EDITORIAL BOARD

EditorCom. Walter Lasrado

MembersCom. Vincent D’Souza

Com. G. Govardhan PrabhuCom. B.N. RajajiCom. M. Nagaraj

Corporation Bank Employees’ UnionCBEU Golden Jubilee Hall, 1st Floor,

Opp: Sharada Vidyalaya,P.V.S. Kalakunj Road,

Kodialbail,Mangalore 575 003

Phone: 4279303

Volume No. 20

Issue No. 11

January 2014

For Private circulation only

Views expressed in this Magazineare not necessarily those of

Corporation Bank Employees’ Union

Dear Comrades,

Slowly the election fever is gripping our country. Various predictionsare coming in the newspapers daily. One of the common opinions is thatthe UPA Government will lose badly in the coming Lok Sabha elections.The present Government is increasingly working in the interest of bigcorporate business houses of our country and the international cartelsundermining the national interest. Latest decisions of the Government areenough indications of the rightist shift in the policies detrimental to India’sgrowth and progress based on justice and equality. It is a pure joblessgrowth making the industrial houses to harvest super profits. The jobinsecurity and the job losses on the one hand and increased trends ofcontract labour and outsourcing on the other is the rule of the day. Violationof labour laws to favour industrial houses, attacks on trade unions andintimidation of the union leaders with the tacit support of the Governmentauthorities is the order of the day.

Bringing in FDI in retail sector will be a big blow to four crores ofsmall traders, shop keepers, marginal and poor farmers, other smallproducers of goods in home based and small scale industries.Unimaginable price rise of all essential and daily necessities of life do notfind any solution in the whole game of politics today. Recently the trios,the Finance Minister Shri P. Chidambaram, Shri Motek Singh Ahluwaliaand the Reserve Bank Governor Shri Raghuram Rajan have opined thatthe price rise is due to market forces i.e., demand and supply’. Itlooks like that the Government do not have any role to bring down theprices of essential commodities. They are predicting further price rise.Share market growth has been taken as the growth rate of economy.

This Government is also responsible for unprecedented rise incorruption with huge loss to national revenue and denial of rightful shareto common people in the wealth being produced in the country. The latestreports have indicated that 100 top rich families own assets to the tune of16 lakh crores of rupees whereas 70% Indians are forced to live on meagerspending of 16.60 per day. Hence the working class of our countryhave the dual challenges of saving the social fabric of the society byfighting against the communal and devisive forces as well as to save thecountry from economic onslaught by the multinational corporations.

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LABOUR NEWS

TRADE UNIONS DEMAND 9% RETURNON PF DEPOSITS

With high inflation eating into workers savings,trade union leaders who dominate decisionmaking at the Employee's Provident FundOrganisation have demanded a 9 percentreturn on retirement savings for FY14 even asthe organisation wants to continue with 8.5percent. The issue will be take up when the

EPFO's apex decision making body - theCentral Board of Trustees meets after a gap of11 months. "With high inflation and highinterest rates, the government should also offera higher return on PF deposits," said AKPadmanabhan, member, CBT and president,Centre of Indian Trade Unions.

"There has to be some increase in PF rates toprotect the value of the workers' savings," saysanother leader. In last fiscal year the EPFOoffered an 8.5 percent return on the provident

Bipartite talks held on 17th January,2014 between IBA and UFBU showed someimprovement and the IBA had improved their earlier offer from 5% to 9.5% on the Pay slipcomponents with an assurance to improve futher. In view of this UFBU decided to defer the twoday’s strike on 20th and 21st Jan., 2014. IBA has also assured that the wage settlement will beconcluded within June 2014. In this background UFBU held discussions with IBA on 27thJan,2014. In this meeting IBA had shown their true colour by insisting their demands likeintroduction of cost to company method, fixed pay-cum-variable pay baed on performance,switching over to mediclaim insurance scheme and restricting the negotiations to officers inscales I to III etc., However IBA came forward with a meager increase of 0.5% in their offer from9.5% to 10% on the cost of Payslip components . Hence UFBU had no option than to give a callfor 2 days strike on 10th and 11th Feb., 2014 as the IBA was adamant and not willing to increasetheir offer further despite continuous pursuation by UFBU.

