NEWS & ADVICE : FIXED DEPOSITS
SBI announces performace based incentives for top and middle level executives
By Neelima Shankar
Jul 6, 2012
Print    Email    RSS   
State Bank of India has announced a new performance based incentives for its top and middle level executives. The incentives are introduced to accelerate the growth of deposits.

The lender registered a growth of 15.78% in credit and 11.75% in deposits in the last fiscal; the bank intends to better it this fiscal with 20% growth in deposits and 16% for advances. Slowdown in growth and global economic scenario are a matter of concern.

In order to acheive a near double growth in deposits, the bank has announced incentives for the top and middle level management, with Chief General Manager level getting a potential incentive of Rs. 1.5 lakh.

The incentives are fixed at 25% of growth above the last year's numbers for these employees, however a consolation bonus is also on the cards for getting a 20% growth over FY11-12 figures.

Surprisingly, the bank has decided to keep the clerical staff, who act as the point of interaction with the customers out of the incentive regime. The results of the performance would be announced at the bank's personal banking website.

The incentives would be given in form of gift cards, and best performances would be appreciated and felicitated at conclaves and bank meetings. The campaign would cover all bank branches opened till March 31, 2012, and performance for the FY13 would be valuated.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Investment options to Save Tax under...
Carnival of Indian Personal Finance Blogs #1
FDs or Equity? Which suits you best?
Haven’t filed a return of your income?...
Medical Insurance: Save tax along with health


Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive