DA for Bank Employees : IBA issued orders for next quarter from Nov to Dec 2015

DA for Bank Employees : IBA issued orders for next quarter from Nov to Dec 2015

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2015-16/1572

October 31, 2015

All Members of the Association

(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of Novermber, December and January 2016 under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2015 are as follows:-

July, 2015 – 6003.21

August, 2015 – 6026.04

September, 2015 – 6071.69

The average CPI of the above is 6033. Consequently, Dearness Allowance payable to employees is for 398 slabs for the period November, December 2015 and January 2016 i.e. an increase of 34 slabs over the current level.

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the months of November, December 2015 and January 2016 shall be 39.80% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,

sd/-

K.S.Chauhan

Senior Vice President

PS : The DA Payable under IXth Bipartite Settlement/Joint Note dated 27.04.2010, is @ [119.85% (6033-2836)=3197/4] i.e 799 slabs @ 0.15% per slab).

Authority : www.iba.org.in

IBA Circular - Implementation of Medical Insurance scheme to Bank Retirees

Implementation of Medical Insurance scheme to Bank Retirees – IBA Circular

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No CIR/HR&IR/2015-16/XBPS/J/1413

October 1, 2015

To,

All Member Banks which are parties to the Bipartite Discussions

Dear Sir/ Madam,

Implementation of Medical Insurance scheme to Retirees as agreed vide Bipartite Settlement/ Joint Note Dated 25th May, 2015

We refer to our letter No CIR/HR&IR/2015-16/XBPS/961 dated the 29th June, 2015 in terms of which the member Banks parties to the Bipartite Discussions were advised that the medical Insurance Scheme will be extended to the existing retirees also, subject to payment of the agreed Insurance Premium by them. It was also advised to bring to the notice of the existing retirees, the contents of the said scheme and obtain their consent as to whether they are willing to join the Scheme and on receipt of their consent, the details were to be provided to the Lead Insurer i.e. United India Insurance Co. Ltd. appointed by IBA for the purpose.

2. We have been advised by M/s K.M. Dastur Reinsurance Brokers duly authorized by the Lead Insurance Company to collect the employees as well as retirees data from the Banks, that while the employees data has been received by them from the Banks, the retirees data is yet to be provided by the Banks to them. As such, the United India Insurance Co. Ltd. has calculated the premium in respect of the employees of the concerned Banks and has demanded to remit the premium accordingly to them so that Mediclaim Policy in respect of employees may be implemented preferably from 1st October, 2015.

3. In this connection, we advise that a separate Mediclaim Policy in respect of retirees will be issued on similar terms and conditions as is applicable to serving employees, once the data is provided by the Banks to United India Insurance Co. Ltd. through their authorized broker M/s K.M Dastur Reinsurance Brokers and Insurance Premium is remitted to the Insurance Co. The Insurance Premium for retirees is also same as is for serving Employees which is as under :

4. Participating Banks are therefore requested to obtain the consent of the retirees expeditiously and provide the details on prescribed format to M/s K.M Dastur Reinsurance Brokers to enable the Insurance Co. to calculate the Insurance Premium in respect of retirees of the concerned banks accordingly. To make the Mediclaim Insurance Policy operational w.e.f. 1st November, 2015 for retirees, it is suggested to inform the retirees to give their consent for joining the Scheme latest by 25th October, 2015. We have requested to Lead Insurer to allow a grace period of three months to such retirees who could not give their consent by stipulated date as suggested above to join the Scheme after Mediclaim Policy is made operational. In exceptional circumstances, to the satisfaction of the concerned Bank, the request of the retirees may be considered to join the scheme during the currency of the Policy. The Insurance company has agreed for the same.

5. It is pertinent to mention that United India Insurance Co. Ltd conducted workshops in the month of July in Mumbai, Delhi, Chennai and Bengaluru covering representatives from all participating Banks to disseminate the salient features of the Policy, benefits available to the employees/ retirees and to clear the doubts/queries raised by the participants.

6. Please, therefore, make all out efforts to operationalize. the MediclaimPolicy for retirees preferably from 1st November, 2015

Yours faithfully,

sd/-

K.Unnikrishnan

Deputy Chief Executive

Authority: www.iba.org.in

Click to view the circular

Halting allowance as per Census 2011 – IBA issued orders for Bank Employees

Halting allowance as per Census 2011 – IBA issued orders for Bank Employees

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.HR&IR/CIR/2015-16/E(ix)/1348

September 21, 2015

Designated Officers of Member Banks

who are parties to Bipartite Settlement

Dear Sir/Madam,

Revision of rates of halting allowance to officers and workmen staff pursuant to Census 2011

Kindly refer to our circular no. No.CIR/HR&IR/E(iv)/E(xi)/2015-1611187 dated 7th August, 2015 advising banks of the various centres reclassified per Census 2011, for the purpose of payment of higher HRA/CCA in such centres.

