Tuesday, January 5, 2010

Bipartite Talks with IBA on 5th January 2010.

Update : next round of talks with IBA have been fixed for 22nd January, 2010 for workmen and on January 23, 2010 for officers.

Further to the last round of talks held on 28.12.2009, another round of Bipartite talks took place today (05.01.2010) in Mumbai between IBA and 5 Workmen Unions viz. AIBEA / NCBE / BEFI / INBEF / NOBW. IBA team was led by Mr. Jagdish Pai (ED, Canara Bank) and from association side all unions were represented.

In today’s discussions staff side continued the talks and worked on tentative proposals with higher loading than what was discussed in the last meeting. Attempts are being made to achieve maximum of basic pay as is possible and feasible, having regard to its consequent impact on retirement benefits viz. PF, Gratuity and Pension. As regards improvements in duties of special assistant, head cashiers and CTO with passing power / single window operator, unions proposed that they can discuss the issue subject to commensurate increase in the allowance, to which IBA had an open mind. Rationalisation of special pay, extending single window operator allowance to all clerical staff, possibility of merging this special pay with basic pay etc were discussed but not yet finalised. The staff side also discussed the proposal for clubbing HRA & CCA and reducing the HRA area / category from 4 to 3 to extend some more HRA in places with lesser population. It has been decided that after mutually working out the above proposals, further items will be taken up. It was also decided that simultaneously the staff side shall also take up the process of drafting the settlement on wage revision / pension option.

Next round of meeting will be fixed up shortly to take the discussions forward and to expedite the settlement.

Source : AIBEA

42 comments :

BALAN said...

ALL THE BANK EMPLOYEES CAN MAKE A JOINT APPEAL THROUGH THIS FORUM TO IBA TO BE MORE PRACTICAL AND ALLOW LIBERAL WAGE REVISION BY KEEPING THE CALCULATOR AWAY AND TO SAVE THE EMPLOYEES FROM THESE UFBU LEADERS WHO CREATED HEAD ACHE TO IBA BY NOT CLINCHING THE PENSION ISSUE IN MARCH 2008 .ONLY TAKING THE PENSION COST TOGETHER IS MAGNIFYING THE WAGE REVISION COST.WE HAVE TO BEAR THESE ISNULTS FOR THE SAKE OF OUR 3 LAKHS FELLOW COPMRADES AND THE DEFICIENCIES TO BE RECTIFIED IN FUTURE ONLY.

BALASUBRAMNIAN

IYER said...

Now, it is time for us to float some e-contests; we may call for SMS/E-MAIL predictions as to how many more meetings would be required to finally arrive at the settlement. the winner - by e-draw would be rewarded with a coveted 'Jyothish' award!

Like Liberham commission, UFBU would get endless extensions of 90 days for clinching the settlement - who knows, it may be beyond 01.11.2012! God please save us atleast now!

sunny said...

Well it has been a considerable delay in the wage revision and we too have become dependent like the poor indian farmer is dependent on mansoon rains. we employees do not have anything to say because IBA AND UFBU are playing at their will.
GOD CAN YOU SAVE US.

SUNNY HYDERABAD

Sanjay Bhatt said...

Come out from the wage revision and pension option.This time we all simply cheated by UFBU leaders,We can't blame to IBA,its manegment.

CAN ANUBUDY TELL ME HOW MANY SLABS OF DA INCREASE IN FEBUARY2010?

post heare

DA increase is our right and its not in hands of UFBU OR IBA.

Ahhhhha......Ahhhhhha.......Ahhhhha

Think all my friends What is my condition?
I am wealthy and healthy but I can't see unjustifiction.

Have a Good Meetings All Of You.


Happy New Year 2010 to ALL.

sudhakar said...

dear Sanjay,
Expected increase in DA is around 32 slabs based on the available figures

IYER said...

Mr Sanjay, based on October and November CPI (165 and 168) and assuming that there will be no change in December over November figure, DA will increase by 30 slabs. If you expect another 3 point rise in December i.e. 171, then the DA rise would be 36 slabs. Hence, it must be hovering around 36.

