Wage revision will be signed at 5 PM 27th April 2010

Latest information as on 3 pm , 27 April 2010.

Instead of 1.6 of basic , 2.8 will be deducted from the arrears , only from those employee who opted pf before and now want to opt pension .

"AGREEMENT WILL BE SIGNED BETWEEN IBA & UNIONS TODAY AT 5.00 PM-AWAIT FOR DETAILS "

70% Voters are against sharing of pension load

As on 21.04.2010 , the voters clearly chosen their verdict.
we had conducted the voting titled

"should pension Load shared among bank employees? (from 33 months arrears)"

regarding the deduction in from total arrears with the 1.6 X of the basic (as per Nov 2007 basic). The 70 % bank employee voted against the proposed scheme. It is gross injustice done by IBA and UNION Leaders (Union of Cheaters) to bank employee who opted pension. This is the right time to resign from the union membership to raise your voices .

Bank Union hai hai
UFBU Hai hai
IBA hai hai

Latest complete Bank Officers salary details

Download the XLS file from below mentioned link for all your salary details needs after 9th Bipartite Settlement.

http://www.ziddu.com/download/9306604/fitmentofficers.xls.html


Bank Union Hai hai

Bank Officers are again cheated by AIBOA and AIBOC

Is this settlement we are expecting ? This time around we are confident that the junior officers have been given a raw deal and as usual they have failed to redress their grievances. We are confident that the pay increase as well as arrears for sub staff will more than the junior officers .What a shame. Now a Bank Probationary Officer is equivalent to a peon of government" and "officers at senior level are at par with clerks of government . What ridicule you made of us union leader ?. Throw these union leaders from their post the fresh/new officers must resign from the union membership otherwise we will again cheated in next settlement. This is not a pay revision but an alms to the beggar.It is better for the juniors to resign from the present unions and form a separate union as five to six years from now most of the seniors will retire .The new union should exclusively fight for better pay packets for Junior Officers which are comparable with the ones in the private sector as we do the same kind of work if not more. Come on juniors, let us unite otherwise we will be trampled by the self serving seniors who are not at all concerned about the welfare of the juniors .

Just for humer : A typical Meeting of Bank Unions with IBA

Meeting with IBA was fruitful and positive and we were able to convince IBA on certain important issues like there will a increase in cycle allowance by Rs 50.00, on other issues IBA is very adamant, talks to follow and in the next meeting issues regarding pension will be settled and regarding wage revision the talks will begin once pension issue is settled, date for next meeting will be decided latter.

Now see what happens on next meeting :

Initially meeting with IBA was fruitful and positive. We are able to convince IBA on Lunch items , they are forcing to include Bread Pakoda with tomato ketchup, Tea and Kurkure but we opposed the proposed items , our demand was Chicken tandoori , Butter Chicken Masala . because of these issues and adamant behavior of IBA the meeting was adjourned.

Ha ha ha....

Stop paying Union membership fee

This is the right time to stop paying the membership fee which is deducted from your monthly salary. The Union leaders are doing nothing good for bank employees. What we got 17.5 % hike is nothing as compared to Central government employee. from November 2007. the 10 lac bank employees are giving millions to union leaders in the name of union membership fee. Making fun of sentiments of poor employees these leaders are traveling in Airlines , visiting here and there , attending parties, eating tea and samosa from heard earned money of bank employee .

Jago yaar Jago bhut bardast karliya ....

resign from union membership.

An Appeal to serving pension optee

An appeal is made to all serving pension optee to unite & get prepared to file a writ against the pension load factor & present wage settlement. We (present employees who are pension optee) should not share pension load at any cost. Those retired in 1996 or onwards and now want to opt for pension must share the total burden. (They don’t even deserve to get 2nd option for pension because CPF was there conscious decision) We are not at fault they had taken decision to opt for CPF. They are increasing the load & as a result of which there is no compatible wage revision.
Our one step forward will save our future & dignity in the banking.
Let us unite and file a writ. Let us come forward.