Consequent to the revised classification of centres per Census 2011, halting allowance at higher rates has become payable to officers and workmen staff in respect of these centres.

In terms of an earlier decision of the Personnel Committee of IBA and following the practice followed on earlier occasions, banks may pay/reimburse halting allowance at rates according to the revised classification of areas per Census 2011 with effect from 7th August 2015 i.e. the date of issue of circular letter no. No.CIR/HR&IR/E(iv)/E(xi)/2015-16/1187.

Yours faithfully,

sd/-

K Unnikrishnan

Deputy Chief Executive

Authority: www.iba.org.in

Click to view order

Massive Success - Bank Strike today

Bank Strike today – a Massive Success

All India Bank Strike called today by All India Bank Employees Association has been a massive success all over the country. In addition to AIBEA, the strike call has been given jointly by AIBOA, BEFI, INEF and INBOC. Unions in LIC, RBI, NABARD, IDBI also joined the strike. All India Co-operative Bank Employees Federation and all the unions in Regional Rural Banks had also given the strike call. All India Bank Deposit Collectors Federation had also given the call to its members to join the strike. Hence the strike was implemented across in all the Banks in Public Sector, Old generation Private Banks, foreign Banks, RRBs, and Co-op. Banks.

Banking operations were fully affected and paralysed in many States and normal banking services could not be fully functional due to the strike. Payments and receipts of cash in the counters was affected and even clearing of cheques could not be conducted in many centres. Inter-branch cash remittances, remittances of cash to and from currency chest were totally affected. More than five lacs of bank employees and officers joined the strike today all over the country. In metro centres, treasury operations, bills negotiations and inter-bank transactions were also affected. Reports reaching us from States and major centres indicate that strike has been total.

12 point Charter of Demands: The strike was called in support of the 12 point charter of demands of the Central Trade Unions including more jobs for the unemployed youth, control of prices of essential commodities, guaranteed minimum wage of Rs. 15,000, removal of ceiling on Bonus and Gratuity, extending maternity leave benefits to all women workers, strengthening social security funds, etc. and against proposed adverse changes in labour laws, easy rules for retrenchment of workers, investment of PF in stock market, making PF and ESI as optional, curbing trade union justifys and collective bargaining, contracting out and outsourcing permanent jobs, replacing regular jobs with Apprentices, etc.

Anti-people economic policies: The strike is to protest against the anti-people economic policies of the BJP/NDA Government. Black money is increasing but no steps are being taken against it. Inflation goes unabated and Government in casual about it. Investment in agriculture and rural sector is declining but Government does not bother about it. All types of concessions are being showered on the corporate and industrial houses. Foreign Direct Investment is being encouraged even core sectors like Defence, Railways and banking and insurance sector. Public Sector is being weakened through more and more disinvestments.

Banking sector: The strike in Banks is also against the proposed banking reform measures like privatisation and globalisation of our Indian banks, merger and consolidation of public sector banks, allowing private companies to start private banks risking the savings of the poor people, foisting private sector Executives to head the public sector banks, privatisation of Regional Rural Banks, threat of closure of urban co-operative banks and Primary Agricultural Co-operative Societies (PACs), dumping all Government schemes on banks without providing adequate number of employees and officers thus forcing heavy work load on the staff. The real problem of increasing bad loans is not being effectively handled by the Government but on the other hand, cores of rupees are being written off from profits of banks. Deliberate and willful default of bank loans should be termed as criminal offence and money recovered but no action is being taken on them.

As on 31-3-2015 there are 7035 cases of willful defaulters involving bad loans of Rs. 58,792 crores. The bad loans in the Banks as on 31-3-2015 has risen to 2,97,000 crores in addition to another Rs.4,03,004 crores of bad loans of 530 corporate companies shown as rescheduled and restructured loans under CDR scheme. Bad loans struck up in top 30 borrowal accounts of PSBS as on 31-3-2015 is Rs. 1,21,162 crores.

Hence to oppose the anti-people economic policies, anti-worker labour reforms and anti-public sector banking reforms, bank unions have gone on strike. We hope that Government will see reason and change their policies. We thank the bank employees all over the country for their massive and enthusiastic support to the strike call.

