They also demanded the withdrawal of the ban on new loans, as it would put the bank out of the market in lending business
Freeze on new recruitment is hurting banking operations and customer service, said union leaders of Punjab National Bank (PNB) on Monday. They estimated that manpower shortage to be of 25% which, if not filled in a time-bound manner, may lead to a strike being held by bank officers and employees. They also demanded the withdrawal of the ban on new loans, as it would put the bank out of the market in lending business.
As a part of All India protests All India Punjab National Bank Officers Association (AIPNBOA) and All India Punjab National Bank Employees Federation (AIPNBEF) on Monday held demonstrations in the city protesting against the shortage of staff. "The staff is trying to meet all the operational requirements in spite of shortfall. However, if the management thinks that this makes a case to freeze recruitment then this is an utter disregard to the sentiments and commitment of the staff," said K V Barot, general secretary – Gujarat of AIPNBEF.
Barot said that recent operational decisions have also adversely affected customer service. Until recently, local branches had the authority authenticate the customer and to disburse cheque-books. However, with the process being centralized, there is a delay of about 4-7 days to disburse cheque-books. ATM cards are also in short supply.
"The sudden change in approach is mysterious. There were talks of increasing the workforce until 2017. Now, even vacancies are not being filled. Instead of expansion plans, preparations are on for merger and closure of branches," he said, adding that the top management is taking unilateral decisions about workforce planning, totally opposite to the consultative process in place till about a year ago.
Claiming that Insolvency and Bankruptcy Code (IBC) has accelerated the process of recovery of bad loans, and forced willful defaulters to repay the loan, Barot said that prolonged restriction on new loans will block generation of new business and weaken the bank and therefore the curb of Prompt Corrective Action (PCA) should be withdrawn and banks allowed to conduct normal banking operations.
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