Friday, October 9, 2009

Bank pay hike soon. Most probably 17.5% hike with pension option.

The public sector bank employees can now expect a pay hike soon. Finance ministry officials have said that the talks between the Indian bankers' Association, the employee unions and the government are in the last stage of finalization. Government officials have indicated a huge tab of Rs 9000 crore for this fiscal alone.

Around eight lakh public sector bank employees are due for this pay revision.

After a discussion of around six months, the rate of salary hike is almost decided. The finance ministry officials said that nineteen state-run banks were expected to receive a hike of 17.5%.the pay hike will be effective till October 2012, which implies that annual hike of 17.5 percent will be repeated every year till 2012.

For the current year alone, the decided payout is a massive Rs 4800 crore. However SBI and its subsidiaries are not entitled to this pay hike since they are governed by a different act.

Apart from a raise in the salary, bankers are also demanding a pension option. This will further push up the tab. The government has indicated that the pension burden would have to be shared by both the banks and the employees and this would be done by adjusting a certain portion of pay hike for pension payouts. Banks would have to maintain provisions worth Rs. 6000 crore to meet the obligation of 2.5 lakh employees.

IBA is in favour of employees picking up 30 percent of the tab that amounts to Rs 1200 crore. The remaining 70 percent will be paid by bank managements.

Source : Finance Ministry Official. & Rupee Times



50 comments :

Unknown said...

Hope bank employees can celebrate this diwali with much happiness. It would be better if the IBA and UFBU start negotiations for the next settlement due on 01-11-2012. Retired employees who have earlier opted for PF will get pension.

BALAN said...

AT LAST WITH THE MERCY OF THE FINANCE MINISTRY BANK,MEN ARE GOING TO GET 17.5% WAGE HIKE WITH PENSION OPTION WHICH IS THE BEST EVER SETTLEMENT SINCE FIRST BIPARTITE IF WE ARE NOT COMPARING THE PAY COMMISSION HIKES. THE BEST COURSE IS TO ACCEPT THE SAME AND PREPARE OUR SELVES TO BARGAIN BETTER WAY WELL BEFORE 2012 AND CLAIM PARITY ATLEAST DURING NEXT REVISON AND SEEK THE APPOINTMENT OF PAY COMMISSION ALONG WITH CENTRAL GOVTEMPLOYEES WEF 01JANUHARY 2016 AND PASS THE BURDEN TO THE GOVT/PAYCOMMISSION JUDGE.
UNLESS OTHERWISE THE UNIONS CHANGE THEIR OPINION REGARDING CONSOLIDATION BANK EMPLOYEES WILL REMAIN POORER AND ONLY ECONOMY OF SCALE IN THE LEVEL OF OPERATIONS WILL MAKE THE BANK EMPLOYEES TO GET GOOD WAGES NOT TO SPEAK OF THE PENSION LIABILITIES. UNION SHOULD GET THE PENSION UPDATION /100% NEUTRALISATION OF DA TO THE OLD EMPLOYEES ALSO AS THE PENSION REGULATIONS ARE SIMILAR TO GOVT PENSION THIS THEY HAVE TO TAKE AFTER THE NORMAL SETTLEMENT. THEY SHOULD NOT ALLOW THE IBA TO SLEEP CALMLY AS THEY ARE THE MAIN HURDLES AS THEY ARE NOT RECOMMENDING FOR BETTER WAGES TO THE MINISTRY.
CONGRATULATIONS TO UBFU FOR THEIR SERVICES TO THE PF OPTEES AND RETIRED PF OPTEES, UNIONS SHOULD CALL FOR OPEN DISCUSSION AMONG THE MEMBERS ON FINANCIAL REFORMS AND THEY SHOULD NOT IMPOSE A MINORITY VIEW ON THE EMPLOYEES IF THAT IS GOING TO BE ABIG HURDLE FOR BETTER SERVICE CONDITIONS . IF NECESSARY THEY CAN CONDUCT A SECRET BALLOT AND GO BY THE MAJORITY BVIEW AS YOUNGER GENERATIONS ARE GOING TO SHOULDER RESPONSIBILIES WITH MORE CHALLENGES AHEAD.

Unknown said...

