1

Chapter-I

Introduction

Objectives

Need for the study

Scope of the study

Research & Methodology

Sampling

Measurement Techniques

Limitations

2

(1.1) INTRODUCTION :

The basic objective of the Staff Welfare Scheme Management is to uplift the physical, mental and economic conditions of its employees in order to get the best out of them in addition to fulfilling the social responsibility cast upon the organization.

It is a fact that the Industrial progress of the country depends on its committed labor. In order to get the best out of a worker in the matter of reduction working conditions require to be improved to a greater extent to achieve the objective of maximization of utilization resources the workers should at least have the means and facilities to keep him in a state of health and efficiency.

The work place should provide reasonable amenities for the essential needs and worker should also be equipped with the necessary technical training and a certain level of education.

Labor welfare is broad term covering social security and such other activities as medical aid, crèche, canteens, recreation, and housing, adult education arrangements for the transport of labor to and from the place of workplace.

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(1.2) OBJECTIVES :

To understand & present the various welfare measures at Central Bank of India.

To find out how effectively existing welfare measures have been implemented.

To examine the satisfaction level of Employees regarding welfare measures provided by the Organization.

To identify the existing employ welfare facilities particularly,

Educational facilities

Medical facilities

Canteen facilities

Housing facilities and

Transport facilities.

To know and suggest improvements regarding the various welfare measures, programs and schemes taken up by the organization for the betterment of workers.

To analyze and suggest further improvement of existing welfare facilities in the organization.

(1.3) NEED FOR THE STUDY :

Welfare measures are measures, which promotes the physical, psychological well-being of the working population. Employees are recognizing the importance of labor welfare activities in India very recently, government, by other agencies.

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Encourage the employees.

Recruit and retain the best personnel to increase and improve employee morale.

Develop employees economically and socially.

Provide primary needs.

Motivate employees for increasing efficiency.

Creating the sense of social goods.

Increase productivity and to maintain good industrial human relations.

Improve the standards of living of workers, housing, minimum wages and other benefits are bound to create a feeling of satisfaction among the workers and are therefore more helpful in reducing the extent of labor turn over and absenteeism.

Provisions of good medical and working conditions, recreational, educational are bound to increase the mental efficiency and economic productivity of industrial workers.

(1.4) SCOPE OF STUDY :

The issues of welfare measures are related to overall development of workers both the physical and physiological being. Employee welfare programs create a sense of belonging and adequacy that benefits the organization in the long run.

Hence the major study includes scope of the study is related to the employee welfare measures, like Medical facilities, Educational facilities, Canteen facilities, Housing facilities and Transport facilities, the innovative programs by the government for the workers through the different mechanisms and how the welfare is implied in the organization to the employees and their families which ultimately benefit the organization in the long run.

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(1.5) RESEARCH METHODOLOGY :

Both the primary and secondary research was conducted during the study.

Sources for collection of data:

Primary Data: Primary data was collected by interviewing the employees through Questionnaire from various cadres of personnel to find out the opinions regarding labor welfare facilities; a Questionnaire is prepared so that they can express their views.

Secondary Data: Data collected from books, annual Reports of the organization are known as secondary data. Collection of other relevant information through secondary sources like

Internal records and Journals booklets.

Reports and the manuals of the company

(1.6) SAMPLING :

Sampling Techniques: A simple Random Technique was used in the research.

Size of the sample: A sample of 30 persons was chosen at random. It includes all cadres of employees.

(1.7) MEASUREMENT TECHNIQUE :

The questionnaire was used as primary data. A formalized questionnaire was prepared which contains dichotomous questions, open-ended questions and multiple-choice questions to collect the opinion of the employees. The data collected is represented in the form of tables, by using tools such as column and Pie charts. These details are analyzed, Interpreted and used for findings and suggestions

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(1.8) LIMITATIONS :

The time allotted for project is very less.

Fear to give negative answers.

Some employees due to their busy schedules did not give opinion.

As they are bound with rules and regulations of their bank, they are not able to reveal the facts.

7

CHAPTER-II

Concept

Principles

8

CONCEPT:

The subject matter related to Employees welfare and related terms have been

explained. The term labor welfare is flexible and elastic and differs widely with

time, regions, industry, country, social values and customs, degree of

industrialization, the general socioeconomic development of the people. It is

also molded according to the age, group, sex, socio-cultural background marital

status and economic status and educational level of the workers in industry.

Welfare measures are a three dimensional concept like total, social and relative.

The "total concept” of welfare is the achievement of a desirable state of

existence involving physical, mental and moral and emotional.

The "social concept" of welfare involves the well-being of an individual and

harmonious relationship he establishes with his primary group-his family, his

working group - his colleagues, superiors and subordinates.

The "relative concept" of welfare involves relative to time, place and person.

Need for Labour welfare:

The need for the labor welfare measures arises because of the nature of the

industrial system, which is characterized by two basic factors:

The conditions under which work is carried on are not congenial for health.

When a labor joins an industry, he has to work in an entirely strange

environment, which creates problems of adjustment.

9

According to labor investigation committee "The provision of canteens"

improves the physique.

"Entertainments" reduce the incidence of serious accidents

"Medical aid & Maternity and child welfare" services improve the health of

the workers and bring down the rates of general, maternal and infantile

mortality.

"Educational facilities increase their mental efficiency and economic

productivity".

CONSTITUTIONAL PROVISIONS:

Article 41: "The state shall, within the limits of its economic capacity

and development, make effective provision for securing the right to work,

to education and to public assistance in case of unemployment and in

other case of underserved want".

Article 42: "The state shall make provision for securing just and humane

conditions of work and for maternity relief"

Article 43: "The state shall endeavour to secure by suitable legislation

or economic organization or in any other way to all workers, agricultural,

industrial or otherwise work conditions of work ensuring a decent

standard of life and cultural opportunities and in particular, the state shall

endeavour to promoter cottage industries or co-operate basis in rural

areas.

Objectives of labour welfare measures are:

a) ECONOMIC: To increase their efficiency and effectiveness so that they

can perform better in different work situations; keep them contended and

reduce the chances of conflict.

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b) HUMANISTIC: To treat them as normal human beings by providing

basic facilities and amenities.

c) CIVIC: To develop a sense of responsibility dignity of labour and

participatory culture among them.

Principles of adequacy in welfare:

Principle of adequacy of welfare: -

Labour has a right to adequate wages. But high wages alone cannot create

healthy work environment. A combination of both - wages and welfare

measures would improve workers satisfaction, morale and motivation.

Principle of the social responsibility of industry: -Industry has an obligation or duty towards its employees to look after their

welfare. Labour welfare is highlighted as a state policy in the directive

principles of Indian constitution.

Principle of Efficiency:

Employees accept the responsibility for implementing such labour welfare

measures which they consider will increase their efficiency.

Principle of re-personalization: -

This principle emphasizes the development of human personality as the aim of

welfare measure. Necessary to implement Intra mural and extra mural welfare

services are implemented.

Principles of totality of welfare: -

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In this the necessity of labour welfare must be felt and convinced by all levels

of management. This requires reduction, retraining and re-orientation of

managers at all levels.

Principles of integration and co-ordination: -

The co-ordination approach is essential throughout the organization so that fall

benefit is derived out of welfare measures. This is through systems approach

where organization consists of subsystems integrated together as one whole

system.

Principles of participation: -

It highlights the democratic principles of mutual consultation example;

committees for canteens, sports etc.

Principles of responsibility:

Both employees and employee are responsibility for labour welfare. Trade

union leaders as the workers representatives must play a positive role they must

co-operate with management to provide essential welfare measures without

hampering the economic viability of the establishment. Examples are union

participation in committees like canteen committee of welfare measures.

Suitable

MIS can be installed success or this process can periodically evaluate failure,

accountability of failure can be fixed.