Wage Revision - Poor Banker's Plight

I am an ordinary officer working in An Pubic Sector Bank in India. I am quite sure that all of you must have seen the working conditions in which we are working. No defined working hours! my day start at 9:30 am and end on 9:0 pm. I am forced like other colleagues, to work like this by our Bank's Management. For last three Sundays I have been there at the Branch and made to work by indirect pressure.

Now see my counterparts in government sector they have defined working hours and that too for five day a week schedule. All financial organizations are having five day a week schedule whether it is RBI, NIC, BSE or NSE. Than what the hell we Bankers are?? that all of us are being made to work like animals!!! while NGO like PETA is there for these Animals welfare, We don't have even that except Unwanted Unions and associations-which at there own are exploiting us.

What about our family life? I can't even avail a single holiday without efforts to see a doctor!!! What the hell I am doing this job.

Some of Bank's Respectable Union leader advised one of my colleague to leave the job if he is comfortable with the working conditions of the Bank. Look at the behavior of these irresponsible self styled leaders.

Salary!!!!! that's the word that add salts into the open wounds of every Banker. Even clerk of central govt after comfortable working conditions is having better salary that a Senior Bank officer. And our union leaders are talking about their pension (as most of them are on verge of retirement) during salary talks called 9th BPS. They were just concerned about pension and nothing more than that.

I am damn sure that none of the Banker who is actually living in worst conditions will support any of these union leaders who have sold banker's fundamental right of respectable life.

Bipartite Talks with IBA(22.01.2010)

Bipartite Talks with IBA

Another round of bipartite talks between IBA and 5 workmen Unions viz. AIBEA, NCBE, BEFI, INBEF & NOBW took place today in Mumbai. In today’s meeting, we further discussed about construction of revised pay scales, rates of annual increment, rationalisation of special pay in clerical and substaff cadre etc. There was also discussion on the proposal to club HRA and CCA to ensure equitable increase in the allowance in all areas with special emphasis on the rural and semi urban centres. Then we took up for discussion the costing of pension and submitted our view points. We also took up improvement in other allowances like Washing Allowance, Cycle Allowance, Project Area, Compensatory Allowance, Split Duty Allowance, Hill & Fuel Allowance, Halting Allowance, Breakage Allowance etc besides improvement in distance entitlement under LFC, family definition to include dependent brothers / sisters who are physically handicapped, revision in income amount to determine dependent parents, non–insisting of four days leave while availing LFC encashment, improvement in road mileage rate, sanction of 45 days special leave for women employees undergoing hysterectomy operation, upgradation of lumpsum paid part time employees to scale wages, improvement in hospitalization reimbursement scheme, inclusion of Sidha treatment for reimbursement, etc. etc. There were also some discussions on revision of duties for Single Window Operators, Head Cashiers and Special Assistants.

The calculations on cost impact of the above will be done and worked out for the purpose of finalizing the various items and components. The next round of Bipartite talks will be held on 9th February, 2010.

In today’s meeting we were informed that Punjab and Sind Bank management have also given their mandate to IBA for being governed by the proposed wage revision agreement and thus all the banks are now covered.

Earlier, at the beginning of the talks, homage was paid to the veteran leader Com. Jyoti Basu and Mr. Mohan Rao, Chief General Manager Corporation Bank and member of Negotiating Committee of IBA who had died recently by observing two minutes silence.

Bank Pay Hike Update : Details of Meeting with IBA on 28th Dec.

Further to the discussions held between the IBA and the Unions on 9 & 10th December, 2009 another round of bipartite discussions took place today at Mumbai between IBA and AIBEA / NCBE / BEFI / INBEF / NOBW. IBA was represented by their Core Committee headed by Mr. Jagdish Pai (ED, Canara Bank). All the 5 workmen unions were represented in the talks.

In today’s meeting, discussions continued on construction of pay scale, revision of special pay, allocation of cost of various items, cost of retirement benefits etc. From the unions’ side, we have emphasized that maximum possible cost to be allocated for construction of revised basic pay. Various suggestions and proposals were discussed in the meeting. However, the discussions have remained inconclusive since on some of the issues, the IBA team wanted to discuss the matter with the higher authorities before reacting to the unions.

