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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.
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HISTORY OF THE BANK
PUNJAB NATIONAL BANK: FIRST OFFICE
The first office of pnb at Ganpatrai Road, Lahore
http://en.wikipedia.org/wiki/File:Pnblogo.jpg -
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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.
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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
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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.
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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
http://business.mapsofindia.com/banks/pnb-bank-branches/assam.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/andhra-pradesh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/bihar.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/chandigarh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/chhattisgarh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/delhi.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/goa.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/gujarat.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/haryana.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/himachal-pradesh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/jammu-kashmir.htmlhttp://en.wikipedia.org/wiki/File:Pnblogo.jpghttp://business.mapsofindia.com/banks/pnb-bank-branches/assam.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/andhra-pradesh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/bihar.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/chandigarh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/chhattisgarh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/delhi.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/goa.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/gujarat.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/haryana.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/himachal-pradesh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/jammu-kashmir.html -
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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
http://business.mapsofindia.com/banks/pnb-bank-branches/jharkhand.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/karnataka.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/kerala.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/madhya-pradesh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/maharashtra.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/meghalaya.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/orissa.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/pondicherry.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/punjab.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/rajasthan.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/sikkim.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/tamil-nadu.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/tripura.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/uttar-pradesh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/uttaranchal.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/west-bengal.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/jharkhand.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/karnataka.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/kerala.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/madhya-pradesh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/maharashtra.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/meghalaya.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/orissa.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/pondicherry.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/punjab.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/rajasthan.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/sikkim.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/tamil-nadu.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/tripura.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/uttar-pradesh.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/uttaranchal.htmlhttp://business.mapsofindia.com/banks/pnb-bank-branches/west-bengal.html -
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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:
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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