Monday, March 1, 2010

Bank Pay Hike : Hope of early settlement appears to be remote.


It is reported that the talks held on this day[25th Feb,10] have remained inconclusive and there is no likelyhood for early settlement as IBA's attitude appears to be inflexibale. 
Now  MOU dated 27/11/2009 (wherein it was agreed that final agreement will be done within 90 days) has expired on 25/02/2009.  It is a matter of great concern for the bankers as they have waited for 90 days by holding their breath, hoping at least now something will be finalised.  However, both IBA and unions betrayed the bankers.  Instead of talking on a day on day basis, meetings were fixed after fortnights or more.  It is strange that inspite of broad understanding of the maximum that will be given by IBA, both parties are fighting on petty matters.  

A letter issued by GD Nadaf, General Secretary, AIBOC indicates that "on none of our proposals, there was a positive response form the IBA and they stuck to their method of calculation of additional cost on HRA, pension and distribution of wage load of 17.5% on various scales. It appeared that, we have reached a dead end. The discussions concluded without any fruitful result"....Click here for full text of the circular.

Is it not a clear admission by these leaders that they failed to convince IBA even on one of their proposals?  Should members believe that these leaders are either talking illogical or without facts with IBA?   Should members believe that these leaders have no sting left in them to even move IBA by an inch?  The above statement is clear admission of the failures of the union  leaders.  There is strong feeling among the bankers that such retired bankers holding high posts in the unions and enjoying the benefits from the monthly subscription of the members and taking levy on settlements should immediately resign and leave the field for serving and young members.

65 comments :

Sanjay Bhatt said...

Then Why not giving call for indefinite strike ?

Don't be us fool.

Don't try to play with our emotions,
otherwise you(leaders) will burn from all sights.

SHANKAR said...

For reasons best known to unions they are avoiding indefinite strike calls particularly during March every year so that the matter can be dragged for another year without any fruitful result.

SHANKAR said...

WHY BANK STRIKES NOT YIELDING DESIRED RESULTS?
In almost every industry a strike means maximum harassment and inconvenience to the customers and public.The result is the concerned authorities will immediately wake up and respond to the strike calls and the matter gets settled.
But in bank strikes, almost every bank employee is equally concerned about customer inconvenience.He takes almost every precaution to ensure that customers are put to least inconvenience and their works will be attended either previous day or a day after the strike so that the cordial relationship with customer is maintained. Taking advantage of this weakness of bank employees, both IBA and Government authorities are treating the problems of bank employees in a casual manner.If bank staff take every step to inconvenience customers to the maximum extent, response from Government and IBA may be spontaneous but no bank employee is ready to behave irresponsibly and hence this delay.

chandan said...

From reliable source, report comes, revised salary we will draw in MAY-2010. The strike may or may not be taken place on 5th March. UFBU is not calling it, only supporting it as per the call of Apex Level Trade unions. As per rules and practice they have bindings to follow the apex level. I don't know whether INTUC is with it or not.

Thanks.

Parameswaran said...

It appears that leaders are meeting IBA chairman on 4th March.

Sanjay Bhatt said...

Now When will We received is not questions.But It is cleares that UFBU Leaders have no meaning of contract/promise(i.e.MOU dt:27/11/2009).

We should not hope/aspect from our Hare-hearted leaders.They can't take risk for their members.They afraid from IBA/GOI for their position.

UFBU leaders style of negotiation like surrendering to IBA also will put our job security in danger zone.

Now leaders became dangerous for us.

hitler said...

The union leaders as well aas IBA are busy filling up their own asses. The members should collectively resign from union, stop paying subscription fees, and go for indefinate strike in the month of march jeopardising annual closing. only then govt will come to terms. In no case bankers should settle for wage hike (45%) which is less than counterparts in Govt and PSU.Govt employees are bastards, with no accountability, work only for 5 days, come at 11am and leave at 3pm. Anything less would encourage people to leave PSU banks and would serioulsy undermine their ability to attract and retain people.

PM said...

From the latest developments, it is clear that 9th Bipartite Settelement will not take place before 31st March or in near future!
The fate of lakhs of Bankmen, is in the hands of few dirty Union Leaders!
1. Once MOU is signed on broad understanding on wage revision/ Pension going away from signing final settlement on flimsy ground exposes once again the hidden agenda of leadership.
2.Either leaders wanted that the settlement should not take place during the current financial year for reasons best known to them.
Or they have to obey their Boss- IBA- in not proceeding with Pension option at all.
3. For employees in any sector strike is the only weapon to force the managements to come to the table for settlements.Enlightened Bank Employees are exception now!!
4.Union is proved beyond doubt once again thst they will not call for strike at appropreate time ie. during March.Need not think about an indefinite Strike!!Whom they are afraid?
IBA is sure that surrendered leaders will not do that.
5.The fate of retirees is in worst condition. It is told that they may get pension from date of settlement only and here there are no sign of settlement visible in near future.
Updation of pension/neutralisation of DA is also becomes dream.
6. Unless strong action is initiated by Union in right time nothing will happen in favour of employees.Instead of day to day continued discussions, leaders keep mum for weeks together to have date for discussion for one or two hours
WHEN UNION LEADERS BECOME ENIMIES OF ITS OWN MEMBERS WHO WILL COME FOR RESCUE OF BANKMEN? TIME ONLY GIVE AN ANSWER.
If there is a will there is a way.Is it end of a begining or begining of End?

bob said...

Neither the Union leaders nor the IBA are keen on an honourable settlement at an early date. (It's already quite late!)

