Friday, April 23, 2010

Bank Pay : 9th Bipartite likely to be signed on 27th April in Mumbai.


Bank unions and the Indian Banks' Association (IBA) are likely to ink the final settlement of the industry-level wage revision on April 27 in Mumbai. The wage revision for the banking industry is due from November 2007.
The decks have been cleared for the final settlement after a delegation of the United Forum of Bank Unions (UFBU), led by its convenor Mr C. H.Venkatachalam, met the Union Finance Minister, Mr Pranab Mukherjee, at North Block on Wednesday, sources privy to the developments said.
In November 2009, the UFBU and IBA had agreed for a 17.5 per cent increase in wages under the proposed ninth bipartite settlement, which would span five years until October 2012. It was also agreed to give both existing as well as certain retired employees another chance to opt for pension benefits.
As many as 7.75 lakh employees from 26 public sector, 12 private and eight foreign banks would benefit from the final wage settlement.
The annual wage bill for the public sector banks, including the State Bank of India Group, was Rs 27,500 crore for the year ended March 31, 2007. This ninth bipartite settlement would lead to an additional annual outgo of Rs 4,816 crore for the public sector banks and Rs 400 crore for private and foreign banks.
About 2.6 lakh existing (non SBI) employees are to get another chance to switch to pension from Provident Fund as a retirement benefit. Also, about 60,000 retired employees, who are PF optees, will now be given another chance to switch to pension benefits.
Public sector bank employees can currently avail themselves of only two retirement benefits — pension or provident fund and gratuity. In the eighth bipartite wage settlement, the bank unions had settled for 13.25 per cent hike.

Source : The Hindu Business Line. 

View the salary comparison with Central Govt. counterparts published in a Hindi Daily.

AIBOC issued its circular No. 50 on meeting with Hon'ble Finance Minister, Govt. of India. We are reproducing the same here for our readers.

CIRCULAR NO.50                                                                   22.04.2010
TO ALL AFFILIATES/MEMBERS:
MEETING WITH HON’BLE FINANCE MINISTER, GOVERNMENT OF INDIA

Members are aware that the date of effect of Pension to CPF Optees was not resolved at IBA level, hence, UFBU requested for intervention of Hon’ble Minister of Finance, Govt. of India.  Accordingly, leaders of UFBU met Hon’ble Finance Minister on 21.04.2010 at New Delhi and forcefully presented the views of the UFBU on the effective date of Pension to CPF optees, from 1st April 2008, as additional cost required for 2nd Option on Pension was assessed by the common Actuaries based on the details made available as on 31.03.2008. 

But the Hon’ble Finance Minister did not agree with the argument as IBA was of the view that, Pension has to be effective from the date of signing the final settlement on Pension. However, he
suggested that, effective date may be from the date of signing the MoU i.e. 27th November, 2009.

The UFBU will meet on 26th April, 2010 at Mumbai, to take a final view of the issue connected with pension, new pension scheme, outsourcing etc.

The IBA has called for a meeting with the UFBU on 27th April, 2010, at Mumbai, with a view to sign the final settlement on Pension and Salary revision.  We shall advise the further developments later.

With warm greetings,
Sd/-
(G.D. NADAF)
GENERAL SECRETARY

82 comments :

sukhi said...

mein sabhi pareshaan or frustrated bankers se appeal karta hoon ki aiboc ki silver juiblee celebrations par in leaders ke kapde f... do. unka balaat.... kar do. let us make these celebration historical as these leaders have achieved a historical settlement. with revolutionery greetings,

raamraam said...

hello friends,will filing of suit in hyderabad court prevent in signing of 9th bps on27/04/2010???????????????????

akhilesh said...

So far as I understand hearing is for the admission of case i.e. whether the case is fit for hearing or not.

shilpi said...

plz stop it by any means
lets the whole world know before we die

Jay Vijay said...

Only Way now in our hand to protest is
Give an opt out letter from your respective Unions before your arrears are paid so that the your Union in connivance with bank management cant deduct levy from your arrears directly.
Also give a copy to Bank management that we have opt out from unioun and put a special mention in the letter to Bank Management that so no levey should be deducted from arrears.

akhilesh said...

This to response Shilpi 6.16pm.Nither
YOU nor whole world is going to die after this settlement. Let us take things in a cool and professional way.

Pushkar said...

PPl who hav filed the petition are real heroes who have stand against injustice being done by IBA & union....only less ppl hav these guts....
I appreciate them..
PPl can see the Contents of petition on http://www.allbankingsolutions.com/Wage-revision-show-cause-notice-andhra-court.htm

Also Court Has specified that------
THE COURT FURTHER MADE THE FOLLOWING ORDER :

Post after ten (10) days.

Any settlement will be subject to further orders to be passed in the writ petition.

Counsel for petitioners is permitted to take out notices to respondents by Regd. Post with Ack. due, and file proof of service.

bass said...

AP High court order is very clear. Unless it passes further orders, any settlement is null and void. In the meantime, nobody need to celebrate ignorantly, instead of that try to know the facts of other employees wages in the state/ central govts. Your salary has been progressively reduced to 50% of their salary in the past 3 decades. Find out who is responsible for this. You...your leaders....IBA...or the Govt?

bass said...

Any settlement will be subject to further orders to be passed by the AP High court on or after 27.04.2010

Once the settlement signed means all the burning demands like implementation of 6th pay commn recommendations in Banks, maintain parity with Central govt officers as per Pillai committee since 1979 will go to cold storage for another 5 yrs.

bass said...

AP High court order is very clear. Unless it passes further orders, any settlement is null and void. In the meantime, nobody need to celebrate ignorantly, instead of that try to know the facts of other employees wages in the state/ central govts. Your salary has been progressively reduced to 50% of their salary in the past 3 decades. Find out who is responsible for this. You,your leaders,IBA or the Govt?

raamraam said...

friends,the AP DID NOT RESTRAIN IBA IN SIGNING BPS WITH UFBU ANY LEGAL EXPERTS CAN THROW OPEN LIGHT IN THIS ISSUE

shilpi said...

officer nam ka peon par control nahi

bass said...