By the by, though we are partly compensated on the price raise, we need to pay tax on it. It will tantamount to physcological contenment. It is not real increase to our wages. Conversely, we are being systematically denied our legitimate real wage increase despite giving more than 100% with incresed vulnerability and personal predicaments. The situation is paradoxical.

thanks to AIBOC's dillydalying attitude, Officers settlement is hanging fire, for, AIBOC is keeping its cards close to its chest resorting to procrastination!

Like any other politician, our leaders are also openly doing all ugly politics to suit their personal agenda at the cost of the members' welfare! And we will be literally paying the price - mentally, physically and of course, monetarily by way of parting with the paltry pay rise in the name of 'union levy'!

We do not enjoy public sympathy. We do not get cared by our leaders. Our employers are expectng more from us - beyond any limits and our subordinates are unrelenting with deaf ears! Todays officers are "Kolluka bail" with a lot of wounds all over the body!

OH GOD PLEASE SAVE US!

raamraam said...

Dear Friends,IT IS OUR FATE,WE HAVE BECOME ORPHANS& CURSED PEOPLE.NOBODY KNOWS HOW LONG WE HAVE TO WAIT? BUT NO OTHER GO WE WILL PRAY TO ALMIGHTY FOR EARLY SOLUTIONS TO OUR PROBLEMS!!

T J P said...

What happened in the meeting of Officers Association with IBA scheduled on 06.01.2009 for fixation of pay ? Can anybody enlighten us.

BALAN said...

OPEN LETTER TO THE CENTRAL GOVERNMENT/IBA


ALL THE PARTIES INVOLVED IN THE BANK WAGE REVISION GAME KNOWS VERY WELL THAT UFBU MOVED THE ONE MORE PENSION OPTION COIN WRONGLY AND KNOWINGLY FELL INTO THE TRAP LAID BY GOVERNMENT/IBA IN THE NAME OF ADDITIONAL COST.HAVING EARNED AND TRANSFERRED A SUM OF MORE THAN 50000 CRORES DURING THE LAST THREE YEARS AS PROFIT , THE EXISTING EMPLOYEES DESERVES MORE APPRECIATION AND ENCOURAGEMENT. EMPLOYEES ALSO ABSORBED ALL ADDITIONAL WORK LOAD AFTER VRS 2001 SUCCESS WITH NO MATCHING RECRUITMENT, THIS TYPE OF HUMILIATION IS MOST INHUMAN TREAT MENT . ANY FAILURE OF FINANCIAL SYSTEM BRAEKDOWN THAT MAY HAPPEN BECAUSE OF THE DISINTEREST THAT MAY ARISE BECAUSE OF THE LACK OF ADEQUATE COMPENSATION FOR THE SERVICES RENDERED BY THE EMPLOYEES MAY RESULT IN DEFECT IN CREDIT DELIVERY MECHANISM AND AFFECT THE ENTIRE ECONOMY . IT IS DIFFICULT TO REPAIR THE DAMAGE ALREADY DONE. SO FORGET THAT THERE IS UFBU IN BETWEEN BANK EMPLOYEES AND GOVERNMENT , THEY CAN INSTRUCT IBA TO ALLOW LIBERAL WAGE REVISION ON PAR WITH PAY COMMISSION AND SAVE THE FINANCIAL SECTOR .

STIMULUS PACKAGAE IN THE NAME OF SIXTH PAY COMMISSION HAS BEEN GRNTED TO THE ENTIRE GOVERNMENT EMPLOYEES-CENTRAL,STATE,QUASI GOVERNMENT, AUTONOMOUS INSTITUTIONS,PUBLIC SECTOR EMPLOYEES.
INDUSTRY IS PLEADINHG FOR CONTINUING STIMULUS PACKAGE TO IMPROVE THEIR PROFITABILITY .
EXCEPT THE 10 LAKHS BANK EMPLOYEES AND PENSIONERS , EVERYBODY FROM KASHMIR TO KANYAKUMARI ARE DRAWING MORE THAN 50 TO 70% HIGHER SALARY COMPARED TO THEIR BANK COUNTERPARTS.
HENCE YOU PLEASE ALLOW LIBERL WAGE REVISION AND ALSO PENSION OPTION ON PAR WITH GOVERNMENT EMPLOYEES FOR WHICH THE FUNDS ARE AVAILABLE WITHIN THE INDUSTRY.
THINK AND ACT AND SAVE THE POOR BANK EMPLOYEES FROM THIS SORRY STATE OF AFFAIRS. SAY GOOD BYE TO THIS BIPARTITE SETTLEMENT. ENOUGH IS ENOUGH.

