IBA to sign wage revision pact with banks unions on Monday-Times of India 23.05. 2015
VADODARA/MUMBAI: Bank unions will be formally signing the new wage revision agreement with the industry body Indian Banks Association (IBA) on Monday, one of the heads of the unions said on Friday.The pact, which will benefit 8.5 lakh employees from all the state-run banks, old generation private banks and some large foreign banks, will be signed after years of lengthy negotiations between the UFBU (United Forum of Bank Unions), an umbrella of of nine unions and the IBA.
On February 23, the parties had announced a deal under which employees would be given 15 per cent wage hike on pay-slip components, which will result in an additional salary burden of Rs 4,725 crore per year to the system.
All-India Bank Employees Association (AIBEA) general secretary C H Venkatchalam and a member of negotiating team of the UFBU said the pact will be signed on Monday.
A senior IBA executive also confirmed in Mumbai that the agreement will be formally signed on Monday.
Under the February agreement, both the parties had agreed to settle all the pending issues in 90 days, which ended today.
The negotiations are under final stage and will be closed by Monday when the agreement will be signed, Venkatchalam said.
The agreement for which the employees have repeatedly struck work, says state-run bank employees will be able to get an off on alternate Saturdays.
This is a departure from the current practice, where employees work for half-day on Saturdays. To compensate for this, they have agreed to work full day on alternate Saturdays.
Wage revision in state-run banks is done every five years and the last was done in 2007. Venkatachalam said the current revision will be applicable from November 2012.
PSU bank employees will soon get pay hike, arrears for 30 months-Hindu Business Line
Mumbai, May 22:
Employees of public sector banks, old generation private sector banks and some foreign banks will be a happy lot as they will soon get 15 per cent pay hike, arrears for the last 30 months, and other benefits as part of a deal that the unions and bank managements have reached.
Unions, under the aegis of the United Forum of Bank Unions, and bank managements, represented by the Indian Banks’ Association, have worked out a detailed Bipartite Settlement/ Joint Note and the same will be formalised on May 25.
The benefits that about 7.50 lakh bank employees stand to get are a special pay, a new hospitalisation scheme backed up by insurance and holiday on every second and fourth Saturday in a month.
The back wages (arrears) that bank employees will get for the last 30 months will warm the cockles of their heart. Income tax authorities too will be happy as arrears will be taxable.
S Nagarajan, General Secretary, All India Bank Officers’ Association, said “A special allowance has been introduced for employees… there is a new hospitalisation scheme backed up by insurance.” The wage settlement will benefit 3,04,000 odd officers (as on March 31, 2012) in the banking sector.
Officers will get health insurance cover of Rs. 4 lakh and the clerical and sub-staff will get Rs. 3 lakh cover, he added.
A corporate buffer will be created by banks to reimburse hospitalisation expenditure exceeding the abovementioned limits.
Pointing out that the last wage settlement expired in October 2012, Nagarajan, in a lighter vein, observed that “Five years is the tenure of the wage settlement. We have already exhausted 30 months in coming to a settlement. It’s time now to submit the next charter of demands.”
Vishwas Utagi, Vice President, All India Bank Employees Association, said the wage settlement will benefit about 4.50 lakh clerical and sub-staff in the banking sector.
Bank employees will get close a couple of lakh rupees, on an average, as arrears in gross terms, he explained. Since payrolls are computerised, the arrears could be credited to employees’ accounts in a month.
Utagi said the issue of upgradation of pension of retirees and 100 per cent neutralisation of dearness allowance will be taken up by the United Forum of Bank Unions separately.
Will Sardar Harvinder Singh Stick to His Commitment on Second and Fourth Saturdays Being Off and Resolving the Issues of Retired Bankers ?-By Rajesh Goyal
I am writing this article with a heavy heart and I do not see any other ray of hope. AIBOC circular No 2015/20 dated 18th April 2015 (You can download and read the full circular by CLICKING HERE) signed by Mr Harvinder Singh, General Secretary, and addressed to all its members had the following two important paragraphs, which had reassured the bankers that at least there is one Sardar in the UFBU, who is likely to take a stand and protect the interest of the Aam Banker, serving as well as retired, and he will not sell the interests of the Aam Banker.
(a) In the above referred circular Mr Singh has clearly written “We also made it very clear in the UFBU meeting that we will NOT SIGN any agreement till the time the second and fourth Saturday off in the Banking Industry is ensured or a firm commitment is signed by IBA in this regard giving a time line for its implementation”
(b) In the above referred circular Mr Singh has also informed all the AIBOC members that “We also expressed our STRONG views about taking up the issues of retirees like 100% DA neutralisation for retirees prior to 01.11.2001, updation of pension, revision in family pension and extension of another option of pension to resignees and compulsorily retired who have been excluded from the option of pension despite the clear understanding in the last settlement. We also emphasized that group hospitalization insurance policy for retirees should also be demanded from IBA.”
Frankly speaking, overall I have a great regard for Sikhs as my childhood had been spent in Punjab, and still some of my relatives are in Punjab. I have seen how Sardars keep their promises. Once they have committed about an issue, majority of them are ready to put all their stake on those words. All history books proudly point out the Sikh community as protector of weaker sections.
Thus, when as late as April 2015, I read the above words, I felt assured that the above issues will certainly be resolved before the 10th BPS is signed as Mr Singh will not sign the BPS till the above issues are resolved. However, the latest reports indicate that even Mr Harvinder Singh is meekly submitting to the pressures of IBA and some of the workmen unions, who are hell bent upon to cheat Aam Banker. The present status of the talks indicate the following:-
(a) 10th BPS will be signed on 25th May, 2015 (Monday) by all 9 unions including AIBOC;
(b) The reports indicate that IBA is not going to give any firm commitment / (date from which these will be made applicable) for second and fourth Saturday being declared as holidays. IBA at the most is likely to agree that it will pursue with the Government to agree with their recommendations. Recommendations may be accepted or denied in future. IBA is not likely to give any date from which these two Saturdays will be off.
(c) 10th BPS to be signed on 25th May 2015, in all probabilities will not address the issues of retired bankers, which Mr Singh had elaborated in his letter dated 18t April, 2015. All retired bankers are likely to be dumped to fend for themselves and seek refuse of the Courts.
Through this article, I would like to remind Mr Harvinder Singh to come clean as to why he is not sticking on his words. Was the letter written merely a month back has been forgotten by him or was it a ploy to cheat Aam Banker? What has transpired during this one month. Why he is afraid of speaking the truth? Who is pressuring him to sign the 10th BPS without resolving the above two issues. I will request him to behave like a true Sikh and ensure that the commitment he has made is adhered as he is from a majority officer’s union and no agreement for officers can be implemented without his signatures.
Any betrayal at this stage will ruin the prospects of AIBOC as IBA can always go back on the issue of two Saturdays being off. The dumping of retirees will also bring a set back to AIBOC as majority of the seniors bankers have been loyal members of AIBOC through out their career.
Bank officers across India will be watching whether AIBOC stick to your words and commitment given in your circular dated 18th April, 2015, or else they will never pardon you. You have merely 48 hours to ponder on this issue and make up your mind. If the BPS is signed without addressing the above two issues, nobody will believe your lame excuses afterwards.
Retirees issues should also be settled. Bad settlement for retirees
ReplyDelete