Shiwani Project Report G

7/31/2019 Shiwani Project Report G

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SUMMER TRAINING PROJECT REPORT

ONEMPLOYEES WELFARE SCHEMES

OF

PANJAB NATIONAL BANK

SUBMITTED TO MAHAMAYA TECHNICAL UNIVERSITY, NOIDA

FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT

FOR THE AWARD OF THE DEGREE OF MASTER OF

BUSINESS ADMINISTRATION

UNDER THE GUIDANCE OF: - SUBMITTED BY-

MR.ABHAY SAXENA SHIWANI SAGAR

MR.VIPIN KUMAR SHARMA ROLL NO. 1127870032

MS. TRUPTI JAIN MBA 3RD SEM

MR. J.C. BATRA

ARYAN INSTITUTE OF MANAGEMENT & COMPUTER

STUDIES(278)

AGRA


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CONTENT

CHAPTER-1

AN OVERVIEW OF BANKING INDUSTRY

EVOLUTION OF INDIAN BANKING

BANKING STRUCTURE IN INDIA

CHALLENGES FACING BY BANKING INDUSTRIES

THE GROWTH DRIVERS OF THE INDIAN BANKING INDUSTRY

CHAPTER-2

ABOUT THE PNB

INTRODUCTION

HISTORY

KEY EXECUTIVE

AWARDS

UNITS

CHAPTER-3

INTRODUCTION OF EMPLOYEE WELFARE SCHEMEEMPLOYEE WELFARE SCHEMES OF PANJAB NATIONAL BANK

CHAPTER-4

OBJECTIVE OF THE STUDY

RESEACH METHOLOGY

RESEARCH DESIGN

SAMPLING SIZE

DATA COLLECTION

SIGNIFICANCE

LIMITATION

ANALYTICAL TOOL & TECHNIQU

CHAPTER-5

DATA ANALYSIS & INTERPRETATION

CHAPTER-6

RECOMMEDATION

CONCLUSIONS


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Studying in Aryan institute of management and computer

studies, affiliated to MAHAMAYA Technical University, NOIDAaffiliated to MAHAMAYA Technical University, NOIDAhas been a unique learning experience. The vast knowledge and practical

exposure gained are invaluable to me. I feel a deep sense of satisfaction

in submitting this report and the project done here. I would like to

express my profound sense of gratitude to MR. ABHAY SAXENA and

MR. VIPIN KUMAR SHARMA AND MS. TRUPTI JAIN and also thanks

to MR. J. C. BATRA for his co-operation and guidance rendered during

the course of the project. My cordial thanks to the entire our Director sir

(MR. R. C. GUPTA) and all management faculty for providing me much

needed co-operation to get in depth knowledge.

(SHIWANI SAGAR)

DECLERATION


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I student of the Aryan institute of management and computer studies,

affiliated to Mahamaya Technical University, NOIDAaffiliated to Mahamaya Technical University, NOIDA hereby declare

that the project report titled EMPLOYEE WELFARE SCHEMES OF

THE BANK ((PNBPNB) for officers , clerks, employees.) for officers , clerks, employees. is my original work and

has not been submitted for the award of any other degree.

(SHIWANI SAGAR)


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CHAPTER 1

AN OVERVIEW OF BANKING

INDUSTRY

EVOLUTION OF THE INDIAN BANKING


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Structure of the organized banking sector in India. Number of banks

are in brackets.

Banking in India originated in the last decades of the 18th century.

The first banks were The General Bank of India, which started in1786, and Bank of Hindustan, which started in 1770; both are now

defunct. The oldest bank in existence in India is the State Bank of

India, which originated in the Bank of Calcutta in June 1806, which

almost immediately became the Bank of Bengal. This was one of the

three presidency banks, the other two being the Bank of Bombay and

the Bank of Madras, all three of which were established under

charters from the British East India Company. For many years the

Presidency banks acted as quasi-central banks, as did theirsuccessors. The three banks merged in 1921 to form the Imperial

Bank of India, which, upon India's independence, became the State

Bank of India in 1955.

Phase I- Pre- Nationalization Phase (prior to 1955)

Phase II- Era of Nationalization and consolidation (1955-1990)

Phase III- Introduction of Indian financed & banking sector reforms andpartial liberalization (1990-2004)

Phase IV- Prepare of increased liberalization (2004 onwards)

History
http://en.wikipedia.org/w/index.php?title=Bank_of_Hindustan&action=edit&redlink=1http://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Bank_of_Calcuttahttp://en.wikipedia.org/wiki/Bank_of_Bengalhttp://en.wikipedia.org/wiki/Bank_of_Bombayhttp://en.wikipedia.org/wiki/Bank_of_Madrashttp://en.wikipedia.org/wiki/Imperial_Bank_of_Indiahttp://en.wikipedia.org/wiki/Imperial_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/w/index.php?title=Bank_of_Hindustan&action=edit&redlink=1http://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Bank_of_Calcuttahttp://en.wikipedia.org/wiki/Bank_of_Bengalhttp://en.wikipedia.org/wiki/Bank_of_Bombayhttp://en.wikipedia.org/wiki/Bank_of_Madrashttp://en.wikipedia.org/wiki/Imperial_Bank_of_Indiahttp://en.wikipedia.org/wiki/Imperial_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_India


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Merchants in Calcutta established the Union Bank in 1839, but it

failed in 1848 as a consequence of the economic crisis of 1848-49.

The Allahabad Bank, established in 1865 and still functioning today,is the oldest Joint Stock bank in India.(Joint Stock Bank: A

company that issues stock and requires shareholders to be held liable

for the company's debt) It was not the first though. That honor

belongs to the Bank of Upper India, which was established in 1863,

and which survived until 1913, when it failed, with some of its assets

and liabilities being transferred to the Alliance Bank of Simla.

Foreign banks too started to app, particularly in Calcutta, in the

1860s. The Comptoire d'Escompte de Paris opened a branch in

Calcutta in 1860, and another in Bombay in 1862; branches in

Madras and Pondicherry, then a French colony, followed. HSBC

established itself in Bengal in 1869. Calcutta was the most active

trading port in India, mainly due to the trade of the British Empire,

and so became a banking center.

The first entirely Indian joint stock bank was the Oudh CommercialBank, established in 1881 in Faizabad. It failed in 1958. The next

was the Punjab National Bank, established in Lahore in 1895,

which has survived to the present and is now one of the largest banks

in India.

Around the turn of the 20th Century, the Indian economy was

passing through a relative period of stability. Around five decades

had elapsed since the Indian Mutiny, and the social, industrial andother infrastructure had improved. Indians had established small

banks, most of which served particular ethnic and religious

communities.

The presidency banks dominated banking in India but there were also

some exchange banks and a number of Indianjoint stockbanks. All

these banks operated in different segments of the economy. The

exchange banks, mostly owned by Europeans, concentrated onfinancing foreign trade. Indian joint stock banks were generally
http://en.wikipedia.org/wiki/Calcuttahttp://en.wikipedia.org/wiki/Allahabad_Bankhttp://en.wikipedia.org/wiki/Alliance_Bank_of_Simlahttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/w/index.php?title=Comptoire_d%27Escompte_de_Paris&action=edit&redlink=1http://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Pondicherryhttp://en.wikipedia.org/wiki/HSBChttp://en.wikipedia.org/wiki/Bengalhttp://en.wikipedia.org/wiki/British_Rajhttp://en.wikipedia.org/wiki/Faizabadhttp://en.wikipedia.org/wiki/Punjab_National_Bankhttp://en.wikipedia.org/wiki/Lahorehttp://en.wikipedia.org/wiki/Indian_rebellion_of_1857http://en.wikipedia.org/wiki/Joint_stock_companyhttp://en.wikipedia.org/wiki/Calcuttahttp://en.wikipedia.org/wiki/Allahabad_Bankhttp://en.wikipedia.org/wiki/Alliance_Bank_of_Simlahttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/w/index.php?title=Comptoire_d%27Escompte_de_Paris&action=edit&redlink=1http://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Chennaihttp://en.wikipedia.org/wiki/Pondicherryhttp://en.wikipedia.org/wiki/HSBChttp://en.wikipedia.org/wiki/Bengalhttp://en.wikipedia.org/wiki/British_Rajhttp://en.wikipedia.org/wiki/Faizabadhttp://en.wikipedia.org/wiki/Punjab_National_Bankhttp://en.wikipedia.org/wiki/Lahorehttp://en.wikipedia.org/wiki/Indian_rebellion_of_1857http://en.wikipedia.org/wiki/Joint_stock_company


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under capitalized and lacked the experience and maturity to compete

with the presidency and exchange banks. This segmentation let Lord

Curzon to observe, "In respect of banking it seems we are behind the

times. We are like some old fashioned sailing ship, divided by solid

wooden bulkheads into separate and cumbersome compartments."