K BALASUBRAMANIAN RETIRED SENIOR MANAGER VRS 2001

chandan said...

REPRODUCED FROM THE FOLLOWING HEADLINES IN THE ACADEMIC INTEREST OF BLOG MEMBERS:

Wednesday, December 16, 2009
"State Bank Officers accuse disparity, want separate wage structure, discussed initially with management on this issue."


Swami said...

"Await another 43 slab DA increase from February, 2010. A solace to the high level of inflation."
December 18, 2009 10:46 PM


chandan said...
Referring Swami December 18, 2009 10:46 PM:

"Bank employees DA for February-2010 will be around & within 30 slabs. Not more than it. Oct-09 CPI Industrial is 165, Nov-09 CPI Industrial is expected 167 based on CPI Agriculture/Rural index Nov-09 published on 18/12/2009 & another 1 or 2 point rise can be expected in December-09. If it is 168 for Dec-09, then Feb-2010 DA will be 28 slabs; if it is 169 then it will be 30 slabs. In exceptional situation, if there will be 3 points rise in Dec-09 DA may be 32 slabs, but this chances are quite remote. However it will be never 40 or 43 slabs rise. Central govt DA for July-2010 will be around 9% and will touch 44%. In next rise it will cross 50% mark and 25% out of it, will be automatically converted to Dearness Pay as per sixth cpc's provision to fetch more DA(DP included), HRA & Transport Allowance in term of amount wise."
December 19, 2009 6:21 PM


Swami said...

"Dear Chandan, my calculations are based on the rate of increase over previous year not only under Agri and rural labour which is 2.5% over oct 09, but also rate of inflation of food products, manufutured food products which constitute major part in CPI. The same situation is under way as was in 1998. It will get reduced only by May, 2010. The calculations are not to have more DA but to compensate highest excalating food prices where a 100 rupee note does not finds it true value."

December 20, 2009 7:31 PM

D K said...

DR T J P
THERE IS NO MEETING HELD ON 06/01/09
WITH OFFICERS ASSOCIATION AS FAR WE KNOW.
CLERICAL UNIONS HAD MEETING ON 05/01/09. DETAILS ARE AVAILABLE ON SITE OF AIBEA.
DUE TO DILLY-DALLYING TACTICS OF
AIBOC (DOUBLE ROLE OF MR GD NADAF)
THIS DELAY IS HAPPENING.LET US HOPE BETTER SENSE PREVAILS

D K TYAGI

MADAPPA said...

AS PER CIR NO.93 DT 29-12-2009, AIBOC HAS ADDRESSED A LETTER TO IBA UNDER REF NO.1452/256/09 DT 29-12-2009, REQUESTING FOR ACCOMMODATING FOUR OF THEIR OWN REPRESENTATIVES AND REMAINIGN TWO FROM THE MINIORITY RGANISATIONS IN THE MEETING. SINCE, ALL THE MEMBERS OF NEGOTIAING COMMITTEE IRRESPECTIVE OF AFFILLIATIONS ARE REPRESENTING UFBU, THE AIBOC AS AN ELDERLY BROTHER SHOLUD BE LIBERAL IN ACCOMMODATING THE MINORITY ASSOCIATIONS. TAKING THIS AS AN ALIBI, AVOIDING OF HOLDING THE FRESH MEETINGS FOR FINILISING THE WAGE PACT WITH IBA IS VERY BAD. IBA HELD MEETING WITH CLERICAL UNIONS ON 05-01-2010. IT WAS EXPECTED THAT MEETING WITH OFFICERS UNION SHOULD HAVE BEEN HELD ON 06-01-2010. WHETHER ANY ONE IS PLAYING GAME TO POSTPONE THE FINILISATION OF WAGE/PENSION PACT BEYOND 90 DAYS FOR SELFISH REASONS? AIBOC LEADERS OUTSIDE SBI SHOLUD BE CAREFUL IN HANDLING SUCH ISSUES AND SHOULD FINISH OFF THE JOB BEFORE JANUARY END. MANY PEOPLE ARE EAGERLY WAITING TO GET OUT FROM THE BANKS ONCE PENSION IS OPTED.

