Lok Sabha Question No. 344 (STARRED), answered on 2019-01-04
Subject: Stamp Duty
Ministry: FINANCE
Asked by: George Baker

## GOVERNMENT  OF INDIA MINISTRY  OF FINANCE DEPARTMENT  OF FINANCIAL  SERVICES

## LOK SABHA

## STARRED QUESTION NO. *245

Overseas Operations  of PSBs

TO BE ANSWERED ON THE 28 TH  DECEMBER 2018/ PAUSHA  7, 1940  (SAKA)

## *245. SHRI PINAKI MISRA:

Will  the Minister  of FINANCE  be pleased to state:

- (a) whether  the Public  Sector  Banks (PSBs) are planning  to close or rationalize  about 70  of  their   overseas  operations   during   the  current   financial   year   and  if  so,  the  details thereof;
- (b) the  total   number   of  staff  and  officers  who   are  employed   in  such  overseas operations;  and
- (c) the  manner   in  which   PSBs  propose   to  relocate   the  staff  and  officers  of  those branches  whose  operations  are being closed  or rationalized?

ANSWER The Finance  Minister

(SHRI ARUN  JAITLEY)

(a) to (c): A statement  is laid  on the Table  of the House.

***

## STATEMENT FOR LOK SABHA  STARRED QUESTION NO. *245 FOR 28 TH DECEMBER 2018 REGARDING  'OVERSEAS OPERATIONS  OF PSBS' BY SHRI PINAKI MISRA,  MEMBER OF PARLIAMENT

(a)  to  (c):   A  reforms   agenda  based  on  recommendations made by Whole-Time Directors  and senior  management  of Public  Sector  Banks (PSBs) was referred  by the Government  to PSBs for appropriate  action  as per approval  of bank  Boards. The  agenda  covered, inter  alia, rationalisation of  overseas  operations   for  cost efficiencies  and synergies  in overseas markets,  based on competitive  strength  and viability, and  a  differentiated   banking   strategy   to  leverage   bank's   competitive advantage,  which  may  include  branch  network  rationalisation for a strong  regional connect.

PSBs  have  apprised   that   bank   employees   working   in  overseas  operations identified   for  rationalisation would   be  relocated/repatriated as  per  the  bank's policies.  Details  of the number  of overseas operations  identified  for rationalisation and  the  total   number   of  staff  and  officers  employed   in  such  operations   are  at Annex.

## Lok Sabha Starred  Question  No. *245,  for  Answer  on 28.12.2018, regarding 'Overseas Operations  of PSBs'

| S.N.   | Bank               |   No. ofForeign Operations identified for rationalisation/ closure during FY -2018-19 |   Numberof staff and officers employed in such overseas operations |
|--------|--------------------|---------------------------------------------------------------------------------------|--------------------------------------------------------------------|
| 1      | AllahabadBank      |                                                                                     1 |                                                                  6 |
| 2      | AndhraBank         |                                                                                     3 |                                                                  5 |
| 3      | Bank ofBaroda      |                                                                                    14 |                                                                245 |
| 4      | Bank ofIndia       |                                                                                    10 |                                                                 17 |
| 5      | CanaraBank         |                                                                                     4 |                                                                 37 |
| 6      | Corporation Bank   |                                                                                     2 |                                                                  2 |
| 7      | IndianOverseasBank |                                                                                     3 |                                                                 10 |
| 8      | PunjabNationalBank |                                                                                     5 |                                                                  8 |
| 9      | StateBank ofIndia  |                                                                                    10 |                                                                 23 |
| 10     | UCOBank            |                                                                                     2 |                                                                 76 |
| 11     | UnionBankof India  |                                                                                     1 |                                                                  7 |
| Total  | Total              |                                                                                    55 |                                                                436 |

## Details of overseas operations  of PSBs