The health of the public sector banking industry is of prime concern

AURANGABAD: All India Bank Employees Association (AIBEA) general secretary C H Venkatachalam on Saturday came down heavily on the PJ Nayak Committee report, which suggested increase of private capital in public sector banks and said such move by the government will only destabilize country’s economy. The Union, breaking the banking secrecy law, also made public a list of about 400 debtors, who have over Rs 73, 000 crores of bad loans against them.

Reserve Bank of India had appointed a committee under PJ Nayak, the former chairman of Axis Bank, which submitted its report a few days ago, suggesting that the RBI privatize public sector banks (PSB), reduce government capital in PSBs, merge PSBs, transfer ownership of government banks to investment companies and the repeal of the bank nationalization act and the coverage of banks under the companies act, to name a few. The committee also said the government should not release any regulatory instructions to Banks.

Venkatchalam, who is in the city for a two-day national convention said, “The committee report is highly unfair, unwarranted, unjustified, rhetorical and pro-capitalist. It should be scrapped. The health of the public sector banking industry is of prime concern, as a major chunk of the profits is being utilized to write off bad loans running into lakhs of crores of rupees. Today, the total deposits in the banking sector amount to more than Rs 78 lakh crores, while the country’s per annum budget is Rs 12 lakh crores. This huge saving needs security, which is provided only by public sector banks and not by the private ones, as many of them have gone bankrupt globally.

He said, “Despite being an independent country for six decades, India is still a developing country, and there are many sectors that are still backward and need attention on a priority basis, including education, employment, women welfare, rural development, health, farming and infrastructure. Public sector banks, if they remain as they are, will be able to extend loan to these sectors, as the private banks are not obliged to extend loans to these sectors.

Vishwas Utagi, vice-president of the AIBEA pointed out that of over six lakh villages in the country, only 40,000 have bank branches, that, too, of public sector banks. He said that almost 5,50,000 of the six lakh villages in India did not have access to banking and could be reached only by public sector banks. Utagi also demanded that banking should be made fundamental right of every citizen.”

Devidas Tuljapurkar, the general secretary of the All-India Bank of Maharashtra Employees Federation, came down heavily on the alleged nexus between bank boards and top corporate houses, resulting in bad loans to the tune of lakhs of crores of rupees being written off easily. He also demanded a thorough inquiry in such hefty bad loans.

Jagdish Bhavtankar, another senior comrade and a member at the national body of the bank unions said, “The main challenge faced by the banks today is the increasing amount of bad loans. The bulk of these bad loans are due to corporate houses and industries. It is not wise to allow the same private banks to take over the public sector.

http://timesofindia.indiatimes.com/city/aurangabad/Bank-unions-demand-repeal-of-PJ-Nayak-committee-report/articleshow/35858817.cms

AIBEA strongly condemn the retrograde recommendations of the Nayak Committee and demand its outright rejection.

PRESS RELEASE 14-5-2014
BY C.H. VENKATACHALAM,
GENERAL SECRETARY,

ALL INDIA BANK EMPLOYEES ASSOCIATION

AIBEA CONDEMNS NAYAK COMMITTEE REPORT ON BANK PRIVATISATION – DEMANDS REJECTION OF REPORT

Our attention has been drawn to the report submitted by P J Nayak Committee recommending privatization of public sector banks by reducing the Government’s equity capital in the banks to less than 51%.

Ever since the major Banks in our country were nationalized in 1969, banking has been transformed from class banking to mass banking our country.

From mere 8239 branches in 1969, today there are more than 80,000 bank branches and nearly 36,000 of the branches being located in rural and semi-urban locations.

From mere Rs. 5000 crores of Deposits in 1969, today Banks have collected more than Rs. 78 lac crores from the people as Deposits.

Total advances of Rs. 3500 crores in 1969 has gone up to Rs. 50 lacs crores.

Banking services are today accessible to common people only because the banks are in public sector.

Sectors and areas like agriculture, rural development, employment generation, women empowerment, poverty alleviation, infrastructure development, etc. are given loan only because the Banks are in public Sector.

Many private sector banks in our country have collapsed in the past due to mismanagement and cheating the people.

Hence public sector banks should not be privatized. Rather they should be further strengthened and expanded.

Given the bad track record of the private banks in our country, AIBEA also demands that all private Banks should be nationalized and brought under public sector banking.

It is a sad commentary on the wisdom of this Committee that it has recommended banks to be handed over to private hands at a time when the bulk of the bad loans are attributable to the very same private sector.

More than 4 lac crores of bad loans are due from these big private corporate and business enterprises.

We strongly condemn the retrograde recommendations of the Nayak Committee and demand its outright rejection.

AIBEA will be organizing countrywide demonstrations, rallies and other protest programmes demanding the rejection of the report.

We shall also give a call for strike if the report is not rejected.

Banks deal with people’s money. People’s money should be available for people’s welfare and not for private loot through private control.