Parameswaran said...

Please do not do any funny things and delay the process of settlement. As pointed out in the blog when workmen settlement talks are happening why not for officers which causes worry amongst the officers. But something is going wrong. AIBOC is not participating in the negotitations and parellely SB of Indore employees are coming out from AIBOA and Nationalised bank employees are forming separate union coming out from AIBOC. Most of the officers are already humiliated. They are all waiting for Pension to get retire themselves. Retirees are also waiting to get pension to lead a decent life. Union leaders please sink the differences between yourselves and shed your ego at least till the settlement is signed. Some informed members can tell us what is going on.

Parameswaran said...

Please do not do any funny things and delay the process of settlement. As pointed out in the blog when workmen settlement talks are happening why not for officers which causes worry amongst the officers. But something is going wrong. AIBOC is not participating in the negotitations and parellely SB of Indore employees are coming out from AIBOA and Nationalised bank employees are forming separate union coming out from AIBOC. Most of the officers are already humiliated. They are all waiting for Pension to get retire themselves. Retirees are also waiting to get pension to lead a decent life. Union leaders please sink the differences between yourselves and shed your ego at least till the settlement is signed. Some informed members can tell us what is going on.

SHANKAR said...

Views expressed by few persons in this blog are not acceptable to all.Unions are not for one person or for a section of existing staff or for a section of retired persons only. They are bound to seek justice for all including retirees who are waiting since 14 to 15 years for justice. A person is retired does not mean that his past services are dead and he should not be compensated for his past services.Till justice is done every retired or existing employee
who gets retired at a later date has every right to demand his share for the past service rendered by him at whatever cost his management or government has to bear. Even after death of a person, his family members are bound to incur certain expenditure if they are cultured people.They can not throw his body after death.

MADAPPA said...

NEXT MEETING BETWEEN OFFICERS UNIONS AND IBA IS FIXED FOR 23-01-2010. WE KNOW THAT NOTHING IS GOING TO EMERGE IN THE THIS MEETING ALSO BUT THE GREAT UNION LEADERS, AT LEAST GET THE DATES OF NEXT AND NEXT MEETINGS DECLARED BEFORE CONCLUDING THE FUTILE AND WORTHLESS MEETINGS SO THAT THE ANXIETY AND BLOOD PRESSURE OF MEMBERS IS REDUCED

SHANKAR said...

All members are requested to recall Jaspal Bhatti's one of the "Ulta Pulta"show where in all the staff members of a company makes hue and cry about a meeting to be conducted when their Chairman proposes to visit their office. Nothing emerges out in the meeting but at least they decide the next date of meeting. But in UFBU-IBA meeting even to decide date of next meeting they are conducting one meeting. How lucky bank men are!

PM said...

Mr.Shanker,
your view is true. Leaders have made the whole process of bipartite talks a mockery. Gain if any thing is there , it is for IBA/Govt, and not in favour of bankmen.Here,it is pertinent to recall a statement made by AIBOC leader,in the presence of chairman of IBA, that endeavour should be to finalise the settlement within 45 days instead of 90 days!!.Even to announce date the next round of talks they took about 45 days.Can any one anticipate any positive outcome on 23rd talks?

IYER said...
This comment has been removed by the author.
IYER said...

It is really disheartening to note the utter callous attitude of our leaders and the IBA who have openly been indulging in ugly delaying tactics in giving the paltry wage increase that has been mutualised. They can not justify the delay and the gap between one meeting and the other. For, today for everything we have computers and other gadgets to arrive at conclusion. Kiska Baap Ka Paissa is spent on conducting umpteen meetings! Can anybody come out with the quantum spent? I think that must form enough to give some small allowance to at least our lowly paid subordinate brothers! We can not expect any fruitful outcome from such notorious people. Things will take shape if only atleast one participant starts feeling ashamed of attending a futile meeting and starts finding ways! Astrologically also both Sani and Guru have changed their positions and we can not blame them too!

raamraam said...

