Supreme Court endorsed the views of Mumbai High Court and confirmed that campus hiring resorted by public sector banks is illegal , unethical and unconstitutional. See the news here in following link
Officers selected and appointed in banks through All India Competitive examination in scale I are considered inferior by corrupt team of top bankers who prefer campus hiring. These corrupt bankers go to a campus where a few of their known children are admitted and give them job in higher scale II or scale III. Corrupt officers do not hesitate even in paying double the salary because they have been free hand by RBI and Ministry of Finance in the name of reformation.
When these officers (recruited through campus ) join bank, they perform the same work which Probationary Officers recruited in Scale I through ALL India test use to perform. POs are doing the job at total average salary of say Rs.25000 which scale III officer drawing an average salary of Rs.50000 will do.
Further Scale I officers who have served the bank for a decade or two or even three are considered inferior in promotion process for promotion of scale III officer to scale IV officer whereas a campus recruited scale III officer is promoted to scale IV even after having banking exposure of two or three years. For promoting an officer from scale I to scale II banks required experience, rural posting, educational qualification, good marks in APAR, Group discussion , computer skill test, written test and finally good score in Interview and they want to select only one out of four candidate applied for promotion. But in case of campus hiring in scale I or in scale III they do not require any such pre-conditions. Corrupt top bankers who prefer campus hiring can judge the quality of fresher in IIM colleges in two minutes of their interview whereas same top bankers cannot judge the quality of existing and already serving officers in junior scales for two or three decades
Campus hiring is a tool in the hands of top ranked officers to earn money by bribe or to recruit their kith and kin in the name of talent. In my opinion, campus hiring by public sector banks is nothing but unconstitutional and illegal and gives scope for nepotism, bribery and flattery only. I therefore salute Judges of Mumbai High court who have treated such campus hiring as illegal and unconstitutional and I hope the lines of judgment will open the eyes of all regulators like RBI and Ministry of Finance if honesty is left to little extent.
Not only this ,such type of campus hiring is enough to produce discouragement and frustration among the existing workforce who have to work under a much junior officer and thus badly affects the work culture . This is direct loss to bank not only in money terms but also this damages the quality of assets.
Top ranked bankers who are still advocating campus hiring and who are advocating appeal in Supreme Court against high court order are real enemy of bank and they must be taken to task by government of India and RBI. It is these ill motivated greedy officers who have caused rise in bad assets through their complete negligence and lack of monitoring because they are always busy in earning bribe and cost gifts.
I would rather like to request Ministry of Finance to act fact and ensure all evil motivated recruitment made by these corrupt bankers in the past are cancelled and those who recruited officers through illegal means and wrong ways must be punished so that in future none of top bankers dare acting in whimsical manner.
They should keep in mind that three decades ago probationary officers recruited in banks used to treated at par with IAS and IPS officer and the quality of PO used to be the best and the performance of branches headed by these POs used to be the best .
Unfortunately the rampant corruption at top level has damaged the work culture completely. For this evil culture, GOI and MOF are also responsible who use to appoint Executive Director and Managing Director after taking lacs and crores of rupees as bribe through their juniors and various middlemen ( including corporate houses) working under them .
At least people will now believe after hearing the news of nephew of Railway Minister Sri Pawn Bansal who has been arrested by CBI on similar charges of bribing. This is not astonishing for me because in my opinion this has remained a regular phenomenon. And this is why none is interested to stop such unhealthy practices.
CBI should be asked to investigate how much money is paid by business schools , MBA collages, Technical course Colleges and top ranked graduation course colleges to top ranked bankers for calling them in their campuses for recruitment. Private IT sectors or other private companies are obliged in various manners for inviting them in their campuses for recruiting freshers in job in their companies by various colleges and institutes.
Will government allow such unethical practices to continue in government department and in public sector undertakings?
If yes, will ministers recruit their Chief Secretaries directly from campus at the cost of future of IAS officers serving at low level for decades?
Will government allow PSUs to recruit engineers and UPSC to recruit IAS officers from IIM and IITs in the same way banks are bent upon recruiting youth from IIMs and IITs despite adverse court order from Mumbai High Court and against the spirit of Constitution which advocates equal opportunities for all?
http://importantbankingnews.
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Above views have been expressed keeping in view following news published in Business Standard today 5th May 2013
PSU banks stop hiring from B-Schools after court order--Business Standard
Central Bank of India to appeal to SC against order
Public sector banks are now planning to appeal in the Supreme Court against the restriction imposed on hiring from business schools. A recent ruling by the Bombay High Court had said restrained campus recruitment for appointment of officers by Central Bank of India.