C.H.VENKATACHALAM
GENERAL SECRETARY

AIBEA releases list of bank loan defaulters

ALL INDIA BANK EMPLOYEES’ ASSOCIATION

COMBINED TOP 400 BAD LOAN ACCOUNTS

IN 24 PUBLIC SECTOR BANKS / 31-3-2013

BORROWER	BANK	GROSS NPA Rs.in crores
A 2 Z MAINTENANCE & ENGINE	STATE BANK OF PATIALA	151.52
	STATE BANK OF TRAVANCORE	14.31
		165.83
A G AEROVISION	PUNJAB AND SIND BANK	23.37
A L SUDARSHAN CONSTRUCTION CO LTD	SYNDICATE BANK	26.24
A P RAJIV SWAGRAHA CORPN.(P) LTD.	CENTRAL BANK OF INDIA	199.96
AAKRITI CONSTRUCTION	PUNJAB AND SIND BANK	22.00
ABHIJEET FERROTECH LTD.	UNITED BANK OF INDIA	76.12
	UNITED BANK OF INDIA	68.75
	CENTRAL BANK OF INDIA	101.66
	STATE BANK OF MYSORE	86.61
		333.14
ACCURA INFOTECH PVT LTD	BANK OF MAHARASHTRA	10.89
ACEAGRO INDUSTRIES PVT L	STATE BANK OF PATIALA	52.23
AGRO DUTCH INDUSTRIES LTD	STATE BANK OF PATIALA	49.35
	UNION BANK OF INDIA	61.70
		111.05
ALLIED PERFUMERS PVT LTD	STATE BANK OF TRAVANCORE	42.00
	BANK OF BARODA	61.12
	STATE BANK OF BIKANER & JAIPUR	20.02
		123.14
ALLIED STRIPS LTD.	ORIENTAL BANK OF COMMERCE	117.75
ALPHA REMEDIES LTD	BANK OF MAHARASHTRA	15.23
ALPINE MINMETALS INDUSTRIES	INDIAN OVERSEAS BANK	84.99
ALPS INDUSTRIES LIMITED	STATE BANK OF HYDERABAD	82.06
	STATE BANK OF PATIALA	121.66
	STATE BANK OF BIKANER & JAIPUR	40.14
	STATE BANK OF MYSORE	94.60
		338.46
ALTRIUM INFOCOM PVT. LTD.	VIJAYA BANK	28.61
AMAR REMEDIES LIMITED	BANK OF MAHARASHTRA	19.96
AMBIKA SOLVEX LIMITED	DENA BANK	32.87
AMIANTIT FIBRE GLASS INDUSTRIES I P	CORPORATION BANK	60.89
AML STEEL & POWER LIMITED	STATE BANK OF TRAVANCORE	13.89
AMR INDIA LTD. FORMERLY AMR CONSTRUCTION S LTD.	BANK OF MAHARASHTRA	57.11
AMTEK UNIVERSAL	BANK OF MAHARASHTRA	11.98
ANDHRA PRADESH RAJIV SAGRUHA	STATE BANK OF HYDERABAD	185.07
	UNION BANK OF INDIA	200.66
		385.73
ANJNEY LOYS PVT.LTD	PUNJAB AND SIND BANK	16.08
ANKUR DRUGS AND PHARMA	PUNJAB AND SIND BANK	20.25
	STATE BANK OF PATIALA	49.98
	CORPORATION BANK	70.40
	CENTRAL BANK OF INDIA	146.22
		286.85
ANZ INTERNATIONAL MANUFACTURING P LTD	CANARA BANK	56.41
ARAMBAGH HATCHARIES LTD.	UCO BANK	61.41
ARCH PHARMALABS LIMITED	STATE BANK OF MYSORE	96.30
	UNITED BANK OF INDIA	54.25
		150.55
ARCOY BIOREFINERY PVT. LTD	STATE BANK OF BIKANER & JAIPUR	22.92
ARSHIYA INDUSTRIES & DISTRIBUTION	BANK OF BARODA	71.83
ARSHIYA RAIL INFRSTRUCTURE	SYNDICATE BANK	26.82
ARUPPUKOTTAI SRI JAYAVILAS LTD.	INDIAN BANK	31.26
ASHAPURA MINECHEM PVT. LTD.	BANK OF INDIA	145.00
ASHIANA INN LTD	PUNJAB AND SIND BANK	24.71
ASSAM CO. INDIA LTD.	STATE BANK OF BIKANER & JAIPUR	142.27
ASSOCIATED PIGMENTS	ALLAHABAD BANK	55.49
ATHENA FINANCIAL SERVICES LTD . .	BANK OF MAHARASHTRA	11.86
B & C MACHINERY LIMITED	STATE BANK OF TRAVANCORE	19.61
BALAJI COKE INDUSTRY P LTD	DENA BANK	22.89
BANIAN & BERRY ALL PVT LTD	DENA BANK	28.04
BARNA PARICHAY BOOK MALL PVT. LTD.	STATE BANK OF BIKANER & JAIPUR	12.93
	STATE BANK OF TRAVANCORE	10.78
		23.71
BARTRONICS INDIA LIMITED	ANDHRA BANK	107.51
BASAI STEELS & POWER P LTD	SYNDICATE BANK	27.71
	PUNJAB NATIONAL BANK	109.76
		137.47
BBF INDUSTRIES LIMITED	PUNJAB NATIONAL BANK	105.38
BENGAL INDIA GLOBAL INFRA	ALLAHABAD BANK	48.03
BENGAL INDIA GLOBAL INFRA LTD.	BANK OF INDIA	81.00
	ANDHRA BANK	51.61
	CORPORATION BANK	60.00
	UNITED BANK OF INDIA	48.84
	CENTRAL BANK OF INDIA	139.06
		380.51
BEST & CROMPTON ENGINEERING PROJECTS LTD.	CENTRAL BANK OF INDIA	121.10
	ANDHRA BANK	41.41
	CORPORATION BANK	100.50
		263.01
BHARATI SHIPYARD LIMITED BHARTI SHIPYARD	UNITED BANK OF INDIA	180.00
	UCO BANK	115.62
		295.62
BHASIN MOTORS	PUNJAB AND SIND BANK	23.78
BILCARE LIMITED	ANDHRA BANK	55.67
	CORPORATION BANK	50.00
	STATE BANK OF BIKANER & JAIPUR	46.88
	STATE BANK OF HYDERABAD	50.00
	UNITED BANK OF INDIA	49.85
		252.44
BILTUBE INDUSTRIES LIMITED	INDIAN BANK	29.07
BIOTOR INDUSTRIES LTD.	ALLAHABAD BANK	50.00
BIRLA SURYA LIMITED	DENA BANK	43.19
	STATE BANK OF PATIALA	31.18
	UNITED BANK OF INDIA	65.27
	UCO BANK	67.56
		207.20
BJN HOTELS LTD.	BANK OF INDIA	80.00
BLUE HORIZON HOTELS PRIVATE LIMITED .	STATE BANK OF MYSORE	92.00
	BANK OF INDIA	85.00
		177.00
BRITISH OIL & GAS EXPLORATION LTD/ STERLING SEZ&INFRA	UNION BANK OF INDIA	185.20
CASTOR SEEDS FARMERS RECEIVABLES	ORIENTAL BANK OF COMMERCE	99.81
CENTURY COMMUNICATION	INDIAN OVERSEAS BANK	152.88
	ORIENTAL BANK OF COMMERCE	96.21
	CANARA BANK	62.47
	BANK OF BARODA	88.30
	UNION BANK OF INDIA	197.98
	VIJAYA BANK	26.69
		624.53
CETHAR VESSELS LIMITED	INDIAN BANK	125.40
CHANDRA PROTECO LTD.	ALLAHABAD BANK	97.39
CHENNAI ELEVATED TOLLWAY LTD	UNITED BANK OF INDIA	46.67
CHINCHOLI SUGAR AND BIO INDUSTRIES	STATE BANK OF TRAVANCORE	20.00
COMET COMMODITY EXPORTS LTD	CANARA BANK	53.50
CONROS STEELS PVT LTD	DENA BANK	24.52
CORPORATE ISPAT ALLOY LIMITED CORPORATE POWER LTD/CORPORATE ISPAT ALLOYS LTD	STATE BANK OF HYDERABAD	50.52
	PUNJAB AND SIND BANK	28.48
	CENTRAL BANK OF INDIA	143.08
	INDIAN BANK	50.00
	PUNJAB NATIONAL BANK	197.37
	STATE BANK OF HYDERABAD	181.33
	STATE BANK OF PATIALA	162.67
	STATE BANK OF TRAVANCORE	58.61
	STATE BANK OF BIKANER & JAIPUR	63.65
	UNION BANK OF INDIA	424.09
		1359.80
CRANES SOFTWARE INT’L LTD.	BANK OF INDIA	163.00
DATA ACCESS(INDIA)LTD	CANARA BANK	59.67
DECCAN CARGO &EXPRESS LOGISTICS P LTD	SYNDICATE BANK	109.76
DECCAN CHRONICLE HOLDINGS	ANDHRA BANK	220.54
	CANARA BANK	329.48
	CORPORATION BANK	100.00
	STATE BANK OF HYDERABAD	50.00
		700.02
DEEN DAYAL MEDICAL AND EDUCATION	ANDHRA BANK	69.21
DELHI AIRPORT MET EX LTD	DENA BANK	198.30
	PUNJAB AND SIND BANK	148.08
		346.38
DEWA PROJECTS LTD	UNION BANK OF INDIA	52.68
DRAVYA INDUSTRIAL CHEMICALS LTD	CANARA BANK	77.05
DSC LIMITED	ORIENTAL BANK OF COMMERCE	221.90
DSC LTD	STATE BANK OF PATIALA	37.17
DURAIRAJ MILLS LIMITED	INDIAN BANK	26.12
ECI ENGINEERING & CONSTRUCTION CO. LTD.	UNITED BANK OF INDIA	39.58
EDU SMART SERVICES P LTD	UNION BANK OF INDIA	100.00
EDUCOMP INFRASTRUCTURE &	STATE BANK OF PATIALA	202.36
	CORPORATION BANK	41.25
		243.61
EDUCOMP SOLUTIONS LTD.	STATE BANK OF BIKANER & JAIPUR	39.53
	STATE BANK OF PATIALA	194.48
		234.01
ELDER PHARMACEUTICAL LIMITED	STATE BANK OF TRAVANCORE	20.00
ELECTROSTEEL INTEGRATED LIMITED	UNITED BANK OF INDIA	183.48
ELECTROSTEEL INTEGRATED LIMITED	UNITED BANK OF INDIA	35.00
ELECTROTHERM (INDIA)	CENTRAL BANK OF INDIA	385.26
	ALLAHABAD BANK	279.73
	CORPORATION BANK	117.15
	DENA BANK	51.44
	VIJAYA BANK	79.63
	INDIAN OVERSEAS BANK	200.01
	CANARA BANK	190.18
	PUNJAB NATIONAL BANK	190.97
	STATE BANK OF TRAVANCORE	85.05
	BANK OF INDIA	632.00
		2211.42
ENTEGRA	CENTRAL BANK OF INDIA	274.50
ENTERTAINMENT WORLD DEVELOPERS LTD	ALLAHABAD BANK	126.01
ERA INFRA ENGINEERING LIMITED	STATE BANK OF HYDERABAD	76.76
EUROPEAN PROJECTS AND AVIATION	ANDHRA BANK	100.53
	DENA BANK	100.09
	CORPORATION BANK	150.80
	BANK OF INDIA	159.00
		510.42
EVERWIN TEXTILE MILL PVT. LIMITED	STATE BANK OF MYSORE	23.48
EXIM RAJATHI (I) PVT LTD	PUNJAB NATIONAL BANK	124.91
FAIRDEAL SUPPLIERS(P) LTD	PUNJAB AND SIND BANK	40.49
FAIRDEAL SUPPLY	UCO BANK	231.87
FALCON TYRES LTD.	CENTRAL BANK OF INDIA	132.89
FALGUN EXPORT P LTD	PUNJAB AND SIND BANK	15.14
FARMERS SUPPLYING CASTOR SEEDS TO B	CORPORATION BANK	50.00
FOREVER PREC. JEWE LTD	PUNJAB NATIONAL BANK	758.17
FRONTLINE CORP LTD	PUNJAB AND SIND BANK	33.20
G P T STEEL INDUSTRIES	SYNDICATE BANK	56.33
G.S. OIL LTD.	STATE BANK OF HYDERABAD	221.44
GALADA POWER & TELECOMMUNICATION LTD	SYNDICATE BANK	26.43
GANGOTRI ENTERPRISES LIMITED	CORPORATION BANK	55.87
GANGOTRI TEXTILES LTD	STATE BANK OF TRAVANCORE	13.69
GEM STAR	DENA BANK	70.83
GEMINI COMMUNICATION LTD.	BANK OF INDIA	82.00
GLODYNE TECHNOSERVE LTD	CORPORATION BANK	47.27