Involvement of our members in all the agitational programmes and determination tomake two days strike a total success is the need of the hour. Once again history has proved thatonly through sustained fight, we can clinch bipartite. The Bankers have not changed nor willchange. But alas they want the unions to change their attitude and strategies. Trade unionshave changed over the period(change for the better) but IBA still remains in the stone age(i.e.,one step forward, two steps backward) testing the fighting capabilities of unions. When unionsstrike hard then only the IBA coffers will open. Our members should maintain the fighting tempoand in preparedness to implement any of the agitational programmes launched by UFBU toclinch 10th Bipartite settlement to the satisfaction of all concerned.

With fighting greetings,

Yours comradely,

(Walter Lasrado)Editor

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fund deposits of workers in the privateorganised sector. In 2013-14, the EPFO isestimated to have earned 20,796.96 croreof which 20,740 crore will be used to pay8.5 percent interest to its subscribers. An 8.5per cent interest would leave the retirement fundmanager with just about 57 crore surplus in2013-14 while even a 50 basis point hikewould require an additional 1,000 crore inthe fiscal.

"We would have liked to pay a higher interestrate to subscribers who are already reelingfrom high inflation but it has to be in proportionwith our returns," said a senior EPFO official.Apart from the interest rate, the Trustees in thefirst such meeting this fiscal, are also expectedto take up a host of proposals including arevamped investment pattern for the EPF. Thenew pattern, which is based on the financeministry's investment pattern for pension andprovident fund trusts 2008, envisages raisingthe cap on investments in PSU and privatesector corporate bonds to 55 percent but hasrefrained from investing in equities.

Though the labour ministry has already notifiedthe investment pattern, hike in investment incorporate paper has to be ratified by the CBT.Under the new pattern, the EPFO can alsoinvest up to 55 percent of its 6 lakh crorecorpus in government securities while up to 5percent can be put in money market instrumentsincluding units of mutual funds.

NOKIA'S CHENNAI PLANT WORKERS'UNION BLAMES COMPANY FOR DEALMESS

The workers union of Nokia India's Chennaifacility - the Nokia India Thozhilalar Sangam -which is all set to move the Delhi High Courton Saturday has blamed the Finnish mobilemajor for the current mess in the deal with

Microsoft. The union has said it will make aplea in the court to ensure that Nokia cannotgo back from its commitment that workers willbe part of Microsoft, post the conclusion of the$7.2 billion deal. Speaking to FE on Friday, MSaravana Kumar, president, Nokia IndiaThozhilalar Sangam said. "We have no clueover Nokia's understanding with Microsoft onthe deal as well on tax disputes and it is forNokia to settle the disputes with Indian taxauthorities amicably and ensure that theChennai plant becomes a part of Microsoft.We have no clue on contract manufacturingas has been reported." "Given out under-standing on the deal, it seems that Nokia hasnot highlighted the tax disputes with the Indianauthorities in detail in its agreement withMicrosoft," he said.

Expressing dissatisfaction with the way Nokiahandles the issue, he said: "We are holdingdiscussions with our lawyers in Delhi and wewill most probably move the High Court. Wewant to implead ourselves in the case asdeadline is approaching fast." Finland'sforeign minister Erkki Tuomioja's commentssuggesting December 12 as a deadline toresolve Nokia's tax disputes in India has comeas a blow, he said. The ultimatum thatotherwise the Chennai plant will be left out ofthe deal has come a major blow in resolvingthe crisis and, hence unfortunate, he added.

MARUTI HR STAFF BEGIN PR DRIVE

Maruti Suzuki India is walking extra mile toimprove relationship with its factory workersby taking union representatives on afamiliarisation trip to parent Suzuki MotorCorp's (SMC) facilities in Japan over a yearafter being hit by a violent labour unrest. Whilethe first batch of the union members of thecompany's Gurgaon plant Maruti Udyog

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Kamgar Union (MUKU) left the country onSaturday for a week-long trip, it is under stoodthat a similar batch of workers from theManesar plant will undertake a similar toursometime next year. "We will be meeting SMCchairman Osamu Suzuki representatives fromtheir unions, as well as HR department peopleduring our visit to Japan," MUKU generalsecretary Kuldeep Janghu said. Commentingon the purpose of the tripe, Mr Janghu said:"It will help us know their systems better. It willalso help us understand them better so thatthings which happened a year-ago do not everhappen again."

The 15 member delegation would also witnessthe functioning of various departments inSuzuki's facilities, including productionmanoeuvres, he added.