Principles of timeliness: -

Welfare measures must be provided in time and when needed most; untimely

assistance is not only wasteful but antagonizes the workers. This requires proper

planning and control.

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The other objectives of labour welfare:

To give expression to philanthropic and paternalistic feeling

To win over employees loyalty and increase their moral.

To combat trade unionism and socialistic ideas

To buildup stable labour force, to reduce labour turnover and absenteeism

To save oneself from heavy taxes on surplus profits

To earn goodwill and enhances public image

To make recruitment more effective

DEFINITION:

The term employee welfare, labour welfare or workers are related terms.

Employee welfare is defined as "The voluntary efforts of the employees to

establish within existing industrial system and sometimes living and cultural of

the employee beyond that which is required by low, the custom of the industry

and the conditions of the market.

The labour investigation committee has defined employee welfare as "anything

done for intellectual, physical, moral and economic betterment of the workers

whether by employees by government or by other agencies over and above what

is laid down by law or what is normally expected on the part of the contractual

benefit for which workers may have bargained.

International Labour Organization(ILO report refers to labour welfare as:

Such services, facilities and amenities as may be established in or in the vicinity

of understandings to enable the performs employed in them to perform their

work in healthy, congenial surroundings and provided with amenities conducive

to good health and high morale".

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Feature / characteristics of labour welfare: -

It is the work, which is usually undertaken within the premises or in the

vicinity of the undertaking for the benefit of the employee and the

members of his family.

The work generally includes those items of welfare, which are over and

above. What is provided by satisfactory provisions or required by the

custom of the industry or what the employee expects as a result of a

contract of service from the employees.

The purpose of providing welfare animates is to bring out the development

of the whole personality of the worker .his social, psychological, economic,

moral, cultural and intellectual development to make him a good worker, a

good citizen and a good member of the family.

These facilities may be provided voluntarily by progressive and

enlightened entrepreneurs of their own accord out of their realization of

social responsibility to labour or statutory provisions may complete them to

make these facilities available or there may be there may be the

government or trade unions may undertake them if they have the necessary

funds for the purpose.

Labour welfare is a very broad term covering social security activities as

medical aid, crèches, canteens, recreation, housing, adult education,

arrangements for the transport of labour to and from the work place.

It may be noted that not only intra-moral but also extra-moral, statutory as

well as non-statutory activities undertaken by any of the three agencies- for

the physical and mental development of a worker.

Welfare and Amenities with the precincts of the establishment:-

1. Latrines and urinals

2. Washing and bathing facilities

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3. Crèches

4. Rest shelters and canteens

5. Arrangements for drinking water

6. Health services including occupational safety

7. Arrangement for prevention of fatigue.

8. Administrative arrangements for the welfare of employee

9. Uniform and protective clothing

10.Shift allowance

Welfare outside the establishment: -

1. Maternity benefit

2. Social insurance measures (including gratuity, pension, provident fund

and rehabilitation)

3. Benevolent funds

4. Medical facilities (including programes for the physical fitness and

efficiency family planning and child welfare)

5. Education facilities

6. Housing facilities

7. Recreation facilities (including sports, cultural activities, library, reading

rooms)

8. Holiday homes and leave travel facilities

9. Workers co-operative including consumer’s co-operative stores fair price

shops and co-operative credit and thrift societies.

10.Vocational training for dependent of workers

11.Other programme for the welfare of women, youth and children

Classification: -

The classification of labour welfare is based on dividing industrial welfare into

3 categories, which are as follows:

Statutory

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Non statutory / voluntary

Mutual

Statutory: -

Statutory facilities to those provisions, which redressed from the concessive

power of government. The government exacts legislations regarding working

and laying conditions, minimum wages, safety and security such statutory

provisions are gradually increasing along with industrial development.

Voluntary: -

A voluntary facility refers to those activities, which are undertaken by

employees for their workers. They primarily oriented to democratic value

system. Such welfare activities can increase the efficiency of workers and

reduce the chance of conflict between the employees and employee.

Mutual: -

A mutual facility refers to those activities, which are initiated by workers for

their betterment in suitable manner. For instance unions undertake certain

welfare activities for social and economic betterment of their members.

Statutory provisions various acts: -

There are the amenities that are to be necessarily provided to the employees

under different legislations. The important legislations, which call for these

provisions, are.

1) The Factories Act, 1948

2) The Plantation Act, 1951

3) The Mines Act, 1952

4) The Motor Transport Act, 1961

5) The Contract Labour Regulation and Abortion] Act, 1970

The Factories Act, 1948: -

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This Act is applicable to premises including precincts where 10 or more

workers are employed with aid of power or where 20 or more workers are

employed without power. Welfare amenities provided are washing storing,

sitting, first aid facilities, canteens, shelters, creche, welfare officers and other

facilities.

The plantation Act 1952: -

The Act has provisions for creating canteens, recreation facilities, medical act,

housing facilities, protection amenities to workers like umbrellas, blankets,

raincoats etc.

The Miners Act 1952: -

This act has provisions for creating shelters, canteens, first aid boxes, pithead

bath, lavatories, lockers, welfare offices etc.

The Motor Transport Workers Act, 1961: -

The motor transport undertakings are required to make the following provisions

as canteens, clean & well very ventilated rest rooms, uniforms, rain coats,

washing allowances, medical facility etc.

The Contract Labour (Registration & Abolition) act 1970: -

The contractor has to provide the following welfare & health measures such as

canteens, washing facilities & first aid facilities, rest room etc.

Labour welfare officers: -

The labour officers act as the middlemen between the management & the

workers. The post of labour welfare officer instituted mainly to

Eliminate the evils & malpractices of the jobber system in the recruitment

of the labour.

To develop & improve labour administration.

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To serve as a liasion with the state commissioner.

Functions of labour welfare officer: -

Supervision

Counseling workers

Advising management in some matters

Establishing liasion with workers

Establishing liasion with management

Working to maintain harmonious industrial relations in the organization

To improve productivity & produce effectively of the organization

Many activities are there in labour welfare system but few major areas are

selected for the study as follows:

1) Education facilities

2) Medical facilities

3) Canteen facilities

4) Transport facilities

5) Loan facilities

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CHAPTER-III

INDUSTRY PROFILE

THE COMPANY PROFILE

INTRODUCTION:

Banking in India originated in the last decades of the 18th century. The first

19

banks were The General Bank of India, which started in 1786, and Bank of

Hindustan, which started in 1790; both are now defunct. The oldest bank in

existence in India is the State Bank of India, which originated in the Bank of

Calcutta in June 1806, which almost immediately became the Bank of Bengal.

This was one of the three presidency banks, the other two being the Bank of

Bombay and the Bank of Madras, all three of which were established under

charters from the British East India Company. For many years the Presidency

banks acted as quasi-central banks, as did their successors. The three banks

merged in 1921 to form the Imperial Bank of India, which, upon India's

independence, became the State Bank of India in 1955.

History:

Indian merchants in [Calcutta] established the Union Bank in 1839, but it failed

in 1848 as a consequence of the economic crisis of 1848-49. The Allahabad

Bank, established in 1865 and still functioning today, is the oldest Joint Stock

bank in India.(Joint Stock Bank: A company that issues stock and requires

shareholders to be held liable for the company's debt) It was not the first though.

That honor belongs to the Bank of Upper India, which was established in 1863,

and which survived until 1913, when it failed, with some of its assets and

liabilities being transferred to the Alliance Bank of Simla.

Foreign banks too started to app, particularly in Calcutta, in the 1860s.

The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and

another in Bombay in 1862; branches in Madras and Pondicherry, then a French

colony, followed. HSBC established itself in Bengal in 1869. Calcutta was the

most active trading port in India, mainly due to the trade of the British Empire,

and so became a banking center.

The first entirely Indian joint stock bank was the Oudh Commercial Bank,

established in 1881 in Faizabad It failed in 1958. The next was the Punjab

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National Bank, established in Lahore in 1895, which has survived to the present

and is now one of the largest banks in India.