Source: www.aibea.in

Banks confirm participation in September 2 general strike nationwide

Banks confirm participation in September 2 general strike nationwide

Bank employees and officers associations have confirmed their participation in the nationwide general strike to be held on September 2.

In a press release, CH Venkatachalam, the General Secretary of All India Bank Employees Association, said,

“The Centre is following anti-worker and anti-welfare policies. Serious damage is being particularly caused to workers’ rights. The Centre is trying to appease the capitalists and industrialists at the cost of the workers and the rest of the society.

“Reforms are being brought to the labour laws in favour of the management. The rights of the workers and labour unions are being taken away. Excessive overseas investments are being allowed into the railways, defence, and finance sectors. New jobs are not being created as much as they should be. The Centre is also not taking any steps to regulate the prices of essential commodities.

“The central workers union has called for a nationwide strike on September 2 to condemn this attitude of the Centre. Bank officers and employees’ unions will participate in this strike.”

Every 2nd and 4th Saturday of every month as public holiday for banks in India with effect from 1st September, 2015

Every 2nd and 4th Saturday of every month as public holiday for banks in India with effect from 1st September, 2015

Ministry of Finance issued orders and necessary gazette notifications regarding declaring every 2nd and 4th Saturday of every month as public holiday for banks in India with effect from 1st September, 2015

F.No.4/1/7/2015-IR

Government of India

Ministry of Finance

Department of Financial Services

Jeevan Deep, IIIrd Floor,

Parliament Street, New Delhi

Dated the August 20. 2015

To
1. Dy. Governor,
Reserve Bank of India.
Central Office,
Mumbai.

2. Chief Executive,
Indian Banks’ Association,
Mumbai.

Subject: Wage Negotiation between IBA Workmen Unions and Officers’ Association – 10th BPS – 2nd and 4th Saturday as Holidays

Sir,

I am directed to refer to IBA’s letter No. HR&IR/XBPS/3/975 dated 25th June, 2015 and RBI’s letter No.DBR(Leg.)No.953/09.04.022/2015-16 dated 15.7.2015 on the subject cited above and to enclose herewith a copy of the Notification(in English and in Hindi) regarding declaring every second and fourth Saturday of every month as public holiday for banks in India with effect from 1st September, 2015.

2. RBI and IBA are requested to take necessary action accordingly.

3. This issues with the approval of Competent Authority.

Encl. As above

Yours faithfully.

sd/-

(Manish Kumar)

Under Secretary to the Government of India

To be published in the Gazette of India, Extra ordinary, Part II, Section 3, Sub-section (II)

MINISTRY OF FINANCE

(DEPARTMENT OF FINANCIAL SERVICES)

NOTIFICATION

NEW DELHI, THE 20 AUGUST, 2015

S.O. – (E) In exercise of the powers conferred by section 25 of the Negotiable Instruments Act, 1881 (26 of 1881), the Central Government hereby declares the second and the fourth Saturday of every month as publlc holiday for banks in India, whether or not such banks are Included In the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), with effect from the 1st day September, 2015.

(F. No. 4/1/7/2015-IR]

sd/-

(Mohammad Mustafa)

Joint Secretary to the Government of India

To
The Manager,
Government of India Press,
Ring Road, Mayapuri,
New Delhi -110064.

Image Source: www.banknewskumar.blogspot.in

Dearness Allowance for Bank Employees – IBA Circular issued on 3.8.2015

DA for Bank Employees – IBA Circular issued on 3.8.2015 for Aug, Sep & Oct 2015

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2015-16/1159

August 3, 2015

All Members of the Association

(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September & October 2015 under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2015 are as follows:-

April, 2015  – 5843.43

May, 2015   – 5889.08

June, 2015  – 5957.56

The average CPI of the above is 5896. Consequently, Dearness Allowance payable to employees is for 364 slabs for the period August, September & October 2015 i.e. an increase of 27 slabs over the current level.

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015 the rate of Dearness Allowance payable to workmen and officer employees for the months of August, September & October 2015 shall be 36.40% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,

sd/-

Senior Vice President

PS : The DA Payable under IXth Bipartite Settlement/Joint Note dated 27.04.2010, is @ 114.75% (5896-2836=3060/4 i.e 765 slab @ 0.15% per slab).