GOOD EARTH MARITIME LIMITED	INDIAN BANK	64.11
	UNITED BANK OF INDIA	42.38
		106.49
GOOD HEALTH AGRO TECH. PVT. LTD.	STATE BANK OF MYSORE	72.32
GPT STEEL INDUSTRIES LTD	UNION BANK OF INDIA	78.04
GREAT OFFSHORE LTD.	BANK OF BARODA	76.86
GREEN VALLEY PLYWOOD	INDIAN OVERSEAS BANK	104.03
GREENEARTH RESOURCES & PROJECTS LTD.	BANK OF INDIA	89.00
GTL LIMITED	INDIAN BANK	97.17
	BANK OF BARODA	110.30
		207.47
GULBARGA AIRPORT DEV P LTD	DENA BANK	26.73
GWALIOR JHANSI EXP WAY LTD	PUNJAB NATIONAL BANK	104.68
	STATE BANK OF PATIALA	37.66
	PUNJAB AND SIND BANK	40.13
	UCO BANK	68.78
	CANARA BANK	50.44
	VIJAYA BANK	44.61
		346.30
H.R.M EXPORTS PVT. LTD	DENA BANK	28.00
HANJER BIOTECH ENERGIES PVT. LTD.	ALLAHABAD BANK	58.23
HANUNG TOYS AND TEXTILES LTD	BANK OF MAHARASHTRA	30.52
HARISH CHANDRA INDIA LTD	CORPORATION BANK	154.14
	UNION BANK OF INDIA	69.49
		223.63
HDIL	PUNJAB AND SIND BANK	94.18
HELIOS COMMODITIES	ALLAHABAD BANK	103.15
HILLS CEMENT COMPANY LIMITED	INDIAN BANK	22.17
HIND BUILDTEC PRIVATE LIMITED	UNITED BANK OF INDIA	42.40
HOUSING DEV. & INFRA LTD.	UCO BANK	71.29
	PUNJAB NATIONAL BANK	114.71
	CENTRAL BANK OF INDIA	160.83
	ALLAHABAD BANK	179.55
		526.38
HYDROAIR TECTONICS (PCD) LTD.	VIJAYA BANK	101.09
ICSA INDIA LIMITED	UNION BANK OF INDIA	68.43
	ORIENTAL BANK OF COMMERCE	114.38
	PUNJAB NATIONAL BANK	133.80
	ANDHRA BANK	229.01
	BANK OF INDIA	101.00
		646.62
IG3 INFRA LTD	UCO BANK	121.33
IND POWER LTD.	INDIAN OVERSEAS BANK	32.32
IND SYNERGY LIMITED	BANK OF MAHARASHTRA	12.12
	INDIAN OVERSEAS BANK	84.40
	DENA BANK	25.89
	ORIENTAL BANK OF COMMERCE	58.91
	UCO BANK	52.46
		233.78
INDIAN TECHNOMAC CO LTD	PUNJAB AND SIND BANK	126.12
	STATE BANK OF HYDERABAD	159.29
	CORPORATION BANK	90.99
	PUNJAB AND SIND BANK	69.17
	CORPORATION BANK	118.71
	STATE BANK OF HYDERABAD	65.47
		629.75
INDORE TREASUREMARKET CITY P LT.	UCO BANK	75.00
INDOSOLAR LIMITED	CORPORATION BANK	134.66
	UNION BANK OF INDIA	200.27
		334.93
INDUS FILA PRIVATE LIMITED	CANARA BANK	87.77
INTERDRIL ASIA LTD.	ORIENTAL BANK OF COMMERCE	78.62
IVRCL INFRASTRCUTURES	PUNJAB AND SIND BANK	23.37
	UNION BANK OF INDIA	100.00
		123.37
J.B. DIAMONDS LIMITED	VIJAYA BANK	92.68
JAIN INFRA PROJECT	CENTRAL BANK OF INDIA	179.75
	ANDHRA BANK	63.13
	UNITED BANK OF INDIA	63.35
	INDIAN OVERSEAS BANK	112.97
	STATE BANK OF BIKANER & JAIPUR	53.00
		472.20
JANTA GLASS LTD.	UCO BANK	85.22
JUD CEMENTS LTD.	INDIAN BANK	25.56
K S OIL	PUNJAB NATIONAL BANK	157.71
	ANDHRA BANK	213.57
	STATE BANK OF MYSORE	67.85
	CENTRAL BANK OF INDIA	239.65
		678.78
KARMAYOGI SHANKARRAOJI PATIL S S K LTD	BANK OF MAHARASHTRA	25.00
KAUSHIK G. LOGISTICS LTD	DENA BANK	25.60
KEMROCK INDUSTRIES & EXPORT	INDIAN BANK	163.53
	ALLAHABAD BANK	445.05
	ANDHRA BANK	76.68
	PUNJAB NATIONAL BANK	207.73
	SYNDICATE BANK	36.49
		929.48
KGF COTTONS PVT. LTD.	STATE BANK OF MYSORE	46.64
KHATIMA FIBERS LTD.	BANK OF BARODA	70.48
KING FISHERS AIRLINES LTD	UCO BANK	245.94
	BANK OF BARODA	444.93
	INDIAN OVERSEAS BANK	136.89
	CENTRAL BANK OF INDIA	314.15
	CORPORATION BANK	197.47
	CORPORATION BANK	65.14
	PUNJAB AND SIND BANK	46.56
	PUNJAB NATIONAL BANK	601.64
	BANK OF INDIA	566.00
	ORIENTAL BANK OF COMMERCE	54.52
		2673.24
KIRI INDUSTRIES LTD	PUNJAB NATIONAL BANK	124.52
KISAN PETRO OILS PVT LTD	PUNJAB AND SIND BANK	33.88
KLT AUTOMOTIVE & TUBULAR PRODUCTS LTD.	VIJAYA BANK	91.64
	CORPORATION BANK	72.06
		163.70
KMP EXPRESSWAY LTD	DENA BANK	36.53
	STATE BANK OF MYSORE	84.36
	STATE BANK OF PATIALA	116.41
	STATE BANK OF TRAVANCORE	88.27
	UNITED BANK OF INDIA	48.70
	VIJAYA BANK	87.06
		461.33
KOUTONS RETAIL INDIA LIMITED	INDIAN OVERSEAS BANK	81.85
	STATE BANK OF TRAVANCORE	45.38
	PUNJAB AND SIND BANK	29.88
		157.11
KRISHNA LIFESTYLE & INDUSTRIES L	UCO BANK	126.64
KSL AND INDUSTRIES	UCO BANK	75.56
LAKHANI AUTO COMPONENTS	INDIAN OVERSEAS BANK	4.99
LAKHANI INDIA LIMITED	INDIAN OVERSEAS BANK	99.26
	ALLAHABAD BANK	55.56
		154.82
LAKSONS FOOTWEAR LTD	INDIAN OVERSEAS BANK	11.95
LALIT POLYESTER P LTD	DENA BANK	24.57
LANCO HOSKOTE HIGHWAY LIMITED	STATE BANK OF HYDERABAD	49.02
	STATE BANK OF MYSORE	48.52
	BANK OF MAHARASHTRA	67.90
	CORPORATION BANK	74.94
	STATE BANK OF PATIALA	109.34
	UNITED BANK OF INDIA	112.87
	STATE BANK OF MYSORE	70.58
		533.17
LAVASA CORPORATION LTD.	STATE BANK OF HYDERABAD	103.91
LAXMI SOLVES	STATE BANK OF TRAVANCORE	28.48
	STATE BANK OF MYSORE	55.67
		84.15
LEITWIND SHRIRAM MANUFACTURING LTD	BANK OF MAHARASHTRA	16.99
LEO MERIDIAN INFRA PROJECTS	ANDHRA BANK	176.04
LEO MERIDIAN INFRA PROJECTS	BANK OF BARODA	187.84
LEO MERIDIAN INFRASTRUCTURE PROJECTS & HOTELS	UNION BANK OF INDIA	125.08
LILLIPUT KIDSWEAR LTD.	BANK OF INDIA	89.00
LIVE 100 HOSPITAL PVT LTD	CANARA BANK	51.40
M S GLASS INDUSTRIES LTD	STATE BANK OF TRAVANCORE	14.99
M V L INDUSTRIES P LTD	PUNJAB AND SIND BANK	29.97
M. SONS GEMS & JEWELLERY PVT. LTD.	STATE BANK OF BIKANER & JAIPUR	13.34
M.B.S. IMPEX P. LTD.	STATE BANK OF HYDERABAD	109.82
M.B.S. JEWELLERS PVT. LTD.	INDIAN OVERSEAS BANK	151.84
M.R.K. PIPES LIMITED	STATE BANK OF MYSORE	28.91
M.S. GLASS INDUSTRIES LTD.	STATE BANK OF BIKANER & JAIPUR	14.87
MADHU FERTILIZERS LTD	UCO BANK	75.95
MAGNUM VENTURES	VIJAYA BANK	27.59
	ORIENTAL BANK OF COMMERCE	59.71
		87.30
MAHESHWARY ISPAT LIMITED	ALLAHABAD BANK	84.12
	UCO BANK	58.91
		143.03
MAHUA MEDIA P;VT LTD	PUNJAB NATIONAL BANK	104.86
	BANK OF BARODA	74.22
		179.08
MAITHAN ISPAT LIMITED	ALLAHABAD BANK	71.36
	STATE BANK OF MYSORE	40.03
	DENA BANK	73.36
	ORIENTAL BANK OF COMMERCE	64.88
		249.63
MAJESTIC HOTELS LTD	PUNJAB AND SIND BANK	15.95
MALLWA COTTON SPI LTD	PUNJAB NATIONAL BANK	115.38
MANGLAM RECYCLING LIMITED	PUNJAB AND SIND BANK	15.03
MARADIA CHEMICALS LTD.	BANK OF BARODA	64.05
MARMAGOA STEEL LTD	BANK OF MAHARASHTRA	30.05
MARUTI COTEX LTD .	UNION BANK OF INDIA	54.64
	BANK OF INDIA	100.00
		154.64
MBS JEWELLERS (P) LIMITED	ANDHRA BANK	243.13
	PUNJAB NATIONAL BANK	280.97
		524.10
MEKA DREDGING CO PVT LTD	DENA BANK	51.04
META COPPER AND ALLOYS LIMITED	CANARA BANK	115.96
MILESTONE ALUMINIUM CO. PTE LTD	STATE BANK OF TRAVANCORE	10.42
MILLENIUM MOTORS PVT LTD	BANK OF MAHARASHTRA	13.68
MISSION VIVACARE LTD.	STATE BANK OF HYDERABAD	48.15
MOHAN BREWERIES & DISTILLERIES	STATE BANK OF HYDERABAD	93.54
	STATE BANK OF TRAVANCORE	41.70
		135.24
MOSER BAER INDIA LTD & GROUP COMPANIES	UNION BANK OF INDIA	144.66
	ORIENTAL BANK OF COMMERCE	436.95
		581.61
MTZ POLETHIN LTD.	BANK OF BARODA	66.60
MURALI INDUSTRIES LTD	BANK OF MAHARASHTRA	36.84
	STATE BANK OF TRAVANCORE	39.93
	PUNJAB AND SIND BANK	50.38
	PUNJAB NATIONAL BANK	216.74
	STATE BANK OF PATIALA	105.01
	ALLAHABAD BANK	52.46
	STATE BANK OF MYSORE	61.15
	STATE BANK OF HYDERABAD	137.58
	BANK OF BARODA	184.33
		884.42
MVL TELECOM LIMITED	DENA BANK	44.33
	PUNJAB AND SIND BANK	43.31
		87.64
MYSORE PAPER MILLS LTD.	STATE BANK OF MYSORE	38.40
N.C.S. SUGARS LTD.	ANDHRA BANK	120.47
NAFED	PUNJAB NATIONAL BANK	225.00
	SYNDICATE BANK	92.32
	CENTRAL BANK OF INDIA	370.46
	ORIENTAL BANK OF COMMERCE	174.73
		862.51
NAFTO GAZ INDIA PVT LTD	CORPORATION BANK	92.33
	STATE BANK OF BIKANER & JAIPUR	13.27
		105.60
NAGARJUNA OIL CORPORATION LTD.	INDIAN BANK	25.00
NAMCO CORP LIMITED	STATE BANK OF PATIALA	59.52
	STATE BANK OF MYSORE	44.65
	INDIAN BANK	31.95
		136.12
NARAYANA FARM PRODUCE PVT. LTD.	BANK OF MAHARASHTRA	66.07
NARENDRA IMPEX LTD.	INDIAN OVERSEAS BANK	127.50
NAV BHARAT	BANK OF MAHARASHTRA	15.45
NAV BHARAT INTERNATIONAL LIMITED	CANARA BANK	79.21
NAVRANADVANCED NANOPRODU	STATE BANK OF PATIALA	28.11
NAVRATAN PIPE LTD.	BANK OF BARODA	67.39
NAWANA SUGARS LIMITED	STATE BANK OF HYDERABAD	41.35