Around the turn of the 20th Century, the Indian economy was passing through a

relative period of stability. Around five decades had elapsed since the Indian

Mutiny, and the social, industrial and other infrastructure had improved. Indians

had established small banks, most of which served particular ethnic and

religious communities.

The presidency banks dominated banking in India but there were also some

exchange banks and a number of Indian joint stock banks. All these banks

operated in different segments of the economy. The exchange banks, mostly

owned by Europeans, concentrated on financing foreign trade. Indian joint stock

banks were generally undercapitalized and lacked the experience and maturity

to compete with the presidency and exchange banks. This segmentation let Lord

Curzon to observe, "In respect of banking it seems we are behind the times. We

are like some old fashioned sailing ship, divided by solid wooden bulkheads

into separate and cumbersome compartments."

The period between 1906 and 1911, saw the establishment of banks inspired by

the Swadeshi movement. The Swadeshi movement inspired local businessmen

and political figures to found banks of and for the Indian community. A number

of banks established then have survived to the present such as Bank of

India, Corporation Bank, Indian Bank, Bank of Baroda, Canara

Bank and Central Bank of India.

The fervour of Swadeshi movement lead to establishing of many private banks

in Dakshina Kannada and Udupi district which were unified earlier and known

by the name South Canara ( South Kanara ) district. Four nationalised banks

started in this district and also a leading private sector bank. Hence undivided

Dakshina Kannada district is known as "Cradle of Indian Banking".

During the First World War (1914–1918) through the end of the Second World

War (1939–1945), and two years thereafter until the independence of India were

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challenging for Indian banking. The years of the First World War were

turbulent, and it took its toll with banks simply collapsing despite the  Indian

economy gaining indirect boost due to war-related economic activities. At least

94 banks in India failed between 1913 and 1918 as indicated in the following

table:

YearsNumber of banks

that failed

Authorised capital

(Rs. Lakhs)

Paid-up Capital

(Rs. Lakhs)

1913 12 274 35

1914 42 710 109

1915 11 56 5

1916 13 231 4

1917 9 76 25

1918 7 209 1

Post-Independence:

The partition of India in 1947 adversely impacted the economies

of Punjab and West Bengal, paralyzing banking activities for months.

India's independence marked the end of a regime of the Laissez-faire for the

Indian banking. The Government of India initiated measures to play an active

role in the economic life of the nation, and the Industrial Policy Resolution

adopted by the government in 1948 envisaged a mixed economy. This resulted

into greater involvement of the state in different segments of the economy

including banking and finance. The major steps to regulate banking included:

The Reserve Bank of India, India's central banking authority, was established in

April 1934, but was nationalized on January 1, 1949 under the terms of the

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Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b).

In 1949, the Banking Regulation Act was enacted which empowered the

Reserve Bank of India (RBI) "to regulate, control, and inspect the banks in

India".

The Banking Regulation Act also provided that no new bank or branch of an

existing bank could be opened without a license from the SBI, and no two banks

could have common directors.

Nationalization:

Banks Nationalization in India: Newspaper Clipping, Times of India, July 20,

1969

Despite the provisions, control and regulations of Reserve Bank of India, banks

in India except the State Bank of India or SBI, continued to be owned and

operated by private persons. By the 1960s, the Indian banking industry had

become an important tool to facilitate the development of the Indian economy.

At the same time, it had emerged as a large employer, and a debate had ensued

about the nationalization of the banking industry. Indira Gandhi, then Prime

Minister of India, expressed the intention of the Government of India in the

annual conference of the All India Congress Meeting in a paper entitled  "Stray

thoughts on Bank Nationalization. The meeting received the paper with

enthusiasm.

Thereafter, her move was swift and sudden. The Government of India issued an

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ordinance ('Banking Companies (Acquisition and Transfer of Undertakings)

Ordinance, 1969')) and nationalised the 14 largest commercial banks with effect

from the midnight of July 19, 1969. These banks contained 85 percent of bank

deposits in the country Jayaprakash Narayan, a national leader of India,

described the step as a "masterstroke of political sagacity." Within two weeks of

the issue of the ordinance, the Parliament passed the Banking Companies

(Acquisition and Transfer of Undertaking) Bill, and it received

the presidential approval on 9 August 1969.

A second dose of nationalization of 6 more commercial banks followed in 1980.

The stated reason for the nationalization was to give the government more

control of credit delivery. With the second dose of nationalization, the

Government of India controlled around 91% of the banking business of India.

Later on, in the year 1993, the government merged New Bank of

India with Punjab National Bank. It was the only merger between nationalized

banks and resulted in the reduction of the number of nationalised banks from 20

to 19. After this, until the 1990s, the nationalised banks grew at a pace of

around 4%, closer to the average growth rate of the Indian economy.

Liberalization:

In the early 1990s, the then Narasimha Rao government embarked on a policy

of liberalization, licensing a small number of private banks. These came to be

known as New Generation tech-savvy banks, and included Global Trust Bank

(the first of such new generation banks to be set up), which later amalgamated

with Oriental Bank of Commerce, Axis Bank(earlier as UTI Bank), ICICI

Bankand HDFC Bank. This move, along with the rapid growth in the economy

of India, revitalized the banking sector in India, which has seen rapid growth

with strong contribution from all the three sectors of banks, namely,

government banks, private banks and foreign banks.

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The next stage for the Indian banking has been set up with the proposed

relaxation in the norms for Foreign Direct Investment, where all Foreign

Investors in banks may be given voting rights which could exceed the present

cap of 10%,at present it has gone up to 74% with some restrictions.

The new policy shook the Banking sector in India completely. Bankers, till this

time, were used to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go home at 4)

of functioning. The new wave ushered in a modern outlook and tech-savvy

methods of working for traditional banks. All this led to the retail boom in

India. People not just demanded more from their banks but also received more.

Currently (2010), banking in India is generally fairly mature in terms of supply,

product range and reach-even though reach in rural India still remains a

challenge for the private sector and foreign banks. In terms of quality of assets

and capital adequacy, Indian banks are considered to have clean, strong and

transparent balance sheets relative to other banks in comparable economies in

its region. The Reserve Bank of India is an autonomous body, with minimal

pressure from the government. The stated policy of the Bank on the Indian

Rupee is to manage volatility but without any fixed exchange rate-and this has

mostly been true.

With the growth in the Indian economy expected to be strong for quite some

time-especially in its services sector-the demand for banking services,

especially retail banking, mortgages and investment services are expected to be

strong. One may also expect M&As, takeovers, and asset sales.

In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase

its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the

first time an investor has been allowed to hold more than 5% in a private sector

bank since the RBI announced norms in 2005 that any stake exceeding 5% in

the private sector banks would need to be vetted by them.

In recent years critics have charged that the non-government owned banks are

too aggressive in their loan recovery efforts in connection with housing, vehicle

25

and personal loans. There are press reports that the banks' loan recovery efforts

have driven defaulting borrowers to suicide.

Adoption of banking technology:

The IT revolution had a great impact in the Indian banking system. The use of

computers had led to introduction of online banking in India. The use of the

modern innovation and computerisation of the banking sector of India has

increased many folds after the economic liberalisation of 1991 as the country's

banking sector has been exposed to the world's market. The Indian banks were

finding it difficult to compete with the international banks in terms of the

customer service without the use of the information technology and computers.

Number of branche of scheduled banks of India as of March 2005

The RBI in 1984 formed Committee on Mechanisation in the Banking Industry

(1984) whose chairman was Dr C Rangarajan, Deputy Governor, Reserve Bank

of India. The major recommendation of this committee was introducing

MICR Technology in all the banks in the metropolis in India.This provided use

of standardized cheque forms and encoders.