Authority : www.iba.org.in

Finance Ministry approved 10th Bipartite Settlement Wage Revision for Public Sector Bank employees

Finance Ministry approved 10th Bipartite Settlement Wage Revision for Bank employees for period 1.11.2012 to 31.10.2017

Salary Revision for Officer Employees of Public Sector Banks governed by Officer’s Service Regulation – 10th Bipartite Settlement for period 1.11.2012 to 31.10.2017

Government of India

Ministry of Finance

Department of Financial Services

Jeevan Deep. IIIrd Floor,

Parliament Street, New Delhi,

Dated the June 19, 2015

To

Sh. M.V.Tanksale,

Chief Executive,

Indian Banks’ Association,

Mumbai.

Subject: Salary Revision for Officer Employees of Public Sector Banks governed by Officer’s Service Regulation – 10th Bipartite Settlement for period 1.11.2012 to 31.10.2017

Sir.

I am directed to refer to your letter No. HR&IR/KSC/GOVT/665 dated 25th May, 2015 on the above subject and to say that Government has ‘No objection‘ to IBA authorizing the Banks to pay revised salary and arrears of pay and allowances to serving officers and revised pension and arrears to existing pension optees retired w.e.f. on or after 1.11.2012 as per the provisions at the Joint Note pending amendments to the Officer’s Service Regulations/Pension Regulations subject to the provisions made by the respective banks in the particular year.

2. As regards declaring 2nd and 4th Saturday as holidays and other Saturdays as full working days is concerned. IBA may rater to this Department’s letter No. 4/1/7/2015-IR dated 2.6.2015.

3. This issues with the approval of Hon’ble Finance Minister

Yours faithfully,

(S R. Mehar)

Deputy Secretary to the Government at India

Click to view the original order

Source: http://banknewskumar.blogspot.in/

Public Sector Bank Employees Union Announce Strike on 24.6.2015

Bank Employees Announce Strike on 24.6.2015

The Public Sector Bank Employees Union has proposed a one-day strike on the 24th of this month, demanding the fulfillment of their various demands. The All India Bank Employees Union has expressed its support for the strike.

Since State Bank of India and all its other associate banks, including the State Bank of Bikaner and Jaipur, the State Bank of Travancore, and the State Bank of Hyderabad, come under the Public Sector Bank Employees Union, the one-day strike is very likely to cripple money transactions on the day of the protests.

Click to continue reading…

10th Wage Agreement – IBA (Indian Banks’ Association) Circular

10th Wage Agreement – IBA Circular

Indian Banks’ Association

10th Wage Agreement

Indian Banks Association inked wage settlement with Employee Unions and Officers’ Associations today, 25th May, 2015. The settlement gives 15% increase in salary and Allowances to about 10 lakh bank employees.

Employees and officers from 43 banks including public sector banks, old private sector banks and some of the foreign banks benefit from the wage revision. The current wage revision is effective from 1st November 2012 and will be valid for 5 years. In all 11 All India Employees Unions and Officers’ Associations participated in the wage revision exercise.

The scale pay of Officers has been revised from Rs.14500 – Rs.52000 to Rs.23700 – Rs.85000. (Special allowance for officers ranging from 7.75% to 11% of basic pay along with applicable Dearness allowance has also been introduced)

The scale pay of Workmen – non-subordinate has been revised from Rs.7200-Rs.19300 to Rs.11765-Rs.31540, also the scale pay of Subordinate staff has been revised from Rs.5850-Rs.11350 to Rs.9560-Rs.18545. (Special allowance for workmen @7.75% of basic pay along with applicable Dearness allowance has also been introduced)

Another important feature of the settlement is that a medical insurance scheme is being introduced for families of employees.

The 15% wage revision would cost the Public Sector banks Rs.4725 crores as incremental Salary and allowances in a year. Banks have been making provision for wage revision from November 2012. Mr. T M Bhasin, Chairman, IBA and Mr. Rajiv Rishi, Chairman, Negotiating Committee of IBA led the Management team in the negotiations. IBA expects banks will implement the revision immediately.

IBA expects the salary revision to improve the moral of the bank employees, leading to better productivity.

Click here to view the circular

Indian Banks’ Association issued orders for Dearness allowance for bank employees from May 2015.

Indian Banks’ Association issued orders for Dearness allowance for bank employees from May 2015.