Balan
Kinldy let me know how the load sharing will be implemented for vrs optees. I am telling they will be treated at par with the existing employees but my friend is having a different view. Something we have to forego to get pension. But he is not clear what he means by something. Could you please explain how they are going to implement the load sharing for vrs retirees.

Unknown said...

i want to know how much will b the hike in HRA?
and after this 17.5% hike in basic pay..what will b the overall hike in total pay in percentage ?

Kundan said...

Whats the expected hike for SBI employees

BALAN said...

LIKELY COMPONETS OF WAGE REVISION- ONLY MY ANALYSIS/EXPECTATIONS

SINCE OVER ALL LOAD IS 17.5% BASED ON 1 NOV 2007 EXPENDITURE,
AFTER MERGING AROUND 20% DA WITH BASIC ,15% INCREASE MAY BE ALLOWED. IF THAT IS THE CASE THE OFFICER S BASIC MAY BE AROUND 14000 AS AGAINST 10000 AT PRESENT. ( THIS IS ON THE MAXIMIM POSSIBLE SCENARIO ) . HRA UT THE MOST MAY BE 12% ON THE REVISED BASIC. CCA AND OTHER THINGS SAME PERCENTAGE AS ON THE EARLIER SETTLEMENT WITH THE REVISED BASIC. EVEN THIS MEASURES WILL BE MORE THAN 17.5% INCREASE. IF IBA STRICTLY MONITOR THE PERCENTAGE THE SCENARIO WILL BE REDUCED FIGURES FROM THE ABOVE ON STARTING BASIC. OTHERWISE THE PROBABLITY MAY BE LIKE ABOVE.
PENSION SHARING IS 1800 CRORES AMONG 2.5 LAKHS NEW OPTEES INCLUDING VRS PF OPTEES. PROBABLY A PORTION OF THE PF AS ONE TIME MEASURE OR A FIXED AMOUNT IN STAGES FOR THE EXISTING EMPLOYEES AND AS A LUMP SUM WITH THE RETURN OF THE CONRIBUTORY PF AND SB INTEREST THERE ON FOR THE RETIRED PF OPTEES. MAY BE THE FORMULA. THE FINAL PICTURE MAY BE CONFUSING AS EFFECTIVE DATE GUESSING IN RESPECT OF RETIRED PF OPTEES MAY BE DIFFICULT.THE AMOUNT SHOULD BE ADJUSTED FROM THE PENSION PAYABLE FROM THE DETERMINED DATE.

THIS ENTIRE SETTLEMENT SHOULD BE VIEWED AS A RELEIF MEASURE FOR 2.5 LAKHS PF OPTEES . WHO WILL GET PENSION LIKE THEIR COLLEAGUES.SINCE UNIONS WERE NOT TAKEN THIS MUCH SERIOUSLY IN THEIR EARLIER SETTLEMENT TALKS, IBA BLACKMAILED THEM WITH THEIR RIGID STAND ON PENSION AND FORCIBLY MADE THE LEADERS TO ACCEPT THIS MEAGRE WAGE REVISION. IF PAY COMMISSION HAS NOT MADE 40% HIKE WE MIGHT NOT BLAME EITHER THE GOVT OR IBA. EVERYTHING NOW HAPPENING BECAUSE OF THE HUGE INCREASE ALLOWED BY THE GOVT IN VTH AND VITH PAY COMMISSION.
BETTER LUCK DURING 2012 WAGE REVISION.

