The Indian banks gave the bankers an increase of 15 % in their emoluments under threat of a trade union call for a strike. If you adjust for inflation at 6 %; this is about 9 % real increase. ( Annual increase in financial burden on the banks is reported at Rs. 4,725 crores ) The amount is to be paid with retrospective from November 2012. real sector is expected to grow at around 7.% % even by revised estimates.
With alarming rates of NPA and a maximum growth rate of 15 % per annum possible as estimated by the industry, , this quantum is a heavy financial burden on the banks. Where will they recoup this heavy burden?Why are the white collar unions threatening? The Prime Minister hinted at lazy banking and then gave them sops to avoid a strike? The message is indiscipline. Reforms are meaningless if wages are not tied to productivity.
Indian industry will have to pay the price if not lesser deposit rates! Imagine resources garnered through jan dhan yojna getting less to pay for white collar bankers. This is getting back to populism days.
The wages of 'lazy banking' as suggested earlier is an enhanced pay packet!
No wonder why rating agencies do not buy the India story. India needs a Thatcher.
Views expressed With no risk or responsibility!
With alarming rates of NPA and a maximum growth rate of 15 % per annum possible as estimated by the industry, , this quantum is a heavy financial burden on the banks. Where will they recoup this heavy burden?Why are the white collar unions threatening? The Prime Minister hinted at lazy banking and then gave them sops to avoid a strike? The message is indiscipline. Reforms are meaningless if wages are not tied to productivity.
Indian industry will have to pay the price if not lesser deposit rates! Imagine resources garnered through jan dhan yojna getting less to pay for white collar bankers. This is getting back to populism days.
The wages of 'lazy banking' as suggested earlier is an enhanced pay packet!
No wonder why rating agencies do not buy the India story. India needs a Thatcher.
Views expressed With no risk or responsibility!
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