Chapter-I

Introduction Objectives Need for the study Scope of the study Research & Methodology Sampling Measurement Techniques Limitations

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(1.1) INTRODUCTION:

The basic objective of the Staff Welfare Scheme Management is to uplift the physical, mental and economic conditions of its employees in order to get the best out of them in addition to fulfilling the social responsibility cast upon the organization.

It is a fact that the Industrial progress of the country depends on its committed labor. In order to get the best out of a worker in the matter of reduction working conditions require to be improved to a greater extent to achieve the objective of maximization of utilization resources the workers should at least have the means and facilities to keep him in a state of health and efficiency.

The work place should provide reasonable amenities for the essential needs and worker should also be equipped with the necessary technical training and a certain level of education.

Labor welfare is broad term covering social security and such other activities as medical aid, crèche, canteens, recreation, and housing, adult education arrangements for the transport of labor to and from the place of workplace.

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(1.2) OBJECTIVES:

To understand & present the various welfare measures at Central Bank of India. To find out how effectively existing welfare measures have been implemented. To examine the satisfaction level of Employees regarding welfare measures provided by the Organization. To identify the existing employ welfare facilities particularly, Educational facilities Medical facilities Canteen facilities Housing facilities and Transport facilities. To know and suggest improvements regarding the various welfare measures, programs and schemes taken up by the organization for the betterment of workers. To analyze and suggest further improvement of existing welfare facilities in the organization.

(1.3) NEED

FOR THE STUDY:

Welfare measures are measures, which promotes the physical, psychological well-being of the working population. Employees are recognizing the importance of labor welfare activities in India very recently, government, by other agencies.

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Encourage the employees. Recruit and retain the best personnel to increase and improve employee morale. Develop employees economically and socially. Provide primary needs. Motivate employees for increasing efficiency. Creating the sense of social goods. Increase productivity and to maintain good industrial human relations. Improve the standards of living of workers, housing, minimum wages and other benefits are bound to create a feeling of satisfaction among the workers and are therefore more helpful in reducing the extent of labor turn over and absenteeism. Provisions of good medical and working conditions, recreational, educational are bound to increase the mental efficiency and economic productivity of industrial workers.

(1.4) SCOPE

OF

STUDY:

The issues of welfare measures are related to overall development of workers both the physical and physiological being. Employee welfare programs create a sense of belonging and adequacy that benefits the organization in the long run. Hence the major study includes scope of the study is related to the employee welfare measures, like Medical facilities, Educational facilities, Canteen facilities, Housing facilities and Transport facilities, the innovative programs by the government for the workers through the different mechanisms and how the welfare is implied in the organization to the employees and their families which ultimately benefit the organization in the long run.

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(1.5) RESEARCH METHODOLOGY:
Both the primary and secondary research was conducted during the study.

Sources for collection of data:
Primary Data: Primary data was collected by interviewing the employees through Questionnaire from various cadres of personnel to find out the opinions regarding labor welfare facilities; a Questionnaire is prepared so that they can express their views. Secondary Data: Data collected from books, annual Reports of the organization are known as secondary data. Collection of other relevant information through secondary sources like Internal records and Journals booklets. Reports and the manuals of the company

(1.6) SAMPLING:
Sampling Techniques: A simple Random Technique was used in the research. Size of the sample: A sample of 30 persons was chosen at random. It includes all cadres of employees.

(1.7) MEASUREMENT

TECHNIQUE:

The questionnaire was used as primary data. A formalized questionnaire was prepared which contains dichotomous questions, open-ended questions and multiple-choice questions to collect the opinion of the employees. The data collected is represented in the form of tables, by using tools such as column and Pie charts. These details are analyzed, Interpreted and used for findings and suggestions

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(1.8) LIMITATIONS:

The time allotted for project is very less. Fear to give negative answers. Some employees due to their busy schedules did not give opinion. As they are bound with rules and regulations of their bank, they are not able to reveal the facts.

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CHAPTER-II

Concept Principles

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CONCEPT: The subject matter related to Employees welfare and related terms have been explained. The term labor welfare is flexible and elastic and differs widely with time, regions, industry, country, social values and customs, degree of industrialization, the general socioeconomic development of the people. It is also molded according to the age, group, sex, socio-cultural background marital status and economic status and educational level of the workers in industry. Welfare measures are a three dimensional concept like total, social and relative. The "total concept” of welfare is the achievement of a desirable state of existence involving physical, mental and moral and emotional. The "social concept" of welfare involves the well-being of an individual and harmonious relationship he establishes with his primary group-his family, his working group - his colleagues, superiors and subordinates. The "relative concept" of welfare involves relative to time, place and person.

Need for Labour welfare: The need for the labor welfare measures arises because of the nature of the industrial system, which is characterized by two basic factors: • The conditions under which work is carried on are not congenial for health.

When a labor joins an industry, he has to work in an entirely strange environment, which creates problems of adjustment.
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According to labor investigation committee "The provision of canteens" improves the physique.

• "Entertainments" reduce the incidence of serious accidents • "Medical aid & Maternity and child welfare" services improve the health of the workers and bring down the rates of general, maternal and infantile mortality. • "Educational facilities increase their mental efficiency and economic productivity". CONSTITUTIONAL PROVISIONS:

Article 41:

"The state shall, within the limits of its economic capacity

and development, make effective provision for securing the right to work, to education and to public assistance in case of unemployment and in other case of underserved want".

Article 42: "The state shall make provision for securing just and humane conditions of work and for maternity relief"

Article 43: "The state shall endeavour to secure by suitable legislation or economic organization or in any other way to all workers, agricultural, industrial or otherwise work conditions of work ensuring a decent standard of life and cultural opportunities and in particular, the state shall endeavour to promoter cottage industries or co-operate basis in rural areas.

Objectives of labour welfare measures are: a) ECONOMIC: To increase their efficiency and effectiveness so that they can perform better in different work situations; keep them contended and reduce the chances of conflict.
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b)

HUMANISTIC: To treat them as normal human beings by providing

basic facilities and amenities. c) CIVIC: To develop a sense of responsibility dignity of labour and

participatory culture among them. Principles of adequacy in welfare: Principle of adequacy of welfare: Labour has a right to adequate wages. But high wages alone cannot create healthy work environment. A combination of both - wages and welfare measures would improve workers satisfaction, morale and motivation.