In 1988, the RBI set up Committee on Computerisation in Banks (1988)  headed

by Dr. C.R. Rangarajan which emphasized that settlement operation must be

computerized in the clearing houses of RBI in Bhubaneshwar, Guwahati, Jaipur,

Patna and Thiruvananthapuram.It further stated that there should be National

Clearing of inter-city cheques at Kolkata,Mumbai,Delhi,Chennai and MICR

26

should be made Operational.It also focused on computerisation of branches and

increasing connectivity among branches through computers.It also suggested

modalities for implementing on-line banking.The committee submitted its

reports in 1989 and computerisation began form 1993 with the settlement

between IBA and bank employees' association.

In 1994, Committee on Technology Issues relating to Payments System, Cheque

Clearing and Securities Settlement in the Banking Industry (1994) was set up

with chairman Shri WS Saraf, Executive Director, Reserve Bank of India. It

emphasized on Electronic Funds Transfer (EFT) system, with the BANKNET

communications network as its carrier. It also said that MICR clearing should

be set up in all branches of all banks with more than 100 branches.

Committee for proposing Legislation on Electronic Funds Transfer and other

Electronic Payments (1995) emphasized on EFT system. Electronic banking

refers to DOING BANKING by using technologies like computers, internet and

networking,MICR,EFT so as to increase efficiency, quick service,productivity

and transparency in the transaction.

Number of ATMs of different Scheduled Commercial Banks Of India as on end

March 2005

Apart from the above mentioned innovations the banks have been selling the

third party products like Mutual Funds, insurances to its clients.Total numbers

of ATMs installed in India by various banks as on end March 2005 is

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17,642.The New Private Sector Banks in India is having the largest numbers of

ATMs which is fol off site ATM is highest for the SBI and its subsidiaries and

then it is followed by New Private Banks, Nationalised banks and Foreign

banks. While on site is highest for the Nationalised banks of India.

BANK GROUPNUMBER OF

BRANCHES

ON SITE

ATM

OFF SITE

ATM

TOTAL

ATM

NATIONALISED

BANKS33627 3205 1567 4772

STATE BANK OF

INDIA13661 1548 3672 5220

OLD PRIVATE SECTOR

BANKS4511 800 441 1241

NEW PRIVATE

SECTOR BANKS1685 1883 3729 5612

FOREIGN BANKS 242 218 579 797

HDFC Bank

Introduction:

HDFC Bank was incorporated in 1994 by Housing Development Finance

Corporation Limited (HDFC), India's largest housing finance company. It was

28

among the first companies to receive an 'in principle' approval from the Reserve

bank of India (RBI) to set up a bank in the private sector. The Bank started

operations as a scheduled commercial bank in January 1995 under the RBI's

liberalisation policies.

Times Bank Limited (owned by Bennett, Coleman & Co. / Times Group) was

merged with HDFC Bank Ltd., in 2000. This was the first merger of two private

banks in India. Shareholders of Times Bank received 1 share of HDFC Bank for

every 5.75 shares of Times Bank.

In 2008 HDFC Bank acquired Centurion Bank of Punjab taking its total

branches to more than 1,000. The amalgamated bank emerged with a base of

about Rs. 1,22,000 crore and net advances of about Rs.89,000 crore. The

balance sheet size of the combined entity is more than Rs. 1,63,000 crore.

Business focus

HDFC Bank deals with three key business segments. - Wholesale Banking

Services, Retail Banking Services, Treasury. It has entered the banking

consortia of over 50 corporates for providing Working Capital finance, trade

services, Corporate finance and merchant Banking. It is also providing

sophisticated product structures in areas of foreign exchange and derivatives,

money markets and debt trading and equity research. HDFC is very good bank.

Wholesale banking services

Blue-chip manufacturing companies in the Indian corp to small & mid-sized

corporates and agri-based businesses. For these customers, the Bank provides a

wide range of commercial and transactional banking services, including

working capital finance, trade services, transactional services, cash

management, etc. The bank is also a leading provider of the above services to its

corporate customers, mutual funds, stock exchange members and banks.

Retail banking services:

HDFC Bank was the first bank in India to launch an International Debit Card in

29

association with VISA (Visa electron) and issues the MasterCard Maestro debit

card as well. The Bank launched its credit card business in late 2001. By March

2009, the bank had a total card base (debit and credit cards) of over 13 million.

The Bank is also one of the leading players in the “merchant acquiring”

business with over 70,000 Point-of-sale (POS) terminals for debit / credit cards

acceptance at merchant establishments. The Bank is positioned in various net

based B2C opportunities including a wide range of internet banking services for

Fixed Deposits, Loans, Bill Payments, etc. With Finest of Technology and Best

of Man power in Banking Industry HDFC BANK's retail services have become

by and large the best in India and since the contribution to CASA i,e total

number of current and savings account of more than 50% ,HDFC BANK has

full potential to become India’s No.1 Private Sector Bank.

Treasury

Within this business, the bank has three main product areas - Foreign Exchange

and Derivatives, Local Currency Money Market & Debt Securities, and

Equities. These services are provided through the bank's Treasury team. To

comply with statutory reserve requirements, the bank is required to hold 25% of

its deposits in government securities. The Treasury business is responsible for

managing the returns and market risk on this investment portfolio.

Distribution network

An HDFC Bank Branch

HDFC Bank is headquartered in Mumbai and has a As of March 31, 2012, the

30

Bank’s distribution network was at 2,544 branches and 8,913 ATMs in 1,399

cities as against 1,986 branches and 5,471 ATMs in 996 cities as of March 31,

2011.

HDFC Bank Limited (BSE: 500180, NSE: HDFCBANK, NYSE: HDB) is an

Indian financial services company that was incorporated in August 1994. HDFC

Bank is the fifth or sixth largest bank in India by assets and the second largest

bank by market capitalization as of February 24, 2012. The bank was promoted

by the Housing Development Finance Corporation, a premier housing finance

company (set up in 1977) of India. HDFC Bank has 1,986 branches and over

5,471 ATMs, in 996 cities in India, and all branches of the bank are linked on

an online real-time basis. As of 30 September 2008 the bank had total assets of

Rs.1006.82 billion. For the fiscal year 2010-11, the bank has reported net profit

of  3,926.30 crore (US$783.3 million), up 33.1% from the previous fiscal. Total

annual earnings of the bank increased by 20.37% reaching at 

24,263.4 crore (US$4.84 billion) in 2010-11. HDFC Bank is one of the Big

Four banks of India, along with: State Bank of India, ICICI Bank and Punjab

National Bank.

Employee Welfare Measures in HDFC

Employee means any workman, male/female, employed in the company/

company’s premises or company’s branches whose names is entered in the rolls

of the company & who is a workman as defined under section 2(s) of the

Industrial Disputes Act 1947, but does not include for the purpose of these rules

contractors/contractor’s workmen.

Employee Welfare is defined as “The voluntary efforts of the employees to

31

establish within the existing industrial system, and sometimes living & cultural

conditions of the employees beyond that which is required by law, the custom

of the industry & the conditions of the market”.

The chief characteristic of Central Bank of India is to provide adequate welfare

& motivation to employees to make them feel a sense of involvement,

commitment & loyalty towards it. It is an accepted fact that an employee whose

primary & social needs are squarely met by the organizations will work with

more zeal and enthusiasm towards achieving the organizational goals.

The concept of providing welfare and motivation to staff members matching

with the growing aspiration of staff has remained as one of the corporate

objectives of central bank.

Employee Welfare Measures:

Reimbursement of college fees for children of the staff members.

The objective of the scheme is to provide a limited amount of financial

incentive and support to staff members and to encourage them to allow their

talented children to go in for college education. The scheme covers

reimbursement of college fees of two dependent children of staff members

(including permanent part time sub-staff drawing scale wages of 1/3rd and

above). For the purpose of reimbursement under this scheme the family is taken

as one unit.

Relief to family employees who die in harness.

