PAY COMMISSION: Bank wage revision update : Next meeting in the first week of January.

Monday, December 21, 2009

Bank wage revision update : Next meeting in the first week of January.

It is reported that the IBA has constituted a Small Committee of 5 members,(including 2 from the Confederation and one each from the other Officers Organizations) which will go into the nitty gritty of all the details connected with the construction of scales, apportionment of the cost on various headings including the superannuation benefits etc., so that it can meet as frequently as required and keep the working ready for the Negotiating Team for finalisation of the settlement.

It is further reported that next round of discussions with IBA is likely to be held in the first week of January 2010 on a date mutually convenient to all concerned. The Small Committee will meet shortly and workout the modalities for the purpose of finalizing their proposals for the consideration of the Negotiating Team.

12 comments :

Unknown said...: How much more money of members they will spend on distributing Peanuts.; December 21, 2009 at 2:23 PM
BALAN said...: BECAME FRUSTRATED AND BECAME LEAST INTERESTED. ANYWAY IBA GOVERNMENT COMBINE WON THE BATTLE BY FORCING AN INFERIOR SETTLEMENT WHEN COMPARED TO THE PARITY /RELATIVITY THEORY. THEY WILL PAY THE PRICE IN THE YEARS TO COME WITH NO RECTIFICATION POSSIBLE. WRITING IS ON THE WALL WITH MUCH MORE ATTRITION RATES IN FUTURE AND WITH GREAT HANDICAP TO ATTRACT YOUNG TALENTS.

LONG LIVE IBA/GOVERNMENT COMBINE LET THEM TAKE PRIDE AND CREDIT

K BALASUBRAMANIAN; December 21, 2009 at 6:29 PM
chandan said...: Completely agree with BALAN Sir December 21, 2009 6:29 PM. My text to AIBEA, BEFI & in many internet blogs etc here reproduced again to justify our feelings.

"Bank employees wage increase 17.5% pushed the attraction of a bank job far behind than that of a central government job, while compairing stress & strain involved between these two. Definitely unemployed will join in bank for employment, but not brains as it used to be happened in the days of Eighties & Nineties.One should observe that the so called wage hike every five years in banks have been quite minimal during the past decade or so whereas in central govt. there has been a quantum jump this time. As matters stand today the pay package in central govt. is quite high when compared with similar posts in banks. So naturally people who have other choices in hand will not join banks any more. And one should know that in banks now a days people have to toil hard even beyond ofice hours, that too being loaded with heavy risks all the time. In such a condition the present pay package wil not attract talents into banks."; December 21, 2009 at 7:42 PM
Unknown said...: dear balan,
the IBA-GOVT.combine may luxuriate in
their victory over bankmen's settlement now.But,such an euphoria
will soon prove to be transitory!
The day is not far off when they will be baffled to realise that it was only a Pyrrhic victory!.As u have rightly said they will pay the price
dearly soon.
I urge upon bankmen to join together in unison with one voice,one accord & one goal:
the singular goal is:abolishment of
self-defeating Bi-partite settlements & then coming under
the aegis of PAY COMMISSION. Arise,
awake & sleep not till the goal is reached in the next Wage Settlement.
Hats off to u Balu,for your good service to the blog members ,as it has been your forte,giving balanced
views based on facts,figures &
pragmatism sans emotion &
sentimentalism.
sarangapani,r.
rretd.manager.; December 21, 2009 at 11:10 PM
BALAN said...: AN APPEAL TO THE NEGOTIATING TEAM INVOLVED IN THE CONSTRUCTION OF BANK PAY SCALES