When asked about the development, MarutiSuzuki India Chairman R.C. Bhargava said:"We have been doing such activities for thelast 25 years. During the visit, the uniondelegation would meet Japanese workers,union representatives and would also seemanufacturing processes in the Suzukifactories. Maruti had witnessed a violentlabour unrest at its Manesar plant last year inJuly, in which one senior executive was killed.Following the incident the company had fired546 workers. Mr Janghu added that a similardelegation from the company's Manesar plantmay also visit Japan in next couple of months.

NOW, WORKERS' WAGES IN BANKACCOUNTS

In bid to ensure timely payment of minimumwages to factory workers, Punjab is making itmandatory for employers to transfer the sameinto bank accounts of their employees.Disclosing this, the state's labour minister

Mr Chunilal Bhagat said this process wouldsoon be initiated as the Punjab Assembly hasamended the payment of Wages Act to bringthis system in practice. He said that it was acumbersome procedure to ensure minimumwages besides total and timely disbursementto labourers for earlier, the entire system wasmanual which helped factory owners indenying minimum and timely wages.

The Punjab government has hence decided tomake direct payment into bank accountsmandatory by making requisite amendmentsin the Payment of Wages Act. Appealingfactory workers to open bank accounts as earlyas possible, Mr Bhagat also asked factoryowners to extend every possible help to theirworkers. Reiterating commitment towardswelfare of labourers, the minister said the SAD-BJP government has revised minimum wageslast year under which 6247.75 per monthhad been fixed for unskilled labourers and46,232.30 per annum for inexpert agri-

labourers.

BANKING NEWS

BANK CANNOT VIOLATE ACUSTOMER'S PRIVACY, SAYS STATEGOVT ORDER

The state government has passed stricturesagainst a public sector bank for parting withconfidential customer data. "BoB has doneabsolutely no investigation on its own to findhow this occurred. This speaks volumes aboutthe bank's apathy regarding privacy of itscustomers' sensitive data," the order said. TheInformation Technology Act speaks aboutimplementing reasonable security practices andprocedures to protect sensitive personalinformation. Adjudicating officer Rajesh

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Agarwal said that a customer's bank statementwas in this category.

The bank's branch manager, in a statement tothe police in a related case, said contents ofthe bank statement matched with AmitPatwardhan's bank account data but the formatwas different from how the bank gives aprintout. The manager said their policy wasnot to give a detailed bank statement toanybody without a customer's approval andthey had no knowledge about how Rud Indiaobtained Patwardhan's bank statement. Eithersomeone from the bank was induced to providethe statement or the company hacked into thecomputer systems to access the statement, theorder said.

"Any private investigations by various dubiousmeans which violate individual's privacy andpersonal sensitive data need to be reviewedseriously," It said, and added that the companyshould have approached the police if itsuspected bribes being paid to patwardhan.Advocate Prashant Mali, a cyber law & cybersecurity expert, who appeared for Patwardhan,said, "This clearly demonstrates the Indianbanks' lethargy towards customer data. Thisfree-for-all attitude is putting client financial dataat larger global fraud risk.

CABINET NOD FOR CONVERSION OFPREF SHARES INTO EQUITY IN 3 BANKS

The Union Cabinet has given its nod forconversion of perpetual non-cumulativepreference shares held by the Government inthree public sector banks - Indian Bank, UCOBank and Vijaya Bank - into equity shares.PNCPS amounting to 400 crore, 1,823crore and 1,200 crore in Indian Bank, UCOBank and Vijaya Bank, respectively, will be

converted into equity in favour of CentralGovernment, Finance Minister P. Chidambaramtold newspersons here.

This move will increase the Centre's holding inIndian Bank from 80 percent to 82.22 percent,in UCO Bank from 69.26 percent to 77.25percent and in Vijaya Bank from 55.02 percentto 71.85 percent. The conversion, which willbe done this fiscal, is however subject to SEBIas well as shareholder approvals.

Chidambaram noted that conversion of PNCPSwill bolster the tier-I capital of these three banksand make available more funds for meetingthe credit needs of the productive sectors ofthe economy.