It was decided to continue the discussions on the next round of talks for which dates will be fixed up shortly

ultimate solution for calculating arrear of Bank employee(officer, clerk,substaff etc)

Use this ultimate xls sheet to calculate the arrears of officers .

Solution for all the problem relating to arrears , new salary etc

http://www.2shared.com/file/9973081/8634e25c/Copy_of_Arrears-Worksheet-vers.html

Use this ultimate xls sheet to calculate the arrears of officers clerical and sub staff

http://www.2shared.com/file/9973131/640251a0/Bank_Arrear_2.html

Terms used in xls sheet.
FPP/FPA : Fixed personal allowance
FPP-PF /FPA-PF : Fixed personal allowance / Povident fund
PQA/PQP : Professional qualification allowance

Note : 1. Please check all the rows of "Old Basic" column of sheet "Fill Data" in Bank_Arrear 2
file.
2. After entering all the desired fields check sheet "Arrear sheet " in Bank_Arrear 2 file

Note : the results of arrears from two utilities may be different as the basic is not upto date.

New Salary of Bank PO after Wage hike

MS Office template for Bank PO's expected New Salary after 9th Bipartite Settlement

http://www.2shared.com/file/9595486/f2c0fee5/salary_as_per_9th_bipartite_se.html


MS Office template for Bank PO's old Salary before 9th Bipartite Settlement

http://www.2shared.com/file/9595490/2b86a91/salary_as_per_8th_bipartite_se.html

Just change your Basic and according to annual increment for Bank Officers .

MINUTES OF THE DISCUSSSIONS HELD ON 27th NOVEMBER 2009

MINUTES OF THE DISCUSSSIONS HELD

ON 27^th NOVEMBER 2009 between

IBA representing Management of Banks which are parties to the

Bipartite settlement and the Four Officers’ Association

viz., AIBOC, AIBOA, INBOC & NOBO on wage revision

Discussions were held between the Indian Banks’ Association representing management of Banks and the authorized representatives of Four Officers’ Associations viz., All India Bank Officers Confederation, All India Bank Officers’ Association, Indian National Bank Officers’ Congress and National Organization of Bank Officers 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 1.11.2007

2. The annual wage increase will be Rs.2239 crores

3. The additional cost of pension on account of wage revision in excess of statutory contribution of 10% of pay will be shared equally between management and employees [13% of pay each] and the share of employees so calculated will be deducted from the agreed wage increase while revising salary and allowances.

4. All other issues of the Management and Association discussed during the process of negotiation will be settled to the mutual satisfaction.

5. The parties will meet on mutually convenient dates to draw out a detailed Joint Note on the various issues on which consensus positions have been reached. The parties will endeavour to finalise the Joint Note within a period of ninety days from the date of this minute.

Signed on Mumbai on 27^th November 2009

for MANAGEMENT For OFFICERS’ ASSOCIATION

/sd/ /sd/ AIBOC / AIBOA/INBOC/NOBO

CONGRATS & RED SALUTES

CONGRATS & RED SALUTES

– UFBU SIGNS MINUTES WITH IBA

– ANNUAL WAGE INCREASE OF RS. 4816 CRORES FROM 1-11-2007

– ONE MORE OPTION FOR PENSION ACHIEVED

WE DEDICATE THIS ACHIEVEMENT TO THE MEMORY OF

COM. PRABHAT KAR ON HIS 25TH DEATH ANNIVERSARY DAY

Yes, today, 27-11-2009, is the 25th death anniversary of our great leader and doyen of

bank employees trade union movement, Com. Prabhat Kar. On this solemn day and during

the centenary year of this father of our movement, we deem it a befitting commemoration

and tribute to his life-long pioneering role in shaping up the service conditions of bank

employees that the Minutes have been signed with the IBA on our wage revision demand

and more importantly, securing another option for more than 3 lacs of

employees/officers/retirees to get the benefit of our unique pension scheme.

Salient features:

a) Annual wage increase of Rs. 4816 crores (Rs. 2239 crores for officers and Rs. 2576

crores for workmen employees) w.e.f. 1-11-2007.

b) All the existing employees who are now in PF scheme will be given an option to join the

existing pension scheme.

c) All those who have retired after the date of Pension Regulations till date will also be

given an option to join the pension scheme.

d) Full settlement on the above to be finalized within 90 days.