NCL INDUSTRIES LIMITED NCL IND	STATE BANK OF HYDERABAD	63.13
NEW CHENNAI TOWNSHIP PVT. LTD	STATE BANK OF HYDERABAD	41.38
	CENTRAL BANK OF INDIA	192.07
		233.45
NICCO CORPORATION LTD.	STATE BANK OF BIKANER & JAIPUR	13.90
NICOMET INDUSTRIES LTD	UNION BANK OF INDIA	59.09
NIKHIL REFINERIES PVT. LTD.	STATE BANK OF MYSORE	33.37
NIRU CREATIONS	STATE BANK OF PATIALA	40.57
NIRU IMPEX	DENA BANK	49.03
NOBLE DISTILLERIES AND POWERS PVT LTD	CANARA BANK	73.02
NRC LTD	DENA BANK	31.80
	BANK OF BARODA	73.26
		105.06
OCEANIC BIO HARVEST	INDIAN OVERSEAS BANK	76.10
OCEANIC EDIBLE	INDIAN OVERSEAS BANK	109.55
OCEANIC TROPICAL FRUITS PRIVATE LIMITED	STATE BANK OF TRAVANCORE	28.40
OCTAMEC ENGINEERING LTD.	INDIAN BANK	90.79
ORBIT CORPORATION LTD	UNION BANK OF INDIA	52.08
ORCHID CHEMICALS – PHARMACEUTICALS LTD	CANARA BANK	90.41
	STATE BANK OF HYDERABAD	88.60
	STATE BANK OF TRAVANCORE	15.80
	ANDHRA BANK	248.31
	UNION BANK OF INDIA	210.59
	ALLAHABAD BANK	227.81
	INDIAN BANK	56.96
		938.48
ORISSA SPONGE IRON & STEEL LTD.	STATE BANK OF BIKANER & JAIPUR	21.81
ORLANDOFIN B V	CANARA BANK	49.52
P & S COLLECTION .	BANK OF MAHARASHTRA	12.83
P C H RETAIL LIMITED	STATE BANK OF MYSORE	21.82
P R P EXPORTS	INDIAN BANK	120.40
P V S TEXTILES PVT LTD	CORPORATION BANK	45.87
P.S. KRISHNAMURTHY STEELS Pvt LIMITED	STATE BANK OF MYSORE	86.92
PAL MOHAN ELECTRONICS PVT	PUNJAB AND SIND BANK	15.08
PANCHAJANYA POWER LTD	SYNDICATE BANK	34.56
PANTHER INVESTRADE & MGMT. SERV. LTD	ORIENTAL BANK OF COMMERCE	50.00
PARAMESWARA MANGALAM STE	ANDHRA BANK	70.16
PARAMOUNT AIRWAYS PVT. LTD.	ANDHRA BANK	80.02
	BANK OF INDIA	224.00
		304.02
PARASRAMPURIA SYNTHETICS LTD	CANARA BANK	51.81
PAREKH ALUMINEX LTD	CANARA BANK	49.97
PATNAIK STEELS AND ALLOYS LIMITED	STATE BANK OF TRAVANCORE	29.33
PCH RETAIL LIMITED	STATE BANK OF BIKANER & JAIPUR	16.84
PEARL STUDIOS PVT. LIMITED	VIJAYA BANK	110.90
	ORIENTAL BANK OF COMMERCE	111.65
		222.55
PEARL VISION PVT. LTD.	BANK OF BARODA	103.95
	INDIAN OVERSEAS BANK	72.38
	ORIENTAL BANK OF COMMERCE	84.72
		261.05
PGC CORPORATION	INDIAN OVERSEAS BANK	115.89
PIMS MEDICAL & EDUCATION CH	ANDHRA BANK	53.38
PIONEER BREEDING AND HATCHERIES PVT LTD	CANARA BANK	91.35
PIXION MEDIA PVT. LIMITED	VIJAYA BANK	99.58
	INDIAN OVERSEAS BANK	60.00
	ORIENTAL BANK OF COMMERCE	95.00
	BANK OF BARODA	83.63
	BANK OF INDIA	210.00
		548.21
PIXION VISION PVT LTD	DENA BANK	29.60
	VIJAYA BANK	50.54
	ORIENTAL BANK OF COMMERCE	84.40
		164.54
PKS LTD	UNION BANK OF INDIA	129.21
PLG POWER LTD.	ORIENTAL BANK OF COMMERCE	73.74
PMT MACHINES LTD.	UCO BANK	86.40
PRADIP OVERSEAS LIMITED	ALLAHABAD BANK	154.75
	BANK OF INDIA	109.00
	INDIAN OVERSEAS BANK	116.09
	STATE BANK OF PATIALA	57.60
		437.44
PRAJAY ENGINEERS SYNDICATE LIMITED	STATE BANK OF BIKANER & JAIPUR	15.96
PRAKASH VANIJYA (P) LTD	CENTRAL BANK OF INDIA	235.57
PRANJAL INFRASTRUCTURE PVT, LTD.	BANK OF MAHARASHTRA	13.85
PRATIBHA SHIPPING CO LTD	CORPORATION BANK	48.34
PREMIER VINYL FLOORING LIMITED	CANARA BANK	93.78
PRESIDENCY KID LEATHER LTD	SYNDICATE BANK	38.94
PRIME IMPEX LIMITED	ORIENTAL BANK OF COMMERCE	66.83
	INDIAN OVERSEAS BANK	98.94
		165.77
PRIME PULSES LTD.	INDIAN OVERSEAS BANK	69.76
PRIVILEGE IND. LTD.	BANK OF BARODA	90.70
PROGRESSIVE CONSTRUCTION LTD.	BANK OF INDIA	180.00
	ANDHRA BANK	124.08
	CORPORATION BANK	47.19
		351.27
PROMINENT TOURS AND TRAVELS PVT LTD	CANARA BANK	59.26
PSL LIMITED	BANK OF BARODA	276.20
	CANARA BANK	301.55
		577.75
PUNEET FASHIONS PVT. LIMITED	ALLAHABAD BANK	86.82
PURE FOODS	STATE BANK OF PATIALA	65.16
R P INFOSYSTEM PVT LTD	DENA BANK	30.92
	INDIAN OVERSEAS BANK	77.18
	STATE BANK OF MYSORE	24.97
	STATE BANK OF BIKANER & JAIPUR	50.04
		183.11
R R INFOPARK PVT LTD	BANK OF MAHARASHTRA	49.90
	CORPORATION BANK	49.83
	ORIENTAL BANK OF COMMERCE	69.75
		169.48
R. PIYARELALL IMPORT & EXPORT LTD.	VIJAYA BANK	53.81
	VIJAYA BANK	30.99
		84.80
RADHA MADHAV CORP. LTD.	BANK OF BARODA	112.63
RAINBOW DENIM LTD	DENA BANK	29.84
RAIPUR EXPRESSWAYS LIMITED	STATE BANK OF TRAVANCORE	36.77
	UNITED BANK OF INDIA	36.77
		73.54
RAIPUR TREASURE ISLAND P LTD.	UCO BANK	72.99
RAJAT GROUP OF ACCOUNTS/SUSILA STEELS/RAJAT STEELS/RAJAT ALLOYS	UNION BANK OF INDIA	106.70
RAJAT PHARMA CHEM LTD	DENA BANK	34.69
	BANK OF INDIA	293.00
		327.69
RAMA EDUCATIONAL SOCIETY	PUNJAB NATIONAL BANK	106.23
	STATE BANK OF BIKANER & JAIPUR	21.64
	SYNDICATE BANK	31.43
	BANK OF INDIA	85.00
		244.30
RAMSARUP INDUSTRIES LTD. UNIT RAMSAR	ORIENTAL BANK OF COMMERCE	90.86
RAMSARUP LOHH UDYOG	VIJAYA BANK	41.25
	ALLAHABAD BANK	77.31
		118.56
RANGARA INDUSTRIES PVT L	STATE BANK OF PATIALA	32.30
RATHI STEEL & POWER LTD	SYNDICATE BANK	48.84
RATHI UDYOG LTD.	BANK OF BARODA	195.66
REATOX BUILDERS & DEVELOPERS PVT. LTD.	VIJAYA BANK	159.38
RECORDERS & MEDICARE S	STATE BANK OF PATIALA	32.95
REGENCY	STATE BANK OF TRAVANCORE	14.24
REGENCY CERAMICS LTD.	STATE BANK OF BIKANER & JAIPUR	15.51
RENAISSANCE INFRASTRUCTURE	STATE BANK OF MYSORE	25.00
RIC UNIT RAMSARUP IND LTD	PUNJAB NATIONAL BANK	133.67
RIVERSIDE INFRASTRUCTURE	STATE BANK OF PATIALA	65.76
	SYNDICATE BANK	50.00
		115.76
RLU UNIT RAMSARUP IND LTD	PUNJAB NATIONAL BANK	127.89
	PUNJAB NATIONAL BANK	145.27
		273.16
ROCKWOOD HOTELS & RESORTS	ALLAHABAD BANK	62.38
	ORIENTAL BANK OF COMMERCE	59.20
		121.58
ROMAN TARMAT LTD.	VIJAYA BANK	72.36
ROSHAN ELECTRICAL CO. PVT. LTD.	VIJAYA BANK	32.83
S KUMAR NATIONWIDE LTD REID & TAYLOR (IND) LTD. S.KUMARS NATIONWIDE LTD/REID AND TAYLOR/BRANDHOUSE RETAILS	PUNJAB NATIONAL BANK	146.82
	CENTRAL BANK OF INDIA	217.95
	CORPORATION BANK	82.42
	BANK OF INDIA	612.00
	INDIAN OVERSEAS BANK	142.50
	UCO BANK	99.01
	INDIAN OVERSEAS BANK	79.98
	BANK OF INDIA	233.00
	UNION BANK OF INDIA	144.59
		1758.27
S V POWER PVT. LTD.	INDIAN BANK	27.50
S.K.M.FABRICS (AMANA) LIMITED	CENTRAL BANK OF INDIA	113.40
S.V. SUGAR MILLS LTD.	INDIAN OVERSEAS BANK	169.01
	BANK OF INDIA	117.00
		286.01
SABARI INN LTD.	STATE BANK OF BIKANER & JAIPUR	46.54
	STATE BANK OF MYSORE	34.64
		81.18
SABER PAPERS LTD	STATE BANK OF HYDERABAD	67.15
SAI INFOSYSTEM (I) LTD.	STATE BANK OF BIKANER & JAIPUR	55.65
	CORPORATION BANK	109.17
		164.82
SAI RAYALASEEMA PAPER MILLS LTD.	ORIENTAL BANK OF COMMERCE	74.94
SAISUDHIR INFRASTRUCTURES LTD.	STATE BANK OF HYDERABAD	98.47
SAKTHI SUGARS LIMITED – UNIT I	CANARA BANK	97.95
SARVODAYA HIGHWAYS LTD.	STATE BANK OF BIKANER & JAIPUR	52.49
SATAV INFRASTRUCTU PVT LTD	DENA BANK	27.59
	SYNDICATE BANK	45.12
		72.71
SAUMYA DSM INFRATECH LIMITED	STATE BANK OF HYDERABAD	45.38
SAUMYA DSM INFRATECH LIMITED	STATE BANK OF MYSORE	23.11
SERVALAKSHMI PAPER LTD.	BANK OF INDIA	94.00
	INDIAN OVERSEAS BANK	162.79
		256.79
SEVEN HILLS HEALTHCARE P LTD	UNION BANK OF INDIA	59.01
SHAH ALLOYES LTD.	BANK OF BARODA	96.40
	BANK OF MAHARASHTRA	20.10
	UNION BANK OF INDIA	291.83
		408.33
SHANTHI FORTUNE INDIA PVT. LTD.	INDIAN BANK	77.48
SHEETAL REFINERIES LIMITED	STATE BANK OF HYDERABAD	100.33
SHEETAL RICELAND LIMITED	STATE BANK OF TRAVANCORE	11.98
SHIRDI INDUSTRIES	VIJAYA BANK	22.56
	UNION BANK OF INDIA	111.50
	INDIAN BANK	55.55
		189.61
SHIV VANI OIL AND GAS PLORATION SERVICES LTD	UNITED BANK OF INDIA	58.33
	STATE BANK OF TRAVANCORE	98.11
	BANK OF MAHARASHTRA	250.00
		406.44
SHREE BHAWANI PAPER MILLS LTD.	INDIAN BANK	85.13
SHREE MAHALAXMI VINIMAY PRIVATE LT	STATE BANK OF TRAVANCORE	15.35
SHREE MAHESHWARI HYDEL POWER CORPN. LTD	CENTRAL BANK OF INDIA	180.02
SHREYAS LTD.	BANK OF BARODA	74.24
SHRI BHAWANI PAPER LTD.	BANK OF BARODA	71.84
SHRI CHAKRA UDYOG	CENTRAL BANK OF INDIA	127.86
SHRI CHAKRA UDYOG PVT. LIMITED	VIJAYA BANK	24.96