NO FRESH CAPITAL NEEDED FOR2 YRS : SBI

THE State Bank of India (SBI) will not requirefresh capital for two years after its forthcoming11,500 crore qualified institutional placement

goes through, and any overseas bond sale isexpected only after the QIP. "That (Governmentinfusion through a preferential issue followedby the QIP) is the process we are going to followthis year and it will see us for the next twoyears," SBI Chairperson ArundhatiBhattacharya said. Post QIP, for which SBIreceived shareholders nod earlier this week,government holding in the bank will go downto 58 percent, she said.

KEEP BANKING INDUSTRY SEPARATE

A Parliamentary panel on Monday suggestedthe Reserve Bank should refrain from givingbank licences to corporates as the bankingbusiness is highly leveraged and involves publicmoney. Headed by senior BJP leader YashwantSinha, the Standing Committee on Finance also

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asked the RBI to review the guidelines on'licensing of new banks in the private sector'issued on February 22. "Banking being ahighly leveraged business involving publicmoney and public welfare, the Committee areof the considered opinion that it will be morein the fitness of things to keep industry andbanking separate. The Committee, thereforedesire the government or the Reserve Bank ofIndia to review the licencing guidelinesaccordingly," the report tabled in Parliamentsaid. About two dozens, including corporatehouses, are in the fray to obtain bank licenses,which the RBI proposes to grant in the firstquarter of 2014. The committee has expressedapprehension that management of privatebanks may deploy their funds to extend unduefavour to own industrial owners, as it was inthe pre-nationalised era.

RISING BAD LOANS TO CUT GOVT'SEARNINGS FROM PSBS BY 30%

Public sector banks will see a further surge inbad loans which will dent their earnings andshrink the government's dividend earning fromthese banks by around 30% according to ratingagency ICRA. In a report on the bankingsector, the rating agency said that more loanswill turn bad in the medium term, resulting ingross non-performing assets (NPAs) of publicsector banks rising from 4.5% in September2013 to 4.8-5% by March 2014. In additionto this, standard restructured assets areexpected to rise to 66.2% by March 2014 from5.3% as of March 2013.

Besides providing for higher bad loans, bankswill have to provide for 6,000 - 7,000 croreof unamortized losses arising out ofdepreciation in the value of government

securities in their portfolio. This will hitprofitability of banks in the second half of thecurrent fiscal. The rating agency also estimatesthat Indian banks would need total capital of4.1-5.7 lakh crore during the period FY

2014-18 to meet Basel III norms. Of this,around 80% would be needed by public sectorbanks and the rest by private banks. Of thetotal sum, around 50% would be required inthe form of common equity capital 35% asadditional tier I capital, and the rest as tier IIcapital. The common equity capital (equity andreserves) requirement is large for public sectorbanks, especially in relation to the meagre47,700 crore that the government has infused

in the last five years.

JALAN: RBI NOT IN A RUSH ON NEWBANK LICENCES

The Reserve Bank of India is now intensivelyscrutinising the applications made by 25-oddbanking licence aspirants, former RBI GovernorBimal Jalan has said. The scrutiny is beingdone keeping in perspective the variousparameters mentioned in the guidelines framedby the RBI for award of new bank licences. Acommittee headed by Bimal Jalan has beentasked with helping the central bank arrive ata decision on the entities that should be grantednew banking licences.

The RBI is learnt to have given three months tothe committee to firm up its recommendations,following the initial scrutiny of applications bythe central bank. "We are trying to frame apolicy on bank. They are going to deal withpublic money. Therefore, we don't want torush. We will take decision which is in ourinterest, public interest. Time per se to me isnot that important," Jalan said on the sidelinesof the Delhi Economics Conclave.

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CO-OP BANK DIRECTOR ARRESTED FORHELPING THREE SIPHON OFF 14 CR.

Kapol Co-operative Bank Director Hiren Mehta(67), accused of facilitating three businessmenin siphoning off 14.50 crore by submittingbogus letters of credit, was arrested by theEconomic Offences Wing of the Mumbai policeon Thursday. The Borivli resident was chargedunder various sections of the Indian Penal Codefor forgery, breach of trust and cheating, andhas been remanded to police custody. He isthe third person to be arrested in the scam.The police had earlier arrested Mazgaonbusinessman Quresh Rajkotwala and InduslandBank official M. Nair. The are on the look-outfor Quresh’s brother Zuzar and Deepak Bhatia,Director, Decent Corporation Pvt. Ltd.