The management of public sector banks and the unions are also not serious about shortage of staff in banking sector. The managements are introducing new products, opening numerous branches and the unions are welcoming them. Can we really give good service to the customers with so many things to focus at the same time? The bank management and the unions have forgotten the axiom that "no two straight lines can enclose a space".

SHRADHANJALI said...

I have been going through the blog and find that every body seems frustrated. Frankly speaking,the so called flag bearers of the association otherwise known as "wise people" among us have sold our interests for their own interests. Now, the blog page is full of comments regarding pension without referring to the wage part. Why should it be that we should think of the pension of people those who have left the Banking industry since long at this juncture. It is ridiculous and frustrating.Think again!

chandan said...

Referring SHRADHANJALI 3, 2010 9:49 PM:

I am an existing bank employee with pension option. The answer to the raised question "Why should it be that we should think of the pension of people those who have left the Banking industry since long" is as because we live in a country whose rich culture & tradition teaches us to think for elder’s welfare. And thinking/discussing on pension in this blog is not an exception of that.

Thanks.

SHRADHANJALI said...

Chandan Sir, While I agree that this short of measures can always be a part of the state welfare,It is hard to digest, how a few people can decide that a part of a large group's hard earned money is passed on for some welfare measures.Was there any referendum from the members prior to deciding this took place. The answer is known to all.

SHRADHANJALI said...

Chandan Sir, In continuation to my comments, I would like to further add that had there been a phenomenal rise in salaries, this could have been an acceptable proposition. But when it is a meager amount, I think most of us will not want a chunk of our cake being taken away from us, more particularly when we are all hungry

chandan said...

Referring SHRADHANJALI 3, 2010 10:45 PM:

Till date we don't have a referendum system in the decisions taken or forwarded by the bank unions. Unions might have thought that their members are yet to be majors. Very sorry affairs.

Thanks.

SHRADHANJALI said...

Chandan Sir, Now that you have to some extent concurred with the views, do n't u think that since most of the leaders are already retired from Bank's active service, and have already planned a peaceful retired life, we are simply making their life more complex by showing them some teaser lollipops, so that they can not even live peacefully, more so when most of them should not think of the material world as per our culture. Thanks

SHRADHANJALI said...

Please read "most of our leaders" as retired beneficiaries of pension. Error regreted

raju said...

The pension matter should be understood properly.

When choice was given to opt, situation was different. Participation in strike was a disqualification on pension.Moreover some Unions were persuading members not to opt for pension.So many innocent members did not opt for pension. Afterwards, the conditions and situations were changed. So members sought another option. But they were not given the chance.So many members were at a disadvantage.But then new recruits had a builtin facilty.So it was natural that the leftout members should be given a chance. In between as the IBA did not take a decision many such members retired.So it was injustice to them. In collective matters, it should be the aim that maximum members get benefitted.It is due to some scarifice by earlier members that we are what today.We also have to sacrifice something for others. Otherwise it is only private "peti".

chandan said...

shReferring SHRADHANJALI 3, 2010 11:06 PM:

Convener UFBU informed us:

"17.5% does not include the pension cost of pf optees. That will be an additional 6.05% over 17.5%."

So we are waiting to see how much SBI officers/ employees are getting in lieu of this 6.05% as because in SBI all have pension being Third retirement benefit. If they fail to get an appropriate hike of this 6.05% then certainly our calculation for including this 6.05% in wage hike( if pension re-option would have not been there) will be completely wrong.

Thanks.

SHRADHANJALI said...

Chandan Sir, As SBI has been left to fight for it self, they may not get a befitting compensation matching the 6.5% kept aside for pension. Further, is the hike really exclusive of this 17.5%. Are u'r calculations suggesting the same? Of course, if that be the case, I think the hike would have been 24%. Further, referring to Mr Raju's comments, true that our earlier leaders/retired employees who are no more active members have sacrificed a lot. But for the first time we find the Grand Pa's taking a large chunk of the legitimate dues of the grand children/children. Just think up and ask your self. Thanks & Regards

Parameswaran said...

Dear Shradhanjali

Please tell me whether 17.5 (proposed wage hike)is lower than 6.5(proposed pension load). If that is not true then grandpa is not taking the legitimate dues of grandchildren. Hope you will agree with this. You will also one day become a grandpa.

PM said...

Ref: Shradhanjali March 04.
1. The views expressed are against facts.Please understand that it is a well recognised fact that pension is a right of the employee and not a gift of the management.
2.Leaders of UFBU /IBA mixed up the Pension issue with 9th BPS wage revision for reasons best
known to them.
3. Second option of Pension
itself is a wrong notion and it is only extension of a denied benefit to bankmen after about fifteen years.
4.Pension fund is a different one managed by trustees of fund which has no relevance with wage revision.Unfortunately leaders gave now a chance to talk about the subject along with 9th BPS.
5 Every one will retire one day and blaming the retired
people as if they are grabbing existing workers eligible benefits is not in good intention.

Parameswaran said...

What is happening now with respect to settlement. All sites are silent about this. Whether the settlement will happen or it will not happen at all. If anybody knows about anything please inform for the benefit of other blog members.

T J P said...

Why you people are in so hurry for settlement??

Shri Shri 1000000000000008 Venkateshswamijimaharaj ( read CHV) has already replied to one blog member that the last settlement was signed in June 2005 and therefore the current one is not due before June 2010.

So please wait and watch till then like an obedient COMRADE!

PM said...

AIBOC states that:-
"AIBOC leadership will meet the Chairman IBA shortly for his intervention to break the stalemate in wage negotiations"
MOU has been signed by UFBU/IBA on 27.11.09 to finalise the settlement within 90 days time frame.
That date is over now.Nothing materialised sio far.Again seeking appointment with Chairman, IBA will give some more time to delay the matter.
17.5% wage hike and Pension option have already been agreed by UFBU and IBA as reflected in MOU.
Where is the stalemate now? Whether chairman can do any thing great to bankmen beyond the interest of FM/MOF/GOI ?
Why the Drama is repeating?

sunny said...