SHRI MAHESHWER HYD P LTD	DENA BANK	41.00
SHRI SAI JEWELS PRIVATE LIMITED	INDIAN BANK	22.59
	UNITED BANK OF INDIA	39.85
		62.44
SHRUTI ART PVT LIMITED	STATE BANK OF PATIALA	33.33
SIDDHARTH NATURAL FOOD RESOURCES PVT LTD	CANARA BANK	50.62
SILICON SALES PVT LTD	BANK OF MAHARASHTRA	15.42
SIVA INDUSTRIES AND HOLDINGS	ANDHRA BANK	45.63
SIVA VENTURES LTD.	CENTRAL BANK OF INDIA	175.00
SOLAR SEMI CONDUCTOR PVT. LTD.	ANDHRA BANK	114.64
SOMA ENTERPRISE LIMITED	PUNJAB AND SIND BANK	28.69
	STATE BANK OF BIKANER & JAIPUR	39.45
	STATE BANK OF HYDERABAD	84.83
	UNITED BANK OF INDIA	97.73
	UNITED BANK OF INDIA	77.12
		327.82
SONI ISPAT LIMITED	STATE BANK OF MYSORE	21.92
SONIA ENTERPRISES	BANK OF BARODA	75.00
SOUBHAGYA HATA-DARGUWAN PROJECTS PVT LTD	UNION BANK OF INDIA	67.88
SOWBHAGYA ISPAT INDIA PVT. LTD.	ANDHRA BANK	47.91
SP SUPERFINE COTTON MILLS PVT. LTD.	STATE BANK OF MYSORE	83.98
SPACE MATRIX LIMITED	STATE BANK OF PATIALA	57.26
SPANCO LIMITED	INDIAN OVERSEAS BANK	78.37
	STATE BANK OF HYDERABAD	72.13
	STATE BANK OF MYSORE	35.05
	CENTRAL BANK OF INDIA	103.77
	UNITED BANK OF INDIA	36.47
		325.79
SPARTA CEMENTS & INFRA LTD	SYNDICATE BANK	25.29
SPS ROLLING STEELS MILLS LTD	ALLAHABAD BANK	101.46
	UNITED BANK OF INDIA	74.97
	ORIENTAL BANK OF COMMERCE	51.37
	STATE BANK OF HYDERABAD	60.03
		287.83
SRAVANTHI ENERGY PRIVATE LTD.	STATE BANK OF MYSORE	57.41
SREE KEDARNATH SUGAR &AGRO PRODUCTS LTD	SYNDICATE BANK	65.35
SREE MATALIKS LIMITED	ALLAHABAD BANK	53.33
	ORIENTAL BANK OF COMMERCE	49.92
	STATE BANK OF BIKANER & JAIPUR	65.87
	UCO BANK	66.71
		235.83
SRELINS OIL RESOURCES LTD.	ALLAHABAD BANK	246.48
SRI LALITA CEMENT INDUSTRIES	ANDHRA BANK	89.47
	STATE BANK OF PATIALA	40.81
		130.28
SRI MURUGARAJENDRA OIL INDUSTRIES	STATE BANK OF MYSORE	77.99
	STATE BANK OF TRAVANCORE	43.11
		121.10
SRI RAMA STEELS LTD	SYNDICATE BANK	58.98
SRINI FOOD PARK PVT LTD	BANK OF MAHARASHTRA	19.45
SSJV PROJECTS PVT LTD	CANARA BANK	157.80
	ALLAHABAD BANK	128.13
		285.93
ST. XAVIER EDUCATIONAL SOCIETY	INDIAN BANK	17.24
STAR BAZAR P LTD	PUNJAB AND SIND BANK	25.35
STCL	UCO BANK	109.61
	VIJAYA BANK	447.63
	CANARA BANK	159.17
	UNION BANK OF INDIA	143.94
		860.35
STELCO STRIPS LIMITED	STATE BANK OF PATIALA	64.04
STEMCOR ALLOYS AND ISPA	STATE BANK OF PATIALA	56.61
STERLING BIO TECH LTD STERLING OIL RESOURCES LTD STERLING PORT STERLING SEZ & INFRA LTD.	PUNJAB NATIONAL BANK	161.76
	ALLAHABAD BANK	241.39
	SYNDICATE BANK	128.81
	SYNDICATE BANK	49.98
	VIJAYA BANK	44.62
	BANK OF MAHARASHTRA	19.26
	ANDHRA BANK	450.33
	BANK OF BARODA	101.27
	BANK OF INDIA	153.00
	INDIAN OVERSEAS BANK	92.65
	UCO BANK	288.69
	PUNJAB NATIONAL BANK	283.49
	ANDHRA BANK	297.09
	BANK OF BARODA	333.35
	UCO BANK	283.64
	UCO BANK	245.00
	ANDHRA BANK	89.71
	UCO BANK	287.10
	VIJAYA BANK	60.21
	PUNJAB AND SIND BANK	34.95
	DENA BANK	26.30
		3672.60
SUBHIKSHA TRADING LTD.	BANK OF BARODA	74.99
SUJANA TOWERS LIMITED	CENTRAL BANK OF INDIA	262.71
SUJANA UNIVERSAL INDIA LTD.	BANK OF INDIA	203.00
	CENTRAL BANK OF INDIA	127.42
		330.42
SUMMER INDIA TEXTILE MIL	STATE BANK OF PATIALA	36.85
SUNNY VISTA REAL TORS P LTD	PUNJAB NATIONAL BANK	122.10
	UCO BANK	101.22
	ANDHRA BANK	75.89
		299.21
SURAJ FABRICS INDUSTRIES LTD.	STATE BANK OF BIKANER & JAIPUR	26.36
SURANA INDUSTRIES LTD.	ALLAHABAD BANK	65.58
SURYA PHARM LTD	PUNJAB NATIONAL BANK	120.48
	BANK OF BARODA	121.47
	CORPORATION BANK	91.16
	STATE BANK OF BIKANER & JAIPUR	55.88
	ALLAHABAD BANK	118.00
	SYNDICATE BANK	58.56
	PUNJAB AND SIND BANK	161.18
		726.73
SURYA VINAYAK INDS LTD	PUNJAB NATIONAL BANK	134.06
	BANK OF BARODA	100.00
	ALLAHABAD BANK	314.81
	CORPORATION BANK	100.00
	UCO BANK	100.04
	UNITED BANK OF INDIA	100.04
	BANK OF INDIA	135.00
	STATE BANK OF HYDERABAD	60.03
	STATE BANK OF PATIALA	56.00
	CANARA BANK	60.03
	CENTRAL BANK OF INDIA	154.99
	STATE BANK OF TRAVANCORE	103.40
	SYNDICATE BANK	28.05
		1446.45
TANTIA CONSTRUCTION LIMITED	VIJAYA BANK	35.72
TAURUS EARTH MOVERS LTD	CENTRAL BANK OF INDIA	119.79
TAVAS CONSTRUCTION PVT. LTD.	INDIAN BANK	73.00
TAYAL ENERGY LTD.	UCO BANK	68.25
TERACOM LIMITED	VIJAYA BANK	33.57
TIDEL PARK COIMBATORE LIMITED	INDIAN BANK	121.50
TIRUPATI BUILD & OFF P LTD	DENA BANK	60.88
	VIJAYA BANK	62.50
		123.38
TIRUPATI FUELS PVT. LTD.	STATE BANK OF BIKANER & JAIPUR	33.24
TIRUPPUR SURYA HITEC APPAREL (P) LTD	STATE BANK OF TRAVANCORE	11.04
TOTEM INFRASTRUCTURE	ORIENTAL BANK OF COMMERCE	65.85
	STATE BANK OF HYDERABAD	46.69
	UNION BANK OF INDIA	138.69
		251.23
TRADE LINE ENTERPRISES PVT. LTD.	INDIAN BANK	22.20
TRINETHRA INFRA VENTURES LIMITED	BANK OF MAHARASHTRA	11.20
TURBOMACHINERY ENGINEERING IND.	INDIAN BANK	27.37
UNIJULES LIFE SCIENCES LTD	BANK OF MAHARASHTRA	25.84
	BANK OF MAHARASHTRA	15.39
		41.23
UNMARK REMEDIES LIMITED	STATE BANK OF TRAVANCORE	18.22
V D B SUGARS (NCS SUGARS)	INDIAN BANK	42.07
VAKKAL IMPEX PRIVATE LIMITED	ANDHRA BANK	45.51
VALLEY IRON & STEEL	ALLAHABAD BANK	59.32
	SYNDICATE BANK	35.20
	CANARA BANK	50.32
		144.84
VANNIAR EDUCATIONAL TRUST	INDIAN BANK	19.02
VARDHAMAN CHEMTECH LTD	STATE BANK OF PATIALA	104.61
VARIETY PRINTS PVT. LTD.	STATE BANK OF BIKANER & JAIPUR	11.99
VARUN INDUSTRIES LIMITED	INDIAN BANK	325.55
	UNITED BANK OF INDIA	203.31
	UNITED BANK OF INDIA	56.55
	CENTRAL BANK OF INDIA	269.29
	STATE BANK OF TRAVANCORE	28.24
	SYNDICATE BANK	126.13
	UCO BANK	120.05
		1129.12
VARUN JEWELS PRIVATE LIMITED	UNITED BANK OF INDIA	63.74
	ORIENTAL BANK OF COMMERCE	49.55
		113.29
VASANTA’S EDUCATIONAL SOCIETY	INDIAN BANK	29.99
VENUS EXPORTS	SYNDICATE BANK	33.91
VERTEX SPINNING LTD	SYNDICATE BANK	25.40
VICEROY HOTELS LTD.	STATE BANK OF MYSORE	21.01
VICTORIA AGRO FOOD PROCESSING PVT LTD	BANK OF MAHARASHTRA	16.90
VICTORY ELECTRICALS LTD.	BANK OF BARODA	76.90
	BANK OF INDIA	82.00
		158.90
VIGNESHWARA EXPORTS	PUNJAB AND SIND BANK	39.65
VIJAYAA STEELS LIMITED	CANARA BANK	72.15
	SYNDICATE BANK	37.07
		109.22
VIKAS METAL & POWER LIMITED	UNITED BANK OF INDIA	39.36
VIKASH SMELTER & ALLOYS LTD.	BANK OF INDIA	119.00
VIKASH SMELTERS & ALLOYS LIMITED	UNITED BANK OF INDIA	46.23
VIKRAM HOSPITAL PVT LTD	UNITED BANK OF INDIA	47.23
VIPUL IMPEX & INFRABUILD LIMITED	ORIENTAL BANK OF COMMERCE	86.55
WEBSOL ENERGY SYSTEM LIMITED	ALLAHABAD BANK	110.63
WEST BENGAL ESSENTIAL COMMODITIES SUPPLY	BANK OF MAHARASHTRA	11.34
	SYNDICATE BANK	32.06
		43.40
WHITE METALS LTD.	INDIAN OVERSEAS BANK	106.40
WINSOME DIAMON & JEWEL CO LTD FOREVER PRECIOUS JEWELLERY & DIAMOND LTD.	PUNJAB NATIONAL BANK	913.58
	CENTRAL BANK OF INDIA	710.72
	BANK OF INDIA	87.00
	STATE BANK OF HYDERABAD	121.46
	UNION BANK OF INDIA	264.75
	ORIENTAL BANK OF COMMERCE	150.54
	VIJAYA BANK	140.52
	BANK OF MAHARASHTRA	271.83
	BANK OF INDIA	160.00
	VIJAYA BANK	80.60
	CENTRAL BANK OF INDIA	255.62
		3156.62
XENITIS INFOTECH LIMITED	STATE BANK OF BIKANER & JAIPUR	21.83
XENITIS INFOTECH LTD	UCO BANK	89.65
XL TELECOM – ENERGY LIMITED	CANARA BANK	238.42
	VIJAYA BANK	38.14
		276.56
YAZDANI STEEL & POWER LTD.	STATE BANK OF BIKANER & JAIPUR	18.78
YOGRAJ INFRASTRUCTURE LTD	SYNDICATE BANK	119.52
ZENITH COMPUTERS LTD.	INDIAN BANK	41.20
ZOOM DEVELOPERS	SYNDICATE BANK	79.78
	CORPORATION BANK	55.31
	ORIENTAL BANK OF COMMERCE	127.78
	PUNJAB NATIONAL BANK	410.18
	DENA BANK	56.84
	CENTRAL BANK OF INDIA	102.45
	ANDHRA BANK	88.37
	ALLAHABAD BANK	112.81
	UCO BANK	309.50
	VIJAYA BANK	111.03
	CANARA BANK	76.81
	UNION BANK OF INDIA	279.12
		1809.98
ZYLOG SYSTEMS (INDIA) LIMITED ZYLOG SYSTEMS LTD/MATRIX PRIMUS PARTNERS	ANDHRA BANK	76.85
	DENA BANK	97.42
	SYNDICATE BANK	152.46
	UNION BANK OF INDIA	388.76
		715.49
406 BAD LOAN ACCOUNT	RS.70,300 CRORES.