The period between 1906 and 1911, saw the establishment of banks

inspired by the Swadeshi movement. The Swadeshi movement

inspired local businessmen and political figures to found banks of

and for the Indian community. A number of banks established then

have survived to the present such as Bank of India, Corporation

Bank, Indian Bank, Bank of Baroda, Canara Bankand Central

Bank of India.

The fervour of Swadeshi movement lead to establishing of many

private banks in Dakshina Kannada and Udupi district which were

unified earlier and known by the name South Canara ( South

Kanara ) district. Four nationalised banks started in this district and

also a leading private sector bank. Hence undivided Dakshina

Kannada district is known as "Cradle of Indian Banking".

During the First World War (19141918) through the end of the

Second World War(19391945), and two years thereafter until the

independence of India were challenging for Indian banking. The

years of the First World War were turbulent, and it took its toll with

banks simply collapsing despite the Indian economy gaining indirect

boost due to war-related economic activities. At least 94 banks in

India failed between 1913 and 1918 as indicated in the following

table:

Years No. of

Banks That

failed

Authorized

Capital (Rs. in

Lacks)

Paid-Up

Capital (Rs.

in Lacks)
http://en.wikipedia.org/wiki/Swadeshihttp://en.wikipedia.org/wiki/Bank_of_Indiahttp://en.wikipedia.org/wiki/Corporation_Bankhttp://en.wikipedia.org/wiki/Corporation_Bankhttp://en.wikipedia.org/wiki/Indian_Bankhttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Canara_Bankhttp://en.wikipedia.org/wiki/Central_Bank_of_Indiahttp://en.wikipedia.org/wiki/Central_Bank_of_Indiahttp://en.wikipedia.org/wiki/Dakshina_Kannadahttp://en.wikipedia.org/wiki/Udupi_districthttp://en.wikipedia.org/wiki/First_World_Warhttp://en.wikipedia.org/wiki/Second_World_Warhttp://en.wikipedia.org/wiki/Indian_independence_movementhttp://en.wikipedia.org/wiki/Economy_of_Indiahttp://en.wikipedia.org/wiki/Swadeshihttp://en.wikipedia.org/wiki/Bank_of_Indiahttp://en.wikipedia.org/wiki/Corporation_Bankhttp://en.wikipedia.org/wiki/Corporation_Bankhttp://en.wikipedia.org/wiki/Indian_Bankhttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Canara_Bankhttp://en.wikipedia.org/wiki/Central_Bank_of_Indiahttp://en.wikipedia.org/wiki/Central_Bank_of_Indiahttp://en.wikipedia.org/wiki/Dakshina_Kannadahttp://en.wikipedia.org/wiki/Udupi_districthttp://en.wikipedia.org/wiki/First_World_Warhttp://en.wikipedia.org/wiki/Second_World_Warhttp://en.wikipedia.org/wiki/Indian_independence_movementhttp://en.wikipedia.org/wiki/Economy_of_India


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1913 12 274 35

1914 42 710 109

1915 11 56 5

1916 13 231 4

1917 9 76 25

1918 7 200 1


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BANKING STRUCTURE IN INDIA

The reserve bank of India act as a centralized body monitoring any

discrepancies and short coming in the system. It is the foremost body

in the Indian financed sector. The nationalized banks (i.e.

government- owned banks) continue to dominate the Indian banking

arena. Industry estimate indicate that out of 274 commercial banks

operating in India, 223 banks are in the public sector and 51 are in

the private sector.

The private sector bank grid also includes 24 foreign banks that have

started their operation here. Under the ambit of the nationalized

banks come the specialized banking institutions. There co-operatives,

rural banks focus on areas, rural development etc.


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Liberalization

In the early 1990s, the thenNarasimha Rao government embarked ona policy ofliberalization, licensing a small number of private banks.

These came to be known as New Generation tech-savvy banks, and

included Global Trust Bank (the first of such new generation banks

to be set up), which later amalgamated with Oriental Bank of

Commerce, UTI Bank(since renamed Axis Bank), ICICI Bankand

HDFC Bank. This move, along with the rapid growth in the economy

of India, revitalized the banking sector in India, which has seen rapid

growth with strong contribution from all the three sectors of banks,namely, government banks, private banks and foreign banks.

The next stage for the Indian banking has been set up with the

proposed relaxation in the norms for Foreign Direct Investment,

where all Foreign Investors in banks may be given voting rights

which could exceed the present cap of 10%,at present it has gone up

to 74% with some restrictions.

The new policy shook the Banking sector in India completely.

Bankers, till this time, were used to the 4-6-4 method (Borrow at

4%;Lend at 6%;Go home at 4) of functioning. The new wave

ushered in a modern outlook and tech-savvy methods of working for

traditional banks. All this led to the retail boom in India. People not

just demanded more from their banks but also received more.

Currently (2010), banking in India is generally fairly mature in terms

of supply, product range and reach-even though reach in rural Indiastill remains a challenge for the private sector and foreign banks. In

terms of quality of assets and capital adequacy, Indian banks are

considered to have clean, strong and transparent balance sheets

relative to other banks in comparable economies in its region. The

Reserve Bank of India is an autonomous body, with minimal

pressure from the government. The stated policy of the Bank on the

Indian Rupee is to manage volatility but without any fixed exchange

rate-and this has mostly been true.
http://en.wikipedia.org/wiki/Narasimha_Raohttp://en.wikipedia.org/wiki/Liberalizationhttp://en.wikipedia.org/wiki/UTI_Bankhttp://en.wikipedia.org/wiki/Axis_Bankhttp://en.wikipedia.org/wiki/ICICI_Bankhttp://en.wikipedia.org/wiki/HDFC_Bankhttp://en.wikipedia.org/wiki/Economy_of_Indiahttp://en.wikipedia.org/wiki/Economy_of_Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Narasimha_Raohttp://en.wikipedia.org/wiki/Liberalizationhttp://en.wikipedia.org/wiki/UTI_Bankhttp://en.wikipedia.org/wiki/Axis_Bankhttp://en.wikipedia.org/wiki/ICICI_Bankhttp://en.wikipedia.org/wiki/HDFC_Bankhttp://en.wikipedia.org/wiki/Economy_of_Indiahttp://en.wikipedia.org/wiki/Economy_of_Indiahttp://en.wikipedia.org/wiki/India


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With the growth in the Indian economy expected to be strong for

quite some time-especially in its services sector-the demand for

banking services, especially retail banking, mortgages and

investment services are expected to be strong.

In March 2006, the Reserve Bank of India allowed Warburg Pincus

to increase its stake in Kotak Mahindra Bank (a private sector bank)

to 10%. This is the first time an investor has been allowed to hold

more than 5% in a private sector bank since the RBI announced

norms in 2005 that any stake exceeding 5% in the private sector

banks would need to be vetted by them.

In recent years critics have charged that the non-government ownedbanks are too aggressive in their loan recovery efforts in connection

with housing, vehicle and personal loans. There are press reports that

the banks' loan recovery efforts have driven defaulting borrowers to

suicide.
http://en.wikipedia.org/wiki/Retail_bankinghttp://en.wikipedia.org/wiki/Retail_banking


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ADOPTION OF BANKING TECHNOLOGY

The IT revolution had a great impact in the Indian banking system.

The use of computers had led to introduction of online banking in

India. The use of the modern innovation and computerization of the

banking sector of India has increased many fold after the economic

liberalization of 1991 as the country's banking sector has been

exposed to the world's market. The Indian banks were finding it

difficult to compete with the international banks in terms of the

customer service without the use of the information technology and

computers.

Number of branches of scheduled banks of India as of March 2005

The RBI in 1984 formed Committee on Mechanization in the

Banking Industry (1984)[6]

whose chairman was Dr C Rangarajan, Deputy Governor, ReserveBank of India. The major recommendations of this committee were

introducing MICR.

Technology in all the banks in the metropolis in India. This provided

use of standardized cheque forms and encoders.

