Call to increase retirement age of bank employees to 65

The retirement age for bank employees should be increased to 65 for better utilisation of the services of seniors, said INTUC national president G. Sanjeeva Reddy.

Many officers were joining private financial institutions after their superannuation and extending quality services. The Public Sector Units were unable to make use of their services fully as they were retiring by 60, he opined.

Speaking after inaugurating the Eighth Biennial Conference of Union Bank Officers’ Congress of Andhra Pradesh here on Sunday, Mr. Reddy said the INTUC was opposed to the disinvestment plans and selling of shares to private companies from PSUs. He promised bankers of a discussion on their problems with the Centre.

Vijayawada MP Lagadapati Rajagopal, who attended the conference, said banks would collapse if NPAs increased, and underlined the need for prompt payment of loans borrowed by bigwigs.

Advice to seniors

Union Bank of India Staff College Principal P.S.N.M. Sarma said the bank recruited 5,500 employees in the last five years. But, the young officers were leaving the organisation as private financial institutions were offering good salary. The senior officers in banks should change the mindset of the fresh recruits and prevail upon them to stay in the organisation and help in the growth of business, said UBI Hyderabad Deputy General Manager M.N. Teppalwar. The officers appealed to the INTUC president to raise voice on behalf of the All India Union Bank Officers’ Congress (AIUBOC) on wage revision in the proposed bipartite talks.

Mr. Sanjeeva Reddy along with the MP and the bank officers released the ‘service rules’ book of the UBI. Later, they felicitated the branch officers of various districts. Bank officers from the neighbouring States also attended the conference.

AIBUOC president Syed Allbaksh, AP unit president M.M. Bhaskara Rao, general secretary V.V. Ramana, DGMs I.C. Amruth Kumar, D.V. Gupta, and K.L. Raju, and retired officers participated.