SINCE ALREADY NATIONALISED BANK OFFICERS ASSOCIATION WERE FORMED IRKING THE SBI DOMINATED AIBOC, A CLEVER GAME WAS PLAYED BY IBA INFORCING THIS INFERIOR PAY REVISION TO THE NATIONALISED BANK EMPLOYEES WHO ARE UNDER OBLIGATION TO GET PENSION TO THEIR LEFT OUT EMPLOYEES. SINCE SBI ALREADY ENJOYING THE PENSION THEY WILL WORK DIFFERENTLTLY THE COST BY INCLUDING THE NOTIONAL PENSION BURDEN NOW TEY ARE ALLOWING AND SIGN A DIFFERENT SUPEREIOR SETTLEMENT WHICH THE FINANCE MINISTRY INDIRECTLY HINTED. ALREADY SBI OFFICERS ARE ENJOYING 4 ADDITIONAL INCREMENTS IN THE STARTING SCALE ITSELF . THEIR SALARY STRUCTURE MAY FACTOR THESE WEIGHTAGES. THEY MAY TRY TO CREATE A SEPARATE SETTLEMENT. THE AIM OF IBA S DIVIDE AND RULE POLICY MAY BE SUCCEDED IF THEY GO IN FOR A SEPARATE SALARY STRUCTURE FOR SBI EMPLOYEES UNDER THE PRETEXT OF CAPACITY TO PAY.
WE HAVE TO WAIT AND WATCH THE DEVELOPMENTS. IF THERE IS SEPARATE SALARY STRUCTURE FOR SBI IT WILL MAKE THE OTHER BANKS TO THINK IN THE CONSOLIDATION ROUTE, GOVT ALSO CAN SAY IF THE SMALL BANKS ACCEPT FOR CONSOLIDATION LIKE SBI SO THAT IN THE COUNTRY THERE MAY BE FOUR BANKS LIKE SBI. IN THAT CASE SBI SALARY PACKAGE WILL BE INTRODUCED/ RATHER IT WILL SERVE AS AN INDUCEMENT TO CONSOLIDATE. THIS MAY BE GOVT WISHFUL THINKING AND MOVING THE COIN BY INSULATING SBI FROM THIS WAGE REVISION UNDER THE PRE TEXT THE SBI EMPLOYEES ARE COVERED UNDER SBI ACT.
ALL INCLUDING SBI EMPLOYEES CAN WAIT AND WATCH THE GAME OF THE MINISTRYOF FINANCE /IBA/ UNIONS / ASSOCITIONS AND LET US SEE WHO IS RIGHT OR WRONG AND IN THE ULTIMATE A MILLION OF BANKMEN INCLUDING THE RETIRED ARE GETTING REAL WAGE REVISION LIKETHEIR GOVT COUNTERPARTS OR NOT. ONLY TIME WILL TELL.

K BALASUBRAMANIAN RETIRED SENIOR MANAGER VRS PENSION OPTEE 2001 SCHEME INDIAN BANK

Syed said...

Is this the best settlement??
The earlier bank settlements were for periods of three years, after which a new wage negotiation would be due. Its only in the last two settlements that the period has been increased to five years.
Further, the expenditure of MArch 2007 is considered for the settlement of November 2007 to calculate a hike of 17.5%. In all fairness the expenditure figures of September 2007 should be considered. ...

Unknown said...

will not S.B.I get this 17.5% hike?if not,what would be their pay hike?????????will they get a differnt pays hike with other bank employees at this same time??

Unknown said...

THE NEWS RELATING TO THE POSSIBLE PAY HIKE OF BANK EMPLOYEES IS A SATISFACTION TO THE BANK EMPLOYEES.THOUGH DIFFERENT OPINION MAY PUT FORWARD CITING EXAMPLES OF INCREASE IN PAY STRUCTURE OF GOVERNMENT EMPLOYEES',IT CANNOT BE IGNORED THAT INCREASE IN GOVT. PAY STRUCTURE IS A POLITICAL STUNT AND A GIFT OF ELECTION ISSUE WHICH BANK EMPLOYEES LOST THE BUS-AGAIN DUE TO POLITICAL SITUATION.BETTER LATE THAN NEVER.AT THIS PRESENT STAGE,IT IS VERY DIFFICULT FOR THE BANK E3MPLOYEES TO FIGHT.RETIREMENT OF EMPLOYEES IS MASSIVE,WHILE RECRUITMENT IS MEAGRE.PRESENTLY THERE ARE VERY FEW POLITICAL LEADERS IN THE LOKSABHA,TO SPEAK ON BEHALF OF THE BANK EMPLOYEES AND MINISTRY IS WELL AWARE OF THE SITUATION.THE NEWS IS SILENT ABOUT THE CUT OFF DATE OF RETIRED EMPLOYEES.CAN ANY ONE GIVE AN IDEA ABOUT IT?


SANJAY BHATTACHARYYA,
RETIRED MANAGER , PUNJAB NATIONAL BANK.

Unknown said...

continued from my last comment about the cut off date
_______________________
I WANT TO KNOW ABOUT THE CUT OFF DATE OF 2ND OPTION OF PENSION FOR RETIRED BANK EMPLOYEES?CAN ANY ONE ENLIGHT?

