WHERE DO WE STAND VIS-À-VIS CENTRAL GOVERNMENT STAFF?
Unfortunately, our own comrades cite the mounting NPAs and the consequential lower profits as the valid reason for the inability of the banks to pay more to their staff. I give hereunder certain statistics to refute the above argument and to buttress my case.
Fiscal Deficit:
http://www.moneycontrol.com/news/features/indias-deficit-test-doable-after-all_1269703.html
http://www.financialexpress.com/article/economy/fiscal-deficit-in-apr-nov-touches-99-pc-of-budget-estimate/24959/
http://www.financialexpress.com/article/economy/fiscal-deficit-in-april-november-hits-99-of-budget-estimate/24978/
As per this, the fiscal deficit of the country at the end of November, 2014 was Rs.5,25,134 crores (for 8 months period). At the end of March, 2015, it is expected to cross Rs.6,79,272 crores or 5.24% of GDP (if GDP falls short of the target, then in percentage terms, the fiscal deficit may touch 5.36%). It may be recalled that the Budget Estimate of Fiscal Deficit for 2014-15 was Rs.531,177 crores.
Revenue Deficit:
http://www.financialexpress.com/article/economy/fiscal-deficit-in-april-november-hits-99-of-budget-estimate/24978/
The data showed that the revenue deficit during the period of first 8 months of 2014-15 was Rs.411,075 crores or 108.6% of the BE. At the end of March, 2015, the revenue deficit may touch Rs.6,16,612 crores, as against the budget estimate of Rs.373,848 crores.
Taxes unrecovered:
http://www.business-standard.com/article/economy-policy/rs-2-lakh-crore-tax-dues-cannot-be-recovered-113042900444_1.html
It is officially reported that Rs.5,86,002 crores of taxes are yet to be recovered and a substantial portion of them is locked up in disputes. Nearly, 5% of them are irrecoverable too, because the assessees are not traceable.
In the above backdrop, central government employees earn 40% higher salaries than bankers and enjoy much better service conditions and living conditions. Thus it is clear that there is no correlation between the financial health of an organization and its paying capacity.
Now, you tell me. Don’t bank staff who shoulder greater risks and responsibilities deserve a hike of not less than 50% in their salaries?
Or at least parity with central government staff in salaries and all other service conditions?
Date: 16-01-2015 pannvalan
Showing posts with label 5 days week. Show all posts
Showing posts with label 5 days week. Show all posts
Friday, January 16, 2015
Thursday, July 10, 2014
Letter To FM For 5 Days Week
E-Mail: unionbalu@yahoo.co.in, gsnube@gmail.com Phone : 044-28523392 / 28523561
Fax : 044-28522969; Res: 044-23643456
NATIONAL UNION OF BANK EMPLOYEES
(Regd No.3415 / CNI dated 29-07-2011)
Administrative Office: 763, Anna Salai, Chennai – 600 002.
Shri.Dr.Gurdial Singh Sandhu Date : 12-05-2014
Secretary, Department of Financial Services
Ministry of Finance
Dear Sir,
FIVE DAYS WORKING IN A WEEK IN BANKS IN INDIA
REF: OUR LETTER DATED 23-02-2012 & 08-12-2012
We had vide our letters dated 23-02-2012 & 08-12-2012, requested the Government and IBA to consider our demand for 5 day week in tune with global 5 days scenario as under:
Banks in India, are moving towards the trends prevalent in the developed part of the world, where, customers are encouraged to do their routine banking chores, through alternate banking channels, like Net Banking, ATMs, Mobile Bankings, etc. and visiting “brick and mortar” bank branches are discouraged, barring urgent situations and compliance to this is achieved by imposing charges for transactions done at bank branches, after few free transactions.