The very purpose of filing a writ petition in AP High court is requesting the court to restrain the respondents i.e.IBA and all unions from making recovery of 30% share from the arrears payable on signing the settlement. On hearing the arguments of the petitioner, hon'ble court has issued show cause notice so as to enable it to take a decision for admission of the case. Also ordered that any settlement is subject to further orders to be passed on the above petition. In these circumstances, IBA/unions may not overlook the court orders.
In the meantime instead of raising doubts, sincere members should try to convince their leaders suitably instead of convinced by them.

Jay Vijay said...

This settlement is going to be historic esp people have filed cases and approached courts even before the settlement is signed.
Now if the settlement is signed and if banks recover 30% gap then all those banks & ufbu and goi will do aganinst the law of land.
Now if these people take law in hand then it can be equally reciprocated by employees. Imagine employees start taking law in hand.
Looks like this Govt will not complete its full term.
Any bet ?

Pushkar said...

check tth supreme court view regarding pension fund

http://www.allbankingsolutions.com/Wage-arrears-supreme-court-how-pension-to-be-paid.htm

seetha said...

dear friends
our major concern should be about the wages and not paying 30% of our arrears towards the betterment of our fraternity and we should also not forget that the fraternity which is now striving hard to meet the ends had striven hard to make our banks stronger, hence let them rise our wages accordingly and then everybody would be happy to pay the said arrears

akhilesh said...

Can any one guess fate of wage pact on 27th April 2010 in view of judicial process ?

SHANKAR said...

Referring to Pushkar-April 24, 2010 3:56 AM-
You may refer my view dated-April 23, 2010 3:49 PM on another blog-FM Agrees for cut of date for pension-27/11/2009-
The existing pension scheme is totally on sharing basis and the court writ pettition filed against IBA is on impractical terms.
If bank managements happen to pay pension without collecting back Matching PF contribution as pension corpus fund-then what happens?
Definitely the existing pension optees also will be forced to come out from the present pension scheme.
In 1990-95 Jeevandhara Pension plan of LIC was literally scrapped by amending the features of the pension scheme by making it totally useless by the then FM, Sri Manmohan Singh.Policy holders were forced to withdraw their invested amount with nominal interest rate and come out of the pension plan
Likewise, present pension optees will be allowed to withdraw their share in pension corpus fund with nominal interest,since the pension payment without sharing becomes totally unviable.
Before demanding something one should think about the viability of the scheme.
Banking industry should be a going concern and should provide perennial employment oppertunities to new generation youngsters.Industry is not for closure.Employees should be part of the bank.

guneet said...

AllBankingSolutions.com

YET ANOTHER EXAMPLE : HOW OUR SO CALLED SUPER HERO LEADERS WERE BEFOOLED BY IBA
(Based on the inputs contributed by Mr. K K Gulati)
Almost every banker in last few months have seen number of circulars by our union leaders wherein they have showered whole lot of praise on themselves for achieving a historical settlement. But one more example of "How they have been befooled by IBA" has come to our knowledge through one of readers. A reading of this will make you feel whether our union leaders are really capable of calculations or they go around hotels and enjoy their meals and sleep in the meetings.
Let us go through this example :
(A) WHAT IS THE RECOVERY AMOUNT FOR PENSION FUND AS PER IBA VERSION :
Total amount to be recovered for pension fund = Rs.1,800.00 Crore
(B) WHAT IS THE TOTAL BURDEN DUE TO INCREASE IN SALARIES AS PER IBA VERSION :
Total Amount of increase per year as on 1-11-07 : Rs.4816.00 Crore
( in other words total amount of increase per month : Rs.401.33 Crore)
Thus, all the bankers are required to pay the arrears for 4.485 (say 4½) months only to fully pay the gap of Rs.1800 crs agreed to be recovered from the existing employees.
(C ) WHAT IS ACTUALLY BEING PAID BY THE EXISTING EMPLOYEES :
With lot of negotiations and as a biggest gesture, IBA has agreed that all existing employees will pay 1.6 times of the New Salary as on November, 2007.
Now, question arises whether 1.6 times of the new salary as on November, 2007 is less than or equal to the 4½ months arrear?
Let anybody calculate his gross arrears as on November, 2007, and multiply the same by
4½ and they see what he is asked to contribute towards pension fund.
The CAT IS OUT of the BAG. This contribution ranges from 7.42 to 13.07 months salary for Scale I, II and III officers (it varies depending on what %age of HRA you are entitlede). It ranges from 5.75% to 8.92 months gross increase in salary for Scale IV and V officers. Thus, on an average, it appears officers are contributing almost double of the amount that was required as per above calculations to collect Rs.1,800 crores.
The detailed worksheet for gross salary increase and the % age in terms of the pension contribution required at 1.6 times is available at the link hereafter. CLICK HERE TO SEE THE DETAILED CALCULATIONS.
WE WOULD LIKE THE UNION LEADERS TO COME FORWARD AND GIVE THEIR VERSIONS AS TO HOW THESE THE FACTOR OF 1.6 TIMES WAS ARRIVED AT. IT APPEARS THEY HAVE SOLD THE INTERESTS OF THE MEMBERS.
We would like the comments of the readers, in case it is felt that the above calculations are not based on facts. Send such comments on allbankingsolutions@gmail.com

Om Shanti said...

Respected Shanker Ji,

I am reading this blog for the last 6 months and all of your comments are very mature and also correct. One can easily understand that you are very knowledgeable person. But I would like to bring it to your kind notice that your knowledge is actually demotivating as every time you have mentioned that gettinng 40% increase in banks is a dream and we can never achieve it even in any of settlements further to come. You have also commented on pension & other issues which are very much disappointing as we the bankers are living with hope that some day we will also be at par with the Govt. of India officers with our sincere determination and esteemed efforts of the bankers that is being shown in this blog.

Since you are very much intelligent and also have lot of experience, most humbly, may I request your goodself to kindly publish only those comments which could boost the morale of our society. I hope that you will write some positive blogs so that members are motivated.