Principle of the social responsibility of industry: Industry has an obligation or duty towards its employees to look after their welfare. Labour welfare is highlighted as a state policy in the directive principles of Indian constitution. Principle of Efficiency: Employees accept the responsibility for implementing such labour welfare measures which they consider will increase their efficiency. Principle of re-personalization: This principle emphasizes the development of human personality as the aim of welfare measure. Necessary to implement Intra mural and extra mural welfare services are implemented. Principles of totality of welfare: 10

In this the necessity of labour welfare must be felt and convinced by all levels of management. This requires reduction, retraining and re-orientation of managers at all levels. Principles of integration and co-ordination: The co-ordination approach is essential throughout the organization so that fall benefit is derived out of welfare measures. This is through systems approach where organization consists of subsystems integrated together as one whole system. Principles of participation: It highlights the democratic principles of mutual consultation example; committees for canteens, sports etc. Principles of responsibility: Both employees and employee are responsibility for labour welfare. Trade union leaders as the workers representatives must play a positive role they must co-operate with management to provide essential welfare measures without hampering the economic viability of the establishment. Examples are union participation in committees like canteen committee of welfare measures. Suitable MIS can be installed success or this process can periodically evaluate failure, accountability of failure can be fixed.

Principles of timeliness: Welfare measures must be provided in time and when needed most; untimely assistance is not only wasteful but antagonizes the workers. This requires proper planning and control.
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The other objectives of labour welfare: • • • • • • • To give expression to philanthropic and paternalistic feeling To win over employees loyalty and increase their moral. To combat trade unionism and socialistic ideas To buildup stable labour force, to reduce labour turnover and absenteeism To save oneself from heavy taxes on surplus profits To earn goodwill and enhances public image To make recruitment more effective

DEFINITION: The term employee welfare, labour welfare or workers are related terms. Employee welfare is defined as "The voluntary efforts of the employees to establish within existing industrial system and sometimes living and cultural of the employee beyond that which is required by low, the custom of the industry and the conditions of the market. The labour investigation committee has defined employee welfare as "anything done for intellectual, physical, moral and economic betterment of the workers whether by employees by government or by other agencies over and above what is laid down by law or what is normally expected on the part of the contractual benefit for which workers may have bargained. International Labour Organization(ILO report refers to labour welfare as: Such services, facilities and amenities as may be established in or in the vicinity of understandings to enable the performs employed in them to perform their work in healthy, congenial surroundings and provided with amenities conducive to good health and high morale".
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Feature / characteristics of labour welfare: • It is the work, which is usually undertaken within the premises or in the vicinity of the undertaking for the benefit of the employee and the members of his family. • The work generally includes those items of welfare, which are over and above. What is provided by satisfactory provisions or required by the custom of the industry or what the employee expects as a result of a contract of service from the employees. • The purpose of providing welfare animates is to bring out the development of the whole personality of the worker .his social, psychological, economic, moral, cultural and intellectual development to make him a good worker, a good citizen and a good member of the family. • These facilities may be provided voluntarily by progressive and enlightened entrepreneurs of their own accord out of their realization of social responsibility to labour or statutory provisions may complete them to make these facilities available or there may be there may be the government or trade unions may undertake them if they have the necessary funds for the purpose. • Labour welfare is a very broad term covering social security activities as medical aid, crèches, canteens, recreation, housing, adult education, arrangements for the transport of labour to and from the work place. • It may be noted that not only intra-moral but also extra-moral, statutory as well as non-statutory activities undertaken by any of the three agencies- for the physical and mental development of a worker.

Welfare and Amenities with the precincts of the establishment:1. Latrines and urinals 2. Washing and bathing facilities
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3. Crèches 4. Rest shelters and canteens 5. Arrangements for drinking water 6. Health services including occupational safety 7. Arrangement for prevention of fatigue. 8. Administrative arrangements for the welfare of employee 9. Uniform and protective clothing 10.Shift allowance Welfare outside the establishment: 1. Maternity benefit 2. Social insurance measures (including gratuity, pension, provident fund and rehabilitation) 3. Benevolent funds 4. Medical facilities (including programes for the physical fitness and efficiency family planning and child welfare) 5. Education facilities 6. Housing facilities 7. Recreation facilities (including sports, cultural activities, library, reading rooms) 8. Holiday homes and leave travel facilities 9. Workers co-operative including consumer’s co-operative stores fair price shops and co-operative credit and thrift societies. 10.Vocational training for dependent of workers 11.Other programme for the welfare of women, youth and children Classification: The classification of labour welfare is based on dividing industrial welfare into 3 categories, which are as follows: • Statutory
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• •

Non statutory / voluntary Mutual

Statutory: Statutory facilities to those provisions, which redressed from the concessive power of government. The government exacts legislations regarding working and laying conditions, minimum wages, safety and security such statutory provisions are gradually increasing along with industrial development. Voluntary: A voluntary facility refers to those activities, which are undertaken by employees for their workers. They primarily oriented to democratic value system. Such welfare activities can increase the efficiency of workers and reduce the chance of conflict between the employees and employee. Mutual: A mutual facility refers to those activities, which are initiated by workers for their betterment in suitable manner. For instance unions undertake certain welfare activities for social and economic betterment of their members. Statutory provisions various acts: There are the amenities that are to be necessarily provided to the employees under different legislations. The important legislations, which call for these provisions, are. 1) The Factories Act, 1948 2) The Plantation Act, 1951 3) The Mines Act, 1952 4) The Motor Transport Act, 1961 5) The Contract Labour Regulation and Abortion] Act, 1970 The Factories Act, 1948: 15

This Act is applicable to premises including precincts where 10 or more workers are employed with aid of power or where 20 or more workers are employed without power. Welfare amenities provided are washing storing, sitting, first aid facilities, canteens, shelters, creche, welfare officers and other facilities. The plantation Act 1952: The Act has provisions for creating canteens, recreation facilities, medical act, housing facilities, protection amenities to workers like umbrellas, blankets, raincoats etc. The Miners Act 1952: This act has provisions for creating shelters, canteens, first aid boxes, pithead bath, lavatories, lockers, welfare offices etc. The Motor Transport Workers Act, 1961: The motor transport undertakings are required to make the following provisions as canteens, clean & well very ventilated rest rooms, uniforms, rain coats, washing allowances, medical facility etc. The Contract Labour (Registration & Abolition) act 1970: The contractor has to provide the following welfare & health measures such as canteens, washing facilities & first aid facilities, rest room etc. Labour welfare officers: The labour officers act as the middlemen between the management & the workers. The post of labour welfare officer instituted mainly to • • Eliminate the evils & malpractices of the jobber system in the recruitment of the labour. To develop & improve labour administration.
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• • • • • • • •

To serve as a liasion with the state commissioner. Supervision Counseling workers Advising management in some matters Establishing liasion with workers Establishing liasion with management Working to maintain harmonious industrial relations in the organization To improve productivity & produce effectively of the organization

Functions of labour welfare officer: -

Many activities are there in labour welfare system but few major areas are selected for the study as follows: 1) Education facilities 2) Medical facilities 3) Canteen facilities 4) Transport facilities 5) Loan facilities