__________7th BPS ______ 8th _______ BPS NOW

Additional annual wage load 12.25 % 13.30 % 17.50 %

Total quantum of annual wage 1497 crores 2200 crores 4816 crores

increase (Officers & Workmen)

Annual Average Per Capita Increase:

Ø For Workmen employees 12,550 23,300 56,200

Ø For Officers 24,025 43,600 91,800

ONE MORE OPTION TO JOIN PENSION SCHEME- A UNIQUE ACHIEVEMENT:

– In 1993, after bitter struggles and against all odds, AIBEA and AIBOA achieved

pension scheme for bank employees. Today, once again, with the leading role of

AIBEA and AIBOA, another milestone has been anchored. More than 3 lacs bank

employees, officers and retirees will now get another option to join the pension

scheme to insulate themselves with this unique social security benefit. It is a very

commendable achievement indeed.

–

MOU SIGNED BETWEEN IBA & UFBU

CONGRATULATIONS TO ALL OF YOU FOR UNIQUE DISPLAY OF UNITY. MOU SIGNED BETWEEN UFBU & IBA ON WAGE REVISION SETTLEMENT & PENSION OPTION. WAGE REVISION 17.5%, PENSION TO ALL - COST SHARING 70:30, FINALISATION OF SETTLEMENT & ARREARS PAYMENT SHALL BE WITHIN 90 DAYS. DETAILS FOLLOW

BA, bank union to meet over wage revision

KOLKATA: The Indian Banks' Association (IBA) and United Forum of Bank Unions (UFBU) have agreed to meet on November 27 to take the wage bipartite

talks forward. Over 7 lakh public sector bank employees will keenly wait for the outcome of the meeting. Wage revision for them is due from November 2007.

Incidentally, both negotiating parties have agreed on a 17.5% wage hike. They have also in principle agreed to offer monthly pension to 2.66 bank employees, who did not opt for it in 1993. But their last meeting in the final week of September remained inconclusive as they could not arrive at the accounting methodology of pension.

"Issues like accounting for the cost of pension and the cost sharing arrangement between bank management and employees, the proposed introduction of New Pension Scheme (NPS) and variable pay are some issues that need to be resolved," said All India Bank Employees Association (AIBEA) president Rajen Nagar.

UFBU -- the umbrella organization for nine leading bank unions -- is not also comfortable with IBA’s proposal to introduce NPS for bankers joining after April 2010.

IBA and UFBU jointly finalise the pay hike plans for public sector bank employees. Talks on the eighth bipartite meeting has been on for quite sometime now. Public sector banks including State Bank of India have 2.44 lakh officers and 4.68 lakh workmen employees who are awaiting a wage revision now.

Bank Wage Revision : Are the Unions leaders in backfoot ?

Still there is no news about the next date of talks with IBA as it appears IBA wants to wear out these retired union leaders who are not in touch with the mood of the general employees and officers. IBA is trying that by delaying the next around of talks to the maximum extent possible they will frustrate these leaders who will be forced to sign on dotted lines. Union leaders are not at a bargaining advantage at this stage, as they have failed to get an honourable settlement at appropriate time due to their own politics.

The best time to get a reasonable settlement was around November 2007, when the new settlement had become due. At that time communists shared power with the government (most of bank unions are affiliated with communist parties) and elections were around the corner. Central Government employees were able to extract the maximum by hitting at the right time.

It is surprising that Bankers are frequently asked by Communists to go on strike on issues which are their personal agendas and not wage settlement or improvement in working conditions of the employees. They ask Bank union leaders to go on strike on petty issues which are related purely to their politics. However, we have never heard any communist leader either on TV or newspaper, wherein they come openly to support an honourable settlement for bank employees or ask for All India strike in favour of bank employees.

Do you remember when did the last time any communist leader (like Somnath Chatterjee, Karat Parkash , SitaRam Yechury) has given any statement in favour of bank employees or taken up this cause with Finance Minister or Prime Minister or spoken about the same in Parliament? Do you remember any contribution of communist leaders for better pay for bank employees when they shared power for over four years with Congress Government? Did they ever made any strong (we are not even aware of weak) speech in Lok Sabha or Rajya Sabha in favour of pay parity of bank employees with Central Government employees? Answer to all these are in negative. However, all these MPs ensued that their salaries and perks are increased manifold.