The object of the scheme is to provide immediate financial relief to the family

of any employee who dies in harness. The scheme also aims at bridging partly

the time gap between the death of the employee and receipt of provident fund

and gratuity dues by his or her family and partly the need gap by supplementing

32

family income.

Reimbursement of additional Medical expenses to employees/depends

suffering from illness leading to Hospitalization and /or domiciliary

treatment.

The objective of this scheme is to provide reimbursement of medical

expenses to certain extent to employees/dependent, family members either

home or hospital over and above the amount sanctioned under the

hospitalization scheme of Bipartite / OSR.

Hospitalization scheme for Permanent Part-Time Safai Karmacharis (PTSK):

The objective of this scheme is to provide financial assistance in the form of

reimbursement of Hospitalization expenses incurred by Permanent Part-Time

Safai Karmacharis (PTSK).

Reimbursement of expenses for health check-up for employee or his/her

spouse/dependent parents who are above 40 years of age.

The objective of this scheme is to enable them to take preventive steps at the

right time so that the staff and the bank may avoid incurring huge

hospitalization expenses at a later date besides endangering their lives.

Medical assistance scheme to retired employees

Reimbursement of Medical aid to retired employees

The objective of this scheme is aimed at strengthening the continued bondage

between the bank and the employees even after their retirement especially in

wake of introduction of pension scheme in the bank. This would enable the

bank to get the assistance of such retired staff for bank building activities.

33

Reimbursement of hospitalization expenses for diseases specified in the bipartite

/ OSR for retired employees.The objective of this scheme is to provide the

assistance in the form of reimbursement of hospitalization expenses incurred by

the retired employee (who has joined this scheme) for himself and/or his

spouse, under the SWS-Medical assistance Scheme to retired employees.

Transit homes at Mumbai, Chennai, Calcutta and New Delhi for the staff

members and their family members.

In furtherance of the welfare of staff, bank to start with, has established Transit

home/Accommodation at New Delhi, Mumbai, and Calcutta & Chennai for the

purpose of stay by the staff members/dependents, who are coming for Medical

treatment thereat. The allotment should be given based on the “First Come First

serve” and there shall be a common list for all categories of employees

irrespective of their cadre.

Tie-up arrangement in reputed hospitals for reservation of beds / credit tie up

arrangement.

The facility should be available to all staff members and their family members

who are eligible for reimbursement of hospitalization expenses under bipartite

settlement/officers’ service regulations. In furtherance of the welfare of the

staff, a scheme for tie-up arrangement with reputed hospital, viz. Madras

Medical Mission for treatment of Cardio-Vascular diseases for all the staff

members and their dependents has been introduced.

Reward to the children of employees of the Bank who pass SSC and higher

secondary examination Meritoriously.

The objective of the scheme is, this scheme was introduced with a view to

promote and encourage the spirit of competition among the children of

employees to pass SSC/HSC examination with higher percentage of marks.

34

Establishment of holiday homes.

The objective is rest and recreation is invaluable for an employee. Besides

enabling the employees to spend quality time with his family, it also helps him

to refresh himself and re-channels his energies. The Bank has, therefore, started

holiday homes at various places for its employees at concessional tariffs. The

facility of holiday home can be availed by all the employees of Bank and it has

also been extended to retired employees of the bank as a gesture of good will

subject to availability of suites at the time of booking after priority to the

existing employees.

Reimbursement of tuition fees/cost of text books/cost of uniform for school

education to two children of the sub ordinate staff and reimbursement of

school tuition fees/cost of textbooks to two children of other staff members.

The objective of the scheme is to provide a limited amount of financial

incentive and support to staff member. The scheme covers reimbursement of

tuition fees/cost of text books/cost of uniforms for school education of two

dependent children of the sub ordinate staff (including permanent part time sub

staff drawing scale wages 1/3rd and above) and reimbursement of school tuition

fees/cost of textbooks to two children of other staff members.

Reimbursement of cost of vaccination for Hepatitis ‘B’ once in five years in

respect of self & members of the family of the staff members.

The objective is, as a part of the welfare of the employee and their dependents, a

scheme has been devised, whereby the reimbursement of the cost of vaccination

for Hepatitis ‘B’ will be allowed to self and for family members of the staff

once in five years, so as to enable them to take preventive steps at the right time,

before the total disease strikes.

35

Canteen expenses/subsidy:

The existing rate structure of canteen subsidy stands reviewed to Rs.50/- per

employee per month and stands extended to all branches/offices irrespective of

number of employees working thereat.

36

CHAPTER-IV

Data Analysis

Interpretation and Findings

1) Title: Working atmosphere

When the respondents are enquired about the working atmosphere, the views

are based on the age of the respondents, the following responses are observed.

Age

37

Work

Atmosphere

Below 25 25 – 35 35 – 45 Above 45 Total

Excellent 0% 3% 7% 10% 20%

Good 0% 10% 37% 30% 77%

Average 0% 0% 3% 0% 3%

Poor 0% 0% 0% 0% 0%

Total 0% 13% 47% 40% 100%

Inference: When respondents a asked about the working atmosphere and they

are viewed based on the age, most of the respondents agreed that they are

provided with good working atmosphere and some of the respondents agreed

that they are provided with the excellent working atmosphere.

Interpretation: 77% of the respondents of all age groups agreed that the

working condition is good while 20% of all the age groups agreed that the

working atmosphere is excellent where as 47% of the respondents of the age

between 35 – 45 and above 45 agreed that the working atmosphere is good and

only 13% of the respondents of the age below 35 agreed as good, as they

38

compared with the facilities provided by private bank and hence the respondent

showing poor is nil.

2) Title: Number of Employees aware of Facilities

When Respondents were asked to give their views pertaining to awareness of various

Facilities, following responses were observed.

Awareness of facilities Yes No

No of Employees 22 8

% Of Employees 73% 27%

Inference: When Respondents were asked to give their views pertaining to

awareness of various facilities, most of sample respondents agreed that they are

aware of various facilities.

Interpretation: 73% of the sample respondents felt that they are aware of

various Facilities; whereas 27% of the respondents are not aware of these

facilities.

39

3) Title: Awareness of various Facilities

When the respondents were enquired about the various facilities they were

aware of, the following responses were observed.

a) Educational Facilities b) Medical Facilities

c) Housing Facilities d) Canteen Facilities e) All

facilities

Inference: when respondents were asked to know the facilities they are aware

of, it is concluded that most of the respondents are aware of all the Facilities

provided by the bank.

Facilities No of Respondents % Of Respondents

A, b & c 2 9%

A, b, c & d 5 23%

B, c & d 3 14%

A & d 2 9%

Only e 10 45%

40

Interpretation: 45% of the respondents are aware of all the facilities provided

by the organization where as 23% of the respondents are aware of Educational

facilities, Medical facilities, Housing facilities & Canteen facilities while 14%

of the respondents are aware of Medical facilities, Housing facilities & Canteen

facilities and 9% of respondents are aware of Educational facilities, Medical

facilities, Housing facilities & Canteen facilities.

4) Title: Welfare measures for the betterment of the organization.

When respondents were asked to rank whether the employee welfare measures

work for the betterment of the organization.

Inference: When respondents are asked to rank, how these employee welfare

measures work for the betterment of the organization, most of the respondents

ranked to achieve only tangible and temporary benefits and to build up human

assets & employee loyalty to achieve the long-term goals.

Interpretation: 60% of the respondents ranked, to achieve only tangible

Ranks

Views1 2 3 4 5

a) To improve efficiency of the

employees33% 43% 20% 4% 0%

b) To build up the organization 0% 14% 43% 23% 20%

c) To achieve only tangible and

temporary benefits4% 7% 10% 20% 60%

d) To retain skilled employees 4% 23% 10% 43% 20%

e) To build up human assets

and employee loyalty to

achieve the long-term goals

60% 13% 17% 10% 0%

41

benefits and temporary benefits and to built up human assets & employee

loyalty to achieve the long term goals, while 43% of the respondents ranked, to

improve efficiency of employees, to build up the organization and to retain

skilled employees.

