen are not getting loans from banks due to either liquidity crisis or high interest cost or rampant corruption or due to reducing confidence in economic growth.

Ultimately all investors in bank share are now weeping due to sharp fall in stock market specially in bank stocks.

PC will never come to rescue of share holders of banks when they are cheated by these banks by falsely showing rosy picture of banks.

All , bank staff, customers and investors are suffering but politicians like PC are celebrating Diwali every moment.

Every bank branch to have ATM by March this year: Namo Narayan Meena-Financial Express

Describing UPA-II government's focus on inclusive growth in the banking sector as a mission, Union Minister of State for Finance Namo Narayan Meena today said every old bank branch should have ATM facility by the end of current fiscal.

Every new bank was now providing ATM facility while opening its branches despite some problem in availability of these machines, Meena said after inaugurating the regional office of Dena Bank here.

Not only on site, but also off site the ATM should be opened at the busy places like colleges, universities, malls, and markets so that people can be connected with banking facilities, Meena said.

Comparing telephony density with banking, the Minister said: "While there are about 90 crore cellular phone users now, 50 per cent of people in the country do not have bank accounts. But ....payment of every penny from the government is being made through banks to beneficiaries".

Financial empowerment, infrastructure development and expansion of banking sector would enable control poverty and knit India, he said adding there were 8500 branches in 1969 when former Prime Minister Indira Gandhi had nationalised the banks.

The number of branches in the country has now gone up to one lakh, he said.

As per UPA-II plans, one out of nine Mahila Bank branches would be opened in Jaipur by March 31, 2014, and if the state government provides a building, Mahila Bank can be opened even in two days, Meena added.

UPA-II's policy is "Gaon ko joriye, gaon mein bank kholiye (knit village, open banks in village), he said.

Speaking on the occasion, Dena Bank CMD Ashwani Kumar said ten new branches would be opened in Rajasthan during 2013-14 and 15 in the next fiscal including 25 per cent in rural areas.

Dena Bank in Rajasthan made a business growth of 20 per cent so far with a business of Rs 2,400 crore in current financial year and aims to reach Rs 3,300 crore in next fiscal.

Kumar said he would hold meetings with management to raise this business to Rs 5,000 crore in the coming years in the state.

http://www.financialexpress.com/news/every-bank-branch-to-have-atm-by-march-this-year-namo-narayan-meena/1226428