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CHAPTER-III INDUSTRY PROFILE THE COMPANY PROFILE

INTRODUCTION:
Banking in India originated in the last decades of the 18th century. The first
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banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1790; 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 their successors. 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. History: Indian 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 Commercial Bank, established in 1881 in Faizabad It failed in 1958. The next was the Punjab
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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 and other 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 Indian joint stock banks. All these banks operated in different segments of the economy. The exchange banks, mostly owned by Europeans, concentrated on financing foreign trade. Indian joint stock banks were generally undercapitalized 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 Bank and 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 (1914–1918) through the end of the Second World War (1939–1945), and two years thereafter until the independence of India were
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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: Year Number of banks Authorised capital Paid-up Capital s that failed (Rs. Lakhs) 274 710 56 231 76 209 (Rs. Lakhs) 35 109 5 4 25 1 1913 12 1914 42 1915 11 1916 13 1917 9 1918 7

Post-Independence: The partition of India in Bengal, 1947 adversely impacted the economies for months. of Punjab and West paralyzing banking activities

India's independence marked the end of a regime of the Laissez-faire for the Indian banking. The Government of India initiated measures to play an active role in the economic life of the nation, and the Industrial Policy Resolution adopted by the government in 1948 envisaged a mixed economy. This resulted into greater involvement of the state in different segments of the economy including banking and finance. The major steps to regulate banking included: The Reserve Bank of India, India's central banking authority, was established in April 1934, but was nationalized on January 1, 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b). In 1949, the Banking Regulation Act was enacted which empowered the
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Reserve Bank of India (RBI) "to regulate, control, and inspect the banks in India". The Banking Regulation Act also provided that no new bank or branch of an existing bank could be opened without a license from the SBI, and no two banks could have common directors.

Nationalization:

Banks Nationalization in India: Newspaper Clipping, Times of India, July 20, 1969 Despite the provisions, control and regulations of Reserve Bank of India, banks in India except the State Bank of India or SBI, continued to be owned and operated by private persons. By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of the banking industry. Indira Gandhi, then Prime Minister of India, expressed the intention of the Government of India in the annual conference of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalization. The meeting received the paper with enthusiasm. Thereafter, her move was swift and sudden. The Government of India issued an ordinance ('Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969')) and nationalised the 14 largest commercial banks with effect
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from the midnight of July 19, 1969. These banks contained 85 percent of bank deposits in the country Jayaprakash Narayan, a national leader of India, described the step as a "masterstroke of political sagacity." Within two weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it received the presidential approval on 9 August 1969. A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for the nationalization was to give the government more control of credit delivery. With the second dose of nationalization, the Government of India controlled around 91% of the banking business of India. Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. It was the only merger between nationalized banks and resulted in the reduction of the number of nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy. Liberalization: In the early 1990s, the then Narasimha Rao government embarked on a policy of liberalization, 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, Axis Bank(earlier as UTI 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
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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 India still 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. 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. One may also expect M&As, takeovers, and asset sales. 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 owned banks 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.
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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 computerisation of the banking sector of India has increased many folds after the economic liberalisation 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 branche of scheduled banks of India as of March 2005 The RBI in 1984 formed Committee on Mechanisation in the Banking Industry (1984) whose chairman was Dr C Rangarajan, Deputy Governor, Reserve Bank of India. The major recommendation of this committee was 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 Computerisation in Banks (1988) headed by Dr. C.R. Rangarajan which emphasized that settlement operation must be computerized in the clearing houses of RBI in Bhubaneshwar, Guwahati, Jaipur, Patna and Thiruvananthapuram.It further stated that there should be National Clearing of inter-city cheques at Kolkata,Mumbai,Delhi,Chennai and MICR should be made Operational.It also focused on computerisation of branches and increasing connectivity among branches through computers.It also suggested

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modalities for implementing on-line banking.The committee submitted its reports in 1989 and computerisation 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 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
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then it is followed by New Private Banks, Nationalised banks and Foreign banks. While on site is highest for the Nationalised banks of India.

BANK GROUP NATIONALISED BANKS STATE BANK OF

NUMBER BRANCHES 33627 13661 4511 1685 242

OF ON SITE OFF SITE TOTAL ATM 3205 1548 800 1883 218 ATM 1567 3672 441 3729 579 ATM 4772 5220 1241 5612 797

INDIA OLD PRIVATE SECTOR BANKS NEW PRIVATE

SECTOR BANKS FOREIGN BANKS

HDFC Bank
Introduction: HDFC Bank was incorporated in 1994 by Housing Development Finance Corporation Limited (HDFC), India's largest housing finance company. It was among the first companies to receive an 'in principle' approval from the Reserve bank of India (RBI) to set up a bank in the private sector. The Bank started operations as a scheduled commercial bank in January 1995 under the RBI's
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liberalisation policies. Times Bank Limited (owned by Bennett, Coleman & Co. / Times Group) was merged with HDFC Bank Ltd., in 2000. This was the first merger of two private banks in India. Shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. In 2008 HDFC Bank acquired Centurion Bank of Punjab taking its total branches to more than 1,000. The amalgamated bank emerged with a base of about Rs. 1,22,000 crore and net advances of about Rs.89,000 crore. The balance sheet size of the combined entity is more than Rs. 1,63,000 crore. Business focus HDFC Bank deals with three key business segments. - Wholesale Banking Services, Retail Banking Services, Treasury. It has entered the banking consortia of over 50 corporates for providing Working Capital finance, trade services, Corporate finance and merchant Banking. It is also providing sophisticated product structures in areas of foreign exchange and derivatives, money markets and debt trading and equity research. HDFC is very good bank. Wholesale banking services Blue-chip manufacturing companies in the Indian corp to small & mid-sized corporates and agri-based businesses. For these customers, the Bank provides a wide range of commercial and transactional banking services, including working capital finance, trade services, transactional services, cash management, etc. The bank is also a leading provider of the above services to its corporate customers, mutual funds, stock exchange members and banks. Retail banking services: HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (Visa electron) and issues the MasterCard Maestro debit card as well. The Bank launched its credit card business in late 2001. By March 2009, the bank had a total card base (debit and credit cards) of over 13 million.
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The Bank is also one of the leading players in the “merchant acquiring” business with over 70,000 Point-of-sale (POS) terminals for debit / credit cards acceptance at merchant establishments. The Bank is positioned in various net based B2C opportunities including a wide range of internet banking services for Fixed Deposits, Loans, Bill Payments, etc. With Finest of Technology and Best of Man power in Banking Industry HDFC BANK's retail services have become by and large the best in India and since the contribution to CASA i,e total number of current and savings account of more than 50% ,HDFC BANK has full potential to become India’s No.1 Private Sector Bank. Treasury Within this business, the bank has three main product areas - Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities. These services are provided through the bank's Treasury team. To comply with statutory reserve requirements, the bank is required to hold 25% of its deposits in government securities. The Treasury business is responsible for managing the returns and market risk on this investment portfolio. Distribution network

An HDFC Bank Branch HDFC Bank is headquartered in Mumbai and has a As of March 31, 2012, the Bank’s distribution network was at 2,544 branches and 8,913 ATMs in 1,399 cities as against 1,986 branches and 5,471 ATMs in 996 cities as of March 31, 2011.