SANJAY BHATTACHARYYA,
RETIRED MANAGER,
PUNJAB NATIONAL BANK

Kundan said...

out, this wage settlements seems to be for and by (re)tired employyes only. Will anyone come forward for the young generation employees, who r now feeling cheated by the present leadership.

Unknown said...

second option of pension is for all retired employees including vrs retirees. The cut off date may be 1996. if any body is having different opinion please inform every body.

r rajendran trichy said...

Congratulations and these greetings should be presented only to the Finance Ministry, Govt of India as they are the persons who won the game of chance in the Final if not Bankers' Simma Soppanam IBA. Anyhow, Best of Luck to UFBU for winning atleast in the next settlement if not now to safe-guard the interest of Bankmen (present and post retirees) for meeting out the minimum requirement of livelyhood. Thanks a lot to God for having gifted the life and hope to all the existing retirees of Banks.

rajendran r pnb

Unknown said...

BALAN sir u told if the HRA is raised to 30%,the officers would get a hike of 60% in overall salary..
and that it couldnt b raised,how much overall hike can we expect?

prem said...

My heartfelt congratulations to the leadership of UFBU which acheived among others one more pension option to all the retirees.People like me who have opted for vrs with no pension facility will feel this as a boon . May be this is an eyesore to somebody. My appeal to younger generation is, not to be harsh to their senior members with their comments.Pl do not forget their services to Banking Industry at a time when there no ACs and computers and many facilities and had worked very hard against many odds . Pl don't forget your own kith and kin also are there among them.

Kundan said...

Agreed Prem Sir that there were no ACs and other amenities, but the fact remained that at that time too you were one of the highest paid and are eating among our this even after going out of system. When we are trying to get some parity from other sectors, your demands have increased the disparities.

prem said...

Kundan sir, it seems you are questioning the basics i.e. pension concept. Its one of the Govt 's assurance and a constitutional right to be looked after , after working in any organization. The pain you expressed that we are eating yours is some thing ridiculous. The system to protect the previous employees can not be questioned.I hope you will agree with me if not now immediately, atleast after you complete your service in the present job.

chandan said...

The game of 9th BPS is likely to be over very soon with a hike of 17.5 to 18.5 or something like that for nationalised bank employees & 23 to 24 for SBI employees(Not SBI group) as 2nd option for pension(Load 6% around) is a subject for nationalised banks not for SBI.17% or 18% hike in wage, definitely a hike which is comparatively 5% to 7% higher than previous BPS. But at the same time it tarnished the image of bank employees in society in count of pay-packages and reduced them to one of the lowest paid category among white color jobs in the country.The lack of proper vision among top brass of union leaders are in no doubt, responsible for this sorry feature. At the last it can say,'Once the unions that brought bank jobs to a mountain pick(1970 & onwards)today land it on a rubble'.

Swami said...

The Govt has provided 35% hike. 17.5% under wage Rs.4812.50 crores and 17.5% Rs.4800 crores under Pension. Only we have separated under 2 heads otherwise we will get more than Central Govt. Employees. Only SBI leaders are standing in the middle not to get the settlement achieved with 17.5% wage hike. If IBA did not meet, we go to STRIKE. If UFBU did not meet What to Do ? God Save Bank Employees ?

Swami said...

I had seen Revised Wage Chart circulated by UCO bank, Syndicate Bank and Canara Bank employees. Is each bank entering individual bankwise settlement ? If any comrade see any chart please publish ? Till UFBU meet, atleast let us enjoy VARIOUS CHARTS. Back to Pavilion Happy Monday.

BALAN said...

dear all,

I am giving below the likely pay scales based on the overall load of 17.5% aprt from pension option. SBI employees who is already getting pension ads an additional benefit will stand to gain much.ESTIMATES BASED ON THE NEWS ITEM THAT THE FINANCE MI NISTRY AGREES FOR 17.5% WAGE HIKE WITH PENSION OPTION TO BANK EMPLOYEES
OFFICERS RUNNING SCALE PROJECTION

14000-700(6)-18200-750(3)-20450-800(12)-30050-900(9)-38150-1000(6)-44150-1300-45450-1400-46850.