I FEEL

MEN MAY COME AND MEN MAY GO BUT THE WAGE NEGOTIATONS GO ON FOR EVER .

MANY WICKETS HAVE FALLEN DURING THE WAGE NEGOTIATIONS,
SOME ARE STUMPED
MANY ARE RETD HURT

HOW LONG WILL THIS WAGE MATCH WILL GO ON

THE UMPIRES AND THE THIRD UMPIRE ARE ENJOYING THE MATCH WITH MORE FINGERS UP

THE SPECTATORS ARE WAITING FOR THE RESULT OF THIS MATCH

THE ORGANISERS ARE DOING AISH (FROM THE COLLECTIONS MADE) IN THE DRESSING ROOM

THE PLAYERS ARE COMING TO THE FIELD ONCE IN FORTNIGHT

SUNNY

SHANKAR said...

Referring to Shradhanjali-March 3, 2010 9:49 PM
Without studying pension issue from the beginning you may not understand the relevance.Without pension issue settled, wage settlement would not have been concluded because nearly 3 lakhs employees have been participating in strikes called by unions for pension issue from past 15 years and not for wage revision. Instead of bringing a stay through court of law for wage revision,employees who were denied pension for no fault of them were patiently waiting for the issue to be settled since 15 years. It is their legitimate right to seek pension because it is not a gift by anybody.It is discrimination between two section of employees viz one who opted and one who did not opt for the restrictive clause put forth by IBA in the beginning and withdrawing subsequently and not extending pension after wards. After collecting PF ranging from Rs 3 lakhs to Rs 10 lakhs they are extending pension now which was denied earlier by IBA without any fault of employees.If pension remains unsettled wage revision would be a nightmare because all the strike calls would have been utter failure.Further pension settlement should be settled prior to wage revision. It is not out of funds earmarked for wage revision. Hence nobody has any right to object the right of employees who are demanding pension.Subject of pension will remain for ever even after this settlement since a New Pension Scheme is framed, which may or may not be beneficial to employees joining after 31.03.2010.
Hence pension is not at the mercy of anybody.It is a right.

Sanjay Bhatt said...

I am happy today,Resp.CHV reply me.
Please see my e-mail:

On Tue, Mar 2, 2010 at 10:56 PM, Sanjay Bhatt wrote:
Resp.Com. C.H.Venktachalam,

Sir,It is very suspense created from UFBU. We can’t understand Why?

But We understand all games, tricks and reasons also.

Now no one has important pension and wage, because time is gone for to feel charm.

Now questions and problems in our mind is that Why no transparency?

No communications from leaders means they have thief in their mind.

Now We have no hurry for pension or wage. You can take your time for playing game with IBA.

We all proud of you.

Really We have proud for your passions even after 90days time frame finished and you nothing feel, nothing action.

Who is right ? You or Mr.nadaf. Mr.nadaf told that not a single time and on single point IBA has gave positive response then Why talks continue?

What is your passions, Sir?

We really proud of you.

Regards.

(#** We have no funds(money) and time to attend meetings for listen clarifications instead of fast mediums like e-mail or circulars)

Sanjay Bhatt said...

REPLY OF C.H.VENKTACHALAM

Attachment:CIR NO.55.5.doc(95KB)
On Tue, Mar 2, 2010 at 10:56 PM, Sanjay Bhatt wrote:
Resp.Com. C.H.Venktachalam,

Sir,It is very suspense created from UFBU. We can’t understand Why?

But We understand all games, tricks and reasons also.

Now no one has important pension and wage, because time is gone for to feel charm.

Now questions and problems in our mind is that Why no transparency?

No communications from leaders means they have thief in their mind.

Now We have no hurry for pension or wage. You can take your time for playing game with IBA.

We all proud of you.

Really We have proud for your passions even after 90days time frame finished and you nothing feel, nothing action.

Who is right ? You or Mr.nadaf. Mr.nadaf told that not a single time and on single point IBA has gave positive response then Why talks continue?

What is your passions, Sir?

We really proud of you.

Regards.

(#** We have no funds(money) and time to attend meetings for listen clarifications instead of fast mediums like e-mail or circulars)



--
C H VENKATACHALAM

Sanjay Bhatt said...

Here is Attached CIR NO.55.5.doc text:
CIRCULAR NO. 26/55/2010/5 February, 25, 2010

TO ALL UNITS & MEMBERS :

Dear comrades,
Talks with IBA today

One more round of discussion on our wage revision took place today between IBA and 5 workmen unions’ viz. AIBEA, NCBE, BEFI, INBEF and NOBW.

Continuing the discussions of last round of meeting held on 9.2.2010, today we argued for one more stagnation increment to be made available for senior clerks and sub– staff and it was decided to workout the cost implication of the same. As regards cost of rationalisation of special pay, after our pointing out the number of clerks and sub-staff involved, the revised working resulted in substantial reduction of cost. This additional available amount can now be distributed to other heads like Basic pay, HRA, Transport Allowance, etc.

On the important issues like costing the existing cost of pension, date of effect of pension option, balancing the cost between PF and Pension, etc. IBA maintained their standpoints and we informed IBA that these common issues will be dealt by UFBU.

For the information of our Units and members, we give below the following tentative proposals on which discussions have taken place so far. These are subject to finalisation in further course of discussions and effort is being taken to reach conclusions on all the issues and to expedite the settlement.

1. Basic Pay:

Sub-staff: Rs. 5500 – 200/4 – 6300 – 250/5, 7550 – 300/4, 8750 – 350/3, 9800-
400/3 – 11000.

Clerk: Rs. 6200 – 400/3, 7400 – 500/3, 8900 – 600/4, 11300 – 700/7, 16200 –
1300/1, 17500 – 800/1 – 18,300.

2. Dearness Allowance: 0.15% of pay per slab over 2836 points of index.

3. HRA: CCA is being clubbed with HRA. Proposed HRA rates:

- Places with 45 lacs and above : 9.50%
- 12 – 45 lacs : 8.75%
- 5 – 12 lacs : 7.50%
- Below 5 lacs : 7.00%

4. Transport Allowance: Rs. 200 p.m.
5. Special Pay: To be revised upwards w.e.f. 1.11.07

Rationsalisation: Clerks (a) All those who are not getting any Special Pay to be paid Rs. 1000 p.m. with some mutually agreed limited passing powers.

(b) All those who are getting some Special Pay now, will be revised to Rs. 1500 p.m. with suitable increase in powers.

(c) Head Cashiers & Special Assistants: These posts will continue with higher Special Pay.

Sub-Staff: Special Pay to be revised upwards with minimum Special Pay of Rs. 350 p.m. to all.

(to be continue)

Sanjay Bhatt said...

6. It is proposed that, after such rationalization exercise, from 1.5.2010, Special Pay of Rs. 1000 for all clerical staff and Rs. 350 for all sub–staff will be added to the Basic Pay and Basic Pay will stand increased accordingly. Balance amount will be continued as Special Pay.

7. Medical Aid: Proposed at Rs. 2000 per year.

8. Hospitalisation: Under Discussions for improvements.

9. LFC: Under discussions for improvements. IBA has agreed that the present condition to avail
4 days leave while encashing LFC, will be deleted.

10. Part Time Employees: Those who are now in lump sum monthly wages will be upgraded
to 1/3rd wages.

11. Washing Allowance: Will be increased to Rs. 100 p.m.

12. Cycle Allowance: Will be increased to Rs. 75 p.m.

13. Project Area Compensatory Allowance:

Will be increased as under:

Group A: Clerks: Rs. 205
Sub-staff: Rs. 180

Group B: Clerks: Rs. 180
Sub-staff: Rs. 150

14. Split Duty Allowance: Will be increased to Rs. 125

15. Hill & Fuel Allowance: Same % rate on revised Basic Pay.

16. Halting / Diem Allowance: Being increased.

17. Income Definition for dependency: Rs. 3500 p.m.

18. Definition of family: To include physically challenged brothers and sisters with 40%
disability.

19. Road mileage rate: Will be increased to Rs. 3 per km.

20. Breakage Allowance on transportation of personal effects:
Being increased to: (with receipt). Clerks Rs. 1120; sub-staff: Rs. 745
(Without receipt) Clerks: Rs. 745; Sub-staff: Rs. 560.

21. Special Leave for women employees: Within the entitlement of Maternity Leave, Special Leave upto maximum of 45 days will be granted for undergoing Hysterectomy operation.

22. Special Area Allowance: Will be improved.

23. Fixed Personal Pay: Will be increased suitably based on revised Basic Pay.

24. Professional Qualification Pay: Will be suitably increased based on revised Basic Pay.

25. Gratuity: Will be paid based on revised Pay (Basic Pay + Special Pay) or under Gratuity Act
whichever is higher.

Comrades, it will be appreciated that most of the issues raised by us in the charter of demands have been covered so far. Some more issues still remain to be sorted out.

But it is important that the common issues like Pension cost, date of effect of option, cost balancing, etc are also sorted out before things are finalized. Attempts will also be made to further revise the Pay scales, subject to re-allocation of amount from one head to another.

Simultaneously, the process of drafting the pension option settlement is also being taken up. While these are positive features, we are concerned that on important common issues like pension costing, date of effect of pension option, balancing cost of PF and Pension, etc, differences persist between IBA and UFBU. These issues have also to be sorted out expeditiously.

While all efforts are being done to conclude the settlement, units and members are requested not to yield to unwarranted anxieties or misinformations.

Further developments will be informed to units in due course.

Warms greetings,

Yours comradely,

(C. H. VENKATACHALAM)
GENERAL SECRETARY

-----------------------------------
OPEN Quiz FOR ALL.
I can't find out answer for my single of question.They simply attached circular Which all text allready put on AIBEA web site.Nothing clarify by them.
But I am happy by reply of them.Because its prove that this blog comments noticed by UFBU and as well as IBA.
Question is that can you find any clarification?

SHRADHANJALI said...

Referring to the statement of Shankar Sir regarding pension, I just want to convey that I am not against pension per se. But against the way the same has been thrust on many a members. Had it been equitable & the demand for salary hike comparable with that of the present day hike of govt employees, the pension would have been acceptable by all & sundry. But, in the current state, I hope you will agree that the salary hike is less important than pension, as if an indication of we are all working for pension only. If this is the view of this discussion board, god forgive, we have a mind set of an era which will be extinct sooner than later.The new generation will never forgive for this treacherous act ou ours. Thanks

SHRADHANJALI said...

can any one throw some light into what the officers are going to get! any breaking news!

Sanjay Bhatt said...

No Breaking News,But
Breakdown News.

Till the minutes nothing +/- news.

chandan said...

Referring Mitul 1, 2010 1:40 PM:

Mitul said to Chandan:

"Can you give even single such example where executives in bank like AGM,DGM GM or CGM's were ever caught even they are dealing in such industry where such activities shameful activities can easily take place if these EXECUTIVEs OF BANK started doing this..."