With Regards

Pushkar said...

Referring to Om shanti April 24

You r very correct madam.
Shankar appears to br very gud at statistice,pros & cons of every thing but his comments are always demotivating.

--When everyone was saying that salary revision is bad.He commented against the stream.
--When everyone was saying that existing employee should nt contribute due to valid reasons.He commented in favour of contribution.
--When SBI ppl quit from association.He told that Those didnot participated in strikes & dharnas & hence cannot be counted
--When some ppl moved to courts against the decision of IBA & union to deduct arrear from salary.He told them foolish ppl.

He resembles a typical banking faternity...many of them sitting in higher position like in my office also...who hav spent their whole life in banks citisizing others.....


Regarding the comments shankar supreme court decsion for PEnsion
"The existing pension scheme is totally on sharing basis and the court writ pettition filed against IBA is on impractical terms.
"
This is where the flaw lies in banking sector where employees are asked to contribute to pension & ppl are making some movement to create a revolution by going aginst this decision"

Whatever the result be of court decision atleast those guys hav done some favour for existing employees who don't want to give their hard earned to money to mean cause of IBA & union..

Kindly see shankar ji how pension fund is managed in Central Govt.

"No separate contribution is payable additionally by the member for the Pension Scheme benefits. The new Pension Scheme, alike the old Employees' Family Pension Scheme, 1971 derives its financial resource by partial diversion from the Provident Fund contribution, the rate being 8.33% in lieu of 2.33% against the old ceased Family Pension Scheme-1971.The Central Government continues contributing at the rate of 1.16% as before, on wages at the end of the year. "

Om said...

well done!om shanti and pushkar ji,as the judicial process has since been started, we shall have to be positive,waiting the favourable decision of court benifitting the existing pf/pension optees to retain their 30% arrear.

AajTak said...

Dear Shankarji,

As per my knowledge LIC's Jeevandhara was Bussiness Scheme not for their Employees,Am I right?
Our bank pension schem is for their employees only.
Can you tell me recovering pension gap % will stopped or not?a per my poor knowledge it is continue process due to cheater leaders.
If this process has any end point than tell me Which BPS will the end point?
And LIC's Jeevandahra was scrapped due to mismanagement or not good economic environment that time,here mismanagement by banks pension fund management and We are punishing by recovery of 30% pension gap.Why you are not comparing with central govt. pension scheme?Is It not suitable foe example?Your every comments are very matured and full of knowledge,but when questions raised then please clarify.

SHANKAR said...

Referring to Pushkar-April 24, 2010 6:17 PM
Experience makes a man moving towards perfection.Good wish or good imaginations will not bring prosperity in life.But hard work, honesty, integrity and boldness will definitely teaches us whether to believe or not believe in imaginations or illusions.Who am I to object others if they are moving in imaginary world? I have no objection if anybody is expecting imagination to become reality.But I will never get carried away with such ideas.At the age of 59-60 years when one is subjected to hardest of the hard situations in life, he will never have any doubt in his mind.Every thing will be clear like sun light. I know very well that Central Government employees are paid salary from public money and in banks, salary to employees is paid out of the profit earned from public money.Even a single rupee belonging to public can be utilized by us for our salary.I am firm in my opinion.

SHANKAR said...

Correct my last sentence as under in my view-April 24, 2010 8:20 PM

Even a single rupee belonging to public can not be utilized by us for our salary.I am firm in my opinion.

SHANKAR said...

Referring to AajTak-April 24, 2010 8:09 PM
Jeevandhara pension scheme was scrapped as it became un viable and not due to mismanagement.
Service conditions of Central Government employees and bank employees are two uncomparable items which can not be compared.Time will reveal facts.History also reveals what happened earlier,if anybody has patience to go through.

SHANKAR said...

Referring to bass-April 23, 2010 9:41 PM
Where is the copy of the text of AP High court order?.Without the same everything is roumour

Om said...

shankar ji, as desired copy of show cause notice-ap court is @allbankingsolutions.com site

SHANKAR said...

Referring to Omshanthi-April 24, 2010 5:38 PM
If you start living in the practical world and not imagination-everything will be crystal clear to you.You need not search for knowledge.Have you heard how fools are cheated by blade companies?Very simple.Those people never thought of the practicability of promises made by blade companies. Can you name even one single honest business in our country which can fetch 50 to 60 % profit,by paying all taxes? If somebody tells you to pay Rs 100 and take Rs 200 after 2-3 months, I say that you are not matured enough to analyze reality.Instead if some body says to Pay Rs 100 and take Rs 110 after a year, you are a matured
one.My views are not imaginations. But reality.I am trying to be in the real world always.It is not to discourage anybody, but to guide them reality.
As regards expectations,I can foresee that with your present vision,you will move faster than others in any institution you work and achieve everything in your life leaving behind others provided you accept real things boldly.

vatsan said...

Dear Mr. Shankar,

I am one among the person who read your posts in this blog., and you are correctly pointing the difficulty of a banker (whether iba or ufbu) with available means for wage revision. and you also correctly pointing the difficulty of reaching a goal with respect to second option of pension.
you are correctly questioned about the text of writ petition. No rumour will stop the iba with ufbu to sign the settlement on 27th this month.

Om said...

shankar ji, hope u might have seen the ap court's show cause notice.we too believe in reality and deadly against the unjustice done to bank staff.this pension scheme is legally invalid. we ppl r to contribute 30% of salary in addition to 10% cpf(bank cont)what is the fun of this scheme.they had made us fool. i m pension optee and i understand there is no reason to stay pension optee.there will be huge loss to pension optee.many of the pension optee will switch to pf if 2nd option comes for reverse case also.

AajTak said...

Shankarji,

"Even a single rupee belonging to public can not be utilized by us for our salary.I am firm in my opinion."

So We should not take salary from bank and forgot pension also.Am I right?

