“If you are a girl take up a government or psu bank jobs, you can work less, have a nice time and you will get a pension”.

If this is the advice you got or are getting from your Mom, ask her to use the refresh button. Not once, but many times over.

Things are really changing in government jobs as well as psu banks. When I say a PSU bank I include the full range from the huge State Bank of India to the new kid in the block Idbi bank.

Let us take the case of older banks like Canara, Dena, Bank of Maharashtra etc. The VRS scheme wiped out the complete middle. All those nice, smart, all knowing men and women who made up of the middle management took the VRS and stepped out. So branches are all running with a skeletal staff. One of the girls in the bank was telling me how the customers bully them – at the cash counter they ask for different denominations, different combinations, exchanging of old notes, request to fill up the form etc. One customer even went to the extent of saying -‘here is my granddaughter’s address please send my money to her WITHOUT TELLING MY SON and daughter-in-law’.

NO private sector bank will listen to all this. Clearly they expect you to use the ATM for transactions, or preferably the net, ….So the older population prefers (they have no choice) using the older psu banks.

The work load on the people working in the govt. and Psu banks is just too much, and there seems to be no respite. They cannot say NO even to small customers – the same customers who will feel scared to walk into a Icici bank or Hdfc bank. Most of the Saturdays are full days, and I know of senior managers reaching home at 2 am. One of the kids in our office who joined a ‘psu bank’ because of parental pressure now works about 11 hrs a day, and is perhaps doing poor quality of work.

So when you get advice about psu jobs and govt jobs being easy to do, tell them they are wrong.

What about pension? Well all of them have shifted from ‘defined benefit’ to ‘defined contribution’. So people who have joined say 7 years ago invest in National pension scheme. Not a great feeling, I can assure you.


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  1. That’s right for all people who have joined the governemnt service after 01/01/2004—they are under a “Contibutory Pension scheme”

    As per the notification,
    The system would be mandatory for new recruits to the central Government
    service except the armed forces and the monthly contribution would be 10
    percent of the salary and DA to be paid by the employee and matched by the
    Central Government. However, there will be no contribution from the Government
    in respect of individuals who are not Government employees. The contributions
    and investment returns would be deposited in a non-withdrawable pension tier-I
    account. The existing provisions of defined benefit pension and GPF would not be
    available to the new recruits in the central Government service.

  2. Subra sir,
    PSUs have enjoyed in past when there were very few or no private banks. With aggressive marketing, technology driven services all the new savings from young generation is going to private banks like ICICI, HDFC which has really made PSU pull up their socks.
    It is high time the PSU banks pull up their socks, do something different otherwise most PSU banks would be limited to becoming POS for pension plans, PPF etc OR places where private banking is not yet profitable.
    I remember teasing PSU bank people by asking question “When are you working next?” 🙂
    Just don’t feel bad abt PSU bank employees working harder. Everything is changing and it is good that they are also changing.

  3. I still see no change in the Bank of Maharashtra. It is a real pain to visit the branch once a year to fill PPF contribution. The same attitude of people behind the counter.
    I feel govt should seriously consider reducing branches where business is not profitable. Or better still merge all the public sector banks in one large entitiy and then rationalise staff and branches.
    Only the pensioners will then visit these branches monthly as they have no other choice.

  4. Sharing such shit blogs to bank employees using someone’s email, unauthorized !!! Sounds Fun, isn’t it !!!!

  5. woah man !!!! Out of 5 comments, you replied back only on my comment.
    My comment wasn’t even worth reading..others one’s are…
    I guess mine did affect you…..
    Either you replied my comment out of guilt or its just the fact that NEGATIVE SELLS…whatever the case may be, my objective got dunked on you !!!

  6. subra

    is this yellnext? what got his goat? amongst your posts this is so innocous i re re read to see what got him.

  7. Completely agree Subra, My wife works for HAL and she cant even complain when the MGMT says that you need to stay in office from 6am to 6pm, even if you dont have work, that’s cause you boss is in office and the work might come up any time, No Pension, no transport, nothing the only benefit i think she got it 6month maternity leave.

  8. the luxury of the 5th and 6th pay commission MAY not repeat..but you never know! time people get realistic about what to expect in a govt job…

  9. This article is purely an authentic account which brings into light the current view of the psu sector . Mr Subra .. Amazing piece of writing . I hope some of my friends who blindly follow the “govt job hype” will gain an insight from this one . Thanks !! 🙂

  10. I really appreciate the honesty with which you have described the actual position in psbs. I myself working in the largest PSB n I work for more than 11 hours 6 days a week. during audits n all it can stretch to 14-15 hrs including sundays. Then at top of it all , there are transfers….. PSBs really need to revive their HR policies

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