In 1988, the RBI set up Committee on Computerization in Banks

(1988).
http://en.wikipedia.org/wiki/Banking_in_India#cite_note-5http://en.wikipedia.org/wiki/File:NUMBER_OF_BRANCHES.pnghttp://en.wikipedia.org/wiki/File:NUMBER_OF_BRANCHES.pnghttp://en.wikipedia.org/wiki/Banking_in_India#cite_note-5


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headed by Dr. C.R. Rangarajan which emphasized that settlement

operation must be computerized in the clearing houses of RBI in

Bhubaneswar, Guwahati, Jaipur, Patna and Thiruvananthapuram.

It further stated that there should be National Clearing of inter-citycheques at Kolkata, Mumbai, Delhi, Chennai and MICR should be

made Operational. It also focused on computerization of branches

and increasing connectivity among branches through computers. It

also suggested modalities for implementing on-line banking.

The committee submitted its reports in 1989 and computerization

began form 1993 with the settlement between IBA and bank

employees' association.[

In 1994, Committee on Technology Issues relating to Payments

System, Cheque Clearing and Securities Settlement in the Banking

Industry (1994)was set up with chairman Shri WS Saraf, Executive

Director, Reserve Bank of India. It emphasized on Electronic Funds

Transfer (EFT) system, with the BANKNET communications

network as its carrier. It also said that MICR clearing should be set

up in all branches of all banks with more than 100 branches.

Committee for proposing Legislation On Electronic Funds Transfer

and other Electronic Payments (1995) emphasized on EFT system.

Electronic banking refers to DOING BANKING by using

technologies like computers, internet and networking,MICR,EFT so

as to increase efficiency, quick service, productivity and

transparency in the transaction.

Number of ATMs of different Scheduled Commercial Banks Of

India as on end March 2005.
http://en.wikipedia.org/wiki/Banking_in_India#cite_note-autogenerated1-8http://en.wikipedia.org/wiki/File:NUMBER_OF_ATM.pnghttp://en.wikipedia.org/wiki/File:NUMBER_OF_ATM.pnghttp://en.wikipedia.org/wiki/Banking_in_India#cite_note-autogenerated1-8


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Apart from the above mentioned innovations the banks have been

selling the third party products like Mutual Funds, insurances to its

clients. Total numbers of ATMs installed in India by various banks

as on end March 2005 is 17,642.

The New Private Sector Banks in India is having the largest numbers

of ATMs which is fol off site ATM is highest for the SBI and its

subsidiaries and then it is followed by New Private Banks,

Nationalized banks and Foreign banks. While on site is highest for

the Nationalized banks of India.

BANK GROUPNUMBER OF

BRANCHES

ON

SITE

ATM

OFF

SITE

ATM

TOTAL

ATM

NATIONALISED

BANKS33627 3205 1567 4772

STATE BANK OF

INDIA13661 1548 3672 5220

OLD PRIVATESECTOR BANKS

4511 800 441 1241

NEW PRIVATE

SECTOR BANKS1685 1883 3729 5612

FOREIGN BANKS 242 218 579 797

USERS OF BANKING SERVICES


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The emerging trends in the level of expectation affect the

formulation of marketing mix. Innovative efforts become essential

the moment it finds a change in the level of expectations. There aretwo types of customers using the services of banks, such as general

customers and the industrial customers

General Users:

Persons having an account in the bank and using the banking

facilities at the terms and conditions fixed by a bank are known as

general users of the banking services. Generally, they are the usershaving small sized and less frequent transactions or availing very

limited services of banks.

Industrial Users:

The industrialists, entrepreneurs having an account in the bank and

using credit facilities and other services for their numerous

operations like establishments and expansion, mergers, acquisitions

etc. of their businesses are known as industrial users. Generally, they

are found a few but large sized customers.


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THE GROWTH DRIVERS OF THE INDIAN

BANKING INDUSTRY

High growth of Indian Economy:

The growth of the banking industry is closely linked with the growth

of the overall economy. India is one of the fastest growing

economies in the world and is set to remain on that path for many

years to come. This will be backed by the stellar growth in

infrastructure, industry, services and agriculture. This is expected to

boost the corporate credit growth in the economy and provideopportunities to banks to lend to fulfill these requirements in the

future.

Rising per capital income:

The rising per capita income will drive the growth of retail credit.

Indians have a conservative outlook towards credit except forhousing and other necessities. However, with an increase in

disposable income and increased exposure to a range of products,

consumers have shown a higher willingness to take credit,

particularly, young customers . Private Banks also have a much

higher share of the more profitable mass affluent segment.

New channel Mobile banking is expected to become the

second largest channel for banking after ATMs:

New channels used to offer banking services will drive the growth of

banking industry exponentially in the future by increasing

productivity and acquiring new customers. During the last decade,

banking through ATMs and internet has shown a tremendous

growth, which is still in the growth phase.


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After ATMs, mobile banking is expected to give another push to this

industry growth in a big way, with the help of new 3G and smart

phone technology (mobile usage has grown tremendously over the

years). This will help in acquiring new customers, mainly who live in

rural areas.

The IBA-FICCI-BCG report predicts that mobile banking would

become the second largest channel of banking after ATMs.

Financial Inclusion Program:

Currently, in India, 41% of the adult population doesnt have bankaccounts, which indicates a large untapped market for banking

players. Under the Financial Inclusion Program, using Information

and Communication Technology (ICT) to spread general banking

concepts to people in the under-banked areas. All these initiatives of

promoting rural banking are taken with the help of mobile banking,

self help groups, microfinance institutions, etc. Financial Inclusion,

on the one side, helps corporate in fulfilling their social

responsibilities and on the other side it is fueling growth in otherindustries and so as a whole economy.


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CHALLENGES FACING BY BANKING

INDUSTRY

The bank marketing is than an approach to market the servicesprofitability. It is a device to maintain commercial viability. The

changing perception of bank marketing has made it a social process.

The significant properties of the holistic concept of management and

marketing has made bank marketing a device to establish a balance

between the commercial and social considerations, often considered

to the be opposite of each other. A collaboration of two words banks

and marketing thus focuses our attention on the following:

* Bank marketing is a managerial approach to survive in highly

competitive market as well as reliable service delivery to target

customers.

* It is a fair way of making profits

* It is an art to make possible performance-orientation.

* It is a professionally tested skill to excel competition.


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CHAPTER 2

ABOUT PANJAB NATIONAL BANK
http://en.wikipedia.org/wiki/File:Pnblogo.jpg


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INTRODUCTION OF THE PANJAB NATIONAL BANK

PNB was founded in the year 1895 at Lahore (presently in Pakistan) asan off-shoot of the Swadeshi Movement. Among the inspired founderswere Sardar Dayal Singh Majithia, Lala HarKishen Lal, Lala Lalchand, ShriKali Prosanna Roy, Shri E.C. Jessawala, Shri Prabhu Dayal, BakshiJaishiRam,LalaDholanDass.

With a common missionary zeal they set about establishing a nationalbank; the first one with Indian capital owned, managed and operatedby the Indians for the benefit of the Indians. The Lion of Punjab, LalaLajpat Rai, was actively associated with

Lala Lajpat Rai

the management of the Bank in its formative years.

The Bank made steady progress right from its inception. It has shownresilience to tide over many a crisis. It withstood the crisis in bankingindustry of 1913 and the severe depression of the thirties.

It survived the most critical period in its history the Partition of 1947 when it was uprooted from its major area of operations. It was thefarsightedness of the management that the registered office of the Bank

was shifted from Lahore to Delhi in June 1947

even before theannouncement of the Partition.


23/96


24/96

HISTORY OF THE BANK

PUNJAB NATIONAL BANK: FIRST OFFICE

The first office of pnb at Ganpatrai Road, Lahore


25/96

1895 PNB established in Lahore.

1904 PNB established branches in Karachi and Peshawar.

1939 PNB acquired Bhagwan Dass Bank Limited.

1947 Partition of India and Pakistan at Independence. PNB lost itspremises in Lahore, but continued to operate in Pakistan.

1960 PNB amalgamated Indo-Commercial Bank Limited (established in

1933) in a rescue.

1961 PNB acquired Universal Bank of India.

1963 The Government of Burma nationalized PNB's branch in Rangoon(Yangon).1965 After the Indo-Pak war the government of Pakistan seized all theoffices in Pakistan of Indian banks, including PNB's head office, whichmay have moved to Karachi. PNB also had branches in East Pakistan(Bangladesh).