Our salary comes from profit from public money deposit and lending(debtor-creditor relationship),PF is 10% part of salary and banks' PF contribution part also comes from profit only.We are getting salary for our service only,from Where It is come thats not our business.If We think like than Govt. employees and lose making bank's employees should not take salary.
I think one employee Who has old parent,wife and 2(minimum) children can not be so great like you.It is reality.
Salary is right of employee for his service and pension is social obligation of Govt. or Bank for their employees.If bank recovered every single rupee of sort fall in pension recovered from employees than What type of social obligation or duty?and reality never become imagination.

SHANKAR said...

Referring AajTak-April 24, 2010 9:16 PM
It seems you do not know how many banks were closed/merged in our country so far.Also you do not know how many US banks were closed due to recession recently.There also it was the responsibility of the respective governments to pay salary for the service rendered by employees.But what happened is reality.

MADAPPA said...

DEAR FRIENDS,

AS PER BLOG REPORT, AP HIGH COURT HAS ONLY ISSUED A SHOW CAUSE NOTICE FOR ADMISSION OF WRIT PETITION. IT IS VERY UNFORTUNATE THAT THE PETIONERS HAVE NO PATIENCE TO WAIT AT LEAST TILL THE WAGE/PENSION IS SIGNED. IT IS NOT NECESSARY THAT THE PETITION SHOULD BE FILED IN SUCH A HURRY BEFORE SIGNING OF THE PACT. IT CAN BE FILED AT ANY TIME AFTER SIGNING OF THE PACT. THE TIMING OF THE PETITION INDICATES IT TO BE ONLY A PUBLICITY STUNT.

IT HAS NO IMPACT ON THE SIGNING OF THE SALARY/PENSION PACT. MORE OVER THE PLEA IS NOT FOR STAY OF IMPLEMENTATION OF THE ACCORD BUT ONLY FOR A PARTIAL RELIEF OF NON-DEDUCTION OF MEMBERS CONTRIBUTION FOR PENSION FUND.

SINCE, THE PENSION OPTION IS ONLY OPTIONAL/VOLUNTARY BUT NOT COMPULSORY, THE CHANCES OF SUCCESS OF THE PETITION ARE POOR. SUCH OF THE PETIONERS WHO ARE NOT WILLING TO CONTRIBUTE TOWARDS PENSION FUND CAN STAY AWAY FROM OPTING FOR PENSION.

EVEN IF THE PETIONERS SUCCED IN THEIR EFFORTS, IT IS LIMITED FOR THEM ONLY. SINCE, THE UNIONS ARE NOT A PARTY TO THE PETITION, OTHER MEMBERS CANNOT GET RELIEF UNLESS THEY BECOME THE PARTIES.

IN ANY CASE IT IS A LONG DRAWN LEGAL BATTLE WHICH MAY GO UP TO SUPREME COURT. IN CASE OF RETIREES, ONLY THE LEGAL HEIRS CAN HOPE TO GET BACK THE DEDUCTED AMOUNT.

SHANKAR said...

Referring to Om-April 24, 2010 9:15 PM-
I think we are back to square one.From day one I have promptly asked few questioned to my union.
01)
In case everybody opted for pension in the first instance itself what IBA would have done? It had no authority to ask even a single pie from optees,except matching contribution of PF.
02)
Why unions are not questioning as to how managements spent nearly 1,75,000 lakhs of Rupees for writing bad loans? Why can't it be used for the welfare of employees?
03)
Why in 2008, pension issue was not settled once and for all by even calling for indefinite strike in March 2008? Why can't share amount be collected from the persons who wanted to switch over to pension?
I got no convincing answer from any of the leaders. That is reality.

SHANKAR said...

Referring to Madappa-April 24, 2010 9:35 PM
Please come to reality.Those are persons who do not want settlement to be signed.That is why it was filed in such a hurry.This could have been taken up after signing the settlement also.Signing the settlement is not an end. In every settlement a clause is inserted preventing unions from reopening any issue till next settlement. But it is only in paper and several errors got rectified later.

Om said...

shankar ji, if u agree with my view points that we pension optees r contributing about 40% towards pension fund and pf optees are no exception to that. therefore every bank staff is in loss and iba/govt is making us fool with the collabration of our great leaders.if i m right there will be vast scale switch over to pf option by all existing pension optees if 2nd option comes for reverse case also.

Om said...

shankar ji,i may be wrong but i m of firm view that settlement shall not be signed until removing all known anomolies.only errors are rectified are later on after sttlement.the pointed out anomolies are not errors but agreement between two parties

Swami said...

Dear Friends,
Today I met with the rarest Fate of attending NADAF'S Silver Jub Meeting at Chennai. He talked utter non-sense and told that this is a historic settlement. The rush was filled only Off bearers from all banks and member's participation was very poorl.
He asked for applause from the crowd towards signing the settlement on 27th. Leaders were divided. Consequent on the case, now they all were united and it really UFBU NOW.
In regard to the case, the case is not against wage revision settlement or One more option for pension. It is only against recovery from Arrears towards Deficit in Pension Corpus. Settlement will be signed on 27th.

chandan said...

RECENT DEVELOPMENT AT AP HIGH COURT CAN'T STOP SIGNING OF BPS ON 27TH.IT WILL BE SIGNED WITH AN ADDITIONAL SENTENCE ******* SUBJECT TO FINAL DECISION OF COURT ETC. HOWEVER ON PAYMENT I CAN'T SAY. IT MAY BE DELAYED DUE TO COURT.CONDITIONAL PAYMENTS MAY BE ALLOWED BY BANKS.

Thanks.

Swami said...

Dear Friends,
Everybody is taking about one more option for Pension. Now under the new settlement - earlier optees for pension - can they revert back to PF. Everybody cries for majority. Think of minority.
NADAF TOLD LIKE BRIDES/BRIDE GROOMS DO HAVE LAST MINUTE TOUCHUP BEFORE TAKING THEM TO HALL, HE WILL ALSO TRY SOME TOUCHUP TILL MIDNIGHT OF 26TH & DO GOOD. IF HE TALKING TO MARRIAGE - TOUCH UP IS RIGHT. HE IS TAKING US ALL TO "GILLETINE". WHERE TO HAVE TOUCH UP. HE HAS NICELY STOLEN 180 CRORES FOR SBI. HE DID NOT TALK EVEN A SINGLE WORD ON THAT. SMART GUY.

r rajendran woraiyur trichy said...