Bank Employees DA – Orders issued for May, June and July 2015 by IBA

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/76/D/2015-16/1742

May 2, 2015

All Members of the Association

(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2015 under IX BPS/Joint Note dt. 27.4.10

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended March 2015 are as follows:-

Jan 2015 – 5797.78

Feb 2015 – 5774.95

Mar 2015 – 5797.78

The average CPI of the above is 5790.17 Consequently, dearness allowance to employees is payable for 738 slabs for the period May, June & July 2015 i.e., an increase of 4 slabs over the current level.

In terms of clause 7 of the 9th Bipartite Settlement dated 27.04.2010 and clause 3 of the Joint Note dated 27.04.2010, the rate of dearness allowance payable to workmen and officer employees for the months of May, June & July 2015 shall be 110.70 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowances to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,

sd/-

K S Chouhan

Senior Vice President

Authority: www.iba.org.in

Click to view the order

IBA – UFBU meeting on 16th April 2015 – AIBEA Report

IBA – UFBU meeting on 16th April 2015 – AIBEA Report

Today (16-04-2015) IBA – UFBU meeting took place wherein all details of proposed new medical reimbursement scheme was discussed.

Scheme will be finalised shortly.

For retirees also we have asked IBA to workout a similar scheme.

In the afternoon discussions on other demands of workmen and officers were discussed.

Next week negotiating committee meeting will be held and pay scales etc. will be discussed.

Source: AIBEA

10th Bipartite Settlement – Sub committee meeting on bank bipartite on 16th April

10th Bipartite Settlement – Sub committee meeting on bank bipartite on 16th April

Sub committee meeting on bank bipartite on 16th April

As per the Minutes signed by the Bank Unions (UFBU)and Indian Banks Association(IBA) on 23rd Feb 2015 the 10th Bi partite Settlement on Bank Employees wage Revision has to be signed within 90 days.

In this process all issues as per Charter of Demand ,has to be sorted out within that period.

The Sub committee meeting on medical reimbursement is scheduled to be held on 16th April at 11.00 am. Meeting with workmen unions will be held at 2.00 pm

News courtesy : Mohan.P

Source: paycommissionupdate.blogspot.in

Bank Employees Wage Revision – Feedback of meeting with IBA on 17.3.2015

Bank Employees Wage Revision – Feedback of meeting with IBA on 17.3.2015

All India Bank Employees Association (AIBEA) published the discussion points in the meeting with Indian Banks Association held on 17th March 2015.

Nearly 26 points were discussed in the meeting and more important issues like construction of Revised Pay Scales, revised DA formula, HRA rates, Transport Pay, introduction of Grade Pay, revision of Special Pay, LFC, revision in other allowances, retirees’ issues, etc. and other issues/ demands would be taken up for discussions in the subsequent rounds of meetings.

DETAILS OF DISCUSSION WITH IBA ON 17.03.2015
Discussions with IBA on 17-03-2015

Units and members are aware that our charter of demands includes demands on improvement in various service conditions apart from increase in wages. Prior to the signing of the Minutes of Discussion on 23-2-2015, there were two rounds of discussions with the IBA on these issues. Yesterday i.e., on 17.03.2015, one more round of discussions took place, during which understandings have been reached on the following issues:

1) ENCASHMENT OF LEAVE: The benefit of encashment of Privilege Leave will be available even in the cases of resignations from the Bank after 20 years of service as well on loss of job due to punishments (other than cases of punishment of Dismissal and cases where there is loss to the Bank).

2) LEAVE: The present stipulation that Casual Leave (CL) upto 4 days can be availed continuously provided the total absence including Sundays and holidays does not exceed more than 6 days would be deleted.

3) Presently Unavailed Casual Leave (UCL) can be availed for a day without production of medical certificate. In addition UCL may be availed without production of medical certificate for 4 days at a time once in a year or 2 days at a time twice in a year.

4) Privilege Leave (PL) can be availed on 4 occasions in a year (as against 3 occasions at present).

5) 15 days’ Notice would be sufficient to avail Privilege Leave (as against 30 days’ notice at present).

6) Privilege Leave can be accumulated upto 270 days (as against the existing ceiling of 240 days). However, encashment upto 240 days would continue as at present.

7) Special Sick Leave with Salary for a maximum period of 30 days would be sanctioned to an employee while on hospitalisation for donation of kidney or any organ.

8) Maternity Leave, within the overall entitlement, would be granted for 60 days (now 45 days) in the case of hysterectomy.

9) Maternity Leave for legal adoption of a child would be 6 months (now 2 months)

10) The above facility of Maternity Leave would also be available to a biological mother in cases where the child is born through surrogacy.

11) Part time employees would also be entitled to Maternity Leave under (9) and (10) above.