1969 The Government of India nationalized PNB and 13 other majorbanks on 19th July, 1969.

1978 PNB opened a branch in London.

1986 The Reserve Bank of India required PNB to transfer its Londonbranch to State Bank of India after the branch was involved in a fraudscandal.1988PNB acquired Hindustan Commercial Bank Limited in a rescue.

1993 PNB acquired New Bank of India, which the Government of Indiahad nationalized in 1980.1998PNB set up a representative office in Amity, Kazakhstan.2003PNB took over Nedungadi Bank (established the bank in 1899), theoldest private sector bank in Kerala. It was incorporated in 1913 and in1965 had acquired selected assets and deposits of the CoimbatoreNational Bank. At the time of the merger with PNB, Nedungadi Bank'sshares had zero value, with the result that its shareholders received nopayment for their shares.


26/96

KEY EXECUTIVE :

DESIGNATION NAME

CHAIRMAN & MANAGING DIRECTOR K.R.KAMATH

DIRECTOR(WORKMAN EMPLOYEE) MOHINDER PAUL

SINGH

DIRECTOR(OFFICER EMPLOYEE) PRADEEP KUMAR

NOMINEE JASIR SINGH

Sardar Dayal

Majithia

Lala HarKishenLal

E.C. JessawalaRai Bahadur Lala

Lalchand

Kali ProsannaRoy

Lala Prabhu Dayal Bakshi JaishiRam

Lala Dholan Dass


27/96

Awards

Punjab National Bank has achieved many awards and distinctions.

Major among them are:

Ranked 21st amongst top 500 companies by the leading

financial daily, Economic Times.

Ranked as 323rd biggest bank in the world by Bankers

Almanac (January 2006), London.

Earned 9th place among India's Most Trusted top 50 service

brands in Economic Times- A.C Nielson Survey.

Ranked 368 amongst the top 1000 banks in the world

according to "The Banker" London.

Golden Peacock Award for Excellence in Corporate

Governance - 2005 by Institute of Directors.

FICCI's Rural Development Award for Excellence in Rural

Development - 2005.


28/96

UNITS

Punjab National Bank Branches

Find the detailed list of all the major PNB Bank branches in India.

Business.mapsofindia provides names, and contact information of all thewell-renowned banks in Delhi and other cities of India.

PNB Bank Branches in Assam

PNB Bank Branches in Andhra Pradesh

PNB Bank Branches in Bihar

PNB Bank Branches in Chandigarh

PNB Bank Branches in Chhattisgarh

PNB Bank Branches in Delhi

PNB Bank Branches in Goa

PNB Bank Branches in Gujarat

PNB Bank Branches in Haryana

PNB Bank Branches in Himachal Pradesh

PNB Bank Branches in Jammu Kashmir
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PNB Bank Branches in Jharkhand

PNB Bank Branches in Karnataka

PNB Bank Branches in Kerala

PNB Bank Branches in Madhya Pradesh

PNB Bank Branches in Maharashtra

PNB Bank Branches in Meghalaya

PNB Bank Branches in Orissa

PNB Bank Branches in Pondicherry

PNB Bank Branches in Punjab

PNB Bank Branches in Rajasthan

PNB Bank Branches in Sikkim

PNB Bank Branches in Tamilnadu

PNB Bank Branches in Tripura

PNB Bank Branches in Uttar Pradesh

PNB Bank Branches in Uttaranchal

PNB Bank Branches in West Bengal
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CHAPTER - 3

INTRODUCTION

OFEMPLOYEE WELFARE FACILITY


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DEFINATION:

Employee welfare is a comprehensive term including various services,

benefits and facilities offered to employees & by the employers. Through

such generous fringe benefits the employer makes life worth living for

employees.

All the benefits which are monetary or non monetary but not the part of direct

salary are called as employee benefits. In short all the fringe benefits

provided to the employees by an organization are called as employeebenefits.

Welfare includes anything that is done for the comfort and improvement of

employees and is provided over and above the wages. Welfare helps in

keeping the morale and motivation of the employees high so as to retain the

employees for longer duration. The welfare measures need not be in

monetary terms only but in any kind/forms. Employee welfare includes

monitoring of working conditions, creation of industrial harmony through

infrastructure for health, industrial relations and insurance against disease,

accident and unemployment fortheworkersandtheirfamilies.

Employee welfare entails all those activities of employer which are directed

towards providing the employees with certain facilities and services in

additiontowagesorsalaries.

The very logic behind providing welfare schemes is to create efficient,

healthy, loyal and satisfied labor force for the organization. The purpose of

providing such facilities is to make their work life better and also to raise

their standard of living.


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INTRODUCTION

The principal activities for the welfare, Benefits and Compliance

Division are the development, implementation and maintenance of a

competitive and benefits scheme and programs that will enable the

Bank to attract, recruit, motivate and retain highly qualified people.The Division is also responsible for job classifications and

management of merit-based pay system in line with Banks policy of

reinforcing pay for better performance. The division takes a lead in

developing compensation packages and reward systems that enable

the Bank to attract, motivate and retain high performing quality staff.

The Division takes leadership in identification and recommendation

of competitive pay and rewards systems in line with the current

trends in similar organizations. The Bank's comprehensive benefitsprogram includes health and life insurance coverage, pension

benefits, income protection in the event of short and long-term

disabilities, and benefits for employee education and retirement

facility, library scheme, award facility and canteen facility etc.

These activities are detailed as follows:

Provide prompt, efficient and effective welfare and pay

administration in accordance with applicable laws, rules and

procedures for the benefit of employees of the Bank.

administer the Banks policy for granting financial assistance to

staff members through payroll advances vehicle loan,

installation and household equipment advance, normal advance

and special advance;

manage the various staff benefits home leave, home leaveallowance, maternity leave, dependency allowance, and


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education facility, etc. - in accordance with Bank policies,

procedures and practices;

Undertake job evaluation and grading that ensures equity in the

grading. This involves classifying positions, evaluating jobs,

developing classification standards, competencies and

specifications.

develop and recommend rewards that recognizes, rewards and

enhances performance; reinforce organizational values such as

excellence, teamwork, client orientation, and also motivate

staff to achieve higher productivity;

staff benefits managed in the payroll such as pension

contributions, recoveries, etc;

administer the Banks claim settlements for Group Life and

Group Personal Accident for permanent staff, official visitors,

staff on consultants and short-term staff;

prepare reports on all accidents and deaths to insurance the

broker and follow up cases until beneficiaries are paid;

develop and recommend other performance based reward and

recognition systems geared at enhancing productivity and

reinforcement of good organizational .


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DIFFERENT WELFARE SCHEMES

OF

THE BANK

1. MEMENTO TO EMPLOYEES ON RETIREMENT :

All the employees who retire upon attaining the age of superannuation

after putting in 15 years of service are given a token gift of Rs. 2000/-

w..e.f. 19.4.2000 and in his honors a farewell is also organized at the

office of his posting to which bank contributes Rs. 5/- per employee.

The extant scheme for providing memento to the employees on

retirement have been circulated vide PD Circular No. 1719 dated

26.4.2000.

A token gift of value of Rs. 2000/- is given to the retiring employee.

The article og gift may be purchased to meet expenditure for

arranging farewell party.

A farewell party may be organized at the branch/office and bank

may contribute @ Rs. 20/- per employee to meet expenditure for

arranging farewell party.


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2. SCHOLARSHIP SCHEME :

The Scheme provides that financial assistance to

one talented child of subordinate staff for graduation/one talented child of

award/officer staff by way of reimbursement for Graduation or Post

Graduation in Medicine, Engineering, Architecture, Agriculture,

Computer and Post Graduation in Management and Post Graduation

Diploma of two years in the Management from any recognized University

and/or from an Institution recognized by All India Council for Technical

Education including Chartered Accountancy, subject to the terms and

conditions prescribed in the Scheme. The financial assistance in respect

of Graduation is subject to maximum limit of Rs. 2000/- p.a. and in

respect of technical education, the amount has been restricted to Rs.

3500/- p.a. for one child of an employee. The Scheme has been

introduced from the academic session 1999-2000. The benefit of the

Scholarship Scheme is available to all employees of the bank irrespective

of the cadre.

The detailed guidelines in this regard have been circulated vide PD

Circular No. 1731 dated 6.6.2000.