Chandan replied to Mitul:

Meet your friends from your esteem banking fraternity.
-----------------------------------------------------------------------------------

Former Indian Bank chairman sentenced to 14 years in prison:


Chennai, April 27 2009 - 9:46 pm ICT by IANS :

A fast track court here Monday sentenced former chairman and managing director of the state-run Indian Bank M. Gopalakrishnan to 14 years imprisonment for fraud. CBI special judge S. Rangarajan found Gopalakrishnan and another senior official K.V. Shanmughasundaram guilty of favouring two Mumbai-based private companies by misrepresenting facts and causing loss of over Rs.100 million to the bank.

“The accused misrepresented facts and awarded letters of credit on forged documents to the arraigned companies causing loss to the bank to the tune of Rs.10 crore,” the judge said in his order.

The court also fined Gopalakrishnan Rs.7 million and his former colleague Rs.8 million.

The cases under sections 120b (conspiracy) and 420 of the Indian Penal Code and Prevention of Corruption Act were registered in 1993.

The court, however, acquitted the company’s officials Yashpal Kumar, V. Rama Rao and Geetha Vohra who were also charged in the cases.

One of the accused P.J. Vohra had died during the trial.

Following the conviction, the former bankers’ bails were cancelled and they were taken to the high security Puzhal Prison, officials said.

Gopalakrishnan is said to be close to several politicians and heads a small caste-based political outfit that supports the ruling DMK.

------------------------------------------------------------------------------------

Thursday, August 21 1997

IOB chairman's arrest ordered

EXPRESS NEWS SERVICE

CHENNAI, Aug 20: Principal Sessions Judge (Central Bureau of Investigation cases) S S P Darwesh has directed the CBI to complete the investigation into a 3.6 million US dollar Indian Bank case and to arrest the remaining accused -- K Subramaniam, the then general manager (credit) (presently chairman, Indian Overseas Bank), S Veeraraghavan, former deputy general manager and N B N Rao, ex-deputy general manager of Indian Bank.

He has also asked for the final report to be filed in the court within three months without fail. The judge gave the direction while rejecting an application from Gopal Pasupathy, a Singapore national, praying for a direction to relax the bail conditions with regard to place of stay.

A case had been registered against the three former Indian Bank officers on the charge that they had entered into a criminal conspiracy with Greenseas Shipping Company (P) limited, Singapore, and in pursuance of the conspiracy, they sanctioned a term loan of 3.6 million US dollars on March 28, 1990, in violation of the banking rules.

The petitioner was a director of the Singapore firm during the relevant period. He was arrested on April 28, 1995 and later released on conditional bail.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.

(Continued to next post)

chandan said...

(Continued from earlier post March 5, 2010 6:27 AM)


Former SBI chief gets 6 months in graft case
Tue Dec 9, 2008 03:24 IST
_______________________________________________

A former managing director of State Bank of India (SBI) was convicted by a special CBI court last week for obtaining shares and debentures of companies for a price lower than the prevalent market price in 1993.
Special judge Ashwini Kumar Deore convicted and sentenced him to six months' imprisonment under Section 11 of the Prevention of Corruption Act last Wednesday.

As per the court record, V Mahadevan, who was 74 when he was convicted, made "pecuniary gains" of over Rs19 lakh at the time.

The anti-corruption wing of the CBI arrested Mahadevan six days before his retirement on June 14, 1993 alleging that he misused his official position and purchased shares and debentures from director's quota from various companies.

Mahadevan was posted as a MD in SBI, Central Mumbai branch from 1987 to 1992 and appointed by the Ministry of Finance, department of economic affairs. He was dismissed from service on June 25, 1993. He was booked under Section 11 of the Act, which speaks of a public servant obtaining a valuable thing without consideration from someone he deals with, among other relevant sections. The prosecution examined 12 witnesses.

While Mahadevan admitted before the court that he bought the shares and debentures at a low price, he argued that none of these were bought by "using his influence." None of the witnesses, he argued, stated that he had shown any favour to any of the companies. He said that he had used his lawfully earned money to purchase these shares and debentures.

The prosecution argued that for proving Section 11 of the Prevention of Corruption Act, the misuse of official position is not necessary. As per law, all that needs to be proved is that the accused "obtained the valuables for no consideration or inadequate consideration.

------------------------------------------------------------------------------

Mr Mitul,

Hope I can meet your desire to a satisfactory extend.

Thanks.


-------------------------------------------------------------------------------

NB: Discussion on this subject has been closed as agreed. These news items are only to enrich Mitul's knowledge. He should take a note that I never put any nonsense data(as he complained in BSNL profit subject) but my data is ever in much sense and based on facts & figures.

SHANKAR said...

Referring to Shradhanjali-March 4, 2010 11:20 PM
I think the point needs more elaboration.Wage settlement is being settled depending on the Establishment expenses incurred by banks as on the date of a particular financial year and the percentage will be worked out depending on the bargaining power of the unions.It was 9.50 %, then 13.50 % and now 17.50 % without pension burden.So even when there is no pension demand it will not exceed 17.50 % at any cost.This pension burden of 6.05 % is in addition to 17.50 % which IBA has agreed.If unions reject it, then it will go back to banks and employees will not get any additional percentage added to this 17.50 % which is final. Further as a PF optee, myself and so many others like me do not want any mercy from IBA. In 1995 collecting managements contribution of PF, pension was offerred with a restrictive clause and we want the same option only, again after removal of restrictive clause, which IBA and unions took 15 years to decide. Even now we want the same scheme and not any extra or less which unions have failed to achieve and asking employees to share the burden partially.This is mainly because in 1995 an indefinite strike call was not given by unions after removal of restrictive clause to settle the matter once and for all. Now anybody can decide who were at fault. Whether it was employees OR Unions/IBA. If there was no restrictive clause in 1995,every body would have opted for pension and the matter would have been a closed chapter for ever.Not opting for pension was because of this restrictive clause by few and not because of interest rate at that time. Only unions and IBA dragged this matter for 15 years unnecessarily thus creating doubts in the minds of younger generation employees.