5) Title: Motivation of Employee through Employee Welfare Measures

When sample respondents were enquired whether these employee welfare

measures help the organization to motivate its employee so that these valuable

human resources can be effectively utilized for improving the performance of

the organization, the following responses were observed.

S NO VIEW % OF RESPONDENTS

1 True 73%

2 True to some extent 20%

3 Not possible at all 7%

4 Not possible without employee will to excel 0%

42

Inference: When respondents were asked to give their opinion regarding the

employee welfare measures, most of the respondents are accepting that these

employee welfare measures help the organization to motivate its employee so

that these valuable human resources can be effectively utilized for improving

the performance of the organization, while some of the respondents are

accepting to some extent.

Interpretation: 73% of the respondents felt that it is True i.e. these employee

welfare measures help the organization to motivate its employee so that these

valuable human resources can be effectively utilized for improving the

performance of the organization, where as 20% of the sample felt that it is true

to some extent and 7% of the sample respondents are felt as Not possible at all.

43

6) Title: Employee Satisfaction on Employee Welfare Measures

When respondents were enquired on the Satisfaction level of Employee Welfare Measures,

the following responses are observed.

Schemes Satisfied

Satisfied to

Some extent

Cannot

say

Dissatisfied to

some extent

Totally

Dissatisfied

Loan Facilities 90% 10% 0% 0% 0%

Medical Benefits 37% 57% 0% 3% 3%

Other Benefits 50% 33% 7% 0% 10%

General Facilities 43% 43% 7% 7% 0%

44

Inference: When Respondents were enquired about the satisfaction level, most

of the respondents are fully satisfied with the loan Facilities, some of the

respondents are satisfied to some extent, while some of the respondents are

satisfied with the Medical facilities.

Interpretation: 90% of the respondents are satisfied with the loan facilities,

where as 57% of the respondents are satisfied to some extent with the Medical

Facilities, 7% of respondents are dissatisfied to some extent with the General

Facilities and 10% of the respondents are totally dissatisfied with the other

benefits.

45

7) Title: Sense of Security

When respondents are enquired that whether these welfare measures provide

sense of security, the following responses were observed.

Inference: Most of the respondents viewed that these Employee Welfare

Measures provides the sense of Security.

Interpretation: 80% of the respondents agreed that these Employee Welfare

Measures provide the sense of security, while 20% of the respondents agreed

that these measures provide the Sense of Security.

S NO VIEW % OF RESPONDENTS1 Yes 80%2 May Be 20%3 No 0%

46

8) Title: Educational Facilities

When respondents were enquired about the Satisfaction level on the Educational

Allowance for Children and for Self-Education, the following responses are observed.

Educational Allowance

Satisfied Satisfied toSome extent

Cannot sayDissatisfied

toSome extent

Dissatisfied to

Some extentTotally

DissatisfiedFor children 33% 37% 7% 13% 13% 10%

For self education

27% 40% 10% 10% 10% 13%

Inference: Most of the respondents are viewed that, the Educational allowance

provided for Children Education and for Self Education are satisfied to some extent.

Interpretation: 37% of the respondents are satisfied with some extent and 33%

of the respondents are satisfied with the educational allowance provided for

children where as 40% of the respondents are satisfied to some extent and 27%

of the respondents are satisfied with the educational allowance provided for

self-education.

9) Title: Educational loans provided by Bank

47

When Respondents are enquired about the Bank loans provided for various Educational facilities, the following responses are observed.

Educational loans Yes May be No

Educational leave for self 30% 33% 37%

For self education 60% 23% 17%

Loan for dependents 80% 7% 13%

Inference: when respondents are enquired about the Educational facilities

provided by bank, most of the respondents viewed that they are provided with

the Loan for Self Education and Loan for dependents and some of the

respondents viewed that they may be provided with the educational leave for

self.

Interpretation: 80% of the respondents agreed that they are provided with the

loan for dependents, 60% for Self, 30% for Educational leave for Self and 33%

of the respondents agreed that they may be provided with the Educational leave

for self, 23% and 7% for Self Education for dependents.

10) Title: Medical Assistance Schemes

Medical FacilitiesSatisfied

Satisfied to Some Extent

Cannot Say

Dissatisfied to some extent

TotallyDissatisfied

48

a) Medical aid as a lump sum amount

3% 54% 3% 10% 3%

b) Hospitalization Expenses for self

47% 50% 3% 0% 0%

c) Hospitalization Expenses for dependents

33% 57% 7% 3% 0%

d) Medi-Claim insurance card for self

3% 7% 30% 27% 33%

e) Medi-Claim insurance card for Dependents

3% 10% 27% 33% 27%

f) Transit homes for other places while in Medical treatment

27% 50% 13% 3% 7%

g) Medical aid on Retirement

20% 30% 24% 13% 13%

h) Hospitalization Expenses for self after Retirement

23% 23% 27% 17% 10%

When the sample respondents were enquired about the Medical Assistance

schemes provided by Bank, the following responses are observed.

49

Inference: Most of the respondents are satisfied to some extent with the

Hospitalization expenses for self and for dependents, Medical aid, and Transit

Homes, while some of the respondents are satisfied with the Medical aid on

Retirement and hospitalization expenses for self after Retirement, while some

dissatisfied with the Medi-claim insurance card for self and for dependents.

Interpretation: 57% of the respondents are satisfied to some extent with the

Hospitalization expenses for dependents, 50% with the Hospitalization expenses

for self, 54% with the Medical aid, 50% with the Transit home and 30% with

the Medical aid on retirement, where as 23% of the respondents are satisfied

with the Hospitalization expenses for self after Retirement, while 33% of the

respondents are totally dissatisfied with the Medi-claim.

50

11) Title: Medical Risk for his/her family is covered by bank.

When the sample respondents were enquired whether Medical risk for his/her

family based on Dependents is covered with the available facilities, the

following responses are observed.

DependentsMedical Risk

NIL 1-2 3-4 Above 4 Total

YES 0% 20% 34% 0% 54%NO 3% 20% 20% 3% 46%

TOTAL 3% 40% 54% 3% 100%

Inference: when the respondents are asked about the medical risk of his/her

family based on dependents, Most of the respondents agreed that medical risk is

covered with the available facilities provided by Bank.

Interpretation: 54% of the respondents agreed that the medical risk for his/her

family is covered with the available facilities where 34% of the respondents are

having dependents between 3 – 4 and 20% of the respondents are having 1 – 2

dependents, while 46% of the respondents are not agreed with this where 20%

of the respondents are having 1 – 2 and 3 – 4 dependents.

51

12) Title: Housing Facilities

When the respondents were enquired to give their views regarding the Housing Facilities

provided by Bank, following are responses.

Housing facilities SatisfiedSatisfied toSome extent

Cannot say

Dissatisfied toSome extent

TotallyDissatisfied

a) Payment of HRA 43% 47% 3% 7% 0%

b) Housing Loans 80% 17% 0% 30% 0%c) Providing bank Quarters 13% 11% 10% 23% 37%

d) ReimbursementOf rent 44% 30% 6% 10% 10%

Inference: Most of the respondents are satisfied with the Housing loans for

construction of houses, Reimbursement of Rent and some of the respondents are

satisfied to some extent with the Payment of HRA, some of the respondents

totally dissatisfied with the providing bank quarters.

Interpretation: 80% of the respondents are satisfied with the Housing loans for

construction of houses, 44% with Reimbursement of rent and 47% of the

respondents are satisfied to some extent with the Payment of HRA.

52

13) Title: Satisfaction level on Benefits Provided by Bank

When the respondents were enquired about the satisfaction level of the Benefits provided by

bank, the following responses were observed.