The unanimous view of the Central Committee of our Union is that, in the light of the revolutionary changes that have taken place as regards the technology initiative, such as tele-banking, internet banking, core banking, any time banking, anywhere banking etc. and also the banking expansion through a large ATM net work, there is a strong case for immediate consideration of the demand of the NUBE for introduction of 5 day week by the Indian Banks’ Association. There are several strong grounds, apart from the infrastructure now created by the Banking Industry which will not cause any harm to the customers in case 5 day week is introduced in the Banking Industry. The first and foremost reason is, the country will be saving a lot of natural resources by way of reduction in the use of fuel by lakhs of employees working in the Banking Industry, since they depend upon their own personal vehicles to attend office. This will also reduce global warming to an extent. Further, 5 day week will provide good health to bank employees who are toiling without any rest for almost 14 to 16 hours a day on account of increased workload and business growth. The reduction of 2 hours of business on Saturday does not affect customers as almost all Banks have increased business hours by two hours per day from Monday to Friday.
At present all Central government establishments, RBI, Forex Department, Parliament, State Assemblies, Treasury, IT/BT industries and Western Countries observe 5 day week. Majority of State government offices remain closed on Second Saturday of the month. Therefore Banking Industry switching over to 5 day week will not make much difference to routine business. Introduction of 5 day week has benefits as it will go a long way in further strengthening our Banking Industry and delivering better results to the people of the country.
With the introduction of technology in the banking sector, basic Banking services are today available 24X7; RBI, Central Government, State Governments, Insurance Sector, Financial Market, Stock Exchange, Foreign Exchange Markets, etc. are closed on Saturdays and Sundays without causing any major inconvenience to general public at large.
With the increased need for canvassing business, marketing, follow-up recovery, etc. one weekday off is inadequate and there is genuine need to introduce 5 Day banking for the Banks. The matter brooks no delay. In pursuance of the aforesaid logic we adduce the following justifications and once again submit a memorandum of the five day week charter, which was submitted by us earlier, which kindly consider objectively.
The memorandum earlier submitted by us enclosed herewith received wide coverage in many sites in the internet, social media and leading news dailies and Bank employees are eagerly awaiting a just response of our genuine, objective demand.
The following sites have heralded the memorandum and uploaded the same in their sites in public domain acknowledging the initiative of NUBE:
- www.bankingonly.com/detail-news.php?news_id=4985
- http://mitalismusings.blogspot.in/2012/12/5-day-weeks-in-indian-banks-nisusgets.html
- http://www.allbankingsolutions.com/Wage-Revision/5-days-week/5-days-week-NUBE-detailed-note.pdf
- http://www.financialexpress.com/news/bank-employees-push-for-5day-week-write-to-govt/1044399
- http://paycommissionupdate.blogspot.in/2012/12/bankers-demand-5-days-week-nube.html
- http://90paisa.blogspot.in/2012/12/bankers-demand-5-days-week-nube.html
- http://importantbankingnews.blogspot.in/2012/12/awareness-about-demand-of-5-days-week.html
- http://www.govtempdiary.com/2012/12/5-days-week-in-bank/
- http://centralgovernmentstaffnews.blogspot.in/2012/12/bankers-demand-5-days-week-nube.html
- http://satish24k.blogspot.in/2012/12/bankers-demand-5-days-week-nube.html
- http://banknewskumar.blogspot.in/2012/12/why-5-days-week-must-in-banking-sector.html
- http://uyo.me/post/Day-to-Day_Banking
- http://bestsearching.com/index.cfm?category=Web&find=Five%20Day%20Week%20Banks%2001%2006%202012
- http://www.scribd.com/doc/116183697/5-Days-Week-in-Bank
- http://www.centralgovernmentnews.com/bankers-demand-5-days-week-nube-submitted-memorandum/
- http://centralgovernmentstaffnews.blogspot.in/2012/12/bankers-demand-5-days-week-nube.html
- http://www.facebook.com/pages/Indian-Overseas-BANK-Employees/145436728933607
- http://www.paycommissionupdate.blogspot.in/2012/12/bankers-demand-5-days-week-nube.html
- https://docs.google.com/file/d/0B_xbR7CgIQiNZE5ILTd3YmZ3STQ/edit?pli=1
- http://bankingonly.com/news/5-day-week-demanded-by-national-union-of-bank-employees-with-133-pages-justifications_4985.html
- http://www.thehindubusinessline.com/industry-and-economy/banking/bank-unions-demand-5day-week/article5411162.ece
Even as early as September 16, 2003, There was a press news titled 5 day week for banks on the card wherein the then IBA Chief Executive Sri.H.N.Sinor said "With most markets closed on Saturdays, it does not make sense to keep Banks open. Banks can work five days a week but for longer hours." The apex bankers' body will hold discussions with various trade bodies on this issue and approach state governments to cut the number of bank holidays recognised under the Negotiable Instruments Act. Under the proposal, Banks across the country will remain closed only on three days a year – January 26, August 15 and October 2. “Banks are now closed on Diwali, Id and all other religious festivals. We want to convert these holidays into sectional holidays, Sinor pointed out. This essentially means that employees belonging to a particular community will be able to take leave on those days but banks will remain open.