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3. SCHEME FOR PAYMENT OF EX-GRATIA:

In order to provide immediate financial assistance to the

family of the employee who dies while in the service, the

Bank provides the following ex-gratia amounts w.e.f.1.4.98:-

S.No. Cadre Amount of Ex-gratia payable

1. Subordinate Cadre Rs. 15,000/-

2. Clerical Cadre Rs. 24,000/-

3. Officer Cadre Rs. 45,000/-

There is also provision to make lump sum payment of Rs.

5000/- to the family of the employee who dies while in the

service of the Bank to meet the immediate expenses relating

to funeral and other religious rituals.

The guidelines in this regard have been circulated vide PD

Circular No. 1634 dated 22.8.98 & 1635 dated 28.8.98.


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4 SILVER JUBILE AWARD :

In order to recognize the long service put in by the employees, the Bank

has a Scheme to honor the employees on completion of 25 years of

unblemished service by giving a memento in the form of an article like

Wristwatches, Silver Salver or any other article of the employees choice

of the value no exceeding Rs. 2000/-. The Scheme also provides that the

honor is to be bestowed upon an employee in a simple function at the

branch/office during which light refreshment is also to be served towards

which the bank contributes Rs. 5/- per employee at the said office.

The extant guidelines in respect of the aforesaid Scheme have been

circulated vide PD Circular No. 1763 dated 8.12.2000. 1432 dated

28.6.94 and PD Circular No. 1512 dated 21.8.95.


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5 HOLIDAY HOMES :

The Bank has holiday homes at various

stations throughout the country to provide accommodation to the employee

including retired employees and their family at reasonable charges of Rs. 50/-

per day per room. Presently the bank has holidays homes at the following

centers:

a. Agra

b. Dalhousie

c. Darjeeling

d. Delhi

e. Goa

f. Jaipur

g. Kanyakumari

h. Mahabaleshwar

i. Manali

j. Mount Abu

k. Mussoorie

l. Nainital

m. Ooty

n. Panchmari


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o. Rajgir

p. Shimla

q. Udaipur

In terms of the Scheme an employee including a retired employee

can request for allotment of a room at any of the3 aforesaid holiday

homes for the period not less than 3 days and not more than 2

weeks, restricting to one week during the months of April to July.

The detailed guidelines have been circulated vide PD Circular No. 786

dated 2.8.84, PD Circular No. 1538 dated 8.4.96 and PD Circular No 1707

dated 9.3.2000.


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6 LIBRARY FACILITIES AT THE BRANCHES/OFFICE:

The Scheme provides for the library facilities at the branches/offices to enrich

the functional knowledge and skill of the employees and also to enable the

employees to prepare for examinations of CAIIB and internal promo motions.

The limits for purchase of books and economic and banking journals have

been as under:

Class of Branch Value of books per

Calendar year

Value of Journals

per Half year i.e. 1st

Jan. to 30th June and

1st July to 31st

December

Exceptionally/verylarge

Rs. 1250/- Rs. 125/-

Large Rs. 950/- Rs. 90/-

Medium Rs. 625/- Rs. 60/-

Small Rs. 350/- Rs. 30/-

The above limits of expenditure are in addition to the dailies

and light journals as permitted by the Regional Manager.

The guidelines of the Scheme have been circulated vide PD

Circular No. 938 dated 15.51986.


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7 CANTEEN FACILITIES FOR THE STAFF :

Bank is providing the canteen facilities to the employees at all the

offices of the Bank. In terms of the Scheme the Bank provides:-

Cash subsidy at the rate of Rs. 60/- per employee

per month at the branches/offices situated at

Metropolitan and Urban centers and Rs. 50/- per

employee per month at the Offices/Branches situated

at Semi-urban and Rural areas w.e.f. 1.8.1998.

Free electricity/kerosene oil/fuel expenses forrunning the canteen.

The guidelines pertaining to the scheme for providing canteen

facilities at the Branches/Offices have been Circulated vide

PDCL No. 1798 dated 28.8.98.


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8 FACILITY OF PART TIME MEDICAL

CONSULTANTS AT REGIONAL/ZONAL OFFICES:

Bank started the facility of part-time medical consultant at staff trainingcollege, Delhi in the year 1982 and with the passage of time its coverage

has been extended to all Regional/Zonal Offices and some other

administrative offices of the bank.The part-time medical consultants are also provided some medical

equipment like ecg machine etc. and medicines for distribution to staff

members and their families at banks clinics.

At present the facilities of part-time medical consultants are available at

the following stations/offices.

1. Head office building at Bhikhaiji Cama Place, Parliament Street and

Rajendra place, New Delhi.

2. Central staff college, Delhi.

3. RSC, Belapur.

4. All Zonal Headquarters (including Delhi).

5. At all Regional Headquarters (except at stations where Zonal

Headquarter are also situated).


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9. SCHEME FOR ADJUSTMENT OF OUTSTANDING

OF HOUSE BUILDING LOAN IN THE EVENT OF

DEATH OF AN EMPLOYEE WHILE IN SERVICE :

The Scheme provides of adjustment of outstanding of house

building loan taken by an employee in the event of his death while

in the service of the bank to the extent of 50 per cent of the

outstanding housing loan as on the date of death of the employee

OR Rs. 2 Lacs whichever is less.

The above Scheme has been introduced on experimental basis to

cover the death of the employees form 1.4.2000 to 31.3.2001.


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10. PNB OFFICERS CONTRIBUTORY BENEFIT FUND

RULES & REGULATIONS

The PNB Officers Contributory Benefit Fund has been created with

contribution from member officers to provide help and succor to the

Members and their family, in the shape of financial assistance to the family in

the unfortunate event of the untimely death of a member, or asreimbursement to the Member for expenses incurred for medical treatment of

his/her self and family.

1. FUND:

The Fund shall be known as PUNJAB NATIONAL BANK

OFFICERS CONTRIBUTORY BENEFIT FUND (Hereinafter

for brevity called The Fund).

2. OBJECTIVES OF THE FUND:

The objectives of the Fund are: -

a) To pay lump sum amount to the family in case of the

unfortunate event of the premature death of any member officer

during employment.

b) To provide help and succor to the member officers who

need financial assistance for medical treatment of Self/ Spouse/

Minor Children.


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3. DEFINITIONS:

In these Rules and Regulations, the following words and expressionsshall have the meaning assigned to them, as follows, unless there is

something repugnant in the subject of context:

i. Bank means Punjab National Bank

ii. Officers mean all the Officers including specialist

officers in service of the Bank.

iii. Member means an officer who agrees to become a

member of the Fund, by paying the annual contribution for that

year, payable in January.

iv. Governing Body means the body designated to

formulate the norms to administer the Fund.

v. Contribution means payments made by the member

officers to the Fund.

vi. Fund means Punjab National Bank Officers

Contributory Benefit Fund.

vii. Family for which reimbursement may be allowed from

the Fund would consist of the spouse, i.e. the wife/ husband and

minor children less than 18 years of age. Age of such children

would be calculated, as applicable as on the date of cause of

action.

viii. Year shall mean a calendar year.


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4. MEMBERSHIP & CONTRIBUTION:

a) All Officers of the Bank as on 01.01.2006, that is the date whenthis scheme comes into effect, would be deemed to be members

of the Fund, and beginning January 2006, their annual

contribution to the Fund shall be deducted from their salary of

January each year, unless the officer furnishes a written request

to exempt him/her from the membership of the Fund, and not to

deduct the annual contribution to the Fund from his/her salary.

Officers joining the service of the Bank subsequently shall also

be eligible to become members of the Fund provided the annual

contribution to the Fund is deducted from their salary in January.

b) The Annual Membership Contribution to the Fund, would be

Rs.500/- (Rupees Five Hundred only) per member, to be paid

through the salary of January every year. This amount may be

reviewed/revised by the Governing Body from time to time.

c) The amount of membership to the Fund is to be credited by the

Zones and Head Office Divisions, directly into the designated

CBS Account of the Fund, within February 15th each year.

d) The payment of the annual contribution to the Fund in January

makes an officer a member of the Fund for that calendar year.

e) An officer shall cease to be member of the Fund if he ceases to

be in employment for any reason whatsoever or he does not

make two successive contributions to the Fund.

f) An officer who proceeds on sabbatical leave shall not be

eligible to receive assistance under the Scheme during the period

of his leave. However, on resumption of duties, he may renew

his membership of the Fund.