‘equal pay for equal work’. Union’s push for rights may help contract employees of vendors serving banks

2 lakh staff of service providers may come under AIBEA- affiliated federations

Mumbai, May 5:  

There may be some good news ahead for nearly two lakh contract employees working for vendors providing various services to banks. The All India Bank Employees Association is planning to organise these workers into federations across the country in order to help them, among other things, win the right to ‘equal pay for equal work’.

The Association, which seeks to protect the interests of bank employees, represents about five lakh Class III (clerical staff) and Class IV (award staff) employees in the banking sector.

Vishwas Utagi, General Secretary, Maharashtra State Bank Employees Federation (an AIBEA affiliate) said: “Earlier, we wanted banks to start recruiting and stop outsourcing of jobs. But now, the situation is such that though recruitment has started, outsourcing has not stopped.”

In the long run, the Association, by taking such employees under its wing, hopes to add these nearly two lakh employees as its members. Typically, these employees work with vendors to whom banks outsource non-core tasks such as cash transportation, ATM and branch security, courier services, house-keeping, and customer contact centres.

The AIBEA recently formed the first such grouping of contract staff, the Maharashtra Rajya Bank Contract Employees Federation, and plans to form similar federations across all states soon.

Pointing out that the employees of service providers are an exploited lot, Utagi said despite putting in long years of service they do not get minimum wages in accordance with law. They are also denied statutory benefits such as provident fund, and are not insured under the Employees’ State Insurance Scheme (a cover for Medicare ) as employers do not contribute their share of the money to the scheme.

Public sector story

Managements of public sector banks too are are increasingly pushing for outsourcing. In 2010, the committee on human resource issues in public sector banks had said that, consequent to extensive use of technology, PSBs will be required to change their business processes.

“They (PSBs) are also coming out with new business models for launching new business lines. All this will increasingly call for high focus on their core businesses and outsourcing of non-core activities,” it said.

http://www.thehindubusinessline.com/economy/macro-economy/unions-push-for-rights-may-help-contract-employees-of-vendors-serving-banks/article5979287.ece

Take legal action against those responsible for fraud and wilful default – Ministry of Finance

NEW DELHI: As part of the strategy to contain bad debts, the Finance Ministry has directed all public sector banks to accord top priority to cases of fraud and wilful default and take legal action against those responsible.

“Cases of fraud have been detected in many banks. There is no difference in fraud and wilful default as both are intentional in nature,” Financial Services Secretary Gurdial Singh Sandhu told PTI.

“So banks have been asked to declare such cases as wilful default and appropriate legal action should be initiated by banks,” he said.

Cases of fraud include providing wrong information, submission of fictitious documents and so on.

Sandhu said banks have to deal with all such cases firmly so that non-performing assets could be brought down.

“Banks have to make all out efforts for NPA recovery and reducing level of NPA and cost of funds. Government would be working very closely with banks,” he added.

Non-Performing Assets or bad loans of state-owned banks rose by 28.5 per cent from Rs 1.83 lakh crore in March, 2013 to Rs 2.36 lakh crore in September last year.

Banks recovered Rs 18,933 crore worth of bad loans during the April-December period. They have been monitoring their top 30 bad loan accounts for quite some time now.

PSU banks accounted for the disproportionate share in this increase in NPAs, while the new private sector banks managed to lower their NPA ratio.

Last month, Finance Minister P Chidambaram had said “the biggest challenge facing the public sector banks is NPAs and asset quality… NPAs are high in large corporate sector as well as in the SSI and MSE sector”.

Chidambaram had said NPAs for 2013-14 are “likely to be a little higher” over 2012-13, when they stood at 3.84 per cent.