IBA will discuss the proposal with the Confederation of Indian Industry, Federation of Indian Chambers of Commerce and Industry and other business associations, which have been demanding abolition of frequent bank holidays. If they have no problem with the proposal, the bankers' body will take it up with the finance ministry as well as the state governments. With most banks working 24 hours a day through ATMs and other channels, a five-day week may not face much resistance from the public. Banks will, however, continue to have the freedom to keep some of their branches open on Saturdays and even on Sundays, depending on local needs.” (http://www.rediff.com/money/2003/sep/16banks.htm).
We understand from the media that your department/ IBA is favourably inclined to evaluate the demand after objective analysis as appearing in Business Standard, 21st April, 2014 and in The Hindu Business Line dated 18th April, 2014.
(see:http://www.business-standard.com/article/finance/call-for-5-day-week-for-state-banks resurfaces-114042100053_1.html & http://www.thehindubusinessline.com/companies/public-sector-bankers-plan-to-ask-finance-ministry-for-5day week/article 5926262.ece)
We look forward to an early resolution of this long pending demand as per global traditions and/or as being implemented in other establishment of Government.
We underscore once again the following positive benefits of a 5 days week culture:
Ø Reduced fuel costs
Ø Increased productivity
Ø Reduced personnel turnover
Ø Improved work-life balance
Ø Reduced traffic congestion
|
Ø Decreased absenteeism
Ø Improved job satisfaction and morale
Ø Reduced energy costs
Ø Less Disability Claims. As stress falls, so might disability claims
Ø Savings in Bank and Nations exchequer
|
Our Memorandum :
In the light of aforesaid facts, we are hopeful that our justifications in the enclosed booklet memorandum submitted by us earlier as mentioned above would be viewed with fresh perspective in the larger interest of the country enclosed to this letter.
Awaiting your favorable response.
Thanking you, Yours faithfully,
 |
Encl : Our Memorandum Booklet –on 5 Day week in Banks
(L.BALASUBRAMANIAN)
Cc to : The Chairman, Indian Banks’ Association, Mumbai. GENERAL SECRETARY
Sri.M.V.Tanksale, Chief Executive, Indian Banks’ Association, Mumbai.
Sri.K.Unnikrishnan, Deputy Chief Executive, Indian Banks’ Association, Mumbai.
Monday, July 7, 2014
Genuine Demand For 10th Bipartite Settlement
10th Bipartite Settlement – Salary Revision / 5 Days Banking – Genuine Demand of Bankers- source BANKJOBSINDIA.NET
Introduction
The process of revising wages in the banking sector takes place once every 5 years and is done with mutual discussion between high command of bank employee unions UFBU (United Federation of Bank Unions) and high command of Bank Managements IBA (Indian Banks Associations). This process started in late 60’s and has seen 9 settlements signed to revise wages till 2010. The 10th bipartite settlement is due from 2012 November, and it does not seem like it will be signed soon, though 20 months have passed after the due date. Industry experts believe that this agreement may be signed on 2015 April, almost 2 1/2 years after due date. Till it is signed bankers will get the old wages i.e. the wages agreed for 2007-2012. Once, the tenth bipartite settlement is signed, the difference between old and new wage bill is given to bank employees as salary arrears.
Why Delay – The Real Reasons
• Central Government and IBA delay this settlement along with UFBU for making monetary gains, if settlement is delayed for a long time, bankers will get a big amount as salary arrears and this will increase the amount of tax they have to pay. Thus, it gives more tax revenue to the central government.