Pay scales at 2836 index level. (AS AGREED BETWEEN UFBU AND IBA IN EARLIER TALKS) Added 12.5% to the merged old basic and DA thereon
DA for every 4 point rise in CPI 0.14% ( based on one percent for every 28 point rise )

154 slabs of 0.14% based on August 09 DA 21.56%

HRA 12% Assumed no minimum no maximum

CCA 4% Max 700
BASIC DA HRA CCA
14000 3018 1680 560
10000 5238 850 400
NET INCREASE 2770(16.8% increase )
150% CAPITAL COST ON HRA LEASE FURNITURE ETC NOT TAKEN INTO ACCOUNT
CLERKS RUNNING SCALE PROJECTION
6200-300(3)-7100-450(2)-8000-650(5)-11250-700(3)-13350-800(4)-16550-1400-17950-800-18750

Pay scales at 2836 index level. Added 12.5% to the merged old basic and DA thereon
DA for every 4 point rise in CPI 0.14% ( based on one percent for every 28 point rise )
154 slabs of 0.14% based on August 09 DA 21.56%
HRA 12% Assumed no minimum no maximum
CCA 4% Min 250 Max 450
BASIC DA HRA CCA
6200 1337 744 250 8531
4410 2310 377 175 7272
NET INCREASE 1259(17.3%INCREASE)
PQA 200,400 FOR GRADUATION
200,400,600 PLUS CAIIB PART I
200,400,600,800,1000 CAIIB PART II

FPA 800 EQUAL TO THE LAST STAGE OF THE INCREMENT
STAGNATION INCREMENTS 800 EACH
AS STAGE GOES UP MONETARY BENEFIT IN ABSOLUTE TERMS GOES UP


COMPARABLE GOVT OFFICERS PAY 15600+ GRADE PAY 5400+DA 27%+HRA30%TOTAL INCLUDING TRANSPORT ALLOWANCE ETC 33000 ENTRY LEVEL SALARY DIFFERENCE OF 14000 WHICH IS EQUAL TO 70% . ONLY GOD ALMIGHTY CAN GO INTO THE MINDS OF GOVT BOSSES TO GIVE PARITY WITH VITH PAY COMMISSION OR UNION LEADERS SHOULD COOPEARTE WITH THE GOVT IN GETTING THE BANKING REFORMS GO AHEAD OPPOSING ONLY WHERE IT WILL AFFECT THE COMMON MAN. WE ARE NOT THE CHAMPIONS OF COMMON MAN AS CENTRAL GOVT AND SELECTED POLITICIANS THEMSELVES WILL NOT ALLOW MORE REFORMS. UNION LEADERS ARE RICH ENOUGH. MAJORITY OF THE EMPLOYEES ARE NOT. INSTEAD OF MARCHING TO PARLIAMENT FOR OPPOSING REFORMS FOR THE SOLE PURPOSE OF RETAINING THE LOST POLITICAL GROUND LET THEM COOPERATE WITH THE GOVT AND IMPROVE THE LIVING CONDITIONS OF THE EMPLOYEES AS A TYPICAL TRADE UNION

Unknown said...

if indeed the deal has been stuck by the iba and UFBU at 17.5% it is very very unfortunate and disgusting, our public sector bank is already facing problem so far as quality of human resource is concerned. This deal/agreement will also reflect that for the shake of getting pension for the lesser number of people, our old incompetent leaders are playing with the future of public sector banking industries.

Unknown said...

Bala
I took VRS after completing 24 years and 9 months from canara bank. I keep my employer's contribution PF still with the bank. Please inform me how much i will get as commutation and pension. My basic salary at the time of retirement is 22280/- (max in the scale III). I would not have any increment even if continue in service. Please inform me the procedure for calculating the commutation value.

BALAN said...

HOW TO ACHIEVE IMPROVED WAGES SO AS TO AVOID FRUSTRATION
Now IBA has made the offer clear at its meeting on 24sept 09 by saying that talks are not helping to resolve the issue. It appears that there is a difference of opinion in the various segments of UFBU pulling in opposite directions which IBA knows very well . That may be one of the reason for its hard bargaining posture. Meeting of finance ministry officials and other important political leaders also not yielding desired result. Since Govt is very much interested in getting the world bank loan of 3 billion dollars to strengthen the capital adequacy of banks, it is absolutely necessary for them to maintain the status quo. Since SBI is not involved in pension option load they are demanding special treatment. To add fuel to the fire IBA is saying that NPS wef 01april2010 is applicable to NEW SBI employees also.Hence solution to the wage revision is not in sight in the immediate future unless and otherwise they agree to the terms of offer proposed by IBA.