A complaint of cheating had been filed by theKapol Bank Fort branch alleging thatRajkotwala and Bhatia submitted bogus lettersand siphoned off the money. The police hadon November 27 arrested Nair after they foundher signatures on the letters but she said theywere forged. Investigations revealed Mehtahad taken 20 lakh from Quresh and hadinfluenced subordinates to help him openaccounts, EOW unit II senior inspectorPrabhakar Loke said.

CRORES DISBURSED BY BANK UNDERTHE SCANNER

Fresh trouble seems to be stored in for theMumbai District Central Co-operative Bank.The state cooperatives department has statedthat the financial institution lend crores to“dubious” credit societies. An auditor of thestate cooperatives department has registered

CO-OPERATIVE NEWS his statement with the Ghatkopar police station,raising questions over the bank’s role indisbursing loans. The auditor has alreadylodged a police FIR against the three creditsocieties. “An extensive scrutiny by the stateauditors has revealed that loans worth croreswere given to credit societies. In order to probeinto the alleged economic offences, the auditordecided to approach the police,” a state officialsaid. “Some months ago the cooperativesdepartment had lodged an FIR against the threecredit societies. After observing that the bank’srole too needs to be probed, the auditor inDecember 2013 went ahead and filed asupplementary statement to the pendinginvestigation.”

Bank chairman and MNS legislator PravinDarekar denied any wrongdoing. “The bankhas taken the initiative and lodged a policecomplaint with the economic offences wingagainst the dubious credit societies that havecheated the institution. I have always insistedon maintaining transparency in institution’sfunctioning” Darekar said. The police tooconfirmed recording the auditor’s suplementarystatement. “The FIR is against three creditsocieties. Currently, there is no case againstthe bank. But whether or not Mumbai bankofficials are involved is part of theinvestigation,” said a police officer. “Accordingto the Code of Criminal Procedure, anyadditional information received duringinvestigation can be added to the existing FIR,”said lawyer YP Singh.

“FIR is registered on the basis of information.In this case, if a Government officer is furnishingsome information, then the supplementarystatement of the auditor has to be recorded.The police can add the supplementary

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statement to the registered offence pending withthe investigating agency,” he added.

SHIKSHAK SAHAKARI BANK OFFERSSLEW OF SCHEMES

Shikshak Sahakari Bank Limited, Nagpur willbe offering six per cent rate of interest tosavings account holders as a New Year gift.Furthermore, it has introduced Core BankingSystem (CBS) and any branch banking servicesstarting from January 1, 2014. It has alsolaunched attractive schemes for its valuablecustomers. Shikshak Sahakari Bank will beoffering for deposits from 15 to 90 days interestat 7 per cent and for societies, institutes andtrusts interest at 8 per cent. Deposits from 90days to 180 days it is offering 8 per cent andfor societies, institutes and trusts at 9 per cent.

Deposits ranging from 181 days to 1 year at

8.5 per cent and for societies, institutes andtrusts at 9.5 per cent, deposits from one yearto three years at 9 per cent and for societies,institutes and trusts at 10 per cent. For depositsbetween three years and five years it is offeringinterest at 9.5 per cent and for societies,institutes and trusts at 10 per cent. For depositsmore than five years at 10 per cent and forsocieties, institutes and trusts at 10.50 per cent.Similarly, for senior citizens (age is more than60 years) it is offering .50 per cent more thanthe applicable rate. Shikshak Sahakari Bankis offering special schemes for the benefit ofcustomers. Anil Sole, Chairman, Sanjay Narke,Vice-Chairman, Pradip Dixit, Chief ExecutiveOfficer and all directors have requestedcustomers to take benefit of the attractiveschemes and earn more interest in their savingsaccounts.

COIMBATORE

CBEU MEETING

On 21st December, 2013 a SpecialMeeting of CBEU and CBOA members washeld at Coimbatore city. Com. S.Ananthanarayanan, Vice-President, CBEU,Com. V. Raghuraman, Former-Vice Presidentof CBEU and CC Member, AIBEA & Treasurer,and Com. R. Jaganathan, Assistant Secretary,CBOA addressed the gathering. The meetingwas well attended by around 100 comradesfrom Coimbatore & nearby branches includingCBOA members.

