The Central Bank of India (CBI) has undergone a period of severe crisis over the last seven financial years, it was revealed today. Business growth has also declined nearly 15 per cent as compared to previous years due to the Covid-19 pandemic, CBI officials said here today.

Though the Central Bank of India Officers’ Union (CBIOU) requested the management to hold periodical business development meetings with them in all regions and zones so that a positive message can emanate from the management to all employees and officers for their effective contribution to the growth of CBI, there was no response from the management, according to CBIOU leaders.

CBI officials today held discussions in the CBIOU’s 14th Conference and CBI Employees’ Association’s 47th Conference. Notably, a two-day Joint Conference was held in Kolkata virtually and officers and employees in Siliguri and Jalpaiguri region took part in it here today.

General Secretary of the CBIOU, Paresh N Ganguly, in his report, said: “Management’s inexperience and conceited approach are responsible for the present pathetic situation of the bank. However, since we are the major and strong stakeholder of the bank, we cannot allow the situation to be further drifted.”

To understand the present situation, Mr Ganguly also presented an abridged financial report as of 30 June 2021, in which CBI has recorded a total income of Rs 6,245 crore, of which the expenditure was Rs 5,067 crore. When the operating profit was Rs 1178 crore, the net profit was calculated at Rs 206 crore and the net NPA (Non-Performing Asset) was recorded at Rs 7,904 crore.

“The banking industry is suffering due to the corporate looting by big industrial houses and corporate tycoons. The present amount of gross NPA is a huge roadblock to the revival of the health of banks unless and until sincere honest and early steps are initiated by the government to make willful defaulters as criminals and divest them of all fundamental rights. Measures so far initiated are pro-defaulters and anti-public sector bank’s health.

In the name of increasing haircut banks’ gross profit are sacrificed for the benefits of the looters,” Mr Ganguly said. Both CBI officials and employees here demanded full functional autonomy for PSU general insurers and spoke against the privatization of their bank.

The new committee will also plan to observe a strike against the privatisation of nationalised banks. During the interaction, the officials said that they were under tremendous workload for opening bank accounts of the government’s several social security schemes including Lakshmi Bhandar, a state government scheme.

A senior CBI official, Bhaswati Nandi, a central committee member of the CBIOU, said that almost all branches of banks are opening on an average above 70 Lakshmi Bhandar accounts each day from the present ongoing Duare Sarkar camp.

According to her, the state government’s student credit card is also a popular scheme, but since the guidelines and rate of interest prescribed by the state is “simply unmatched” with their banking policy, the CBI is not interested in the government’s education loan programme.