Business Standard

Stop sale of third-party products at state-run banks: AIBOC


Press Trust of India Dharamshala
Bank officers at state-run banks are facing tremendous work pressure due to staff shortage and sale of third-party products like mutual funds which should be stopped, a senior official of All India Bank Officers' Association (AIBOC) said.
Bank managements are turning lenders into supermarkets of all banking services and shifting the focus of bank officers to just third party products, AIBOC Vice-President Deepak Sharma told PTI here.
This tremendous pressure is leading them to depression or suicidal tendencies on account of their unending efforts to make a balance between multiple pressures, job requirements, and appeasement of bosses, he added.
The officers in nationalized banks are under tremendous pressure to meet the targets on those works which are basically not in their basic Job, he claimed.
"There is heavyworkload,acute shortage of staff and lot of pressure down the line to sell mutual funds and insurance products to make banks as super markets of all banking services, which has beencreated by the bank managements, misplacingthefocus of bank officerson just third-party products," he said.
Sharma alleged that in the last few years,bank managements are creatinglot of pressure down the line to sell mutual funds and insurance products,as these sales arelinked with higher income in the shape of incentives to seniors, in perks,foreign tours, gala parties in five star hotels in exotic locations, recognition and rewards to best performers, promotions etc.
He said that there is an urgent necessity to stop handling of such non banking activities in banks in the interests of banks, employees and customers, rather bank managements should recruit sufficient staff to implement various govt sponsored schemes.

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First Published: Jul 31 2019 | 4:30 PM IST

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