UCO Bank plans administrative revamp

UCO Bank plans administrative revamp

KVVV Charya

Hyderabad, July 19: UCO Bank has decided to implement structural changes in the bank's set up by reducing one tire of administrative machinery to bring in operational efficiency at all levels. The bank's board, which met recently, has approved the plan, based on an expert committee's report.

The board has decided to:

abolish one tire of the present four-tier machinery;

replace 14 zonal offices by 5 offices of general manager (operations) in Calcutta, Delhi, Chennai, Lucknow and Mumbai;

ask each general manager (operations) to oversee the operations of eight to 10 regional offices to reduce delay in operations; * enable the head office to focus mainly on policy and monitoring of bank's growth, after decentralisation.

The bank sources said the re-organisation will effectively reduce the overhead expenditure to about Rs 2 crore per annum in addition to releasing staff for fruitful redeployment at other offices.

According to sources, the bank had come to an understandingwith the employee unions to this effect during May 1997. However, later the board felt the need to prepare a blue print for overall restructuring of its administrative set up. Consultants have opined that the four-tier system should be replaced to have effective operations.

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