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Home > Equity Market > State Bank Of Bikaner and Jaipur share price- Director's Reports >

State Bank Of Bikaner and Jaipur share price- Director's Reports

Industry: Finance - Banks - Public Sector
BSE Code :501061
NSE Code :SBBJ
Business Group:SBI Group
LTP (Rs.)
ISIN No :INE648A01026
Face Value/M Lot :10.00/1
P/E Ratio : 3.27
Market Cap : 2384.55 Cr
You can view full text of the latest Director's Report for the company.
Year End : 03 / 2013
The Board of Directors of State Bank of Bikaner and Jaipur have pleasure in presenting this Annual Report together with the audited Balance Sheet and Profit and Loss Account of the Bank for the year ended 31st March 2013.

ORGANISATIONAL PLANNING

With a view to improving the levels of supervision, organizational effectiveness and overall efficiency, one additional position of Chief General Manager was created. The Chief General Managers were designated as Chief General Manager - Retail Banking and Chief General Manager - Commercial Banking. Functionalities among Chief General Managers were allocated. Seven additional positions of General Managers were also created. While 7 GMs were posted at Head Office, 5 GMs were posted in the field. 3 such GMs would lead the 3 Retail networks and 2 GMs would lead the corporate networks. Roles and responsibilities of the General Managers were circulated and field GMs were equipped by entrusting adequate discretionary powers.

Keeping in view the availability of significant business potential in and around Alwar, which is one of the fastest growing industrial estates, a new Alwar Zone was created. For greater focus on the AGM headed branches to accelerate business growth, such branches were brought under the control of a separate DGM by creating a position of DGM (Special branches). This would also enable the DGM, Delhi Zone to improve attention over regions, and intensify efforts for inclusive growth.

With a view to improving supervision and monitoring of large corporate accounts as also to ensure professional services to such customers, the incumbency of IFB, Jaipur branch, Barakhamba Road, New Delhi branch and Park Street, Kolkata branch were upgraded from AGM's to DGM's.

In light of revised organizational structure, the composition of various non-board committees functioning at the Head Office was also revised.

STAFF WELFARE

The Bank believes in keeping the morale and motivation of the employees high, considers employees as its most important assets and accords high priority to their welfare. The Bank undertook staff welfare activities like granting scholarships to the meritorious wards of the employees, providing free medical consultancy services at various hospitals etc. Insurance cover for employees to the extent of Rs.8.00 lac (Rs.16.00 lac for accidental death) under group insurance scheme of SBI Life, Waiver of housing loan of the deceased employees, Overdraft limit (Personal loan), PF loan and Conveyance loan (upto Rs.3.00 lac) and Special award of Rs.10000/- for education (one time payment) to one ward of the deceased employee. Reimbursement of funeral expenditure is being made to the extent of Rs.10000/- from staff welfare fund. Annual Health Check-up scheme has been extended to the spouse of the employees (age of employee between 41 to 49 years). Besides, relief to the employees, who are on leave without pay on sick ground, Rs.1 5000/- per month upto 24 months during the entire service period is being extended. The Bank has set up holiday homes at Jaisalmer, Chandigarh, Mussoorie, Jaipur, Manali, Mumbai, Goa, Delhi, Haridwar, Katra , Bengaluru, Mt. Abu and Udaipur. Various cultural and sports activities were organized during the year.

INDUSTRIAL RELATIONS

The Bank has a long history of harmonious and cordial relations with both supervising as well as workmen employees enlisting their total commitment, support and cooperation. The Employee's Union and Officers' Association have extended their wholehearted cooperation for the all-round growth of the Bank. A well established and an on going consultative machinery is functioning at various tiers of the administration for resolving issues through joint consultations and negotiations.

VIGILANCE ADMINISTRATION

Vigilance Administration is an integral part of the management. Accordingly, vigilance activities are being accorded high priority in the Bank. Keeping in view the paramount importance of preventive vigilance, greater emphasis is laid on the preventive measures. The preventive vigilance comprises the dissemination of knowledge and precautions, to be exercised by the operating staff while discharging their duties. During the year, we have conducted five training programmes at various training centers, where 137 participants were benefited. In many training programme conducted at STC Jaipur, Chief Vigilance Officer has interacted with participants on all banking areas with focus on "How to be a Vigilant Employee." Preventive Vigilance Committee set up has been revamped. Accordingly, branches having staff strength of 10 or more, BPR initiatives irrespective of staff strength, unsatisfactory rated branches and fraud detected branches, have been included for formation of Preventive Vigilance Committee. Meetings of preventive vigilance committees are arranged, where staff is sensitized in regard to the preventive vigilance measures. Complaints received in the Vigilance Department are dealt with expeditiously and in a professional manner. In order to decide vigilance angle, complaints received in the Vigilance Department are put up to the Internal Advisory Committee. Significant emphasis is laid on the transparency in the tendering process (procurement of goods and services, auctions etc.) by the Bank. The tenders issued by the Bank are uploaded on the Bank's website as well as Government of India website. The department is publishing its in- house magazine titled as "Vigilance Bulletin" on quarterly intervals. Certain new initiatives have been taken as preventive measures like Electronic Voucher Verification, Online Tracking of status of loan application by the applicant, better pre-sanction due diligence process etc.