12) Paternity Leave would be extended on the lines of Government employees i.e. 15 days at a time on 2 occasions.

13) Study Leave upto 2 years would be sanctioned to workmen employees as available to officers.

14) Sabbatical Leave for women employees would continue to be extended on the lines of government guidelines.

15) Sabbatical Leave for male employees would be referred to the Government for consideration.

16) Extraordinary Leave (without Pay) would be sanctioned upto a max. of 720 days during the entire service (as against the existing ceiling of 12 months).

17) Special Casual Leave for absence due to curfew would include exigencies like riots, prohibitory orders, natural calamities.

18) Special Leave for Sports activities, trekking, mountaineering, etc, would be dealt with at each Bank level.

19) INTRODUCTION OF LEAVE BANK: System of Leave Bank would be introduced by which employees can voluntarily donate a part of their entitled leave to a common pool from out of which leave with salary would be sanctioned to employees who are compelled to be on prolonged leave due to treatment of major diseases/accidents and other contingencies beyond their control and where such employees have exhausted all their leave.

20) Diem Allowance: Diem Allowance payable while on travel on duty would be revised upwardly and quantum would be finalised in the next meeting.

21) When employees travel on duty to another station and stay in a hotel, the room rent would be reimbursed; the eligible rates would be finalised in the next meeting.

22) Transportation of goods while on transfer: An employee while on transfer from one station to another can transport his personal effects by train or road (even if the places are connected by train) upto the stipulated weights by an IBA approved Transport Operator.

23) Compensation for Breakages: Compensation for losses due to breakages or damage to goods while transporting would be reimbursed as under:

Existing amount on production of receipts for Clerks – Rs.1120 to be revised as Rs.1500

Existing amount on production of receipts for Substaff – Rs.745 to be revised as Rs.1000

Existing amount without production of receipts for Clerks – Rs.745 to be revised as Rs.1000

Existing amount without production of receipts for Substaff – Rs.560 to be revised as Rs.750

24) Travel on Duty/on transfer:

Existing for Non-Subordinate employees 1st Class to be revised as AC 2 Tier

Existing for Subordinate employees 2nd Class to be revised as AC 3 Tier

25) Dependents’ Income Criteria: Income limit to define a dependent would be Rs. 10,000/- per month (as against the existing Rs.3,500/- p.m.)

26) Pension for part time employees: The entire service period would be taken for arriving at eligible pension instead of pro-rata service.

Important issues like construction of revised Pay Scales, revised DA formula, HRA rates, Transport Pay, introduction of Grade Pay, revision of Special Pay, LFC, revision in other allowances, retirees’ issues, etc. and other issues/ demands would be taken up for discussions in the subsequent rounds of meetings.

Further development on these issues will be informed to members in due course.

Source: AIBEA

Government wants to encourage Bank Boards to restructure their business strategy…

Government wants to encourage Bank Boards to restructure their business strategy and also suggest way forward for their consolidation and merger with other banks if it is win-win for both.

Banking Reforms

Performance of Public Sector Banks has remained sub-optimal so far. The Government is taking various steps to improve the situation both on governance side and otherwise. The focus of these reforms is to improve the quality of deliberations in bank boards, leading to better asset quality and further resulting in better market valuations.

What has been done

(i) Separation of the post of Chairman and Managing Director.

(ii) Enabling provision for the appointment as MD & CEO in five major banks, so that wider choice is available. Both Public Sector and Private Sector bankers can apply. Higher salary can be given in appropriate cases.

(iii) Revamping of present selection system which inter-alia includes structured three separate interviews, allotment of banks on merit-cum-preference basis.

(iv) Blue print for road map for reforms on the basis of deliberations carried out in GyanSangam, a two days top level retreat organised by the department.

(v) Allocation of capital purely on the basis of efficiency parameters so that banks start focusing on these.

(vi) Clear instructions from the department regarding no interference whatsoever in any matter whether related to HR issues or credit decisions or even otherwise.

What Next

(i) In order to improve the Governance of Public Sector Banks, the Government intends to set up an autonomous Bank Board Bureau with professionals as its members. It would be responsible for search and selection of heads of PSBs, as also for Non-Official Directors on the Boards of Banks. This would be an interim step towards moving in the direction of having a Bank Investment Company.

(ii) Guidelines relating to appointment of non-official directors is being revisited to ensure that bank boards get people with relevant expertise. Anybody eligible would be able to apply through a website which will soon be available in the public domain.

