Page 22 - Banking Finance November 2017

PEOPLE ON THE MOVE

Govind N. Dongre joined Punjab & Sind Bank as Executive Director

In pursuance to the Government Of India, Ministry Of Finance notification, Govind N. Dongre joined
Punjab & Sind Bank as Executive Director. Prior to joining Punjab & Sind Bank as Executive Director.
he was General Manager at Vijaya Bank. He is post graduate in Horticulture and a Certified Associ-
ate of Indian Institute of Bankers. Has a long a varied experience of over 30 years in Banking and has
served as Regional Head of Banglore (north) region besides heading Vishveshvaraya Grameena Bank
sponsored by Vijaya Bank, as its Chairman. At Vijaya Bank, he headed various verticals such as Retail
Credit, Credit (MSME) and Financial Inclusion.
Govind N. Dongre

SEBI gets two new EDs
Sujit Prasad, the current head of SEBI's Chennai office, will be the new executive director with the regulator in Mumbai.
The post of executive director fell vacant after J Ranganayakulu, who headed SEBI's legal department, retired on August
12. Anand Baiwar, an Indian Revenue Services Officer, is yet another officer selected as ED.
With Ranganayakulu retiring, SEBI had five EDs, including Anant Barua, SK Mohanty, PK Nagpal, S Ravindran and SV
Muralidhar Rao. SEBI will soon see appointment of yet another whole-time member.

Shri B S Shekhawat Appointed as Executive Director of Central Bank of India

Shri B.S. Shekhawat has been appointed as Executive Director in Central Bank of India by Govern-
ment of India with effect from 09.10.2017. Shri Shekhawat is an Agriculture Science graduate with
Hons., CAIIB and have completed post graduate certificate course in Management from IIM Banga-
lore. He started his career with Central Bank of India in the year 1986 as an Agriculture Finance
Officer. During his long career of 31 years, he has worked in different geographies and locations in
branches, as Regional Head at Jaipur and Ranchi Regions, Zonal Heads at Pune and Delhi Zones. He
also headed Human Resources Department of the Bank for two years at its Corporate Office. Imme-
B S Shekhawat
diately prior to his elevation, he was heading Priority Sector and Financial Inclusion Departments of
the Bank.

Unions say no to linkage of public sector bank pay to productivity

Recently public sector banks have proposed bank-wise compensation for executives, depending on the strength of each
entity. PSU banks under the aegis of the Indian Banks Association (IBA) have also proposed wage increases be produc-
tivity-linked rather than automatic hikes based on tenure. Unions have opposed both the proposals.
The IBA had its initial round of discussion with employee associations on wage revision. Public sector banks are trying
to bring in the 'cost to company' concept that is prevalent in the private sector. The banker's association plans to make
a strong push for a large variable component in the compensation. Like in the pension reform, which was brought in by
making it applicable to new employees, they may propose that variable pay be introduced for new hires.

The previous bipartite wage agreement (10th) had resulted in a 15% wage hike and two additional holidays a month
as part of the industry-wide settlement. The hike resulted in an additional outgo of Rs 4,725 crore per year for 45
banks that were part of the deal. Although the deal was signed in 2015, it was with retrospective effect from 2012.
According to Devidas Tuljapurkar, joint secretary All India Bank Employees Association (AIBEA), the government's pro-
posal to merge public sector banks has added to the uncertainty. "The issue facing banks is that of non-performing
assets. How will the merger help," he said. Tujlapurkar said the merger of SBI's associates with the parent has resulted
in the bank losing business worth Rs 2 lakh crore.

22 | 2017 | NOVEMBER | BANKING FINANCE

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