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Company overview

A Glorious Past - A Brighter Future

Union Bank of India was established on 11th November 1919 with its headquarters in the city of

Bombay now known as Mumbai. The Head Office building of the Bank in Mumbai wasinaugurated by Mahatma Gandhi in the year 1921.

Vision statement

To become the bank of first choice in our chosen areas by building beneficial and lasting

relationships with customers through a process of continuous improvement

17 Human Resource Management

Keeping this in view that the human capital is critical to the growth of a Bank, a HR

transformation project is in place to address the issues of manpower recruitment, training,

performance management, succession planning and leadership development etc. During the year2010-11,

17.1Manpower Strength: The total Manpower of the Bank as on 31.03.2011stood at 29462.

Table-12 - Category wise Employees

Parameter Officers Clerks Sub-staff TotalTotal Employees 13343 8914 7205 29462

Of Which

Scheduled Castes (SCs) 2612 1853 2782 7247

Scheduled Tribes (STs) 808 431 590 1829

Other Backward Classes (OBCs) 1707 1144 1377 4228

Persons with Disability (PWD) 92 221 119 432

Ex-Servicemen 70 237 1366 1673

Women 1804 2412 876 5092

17.2 Recruitment

a. During the year, the Bank completed recruitment process for 2,122 posts, consisting of 693

officers, 207 Customer Relationship Executives, 1018 clerks & 204 sub-staff. These also

included 480 Specialist Officers and 213 candidates selected from various campuses includingIIMs. During 2010-11, a total of 1,735 new employees joined the Bank. Besides, at the end of the

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Financial Year, the Bank had four Recruitment projects on hand for recruitment of 547 officers

through campus selection, 1165 Probationary Officers and1640 clerks.

17.3 Promotions

In order to provide Career Progression opportunities to the performers and to motivate themtowards further excellence, the Bank promoted 1,552 staff during 2010-11 in various cadres.

Further promotion processes for filling 3021 vacancies in various cadres was under progress at

the end of financial year.

17.4 Reservation Policy

a. The department continued to have regular dialogues with the various SC/ST and OBC Welfare

Associations in the bank and the platform was fully utilized to redress the grievances of the

various reserved category employees including issues concerning policy matters. Reservations,

Relaxations and Concessions were extended to the various reserved categories as per the extant

government guidelines.

17.5 Industrial Relations

a. The Industrial Relations Scenario in the Bank continued to be cordial on account of the

constant dialogue held with the majority Trade Unions and resolving all the contentious issues.Cases involving Disciplinary Matters were disposed of speedily in the most judicious manner

and with a Human face.

17.6 Staff Benefits

a. Pension: As per the bipartite agreement, 2nd Pension Option was extended to all the existingPF eligible including employees who retired after 29.09.1995. A Defined Contributory Pension

Scheme on the lines of the New Pension Scheme applicable to the Central Government

employees was introduced by the Bank for employees joining w.e.f1.4.2010.

b.Others: Consequent to the Industry-wide settlement signed on 27.04.2010, the Pay andAllowances of the Bank's employees was revised upwards w.e.f 01.11.2007.Consequent to the

amendment to the Payment of Gratuity Act 1972 and Income Tax Act 1961 by the Government

of India, the ceiling on Tax-free Gratuity payable on cessation of service by employees was

raised from Rs. 3, 50,000 to Rs. 10, 00,000 w.e.f 24.05.2010. Certain vital staff related benefitslike Staff Housing Loan, Rental Ceiling for Residential Quarters for Officers, etc. were improved

and made more attractive during the year.

17.7Policy Amendments

a. To suit the changing Business environment and to provide the required impetus for the Bankin fulfilling its objectives, necessary Policy amendments were taken up during the year in respect

of Recruitment and Promotions.

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b. In order to reduce the time lag involved in the recruitment processes, the Bank amended its

Recruitment Policy by incorporating the provisions of the Common Recruitment programme on

behalf of Public Sector Banks to be undertaken by the Institute of Banking Personnel Selection(IBPS).

c. Consequent to the rationalization of Special Pay carrying posts in the 9th

Bipartite settlementthe Bank's Management entered into a fresh agreement with the Majority Workmen Union for

codifying the revised Higher Assignment Policy for its Clerical staff.

d. During the year, it was decided to abolish the post of Part-time Housekeepers and to convert

them into Full-time Housekeepers with a new designation 'Housekeepers-cum-Peon' w.e.f

01.04.2011 and a Memorandum of Settlement to that effect was signed by Bank's Managementwith the Majority Workmen Union.

References: http://www.unionbankofindia.co.in/Human_Resource.aspx

Major players in global market of banking sector:

http://www.unionbankofindia.co.in/Human_Resource.aspxhttp://www.unionbankofindia.co.in/Human_Resource.aspx

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References: http://www.bankersaccuity.com/resources/bank-rankings/

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