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HDFC Bank Limited (BSE: 500180, NSE: HDFCBANK, NYSE: HDB) is an Indian financial services company that was incorporated in August 1994. HDFC Bank is the fifth or sixth largest bank in India by assets and the second largest bank by market capitalization as of February 24, 2012. The bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India. HDFC Bank has 1,986 branches and over 5,471 ATMs, in 996 cities in India, and all branches of the bank are linked on an online real-time basis. As of 30 September 2008 the bank had total assets of Rs.1006.82 billion. For the fiscal year 2010-11, the bank has reported net profit of 3,926.30 crore (US$783.3 million), up 33.1% from the previous fiscal. Total annual earnings of the bank increased by 20.37% reaching at 24,263.4 crore (US$4.84 billion) in 2010-11. HDFC Bank is one of the Big Four banks of India, along with: State Bank of India, ICICI Bank and Punjab National Bank.

Employee Welfare Measures in HDFC Employee means any workman, male/female, employed in the company/ company’s premises or company’s branches whose names is entered in the rolls of the company & who is a workman as defined under section 2(s) of the Industrial Disputes Act 1947, but does not include for the purpose of these rules contractors/contractor’s workmen. Employee Welfare is defined as “The voluntary efforts of the employees to establish within the existing industrial system, and sometimes living & cultural conditions of the employees beyond that which is required by law, the custom of the industry & the conditions of the market”. The chief characteristic of Central Bank of India is to provide adequate welfare
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& motivation to employees to make them feel a sense of involvement, commitment & loyalty towards it. It is an accepted fact that an employee whose primary & social needs are squarely met by the organizations will work with more zeal and enthusiasm towards achieving the organizational goals. The concept of providing welfare and motivation to staff members matching with the growing aspiration of staff has remained as one of the corporate objectives of central bank.

Employee Welfare Measures: Reimbursement of college fees for children of the staff members. The objective of the scheme is to provide a limited amount of financial incentive and support to staff members and to encourage them to allow their talented children to go in for college education. The scheme covers reimbursement of college fees of two dependent children of staff members (including permanent part time sub-staff drawing scale wages of 1/3rd and above). For the purpose of reimbursement under this scheme the family is taken as one unit. Relief to family employees who die in harness. The object of the scheme is to provide immediate financial relief to the family of any employee who dies in harness. The scheme also aims at bridging partly the time gap between the death of the employee and receipt of provident fund and gratuity dues by his or her family and partly the need gap by supplementing family income. Reimbursement of additional Medical expenses to employees/depends suffering from illness leading to Hospitalization and /or domiciliary treatment.
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The objective of this scheme is to provide reimbursement of medical expenses to certain extent to employees/dependent, family members either home or hospital over and above the amount sanctioned under the hospitalization scheme of Bipartite / OSR. Hospitalization scheme for Permanent Part-Time Safai Karmacharis (PTSK): The objective of this scheme is to provide financial assistance in the form of reimbursement of Hospitalization expenses incurred by Permanent Part-Time Safai Karmacharis (PTSK). Reimbursement of expenses for health check-up for employee or his/her spouse/dependent parents who are above 40 years of age. The objective of this scheme is to enable them to take preventive steps at the right time so that the staff and the bank may avoid incurring huge hospitalization expenses at a later date besides endangering their lives. Medical assistance scheme to retired employees Reimbursement of Medical aid to retired employees The objective of this scheme is aimed at strengthening the continued bondage between the bank and the employees even after their retirement especially in wake of introduction of pension scheme in the bank. This would enable the bank to get the assistance of such retired staff for bank building activities. Reimbursement of hospitalization expenses for diseases specified in the bipartite / OSR for retired employees.The objective of this scheme is to provide the assistance in the form of reimbursement of hospitalization expenses incurred by the retired employee (who has joined this scheme) for himself and/or his spouse, under the SWS-Medical assistance Scheme to retired employees.
32

Transit homes at Mumbai, Chennai, Calcutta and New Delhi for the staff members and their family members. In furtherance of the welfare of staff, bank to start with, has established Transit home/Accommodation at New Delhi, Mumbai, and Calcutta & Chennai for the purpose of stay by the staff members/dependents, who are coming for Medical treatment thereat. The allotment should be given based on the “First Come First serve” and there shall be a common list for all categories of employees irrespective of their cadre. Tie-up arrangement in reputed hospitals for reservation of beds / credit tie up arrangement. The facility should be available to all staff members and their family members who are eligible for reimbursement of hospitalization expenses under bipartite settlement/officers’ service regulations. In furtherance of the welfare of the staff, a scheme for tie-up arrangement with reputed hospital, viz. Madras Medical Mission for treatment of Cardio-Vascular diseases for all the staff members and their dependents has been introduced. Reward to the children of employees of the Bank who pass SSC and higher secondary examination Meritoriously. The objective of the scheme is, this scheme was introduced with a view to promote and encourage the spirit of competition among the children of employees to pass SSC/HSC examination with higher percentage of marks. Establishment of holiday homes. The objective is rest and recreation is invaluable for an employee. Besides enabling the employees to spend quality time with his family, it also helps him to refresh himself and re-channels his energies. The Bank has, therefore, started
33

holiday homes at various places for its employees at concessional tariffs. The facility of holiday home can be availed by all the employees of Bank and it has also been extended to retired employees of the bank as a gesture of good will subject to availability of suites at the time of booking after priority to the existing employees. Reimbursement of tuition fees/cost of text books/cost of uniform for school education to two children of the sub ordinate staff and reimbursement of school tuition fees/cost of textbooks to two children of other staff members. The objective of the scheme is to provide a limited amount of financial incentive and support to staff member. The scheme covers reimbursement of tuition fees/cost of text books/cost of uniforms for school education of two dependent children of the sub ordinate staff (including permanent part time sub staff drawing scale wages 1/3rd and above) and reimbursement of school tuition fees/cost of textbooks to two children of other staff members. Reimbursement of cost of vaccination for Hepatitis ‘B’ once in five years in respect of self & members of the family of the staff members. The objective is, as a part of the welfare of the employee and their dependents, a scheme has been devised, whereby the reimbursement of the cost of vaccination for Hepatitis ‘B’ will be allowed to self and for family members of the staff once in five years, so as to enable them to take preventive steps at the right time, before the total disease strikes. Canteen expenses/subsidy: The existing rate structure of canteen subsidy stands reviewed to Rs.50/- per employee per month and stands extended to all branches/offices irrespective of number of employees working thereat.