EVEN GOD CAME TO KNOW OF HOW WE ARE ALL MADE OF MADNESS - ALL BECAUSE OF MONEY THROUGH SETTLEMENT!

Dear Sh(ri)ankarji,
Well said, you are!
Having been experienced by any one by spending of his entire spring time of life towards his livelyhood, he spells something for the sake of welfare of the same community and inspite of digesting for future prosperity, others make comments of the same means people of banking sector still require patience to listen, thinking of logic behind it and application of sixth sense
for achievement of anything in their life.
Money is not the only tool to pave the way of our life style but it is also required.
Moreover, maturity alone will not make a man fit to understand things around him unless he is also matured.
We the employees of banking sector are having so many colours and communities because of education, age, experience, money and ego as seen in these blogs as under:

young MBA/MCA graduates vs matriculates!
youngers vs olders!
juniors vs seniors!
workmen vs officers!
managers vs executives!
pensioners vs pf optioners!
employees on service vs retirees!

UNITY among ourselves seems to be 'ZINDABAD' and then how could it be among the unions / associations of our industry?

EVEN GOD CAME TO KNOW OF HOW WE ARE ALL MADE OF MADNESS ALL BECAUSE OF MONEY THROUGH SETTLEMENT!

r rajendran woraiyur trichy said...

Finally, we brought our BANKING FAMILY to which everyone belongs to stand at the steps of court and it becomes":
COURT vs IBA/UFBU

Even the IBA/Finance Ministry could not do anything though the entire economy of our country depends on the profits of our industry and not on (hard workers) us and the person sitting in a court may or may not realise the facts and factuals of our industry and the result would be in the same line!
MAY BE THE MIRAGE, THE IMAGES OF OURS!

AajTak said...

If anybody has no value of money than he should be donate his arrears to other and I am ready to take it.Because I have value of money Which I earned by self labor.
I AM MADE FOR MONEY WHICH I HAVE EARNED BY SELF LABOR WITHOUT CORRUPTION.

##Labor=If you are getting less than you are done/doing.

Sanjay Bhatt said...


आखिर में आन्ध्र हाई कोर्ट में पिटीशन दाखिल कर किसी ने तो हिम्मत दिखाई|जो काम यूनियन का था वह दूसरे लोग कर रहे है|
यहाँ कितने दुखी आत्माए है ,जो वकीलों को कंसल्ट कर रहे थे,अब उनको गुरु ज्ञान हुआ की AP High Court में केस करने के बावजूद अगर IBA और UFBU तैयार होगे तो सेटलमेंट को साइन होने से कोई नही रोक पायेगा|कोर्ट का कोई भी फैसला किसी भी शर्तों के साथ आये, फिर भी कुछ नही बदलनेवाला है |क्योकि बदमाश यूनियन नेता राजकीय नेता से भी बड़े खिलाडी है |उन्होंने IBA के साथ मिलकर ऐसी भूमिका बनाई है की कोई केस कोर्ट में नही टिकेगा|सही मै तो हमारे लीडर ही पेंशन को अब चर्चा का मुद्दा बनके वेतन में हुए अन्याय से हमारा द्यान दूसरी और बटानेमे लगे है|इन चोरों को पहचानो और उनको सीधा करना है और अपना भविष्य सुरक्षित करना है तो यूनियन से रिजाईन कर दो ,लेवी मत दो | शंकर सर सही कह रहे है लेकिन मुझे लगता है की वह कुछ ज्यादा ही पेंशन प्वाइंट पे पसेसिव लगते है|
या तो सख्त तरीके से विरोध करो या ऐसे ही जीने की आदत डाललो|
बाकि हिम्मत है तो IBA और UFBU द्वारा रचाई माया जाल को तोड़ के बताओ|हम चाहे और न चाहे 30% एरियर्स का देना ही पडेगा|
जागो...मेरे दोस्तों जागो.....

नमस्कार|

MADAPPA said...

BANKMEN HAVE TO BE COOL AND SHOULD NOT HAVE TENSION ABOUT THE SIGNING OF WAGE/PENSION AGREEMENT.

SINCE, UNIONS AND IBA HAVE BOTH AGREED FOR SIGNING THE PACT ON 27-04-2010, NO AUTHORITY ON EARTH CAN STOP THEM FROM CONCLUDING THE PACT. COURTS WILL NEVER INTERFERE IN BILATERAL AGREEMENTS UNLESS A PARTY TO THE AGREEMTN REVOLTS ON FRAUD, COERSION ETC. BANKMEN CAN SIMPLY IGNORE THE WRIT PETITION FILED AT AP HIGH COURT. WHEN MAJORITY UNIONS AGREE FOR DEDUCTION OF 30%, COURTS NORMALLY WILL NOT INTERFERE IN THEIR WISDOM, SINCE UNIONS REPRESENT THE WILL OF THE WORKERS. THE PLEA THAT THE IBA HAS FOOLED, HOODWINKED THE UNIONS CANNOT STAND BEFORE JUDICIAL SCRUTINY UNLESS SOLID PROOF TO THAT EFFECT IS PLACED BEFORE THE COURT.

THE PENSION PACT IS NOT UPTO MARK. THE LEADERS HAVE SURRENDERED THE RIGHT OF THE UNIONS TO STRIKE. IF STRIKE ACTION WAS INITIATED THE IBA COULD HAVE COME TO TERMS. THIS IS ALL PAST AND BECOME HISTORY. WE SHOULD THINK WHAT WE HAVE TO ACHIEVE NEXT AND REMOVE THE STUMBING BLOCKS. CHANGE OF LEADERSHIP OF UNIONS IS AN URGENT NECESSITY AND MEMBERS HAVE TO THINK IN THAT DIRECTION.

