All India Strike In Bank On 28 Fab

"In a meeting held at Mumbai today all constituents of UFBU decided the demands to be covered in our Notice of All India Strike on 28th February, 2017 as under:
*Opposing*

1. Retrograde amendments in Banking and T.U. laws.
2. Opposing all anti worker and anti Public Sector moves of the Government.
3. Outsourcing of permanent jobs.

*Demanding*
1. Adequate Compensation to officers and employees for working late and on holidays during demonetisation.
2.Reimbursement of cost of demonetisation by the Government to Banking Industry.
3. Increase in Gratuity limits and making it tax free.
4. Full Tax Exemption of Leave encashement facility.
5.Appointments of Officer and Workmen nominee Directors immediately on the Boards of all Banks.
6.Early commencement of wage revision excercise.
7.Issues of Retirees(DA neutralisation to pre 2002 retirees, Family pension Revision and Pension Updation) and Pension in Present form in place of NPS.
8. Compassionate appointment on lines with Government Employees/Deptts.
9. Five days week in Banking Industry.
10. Stringent steps for recovery of NPAs.
*Action Programmes:*
1. 13th February:
Press Release to be issued.
2. 17th February:
Central demonstration in all states.
3. 22nd Feb.: Demonstrations/Rallies and Badge wearing at all centres.
4. 27th Feb.: Demonstrations during lunch hours.
5. 28th feb. :
*All India Strike*
Circular follows
*HARVINDER SINGH*"

Bank strike: One million bankers to strike work on February 28-Financial Express

All India Bank Employees Association (AIBEA) General Secretary CH Venkatachalam said the Chief Labour Commissioner of the Ministry of Labour had called for a conciliation meeting in Delhi on Tuesday morning.

All attempts to find solutions to the demands raised by the unions yielded no result. So the United Forum of Bank Unions decided to proceed with the proposed strike on February 28,” Venkatachalam said.

He said one million employees and officers of public sector banks, private banks, foreign banks, co-operative banks and regional rural banks will strike work on that day.

Proposed Levy On Cash Transaction Beyond Rs.3.00 lac

100% PENALTY WILL BE LEVIED ON CASH TRANSACTIONS IN EXCESS OF Rs.3 LACS :

In a bid to check generation of black money, a steep penalty will be levied on those accepting cash in excess of Rs 3 lacs, to settle any transaction w,e.f. 01/04/2017.

A ban on cash transaction of more than Rs 3 lacs has been proposed in the Budget for 2017-18, by inserting a proposed Section 269-ST in the Income-Tax Act, which states that "no person shall receive an amount of Rs 3 lacs or more by way of cash in aggregate from a person in a day; in respect of a single transaction; or in respect of transactions relating to one event or occasion from a person".

The penalty for doing cash transaction will be steep and the receiver will have to pay an amount equivalent to the cash received.Supposing one does a transaction of Rs 5 lacs in cash, then the penalty would be Rs 5 lacs, The penalty will be levied on the receiver. So, if someone buys an expensive item for cash, it is the shopkeeper who will have to pay the tax.

This restrictions will not apply to the government, any banking company, post office savings bank or co-operative bank.

General Secretary of Canara Bank submits on Facebook as Follows:-

dkj

Dear Canpals,

During our regular research work on the various benefits available to the officers we found out that the following is the interest structure on various loan facilities offered by the bank to the staff,

• Housing Loan – 8 %

• Two Wheeler/Car Loan – 8%

• DPN /OD – 9%

• Education Loans to staff/wards of staff – As applicable to Customer

It was further observed that

1. Recently our Bank has reduced MCLR by 70 basis points and interest rate on Housing Loans to customers has been reduced to 8.70% besides substantial reduction of interest rates on Car loans and other personal loans.

2. State Bank of India has reduced interest rate on staff housing loans and Vehicle loans to 6.5%, personal loans and Education Loans to 6.95% and Bank of Baroda has also reduced Staff Housing Loan rates to 7%.

3. On an analysis of the interest rate on staff housing loans in our Bank till 2010, for more than 2 decades interest rate has been charged at an average of 10.45% whereas average interest rate on customers was around 9.75%.

4. Only during 2010, interest rate on staff housing loan was reduced to 8%.

5. During the last couple of years interest rate on Customer Housing Loans was hovering around 9.50 to 9.90% and with effect from 7.1.2017, the same was reduced to 8.70%.

6. Base Rate/MCLR of the Bank has been fixed basing on cost of funds and accordingly whenever MCLR is reduced, the benefit is being passed on to the customers.

7. The benefit of reduction in Cost of Funds , which is 5.68% as on 31.12.2016 and reduction in MCLR as on 07.01.2017 is 8.45%, shall have to be passed on to our officers and employees also.

In view of the above we have represented to our Respected MD& CEO vide our LR. Dt.27 01 2017 to reduce the interest rates on staff loans of our officers and employees in tune with the reduction in Cost of Funds as follows:

• Housing Loan – 6.5% p.a., simple

• Vehicle Loan (For Both Cars and two wheelers) – 6.5% p.a., simple

• DPN/OD – 8% p.a., simple (Presently, interest is charged on monthly compounding basis which we request the Bank to charge it on simple basis on par with other staff loans).

• Education Loans to the staff and wards – 7% p.a., simple (Presently rates applicable to general public is charged on Educational loans availed by our staff and their wards. However, these loans are eligible for lower risk weight of 20% for capital adequacy purpose.

We the CANPALS are vigorously pursuing all steps to improve the profitability of the bank and recently announced self imposed mission of recovering the D4, loss and written off assets will certainly boost our profit figure sizeably.

We, CBOA a proactive Trade union will pursue the above listed benefits also to be settled in favour of entire staff of our bank.

DISCIPLINE IN CBOA
DEVELOPMENT IN CANARA BANK

G V Manimaran
General Secretary

Read What CVC Says on pending Corruption cases

As many as 300 cases related to corruption are pending for the last 20 years in 80 courts across the country, said central vigilance commissioner KV Chowdary, adding that around 3,500 cases have been pending for more than five years in different courts.

Mr. Chowdary said around 5,000 criminal cases booked under the IPC and Prevention of Corruption Act are pending as of now in the country.

Furthermore, he said the commission receives around 80,000 cases in a year out of which 2,000-3,000 cases involve those with actionable calls. He said the cases are forwarded to agencies such as the Central Bureau of Investigation (CBI) depending on the severity of the cases.

He said with the Prevention of Corruption Act likely to undergo amendments, it will be tough on both bribe takers as well as bribe-givers.