34

CHAPTER-IV

35

Data Analysis Interpretation and Findings

1) Title: Working atmosphere When the respondents are enquired about the working atmosphere, the views are based on the age of the respondents, the following responses are observed. Age Work Atmosphere Excellent Good Average Poor Below 25 25 – 35 35 – 45 Above 45 Total

0% 0% 0% 0%

3% 10% 0% 0%

7% 37% 3% 0%

10% 30% 0% 0%

20% 77% 3% 0%
36

Total

0%

13%

47%

40%

100%

Inference: When respondents a asked about the working atmosphere and they are viewed based on the age, most of the respondents agreed that they are provided with good working atmosphere and some of the respondents agreed that they are provided with the excellent working atmosphere. Interpretation: 77% of the respondents of all age groups agreed that the working condition is good while 20% of all the age groups agreed that the working atmosphere is excellent where as 47% of the respondents of the age between 35 – 45 and above 45 agreed that the working atmosphere is good and only 13% of the respondents of the age below 35 agreed as good, as they compared with the facilities provided by private bank and hence the respondent showing poor is nil.

2) Title: Number of Employees aware of Facilities When Respondents were asked to give their views pertaining to awareness of various Facilities, following responses were observed. Awareness of facilities Yes No
37

No of Employees % Of Employees

22 73%

8 27%

Inference: When Respondents were asked to give their views pertaining to awareness of various facilities, most of sample respondents agreed that they are aware of various facilities. Interpretation: 73% of the sample respondents felt that they are aware of various Facilities; whereas 27% of the respondents are not aware of these facilities.

3) Title: Awareness of various Facilities When the respondents were enquired about the various facilities they were aware of, the following responses were observed. a) Educational Facilities
c) Housing Facilities facilities

b) Medical Facilities
d) Canteen Facilities e) All

38

Facilities A, b & c A, b, c & d B, c & d A&d Only e

No of Respondents % Of Respondents 2 9% 5 23% 3 14% 2 9% 10 45%

Inference: when respondents were asked to know the facilities they are aware of, it is concluded that most of the respondents are aware of all the Facilities provided by the bank. Interpretation: 45% of the respondents are aware of all the facilities provided by the organization where as 23% of the respondents are aware of Educational facilities, Medical facilities, Housing facilities & Canteen facilities while 14% of the respondents are aware of Medical facilities, Housing facilities & Canteen
39

facilities and 9% of respondents are aware of Educational facilities, Medical facilities, Housing facilities & Canteen facilities. 4) Title: Welfare measures for the betterment of the organization. When respondents were asked to rank whether the employee welfare measures work for the betterment of the organization.

Ranks 1 Views a) To improve efficiency of the 33% employees b) To build up the organization 0% c) To achieve only tangible and 4% temporary benefits d) To retain skilled employees 4% e) To build up human assets and employee loyalty to 60% achieve the long-term goals 2 43% 14% 7% 23% 13% 3 20% 43% 10% 10% 17% 4 4% 23% 20% 43% 10% 5 0% 20% 60% 20% 0%

40

Inference: When respondents are asked to rank, how these employee welfare measures work for the betterment of the organization, most of the respondents ranked to achieve only tangible and temporary benefits and to build up human assets & employee loyalty to achieve the long-term goals. Interpretation: 60% of the respondents ranked, to achieve only tangible benefits and temporary benefits and to built up human assets & employee loyalty to achieve the long term goals, while 43% of the respondents ranked, to improve efficiency of employees, to build up the organization and to retain skilled employees. 5) Title: Motivation of Employee through Employee Welfare Measures When sample respondents were enquired whether these employee welfare measures help the organization to motivate its employee so that these valuable human resources can be effectively utilized for improving the performance of the organization, the following responses were observed.

S NO VIEW % OF RESPONDENTS 1 True 73% 2 True to some extent 20% 3 Not possible at all 7% 4 Not possible without employee will to excel 0%

41

Inference: When respondents were asked to give their opinion regarding the employee welfare measures, most of the respondents are accepting that these employee welfare measures help the organization to motivate its employee so that these valuable human resources can be effectively utilized for improving the performance of the organization, while some of the respondents are accepting to some extent. Interpretation: 73% of the respondents felt that it is True i.e. these employee welfare measures help the organization to motivate its employee so that these valuable human resources can be effectively utilized for improving the performance of the organization, where as 20% of the sample felt that it is true to some extent and 7% of the sample respondents are felt as Not possible at all.

42

6) Title: Employee Satisfaction on Employee Welfare Measures When respondents were enquired on the Satisfaction level of Employee Welfare Measures, the following responses are observed.

Satisfied to Schemes Satisfied Some extent Loan Facilities 90% 10% Medical Benefits 37% 57% Other Benefits 50% 33% General Facilities 43% 43%

Cannot Dissatisfied to say 0% 0% 7% 7% some extent 0% 3% 0% 7%

Totally Dissatisfied 0% 3% 10% 0%

43

Inference: When Respondents were enquired about the satisfaction level, most of the respondents are fully satisfied with the loan Facilities, some of the respondents are satisfied to some extent, while some of the respondents are satisfied with the Medical facilities. Interpretation: 90% of the respondents are satisfied with the loan facilities, where as 57% of the respondents are satisfied to some extent with the Medical Facilities, 7% of respondents are dissatisfied to some extent with the General Facilities and 10% of the respondents are totally dissatisfied with the other benefits.

44

7) Title: Sense of Security

When respondents are enquired that whether these welfare measures provide sense of security, the following responses were observed.

S NO VIEW % OF RESPONDENTS 1 Yes 80% 2 May Be 20% 3 No 0%

Inference: Most of the respondents viewed that these Employee Welfare Measures provides the sense of Security. Interpretation: 80% of the respondents agreed that these Employee Welfare Measures provide the sense of security, while 20% of the respondents agreed that these measures provide the Sense of Security.

45

8) Title: Educational Facilities When respondents were enquired about the Satisfaction level on the Educational Allowance for Children and for Self-Education, the following responses are observed.
Dissatisfied Dissatisfied Educational Satisfied Satisfied to Cannot say to to Totally Allowance Some extent Some extent Some extent Dissatisfied 37% 7% 13% 13% 10% For children 33% For self 27% 40% 10% 10% 10% 13% education

Inference: Most of the respondents are viewed that, the Educational allowance
provided for Children Education and for Self Education are satisfied to some extent.

Interpretation: 37% of the respondents are satisfied with some extent and 33% of the respondents are satisfied with the educational allowance provided for children where as 40% of the respondents are satisfied to some extent and 27% of the respondents are satisfied with the educational allowance provided for self-education.

46

9) Title: Educational loans provided by Bank When Respondents are enquired about the Bank loans provided for various Educational facilities, the following responses are observed. Educational loans Educational leave for self For self education Loan for dependents Yes 30% 60% 80% May be 33% 23% 7% No 37% 17% 13%

Inference: when respondents are enquired about the Educational facilities provided by bank, most of the respondents viewed that they are provided with the Loan for Self Education and Loan for dependents and some of the respondents viewed that they may be provided with the educational leave for self. Interpretation: 80% of the respondents agreed that they are provided with the loan for dependents, 60% for Self, 30% for Educational leave for Self and 33% of the respondents agreed that they may be provided with the Educational leave for self, 23% and 7% for Self Education for dependents.

