Bank Unions Plan strike on August 22
UFBU wants an immediate stop to moves aimed at merger of banks and their privatisation
The United Forum of Bank Unions (UFBU) has decided to strike work on August 22 against alleged attempts to destroy the banking sector. The decision was taken at a meeting of the UFBU held in Mumbai.
UFBU said that it proposes to launch other forms of agitation from July 19, the bank nationalisation day. It wants an immediate stop to moves aimed at merger of banks and their privatisation.
The Financial Resolution and Deposit Insurance Bill in its current form is another matter of contention. The UFBU wants this Bill scrapped altogether. It also opposed all ‘moves’ to write off corporate loans.
While demanding that wilful defaulters be declared as criminals, it wanted the government to implement recommendations made by the Parliamentary Standing Committee in the matter of resolving the issue of non-performing assets (NPAs).
The UFBU criticised what it called moves to pass on the NPA burden to customers in the form of service charges.
UFBU further demanded that the GST rate of 15 per cent on banking services be rolled back. Other demands included recruitment of adequate staff, amendment of Gratuity Act, and restoration of compassionate appointments in banks.
Details of Agitation Program is as follows :--
Details of Agitation Program is as follows :--
ALL INDIA BANK EMPLOYEES' ASSOCIATION
Central Office: “PRABHAT NIVAS” Regn. No.2037
Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001
Phone: 2535 1522 Fax: 4500 2191, 2535 8853 Web: www.aibea.in
e mail ~ chv.aibea@gmail.com & aibeahq@gmail.com
CIRCULAR No. 28/11/2017/11 29-6-2017
TO ALL UNITS AND MEMBERS:
Dear Comrades,
DECISIONS OF UFBU MEETING
GET READY OF FURTHER STRUGGLES
Text of UFBU Circular dt. 28-6-2017 : “ Meeting of UFBU was held today at Mumbai. Com.K.K. Nair, Chairman of UFBU presided over the meeting.
Wage Revision: The meeting deliberated on the issue of our Charter of Demands submitted to IBA and the discussions held so far. The meeting felt that the entire process of discussions should be undertaken on a recurring and continuous basis in order to complete the settlement in time. Holding meetings once in a month will not serve the purpose and hence decided to urge upon the IBA to expedite the discussions so that steps can be taken to conclude the final settlement in time.
Restrictions in negotiations: The meeting expressed its strong protest on the decision of the IBA to restrict the negotiations on Charter of Demands of Officers' Associations up to Scale-III only and demanded that as hitherto, the discussions and final Joint Note should cover all Officers up to Scale-VII inasmuch as the majority of these officers are members of their respective unions and the wage revision exercise which has been a composite one so far, should not be divided now which will create inter-scale conflicts and inequalities. It was decided to pursue the matter with the IBA, if necessary and warranted, resort to organisational programmes at the appropriate time.
Banking industry - increasing challenges: The meeting deliberated in detail about the developments taking place in the banking sector in the name of implementing the banking reforms agenda of the Government. The meeting observed that instead of taking urgent remedial measures to recover the alarmingly increasing bad loans in the Banks which are threatening to drive the Banks into a serious crisis, the steps like MOU, PCA, FRDI Bill, NPA Ordnance, IBC, etc. are only aimed to clean the Balance Sheets at the cost of the Banks which represent the hard earned savings of the people rather than to recover the money.
On the other hand, while denying the Public Sector Banks of adequate capital thus restricting their business expansion, freely licences are being given to the corporate houses to open private banks, small banks, payment banks, etc. thus weakening the Public Sector Banks. The meeting felt that very tough measures are required including criminal action on willful defaulters to recover the huge bad loans given to the corporate houses, big business and top industrialists. It was also observed that the burden of the corporate NPAs are put on the shoulders of the common public and banking clientele in the form of hike in fees, charges, penalties, etc. for every type of normal banking services.