On the other hand the finance ministry has given its in principle nod for merger of State bank of Indore with SBI by stating that no more merger of subsidiaries. That comment may be momentary till they suggest the next merger.
Also when the ministry discussed the public issue proposal on 12 oct 2009 for the lone united bank of India which is yet to come out with the maiden issue , ministry official has informed that more public issues for other banks need not be taken as we are taking up the consolidation process. Hence agenda of FINANCEMINISTRY/FM/PM/WORLD BANK is very clear. Consolidation in banking industry.

There are only four general insurance companies new India, national ,oriental and united india insurance -GOVT CONTROLLED
There are only THREE BIG OIL marketing corporations IOC, BPCL, HPCL
ONLY TWO TELECOM COMPANIES BSNL, MTNL
Where is the need for 20 nationalised banks of various sizes
SBI is giving success story and internationally recognized because of its size , total assets value etc.
So there should be positive thinking from the bank employees side in the right direction if it is going to help financially as more wages to the employees, more focused attention to the rural needs etc. As long as the political system of governance is there worry about capitalism and neglect of rural customers will never happen because banks funds can very well serve for catching votes by suitably naming the scheme and or manipulating various credit schemes.
Opposing the consolidation process for the sake of opposition should ruin not only the employees but also the industry.
The economy of scale achieved by SBI can be achieved by other banks also.
This is the most effective steps to convince GOVT/IBA to get more wages with full pension option without cost sharing. Pension up dation to all including the retired employees etc etc.Members may recollect that our former FM mr. P Chidambaram gone out of the away when he announced that the benefits that areavailable to SBI will be automatically made available to State bank fo indore if they agree for merger. Who is going to bell the cat to save the bank employees from the pathetic wage revision.
Anticipating a pension similar to the govt now I AM SUFFERING FROM A MEAGRE PENSION without up dation and without 100% neutralization because of the failure of the unions / associations in not taking up the matter at the appropriate time.

Unknown said...

What happened. It is so silent. Any tug off war is going between unions. Is their any positive sign for signing the settlement. Please inform in the interest of everybody if any developments are there in the settlement process.

mukesh garg said...

On implementation of sixth pay commission report bank employees/officers are being paid half the salary of their counterpart employed in state govt./central govt. offices. One more thing most of the bank officers are on stagnation in their respective cadre and are not entitled any increment except one or two stagnation increment once in three year while state/central employees/officer are entitled annual increment every year after their reaching on stagnation. Due to this anomaly the bank officers/employees salary will be reduced to 1/3rd from 1/2half in the coming time. I think bankers should demand and be given at least central scales. Otherwise in future no banker will suggest to their children to join the banking service as it will become the least paid service in the coming time.

mukesh garg said...

On implementation of sixth pay commission report bank employees/officers are being paid half the salary of their counterpart employed in state govt./central govt. offices. One more thing most of the bank officers are on stagnation in their respective cadre and are not entitled any increment except one or two stagnation increment once in three year while state/central employees/officer are entitled annual increment every year after their reaching on stagnation. Due to this anomaly the bank officers/employees salary will be reduced to 1/3rd from 1/2half in the coming time. I think bankers should demand and be given at least central scales. Otherwise in future no banker will suggest to their children to join the banking service as it will become the least paid service in the coming time.

Unknown said...

I TOOK VRS IN2001 UNDER THE SCHEME AFTER 19 YEARS OF SERVICE WITH PF OPTION. WETHER I AM ELEGIBLE FOR PENSION OPTION AND HOW MUCH I AM GETTING.

naresh said...

under vrs you should have qualifying 20 years of continued service, only then you are eligible for pension.

Unknown said...

why my comment did not appear

Unknown said...