SHANKAR said...

To Sri Shradhanjali-
Further to my views dated March 5, 2010 9:33 AM,
Everybody should clearly understand the wrong notion that others are sacrificing for extending another option of pension by IBA to PF optees and if pension issue was not there wage increase would have been more than 17.50 %. It is absolutely wrong and getting even one Rupee extra for wage increase is ruled out.IBA should have allowed every body to opt for pension immediately after removing the restrictive clause in 1995.(Employees participating in strikes will fore go pension.)
If IBA denied it at that time it is for IBA to rectify the error.
If there was no restrictive clause everybody would have opted for pension. Pension is paid out of the employee's own fund and not from contribution of other employees. This should be clearly understood.I am not obliged to any employee for getting my pension out of my own fund. There is no need to imagine what our fore children would think at a later date. We are not robbing anything from their share. In fact we are leaving our own hard earned money with the Management after our death to future generation employees.
Lastly you will come to know in the next settlement if take place in 2012, that pension issue being settled now, the wage increase may be lesser than the present one and never be equivalent to Central Government employees unless some miracle takes place.
Pension issue has 15 years history with struggle several court rulings and wage increase will never take place without settling pension issue.
Finally, in RBI pension has been offered for more than 6 times to everybody.

Mitul said...

Referring to CHANDAN sir March 5 6:32 AM
-------------------------------------Sir a good home work is been done by you, but still I could not find the enough reasons to get satisfied from the 2 example given bey you...

Sir,I had never said that Banking industry is untouchable of corruption but the ratio as compared to Government of India employees is still a negligible one as I mentioned it would be 1:99 ratio,and the positions among state employees is more critical,the two examples that you have given were well known scam in Indian banking history,

Sir but one should notice that both the officers found involved in the scams were not the regular employees of BANK, but one is CHAIRMAN and the other is Dy.MD,the officers at this levels have least association with the bank as compared to the other regular employees,

Sir can you list any name up to the CGM level employee who were found guilty in such scam,yes there would be some officers at junior level who ask for commission to sanction the loan of poor people, but again please compare the ratio.

Sir do you have any example to quote here where an employee at Junior level like clerk or sub staff asking for such bribe from the customer on the account of depositing tteir money or handling their cash,or to transfer their important files from one desk to the other.
But you will definitely find such cases among GOI employees at such lower levels also.

Sir,you said that you were a part of telecommunication department some time then the situation should be much better known to you,as in telecommunication department it was much difficult task to get your work done without doing something extra,starting from line man who is responsible to make connections was hardly works without asking for commission, and once you deny then you would be the sufferer, you will not get your connection get rectified on time ever,

Sir at clerical level once when you go to deposit you bills the counter clerk tries to keep the change most of the time, other wise you have, bear the pain of wasting your time at these counter,
Sir,this trend is very much popular in ticket counters at Railways and even in transport buses of state government.


Sir

Mitul said...

...Continued...

Chandan Sir do you people in bank are involved in such practice to keep the change when a customer comes to you to deposit their money,

Sir as you have quoted two example involving in such scam even those were not much relevant to the regular employees of that banks,

Sir I can give you at leas 200 examples then where GOI Regular employees are involved in such cases,
Sir the most resent one is the LAND SCAM made by LT. GEN rank officer of Indian army Military Secretary Lt General Avadesh Prakash.

there are 199 more that I can post here and can maintain the ratio of 1:99.

Thanks and Regards...

ajitnaik said...

There are some news that wage revision will be over before 17th March, 2010. Cost sharing of pension fund is linked to certain %of PF amount received by retirees. 170%, 156% etc for retirees during the period 1993-1997,1998-2001 like that. Is there any truth in this news?

PM said...

Ref; Mr.Shanker.March 5, 2010 6:11 PM
Mr.Shanker has eloborated the facts pertaining to Pension option of Bankmen, in right manner. The details furnished gives an insight to those who still believes PF optees are grabbing the share of their wage hike!Those people have not gone deep to ascertain and study the facts before writing blogs.It is also true that it is difficult for Bankmen to achieve parity with other sectors in coming settlements. Costly errors have already been committed by leaders in the name of employees/retirees by mixing up 9th BPS and Pension issue.Still nothing has been achieved except an expired MOU!!

sudhakar said...

If we kick out Mr Nadaf and Mr Venkatachalam we will definitely clinch the deal for 9 BPS. Why these two leaders(people) still hanging on to their seats despite their failure.
It is high time that they should vacate their seats for next generation leaders.

SHRADHANJALI said...

Apropos Mr Shankar's comments/clarifications on pension issue, I have one thing to say that your view point that we would not have got higher % than the present one is wrong. The mental block that IBA would not pay heed to higher % is yet to go from your mind. We lost the case as there was no focused approach & the leaders went for flimsy issues (w.r.t the wage hike) rather than the one point agenda. We could have easily fought for the other important issues like pension, compassionate appointment etc latter. It is a clear case of leadership failure with hardly any progressive vision (as our retired leaders should correct their vision immediately if they at all want to be adored as leaders). Sorry for the remarks.Thanks

chandan said...