The meeting decided to launch struggle programme on the following demands and issues:
1. Do not privatise Public Sector Banks
2. Stop plans of mergers and consolidation of Banks
3. Do not write off corporate Non-Performing Assets(NPAs)
4. Declare willful Default of Bank loans as criminal offence
5. Implement recommendations of Parliamentary Committee on recovery of NPAs
6. Ensure accountability of Top Management/Executives for bad loans and put in place stringent measures to recover bad loans.
7. Withdraw proposed FRDI Bill
8. Abolish Banks Board Bureau
9. Do not pass on the burden of corporate NPAs on bank customers by hiking charges
10. Do not increase Service Charges in the name of GST
11. Reimbursement of cost of demonetization and other Government Schemes to Banks by the Government.
12. Settle issues of Employees and Officers connected with demonetisation scheme.
13. Immediately fill up posts of Employee/Officer Director(s) in Bank(s)
14. Implement Compassionate Appointment Schemes in Banks as per Government guidelines.
15. Removal of Gratuity Ceiling under Payment of Gratuity Act, 1972 & Total Exemption of Income Tax on Gratuity and Leave Encashment on retirement
16. Pension related issues Improvements in Pension Scheme similar to RBI/Central Government including for past retirees - Extension of erstwhile Pension Scheme in banks in lieu of NPS - Follow-up of Record Note dated 25.05.2015
17. Adequate Recruitment in all cadres
PROGRAMME:
19TH JULY 2017
|
SAVE PUBLIC SECTOR BANKS’ DAY - COUNTRYWIDE RALLIES, DEMONSTRATIONS, BADGE WEARING, POSTERING
|
22ND AUG. 2017
|
ALL INDIA BANK STRIKE
|
15TH SEPT. 2017
|
MASSIVE MORCHA/RALLY IN DELHI BY 1,00,000 BANK EMPLOYEES AND OFFICERS
|
BY OCTOBER/ NOVEMBER 2017
|
2 DAYS CONTINUOUS STRIKE
|
Details of the agitational programme will be sent to you in due course of time
Comrades, on the one hand we have to settle the wage revision and achieve our demands in time and on the other we have to oppose and resist these anti-people banking reforms.
We are sure that all our Unions and entire rank and file will rise to the occasion and make the struggle and programme a GRAND SUCCESS.”
Dear Comrades, in response to the increasing challenges and offensives facing the banking sector, particularly the public sector banks, UFBU has befittingly taken the decision to unleash agitational programmes and has given the call to resist the attacks and in defence of public banking and our rights. The programme includes Mass Rallies on 19th July ( which marks the 49th Bank Nationalisation Day), All India Strike on 22nd August, Massive Morcha in Delhi on 15th September and further call for 2 Days Strike in October/November, 2017. These programmes call for special efforts to make our members aware of the attacks and to mobilise them accordingly. We exhort all our unions to move accordingly and be in the forefront of all the struggle programmes.
With greetings,
Bank employees body questions need for turnaround plan for 10 weak govt banks-LiveMint
Bank employees association seeks clarity from managements on turnaround strategy for 10 weak public sector banks identified by govt for further capitalization
The All India Bank Employees’ Association (AIBEA) has questioned the purpose of a turnaround plan for 10 weak public sector banks (PSBs) identified by the government for further capitalization.
In an internal communication, the umbrella association has directed its member unions to quiz bank managements about the futility of a three-year strategy to turn around these ailing banks, when the government and Reserve Bank of India are contemplating the merger of state-owned banks.
Separately, RBI has also invoked prompt corrective action (PCA) on a few banks including IDBI Bank, Dena Bank, Central Bank of India and Bank of Maharashtra because of the rising bad loans and negative return on assets.
Under PCA, banks are assessed on capital ratios, asset quality and profitability. Failure to meet any of the norms can trigger action such as limits on lending.
Separately, finance minister Arun Jaitley on several occasions also said India needs to create 4-5 banks of global size and scale and further consolidation in the banking sector will be done at the appropriate time. The finance ministry has also sought help of the government think-tank Niti Aayog to work out a roadmap for consolidation of PSU banks.
“The government wants to improve the performance of the banks before it looks at divestment. The turnaround strategy will only help improve valuation of these banks,” said an executive director of a mid-sized bank.
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