S NO VIEW % OF THE RESPONDENTS

1 Satisfied 40%

2 Satisfied to some extent 50%

3 Cannot say 0%

4 Not satisfied 10%

5 Dissatisfied to some extent 0%

Inference: When the respondents are enquired about the satisfaction level of

benefits, Most of the respondents are satisfied to some extent and some of the

respondents are satisfied with the benefits provided by Bank.

Interpretation: 50% of the respondents are satisfied to some extent with the

benefits provided by bank where as 40% of the respondents are satisfied with

the benefits and 10% of the respondents are not satisfied with the benefits

provided by bank.

53

14) Title: Transport Facilities

When the respondents were asked about that the transport facilities and the

satisfaction level on Conveyance allowance provided by Bank the following

responses were observed

Inference: Most of the respondents are satisfied with the Transport facility and

the Conveyance allowance, while same number of respondents is satisfied to

some extent and not satisfied with the Conveyance allowance provided by Bank

for the purpose of transport.

Interpretation: 63% of the respondents are satisfied with the Conveyance

S NO VIEW % OF RESPONDENTS1 Satisfied 63%2 Satisfied to some extent 17%3 Cannot say 0%4 Not satisfied 17%5 Dissatisfied to some extent 3%

54

allowance while 17% of the respondents are satisfied to some extent and not

satisfied with the transport facility and Conveyance allowance provided by

Bank.

15) Title: Canteen Facilities

When respondents were enquired about their views pertaining to canteen

facilities, the following responses are observed.

Inference: When the respondents were asked to give their views pertaining to

canteen facilities, most of the sample respondents agreed that the canteen

facilities are average and some of the respondents agreed that the canteen

facilities are good.

Interpretation: 60% of the respondents agreed that the canteen facilities were

average and 30% of the respondents agreed that canteen facilities were good

and 3% of the respondents agree that the canteen facilities are excellent.

S NO VIEW % OF RESPONDENTS

1 Excellent 3%

2 Good 30%

3 Average 60%

4 Not Good 7%

55

16) Title: General facilities

When the sample respondents were asked to give their views regarding the

general facilities like drinking water, First aid box etc, the following are the

responses observed.

Inference: when the sample respondents are asked about the views pertaining

to general facilities like drinking water and first aid box, most of the

respondents agreed that they are satisfied with the general facilities.

Interpretation: 90% of sample agreed that they are provided with satisfied

general facilities like, drinking water, First aid box where as 10% of the sample

are not satisfied with the general facilities.

S NO VIEW % OF RESPONDENTS

1 YES 90%

2 NO 10%

56

17) Title: Welfare and Social Measures conveyed by the management.

When the respondents are enquired about the welfare and social measures

conveyed by the management, the following responses are observed.

Inference: When respondents were asked about the views pertaining to the

Welfare and Social Measures conveyed by the management, most of the

respondents agreed that the Welfare and Social Measures conveyed by the

management are to the great extent.

Interpretation: 77% of the respondents agreed that the Welfare and Social

Measures conveyed by the management are to the great extent, while 23% of

the respondents are agreed that these Welfare and Measures conveyed by the

management.

S NO VIEW % OF RESPONDENTS1 Great Extent 0%2 Satisfactory 77%3 Limited Extent 23%

57

18) Title: Effectiveness of Welfare Measures

When the sample respondents are enquired about the views pertaining to the Effectiveness of

Welfare measures, the following responses are observed.

S NO VIEW % OF RESPONDENTS

1 Sufficient 80%

2 Fully Effective 7%

3 Hardly 13%

Inference: when the sample respondents are asked about the views pertaining

to the Effectiveness of welfare measures, most of the respondents viewed that

the effectiveness welfare measures are Sufficient and some of the respondents

viewed as Hardly.

Interpretation: 80% of the sample respondents were agreed that the

Effectiveness of Welfare Measures were Sufficient, where as 13% of the

respondents agreed that the Effectiveness of Welfare Measures were hardly,

while 7% of the respondents agreed that the Effectiveness of Welfare measures

are Fully Effective.

58

19) Title: Whether the Welfare measures are periodically reviewed

When the respondents are enquired about the reviewing of these Welfare

Measures, the following responses are observed.

Inference: When the respondents are enquired about the reviewing of these

welfare measures, most of the respondents viewed that they are periodically

reviewed and some of the respondents viewed that they are reviewed only on

frequent requests.

Interpretation: 53% of the respondents agreed that Welfare measures are

periodically reviewed and 47% of the respondents agreed that Welfare measures

are reviewed only on frequent requests.

S NO VIEW % OF RESPONDENTS1 Periodically 53%2 Never 0%

3 Only on Frequent Requests 47%

59

Interpretation :

Title Interpretation

Working Atmosphere Some of the respondents of all age groups agreed that the working atmosphere is excellent and most of the respondents of all age groups agreed that the working condition is good and the respondent showing poor is nil.

No of employees aware of facilities

73% of the sample respondents felt that they are aware of Facilities are provide by Bank;

Awareness of various facilities

Most of the respondents are aware of all the facilities while some of the respondents are aware of only Educational facilities, Medical facilities and Housing facilities.

Welfare measures for the betterment of the

organization

Most of the respondents ranked, to achieve only tangible benefits and to build up human assets while some of the respondents ranked, to improve efficiency of employees.

Motivation of employee through employee welfare

measures

Most of the respondents felt that employee welfare measures help the organization to motivate its

employee so that these valuable resources can be effectively utilized for improving the performance

of the organization.

Employee satisfaction on employee welfare

measures

Most of the respondents are satisfied with the loan facilities and Medical facilities and some of the respondents are satisfied to some extent with the general facilities.

Sense of security Most of the respondents felt that these employee welfare measures provide the sense of security.

60

Educational Facilities Most of the respondents are satisfied to some extent with the Educational allowance provided for children and some of the respondents are satisfied with the Educational allowance provided for self-education.

Educational loans provide by Bank

Most of the respondents agreed that they are provided with the loan for dependents and some of the respondents felt that they may be provided with the education leave for self.

Medical Assistance schemes

Most of the respondents are satisfied to some extent with the hospitalization expenses for dependents and hospitalization expenses for self after retirement and some of the respondents are dis satisfied with the Medi-claim insurance card for self and for dependents

Is Medical risk for his/her family covered by Bank

Most of the respondents having 3 –4 and 1 – 2 dependents agreed that the Medical risk for his/her family is covered with the available facilities.

Housing Facilities Most of the respondents are satisfied with the housing loans for construction of houses and some of the respondents are satisfied to some extent with the payment

of HRA.

Satisfaction level on benefits provided by

Bank.

Most of the respondents are satisfied to some extent with the benefits provided by Bank.

Transport Facilities Most of the respondents are satisfied with the conveyance allowance provided by Bank, as there is no transport facility.

61

Canteen Facilities Most of the respondents are of the opinion that the canteen facilities are average and some of the respondents agreed that the canteen facilities are good.

General Facilities Most of the respondents agreed that they are provided with satisfied general facilities like drinking water, First aid box etc.

Welfare and social measures conveyed by

management

Most of the respondents agreed that the Welfare and social measures conveyed by the management are to the great extent.

Effectiveness of Welfare measures

Most of the respondents felt that the effectiveness of welfare measures are sufficient and some of the respondents felt it hardly.

Whether the Welfare measures are periodically

reviewed.

Most of the respondents agreed that these Welfare measures are periodically reviewed where as some of the respondents agreed these Welfare measures are reviewed only on frequent requests.

Observations:

62

The observations made in this chapter and analysis thereof are based on a

questionnaire which covers the following major areas.