47

10) Title: Medical Assistance Schemes When the sample respondents were enquired about the Medical Assistance schemes provided by Bank, the following responses are observed. Medical Facilities a) Medical aid as a lump sum amount b) Hospitalization Expenses for self c) Hospitalization Expenses for dependents d) Medi-Claim insurance card for self e) Medi-Claim insurance card for Dependents f) Transit homes for other places while in Medical treatment g) Medical aid on Retirement h) Hospitalization Expenses for self after Retirement Satisfied to Some Extent 54% 50% 57% 7% 10% 50% 30% 23% Cannot Say 3% 3% 7% 30% 27% 13% 24% 27% Dissatisfied to some extent 10% 0% 3% 27% 33% 3% 13% 17% Totally Dissatisfied 3% 0% 0% 33% 27% 7% 13% 10%

Satisfied

3% 47% 33% 3% 3% 27% 20% 23%

48

Inference: Most of the respondents are satisfied to some extent with the Hospitalization expenses for self and for dependents, Medical aid, and Transit Homes, while some of the respondents are satisfied with the Medical aid on Retirement and hospitalization expenses for self after Retirement, while some dissatisfied with the Medi-claim insurance card for self and for dependents. Interpretation: 57% of the respondents are satisfied to some extent with the Hospitalization expenses for dependents, 50% with the Hospitalization expenses for self, 54% with the Medical aid, 50% with the Transit home and 30% with the Medical aid on retirement, where as 23% of the respondents are satisfied with the Hospitalization expenses for self after Retirement, while 33% of the respondents are totally dissatisfied with the Medi-claim.

49

11) Title: Medical Risk for his/her family is covered by bank. When the sample respondents were enquired whether Medical risk for his/her family based on Dependents is covered with the available facilities, the following responses are observed. Dependents Medical Risk YES NO TOTAL

NIL 0% 3% 3%

1-2 20% 20% 40%

3-4 34% 20% 54%

Above 4 0% 3% 3%

Total

54% 46% 100%

Medical Risk for Dependents
35% 30% 25% 20% 15% 10% 5% 0% 0% YES 0% 3% NO 3% 34% NIL 20% 20% 20% 1 to 2 3 to 4 Above 4

Inference: when the respondents are asked about the medical risk of his/her family based on dependents, Most of the respondents agreed that medical risk is covered with the available facilities provided by Bank. Interpretation: 54% of the respondents agreed that the medical risk for his/her family is covered with the available facilities where 34% of the respondents are having dependents between 3 – 4 and 20% of the respondents are having 1 – 2 dependents, while 46% of the respondents are not agreed with this where 20% of the respondents are having 1 – 2 and 3 – 4 dependents.

50

12) Title: Housing Facilities
When the respondents were enquired to give their views regarding the Housing Facilities provided by Bank, following are responses. Satisfied to Cannot Dissatisfied to Housing facilities Satisfied Some extent say Some extent a) Payment of 43% 47% 3% 7% HRA 80% 17% 0% 30% b) Housing Loans c) Providing bank 13% 11% 10% 23% Quarters d) Reimbursement 44% 30% 6% 10% Of rent
80% 8% 0 7% 0 6% 0 5% 0 4% 0 3% 0 2% 0 1% 0 0 % 3% 7% 0% 0% 0% b 43% 47% 37% 30% 17% 23% 11% 1 3% 10% 44% 30% 10%

Totally Dissatisfied

0% 0% 37% 10%

Satisfied Satisfied to Some extent Cannot say Dissatisfied to Some extent Totally Dissatisfied

10% 6% d

a

c

Inference: Most of the respondents are satisfied with the Housing loans for construction of houses, Reimbursement of Rent and some of the respondents are satisfied to some extent with the Payment of HRA, some of the respondents totally dissatisfied with the providing bank quarters. Interpretation: 80% of the respondents are satisfied with the Housing loans for construction of houses, 44% with Reimbursement of rent and 47% of the respondents are satisfied to some extent with the Payment of HRA.

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13) Title: Satisfaction level on Benefits Provided by Bank When the respondents were enquired about the satisfaction level of the Benefits provided by bank, the following responses were observed. S NO VIEW % OF THE RESPONDENTS 1 Satisfied 40% 2 Satisfied to some extent 50% 3 Cannot say 0% 4 Not satisfied 10% 5 Dissatisfied to some extent 0%
60% 50% 40% 30% 20% 10% 0% 0% 10% 0% 40%

50%

1 Satisfied 2 Satisfied to some extent 3 Cannot say 4 Not satisfied 5 Dissatisfied to some extent

% Of the respondents

Inference: When the respondents are enquired about the satisfaction level of benefits, Most of the respondents are satisfied to some extent and some of the respondents are satisfied with the benefits provided by Bank. Interpretation: 50% of the respondents are satisfied to some extent with the benefits provided by bank where as 40% of the respondents are satisfied with the benefits and 10% of the respondents are not satisfied with the benefits provided by bank.

52

14) Title: Transport Facilities

When the respondents were asked about that the transport facilities and the satisfaction level on Conveyance allowance provided by Bank the following responses were observed S NO VIEW % OF RESPONDENTS 1 Satisfied 63% 2 Satisfied to some extent 17% 3 Cannot say 0% 4 Not satisfied 17% 5 Dissatisfied to some extent 3%

70% 60% 50% 40% 30% 20% 10% 0%

63%

1 Satisfied 2 Satisfied to some extent 3 Cannot say

17% 0%

17% 3%

4 Not satisfied 5 Dissatisfied to some extent

% of respondents

Inference: Most of the respondents are satisfied with the Transport facility and the Conveyance allowance, while same number of respondents is satisfied to some extent and not satisfied with the Conveyance allowance provided by Bank for the purpose of transport. Interpretation: 63% of the respondents are satisfied with the Conveyance
53

allowance while 17% of the respondents are satisfied to some extent and not satisfied with the transport facility and Conveyance allowance provided by Bank. 15) Title: Canteen Facilities When respondents were enquired about their views pertaining to canteen facilities, the following responses are observed. S NO 1 2 3 4 VIEW Excellent Good Average Not Good % OF RESPONDENTS 3% 30% 60% 7%

Canteen Facilities
60% 60% 50% 40% 30% 20% 10% 0% 3% 7% 30%
1 Excellent 2 Good 3 Average 4 Not Good

% OF RESPONDENTS

Inference: When the respondents were asked to give their views pertaining to canteen facilities, most of the sample respondents agreed that the canteen facilities are average and some of the respondents agreed that the canteen facilities are good. Interpretation: 60% of the respondents agreed that the canteen facilities were average and 30% of the respondents agreed that canteen facilities were good and 3% of the respondents agree that the canteen facilities are excellent.
54

16) Title: General facilities When the sample respondents were asked to give their views regarding the general facilities like drinking water, First aid box etc, the following are the responses observed. S NO VIEW % OF RESPONDENTS 1 YES 90% 2 NO 10%
% OF RESPONDENTS
10%
1 YES 2 NO

90%

Inference: when the sample respondents are asked about the views pertaining to general facilities like drinking water and first aid box, most of the respondents agreed that they are satisfied with the general facilities. Interpretation: 90% of sample agreed that they are provided with satisfied general facilities like, drinking water, First aid box where as 10% of the sample are not satisfied with the general facilities.