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The request for relief in aforesaid cases would be considered, only

in cases where the amount notreimbursed owing to sub-ceilings

in the Officers Service Regulation and the PNB Officers

Hospitalization Contributory Scheme, as applicable to the memberofficer, is more than Rs.10,000 (Rupees Ten Thousands).

d. The quantum of relief from the Fund would be admissible as

per the lowest out of the following stipulated conditions:

1. Quantum of reimbursement from the Fund not to

exceed the amount of reimbursement allowed under the

Service Regulations and the Contributory HospitalizationScheme.

2. Financial assistance can be extended for up to 75%

of the admissible amount left uncovered owing to sub-

ceilings after reimbursement received under the Officers

Service Regulation and the Contributory Hospitalization

Scheme.

3. The maximum quantum of assistance allowable to a

member towards medical reimbursements for self and

family members during a calendar year, would be

Rs.50,000* per member.

4. However, in cases involving Super Specialized

Medical Assistance, as in the following cases of:

By Pass Heart Surgery Operations of Brain / Lung

Cancer Operations

Kidney / Liver / Bone Marrow Transplants

Multiple Fractures ( where time taken for

surgical operation is more than three hours)

the maximum quantum of reimbursement shall be for up

to Rs.75,000* ( Rupees seventy five thousands only) per


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Employee, for self and family of a member, during a

calendar year.

## The amounts mentioned with an (*) are tentative amounts,

which would be reviewed by the Governing Body from time

to time. These amounts may be revised upwards /

downwards, depending upon the position of the Fund.

iii) For diseases covered under Super Specialized medical

treatment as defined at point no. 5 ii, d 4) as above, in

deserving cases, where the quantum of reimbursement sought is

Rupees Seventy Five Thousands or more, the Governing Bodymay consider extending an advance of up to 50% of the

amount otherwise eligible for reimbursement from the Fund.

This advance would be subject to the final settlement of the

claim of the member from the Fund, as specified under Point

No. 6 as under.

Application for receiving advance may be sent directly to the

Governing Body, through the controlling authority of the

member.

The Governing Body, may take a view regarding the settlement of

claims of members, even within the calendar year in which cause of

action has arisen for which claim is preferred, in cases other than death

of members also, keeping in view the quantum of claims lodged and

position of the Fund.

6. SETTLEMENT OF CLAIM:

The eligibility for receiving assistance and quantum of the financial

assistance to be extended by the Fund will be determined by the

Governing Body after taking into account the eligibility under the

norms for that particular purpose and the availability of funds.

7. ELIGIBILITY FOR RECEIVING ASSISTANCE FROM THE

FUND:


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To receive assistance under the Fund, the employee should be an

existing member of the Fund and should have made at least two

contributions continuously preceding the cause of action.

However, in the case of death of members, payment of only the

current contribution to the Fund would be sufficient.

Eligibility to receive assistance from the fund would depend upon the

date of cause of action and not as per the date of application.

It is clarified that cause of action in the case of death would be thedate of expiry of the officer, while for reimbursement of

hospitalization expenses it would be the date of last sanction of

claim for reimbursement of Hospitalization Expenses preferred by the

officer, either under OSR / Hospitalization Contributory Scheme, as

the case may be.

8. GENERATION OF CLAIM WITH TIME FRAME IN CASE OF

REIMBURSEMENT OF HOSPITALIZATION EXPENSES:

Proposals seeking reimbursement from the Fund on behalf of the

eligible member officers are to be directly sent by the office

sanctioning the Hospitalization Claim of the concerned member

officer. Such sanctioning authority for officers in a Zone is the Zonal

Office, and the concerned Division for officers working in Head Office

Divisions.

Such claims are to be preferred in the designated format as perAnnexure A as enclosed, in a hard copy as well as a soft copy, by the

concerned Zonal Office / Head Office Division, and sent to the HRD

Division, Head Office, under the signature of DGM/AGM of Zonal

Office/ Chief of the Head Office Division, within the time frame

stipulated as under:
https://10.192.155.163/itc/hrd/hrd2007421ann01.asphttps://10.192.155.163/itc/hrd/hrd2007421ann01.asp


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For cause of action as arisen in a

particular calendar year :

List seeking

reimbursement

to be sent to HRD

Divn. HO Within

Between 1st January and 31st December 31st January of the

succeeding year.

Manager Staff at the ZO / HO Division would be responsible for

ensuring that all eligible claims are submitted to HRD Division Head

Office, within the time frame specified as above, as cases reported later

may have to be turned down, owing to the Funds pertaining to thatparticular year being depleted.

Exceptions may be made only in the case of death of a member, where

subject to the fulfillment of the eligibility criterion, financial assistance

may be extended to the family from the Fund, even where cause of

action pertains to a previous year.

Additionally, in case of officers who expire while in harness, thehospitalization expenses incurred before the death of the officer, would

be considered in terms of the scheme, as per his/her eligibility under

the scheme. As such, proposals for reimbursement from the scheme in

such cases be sent as soon as the same has been settled under the

provisions of OSR/Hospitalization Contributory Benefit Scheme for

officers, without waiting for the proposal to be submitted after the end

of the year.

9. PROCEDURE FOR AVAILING BENEFIT:

For officers who are members of the Fund and are eligible to receive

benefits under the rules, proposals may be moved with regard to the

cause of action and time frame as specified above at point no. 7 and 8

above by the concerned Zonal Office/ Head Office Division, to the

HRD Division Head Office in the enclosed Performa at Annexure A.


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Reimbursement claims may only be sent in the prescribed Performa.

Copies or originals of hospitalization claim document/sanction letter of

the authority/bills of medicines etc. need not be sent. The Performa

may be sent to the HRD Division, Head Office, under the signature of

the DGM/AGM at Zonal Office / Chief Manager of the Head OfficeDivision.

The Convener at HRD Division, Head Office, shall process and put up

the claims of the members before the Governing Body of the Fund for

consideration, on an annual basis.

The Governing Body may consider the applications received, in a

meeting held for the purpose or by circulation amongst the membersand take a view on the benefits claimed by the member employee.

Decision of the Governing Body in respect of all the applications

received from the member employees seeking financial assistance/

relief regarding eligibility and quantum of assistance from the Fund,

shall be final.

10. MEMBER OFFICERS TO BE BOUND BY THE RULES:

Every member officer eligible to participate in the Fund and to receive

benefits from the Fund, shall be bound in all matters relating thereto,

by the rules and regulations related to the Fund, in force from time to

time.

Any officer who voluntarily ceases to be a member of the Fund shallnot be eligible to rejoin the fund except with the prior written

permission of the Governing Body.

Contribution to the Fund once received from an officer shall not be

refunded under any circumstances.


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In case of a member who has received reimbursement from the fund,

irrespective of amount & purpose, excepting in case of

death/superannuation, the amount reimbursed from the fund would be

recovered from the member, in case the annual contribution to the fund

is not paid for the succeeding three years of receiving suchreimbursement from the fund. This clause is applicable for each

reimbursement received from the fund.

11. BANK ACCOUNT OF THE FUND

The contribution received from the members shall be kept in a

Designated CBS sweep account with BO: Bhikaji Cama Place, NewDelhi or with any other branch of Punjab National Bank or any

subsidiary of Punjab National Bank operating in the State of Delhi.

The Fund shall be operated jointly by any two authorized

signatories. These Authorized Signatories may be decided by the

Governing Body of the Fund.

12. MANAGEMENT & DISSOLUTION OF THE FUND:

a. The administrative business of the Fund shall be carried out by a

Governing Body consisting of an officer representative as

nominated by the General Secretary of the Majority Officers

Association, DGM / AGM of HRD Divn and CHIEF-HRD at Head

Office, who shall be the Convener of the Governing Body. The

Governing Body may authorize some other member to act as

convener in absence of CHIEF-HRD.

b. Quorum for the meeting shall be formed by any two designated

member at point no. 12 a) as above, including the Association

Representative.

c. For meetings where Policy Matters relating to the Fund are to be

discussed / formulated, apart from the members mentioned at point

12 a) above, it would be mandatory to co-opt General Manager


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HRD at Head Office and the General Secretary of the majority

Officers Association for such a meeting.

d. The Governing Body shall have the authority to make or amend

the existing rules for proper administration of the Fund and for

allowing the benefits to the member employees in terms of the

objects of the Fund.

e. The Governing Body may at any time dissolve the Fund and

dispose of the accumulated Funds in any manner, which it feels, is

suitable and appropriate.