Referring Mitul 5, 2010 7:50 PM:


Mitul said," Sir can you list any name up to the CGM level employee who were found guilty in such scam"


Chandan replied, "Principal Sessions Judge (Central Bureau of Investigation cases) S S P Darwesh has directed the CBI to complete the investigation into a 3.6 million US dollar Indian Bank case and to arrest the remaining accused -- K Subramaniam, the then general manager (credit) (presently chairman, Indian Overseas Bank), S Veeraraghavan, former deputy general manager and N B N Rao, ex-deputy general manager of Indian Bank."

Meet your CGMs:
------------------------------

1)K Subramaniam, the then general manager (credit)

2)S Veeraraghavan, former deputy general manager

3)N B N Rao, ex-deputy general manager


-------------------------------------------------------------------

NB: Question you raised earlier:

"Can you give even single such example where executives in bank like AGM,DGM GM or CGM's were ever caught even they are dealing in such industry where such activities shameful activities can easily take place if these EXECUTIVEs OF BANK started doing this.."


BUT NOW YOU HAVE CHANGED THE MOTION AND SWITCHED OVER TO A DIFFERENT AREA, ASKING ON LOWER LEVELS. YOUR DISCUSSION IS NOT TO THE POINT BECAUSE OF YOUR THIS SWITCHING OVER.


Thanks.

r rajendran woraiyur trichy said...

It would have been better for senior people like Mr.Shankar to keep mum and should not have elaborated every time the background history for irrelevant comments passed on by the over smart people like SHRADHANJALI.
Also it is better not to discuss the issues arising out of pension second option as it is going to end forever today or tomorrow once it is settled/implemented.

SHANKAR said...

Referring to Sri r rajendran woraiyur trichy-
March 6, 2010 12:01 AM
You are right.
At the same time juniors should not get carried away by fresh remarks as that of Shradhanjali's and should not feel those as real facts. Hence this type of clarifications.Iron needs strokes again and again.

SHRADHANJALI said...

Good Morning to all. We know Mr.Rajendran & Shankar that the pension issue is soon going to be over. No need to elaborate. But, when you come to a blog for expressing your comments/when debate on a issue is on , you should always be open in your heart and mind and respect others opinion. I know, the discussion will not have any impact on the final wage negotiation.I think the comments are getting murkier & personal hence there is no point discussing the same. Taking leave from u all. Thanks

SHANKAR said...

Refer to Shradhanjali-March 6, 2010 8:11 AM
You are mistaken. Pension issue may get settled now. But it is not the end. It is only beginning. Battle is still a long way because of NPS with effect from April 2010. Majority of persons like me are almost out now and persons like you who still have left over service are required to continue the battle on behalf of seniors and retirees. Hence it is need of the hour to have healthy discussions and everybody should have clear knowledge about the subject matter. Our battle should be with IBA and not with ourselves or with unions. Our harsh opinion against unions is only to make HARD BARGAIN with IBA and not for the sake of blaming unions.
Blog is meant for getting ourselves abreast with the latest facts on day to day basis. It is open heart discussion. We senior persons expect more fruitful results from younger generation. You may note that there are more than 1500 comments in the blog about pension/BPS. Out of the above we are required to extract actual facts and fight with IBA. So, for heaven's sake do not leave the blog and go on contributing your views even if it is wrong. You will get correct information from one or the other. Because we all are one. Then only our fight will be fruitful. Following items are still pending for improvements for those retiring at later dates.
01.
Increasing Commutation amount from present 33 % to 40 %
02.
Neutralization of DA to the extent of 100 %
03.
One rank, one pension
04.
Release of pension without forfeiture similar to PF due to
Charge sheets / punishments etc.

With regards.

raju said...

Dear friends,
When the first option for pension was given, it was an idea of IBA/Govt to thrut it on bank employees.They wanted (though no openly said so) that all the then existing bank employees should opt for pension.SSo they made it th only alternative for new recruits.

Then they never said that it involved cost, and cost should be shared. Imagine ,if all employees would have opted for pension then?
What is the point of cost?

Now when they found that pension is beneficial in the changed circumstances,and employees,(only a part who did not opt earlier due to the condition put then regarding strike) seek another option, they suddenly come with cost.

Young employees, as well as those already opted for pension should understand this.
Foe anybody, there will be a senior and junior.Today's young recruits will also face similar situation and argument from future recruits on some other point. Hence , it is prudent for everyone o see that all are benefited.

A little sacrifice for sake of fellow members is what is needed.

Don't try to score points over one another based on ego and age.

Sanjay Bhatt said...

To All Friends,

Keep In Mind;

1)Leave the question about senior and junior.
2)All are our fellows and friends.
3)Juniors will also become senior.
4)Nobody has giving for others pension and Nobody will give for others pension.
Means past pension optees(1995) have no reason to believe that they will give their some funds for new pension optees.Because this time 2nd pension is also with 9BPS then additional pension cost is lightened.Then past pension optees aware for this 6.05% Whatever.But they should also to know that in last 2 BPS means 7th and 8th has also some % like 20 and 25% as an additional cost for pension.Then new pension optees were not a part of pension then also they have bear that cost,now turn of past pension optees to bear.
5)We should be give honor to old age fellows.

Then also We are not ready to understand then here I am declared that I am PF optee and I will not opt 2nd pension option and stay with my old option,I can't get from others rights money.

Please friends We are very matured persons.Now nobody can change little word for recent9th BPS and 2nd pension option due to 9 cheaters.So,keep in mind "Always between 2 fighting Cats Monkey has get profit.So try to understand requirement of time.

Don't wast your energy for wrong.

Regards.

Bank said...

Dear all
Please read today's ET

LIC Officer federation has issued an appeal to Public regarding present Salary structure of their Officers and this is a right step for generating Public support.

T J P said...

Our leeders don't need public support. They are above that.

They need money, money and only money be in the form of monthly subscription, levy or any other form, for their luxurious life !