ALSO MEMBERS SHOULD NOT CO-OPERATE WITH LEADERS BY REFUSING TO PAY LEVY, NOT PARTICIPATING IN MEETINGS, CELEBRATIONS, REFUSING TO PARTICIPATE IN POLITICAL STRIKES ETC.

akgoel said...

thanks. to all who went to court and also to them who are not caring the court.

akgoel said...

in 2001 FPA was rs. 429.00 pm . payable to officer employees. will any gentleman help to apprise out of it how much amount was ranking for pension/provident fund.
thanks.perhaps this amt. includes a portion of HRA. pl. apprise.

Pushkar said...

Chk this link about bank wage revision news in some newspaper..really interesting....
http://www.allbankingsolutions.com/bank1.JPG

ajitnaik said...

Request to Mr.K Balasubramanian/Mr.Shankar
What will be DA tate on Pension to retirees after 01-11-2007?
What will be the contribution of Pf optees retired between 01-11-2007 to 71-112009 for opting pension? Whether it is 156% of Bank's PF contribution or 1.6 times of revised Pay of November, 2007?

vatsan said...

Dear pushkarji,

I am ignorant to hindi script which published in the site which you have posted. i am really coping the site. kindly explain to me what is depicted in the newspaper as news
Pushkar said...
Chk this link about bank wage revision news in some newspaper..really interesting....
http://www.allbankingsolutions.com/bank1.JPG

chandan said...
This comment has been removed by the author.
MADAPPA said...

TO AVOID LEGAL COMPLICATIONS OF 30%DEDUCTION TOWARDS PENSION FUND PETION AT AP HIGH COURT; A PUBLICITY STUNT.

TO AVOID LEGAL COMPLICATONS OF 30% DEDUCTIONS TOWARDS PENSION FUND FROM ALL SERVING EMPLOYEES, THERE WAS A THINKING TO GIVE ARREARS FROM 01-05-2008 INSTEAD OF FROM 01-11-2007 AND ABONDONE THE DEDUCTION OF 30% DEDUCTION TOWARDS PENSION FUND. IBA AND UNIONS SHOULD BETTER PERSUE THIS COURSE, SINCE THERE WILL BE LITTLE ROOM FOR LITIGATION. THE PETITION FILED AT AP HIGH COURT FOR PUBLICITY STUNT GET AUTOMATICALLY DISMISSED.

jayaram said...

CHANDAN;25.04.2010 03.27PM

PLEASE CLARIFY WHETHER YOU WANT TO SAY- IT IS 156% factor UPTO 26.11.2009 AND 1.6 FACTOR FROM 27.11.2009.THE DATE OF MOU IS 27.11.2009 AND NOT 17.11.2009.- R JAYARAM

chandan said...

Referring SHANKAR:
---------------------------------------

1)SHANKAR 24, 2010 4:26 PM:

Likewise, present pension optees will be allowed to withdraw their share in pension corpus fund with nominal interest,since the pension payment without sharing becomes totally unviable.

2)SHANKAR 24, 2010 8:33 PM:

Service conditions of Central Government employees and bank employees are two uncomparable items which can not be compared.

3)SHANKAR 24, 2010 9:29 PM:

how many US banks were closed due to recession recently.

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

Sir,

1)Our are Public Sector units. Doesn't this statement look ridiculous? Smells of rationalisation on the modus operandi of the present pension option are coming from it.

2)Why is it incomparable in salary term? We both GOI/PSB are the citizen of the same country. Your this statement, endorsed Mr Nadaf 's recent statement on behalf of AIBOC.

3)Our conditions are quite different to USA and west.

Thanks.

chandan said...

Referring jayaram 25, 2010 4:35 PM;

Yes it is upto Dt:26/11/2009 156% factor and then(from MOU date) 1.6 factor.Sorry for the typing error.

Thanks.

chandan said...

Referring ajitnaik 25, 2010 2:19 PM:

156% factor upto Dt: 26/11/2009 and 1.6 factor from Dt:27/11/2009. DA rate will be as per actual date of retirement.It means someone has been retired in 2001 he has to get DA as per the DA received by a pension optee retired at that time.Pension actual payment for retired PF optees is from Dt:27/11/2009. A huge loss for retired PF optees retired ten years back, while his/her counter part pension optee already received a huge amount as pension and he/she has nothing to pay in corpus as per ninth BPS agreement.For a scale-II PF retire in 1998 the gap between he/she and a pension optee of that time, today stands around two million rupees if difference calculated in a recurring deposit term.What's a paradox for an indecision!

Thanks.

N.B: Earlier post April 25, 2010 3:27 PM removed and reposted due to correction of a typing error.

ajitnaik said...

Thanks Mr.Chandan. My question was for DA rate on pension for retirees after 01-11-2007. Is it 36.75% as on today for the latest index? In IBA sight you get the DA relief for retirees for differnt periods. With the revision of pay structure what will be DA relief for new pensioners?

Sanjay Bhatt said...
This comment has been removed by the author.
Sanjay Bhatt said...

1)OUR FUTURE IN SAFE HANDS OR NOT ?

2)CAN YOU CONSIDERED 9TH BPS AS HISTORICAL?

3)LAST TIME (ON 15/04/2010) BOMB BLAST OF PENSION 1.6 OF NOV'2007 SALARY FOR PENSION IS CONSIDERABLE OR NOT?

4)IN FEB-MARCH'2008 AND MARCH 2009 AND MARCH 2010 NO CALL FOR INDEFINITE STRIKE IS GOOD DECISION OF UNIONS/ASSOCIATIONS ?

5)ACCEPTING OF OUTSOURCING IS GOOD FOR BANK EMPLOYEES AND BANKS?

6)WHY ANY AGITATION ACTIONS OR INDEFINITE STRIKES NOT CALLED FROM UNIONS EVEN AFTER IBA NOT COOPERATE IN GOOD MANNERS?

7)WHAT IS THE MEANING OF NONTRANSPARENT UP TO LAST TIME ON EVERY POINTS?

8)CAN WE BELIEVED IN ANY HIDDEN AGENDA BETWEEN IBA AND UFBU? IF YES THAN WHAT NEED OF UNIONS?