Dear Sankarji,
your comment is 200%correct. But what to do? we have been made as a scape goat! OH LORD! PL ANSWER OUR PRAYERS!!!!!!!!!!!!!

Pradeep said...

The present leadership of UFBU has kept transparency at bay unlike the earstwhile leaders both of employees and officers.Apart from this the time gap between one meeting and the other is unexplainable and unpardonable in view of the already lost time of more than two years from the due date of the settlement.Even you calculate the interest@10% on the amount allocated from 1.11.2007 till date the emloyees have already lost about 1000 crores and for every week of delay the loss is around 10 crores.

I would appreciate the leadership to please take note of the restive mood among the general membership before it totally goes against the strength and unity of the organisation which probably what the management and Govt combine want.

Therefore please give no room for such a situation and see that the discussion is continued without giving unreasonable time gap between one meeting and the other which is absolutely possible in the present day technological advancement in the banking industry and see that the employees are not put to further loss which has already affected the net increase and physic of employees because of the inordinate delay.

I am sure the leadership appreciates what has been stated above and works towards the early settlement and implementation on 1st April 2010.

anand said...

Isnt it possible to know how much our money is spent in these meeting for their luxuries through RTI Act?

MADAPPA said...

MISUNDERSTANDING AND TUSSLE BETWEEN THE SBI AND NON SBI UNIONS IS LIKELY TO DRAG THE SETTLEMENT FURTHER. SBI UNIONS MAY NOT ALLOW THE CONCLUSION OF SETTLEMET TILL THEIR ISSUE WITH THEIR MANAGEMENT IS SETTLED OR NEERING SETTLEMENT. IT APPEARS, SBI UNIONS MAY TRY TO USE THE NATIONLISED BANK UNIONS AS A SHIELD TO ACHIEVE THEIR GOAL, HENCE QUICK SETTLE IS BEING, SCUTTLED.

UNIONS FROM NATIONALISED BANKS SHOULD BECOME WISE AND AVOID DOMINANCE OF SBI UNIONS AND GET THE ISSUES SORTED OUT IN THE NEXT MEETING FIXED WITH IBA ON 22ND AND 23RD JAN

MADAPPA said...

Dear Mr.Anand,
The IBA being a public Authority, any one can ask for information on the expenditure incurred on the meetings being conducted with the Unions presently. Information can also be asked on the subject, pertaining to previous meetings of previous settlemets for comparision of figures. Information can also be asked as to how much is spent on drinks,food,lodging expenditure, travelling expenditure and other allowances seperately and in total including the name of participants and his share of expenditure. While seeking information you need not disclose that you are a bank employee and the reason for seeking information.

If you want ask information, you can also ask why the IBA meeting with officers Union is not held along with clerical Unions on 05-01-2010 or on next day and who is responsible for it, whether the IBA or the Unions with specific reasons. The information obtained may please be posted on this blog.

SHANKAR said...

Almost all union leaders are like our nethas. They do not want their followers to get every thing. Problems should be persisting so as to ensure that leadership remain intact.Once a follower becomes independent,leaders have no role to play and they will loose their identity. Hence,the best way is to ensure that their followers are always deprived of one or other thing so that they remain as leaders for ever.
GHODA HAI AUR MAIDAN HAI.

chandan said...

Referring SHANKAR 10, 2010 5:28 PM:

Sir,
You are 100% correct. Public is quite unaware of these internal vices of bank union's set-up & system. They presume Union is "Joan of Arc" for us. This age old mind set up of public must be changed by us, through internet blogs & websites,for a better future of bank employees.

BALAN said...

CORTESY BUSINESS LINE 11 JAN 2010
Bank staff productivity doubles in five years

Growth in business outpaced that in manpower.


M.V.S. Santosh Kumar

BL Research Bureau

Employees of Indian banks have become more productive over the last few years.

