Thursday, March 14, 2019

BSNL employees to get salary by 20th of this month

The representatives of the AUAB met Shri Anupam Shrivastava, CMD BSNL yesterday at 10:30 am. Ms.Sujata T. Ray, Director (HR) was also present. The AUAB demanded that the salary for the month of February, 2019, should be paid before the Holi festival. The CMD BSNL explained the present financial position of the Company briefly, and assured that payment of salary would be made by 20th March, 2019.

Friday, March 1, 2019

Consumer Price Index for Industrial Workers - January 2019

The All-India CPI-IW for January, 2019 increased by 6 points and pegged at 307 (three hundred and seven). On 1-month percentage change, it increased by (+) 1.99 per cent between December, 2018 and January, 2019 when compared with the increase of (+) 0.70 per cent for the corresponding months of last year.

Thursday, February 28, 2019

Download Central D.A. order wef 01.01.2019.

Dept. of Expenditure, Ministry of Finance released central D.A. order with effect from 01.01.2019.
"The undersigned is directed to refer to this Ministry's Office Memorandum No. 1/2/2018-E-II (B) dated 7" September, 2018 on the subject mentioned above and to say that the President is pleased to decide that the Dearness Allowance payable to Central Government employees shall be enhanced from the existing rate of 9% to 12% of the basic pay with effect from 1st January, 2019."
"The payment of arrears of Dearness Allowance (from January to March) shall not be made before the date of disbursement of salary of March, 2019"
Click here for the order

Monday, February 25, 2019

Bank bipartite hits roadblock

The 11th round of wage negotiations between United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA) has hit an impasse with two officers’ associations in the UFBU refusing to be a part of the deliberations, sources said.
The wage revision talks between the IBA and the UFBU had been under way since May 2017. The tenth round of negotiations, which concluded in May 2015 (for the period November 2012-17), had resulted in a 15% increase in wages.

When the UFBU sought to expedite a deal, the two officers’ associations — the All India Bank Officers’ Confederation and National Organisation of Bank Officers — decided not to participate in the talks saying the deal would be restricted only to those up to the rank of assistant general managers. The unions wanted the proposed wage pact to cover deputy general managers and general managers also, which was not acceptable to the IBA because those ranks comprised top executives that did not belong to any union.
Update on negotiation held on 21st February
Thursday, representatives of seven out of nine UFBU unions took part in the talks held in Mumbai. Since the two officers’ associations failed to send a representative for the talks, IBA restricted the discussions to workmen’s demands.
On wage revision for officers, the IBA said: “Whatever is finalised for the workmen unions, on the same basis, it will be extended and implemented for the officers also.”
If the two unions were not participating, talks would be restricted only to workmen unions, the IBA said.
The workmen unions said they would meet on March 1 to finalise their stand.
“We are negotiating for nearly 9.5 lakh workmen and officers. Officers above scale V are less than 1%. We hope to conclude the talks soon,” said C.H. Venkatachalam, general secretary, All India Bank Employees’ Association.

Minimum assured return under NPS? PFRDA working on it.

Pension fund regulator PFRDA is working on a minimum assured return scheme (MARS) for subscribers of the flagship social security programme -- National Pension System. 

NPS is a contributory retirement savings scheme and seeks to inculcate the habit of saving for old age among the citizens. 

NPS, having an asset under management (AUM) of Rs 2.91 lakh crore, had subscriber base of 1.21 at the end of January. 

The regulator is in the process of designing and developing MARS , according to a document of the Pension Fund Regulatory and Development Authority (PFRDA). 

Some aspects, including what kind of guarantee -- absolute return guarantees or relative rate of return guarantees (sector and benchmark-based) -- can be reasonably provided by the pension funds with recommendation of suitable proposals, need to be examined, said the expression of interest (EOI) floated by it. 

EOI has been invited from actuarial firms to design, develop and recommend MARS under the National Pension System that can be implemented under NPS architecture. 

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