9)30% PENSION GAP RECOVERY - CAN
WE CONSIDER IT AS "CHARITY BEGINS FROM HOME?" IS IT SOCIAL OBLIGATION OF BANK/GOI IN TRUE MANNER ?

10)IS IT A SETTLEMENT OR AUCTION OF BANKERS ?

11)IN WHOLE PROCESS OF 9TH BPS ANYBODY HAS FOUND LITTLE OF COLLECTIVE BARGAINING FROM UNION LEADERS?

12)CAN ANYBODY TELL ME WHAT IS OUR FUTURE? IS IT SAFE OR NOT?

13)CAN WE CONSIDER RECENT UFBU LEADERS AS IMPOTENCE LEADERS?

IF YOU HAVE ANSWERS OF ABOVE ALL QUESTIONS THAN DO WHAT IS THE BEST FOR YOUR FUTURE.

I WRITE SAME QUESTIONS AGAIN HERE FOR DISCUSSION, BECAUSE IT MAY BE CLIMAX TIME AND I DON'T WANT TO MEMBERS FORGOT WHAT IS MAIN REASONS OF FAILURE OF 9TH BPS.
I CAN'T CONSIDERED THESE ALL AS 9TH BPS.IT IS FIXED MATCH.TOTALLY INJUSTICE WITH BANK EMPLOYEES.

I DON'T KNOW MY ABOVE QUESTIONS AND ME ALSO ARE MATURES OR NOT BUT IT IS 100% TRUE IT IS THE VOICE OF TODAY BANKERS.
ANYBODY CAN CONSIDER ME LIKE PATIENT OF MENTAL HOSPITAL BUT THINK OVER ALL QUESTIONS IS COMPULSORY.
AT LEAST WE ALL CAN DO - DON'T PAY LEVY,CONTRIBUTION AND DON'T JOIN ANY STRIKE CALLS FROM UNION WITHOUT PERTAINING TO BANKERS' PROFIT.
UNIONS ARE MUST FOR BANK EMPLOYEES BUT NOW CHANGE OF CHEATER,IMPOTENCE LEADERS ARE ALSO MUST.

IT MAY BE POSSIBLE ORIGINAL DRAFT OF SETTLEMENT WILL BE COME WITH OTHER MORE HIDDEN BAD POINTS OF THIS SETTLEMENT.BE READY FOR IT.
-----------------------------------
WHAT IS THE FUTURE OF PETITION FILED IN AP HIGH COURT?

- CLEAN CHEAT TO IBA AND UFBU.

## BECAUSE IBA OFFICIALS AND UFBU LEADERS ARE MORE THAN POLITICAL LEADERS.THEY ARE GREAT GAMBLER OF LEGAL PROCEDURES.THAN WHO RESPECTED HAS CONSULT 3-4 ADVOCATES,MY REQUEST TO THEM DON'T WASTE YOUR TIME AND MONEY.THAN ALSO THEY WANT OK CARRY ON.ANY COMMENT PLEASE.
-----------------------------------

BANKING FRATERNITY WILL REMEMBER THIS 9TH BPS FOR IMPOTENCE LEADERS AND FAILURE OF UNIONISM.

AND REMEMBER ALL PAST BPS FOR LEADERS SACRIFICE AND BRAVE AND ACHIEVEMENT.

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

Referring ajitnaik 25, 2010 7:45 PM:

It is yet to be finalised.As per earlier settlement this time only those pensioners who retired on or after Dt: 27/11/2009 should be eligible for 36.75% on revised basic and those retired on or after Dt:01/11/2007 but before Dt:27/11/2009 will also get 36.75% but not on revised basic, but on a different formula by just adding DA 24.66% on basic of Eighth BPS to arrive on a new basic for pension,

Example:

Scale-II Basic pension Rs 11450/- + 24.66 % DA i.e Rs 2824/- =Revised basic pension Rs 14274/- .

Thanks.

chandan said...

Referring Sanjay Bhatt 25, 2010 9:32 PM:

Point wise reply:
---------------------------

1)Definitely not.

2)It is geographical.

3) Beggars(UFBU) are for begging.No power to arrive on consideration from authority.

4)Leaders became old and retired both physically and mentally.No will power for a such strike.

5)May be.

6)Already answered at No:4 above.

7)Old habits die hard.

8)UFBU is a double agent.

9)Paradox, created by double agent UFBU.

10)It is an auction of wife by her own husband.

11Already answered at No:4 above.

12)Heading for a dooms day.Refer No: 1 above.

Match fixing needs capacity.UFBU is an empty vessel as on date.No capacity for playing, what's about fixing !

Thanks.

jayaram said...

THE PENSION REGULATIONS 1995 IN PUBLIC SECTOR NATIOALISED BANKS WAS ADOPTED INTERMS OF SECTION 19(1) OF THE BANKING COMPANIES(ACQUISITION AND TRANSFER OF UNDERTAKING) ACT 1970.AS PER RULE 7(b)FOR THE EXISTING PENSION OPTEES BANKS HAD ALREADY TRASFERRED THE ACCUMULATED CONTRIBUTIONS OF THE BANKS PROVIDENT FUND AND INTEREST ACCRUED THEREON TO PENSION FUND.FURTHER INTERMS OF RULE 7(a) THE BANKS HAVE TO CONTRIBUTE AT THE RATE OF TEN PERCENT PER MONTH OF THE PAY OF THE EMPLOYEE.INTERMS OF RULE 11 THE ACTUARIAL INVESTIGATION OF THE FUND IS TO BE MADE AS ON 31 MARCH EVERY YEAR AND THE BANKS HAVE TO MAKE SUCH ADDDITIONAL ANNUAL CONTRIBUTIONS TO THE FUND AS MAY BE REQUIRED TO SECURE PAYMENT OF BENEFITS UNDER THESE REGULATIONS.THE ACCOUNTS OF THE PENSION FUND IS AUDITED IN ACCORDANCE WITH THE PROVISIONS OF SECTION 10 OF THE ACT.IN VIEW OF THE ABOVE IT APPEARS THE ALREADY PENSION OPTEES MAY NOT BE REQUIRED TO CONTRIBUTE 1.6 FACTOR.STILL IF THE DEMAND IS MADE BY IT IS LIKELY THAT IT MAY INVITE LEGAL BATTLE FROM ALREADY EXISTING PENSTION OPTEES OFCOURSE AFTER SIGNING THE SETTLEMENT.-R JAYARAM

rishikesh said...

