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Thursday, March 09, 2006

Outsourcing Irony

According to the this Business-Standard.com article, the All India Bank Employees Association ("AIBEA") has demanded that the Reserve Bank of India ("RBI") withdraw a circular which authorizes nationalized banks to outsource various regular banking services. Such services include "identification of borrowers, collection and processing of loan applications, verification of primary information about borrowers, creating awareness about savings products, post-sanction monitoring, monitoring of self-help groups, follow up on loan recovery, disbursal of small value loans, recovery of principal and interest, collection of deposits, sale of various products, receipt of small value remittances, and delivery of small value payments and other payment instruments."

The AIBEA calls the circular an "outrageous attempt to outsource normal banking activities" and demanded immediate withdrawal of the circular.

Apparently, what's good for the goose is NOT good for the gander.

Hat tip, the Outsource Reporter.


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