AIUCBEF Issues Action Plan on Gold Loan Custody Demand – Act Decisively!
Date: 07 August 2026
Circular No: AIUCBEF/ 121/2023-2026
The All India UCO Bank Employees Federation (AIUCBEF) has issued Circular No. 121 calling upon units to act decisively on the long-pending demand regarding Gold Loan custody responsibilities.
The federation has been demanding relief for Senior CSAs/CSAs from the responsibility of being custodians of the Safe Vault of Gold Ornaments, including duties involving signing of Annexure D and vouching for items. Despite repeated assurances and discussions at Apex level GR and IR Policy Committee Meeting on 15th July 2026, the Management’s revised Master Circular dated 30th March 2026 continues the earlier procedures.
Key concerns highlighted:
– Most branches function with single clerical staff (Senior
CSA/CSA/SplCSA) handling aggressive Gold Loan portfolios.
– Staff are exposed to risk when compelled to bypass laid-down procedures. – Strict adherence to operational guidelines would disrupt regular counter and customer services.
The Retail department at HO has countered the demand, stating there cannot be too many custodians.
Having waited patiently for more than two years, the federation has decided to initiate an action programme. A note of caution was already placed that members would be advised to strictly adhere to every clause of the operational guidelines, even if it affects counter service, if the demand is not addressed within a month.
Action Plan:
1. All units to submit the enclosed letter-notice to Zonal Heads on their union letterhead on 17th August 2026, explaining viewpoints and requesting ZMs to take up the matter with HO.
2. A draft letter will be sent by the Federation for serving to Branch Heads on 31st August 2026.
3. Units to circulate the circular among branch units to prepare for implementation from a date to be decided later.
4. Based on ground-level response and feedback, the ensuing Working Committee at Shimla will take further decisions.
The federation emphasizes that members are only following Bank guidelines and no penal action can be taken. Units are urged to handle the situation with maturity, understanding, patience, courage and confidence, without hurting individuals, straining relationships, or being discourteous to customers or authorities. The goal is not to hurt the Bank but to secure a fair resolution through organized, result-oriented action.
Full Original Circular Text:
ALL INDIA UCO BANK EMPLOYEES FEDERATION
(AFFILIATED TO AIBEA) REG. NO. 3489/CNI
10, BTM SARANI, 2nd Floor, KOLKATA – 700001
REGD OFFICE : CHENNAI(UCO Bank, 328, Thambu Chetty Street, Chennai-600001) Email ID : AIUCBEF.IN@GMAIL.COM/ STAFFUNIONWB@GMAIL.COM
Mob No. 9830018941/7003608652
Circular No. AIUCBEF/ 121/2023-2026
Date: 07/08/2026
Circular to All Members,
Sub: GOLD LOAN- OUR DEMAND VIS -A VIS MANAGEMENT STAND ACTION PLAN – ACT DECISIVELY! ACT WITH DETERMINATION
Dear Comrades,
Units are aware that as against our demand for relieving the Senior CSAs/ CSAs required to act
as Senior CSAs, from the responsibility of being custodian of SAFE VAULT OF GOLD
ORNAMENTS, bank though repeatedly assured to revisit the policy and procedures and
consider our demand, had however come out with a revised Master Circular on 30th March ,2026
, reiterating the earlier procedures, continuing to make the Senior CSAs responsible for holding
the keys of Safe Vault of gold ornaments and their duties involving signing of certain documents
like Annexture D, vouching safe for the number of items of ornaments put in the pockets.
In the meetings held, at Apex level GR and IR Policy Committee Meeting, on 15 th July,2026, the
issue and the demand was raised by us. We gained an impression that the entire team of HRM
was fully convinced of our demand backed by the undermentioned situation … • Most branches are functioning with single clerical staff, may be Senior CSA or CSA or even
SplCSA,
• Most branches aggressively pursuing the portfolio of Gold Loan and increasing activities,
• The available single clerical staff sitting on the counter has to handle multiple transactions and
respond to the demands of the customers,
• The clerical staff are being exposed to risk when they are compelled to bypass the laid down
procedures with regard to Gold loan,
• Possible disruption in regular counter services in case they are to strictly adhere to operational
guidelines prescribed in the Master circular
But authority of the Retail deptt, HO who was present during the said discussion countered it, if not
declining by saying that there cannot be too many custodians, meaning thereby our Clerical staff
are to take the responsibilities.
Disappointed by this, we reiterated our demand and placed a note of caution to the Management
that we would be left with no option except to advice our members to ensure that they strictly
adhere to each and every clause of the prescribed operational guidelines even if it consequently
affects the regular counter service/ customer service, in case the Management fails to see
reasons into our demand within a month.
As is the tradition of a responsible trade union in safeguarding the interest of the Bank and our
own workforce, we do not want the Management to treat our above ‘note of caution’ as an empty
threat and having waited patiently for more than two years, we are constrained to come to a
conclusion that we need to take our demand to its logical end. Thus, we have decided to initiate
our action programme with a hope that the Management would understand the practical difficulties
and we like to advice our units as under:
1. Units to submit the enclosed letter – notice of our action- to all the Zonal Heads duly taking
the print out in their union Letter head explaining our view points to ZMs and requesting
him/her to take up with HO, bringing to their knowledge about what we intend to do. This should
be uniformly done on 17th AUGUST 2026 by all the units.
2. Similar letter, a draft to be prepared by Federation will be sent to you to be served to branch heads
on 31st August 2026
3. Units to circulate this among our branch units to prepare them for implementation from a
date that would be decided by Federation in due course.
4. Based on the ground level response / feedback, ensuing working committee at Shimla will
take further decisions.
It is needless to say that the issue is very sensitive considering the consequential impact on the
branch functioning, we need to remain confident and courageous as we are only following the Bank
guidelines and no one can be subjected to any penal action. But we need to handle the situation
in a calm and composed manner without hurting any individual or causing strain in relationship
between the staff in different cadres. We have our views and claim with strong reasons and
logic. Our efforts are not to hurt the Bank, not to offend any of our colleagues, not to disrespect
the authorities, and finally not to be discourteous to our esteemed customers. Thus, every unit
has a greater responsibility to handle the situation with more maturity, more understanding, more
patience and of course with courage and confidence.
Let us go ahead, let us be determined, let us be well organised to chart and lead the movement
in a result – oriented manner.
Yours Comradely,
(Partha Chanda)
General Secretary
doc_26a664b4e0c5_AIUCBEF_circular_no_121_260810_130307.pdf