According to ‘A Profile of Banks 2008-09' released by the RBI, the average business and profits per employee for Indian banks more than doubled in the five years from 2004-05 to 2008-09.

The improvement was due to business growth outpacing that in manpower. Indian banks registered a total business (advances plus deposits) growth of 135 per cent from 2004-05 to 2008-09, while their employee strength edged up only by 10 per cent. Their branch network grew by 21 per cent.

Public sector catches up

Contrary to the general perception, public sector banks' (PSB) employee productivity grew at a faster rate than that for private sector banks in this period. As of March 2009, both private banks and PSBs had average business per employee of Rs 7.44 crore. However, private banks generated higher profits/employee (Rs 6.1 lakh) with fee income forming a significant proportion of their earnings (which is outside the core business). Fee income for private listed banks contributed 25 per cent of their net revenues for FY09.

PSBs increased their branch network by 2 per cent between 2004-05 and 2008-09.

However, the employee strength has fallen by 1 percentage point in spite of recruiting more than 26,000 people in 2008-09.

Shrinking PSB workforce

The decline in employee base of PSBs during this period was due to a good portion of the workforce getting superannuated and the implementation of VRS scheme in 2000 to rationalise the workforce. More than 1.26 lakh employees of 26 banks were given the VRS option.

Punjab National Bank, Canara Bank and Central Bank of India have seen their employee strength fall the most among PSBs. IDBI Bank, Corporation Bank and Oriental Bank are the top three PSBs in terms of productivity. IDBI Bank has business per employee of Rs 20 crore even as it added around 5,600 employees during 2004-09. Corporation Bank also increased its manpower by 2,200. As the PSBs' productivity doubled during this period, they caught up with its private sector peers in terms of business per employee.

Whither private banks

Private banks increased their workforce by more than 110 per cent over the five-year period. Private banks improved their business per employee by 28 per cent. Some private banks employ direct selling agents who bring in business but don't figure on the bank's payroll; this could overstate their productivity to some extent.

The new-age private sector banks such as ICICI Bank, Axis Bank and YES Bank witnessed improvement in their employee productivity in terms of both business and profits.

HDFC Bank, Kotak Mahindra Bank and IndusInd Bank are the only banks which have witnessed decline in their productivity over the years. HDFC Bank's merger with Centurion Bank of Punjab has taken a toll on its productivity.

As productivity of bank employees shot up, so did their compensation. Even as the total employee count for Indian banks grew by 15 per cent, employees' wages grew by 85 per cent over five years

THE ARTICLE IS AN EYE OPENER IT NEEDS NO EXPLANATION
GOD ALMIGHTY SHOULD APPEAR IN DREAMS OF IBA CHAIRMAN AND FINANCE MINISTERS DREAM AND GIVE THEM NECESSARY INTUITION TO REALISE THAT BANKMEN ALSO DESERVES FOR BIGGER SALARY HIKES . OUR USELESS UNION IS NOT GOING BTO DO ANYTHING

K BALASUBRAMANIAN

raamraam said...

Dear Sankarji,
WITH REGARD TOTRANSFER POLICY! IN MOST THE BANKS IT REMAINS ONLY IN PAPERS THE PREVAILING RULE IS YOU TELL THE PERSON I WILL TELL THE RULE.A PARTICULAR BRANCH VERY NEAR CHENNAI IS A RURAL BRANCH FOR A CHAMCHAA/UNION OFFICE BEARER &NOT FOR YOU&ME.IF WE QUESTION THIS YOU WIULL BE POSTED TO A PUNISHMENT AREA

C N Venugopalan said...

C N Venugopalan
Ex- Manager, Union Bank of India
“ Nandanam”
Kesari Junction
North Paravoor
Kerala – 683 513
Phone No. 0484 2447994 Mobile: 9447747994
No.20091231 31st December, 2009

The Chairman,
Indian Banks Association,
Mumbai

Respected Sir,


Sub: Bank Men and Wage hike


The IBA recently settled a pay hike of 17.50 percent and a fresh option for bank men, including the retired who stayed away from the scheme when it contained a penal clause. Bank unions blow the trumpet saying that the percentage of wage hike is the highest one ever secured as if they are tadpoles in the deep old well. The statistically precise statement becomes quite unacceptable in the context of the 40 percent pay hike given to five days working government employees in the pre-election phase when the six days working bankers are settled for 17.50 percent, which is 56.25 percent less than the pay hike to the former.