Stressing the importance of addressing NPAs, the minister had said: “We have told them (banks) to focus on recovery and banks are focusing on recovery.”

http://economictimes.indiatimes.com/news/economy/finance/finance-ministry-directs-banks-to-deal-firmly-with-fraud-wilful-default/articleshow/34284922.cms

THE MODEL QUESTION PAPERS WITH ANSWERS FOR SCALE PROMOTIONS 2014

CLICK HERE TO VIEW THE MODEL QUESTION PAPERS WITH ANSWERS FOR SCALE PROMOTIONS 2014. The answer is marked by *

Public sector bankers plan to ask Finance Ministry for 5-day week

Mumbai, April 18:  

Executives from State-owned banks seem determined to prove to the Finance Ministry that a five-day work week is feasible in the banking sector.

While the ministry turned down bankers’ earlier feelers to this end, this time round, the bankers intend to knock on its doors with a cost-benefit analysis for a five-day week.

The ministry has contended in the past that the cause of financial inclusion would suffer with a shorter week, but bankers feel that in this age of modern technology, a bank is accessible to customers 24/7 via alternative delivery channels such as ATMs, the internet, mobile commerce and business correspondents. Financial Inclusion refers to mainstream banks ensuring all sections of society, in general, and vulnerable groups, in particular, have access to financial products and services at an affordable cost, in a fair, transparent manner.

According to a top public sector bank official, the Indian Banks’ Association will carry out a cost-benefit analysis of the five-day work week pattern and the same will be placed before the ministry for its consideration.

A trade union official wondered why bank employees should be denied the benefits of a five-day week when Central Government employees have been enjoying them for nearly three decades.

To increase efficiency in administration, the Union Government had introduced the five-day week in 1985, increasing daily working hours during the five days by an hour.

According to RBI data, there were 11,75,149 employees working in 169 scheduled commercial banks in the country as of March 2012.

UK view

Outlining the benefits of a five-day week to employees in a note, the UK’s labour department said they could have sufficient rest, time with family, and time for further studies and personal interests.

When it comes to employers, the note said the five-day work week would enhance a company’s efficiency, reduce absenteeism, enhance the enterprise’s competitiveness, and retain talent.

http://www.thehindubusinessline.com/companies/public-sector-bankers-plan-to-ask-finance-ministry-for-5day-week/article5926262.ece

End of support for XP could cost Indian banking industry Rs 110 crore daily

A study conducted by Ascentius Consulting on behalf of Microsoft revealed that more than 34000 Indian public sector bank branches could be at risk when Microsoft pulls the plug on support for Windows XP on April 8, 2014. According to data points available to Ascentius from public sources including RBI and primary research interviews, the total number of vulnerable branches that have 40% or more penetration of Windows XP PCs is close to 34115.

For banks, whose entire structural edifice is built on technology, the termination of extended support for Windows XP is an event of major significance, particularly given that PC’s with Windows XP are strewn across thousands of bank branches in metro, urban, semi-urban and rural branches in India.

This event is likely to give rise to IT risks and concomitantly, operational risks and reputational risks for banks.

“Our research suggests that that while all banks are aware of the event leading to termination of extended support to Windows XP, many banks that have not paid sufficient attention to addressing the risk emanating from this event,” says Alok Shende, Founder Director & Principal Analyst, Ascentius Consulting.

Given that there’s a large transactional IT infrastructure residing on Windows XP, the arrival of this event can have a significant impact on both the banks and customers.

According to the report, there is a large segment of state owned banks that have embarked on the journey to move away from Windows XP, but may still be left with approximately 20% to 30% of their base on Windows XP even after April 2014.

From a technology risk perspective, with no free new patches, hot fixes, free support options, Windows XP will become zero day forever. Cyber criminals will focus on Windows XP to identify new sources of vulnerability and are likely to focus on targets with significant monetary potential.

According to Ascentius report, in the worst case scenario where sources of hazards impact with full force, Indian Banking industry will be exposed to loss of income to the range of Rs 110 crores (approximately $1.8 billion) daily and about Rs 330 crores over a 3 day period. In metro and urban branches, 55 per cent of customers could face an extended wait time of up to 30 minutes for an average transaction.

This risk is particularly accentuated because Microsoft releases security patches regularly, with an unintended consequence of leaving a trail for cyber criminals to pursue. Banks could also lose out on emerging opportunities like financial inclusion initiatives and NREGA because Windows XP PC’s are unlikely to support the current edition of biometric hardware, card encoders and software that has been written for latest technology.

CERT India has already written an advisory note for Windows XP users to immediately plan for upgradation to the latest available OS according to their requirement.

According to Ajay Dubey, Territory Account Manager, South India, Websense, there are three channels which cyber criminals can use to enter a bank once security patches for XP stop. One of these is the web channel which includes email and other connectivity tools.

The other is the physical channel, which means entry through a corrupt USB, hard driver etc. Dubey says that while the email and the web door can be guarded at the data center gateway level, banks still running XP will have to be extra careful with their physical channels. As an immediate step, banks that will still be running XP after April 8 should strengthen their gateway security, Dubey advises.

Banks are starting to crack down on defaulters.

 

Mumbai: State Bank of India (SBI), the nation’s largest lender by assets, is planning to take action to recover money owed by a construction firm linked to a senior Congress party politician and Union minister, signaling the seriousness with which banks are taking central bank and government warnings to curb bad loans.

Hyderabad-based Progressive Constructions Ltd (PCL), a company founded by textile minister Kavuri Samba Siva Rao and headed by his daughter Srivani Mullapudi, owes about Rs.350 crore to SBI and other creditors, mainly state-run banks.

PCL has defaulted on about Rs.70 crore of loans advanced by SBI in 2011-12 that have been classified as non-performing assets. About Rs.43 crore of that is fund-based exposure and the rest is in the form of guarantees.

Other banks owed money by the company include Andhra Bank, with Rs.149 crore of exposure, Corporation Bank (Rs.47 crore) and Allahabad Bank (Rs.42 crore), according to data with the All India Bank Employees Association (AIBEA). The association said it sourced the numbers from these banks.

Employee unions at the banks have now written to the Election Commission about PCL ’s bad loan problems, ahead of the April-May general election, according to C.H. Venkatachalam, general secretary of AIBEA.

The company “has secured loans from various state-run banks over years using obvious political influence”, Venkatachalam said. Mint couldn’t independently ascertain this.

SBI could seek legal recourse to recover the money, a senior executive at the bank said, requesting anonymity on grounds that the matter is sensitive in nature.

“We have asked for viability study of the company, which is not done yet. We are now planning to take whatever action possible to recover the money including approaching courts,” this person said.

Both the Reserve Bank of India (RBI) and the Congress-led United Progressive Alliance government have been pushing state-run banks to reduce a pile of bad loans by taking strict action against defaulters.

Gross non-performing assets (NPAs) of 40 listed Indian banks rose 36% to Rs.2.43 trillion as of December-end from Rs.1.79 trillion in the year-ago period.

About Rs.4 trillion of loans are being recast by banks both through the so-called corporate debt restructuring mechanism, which involves lenders writing off some debt and rolling over some more, and on a bilateral basis between individual banks and borrowers.

“If we sit on these restructured assets without closer monitoring and action, we will see further erosion in value. And that we need to combat,” RBI governor Raghuram Rajan said in an 8 October interview with Mint.

“We cannot have an affluent promoter and a sick company,” finance minister P. Chidambaram said in March last year.

To be sure, many companies, especially infrastructure firms, are struggling to repay loans. Slower economic growth, high interest rates and delayed projects have impaired the ability of many borrowers to service debt, burdening banks with non-performing assets.

“There has been over-leveraging in the infrastructure sector in the recent years due to high growth expectation in the economy, which didn’t happen,” said Ananda Bhoumik, a senior director at India Ratings and Research Pvt. Ltd. “Also, various clearance delays have impacted the cash flows of these firms.”

Banks are starting to crack down on defaulters.

“Banks have become very stringent in terms of recovery of bad loans no matter how big or how small the company is,” said Abhishek Kothari, an analyst at Net worth Stock Broking Ltd. “Especially, in the case of SBI, the bank has really quickened the process of recovery, using all possible options.”

In the case of PCL, invoking the guarantees submitted by the firm is one option, the SBI official cited above said. SBI has stayed out of a loan restructuring exercise that other lenders with exposure to PCL offered the company in 2012-2013 because the bank was concerned about its future viability, the official said.

The loans were meant for various projects planned by PCL, some of which didn’t take off eventually, the banker said. They have either turned bad (between June 2008 and September 2013) or are being recast, he said.

Email queries sent to Andhra Bank, Corporation Bank and Allahabad Bank on Tuesday evening hadn’t been answered as of press time on Thursday.

An email sent to PCL on Tuesday seeking details of its bank loans also did not elicit a response.

Samba Siva Rao, a member of Parliament from Eluru in Andhra Pradesh, said over the telephone on Wednesday that he did not hold any official position in the company now.

“There could be some issues (with the company in connection with bank loan exposure),” he admitted.

http://www.livemint.com/Industry/x7kLoPpJ6JA8XNbNvc8JWM/Banks-to-act-on-loans-to-firm-tied-to-minister.html

 

MEETING WITH GM , HR WING HEAD OFFICE, BANGALORE

REF: CBOU: 06: 2014

DATE : 01 03 2014

TO

ALL OFFICE BEARERS AND COMMITTEE MEMBERS

Dear Comrades

Sub : MEETING WITH GM , HR WING HEAD OFFICE BANGALORE

-*-

The undersigned along with our President Com P R Rajagopal, Vice President Com K P Prasad and our Secretaries Com C Ramesh and Com Ramaiah met General Manager HR Wing, Head Office Bengaluru on 25/02/2014 at Head Office.

At the outset our GM Welcomed the Office Bearers of the Union. The DGM Sri CP Giri was also present. We thanked our GM for the support extended to our members. We congratulated our Bank for the stupendous growth in terms of business figures as at 31/12/2013 and our team of leaders extended the support of the Union and the entire members for the growth of our Bank.

