‘This number has been approved by the IBA'

There will be 7 lakh postings in public sector banks in the next four to five years as there is a dearth of employees, according to B.R. Bhat, General Manager, Corporation Bank.

He was speaking after inaugurating an all-India conference and the annual general body meeting here on Monday.

He said it was a number approved by the Indian Banks Association (IBA) and was discussed at the recently-held annual banking conference (BANCON) in Chennai.

He said: “Financial inclusion requires a lot of work. With 450 million people coming into the banking fold, there will be pressure on banking servicing.”

It was not just opening an account, banks had to improve their economic activity, which meant giving loans and servicing the loans. With no access to banking system in rural areas, people had to approach moneylenders for loans. Once a person got access to banking, banks should ensure that he had an income generating activity and he was free from the clutches of moneylenders, Mr. Bhat said.


“We have to get a model that is low cost and is working, and we can see how technology can help in getting such a model,” he said.

This (addition of employees) would help banks to rope in and meet challenges of the banking sector and take best care of their customers in providing services and reaching out to people with no banking access, he said.

Captain Ganesh Karnik, MLC, said that the banking sector was seeing big changes. He said 25 years ago, an individual, family, institution, organisation, and the bank were closely interlinked. Today, only the credit card linked a person with the bank. In the coming years, technology intervention would play a bigger role than it was playing today in banks.

He said that for a bank to be more efficient, employees should see how the management could be supported, through the union. “The union can't keep milking the organisation,” he added.

He said members of the Bharatiya Mazdor Sangh (BMS) should encourage others to join it so that the movement would become strong.

J. Krishna Palemar, Minister for Fisheries, Ports and Inland Water Transport, said that it was unusual to see politicians at a conference of workers' unions as seen at this meeting.

He said in Karnataka, there was no anti-industry sentiment.

People in Karavali and in the State believed that industry should come and be profitable and this was the value held by each BMS member. “They do not say industry should close,” he said.

Yogish N. Bhat, Deputy Speaker of the Legislative Assembly, said that the relationship of an individual, institution and the nation was like the three sides of a triangle. All three had to balance for the perfect triangle. However, the “personal” element in the triangle got more attention.