• For banks, this delay gets them an interest free recurring deposit i.e. In case banks do not delay settlement, they has to pay interest if they want the employees to deposit the extra amount they get every month due to new wages. But by delaying settlement and giving out arrears without interest they make huge profit.
• Though UFBU has the role to work against this delay, but they are full of people who don’t act in the right way. They are not ready to take severe actions like doing strike for a week or two during year end and quarter end. They also don’t do their strikes in a star hotel with press support. They do strikes in the roadsides and it does not make a strong impact.
• Most of youngsters don’t participate in strikes because of this and they plan for tours during strike and treat them as a leave without manager’s permission. In addition to this, these people who head the unions did not even submit their demands well before due date.
In short, UFBU leadership is not good and it’s time for a change. The central government and IBA were making full use of this situation to deny justice for bankers.
Expected Salary
The current scenario doesn’t look greener for bankers and thus to be practical the salary may be anywhere around Rs 50,000 take home for officers and Rs 25,000 take home for clerks, if the nightmares comes true. With 7th pay commission on the way, even a central government clerk will get more pay than Bank PO if the central government does not give justice to the sector. Though many bankers are hoping against the hope and continue to believe that the finance ministry will give them justice. If the same happens then the take home salary of bank officers will be Rs 70,000 and that of clerks will be Rs 35,000 . But practically, the pay is expected to be in between both the extreme cases. Thus, the take home pay of a probationary officer may be Rs 60,000 and that of a clerk may be Rs 30,000 after this settlement.
The proposal of scale merger may benefit officers at lower levels. This proposal intends to merge the first four scales (JMGS I, MMGS II, MMGS III, SMGS IV) of officer cadre in to one scale in the name of manager cadre and the next three scales (SMGS V, TEGS VI, TEGS VII) of officer cadre in to one scale in the name of executive cadre. If this happens, then the salary of JMGS I and SMGS V may go up considerably at the cost of other officers. Thus, it may increase the salary of probationary officer who comes under JMGS I.
5 Day Week
The concept of 5 day week is implemented in many countries. In India, it is implemented in RBI and many other government sectors. Bankers have been demanding this from the year 2000, but practically speaking getting five day week in banks doesn’t seem to happen even though it is a very reasonable demand. This is because, many business men in India are not ready to take the risk of having cash and they like to see the bank open even in Sundays and on festivals like Diwali. Also, the central government does not seem to give any justice for bankers in this regard. We (Bankers) need to take some strong steps and gather public support by educating them, if we want to get five day week. But again the old union leadership does not look like taking such aggressive steps. Thus, five day week is only a day dream.
Over Time
The concept of paying overtime is a labor law in many countries. Many developed countries ask employers to pay overtime pay if the employee works more than 40 hours a week. The over time rate is normally two to three times the normal pay, but this concept is not there in India as a law. Thus, many employers exploit employees by asking them to stay in the office for long hours. Public sector banks are no exception for this culture. Most managers have the wrong mentality that sitting late shows dedication and going home early is a crime. Thus, the unions have demanded overtime wages and a compensatory leave for working beyond the stipulated working hours. This will really boost the work life balance and salary of bank employees especially officers. But the chance of getting this demand amidst a poor effort from the old union leadership is low.
Pension
The bank unions have demanded pension with 100 percent neutralization of dearness allowance for all employees. This may be approved by the government. The bank unions also have asked the management to get back the controversial New Pension Scheme (NPS) and replace it with the old pension system. But this demand is not given much importance since the NPS affects only those who joined after the year 2010. Most of the union leaders are old so practically they won’t care for younger employees much. Thus, NPS is here to stay.
House Rent Allowance, Medical Facilities and Other perks
The Unions has asked for a big rise in the perks because of high inflation and the increase in the cost of obtaining these facilities. Though, the increase on this part of the salary may go hand in hand with the hike in cash component. If management gives a very good hike in the perks unions might agree for a low hike in cash component and vice versa.
Conclusion
Though the future is very bright for the young bankers, the overall picture is average at present and bankers need to stay awake to get a good settlement. The situation is worse for the youngsters at least till the retired employees are taken away from union leadership by protesting strongly against them.
 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|---|
Subscribe to:
Posts (Atom)