Please construct the pay scales by giving maximum load to the basic pay so that it will give cumulative benefit as DA goes up. If not come out from 17.5% theory restrict it for the period 01.11.2007 to 31.03.2009. Since profitability of commercial banks has gone up for the period ended 31.03.2009-21700 crores excluding SBI (11100 crores) total profit all banks put together 33000 crores ,ask more benefit by way of improved hra AT 15%,20% AND 30% AS A THREE TIER STRUCTUIRE with prospective effect from 01.04.2009Here also the increased in expenditure may not be much as majority of the officers are covered by bank lease and the much needed increase will reach clerical and sub staff level who are getting apathetically low increase in their earlier stages. Also split the hump increment of 1400 that may come and add the excess in the beginning. See the possibility of getting 8000 starting basic for the clerical and 7000 starting basic for sub staff at 2836 index level. Request IBA to be magnanimous in their calculation of course with the tacit approval of the government. LIC negotiations are starting and they out rightly rejected the 17.5% offer. Officers starting salary should be at least 16000 and ending may be 60000.
Full DA neutralisation to pre 01.11.2002 retired pensioners should be included in this settlement itself.(ONLY LEFT OUT PERSONS FROM FULL NEUTRALISATION )
Suppose if LIC also convince the government and get higher pay then the bank staff will be only left out persons in the wage rise rally taking place in the country since the announcement of sixth pay commissison.
Try to do justification to the cadre who are taking your words since 1960 and still hoping that something best possible would come out from this wage revision .IF BANKS ARE HAVING CAPACITY TO PAY MUCH HIGHER B WAGES TAKING INTO ACCOUNT THE PROFITABILITY FIGURES AND ALSO IN THE YEARS TO COME BY THE REPLACEMENT OF RETIRED PERSONNELS BY THE FRESHERES WITH ONE THIRD SALARY, ONLY GOOD GESTURE/ PRACTICAL VISION IS NEED OF THE HOUR TO IBA /GOVERNMENT.

K BALASUBRAMANIAN; December 22, 2009 at 2:18 PM
BALAN said...: BUSINESS LINE 23 DEC :Top public sector banks see robust growth in profits
Big jump in advance tax payout points to better performance.

K.R. Srivats
New Delhi, Dec. 22
Contrary to the international trend, large public sector banks (PSBs) expect a quantum jump in bottomline growth in the December and the subsequent quarter this fiscal, going by their advance tax payouts up to the December 15 instalment.
The state-owned/public sector biggies (banks) have clearly bucked the economic slowdown on the back of credit expansion and treasury gains in the first two quarters.
The strong show on the advance tax front points towards buoyant profits in the current quarter also, say analysts. The financial performance of these banks seems more or less untouched by the global financial crisis.
Pvt\foreign banks
On the other hand, large private/foreign banks' advance tax payout show a mixed picture with only HDFC Bank and Axis Bank recording strong double digit growth in payouts.
Large banks like ICICI Bank and foreign banks such as Citibank and HSBC have paid lower advance tax so far this fiscal on a year-on-year basis.
THIS CLEARLY SHOWS THE SUPERIOR PERFORMANCE OF THE NATIONALISED BANKS AND SBI.THEN WHY GOVERNMENT/IBA ARE REFUSING TO SHARE THE BENEFITS AND TO ENCOURAGE THE EMPLOYEES. SOMETHING IS WRONG SOMEWHERE.

K BALASUBRAMANIAN; December 23, 2009 at 5:40 AM
Unknown said...: Is there any meeting today between workmen unions and IBA. Some union sites displays like that. When is the next meeting scheduled.; December 28, 2009 at 8:17 AM
Unknown said...: (1) All Bank staff comments may be true to some extent that recent pay hike of 17.5 % is less compared to the house hold commodities price structure prevailing in present India. But....

(2) Also please note importantly about the benefits received to lacs of retired staff during last 10 years, including VRS optees, from them most had not availed Pension, now got the golden chance to change the option.

(3) I am one of them, who retired under VRS scheme on 30 Dec 2000, and had not availed Pension. I regularly visit retired staff meetings in Ahmedabad and see that many staff like me had about Rs.25 lacs in hand on January 2001, but during last recession of Share Market lost most of that !!!

(4) Now we have the only chance of family maintanance from the possible pension to start from March, 2010.

(5) When I had visited Befi And Aibea offices at Kolkatta during September, 09 many leaders had consoled me that, the Staff Unions have received monthly subscription from ex-staff like me during last 40 years, and leaders are already working for the best for tham.