The Office bearers of the Union also wished further growth of the bank and expressed happiness over the growth of the number of branches (at present it is more than 4600). However we requested our GM that sufficient man power and other infrastructure be provided to the newly opened branches so that the growth rate shown by our bank could be sustained.

We requested our GM on the transfer policy document submitted by our Union. It was informed by GM that the bank is in the process of re writing the transfer policy of the bank taking into account the present situation in our Bank and also the suggestions provided by our union in this regard. He confirmed that for the current year’s annual transfer, our long pending request of allotment of officers and Managers for transfer intra state circles as is being done for home state transfers will be done.

With regard to lady Officers/Managers we have renewed our request for bringing them back to home Circle/State on completion of two years tenure at transferee circle/state , on request.

With regard to our pointing out the reluctance of some of circles to refer/consider the requests of Officers/Managers who have completed the tenure of 3 years in two different circles/states at a stretch, the response from our GM and DGM was positively in favour of our request and to issue necessary guidelines in this regard to those circles.

We also submitted list of requests consolidated by our Central Office.

As regards our request to absorb the 13 Invest Officers out of the 184 Invest officers the response from our GM was positive and hopeful.

On our request for improvements in the Staff Welfare measures , it was informed that the needful would be done with in the overall ceiling of Rs. 25 Crores.

There was positive response from our GM on our long pending request for Cannet facility to our Central Office.

We also suggested to for introduction of VPF for the Officers/Prob Officers who joined the Bank after April 2010.

Assurance was given to our Top management that the improvement of CASA and NPA recovery will be given top priority in our meetings with our members We also congratulated our Bank for accepting our suggestion on the introduction of new Technology products which will improve our share of CASA .

On specific issues our GM advised to take up the matter with DGM and we submitted our request of specific issues for solution to DGM..

Our Office bearers also met our GM Vigilance Wing on a courtesy call and our GM advised our members to be more vigilant in discharging duties . He expressed his happiness that the total number of charge sheets are very less as compared to the total work force.

Comrades, the meeting with the Top Executives of our Bank is very positive and we also expressed our support and solidarity to our Bank for a sustained growth. Some of the requests of our Union are acknowledged by our Bank very positively and where the so called majority organisation of officers have failed to deliver the officer community, we are happy that we could achieve.

Please circulate this positive message with our comrades of your circle irrespective of the affiliation.

With greetings

M A SRINIVASAN

GENERAL SECRETARY

Rising online fraud pushes banks to seek insurance cover

 

MUMBAI: Indian banks are increasingly seeking insurance cover against fraudulent online transactions, including those involving credit cards, as a rising use of plastic money and the ease of Internet business potentially increase lenders’ exposure to cases of data breach.

 

Data from insurance companies show that large banks are opting for policies worth Rs 500 crore to shield against fraud, including online, while mid-sized banks are going for policies in the range of Rs250-300 crore. “Demand for insurance policy against phishing, skimming and Internet hacking has gone up in the last one year,” said TR Ramalingam, head of underwriting at Bajaj Allianz General Insurance. “Enquiries have gone up and we are working on how to price the product and working on the wording”

 

Earlier, insurance policies did not include computer-related frauds, but now insurers expect it to be big in coming days. The premium, which depends on several factors, ranges between 1% and 2% of liability the bank is looking to insure. In 2012-13, domestic banks lost Rs17,284 crore on account of fraud, according to information obtained through the Right to Information Act. During the period, 62 banks filed a total of 26,598 cases related to online frauds. The situation has compounded the woes of the bank sector where lenders are facing huge non-performing assets. “The policy covers cyber extortion and breach of data privacy,” said M Ravichandran, president, Tata AIG General Insurance. “There is a lot of talk around cyber insurance and people are actively looking to secure these exposures.”

 

While companies like Tata AIG have underwriting capabilities for these policies, for others, it is reinsurance driven. Cyber extortion policy pays a ransom to a person who has hacked into the bank’s website with a threat to divulge, destroy or steal confidential information. Last year, ATM cards of a leading private sector bank’s customers were skimmed and about Rs15.48 lakh stolen from accounts.

http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/rising-online-fraud-pushes-banks-to-seek-insurance-cover/articleshow/31365405.cms

PSU banks dominate in deposits and lending.

Despite the existence of new private banks over the last two decades, PSU banks dominate in deposits and lending.

There’s the trust factor too. As economic conditions turn dodgy, despite public sector banks facing more asset quality issues than their rivals, people seem to prefer PSU names such as SBI, believing in the tacit Government guarantee.

This impression has been strengthened by the Government infusing capital year after year into PSU banks, to help them meet their capital adequacy norms.

In the last two years, SBI and its associates alone garnered about ₹3.8 lakh crore of incremental deposits; this equals the amount amassed by all 20 private sector banks put together.

“Capital too is critical for growth. In effect, the competition has been between PSU banks and a few private sector banks which have been able to bring in more capital,” says Ananda Bhoumik, Senior Director and Head, Financial Institutions, India Ratings & Research.It is also true that PSU bank employees are trying harder to woo depositors in recent years, with many banks raising the bar on employee productivity.

Catching up

According to India Ratings & Research, employee productivity has improved steadily for PSU banks. In 2007-08, the ratio of deposits per employee of a PSU bank was lower than that for private players. The trend started to change from 2009-10. By 2012-13 the deposits per employee stood at ₹7.2 crore for PSU banks against ₹5.2 crore for private banks.

“While private players have brought in several innovations around products, technology and customer servicing, several public sector players have been quick to follow to retain a dominant position,” says Monish Shah, Senior Director at Deloitte India.

 http://www.thehindubusinessline.com/economy/psbs-vs-private-banks-trust-plays-a-big-role/article5743660.ece

 

PACL Ltd, A private company had cheated thousands in Kerala of their life’s savings

 

A private company, being probed by the Central Bureau of Investigation (CBI) on the charge of defrauding crores of investors in northern India of an estimated Rs.45,000 crore, had cheated thousands in Kerala of their life’s savings in 2012-13, according to the State police.

The police are scheduled to review the cases pending against the firm (PACL Ltd) in Kerala against the backdrop of CBI raids on its offices in Haryana, Punjab, and New Delhi this week.

Interestingly, the firm had sponsored several high-profile events in Kerala, including boat races in Kollam and Alappuzha, ostensibly to earn legitimacy and political patronage.

Investigators said video footages of the events show that they were thickly attended by politicians and celebrities. However, the firm’s directors, who are now high on the wanted list of the CBI, were curiously absent from the occasions and the company was represented largely by its contract workers.

(The police later told the High Court in a sworn statement that some of the firm’s employees who were arraigned as accused in the case seemed unaware of the “real persons behind the business.”)

In 2012, it had closed down the offices of the firm in Kasaragod, Thrissur, and Kannur on the charge of cheating the public of their savings by running a fraudulent investment scheme.

The firm employed hundreds of agents, who were given a disproportionately high percentage of the investments they canvassed as commission. In its affidavit to the High Court, the police said the firm had collected large amounts of money from the public.

The investigation revealed that the land the firm claimed to own in its brochures did not exist and no registration had taken place.

http://www.thehindu.com/news/national/kerala/thousands-in-kerala-cheated-by-firm/article5740804.ece

 

India’s 1st post office savings bank ATM inaugurated in Chennai

 

Chennai, Feb 27:  

The country’s first Post Office Savings Bank ATM was inaugurated here today by Finance Minister P Chidambaram as a part of the government’s ₹4,909 crore IT modernisation scheme for the Department of Posts.

After launching the ATM service at Thiyagaraya Nagar Head Post Office (HPO), Chidambaram said that ₹4,909 crore had been allocated for the IT modernisation of Department of Posts in the interim budget for 2014-15.

“The IT modernisation scheme is aimed at making Department of Posts a completely technology-oriented one and today’s initiative is a step in that regard,” he said.

The IT modernisation scheme would cover 1.55 lakh Post offices and would be implemented by next year, he added.

Speaking about the newly launched ATM service at the HPO, Chidambaram said that while it will initially operate in a closed environment for about six months, it will later change to ‘inter-operability,’ on the lines of bank ATMs, allowing customers to withdraw money from any ATM.

About Department of Posts, Chidambaram said that while questions were being raised about its future, especially in the wake of dip in use of letters and postcards, it was adopting new strategies and was therefore on the growth path.

Still a large number of people believe that Department of Posts is the best in courier and parcel delivery areas, he added.

An official release said the T Nagar HPO ATM is the first in the country and “four more ATMs are ready for operations” in Delhi and Mumbai.

“It is proposed to install 1,000 ATMs across the country in 2014. Another 1,800 ATMs will be added in 2015,” it said.

It added that ₹700 crore has been earmarked for implementing Core Banking Solution (CBS) for Post office Savings Bank. As on date, 51 HPOs and 11 Sub-post offices have “migrated” covering 64 lakh accounts.

By March 31, 2014, a total of 700 more post offices will be covered and all 26,840 post offices will be functional under CBS in another two years, it said.

Dependents do not aware of existence of a life insurance Policy

Unclaimed money with life insurance companies has grown over 250% in the four-year period from 2009-10 to 2012-13, the Insurance Regulatory and Development Authority (IRDA) of India said in a circular on Tuesday.

At the end of 2012-13, unclaimed money with life insurance companies was Rs 4,866 crore compared to Rs 1,373 crore in 2009-10.

According to the insurance regulator, the rise in unclaimed amount is largely because of dependents not being aware of existence of a life insurance policy. Among other reasons that the IRDA said is leading to growing unclaimed amount are delay in settlement of claim and change in address of the insured.

“In few cases, change of address in not duly intimated to the insurer, in absence of which cheques/demand draft issued by the insurer towards maturity payment is not received by the insured,” observed IRDA in the circular.
In order to ensure timely payout to policy holders,

IRDA has asked insurance companies to make various disclosures such as the amount which remained unclaimed for more than six months from the due date of settlement, nature of the unclaimed amount (death claim, maturity benefit, etc), details of action taken (for payment of the unclaimed money) by the insurer and the status of the unclaimed amount.

Initially, insurers have been told to upload this information on their website by 31 March 2014. Subsequently, they have been advised to put up this information every six month by 30 September and 31 March every year.