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10. Self Financed Group Insurance Scheme for Award

Staff:

The Bank has taken group personal accident insurance policy on

behalf of the member employee from National Insurance

Company Ltd. For the period of one year w.e.f. 1.1.2001 to cover

the death due to an accident or permanent total disablement due

to accident etc. against the premium of Rs.50 per annum per

employee.

The scope of coverage and the sum insured in terms of the said

policy is as under:

The scheme has been circulated vide HRD Circular No.1 dated

5.1.2001.

S.No. Scope of cover Sum Insured

1. Death due to accident Rs.2,11,000/-2. Permanent total disablement due to

accident

Rs.2,11,000/-


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11. SELF INANCED INSURANCE SCHEME FOR

OFFICE

The Bank has taken group personal accidence insurance policy on

behalf of the member Officer employees from M/S National

Insurance Co. Limited for the period of one year w.e.f.

01.07.2001 to cover the death due to an accident or permanenttotal disablement due to accident etc. The premium to be

deducted from the salary of the Officer is Rs.50 per annum.

The scope of coverage and the sum insured in terms of the said

policy is as under:

S.No. Scope of Cover Sum Insured Percentage(%)

benefits

1. Death due to accident Rs.1,45,000/- 100%

2. Permanent total

disablement due to

accident

Rs.1,45,000/- 100%

3. Loss of one eye or one

limb

Rs.70,000/- 50%

4. Loss of two limbs or

one eye and one limb

or two eyes

Rs.1,40,000/- 100%

5. For carriage of dead

body of the insuredperson to the place of

residence

Rs.1000/- 2%

The detailed scheme has been circulated vide HRD Division Circular

No.1735 dated 09.07.2001 which also includes payment of compensation in

some of the cases in partial disability.


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12. EMPLOYEE SUGGESTION SCHEME

The employee suggestion scheme was

formulated with a view to encourage member of staff to offer

suggestion for improving the system and procedure of the bank or

services to the clientele and its salient feature were reiterated though

inspection & control division circular no. 21/98 dt.8.10.98.

The cash prize under the scheme has been revised vide I &C Division

circular no. 18/2003 dt. 11.06.2003.

All members off staff expect those working in the system review

section of i&c Division may give suggestion on the

improvement/simplification of system and procedure under the

scheme.

If the suggestion of the employee is accepted for implement in the

bank, the employee would be suitably awarded the amount of award

ranging from Rs.10000/- depending upon the value of the suggestion to

the bank.

The employee may send their suggestion to Inspection & Control

Division, Ho for examination.


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13. BEST BRANCH AWARD SCHEME :

This scheme was introduced in 1975 and the

modified scheme has been circulated through Retail

Banking Division - Deposit No. 4/2003 dt. 29.01.2003.

All profit making rural/semi-urban branches (having total

working of not less than Rs. 1.00 crore) and urban/metro

branches (having total working of not less than Rs. 2.00

crore) as at the close of preceding year can participate for

the award except those opened during the current year or

the preceding year. only those branches which have

achieved the annual targets of retail lending and reducing in

the level of NPAs Will be eligible. Specialized branches like

international banking branches, LCBs, MCBs, Signature

branches etc., are excluded from the scheme.

All permanent employees who remained posted at the

winning branches for more than 6 months and incumbents in

charge who have worked for more than 3 months and also at

the close of half year are eligible for the prize. Internal

auditors who have been posted at such branches for at least

6 months are also eligible for the prize.

The scheme is divided in to two parts - Ruler/Metro categories

at Regional and All India level. The scheme provides for the

award of prizes in kind to all member of staff of those

branches which rank 1st, 2nd,& 3rd in their respected


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Regional or at all India level. Further, Chairman's Silver Shield

will be branches standing first on all India bases in both the

categories.

14. BEST PERFORMANCE AWARD IN MANAGEMENT

OF NPAs:

The scheme to motivate the entire work force

for recovery of NPAs has been introduced and circulated

through Protested Advances Division Circular no. 6/2001 dt.

10.5.2001.

Branches which are minimum 4 year old and have minimum

credit portfolio of Rs 1.5 crore (average on weekly basis) in

Rural/semi urban areas and Rs. 4.0 crore (average on weekly

basis) in urban/metro areas can participate for consideration

of award under this scheme.

The reducing in existing NPAs as should be the net reducingat the end of the year and it should be minimum 25% during

the year of the evaluation without considering the NPAs

account/amount transferring to the branches.

Selection of 1st, 2nd and 3rd branches at Regional/zonal/HO

level under rural/semi urban and urban/metro categories will

be done as per laid down procedures by the committees


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constituted for this purpose at each level.

Two branches each for 1st, 2nd, out of RULAR/SEMI URBAN

branches and urban/metro branches will be selected for the

award at Regional/zonal/HO level respectably by the

committees. In the same manner 3rd best branches will be

selected for consolation prize in the form of commendation

certificate at regional and zonal/level.

A staff member should have a minimum of 6 months stay in

the winning branch, during the evaluation period for receiving

the prize.

The 1st and 2nd prize will be given in kind to all employee of the branches

selected at each level by the comities constituted for this purpose in terms of

specified value of prize detail of which are given in the circular.

There are other additional incentives for the branches adjusted as 1st and 2nd

at Regional level like enhanced power of sumptuary of the incumbent in

charge, conveyance (general) and stationary locally purchased.

The group photographs oh the winning branches (including consolation

prize), adjudged at all India level and list of all winning branches will be

published in the staff journal with adequate coverage.


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15. Scheme for membership of chairman club :

This scheme has been introduced from the new beginning from

1st April 2001 through HRD Division circular no. 15 dt. 3.5.2001. the

modified scheme for the two year 2002-2003 and 2003-2004 has beencirculated vide HRD Division cir No.76 dated 9.5.2002. Amendment in the

scheme have been circulated vide HRD Division no 145 dt 13.05.2003 & 170

dt. 01.11.2003.

Under the modified scheme, there are two tiers namely Chairmans Club and

Zonal Manager's Club.

Incumbents in charge of branches which secure 1st, 2nd 3rd position under

best branches award scheme. EI. Bs/VI.Bs adjudged 1st, 2nd, & 3rd at all

India level under special category of EI.Bs/VLBs will be inducted to

chairman club. also incumbents in charge of signature branches securing 1st,

2nd, & 3rd position under best signature branch award scheme at All India

level will be given membership of chairman's club.

The performance of each of the selected officers will be appreciated through


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a certificate signed by the chairman and managing director for members of

Chairmans Club and by Zonal Manager for the Zonal Managers Club.

Each one year tenure in charge inducted to chairman's club will be given a

maroon colored blazer with specially designed insignia up to the cost of Rs.

3000/- .

officer who become members of the chairman's club and/or zonal managers

club for 3 year in succession will be given and additional prize of Rs 5000/- .

16. FACILITY NEWSPAPERS TO OFFICERS AT THEIR

RESIDENCE

The Reimbursement ceiling in respect of newspaper, magazines have been

clubbed and the ceiling in respect of officers in different scale/grade would

be as under. The officers need not to produce the relative bills. The amount is

reimbursable on certificate basis as per specimen appended.

Scale ceiling

1st Rs.250/-PM

2nd & 3rd Rs.400/-PM

4TH & 5TH Rs.600/-PM


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17. Silver jubilee award of pnb:

In lieu presenting a token gift at the time of retirement, every employee

whether of subordinate, clerical or supervising cadre will be given silver

jubilee award on completion of 25 years of unblemished services? The award

may be in the form of a gold coin of an intrinsic value of Rs 2500/- or in the

vouchers worth Rs 2500/- of some prominent store with a wide range of

choice gift items. The choice may leave to the employee. The award

however, not be given in cash.


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18. HILL & FUEL FACILITY

a) Altitude of 3000 Meters and above 5.0% of Pay -

Max. Rs.1150/- p.m.

b) Altitude of 1500 Meters and above 2.5% of Pay -

but less than 3000 Meters max. Rs.500/- p.m.

c) Altitude of 1000Mmetres and above 2.0% of Pay -

But less than 1500 Meters max. Rs. 400/- p.m.

NOTE:


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4. Restricted Holidays: 6 days in a year for festivals not declared as

holidays under the Negotiable Instruments Act.