Pension Option is a benefit already given in 1995 and later denied unlawfully to majority of employees. The final and irrevocable options of certain employees were revoked and others who could not opt when the scheme contained the penal clause were not given a fresh chance when the clause was deleted in 1999. Unions and directors representing officers and workmen remained mute spectators while the fundamental right of the people they represented was taken away. Bipartite Settlement inked in 2005 stated that the issue of fresh option cannot be reopened. Retired, who were victims were driven to courts and the apex court that heard appeals rejected the plea of the bank men in 2001. Government too took a negative stand that fresh option can not be considered at any rate causing hardship to the retired for years.

Even as public sector banks ( excepting State Bank of Saurashtra and State Bank of Indore whose data were not available) made incremental profits of Rs. 32,148.77 Crores for past three years over the 2006 level, IBA worked out a deficit of Rs.1800 Crores for meeting the Pension burden asking the employees to share this 30 percent of the identified liability. The incremental profit of 13 prominent private sector banks for identical period stood at Rs. 19,486.14 Crores. The hike in interest income of the PSBs was Rs. 1, 19,919.63 Crores and that of the private sector banks was Rs. 75,780.05 Crores. Spurt in profits and interest income, makes the demand of IBA on the employees to share a portion of the Pension Burden a real plight. Want of financial muscles to bear legitimate establishment expenditure proves as a mere extenuation while analyzing facts and figures.

The Agricultural Debt waiver in 2008 came to Rs.70,000 Crores and other normal write off during the past three years stood at about Rs.25,000 Crores. It takes any Indian to utter surprise when banks which could splendidly bear the burnt of the Rs.95000 Crores on write off find it difficult to extend a reasonable package to the workforce and make a foul bargain for Rs.1,800 Crores for paying the pension.

continued

C N Venugopalan said...

Pension Regulations have specifically excluded the resigned employees from its purview albeit possessing the prescribed minimum service qualifying for pension. Mode of exit ought to be immaterial and Pension Scheme has to be fine tuned to encompass resigned too when banks are paying pension to VRS retirees who were given a special package for quitting employment. Resignation is the purest form of Voluntary Retirement embraced voluntarily whereas the VRS is a scheme of induced retirement through special incentives offered.

The Minister of Finance and members of Parliament who have taken oath in the name of the Constitution of the country consenting to treat identical people equally will be at a default if they shut their eyes before realities and fail to extend uniform treatment to bank men of all sort. The fact that Bank employees take their salaries from the profits banks make and not from the exchequer should also be taken care of while settling their deal vis-à-vis government employees.

Thanks & Regards.

Yours faithfully,



C N Venugopalan



Particulars Amount in Rs. Crores
Total Increase in interest income for last three years over the level of 2006
Public Sector Banks other than State Bank of Saurashtra and State Bank of Indore (whose data not available ) 1,19,919.63
13 prominent Private Sector Banks 75,780.05
Amount of Agricultural waiver of 2008 70,000.00
Normal write off for past three years 25,000.00
Incremental Revenue over 2006 level for past three years 2,90,699.68
Pension burden sought to be borne by employees -Rs.1,800 Crores – as a percentage of the of incremental income
0.6192 %

raamraam said...

Dear sri venugopalji,
Let me first thank you very much for highlighting the plight of poor[it is 100% real] retired bank officers.The huge expenditure in changing the logos of some banks [which has already pointed by you]is a collassal waste.But IBA&the govt close thier eyes for our long pending pension demand & the union people also are dilly dallying the long pending demands with so many ifs &buts once again thanking you for taking up our just demands with IBA
with warm regards,
yours sincerely,

[m.j. jagadheesan]
email:nangai.jagan29@gmail.com

Sanjay Bhatt said...

My Special THANKS to MR. Venugopalanji.

