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Bank of Baroda: Target Pressure Concerns Emerge Over Current and Savings Accounts (CASA)
Concerns arise in Bank of Baroda as pressure mounts on staff to meet Current and Savings Accounts targets, sparking controversy and employee opposition.
Author: Saurav Kumar
Published: February 26, 2024
The drive to spur business growth in Bank of Baroda has brought attention to the mounting pressure surrounding Current Accounts and Savings Accounts (CASA) targets.
A recent communication addressed to the Chief General Manager (CGM) by the All India Bank of Baroda Employees’ Co-ordination Committee (AIBOBECC) underscores concerns regarding the bank's insistence on business commitments from Clerks and Subordinate Staff.
The letter reveals that regional offices are distributing excel sheets to individual staff members, soliciting commitments for canvassing CASA accounts and stipulating CASA amounts.
Image: AIBOBECC letter on CASA Targets to Clerks
Complain Mounts on CASA Target Pressure
Bankers within Bank of Baroda have voiced apprehension about the development. An anonymous banker from Bank of Baroda told Kanal, “By every passing day there is an increasing pressure to meet the targets of Current and Savings Accounts and specially for clerks, the bank is asking for commitment.”
While recognising the importance of deposit canvassing, AIBOBECC maintains that imposing commitments and targets on award staff, including Sub staff, is not aligned with service conditions.
The AIBOBECC is yet to respond to successive queries of Kanal on the issue.
Recent Target Pressure Controversy
Recent controversies have underscored the challenges stemming from target pressure within Bank of Baroda.
Bank of Baroda Officers Union raised objections to the decision of conducting loan performance review meetings after working hours.
Bank of Baroda employees in Rajasthan faced an unexpected Sunday workday, tasked with uploading BOB World documents.
In light of target pressure concerns, Bank of Baroda Officers Union accused IndiaFirst Life Insurance of widespread mis-selling and demanded a review of Third Party Product and an independent committee to investigate and delink insurance from employees.