The leave so calculated should be credited to the leave account of the Officeron a consolidated basis. The Officer should be eligible to avail the leave on

the basis of his requirement. The intermediate holidays and weekly-off

should not be counted as leave. The Officer should have the opportunity of

enchasing the balance available in the consolidated leave account once in a

year to the extent of 50% of the leave available in his account at the

beginning of the subsequent year. Further, an officer should be permitted to

encase the entire leave at his credit at the time of retirement and no ceiling

should be imposed for accumulation of leave.

21. CASH AWARD TO PROMOTEE OFFICERS

MANAGEMENT TRAINEES AND PROMOTEE CLERKS:

This scheme has been in operation from the year 1986 through PD Circular

no. 948 dt. 17.7.1986 and revised through HRDD Circular no. 181 dt.

28.11.2003.

Employee in clerical eider who appear in the exam for promotion to officer in

JMG Scale-1 under selectivity channel and qualify securing 1st, 2nd and 3rd

position and management trainees who take confirmation test for the time and

secure 1st, 2nd & 3rd position on all India basis are considered for each award.

Likewise, promotee clerk (separately under matriculate/non-matriculate

categories) who secure 1st & 2nd position on all India basis will be eligible for

the award under the scheme.


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The selection of the candidate for the award to promote officers is done on

the basis of the aggregate marks obtained in written test, qualification and

service relating to the selectivity track of promotion from clerical to officer

cadre, similarly, selection of promotee clerk for the award will be on the basis

of aggregate marks in the written test and interview.

Besides the above, promotee officers who secure first position in each zone

will be given each award of Rs. 1000/- further, the matriculate and non-

matriculate sub staff employee approved to clerical cadre and secure 1st

position in each zone will also be given zone and secure 1st/2nd/3rdb (as the

ease may be for employee promotee officer and clerk) on all India basis, only

the higher of each award shall be paid.

Following are the details of the awards:

a) Promotee officers/management Trainees:

Position Amount of award

First = Rs. 2000/-

Second = Rs. 1500/-

Third = Rs.1000/-

b) Promotee clerks (separately for matriculate/non- matriculate -

employee)

Position Amount of award

First = Rs. 1000/-


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Second = Rs. 750/-

22. AWARD FOR APPREHENDING DACOITS/RPBBERS:

The scheme was introduced in terms of govt. guidelines and circulated

through PD Circular no. 950 dt 320.6.1986. The modified guidelines have

been circulated through HRD Division circular no. 115 dt 13.12.2002.

All those employee who resist/apprehend dacoits/robbers and resist terrorist

attaches are eligible for cash award not exceeding Rs. 50000/-.

In addition to bank employee, customers/ members of public who actively

resist robbers and terrorist attacks may also be considered for each reward.

In case of death of an employee as a result of or during bank robbery and

attack by terrorist during as well as after office hours in any part of the

country:

- the family of the deceased will be given compensation by the

bank ranging from Rs. 1.00 lace to Rs. 5.00 lace as specified inthe as per the cadre and scale of the employee.


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- The bank will look after educational expenses of the children of

the deceased up to and inclusive of graduation.

- Transfer of the loans for housing etc. if any, to the family

members in case compassionate employee is given, otherwise

the interest part of loan may be waived.

In case of injury, all hospitalization expenses will be born by the bank and the

employee may be given special leave for the treatment period.

The case, if any may be forwarded to the Chief-HR, HRDD, and HO: New

Delhi soon after the incident with recommendation of the Zonal Manager

along with the details of the incident and relevant documents.

23. FACILITY OF HOLIDAY HOME TO RETIRED

EMPLOYEES:

The facility of holiday homes to retired employee has been extended w.e.f.

1.4.96 and circulated vides PD Circulated no. 1538 dt.8.4.96. The list of

banks holiday homes at different centers and any addition/deletion to that

along with change in the address thereof are circulated from time to time.

The entire retired employee (workman as well as officers) of the bank areentitled to the facility of holiday home.

The retired employee can avail of the facility of holiday homes at a

reasonable charge of Rs. 50/- per day per room for the period not less than 3

days and not exceeding one week on one occasion.

This facility will not be available to the retired employee during the months

from April to July.


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Retired employee can reserve the accommodation homes by applying al least

2 months in advance along with a demand draft for the amount of their full

period of proposed stay to the concerned Zonal Managers after proper

verification.

If the room is available, the same shall be booked with a confirmation to 6the

applicant or else the demand draft shall be returned by the Zonal Office.

The list of holiday homes established at various centers is given under the

facility of holiday homes.

24. ISSUANCE OF IDENTITY CARDS TO RETIRED

EMPLOYEES:

The decision to issue identity cards to retired employee of the bank was

circulated through PD Circular no. 1131 dt 13.02.89 and the current

guidelines have been circulated vide pd Circular no. 1629 dt. 20.07.1998 and

HRD Division circular no. 153 dt. 18.72003.

The retired employee desirous to have identity darts should refute the

branch/office from where they retired along with photograph and other

relevant information which will be forwarded to the regional office.

The regional office will prepare the identity card and send the same to the

branch.

At the branch the applicant will sign the identity card in presence of the

Branch manager and receive the same.


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On loss of identity card, duplicate can be issued on a token payment of Rs.

10/- and the cost of the photograph will also bee borne by the retired

employee.

Identity cards have to be issued to all the retired employee as and whenrequest are made as per the procedure.

CHAPTER- 4


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RESEACH METHOLOGY

(A) RESEARCH DESIGN

It is the conceptual structure within which research should be conducted.

A research design specifies the method.

A procedure for conducting a particular study.

(B) RESEARCH PROBLEM

It is the systematic search in effort to gain knowledge.


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It is discovery of known to unknown.

Thus a systematic procedure of investing in any field of enquiry.

2. SAMPLING

(a) SAMPLE DESIGN

The researchers adopt sampling survey technique.

Sample survey has been adopted.

The sample consists of data collected from pnb HRD department.

The sample was chosen on a simple random sampling technique.


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(b) SAMPLE SIZE

The organization consists of several different departments each having

its own operation. All these departments are interdependent and thus

they are striving together to achieve the organizational goals andobjectives.

The sample size consists of 42 respondents.

3. DATA COLLECTION METHODS

During survey for collection of data following methods areused:

a. PRIMARY DATA:

Primary data are those which are gathered specially for the project

by the researcher through questionnaire & personal interaction ,

primary data is collected by administering the questionnaire &personal interaction.


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2. SECONDARY DATA

It has been collected through intranet, companys history, profile

and manuals, books, company files & websites.

This is the data which has been collected by someone else

and was already available for study.

OBJECTIVE OF THE STUDY

to make a study of welfare facility provided by PNB to their

officers.

To know about the satisfaction level of officers by their welfare

facility.

To find motivational aspect of officers.


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To know the schemes of officer association organization.

To suggest measure for further improvement.

SIGNIFICANCE OF THE STUDY

Provide prompt, efficient and effective welfare facility and pay in

accordance with applicable laws, rules and procedures for the benefit

of employees of the Bank.

administer the Banks policy for granting financial assistance to staff

members through payroll advances .

manage the various staff benefits home leave, home leave allowance,maternity leave, dependency facilility, and education facility, etc.


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develop and recommend rewards that recognizes, rewards and

enhances performance; reinforce organizational values such as

excellence, teamwork, client orientation, and also motivate staff toachieve higher productivity;

coordinate the database for employees salaries and staff benefits

managed in the payroll such as pension contributions, transfers, leave

salary payments, relevant deductions or recoveries, etc;

prepare reports on all accidents and deaths to insurance the broker and

follow up cases until beneficiaries are paid;

LIMITATIONS OF THE STUDY

Following are the several limitations which handicapped the research.

1. Time constraints:

The stipulated time for the project to be completed is less and thus there are

chances that some information might have been left out, however due care is

taken to include all the relevant information which is important.

2. Sample size:

Due to time constraints the sample size was relatively small; this may beinsufficient to give the exact picture of the scope of welfare scheme.


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3. Accuracy:

The research is based on the data collected by primary and secondary data

collection methods and the researcher is not liable for any wronginterpretation and conclusion due to the incorrect filing of the questionnaire

by the respondents.

4. Public interest:

People were not much interested in filling questionnaire. So it was difficult to

find respondents as they were busy in their schedule, collection of the data

were very difficult. Therefore, the study had to be carried out based on the

availabil

Documents

Shiwani Project Report G