Banks will earn money off

Stock Market Trading Education

Mumbai- Government bank is not good news for babus. Soon they would lose their upper income which was in addition to their salary. Because the government believes that the commissioning of bank siblings on cross-selling products should be discontinued. In this regard, the letter has been sent to all the heads of banks from the government side. The government wants to put this commission in the bank’s account so that the bank’s income increases.

Explain that cross-selling products include products such as insurance and mutual funds, which the government bank’s babus are selling from Dhaltala these days. Outdated, they are given the goal of cross-selling products. Complaint has been made to the government several times for cross selling products on behalf of the bank union. The union says that the bank should focus on the task of giving loans to the babus and loan recovery, but they keep their focus on cross selling products.

The letter sent by the Finance Ministry to the bank chiefs said that the employees of the bank are full-time employees and they are given fixed salary instead. So they do not have to give separate commission. This commission should be deposited in the bank’s account. The Ministry has said that it has been observed that many times the bank employees ignore their original work to fulfill the goal of cross selling product.

Bank babu says that this may cause the loss of income to the bank as fees. Private banks pay a lot of fee for selling their third-party products to their employees, which will increase their business. State Bank of India, the country’s largest bank, increased its income by 10 percent in the last fiscal year. State Bank of India earns Rs. 1631 crores from cross selling products in the fiscal year.

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