1. Working atmosphere

2. Number of employees aware of facilities

3. Awareness of various facilities

4. Welfare measures for the betterment of organization

5. Motivation of employee through employee welfare measures

6. Employee satisfaction on employee welfare measures

7. Sense of security

8. Educational Facilities

9. Educational loans provided by Bank

10. Medical Assistance Schemes

11. Is Medical risk for his/her family covered by Bank

12. Housing Facilities

13. Satisfaction level on benefits provided by Bank

14. Transport Facilities

15. Canteen Facilities

16. General Facilities

17. Welfare and Social Measures conveyed by the management

18. Effectiveness of Welfare Measures

19. Whether the Welfare measures are periodically reviewed

63

CHAPTER-V

Suggestions and Conclusions

Suggestions

64

Expect the management to cover all ailments including Dental.

Hospitalization expenses can be increased.

Tie-ups should be made with Hospitals and good Educational Institutions.

Increase in House rent Reimbursement

To increase quantum of Medical coverage.

While sanctioning of loans, there should not be take home pay condition.

There should be a park for recreation to the member of staff and their

family where the staff and then families meet regularly.

Creation of panel of specialized Doctors.

Overall welfare measures to be tuned with other banks like SBI.

Hospitalization bills in total to be reimbursed.

Reimbursement of expenses and grant of incentives – lump sum or

otherwise for acquiring professional qualifications like ICWA, ACS,

MCA, MBA.

The amount reimbursed under educational allowance for children should

be enhanced substantially.

Frequent interaction with the staff member feedback.

Housing loans and Educational loans to be sanctioned at lower rates of

interest.

Improvement of Medical aid and relaxation in LTC schemes.

Interest on staff loans should be rationalized and reduced.

Canteen facilities are to be improved.

Insurance for the Housing loan, so that the loan outstanding are adjusted

out of insurance claim completely in the event of death of staff member.

The reason for this is if insurance cover is not there in case of death of

65

staff member, large amount of terminal benefits are adjusted towards

these loans.

Having some Tie-ups with school management should insure new

scheme- School admission to children of staff on transfer.

Uniform Education facilities for children to be improved at all the

centers; some seats in the good schools are to be reserved for Bank

Employees children. Reasons are:

1) Staff faces a lot of problems in getting admission to good schools on

Transfers

2) Because ours is All India level transferable job for every 3 years.

3) At every center we are incurring huge expenses in the form of

Admission fee / Tuition fee / Donations etc.

Medi-Claim and Tie-up with major reputed hospitals in the city so that

the staff member need not pay huge amount on the rise of admission in

to hospitals.

Reimbursement of expenses on self-education. The reasons for this is:

Encouragement acquiring addition knowledge that will help the bank.

Organization schools for staff children

CONCLUSION

66

The development and survival of any organization is influenced by a vital

factor “HUMAN RESOURCE”. So every firm should maintain proper

welfare measures and norms in order to achieve its goals. In this process it

must provide sophisticated facilities to the employees so that they can

completely dedicate their services to the firm. And this project is one that

explains the methods and implementation of “HUMAN RESOURCE”.

67

CHAPTER-VI

Annexure

Questionnaire

68

1) Employee name (name optional):

2) Designation:

3) Department:

4) Qualifications: Grad ____________ PG __________________

Any others (please specify): __________________

5) Service Completed: ________ years

6) Age (please tick): a) Below 25 b) 25-35 c) 35-45 d) Above

45

7) Marital status: a) Married b) Unmarried

8) No of dependents: a) Nil b) 1-2 c) 3-4 d) above 4

(please tick)

9) How is your work condition?

a) Excellent b) Good c) Average d) Poor

10) Are you aware of various employee welfare facilities provided by the

organization?

a) Yes b) No

If yes, please tick the following welfare measures you are aware of

a) Educational facilities b) Medical facilities c) Housing facilities

d) Canteen facilities e) All facilities

If No, any specific reasons for not knowing

How the same can be popularized:

11) How these employee welfare measures work for the betterment of the

organization. [Please give rank 1, 2, 3, 4, and 5].

a) To improve efficiency of the employees [ ]

69

b) To build up the organization [ ]

c) To achieve only tangible and temporary benefits [ ]

d) To retain skilled employees [ ]

e) To build up human assets and employee loyalty to achieve the long term

goals [ ]

12) Employee Welfare Measures help the organization to motivate its employee

so that these valuable human resources can be effectively utilized for improving

the performance of the organization:

a) True b) True to some extent

c) Not possible at all d) Not possible without employee will to excel.

13) How satisfied are you with the welfare measures of your bank.

Schemes Satisfied Satisfied to some extent

Cannot say

Dissatisfiedto some extent

Totally dissatisfied

Loan facilities Medical benefitsOther benefits General facilities

14) Whether these welfare measures provide you a sense of security

a) Yes b) May be c) No

Educational facilities:

15) Please rate your satisfaction levels towards different Educational facilities

70

being provided by the organization. Please tick among the following

Educational allowance

Satisfied Satisfied to some extent

Cannot say

DissatisfiedTo some extent

Totally dissatisfied

For children For self-educationOthers (specify)

16) Is the bank providing the education loan facilities like?

Educational loans Yes May be No

For self-education

Education leave for self

Loan for dependents

Medical facilities:

17) Are you happy with the benefits of medical assistance scheme provided by

organization?

Medical Assistance schemes

Satisfied Satisfied to some extent

Cannot say

DissatisfiedTo some extent

Totally dissatisfied

Medical aid as a lump sum amountHospitalization expenses for selfHospitalization expenses for dependentsMedi-claim insurance card for self

71

Medi-claim insurance card for dependentsTransit homes for other places while in medical treatment Medical aid on RetirementHospitalization expenses for self after retirementOthers (specify)

18) Do you think medical risk for you & your family is covered with the

available facilities?

a) Yes b) No

Housing facilities:

19) Are you satisfied with the housing facilities provided by the organization through?

Satisfied Satisfied to some extent

Cannot say

DissatisfiedTo some extent

Totally dissatisfied

Payment of HRAHousing loansProviding bank quartersReimbursement of rent Others (specify)

20) Are you satisfied with the benefits provided to you

a) Satisfied b) Satisfied to some extent C) cannot say

d) Not satisfied e) Dissatisfied to some extent

Transport facilities:

72

21) Do you have any transport facility in your organization?

a) Yes b) No

If no, whether any conveyance allowed paid to you

a) Yes b) No

Are you satisfied with the conveyance allowance provided by bank for

purpose of transport?

a) Satisfied b) Satisfied to some extent C) cannot say

d) Not satisfied e) Dissatisfied to some extent

Canteen facilities & General facilities:

22) How are the canteen facilities in your organization?

a) Excellent b) Good c) Average D) Not good

23) Are you satisfied with general facilities like Drinking water, First Aid

a) Yes b) No

24) The Welfare & Social measures conveyed by the Management are

a) Great extent b) Satisfactory c) Limited extent

25) How effective do you think is the welfare measures?

a) Sufficient b) Fully effective c) Hardly

26) Whether the welfare measures are periodically reviewed

a) Periodically b) Never c) Only on frequent requests

27) Any expectations you have from the organization in the near future

_________________________________

28) Would you like to suggest any Measures for improvement of existing

welfare _______________________________________schemes:

29) Would you like to suggest any other innovative Welfare Measures to be

introduced?

73

Name of the new scheme Reasons for suggesting the same

SIGNATURE

Bibliography

74

S.no Title of the Book Name of the Author

Publisher P.no

1

2

3

4

5

Dynamics of Industrial

Relations

Personal Management

Industrial Relations

Industrial Relations &

Labor laws

Dynamics of Industrial

Relations in India

Factories Act in A.P

Mamoria &Gagkar

N.G. Nair&Latha

Nair

S.C. Srivastava &

Arun Monappa

C.B. Memoria &

S.V. Gankar

A.Subramanyam

HimalayaPublishers

(14th Edition)

----------------------

Tata Mc GrawHill

(12th Edition)

Meena Pandey’s (5th

Edition)

Subhash Gogio (1st

Edition)

351-393

326-329

243-264

175-205

231-287

S.NO URL Address

1. WWW.ThecentralbankofIndia.Co.In

2. WWW.Googlesearch.Com

75