Wednesday, May 12, 2010


CIRCULAR NO.61           11.05.2010                                             

          In the matter of salary and allowances, RRBs are at par with the Public Sector Banks.  Justice Obul Reddy awarded extension of pay and allowances of Public Sector Banks to the employees of RRBs.  Even there after, there was reluctance on the part of the Sponsor Banks in extending the parity in pay and allowances to RRBs.  Our affiliate, AIRRBOF was forced to knock the doors of the courts for implementation of the NIT award in RRBs.

2.       We ensured that, the 8th Bipartite Settlement was extended to the Officers’ of RRBs.  Much against our opposition, NABARD had disbursed the arrears in respect of 8th Bipartite, in two installments.  We have to-day sent a letter to the Hon’ble Finance Minister, Govt. of India requesting him to arrange for necessary instructions to NABARD for extension of 9th Bipartite to RRBs.

3.       A copy of our communication is enclosed for the information of our members.  We shall advise the developments in due course.

With greetings,


                             GENERAL SECRETARY

No.1410/148/10                                                      11.05.2010

Sri. Pranab Kumar Mukherjee
Hon’ble Finance Minister,
Government of India,
South Block, Parliament House,
New Delhi.

Respected Sir,


          At the outset we express our gratitude and thanks from the core of our heart on behalf of 2.5 lac officers, under the banner of AIBOC, for the settlement of 9th Bipartite Salary revision at 17.5% of the wage bill. 

2.       We are also indebted to your goodself in providing one more option to the provident fund optees (CPF) in Banks to switchover to the Pension Scheme.

3.       In accordance with the National Industrial Tribunal Award, Regional Rural Banks employees are eligible for parity in pay and allowance applicable in Banking Industry under “equal pay for equal work” concept.  At the instance of the Govt. of India, National Bank for Agriculture and Rural Development (NABARD) has extended 8th Bipartite Settlement to the Regional Rural Banks for the period from 01.11.2002 to 31.10.2007.

4.       We shall be glad, if you will please arrange to issue necessary communication to NABARD to extend the 9th Bipartite Settlement on salary and allowances to RRB employees and officers’ w.e.f 01.11.2007.

5.       We shall also be glad if, much awaited improvements in Provident Fund and Pension Rules of RRBs are taken up for discussion with our affiliate AIRRBOF, to provide them an assured social security. It is needles to mention that, RRBs are doing yeomen service to the common man and are also generating profits.  Therefore, they deserve to be encouraged.

6.       We shall be glad to receive your positive response in the matter.

Thanking you and with regards,
                                                                                   Yours faithfully,

Source : AIBOC


chandan said...

Periodic writing becomes a fashion of Mr Nadaf to establish his concerned for bankers/ members. Can he change the effective date of new gratuity ceiling 10 lakhs from May-2010 to January-2006 or 2007 ? If not, then what's the value of these writing ? Only propaganda and propaganda. Mr Nadaf certainly we are not the spoon feeding babies.


Jay Vijay said...

This is what pf optess will receive from banks contribution if one is now in clerck
Years to retire As on Banks pf Yrly contri Int@8.60 on march balnce finaltotal
12 31/03/2010 522000 27888 44892 594780
11 31/3/2011 594780 27888 51151 673819.08
10 31/3/2012 673819.08 27888 57948 759655.5209
9 31/3/2013 759655.5209 27888 65330 852873.8957
8 31/3/2014 852873.8957 27888 73347 954109.0507
7 31/3/2015 954109.0507 27888 82053 1064050.429
6 31/3/2016 1064050.429 27888 91508 1183446.766
5 31/3/2017 1183446.766 27888 101776 1313111.188
4 31/3/2018 1313111.188 27888 112928 1453926.75
3 31/3/2019 1453926.75 27888 125038 1606852.45
2 31/3/2020 1606852.45 27888 138189 1772929.761
1 31/3/2021 1772929.761 27888 152472 1953289.721
At super annution suppose if your wages are same and pf interst is at 8.6% what would be the banks pf contribution kitty one likely to get
so your 5.22 lacs after 12 years will give you 19.53 lacs 274 % increase
so it may be like this
pf own 19.53
pf banks 19.53
gratuity 6.80
leavedepends 2.00
47.86 lacs
And if we die then family will of pf optee will get this same amount if we are pf optee
But if we are pension optee what will we get
pf own 19.53
pf Banks Nil
gratutiy 6.80
leave 2.00
28.33 lacs but family pension
as good as given alms to beggers.

But the point is looking at the world economy as recently as Greece's debecale and many pension paying co in us and uk have gone bankrupt and they have literally stopped paying pension suppose if this world turmoil is not halted then India would be worst affected what if any of our banks where GOI is decresing its holding will nd also paying Govts vote baks like waiver of banks Lons on famers to the tune of 70000 crs .
What is the gurantee for such in India

If you are a Pension optee it is not easy to take volantarily retirement . as per pension regulation act It needs a sanction from competnat authority who may or may not grant vr.

Sashank said...

Referring to Chandanji,

Is the Gratuity limit of 3.50 lacs has officially increased to 10 lacs from May 2010.
if possible can u please provide a link for it

chandan said...

Referring Sashank 13, 2010 4:54 AM:

Payment of Gratuity Act 1972 has been revised from Rs.3.5 lacs to Rs.10 lac with the passage of the Bill in the Loka Sabha for amendment on 3.4.2010. The bill has to be passed at Rajya Sabha. For GOI employees it has already been done w.e.f 1st Jan 2006. AIBOC requested for the same for bank employees. Let's wait and see the development.


rishikesh said...

katora ke badle chitthi likhkar kuch kuch mangte rahte hain. milta to wohi hai jo daata pale se decide karta hai lekin bhikh mangne ka bazaar chalta rahta hai.

SNEHA said...

when the 9the BPs is going to be implemented in RRBs, whether total9the BPS is implements in RRBs OR
any games are going to be played by USELESS G.D.NADAF.

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