Dear Sir,
The implimentation of 6th pay to NITs have hit Lecturers very badly. We have to wait for 9 yrs in PB3 before reaching PB4. This by any standard too long and simply kills our career. We are about 23 lecturers with Ph.d and many with post doctoral experience joined NITK Surathkal after 01-01-09 with great hope. but now we realise that our decision was wrong and have no option but look for better avenues. Therefore, we have given a representation to MHRD to reduce the promotion period from PB3 to PB4 to 3 yrs for lecturers with Ph.D. However, it may be noted that directly recruited APs along with us, who have 3 yrs of experience at the time of joining but same qualifications like us (Ph.D)will be put in PB4. This is an anomaly.(many of us though have qualifications were not selected for AP due to various reasons like no vacancy etc).We feel that Unless the lecturers with Ph.D are given better package, it is difficult for all NITs to keep them or recruit new with higher qualification and NITs standard will deteriorate. Therefore it is our request to all concerned that either NITs be given flexible faculty structure or make the promotion period only 3 yrs in PB3 for those with Ph.D instead of present 9 yrs.

prem said...

UFBU PROBABLY OF THE OPINION TO GIVE A STRIKE CALL BEFORE IT FINALISE THE TALKS WITH IBA.THE PAST EXPERIENCE WHEN STRIKE CALLS ARE GIVEN IS NOT FADED AWAY AND VERY MUCH IN MEMORY.WITH THE CARE=A=PIN-ATTITUDE OF THE IBA,UFBU IS PLACED ON A STICKY GROUND THE ONLY AVAILABLE EXIT ROUTE WITH MINIMUM DAMAGES IS TO ACCEPT IT FOR THE TIME BEING AND NEXT BPS TALKS WHICH IS FAST APPROACHING CAN PLAN WELL IN ADVANCE AND DEMAND FOR SUITABLE PACKAGE.THE MORE THE DELAY ,THE MORE THE LOSS TO BANK EMPLOYEES.

fanoosh said...

When Bank employees took part in two strike on 6th and 7th August on the ground that the offer was reduced from 17.5% to 13%, Media reported that IBA revised the offer back to 17.5% just a few hours before going into strike. If this is true, and now you are agreeable to 17.5, so why that strike?

Unknown said...

What is going on. Every where pin drop silence. Please inform if any body knows any information in the interest of all. No updation in any of the union sites.

Unknown said...

What is going on.No news. No developments. All are simply keeping quite even after two years from the due date of the settlement. Please step down from the top post if you are not capable of executing the things in time.

Unknown said...

leaders--------diwali has gone, no news of increase. will they wait for next holi/ diwali. or a few meetings in outside india. and get more levy from employees

Unknown said...

Balan Sir,

Why silent every where. I do not understand many things in this. MOU was signed between UFBU and IBA during February 2008 to settle the issues within 3 months but even after 18 months nothing is happening. Why it is so. Please update with the latest developments in the interest of all.

Unknown said...

can anybody please tell,what will be the position of RRBs on this pay hike. why this pay hike is not circulated till now?

gita said...

will 2001 vrs retirees pf optees get another option for pension.

Unknown said...

VRS optees from 1996 onwards will get one more option for pension.

gita said...

But according to Mr Sanjay " .THE NEWS IS SILENT ABOUT THE CUT OFF DATE OF RETIRED EMPLOYEES"

Unknown said...

I am informed that they can not explicitly put the cut off date. But certainly all the vrs optees will get one more option for pension.

naresh said...

it is already made clear that only those p.f optees will be allowed another pension option who had completed 20 years of qualified service continuously and had sought their retirement themselves and not through the vrs announced by the bank where a big chunk of money was offered to the said employees in advance in lieu of their pending service. Further it may be made clear only after the detailed settlement announcement.

gita said...

Mr parameswaran, did u read the latest paycommissionupdates.
dated 22nd october

gita said...

Mr naresh, you mean that all employees (except vrs pf optees) will get another option for pension

eyunny said...

mr. naresh,
pl. clarify resigned employees with more than 20 years of service is eligible for second pension option

Unknown said...

It is crystal clear that vrs 2000 pf optees certainly get pension option. doubt only about arrears
sarma

Unknown said...

sri Balan,
I took vrs during 2001 as scale i officer with 23 years of service. my dob is 3.10.1952. my basic pay at the time of retirement is Rs. 13560/- please calculate my likely pension and commutation of pension amount.
sarma

Sam... said...

Hi Balan,

Can you please give me some idea about, how much a scale II officer may receive in hand in a city like Mumbai. If i go for Leased accommodation, then, what would be my net salary.

This would be of great help.

Thanks.

ravi kant said...

GOT VERY VALUABLE INFORMATION.VISIT WEBSITE ALSO
http://www.employeesforum.yolasite.com/

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