Com. Kanaga, our comrade fromVelandipalayam branch delivered the welcomeaddress. Com. V. Raghuraman, in his address,informed the gathering about the recent moveof the Government and State Bank of India to

merge its subsidiaries with itself. He alsoexplained the retrograde anti-people policiesof the Government, the attempt to privatise thebanking sector, new bank licensing policy toprivate corporate houses, merger of Banks, etc.He also cautioned the members of the negativeeffects of Banking Sector reforms persuadedby the Government. It was informed to thecomrades about the recent “March toParliament” by AIBEA on 11.12.2013, tohighlight 30 point demand to safeguard the

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Indian Banking Industry, our Economy and theBank Employees. The issues relating toParliament Morcha on 12.12.2013 by theCentral Trade Unions in which AIBEA alsoparticipated was highlighted. While speakingabout the Xth Bipartite wage negotiations,Com. Raghuraman explained in detail to themembers about the present situation of theBipartite talks with IBA.

Com. S. Ananthanarayanan, expressedhis happiness over the participation of ourcomrades in large numbers. He also requestedthem to participate in the same manner, in allthe district programs and meetings. Whileaddressing the members, he explained aboutthe approach and achievement of the CBEU asthe sole bargaining agent in Corporation Bank.

During the meeting, Com. V.Raghuraman was felicitated on his retirementfrom our Bank’s services, for his contributionfor CBEU and the Bank employees’ movementfor the past 37 years. He was honoured byoffering a shawl on the occasion.

Com. R. Jaganathan, AssistantSecretary, CBOA, while greeting the members,urged them to join CBOA, on their promotion.He also motivated the members to build astronger CBEU-CBOA in the coming days.

Com. S. Nagarajan, Branch Secretaryof our Coimbatore Velandipalayam branchproposed the vote of thanks.

All the members of the CBEU and CBOAof Chennai city branches including membersfrom outside branches have participated in thespecial meeting conducted for all Chennai CityBranches on 28.12.2013.

CHENNAI

Com. A. Baskar, Joint Secy CBEUwelcomed the gathering followed by greetingsand strength of Union by Com. Satish Chandra,Zonal Secy. CBOA.

Our beloved leader Com. V. Raghuramanexplained about Banking Scenario, about ourBank, and the latest developments in the 10thBipartite Wage Negotiation.

Our beloved leader Com. T.V. Rajannarrated about our Union. The meetingmessage was very well received by all themembers.

Both the leaders requested the membersto actively participate in all the programmesof our union and in all the developmentalactivity of the Bank.

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Former President of CBOA, Com. T.K.Subramanian and presently the President ofCorporation Bank Retirees Association alsoaddressed the gathering.

The following retiring Comrades of ourUnion were honoured:

(a) Com. V. Raghuraman, CC member ofAIBEA, Treasurer of TNBEF and formerVice President of CBEU and Treasurer.

(b) Com. T.V. Rajan, former Joint Secretaryof CBEU.

(c) Com. L. Kalyanaraman, former JointSecretary of CBEU.

NEW DELHI

Taking advantage of Parliament Morchaon 10th and 11th December, 2013, the Delhicomrades under the leadership of Com. SCSNegi, Joint Secretary and Com. RavinderSharma, Assistant Secretary, assembled for ameeting at New Delhi on 12th December,2013. Com. SCS Negi, Joint Secretarywelcoming the audience gave brief accounton the activities of Delhi unit and participationof Delhi comrades.

demanding expeditious 10th BipartiteSettlement. He exhorted the membership toparticipate in all the programmes beingchalked out by AIBEA/UFBU to defeat the evildesigns of the Government/Bankers combineand also to realize our long pending 10thBipartite Settlement. He also appealed to themembership to actively participate in all thedevelopmental activities of our Bank and regainthe lost glory in the times to come.

Com Vincent D’Souza, General Secretaryand Workman Director touched upon the issuesconcerning our Bank, the downward trend inthe performance of our Bank for the quarterended 30.09.2013 specially in the areas ofincreasing NPA’s and decreasing CASAdeposits which have a telling effect on theperformance of our Bank. He appealed to therank and file to contribute immensely for theall-round growth of our Bank by participatingactively in the Nishta Campaign to garner

Finally Com. R. Gnanadasan, CC member ofCBEU proposed vote of thanks. The programmewas well received by all the membersparticipated in the meeting.