(iii) Government’s role in relation to public sector banks is that of promoter. As a promoter, the banks have been entering into anMoU for achieving certain objectives known as Statement of Intent. The whole system of Statement of Intent is being revised with provision for higher cash incentives.

(iv) Government wants to encourage Bank Boards to restructure their business strategy and also suggest way forward for their consolidation and merger with other banks if it is win-win for both.

Source: PIB News

AIBOA published discussion and decision taken in the meeting with IBA on 23.2.2015

IBOA published discussion and decision taken in the meeting with IBA on 23.2.2015

ALL INDIA BANK OFFICERS’ ASSOCIATION

Circular No.6/VI/2015

February 23, 2015

Camp: MUMBAI

To:
ALL UNITS / STATE COMMITTEES

Dear Comrades,

WAGE REVISION – 18TH ROUND.

TOTAL QUANTUM CLINCHED.

A NEW SERVICE CONDITION INTRODUCED.

4 DAYS STRIKE CALLED OFF.

In the background of C.L.C.(Central) Delhi, counseling IBA and also representatives of the unions to get back to the negotiation on 20.02.2015, in which Com.Alok Khare, Vice Chairmen, Com.S.S.Shishodia, President and Com.Sanjay Khan Joint Secretary AIBOA participated and at the CLC’s advice IBA invited the unions for discussions on 23.02.2015.

To-day, a meeting was held at IBA office at 11.30 am. Representatives of all the eleven unions participated in the discussions.

2. IBA team was led by Shri.T.M.Bhasin, Chairman IBA, Smt.Arundhati Bhattacharya Chairman SBI, Smt.V.R.Iyer, Chairperson and Managing Director BOI, Shri.Rajeev Rishi,CMD,CBI,Shri.Ashwini Kumar,CMD DB, Shri.Arun Tiwari CMD UBI, Shri.Rakesh Sethi CMD All Bank, Shri.Animesh Chauhan MD&CEO OBC,Shri.Ashwini Mehra DMD SBI Shri.Shyam Srinivasan CEO Federal Bank, Shri.M.V.Tanksale CEO IBA, Shri.K.Unnikrishnan Dy CEO,IBA, Shri.K.S.Chauhan besides officials of HR department of IBA.

3. While initiating the dialogue Shri.M.V.Tanksale CEO IBA expressed the progress made in the last 18 rounds and also the meetings held with the subgroups with workmen and officers during this period. Shri.Rajeev Rishi Chairman Negotiating Committee IBA, picked up the thread from the last discussion held on 3.02.2015 and reiterated that unions should come forward with the revised demand. Com.M.V.Murali, Convenor UFBU presented in a pointed way the chronological progress of the conduct of the negotiations and also the ‘U’ turn of IBA on 03.02.2015 vis a vis the assurance made on 19.01.2015 precipitating the crisis.

4. Shri.T.M.Bhasin, Chairman IBA quoting the details of the earlier bipartite benefits, ultimately indicated the paying capacity of the individual banks is the deciding factor, indicated failure at Industry level to force a situation of individual bankwise settlement. He also appealed to appreciate the present situation in Q3 performance of various banks and realize the need to fold up the negotiation with the offer of further 0.5% increase from 13% made on 03.02.2015 by Shri,Rajeev Rishi, Chairman Negotiating Team IBA.

5. Smt.A.Bhattacharya Chairman SBI in her pointed presentation dealt the present position of Public Sector Banks vis a vis Private Sector Banks, present capital infusion announcement of Rs 6990 crores by Government of India and also to realize the need to finalise the agreement keeping in mind the various serious developments having global compulsions and also stipulations. To get the priority reallocation of PSB employees at par with Central government employees for the purpose of admission of the wards in Kendriya Vidyalayas by her efforts was also shared in the meeting. Smt.V.R.Iyer, too supported the view points expressed by Chairman SBI and explained the need to function as a team to keep PSBs in tact and not to allow the Private sector banks to sneak in to capture the business from us..

6. After protracted negotiations, ultimately the understandings have been clinched which are as follows;
a. Date of Effect 1.11.2012.
b. Total Increase of 15% in Payslip components- amounting of Rs 4725 crores.
c. Construction of new Basic Pay by merging 60.15% of D.A impact where of not to exceed 2% of BP plus DA amounting Rs 597 cr.
d. 2nd and 4th Saturdays will be holidays and other Saturdays will be full working Days.

