News

Half of the operating profit earned, amounting to 423 Million Indian Rupees set aside for bad debt provisioning in Central Bank of India. Non-performing loans of the 104 years old, first national bank in India, Central Bank of India has increased to  Rs 1150 Million.

Bank has recorded a loss of Rs 126 Million as a result of excessive provisioning; and bank’s Chairman, and Managing Director Shri Rajiv Rishi has swiftly moved to squeeze the staff benefits; stripping off the medical claims of staff; even to the extent of Rs 5000.00 –a benefit the bank employees including the retired employees enjoyed for their loyal services put in to the bank, said Subhash Sawant General Secretary of INBEF

Indian National Bank Employees Federation (INBEF) and its affiliate Central Bank Employees union organized a protest campaign against the Management’s failure to excercise prudent credit appraisal scheme  in the banks and resorting to  cut down the staff benefits instead of soliciting the cooperation of employees to recover the Non- Performing loans. 

On 1st November 2014, All India Central Bank Employees Congress organized an agitation campaign in Mumbai, historical Azad Maidan; mobilizing the union members and exposed the companies and their Directors who are defaulting resulting in an huge erosion of funds in Public Sector Banks, and calling the bank to stop harassing the trade unions, and stripping off the meagre benefits enjoyed by the employees in the bank.