The department has disposed of 242 complaints, 59 Investigations have been initiated and in total 51 cases of investigations have been disposed of. 60 preventive vigilance inspections were conducted. The constant supervision of the cases resulted in a disposal of 75 vigilance cases, during the year 2012-13.

USE OF HINDI

The implementation of Official Language Policy in the Bank is not only a statutory requirement but also a business need. The Bank made all possible efforts to comply with the statutory provisions relating to the official Language Policy of the Govt. of India during the year and took several initiatives to provide benefit of Bank's different schemes to the masses through Hindi Language.

During the year 2012-13, the Bank made significant progress in promoting and propagating the use of Official Language and ensured compliance of various other statutory requirements framed under the Official Language Act /Official Language Rules. The Bank made all possible efforts to achieve the targets set by Official Language Deptt. Ministry of Home affairs, Govt. of India.

Bank continued its efforts to promote use of Hindi in the field of Information Technology. A portal of Rajbhasha Vibhag was made available on Bank's infonet site. Various useful materials like Hindi typing tool, format of Quarterly Progress Report, Annual Programme etc. were made available on the portal. Officers/employees were imparted training to work on computer in Hindi with the help of Unicode.

Hindi Day and Hindi-fortnight were celebrated in Offices/Branches of the Bank in the month of September 2012 and various competitions were conducted for the staff members. An All India Hindi Essay competition was conducted by the Head Office. The winners of the competition were awarded certificates and prizes. To increase progressive use of Hindi 'Head Office Rajbhasha Trophy' competition (Head office and Zonal level) was organized during the year.

Bank's quarterly in House Rajbhasha magazine "Upwan" is being published regularly. For last year this magazine had been awarded by Reserve Bank of India.

The third Sub-committee of Parliament on Official Language visited the Bank's Shiv Marg, Jaisalmer Branch at Jaisalmer. Honourable members of the committee appreciated the efforts undertaken by the Bank in field of Official Language implementation. Representative of Govt. of India also visited our Head Office and Zonal Office Jaipur and appreciated our efforts. Our Jaipur Zone had been awarded Second Prize by Bank TOLIC, Jaipur for official Language implementation.

AUDIT

State Bank of India, with the concurrence of the Reserve Bank of India, approved the appointment of 6 firms of Chartered Accountants viz. S. Daga & Co. of Hyderabad, Agarwal Anil & Co. of Delhi, M K Aggarwal & Co. of Delhi, Chaturvedi & Co. of Kolkata, Uberoi Sood & Kapoor of Delhi and PSD & Associates of Jaipur as the Bank's Statutory Central Auditors for the year 2012-13. The scope of audit covered 587 branches/ centralized processing units as against 860 branches/ centralized processing units covered in 2011-12.

RESPONSIBILITY STATEMENT

The Board of Directors hereby states:

1. That in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanations relating to material departures;

2. That they have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Bank as on the 31st March 2013, and of the profit or loss of the Bank for the year ended on that date;

3. That they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Banking Regulation Act, 1949, and State Bank of India (Subsidiary Banks) Act, 1959 for safeguarding the assets of the Bank and preventing and detecting frauds and other irregularities; and

4. That they have prepared the annual accounts on a going concern basis.

CORPORATE GOVERNANCE

The details on Corporate Governance are annexed.

ACKNOWLEDGEMENT

The Board of Directors is grateful to the valued customers, esteemed shareholders and the public at large for their patronage and confidence reposed in the Bank and places on record its deep appreciation. The Board of Directors thanks the Government of India, State Bank of India, Reserve Bank of India and other regulatory agencies for their valuable support and guidance throughout the year.

The Board of Directors places on record its deep appreciation of the commitment, sense of involvement and dedication exhibited by each staff member and constructive role played by the Employees' Union and Officers Association in the overall development, growth and prosperity of the Bank.

For and on behalf of the Board of Directors

Delhi B. Sriram

6th May, 2013 Managing Director

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