Who cares for public or even staff members !

rahul said...

can any one ensure me that hike of 17.50 % is exclusive of pension cost ?

PM said...

Ref. Mr. Rahul Dt March 8th
As per UFBU Convener - 17.5% is exclusive of pension cost.Pension cost of pf optees. will be an additional 6.05% over 17.5%.

chandan said...

Referring rahul 8, 2010 6:48 PM:

UFBU CONVENER'S CLARIFICATION ON LOAD FACTOR:


Reply of Ch.Venkatachalam Saturday, 31 October, 2009 8:14 PM



17.5 % INCLUDES THE NORMAL COST OF PF GRATUITY AND PENSION.


4200 + 2100 CRORES BEING GIVEN BY BANKS FOR PENSION OPTION WILL BE OVER AND ABOVE 17.5%

Ch.Venkatachalam
AIBEA

"Surabhi" - our initiative to inculcate plant care habits among children. said...

don't waste our time and energy.

Parameswaran said...

Dear All,

It is realiably learnt that there will be a meeting with IBA on 15th of this month and everything will be finalised. Arrears will be disbursed during the next month. Leaders are making all efforts to get the maximum.

Parameswaran said...

Union Bank officers's association web site says that there will be a meeting with IBA chairman by Four officers organisation tomorrow.

chandan said...

Suresh Kumar says : " WAGE REVISION-IMPORTANT REVIEW AND CONCERN"
---------------------------------------------------------------------------------------

With reference to the Clerks, who shall be getting an allowances of Rs 1000/- per month for working on Computer, it has been termed as an allowance which shall be given alongwith some additional limited passing powers. WHY IS THIS SO????

The allowance so should be paid for working on Computers only and NOT for any passing power. In the past, the Clerk used to work on ledgers and now due to computerization the work load has increased and it is in favour of the bank. With a paltry amount, the potential work load shall be increased and even passing powers though limited shall pass the burden from the Officers to the Clerks who get a higher pay for doing the same work as their job role.

Thus Clerks should not be given any passing power but be treated as a computer allowance only. If additional power is given , then additional allowance be added toRs.1000/- at par with other computer operators. The UNION should take a careful note of this as once this Pandora box is opened in future all Clerks shall be doing Officers work and getting LOWER Clerk salary at their cost and benefit only to the Bank.

ALSO THIS SHOULD BE ADDED TO BASIC SALARY BUT THERE ARE STILL DOUBTS.

Another MOST IMPORTANT point to be noted is that the effective date of this allowance is from 01.05.2010 and so the clerks shall lose this amount as arrears of nearly Rs.1000 multiplied by 29 months overdue= RS. 29,000/- PER EMPLOYEE.

Again this loss is borne by employees.

Also another stagnation increment has been requested upon!!! Will IBA look into this fact at such a late and crucial juncture. The UNION should demand and ensure that Senior Clerks should get a good reasonable stagnation increment!!Are the UNIONS LISTENING.

Comrades, I request you through this forum to pass on the message to others and to your leadership, so they may act upon this fast and not be mere spectator

chandan said...

Gratuity ceiling raised to Rs 10L

Fri, Mar 5, 2010

The Cabinet on Thursday approved an amendment to the Gratuity Act to raise the ceiling from Rs 3.5 lakh to Rs 10 lakh. The Bill to amend the Act will now go to Parliament, a government official told FE.

--------------------------------------------------------------------------------------
AIBOC Version

Comrades, we have reached the present state of getting approval of the Cabinet through our continued and persistent followup with the concerned authorities. We hope that, the bill will be moved in the current budget session of the Parliament. We are following up the matter with the Govt. We shall advise the members of further developments later.

With greetings,

(G.D.NADAF)
GENERAL SECRETARY
----------------------------------------------------------------------------------------

"we have reached the present state of getting approval of the Cabinet through our continued and persistent followup with the concerned authorities"

Dear Mr Nadaf,

We are not spoon feeding babies. We know who has done what. Don't try to exhibit union's control on Cabinet of India.SHAME SHAME for 17.5% hike.

Thanks.

Neeraj said...

Whether there is any scope for betterment of deal in the proposed meeting on 15/03/2010 between 4 officers unions with the IBA.Can't the IBA and UFBU jointly make efforts to lift the bankers from the bottom of salary pyramid ?

MADAPPA said...

MR.NADAF CLAIMS VICTORY FOR THE ENHANCEMENT IN GRATUITY CEILING WHICH IS APPLICABLE TO ALL EMPLOYEES IN GENERAL. FIRST HE SHOULD GE THE SALARY AND PENSION ISSUES IN THE BANKS SETTLED AND KEEP THE HOUSE IN ORDER BEFORE CLAIMING VICTORY ABOUT SOMETHING ELSE WHERE HE HAS LITTLE ROLE TO PLAY.

LET US SEE WHAT HE CAN ACHIEVE TODAY I.E. 15-03-2010.

SAME IS EQUALLY APPLICABLE TO MR. VENKATA CHELA M

PM said...

Ref;Mr.Neeraj, 15th March.
Before anticipating betterment in deals, think about arriving to a settlement. The realities are different.
AIBOC has stated that, the proposed meeting of officers organizations with IBA on 15th March, 2010 is to arrive at amicable solutions on cost distribution etc
Unions have provided a list of residual issues to IBA to be discussed and finalised simultaneously with the wage settlement.
From 25th Feb 10 onwards AIBOC is stating that a draft settlement on pension issue is being prepared at IBA level, which will be provided to them for perusal, shortly.
Nothing has been materialized so far.Let Union/IBA arrive to a final settlement without dragging the talks indefinitely.

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