17) Title: Welfare and Social Measures conveyed by the management.

When the respondents are enquired about the welfare and social measures
55

conveyed by the management, the following responses are observed.

S NO

1 2 3
80% 60% 40% 20% 0%

VIEW Great Extent Satisfactory Limited Extent
77%

% OF RESPONDENTS 0% 77% 23%
Great Extent Satisfactory 23% Limited Extent

0% % OF RESPONDENTS

Inference: When respondents were asked about the views pertaining to the Welfare and Social Measures conveyed by the management, most of the respondents agreed that the Welfare and Social Measures conveyed by the management are to the great extent. Interpretation: 77% of the respondents agreed that the Welfare and Social Measures conveyed by the management are to the great extent, while 23% of the respondents are agreed that these Welfare and Measures conveyed by the management.

18) Title: Effectiveness of Welfare Measures When the sample respondents are enquired about the views pertaining to the Effectiveness of Welfare measures, the following responses are observed.
56

S NO VIEW % OF RESPONDENTS 1 Sufficient 80% 2 Fully Effective 7% 3 Hardly 13%
Effectiveness
7% 13%

1 Suffeceint 2 Fully Effective
80%

3 Hardly

Inference: when the sample respondents are asked about the views pertaining to the Effectiveness of welfare measures, most of the respondents viewed that the effectiveness welfare measures are Sufficient and some of the respondents viewed as Hardly. Interpretation: 80% of the sample respondents were agreed that the Effectiveness of Welfare Measures were Sufficient, where as 13% of the respondents agreed that the Effectiveness of Welfare Measures were hardly, while 7% of the respondents agreed that the Effectiveness of Welfare measures are Fully Effective.

19) Title: Whether the Welfare measures are periodically reviewed When the respondents are enquired about the reviewing of these Welfare Measures, the following responses are observed. S NO 1 2 3
VIEW

Periodically Never
Only on Frequent Requests

% OF RESPONDENTS 53% 0% 47%
57

60% 50% 40% 30% 20% 10% 0%

53% 47%

Periodically

Never

0%

Only on Frequent Requests

% OF RESPONDENTS

Inference: When the respondents are enquired about the reviewing of these welfare measures, most of the respondents viewed that they are periodically reviewed and some of the respondents viewed that they are reviewed only on frequent requests. Interpretation: 53% of the respondents agreed that Welfare measures are periodically reviewed and 47% of the respondents agreed that Welfare measures are reviewed only on frequent requests.

Interpretation:
Title Working Atmosphere Interpretation Some of the respondents of all age groups agreed that the working atmosphere is excellent and most of the respondents of all age groups agreed that the working condition is good and the respondent showing poor is nil.
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No of employees aware of facilities Awareness of various facilities

73% of the sample respondents felt that they are aware of Facilities are provide by Bank;

Most of the respondents are aware of all the facilities while some of the respondents are aware of only Educational facilities, Medical facilities and Housing facilities. Welfare measures for the Most of the respondents ranked, to achieve only betterment of the tangible benefits and to build up human assets organization while some of the respondents ranked, to improve efficiency of employees. Motivation of employee Most of the respondents felt that employee welfare through employee welfare measures help the organization to motivate its measures employee so that these valuable resources can be effectively utilized for improving the performance of the organization. Employee satisfaction on employee welfare measures Sense of security Educational Facilities Most of the respondents are satisfied with the loan facilities and Medical facilities and some of the respondents are satisfied to some extent with the general facilities. Most of the respondents felt that these employee welfare measures provide the sense of security. Most of the respondents are satisfied to some extent with the Educational allowance provided for children and some of the respondents are satisfied with the Educational allowance provided for self-education.

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Educational loans provide Most of the respondents agreed that they are by Bank provided with the loan for dependents and some of the respondents felt that they may be provided with the education leave for self. Medical Assistance schemes Most of the respondents are satisfied to some extent with the hospitalization expenses for dependents and hospitalization expenses for self after retirement and some of the respondents are dis satisfied with the Medi-claim insurance card for self and for dependents

Is Medical risk for his/her Most of the respondents having 3 –4 and 1 – 2 family covered by Bank dependents agreed that the Medical risk for his/her family is covered with the available facilities. Housing Facilities Most of the respondents are satisfied with the housing loans for construction of houses and some of the respondents are satisfied to some extent with the payment of HRA. Satisfaction level on benefits provided by Bank. Transport Facilities Most of the respondents are satisfied to some extent with the benefits provided by Bank.

Most of the respondents are satisfied with the conveyance allowance provided by Bank, as there is no transport facility. Most of the respondents are of the opinion that the canteen facilities are average and some of the respondents agreed that the canteen facilities are good.

Canteen Facilities

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General Facilities

Most of the respondents agreed that they are provided with satisfied general facilities like drinking water, First aid box etc. Most of the respondents agreed that the Welfare and social measures conveyed by the management are to the great extent. Most of the respondents felt that the effectiveness of welfare measures are sufficient and some of the respondents felt it hardly. Most of the respondents agreed that these Welfare measures are periodically reviewed where as some of the respondents agreed these Welfare measures are reviewed only on frequent requests.

Welfare and social measures conveyed by management

Effectiveness of Welfare measures

Whether the Welfare measures are periodically reviewed.

Observations:
The observations made in this chapter and analysis thereof are based on a questionnaire which covers the following major areas. 1. Working atmosphere
61

2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19.