(6) I request the present staff please bear for us. We are very much thankful to all of you. You have also sacrificed by paying strike days pay to Govtt during last few years, for us.; December 28, 2009 at 7:13 PM
Unknown said...: HOW BANK UNION PEOPLE BLAME RETIRES HAVE TO SUFFER FOR NOT OPTED FOR PENSION. IT IS THE AIBOCWHO HAS ADVISED OFFICERS NOT TO OPT FOR PENSION AS THEY TRYING FOR 3RD OPTION AS IN S.B.I. THOSE OFFICERS ARE AFRAID TO DEFY AIBOC GUIDE LINES DUE TO REMOTE AREA TRANSFER . BANK MANAGE MENT HAS NO ROLE IN TRANSFER POLICY IT THE UNION WHO DICTATE TRANEFER BECAUSE BANK MANAGEMENT & UNION LEADERS ARE REAL BROTHER . THE I.B A KNOWS EVERY THING. MAY I ASK WHY RETIREES WILL NOT GET PENSION FROM THEIR DATE OF RETIREMENT WHEN RETIREES HAVE TO REFUND BANK CONTRIBUTION ALONG WITH INTEREST & PENSION LOAD WHERE IS SOCIAL SECURUTY. WE NEED BANK PAY COMMISSION OF WAGE &PENSION . THE COMMISSION SHOULD BE HEADED BY INSTITUTE OF ECONOMIC GROWTH; December 28, 2009 at 7:57 PM
PM said...: Details of 28th Dec.09 meeting:;As per AIBEA

"Further to the discussions held between the IBA and the Unions on 9 & 10th December, 2009 another round of bipartite discussions took place today at Mumbai between IBA and AIBEA / NCBE / BEFI / INBEF / NOBW. IBA was represented by their Core Committee headed by Mr. Jagdish Pai (ED, Canara Bank). All the 5 workmen unions were represented in the talks.

In today’s meeting, discussions continued on construction of pay scale, revision of special pay, allocation of cost of various items, cost of retirement benefits etc. From the unions’ side, we have emphasized that maximum possible cost to be allocated for construction of revised basic pay. Various suggestions and proposals were discussed in the meeting. However, the discussions have remained inconclusive since on some of the issues, the IBA team wanted to discuss the matter with the higher authorities before reacting to the unions.

It was decided to continue the discussions on the next round of talks for which dates will be fixed up shortly".; December 28, 2009 at 9:09 PM
PM said...: Details regarding meeting of 29th Dec'09.
Today at Mumbai, the second round of the Small Committee meet was held at IBA office, World Trade Centre, Mumbai.
The Small Committee of IBA was represented by Shri Jagdish Pai, Executive Director, Canara Bank, Shri B.B.Das, Shri Rajeev Rishi, Shri R.C.Srivastava, Shri Suresh Chandra, Shri K.Unnikrishnan and Shri M.Venugopalan, AIBOA, INBOC and NOBO were represented by Shri S.Nagarajan, Shri K.K.Nair and Shri S.K.Rathod respectively.
Responding to the proposal submitted by our Four Officers’ Organizations on 10th December 2009, IBA provided a salary chart constructed on 2836 Index point merger with average 20% loading along with notes on outsourcing and pension specifying that 13% of the Basic pay of SBI officers to be kept separately undistributed which SBI will decide how to deal with the same.
In response, we impressed upon IBA the need to have higher start of pay for officers considering the large scale dissatisfaction caused in the last wage revision, tax on perquisites etc. We also stated that appropriation from the Industry level wage load to SBI on pension costing, leave encashment on retirement loaded exclusively, construction of pay scales with 11% loading with merger start at Scale I are unacceptable to the Organizations. With regard to outsourcing, we stated that we shall revert to them after discussions amongst us.
While taking note of our view points, the IBA representatives assured to revisit the areas of concern and respond to us.
Our Organizations shall strive hard to set right anomalies of the last wage revision and also ensure a fair and reasonable wage increase in this Bipartite settlement.; December 29, 2009 at 6:31 PM
chandan said...: MISTAKE:

If a barber makes a mistake,
It's a new style

If a driver makes a mistake,
It is a new path

If an engineer makes a mistake,
It is a new venture

If parents makes a mistake,
It is a new generation

If a politician makes a mistake,
It is a new law

If a scientist makes a mistake,
It is a new invention

If a tailor makes a mistake,
It is a new fashion

If a teacher makes a mistake ,
It is a new theory

If our boss makes a mistake,
It is a new idea

If an bank employee makes a mistake,
It is a mistake only
Mistake Only; January 20, 2010 at 5:47 PM

Monday, December 21, 2009

Bank wage revision update : Next meeting in the first week of January.

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