Any hope from 22nd & 23rd meeting
after 17 days ?

If no positive result will come then
Its prove itself that "our unity & unoins,associations,leaders are tottaly "B A K V A S H". Union and leaders loose their power to fight for right.Now Union ,Association and so called leaders are only for tale.One and Only has power i.e I B A AND G O V T. O F
I N D I A.
Its a one sided game. KOI SHAK ?
I can't deeply calculte figures and understand datas but after 18 years of service I understand atleast I mentioned over.

Have a good day to all.

- Sanjay Bhatt
spbhatt73@gmail.com

Sanjay Bhatt said...

Everyone

I observe Now in this blog nobudy telling about wage revision only telling about pension... pension...
and pension. I am also PF optee.
Pension is our future and wage is our present.Why west our present for our future.I think everybudy has seen the film "2012"
I will also sure and opt pension option now.But unrevisable pension is not good.Our bank pensioners get basic pension same from 1995 to till.This time We all lose present.Its good for our elders and retired employees.Me also...
But nobudy discusse about wage.All discusses about pension. We get new salary after 2 or 3 months, and in recent DAL Rs.90/- P/kg
Sugar Rs.45/- time no one person discuss about DA that We will get in Feb'10.In DA so called leaders also put us in dark.
Please don't take other way.I am not critising anybudy.I write what I feel and observed.

karan said...

Anybody knows what points are going to discuss in Next meeting on22nd January??

PM said...

Mr. Karan,
Next round of Wage Revision Talks with IBA will be held on 22/01/2010 for Workmen and 23/01/2010 for Officers.
As per AIBOC Negotiating Committee Meeting dated 8th Jan`10,
it is decided to take up the following issues with IBA.

a) To suggest to the IBA Small Committee to consider merger of 3028 points of D.A in B.P instead of 2836 points.

b) To re-calculate incremental cost of pension, to reduce the burden.
c) The CCA to continue for officers.
d) Date of effect of 2nd Option on Pension be from 1st April, 2008.
e) To collect data as regards number of resignations of CPF Optees from 1995 onwards for the purpose of taking up with IBA for their inclusion in 2nd Option.

f) To demand grade pay on promotion.
g) To exclude cost on account of SBI towards medical expenses and gratuity.

karan said...

i get the news that SBI Employees are also going to get only 17.5% in wage revision.govt refused to give more.

karan said...

what is the outcome of today's meeting?plz reply as soon as possible

SHAILESH said...

mr karan,the next date of meeting with iba is 9th feb.2010.hence wait further till 9/2/10.
shailesh

SHAILESH said...

mr.karan,from where you got the message that sbi will get the same 17.5% hike.plz inform us also if possible.
shailesh

chandan said...

WHY BPS IS DELAYED???:

"Once the wage is settled the workers are required to dole out a levy i.e. a percentage of the arrears of their revised wages to their trade unions which they belong. Obviously you understand the trick, more the delay in wage revision, more the amount of arrears so bigger the amount of levies! Surprised! but this is the norm of wage negotiations and despite of deep resentment amongst the workers (whose voices are always suppressed) for the delay and the undue levy, the practice is on ever since bipartite wage negotiation between Indian Banker’s Association and several trade-unions"


'EXTRACT, TAKEN FROM SOMEONE'S COMMENT'

alokkumar said...

it is strange that CPM LEFT IS SILENT ABOUT PENSION OPTION ISSUE OF RETIRED BANK PERSONNEL& EXISTING BANK STAFF. IT IS MORE STRANGE THAT NOBODY RAISED PENSION ISSUE IN PARLIAMENT. IT IS I B A WHO IS PLAYING WITH THE LIVES OF FAMILIES OF RETIRED BANK STAFF ON THE ONE HAND THEY HAVE MADE UFBU AS THEIR PET DOG OTHER HAND THEY ARE DEPRIVING LAKH OF FAMILIES OF RETIRED BANK PERSONNEL. RETIRED PERSON HAVE NO ALTERNATIVE BUT TO APPEAL TO HONOURABLE FINACE MINISTER TO INTERVENE IN THIS MATTER

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