Number of employees aware of facilities Awareness of various facilities Welfare measures for the betterment of organization Motivation of employee through employee welfare measures Employee satisfaction on employee welfare measures Sense of security Educational Facilities Educational loans provided by Bank Medical Assistance Schemes Is Medical risk for his/her family covered by Bank Housing Facilities Satisfaction level on benefits provided by Bank Transport Facilities Canteen Facilities General Facilities Welfare and Social Measures conveyed by the management Effectiveness of Welfare Measures Whether the Welfare measures are periodically reviewed

62

CHAPTER-V

Suggestions and Conclusions

Suggestions
• Expect the management to cover all ailments including Dental. • Hospitalization expenses can be increased.
63

• Tie-ups should be made with Hospitals and good Educational Institutions. • Increase in House rent Reimbursement • To increase quantum of Medical coverage. • While sanctioning of loans, there should not be take home pay condition. • There should be a park for recreation to the member of staff and their family where the staff and then families meet regularly. • Creation of panel of specialized Doctors. • Overall welfare measures to be tuned with other banks like SBI. • Hospitalization bills in total to be reimbursed. • Reimbursement of expenses and grant of incentives – lump sum or otherwise for acquiring professional qualifications like ICWA, ACS, MCA, MBA. • The amount reimbursed under educational allowance for children should be enhanced substantially. • Frequent interaction with the staff member feedback. • Housing loans and Educational loans to be sanctioned at lower rates of interest. • Improvement of Medical aid and relaxation in LTC schemes. • Interest on staff loans should be rationalized and reduced. • Canteen facilities are to be improved. • Insurance for the Housing loan, so that the loan outstanding are adjusted out of insurance claim completely in the event of death of staff member. The reason for this is if insurance cover is not there in case of death of staff member, large amount of terminal benefits are adjusted towards these loans. • Having some Tie-ups with school management should insure new scheme- School admission to children of staff on transfer.
64

• Uniform Education facilities for children to be improved at all the centers; some seats in the good schools are to be reserved for Bank Employees children. Reasons are: 1) Staff faces a lot of problems in getting admission to good schools on Transfers 2) Because ours is All India level transferable job for every 3 years. 3) At every center we are incurring huge expenses in the form of Admission fee / Tuition fee / Donations etc. • Medi-Claim and Tie-up with major reputed hospitals in the city so that the staff member need not pay huge amount on the rise of admission in to hospitals. • Reimbursement of expenses on self-education. The reasons for this is: • Encouragement acquiring addition knowledge that will help the bank. • Organization schools for staff children

CONCLUSION

The development and survival of any organization is influenced by a vital factor “HUMAN RESOURCE”. So every firm should maintain proper welfare measures and norms in order to achieve its goals. In this process it
65

must provide sophisticated facilities to the employees so that they can completely dedicate their services to the firm. And this project is one that explains the methods and implementation of “HUMAN RESOURCE”.

66

CHAPTER-VI

Annexure

Questionnaire 1) Employee name (name optional): 2) Designation: 3) Department: 4) Qualifications: Grad ____________ PG __________________

67

Any others (please specify): 5) Service Completed: 6) Age (please tick): 45 7) Marital status: 8) No of dependents: (please tick) 9) How is your work condition? a) Excellent b) Good c) Average a) Married b) Unmarried a) Nil b) 1-2 ________ years a) Below 25

__________________ c) 35-45 d) Above

b) 25-35

c)

3-4

d) above 4

d) Poor

10) Are you aware of various employee welfare facilities provided by the organization? a) Yes b) No b) Medical facilities e) All facilities c) Housing facilities If yes, please tick the following welfare measures you are aware of a) Educational facilities d) Canteen facilities

If No, any specific reasons for not knowing How the same can be popularized:

11) How these employee welfare measures work for the betterment of the organization. [Please give rank 1, 2, 3, 4, and 5]. [ ] [ ] [ ] [ ] a) To improve efficiency of the employees b) To build up the organization c) To achieve only tangible and temporary benefits d) To retain skilled employees

68

e) To build up human assets and employee loyalty to achieve the long term

goals

[ ]

12) Employee Welfare Measures help the organization to motivate its employee so that these valuable human resources can be effectively utilized for improving the performance of the organization: a) True c) Not possible at all b) True to some extent d) Not possible without employee will to excel.

13) How satisfied are you with the welfare measures of your bank.
Schemes Loan facilities Medical benefits Other benefits General facilities
14) Whether these welfare measures provide you a sense of security

Satisfied Satisfied to Cannot some extent say

Dissatisfied to some extent

Totally dissatisfied

a) Yes

b) May be

c) No

Educational facilities: 15) Please rate your satisfaction levels towards different Educational facilities being provided by the organization. Please tick among the following

69

Educational allowance For children For selfeducation Others (specify)

Satisfied

Satisfied Cannot to some say extent

Dissatisfied Totally To some dissatisfied extent

16) Is the bank providing the education loan facilities like?
Educational loans For self-education Education leave for self Loan for dependents Yes May be No

Medical facilities: 17) Are you happy with the benefits of medical assistance scheme provided by organization?
Medical Assistance Satisfied schemes Medical aid as a lump sum amount Hospitalization expenses for self Hospitalization expenses for dependents Medi-claim insurance card for self Medi-claim insurance card for dependents Transit homes for other places while in medical treatment Satisfied to Cannot some say extent Dissatisfied Totally To some dissatisfied extent

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Medical aid on Retirement Hospitalization expenses for self after retirement Others (specify)

18) Do you think medical risk for you & your family is covered with the available facilities? a) Yes b) No

Housing facilities:
19) Are you satisfied with the housing facilities provided by the organization through?

Satisfied Satisfied Cannot to some say extent Payment of HRA Housing loans Providing bank quarters Reimbursement of rent Others (specify)

Dissatisfied Totally To some dissatisfied extent

20) Are you satisfied with the benefits provided to you a) Satisfied d) Not satisfied b) Satisfied to some extent e) Dissatisfied to some extent C) cannot say

Transport facilities: 21) Do you have any transport facility in your organization? a) Yes a) Yes b) No b) No
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If no, whether any conveyance allowed paid to you

Are you satisfied with the conveyance allowance provided by bank for purpose of transport? a) Satisfied d) Not satisfied b) Satisfied to some extent e) Dissatisfied to some extent C) cannot say

Canteen facilities & General facilities: 22) How are the canteen facilities in your organization? a) Excellent a) Yes a) Great extent a) Sufficient a) Periodically b) Satisfactory b) Fully effective b) Never b) Good c) Average D) Not good 23) Are you satisfied with general facilities like Drinking water, First Aid b) No c) Limited extent c) Hardly 24) The Welfare & Social measures conveyed by the Management are 25) How effective do you think is the welfare measures? 26) Whether the welfare measures are periodically reviewed c) Only on frequent requests 27) Any expectations you have from the organization in the near future _________________________________ 28) Would you like to suggest any Measures for improvement of existing welfare _______________________________________schemes:

29) Would you like to suggest any other innovative Welfare Measures to be introduced? Name of the new scheme Reasons for suggesting the same

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SIGNATURE

Bibliography

S.no

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Dynamics of Industrial Relations Personal Management Industrial Relations Industrial Relations & Labor laws Dynamics of Industrial Relations in India Factories Act in A.P

Mamoria &Gagkar N.G. Nair&Latha Nair S.C. Srivastava & Arun Monappa C.B. Memoria & S.V. Gankar A.Subramanyam

HimalayaPublishers (14th Edition) ----------------------

351-393 326-329

Tata Mc GrawHill (12th Edition) Meena Pandey’s (5th Edition) Subhash Gogio (1st Edition)

243-264 175-205

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URL Address WWW.ThecentralbankofIndia.Co.In WWW.Googlesearch.Com

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