Com. Walter Lasrado, the President ofour Union in his address dwelt at length aboutthe ongoing struggles in the Banking Industryagainst Government’s unabated attacksthrough Banking Sector Reforms, privatization,merger of Banks, issuance of Banking Licensesto private and foreign capitalists and also

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optimum level of CASA deposits and also keepa watch on the unscrupulous elements who useour Bank for furtherance of their vested interestsby contributing for the growth of menace ofNPA’s in our Bank.

Com. Anil Singh, Vice President of CBOAin his address stressed the need for a strongCBEU - CBOA unity in our Bank.

The members present on the occasionactively participated in the deliberationsthereafter and all their doubts and queries weresatisfactorily replied by the President andGeneral Secretary.

On this occasion, besides all the leadersfrom Delhi Com. Vipin Singhal, Com. ManojKumar and Com. Sunny, the leaders fromMangalore Com. B.N. Rajaji, Vice President;

Com. Govardhan Prabhu, Joint Treasurer;Com. M. Nagaraj, Assistant Secretary; fromHubli Com. Stephen Jayachandra, JointSecretary; from Ludhiana Com. Dinesh Kumar,Assistant Secretary; from Meerut Com. AnandKumar and from Patna Com. Sanjay Kumar

Tiwari also attended the meeting.

Com. Ravinder Sharma, AssistantSecretary thanked the leaders and membershipfor making the meeting a splendid success. Themeeting ended with dinner to all theparticipants.

SALEM

A special meeting of CBEU & CBOAmembers of Salem and Namakkal districtbranches was held at Salem on 23rd December2013. The meeting was presided over by Com.S. Sampath, SC/ST cell member of CBEU.Com.G. Suresh, Branch Secretary of Salem-Alagapuram welcomed the gathering of about80 comrades.

Com.M.Sridhar, EC member from Salem,in his address, briefly recalled the achievementsof CBEU & AIBEA. He recalled the reasonsbehind the observance of All India Day byAIBEA on 5th December 2013 against the NPAmenace in the Banking Industry and the needto go on agitation by the bank employeesdemanding early wage revision & against thebanking sector reforms by the IBA/CentralGovt. combine.

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Name Branch AmountCom. Rashmi H.V. Virajpet 5,000/-Com. Ramanath Shenoy C.S.D., H.O. 2,500/-Com. Shwetha Sanzgiri Dadar West 500/-Com. Mahesh Hanachal Hubli 1,001/-Com. N. Narahari Shantinagar 500/-Com. Shilpa P.K. Periyapatna 2,000/-Com. S. Moinuddin Hyderabad 1,000/-Com. Namita Kumari Kamalanagar Delhi 3,100/-Com. Chandrashekhar K. Indore 1,100/-Com. Arun Kumar Pillai Raipur - Pandri 2,000/-Com. Rupesh A. Vidisha 1,000/-Com. Rajendra M.R. Malavalli 1,000/-Com. Syed Fazalur Rehaman Malavalli 1,000/-Com. M. Madhu Malavalli 1,000/-Com. Maithra M.H. Malavalli 1,000/-Com. R. Mahadeva Malavalli 1,000/-Com. Santhosh Kumar Mandal New Delhi 2,100/-Com. Umme Salma Vijayanagar, Bangalore 500/-Com. S. Yuvaraj Yemmiganar 1,100/-Com. Jagannath K. Dharwad 1,000/-Com. Meenakshi PTS, H.O. Mangalore 1,000/-

DONATIONS

Com.R.Sadhashivam, Secretary ofCorporation Bank Retirees' Association,advised the members to take active part inTrade Union movement with special emphasison our lady comrades who constitute about40% of the work force in the banking industry.He wanted the members to fight against theGovernment not only organisationally butpolitically also.

Com.S,Suresh, EC member of CBOA,addressed the gathering and emphasised theneed for a strong bondage & understandingbetween CBEU & CBOA members.

During the meeting, Com.V.Raghuraman,former Vice-President of CBEU, was honouredfor his contribution to the Bank Employees'movement, who reform from the services of ourBank on 31st December 2013.

Com.V.Raghuraman, in his elaborate and

eloquent speech, explained the latestdevelopments in the banking industry. Hewanted the comrades to be vigilant against theretrograde measures of the Government/IBAand fight against the New Bank Licensing PolicyBanking Sector Reforms, Labour LawAmendments, 10th BPS.

Com.M.Madhava Murali of SalemShevapet branch proposed a vote of thanks.