This refers to 13 Questions -answers between Bhatt and chandan as of 25.04.10.

We should take the answers as facts sheet.

Nice questions and equally qualified answers.

Sanjay Bhatt said...

Respected Chandan Sir,

Thanks.

There are 13 questions,You answered 12 only.

You not answered no.13 Question is also answer of no.13 question.You feel shame.

As per our believe number 13 is unlucky,And its proved for us right,Answer of no.13 Question is reason of our unhappiness.

Now No One can change any thing is 100% sure.

We knows "Precaution is better than Cure"

"Without crying Mother also not feeding their little child."

Why same answers for many questions? We should be think over it.

Sir,If you have contact of leaders than aware them about What is realities everywhere.

Thanks Again.

Regards.

Hunter said...

friends,
any news from ufbu today meeting.ufbu will ready to sign settlement tomorrow?any chance to sign settlement tomorrow?

akhilesh said...

Mr. shankar will 9th bipartite be signed tomorrow?.

vatsan said...

HAPPY NEWS HAPPY NEWS HAPPY NEWS:
SETTLEMENT ON WAGE REVISION FOR BANK EMPLOYEES SLATED TO BE SIGNED ON 27TH APRIL, 2010
7.75 lacs of employees and officers of 46 banks in public sector, private sector and foreign banks to be benefitted by an annual wage increase of Rs. 5200 crores w.e.f. November, 2007 300,000 employees and officers and those who have retired after 1995 will get another option to refund their PF and join the DA linked pension scheme.
ALL INDIA BANK EMPLOYEES' ASSOCIATION
Central Office: PRABHAT NIVAS
Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001
Phone: 2535 1522, 6543 1566 & Fax: 2535 8853, 4500 2191
e mail ~ chv.aibea@gmail.com
WEBSITE: www.bankunionaibea.in
IT IS THE NEWS AVAILABLE IN AIBEA SITE. SO EVERYBODY SHOULD BE HAPPY ACCG TO THEM / FEEL FREE AS IT IS GOING THE ONE OF THE BEST EVER SETTLEMENT IN THE BANKING HISTORY.
DONOT WEEP WITH JOY BUT CRY LOUDLY

rishikesh said...

some new paid DHOLAKIYA arrived on this blog.

Om said...

EVERYONE WHO IS BANKER IS NO...............T HAPPY AT ALL WITH THIS KIND OF SETTLEMENT BEING SIGNED TOMMORROW.ALL WILL BE HAPPY IF IT IS NO............T SIGNED AND DELAYED FOR BETTER BARGAINING WITH IBA.PLEASE FORWARD THIS MESSAGE BY ONE AND ALL.
-BETTER LUCK IN THE DAYS TO COME

chandan said...

Referring Sanjay Bhatt 26, 2010 10:22 AM:

Dear Mr Sanjay,

I just missed that question. The answer is:

13) Oh sure. Is there any doubt?Then please take help of the answer at point no 10.

Thanks.

邦雄 said...

生活盡可低,志氣當高潔..................................................

akhilesh said...

Hello friends what happened are you all sleeping. Have you exhausted your feeling and comments?

satyabratpanda said...

congratulations everybody! Finally, the 9th Bipartite is signed at 4.30 pm today. Please wait for the details.

arjun said...

not a bad settlement as it was made out to be.congrats.

டி.பி.ஆர் said...

Dear Mr.Shankar,

I've read most of your stupid comments about the subject.

Will you please shut up!

Most of your comments are argumentative and idotic.

Don't preach unless you are an affected person.

SHANKAR said...

to டி.பி.ஆர் -May 6, 2010 11:04 AM
I do not need any certificates from any body.My institution has recognized my intelligence and accordingly entrusted with most responsible jobs to me.That is enough for me.Silly advises will go to my dustbin.

chandan said...

Referring டி.பி.ஆர் 6, 2010 11:04 AM:

Mr. டி.பி.ஆர்,

Please mind your language. I am in this blog for last nine months. Mr SHANKAR's each and every comment is matured enough and valuable. Rather the way you expressed your anguish is quite immature and rubbish.

Thanks.

sudhakar said...

Dear Sirs,
The people who are retired from 1.11.2007 to 27.4.2010 are loosers in the present settlement(PF optees). Now the GOI has enhanced the gratuity to Rs 10.00 lacs and let Mr Nadaf pursue the matter with Labour Ministry vigorously and get relief for the above. Mere writing letter to the ministry is not enough unless we lobby we may not get the relief. Please press the date of implementation as 1.1.2006 or at least 1.1.2007

SHANKAR said...

Referring to Chandan-May 6, 2010 10:27 PM
AND
Referring டி.பி.ஆர் 6, 2010 11:04 AM:
Dear Sri Chandan-You know that some blog writers think that they are commanders of the remaining blog writers.But who cares? We are not their subordinates or Chelas to obey them. No force in this world can stop us from expressing our views. Then why we should care for such writers?

C N Venugopalan said...
This comment has been removed by the author.

Contact Us

Viewers may share any information with the administrator in this email shyamali00@gmail.com
Any news, if approved, may be published in this blog under his /her name.

.................RECENT HEADLINES

Related Posts with Thumbnails

Blog Archive

Bookmark This Page

Bookmark and Share
All the information published in this webpage is submitted by users or free to download on the internet. I make no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this page and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. All the other pages you visit through the hyper links may have different privacy policies. If anybody feels that his/her data has been illegally put in this webpage, or if you are the rightful owner of any material and want it removed please email me at "shyamali00@gmail.com" and I will remove it immediately on demand. All the other standard disclaimers also apply.