M V Tanksale, chairman and managing director, Central Bank of India said his bank will appeal in Supreme Court against the Bombay High Court ruling that restrained the bank from recruiting MBAs through selection at campus. He added that the bank is picking up management graduates from campuses for specialised jobs under autonomy granted by the government, which is their owner.
Another top executive with a large public sector bank said while the high court verdict may have been in case of specific bank, it is going to have implications for other public sector banks also. The official added that the issue will be taken up with the Indian Banks Association.
Management institutes are the most preferred destination to recruit talent for the special posts in banks. With good talent available aplenty, the banks do not need to scout for talent elsewhere. Hence, banks prefer to go for campus hiring and pick students, especially from finance and marketing/strategy backgrounds.
"Being listed entities there is expectation to work with private sector efficiency. Public sector entities tend to get the residual talent from management campuses, so for us it is quite a challenge to do a balancing act," a public sector bank official added.
While the court decision has been bank-specific, other banks have also followed the judgement. Shubhalakshmi Panse, Chairperson & Managing Director, Allahabad Bank said, "We were going to campuses till last year. But there has been some court case because of which we are now not allowed to hire from campuses. That is why we are recruiting through IBPS (Institute of Banking Personnel Selection)."
She added that till the final judgement comes, they will be recruiting through IBPS. IBPS is an organisation which helps client organisation recruit personnel for the various roles.
The Institute not only helps to identify talent to be sourced from the market through the recruitment process but also helps to identify employees within organizations with the necessary competencies to cope with roles and responsibilities.
Though management institutes have mostly completed final placement process, they are worried that this decision will affect their students in the coming period.
"Given the slump in the job market, public sector banks were offering good positions with decent packages for students. Now, it is going to be further challenging for students to find a secure job," said the placement head of a Mumbai-based business school.
Human resource consultants also explained that management students hopeful of getting placed with public sector banks would have to find other options. The senior official of a New Delhi based HR consultancy, who is involved in public sector recruitment said that government banks are preferred by students as they offer job security.
"While pay packages may not be very high, these candidates are comforted by the fact that these firms do not have a hire-and-fire policy. Especially when the job market is slow, these banks could have offered excellent career opportunities," the consultant said.
M V Tanksale, chairman and managing director, Central Bank of India said his bank will appeal in Supreme Court against the Bombay High Court ruling that restrained the bank from recruiting MBAs through selection at campus. He added that the bank is picking up management graduates from campuses for specialised jobs under autonomy granted by the government, which is their owner.
Another top executive with a large public sector bank said while the high court verdict may have been in case of specific bank, it is going to have implications for other public sector banks also. The official added that the issue will be taken up with the Indian Banks Association.
Management institutes are the most preferred destination to recruit talent for the special posts in banks. With good talent available aplenty, the banks do not need to scout for talent elsewhere. Hence, banks prefer to go for campus hiring and pick students, especially from finance and marketing/strategy backgrounds.
"Being listed entities there is expectation to work with private sector efficiency. Public sector entities tend to get the residual talent from management campuses, so for us it is quite a challenge to do a balancing act," a public sector bank official added.
While the court decision has been bank-specific, other banks have also followed the judgement. Shubhalakshmi Panse, Chairperson & Managing Director, Allahabad Bank said, "We were going to campuses till last year. But there has been some court case because of which we are now not allowed to hire from campuses. That is why we are recruiting through IBPS (Institute of Banking Personnel Selection)."
She added that till the final judgement comes, they will be recruiting through IBPS. IBPS is an organisation which helps client organisation recruit personnel for the various roles.
The Institute not only helps to identify talent to be sourced from the market through the recruitment process but also helps to identify employees within organizations with the necessary competencies to cope with roles and responsibilities.
Though management institutes have mostly completed final placement process, they are worried that this decision will affect their students in the coming period.
"Given the slump in the job market, public sector banks were offering good positions with decent packages for students. Now, it is going to be further challenging for students to find a secure job," said the placement head of a Mumbai-based business school.
Human resource consultants also explained that management students hopeful of getting placed with public sector banks would have to find other options. The senior official of a New Delhi based HR consultancy, who is involved in public sector recruitment said that government banks are preferred by students as they offer job security.
"While pay packages may not be very high, these candidates are comforted by the fact that these firms do not have a hire-and-fire policy. Especially when the job market is slow, these banks could have offered excellent career opportunities," the consultant said.
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