Indian PSUs have become a role model for their counterparts in other countries, which closed their shutters during recession.
Andhra Bank (AB) Chairman and Managing Director B.A. Prabhakar opined that the nationalised banks are facing the biggest challenge due to drop in economic growth in the country.
The crisis in manufacturing industry and agriculture sector had severely affected the financial growth of public sector banks, said Mr. Prabhakar and called upon the employees to strive whole-heartedly for bringing the past glory of the Public Sector Units (PSUs) banks.
The bank chief spoke about HR initiatives, Non-Performing Assets (NPA), fall in banking business, Financial Inclusion Scheme, core banking, increasing frauds, promotions and other issues in the All India Andhra Bank Award Employees’ Union (AIABAEU) Sixth National Conference held here on Sunday. Employees of various banks from all over the country participated. All India Bank Employees Association (AIBEA) general secretary Ch. Venkatachalam inaugurated the two-day conference. AIABAEU president and AB Workmen Director Manoranjan Das presided over the programme.
Fall in growth
Addressing the delegates, Mr. Prabhakar said that the growth in banks has dropped to 15 per cent in 2012, due to the NPAs are increasing steeply. The over dues which were only one per cent in 2011, increased to 3.42 per cent last year in the Bank, he said and stressed the need for focusing on Current and Savings Account deposits, Small and Medium Enterprises.
Mr. Venkatachalam said 95 per cent of the rural areas are not under the reach of banks in India and only 13 per cent of the people are using banking facilities. Instead of encouraging globalisation, Government should take steps for strengthening PSUs and extend banking services to all areas. Stating that nationalised banks are playing a key role in the economic development of the country, he observed that Indian PSUs have become a role model for their counterparts in other countries, which closed their shutters during recession.
Earlier, the bank officials and union leaders garlanded the portrait of Bogharaju Pattabhi Sitaramayya, the founder of Andhra Bank, which was celebrating the 90 year celebrations.
AB Executive Directors S.K. Kalra and Mishra, General Manager R. Padmanabhan, Central Bank of India Workmen Director B.S. Rambabu, MLC Jelly Wilson, union leaders T. Ravindranath, B.V.V. Kondala Rao and others participated.