7. Thus the exercise to construct new Basic Pay effective from 1.11.2012 has been initiated by sealing the agreement, with the first step to clinch a new working condition in the era of Information and Communication Technology explosion, quite nearer to our most important demand of 5 day working.

8. AIBOA place on record the role played by Com.D.Raja CPI MP leading AIBEA –AIBOA delegation to meet FM on 19/02/2015 and making sincere efforts to break the deadlock in the Banking Industry avoiding paralysis of the nerve centre of the economy in the last week of this month., due to the proposed 4 days strike which now stands called off consequent to signing of MOU as above. Detailed Pay structures may now be worked out with IBA in subsequent meetings besides discussions other left out issues including of those pertaining to retirees.

9. Comrades, while rejoicing this success of wage increase, let us not be complacent in our efforts to protect our Public Sector character of our Industry and also preserve the jobs and jobs security secured by the founding fathers of our movement.

CONGRATS !!! YOU ALL HAVE MADE IT TO HAPPEN.

Yours comradely,

S.NAGARAJAN.

GENERAL SECRETARY

Source: www.aiboa.org

Increase of salary for bank employees

Likely increase of salary for bank employees

After long wait and negotiations, strike call and withdraws, finally the wage hike settled for bank employees with 15% hike in pay slip components and two extra holidays per month. Click here for details. Details of hike and joint note will be prepared within three months. As per sources, two saturdays will be holidays from 1st April onwards.

Bank employees are very much eager to know the amount of exact increase in pay slip. Though no official confirmation is available, we reproduce a likely chart of increase as procured and sent by one of our viewers, Mr Debashis Das.

Click here to view the approximate pay hike chart

Source: www.paycommissionupdate.blogspot.in

Bank Employees Wage Revision – 10th Bipartite Wage Settlement

Bank Employees Wage Revision – 10th Bipartite Wage Settlement Comes to an End

WE ARE HAPPY TO INFORM THAT IN TODAY’S TALKS, WAGE REVISION SETTLED AT 15% (RS.4725/- CRORES) WITH EFFECTIVE FROM 01.11.2012.

2ND AND 4TH SATURDAY’S WILL BE HOLIDAYS AND OTHER SATURDAY’S WILL BE FULL WORKING DAYS.

STRIKE DEFERRED.

DETAILED CIRCULAR FOLLOWS.

Indian Banks’Association

Minutes of the discussions held on 23rd February 2015 between IBA representing

Management of banks which are parties to the Bipartite settlement and

Workmen Unions and Officers Associations on wage revision

Discussions were held between the Indian Banks’Association representing Managements of banks and the authorized representatives of Workmen Unions and Officers Associations on wage revision for officers in banks. After holding several rounds of discussions, the parties have mutually agreed as under:

1. The wage revision will be effective from 1.11.2012

2. The annual wage increase in salary and allowances @ 15% which works out to Rs.4725 crores on salary slip components.

3. The new scales will be constructed after merging dearness allowance corresponding 4440 points as on November 2011, which works out to 60.15% and adding a load factor of 2% on Basic pay plus Dearness Allowance as on 31st March 2012 amounting to around Rs.597 crores.

4. Distribution of annual wage increase between workmen unions and Officers Associations will be worked separately based on breakup of establishment expenses as on 31-3-2012.

5. Every second and fourth Saturday of the month will be a holiday and the other Saturdays will be full working days.

6. All other issues of the Managements and Unions/Associations discussed during the process of negotiation will be settled to the mutual satisfaction.

7. The parties will meet on mutually convenient dated to draw out a detailed Bipartite Settlement/Joint Note on the various issues on which consensus positions have been reached. The parties will endeavour to finalise the Bipartite Settlement/Joint Note within a period of ninety days from the date of this minutes.

Signed at Mumbai on 23rd February 2015

For Management
TM Bhasin
VR Iyer
Arundhati Bhattacharya
Rajeev Rishi
Ashwani Kumar
Arun Tiwari
Rakwshi Bethi
shyam Srinivasan
Animesh Chauhan
Ashwini Mehra
MV Tanksale
K Unnikrishnan
KS Chauhah

For Officers Association Workers Unions

All India Bank Officers Confederation
All India Bank Officers Association
Indian National Bank Officers Congress
National Organisation of Bank Officers
All India Bank Employees Association
National Confederation of India
Bank Employees Federation of India
Indian National Bank Employees Federation
National Organisation of Bank Workers

Click here to view the original 10th Bipartite Wage Revision Settlement Minutes

Source: www.7thpaycommissionnews.in