However, sensing the mood of the bankers, unions are now desperately trying to face save themselves and issue statements as if negotiations are going on with IBA. Therefore, they meet among themselves issue statements giving impressions to gullible bankers as if matters are under strong discussions with IBA. It is heard that a meeting of the UFBU was held on 4/11/2009, at Chennai. Com P S Pillai (President, BEFI) presided over the meeting. The following decisions were taken by UFBU:The meeting took note of the negative approach of the Government in relation to the revised scheme of compassionate ground appointment / financial compensation to the family of the employees dying in harness and felt that the scheme as discussed and finalized between UFBU and IBA should be got expedited.In respect of condition of the IBA that the entire cost of pension arising out of the wage revision to be adjusted from the proposed wage revision and that in the next settlement again another actuarial valuation should be carried out and the gap should be funded by employees sharing the same, after detailed discussions, the UFBU while rejecting the above conditions, expressed its view that the additional pension cost can be adjusted by sharing a portion of the same as was done in the 7th and 8th bipartite wage revision.In respect of IBA’s condition that a new contributory pension scheme should be accepted by the unions from 1-4-2010 as a pre-condition for extending one more option for pension scheme, the UFBU felt that a mutually acceptable solution should be worked out to resolve the same as unilateral imposition of such conditions are not acceptable.In respect of IBA’s suggestion for introduction of the concept of fixed pay and variable pay for bank employees / officers, UFBU decided not to accept the proposal.Based on the above, the meeting decided to pursue the issues with the IBA during the next round of talks to be held shortly and to expedite the conclusions as early as possible.

No union leader has the courage to respond to the numerous queries of the bankers who are anxiously waiting for honourable settlement.

(These analysis is made by a bank employee, debates are welcome in this issue. Publisher of this blog is neither in favour nor against of the opinion)

UFBU Meeting on 04-11-09

A meeting of the UFBU was held today (04-11-09) in Chennai. Com P S Pillai (President, BEFI) presided over the meeting.

1. The meeting took note of the negative approach of the Government in relation to the revised scheme of compassionate ground appointment/financial compensation to the family of the employees dying in harness and felt that the scheme as discussed and finalized between UFBU and IBA should be got expedited.

2. As regards the condition of the IBA that the entire cost of pension arising out of the wage revision to be adjusted from the proposed wage revision and that in the next settlement again another actuarial valuation should be carried out and the gap should be funded by employees sharing the same, after detailed discussions, the UFBU while rejecting the above conditions, expressed its view that the additional pension cost can be adjusted by sharing a portion of the same as was done in the 7th and 8th bipartite wage revision.

3. Regarding IBA’s condition that a new contributory pension scheme should be accepted by the unions from 1-4-2010 as a pre-condition for extending one more option for pension scheme, the UFBU felt that a mutually acceptable solution should be worked out to resolve the same as unilateral imposition of such conditions are not acceptable.

4. Regarding IBA’s suggestion for introduction of the concept of fixed pay and variable pay for bank employees/officers, UFBU decided not to accept the proposal.

Based on the above, the meeting decided to pursue the issues with the IBA during the next round of talks to be held shortly and to expedite the conclusions as early as possible.

Comrades, we are aware that speculations and rumours are being circulated here and there which are only adding to the anxieties of the membership. Hence UFBU appeals to all units and members not to fall a prey for such propaganda and close up the ranks at this crucial juncture when all attempts are being made by the UFBU to expedite the settlement.

SBI earnings climb by 10%

MUMBAI: State Bank of India, the nation’s largest, said quarterly earnings climbed 10% on gains from bonds and currency trading even as its profits from lending to companies and individuals fell. Bad loans rose. Net profit advanced to Rs 2490 crore in the September quarter matching estimates, from Rs 2260 crore a year earlier, the bank said in a statement.

A survey of analysts forecast showed its net profit may rise to Rs 2460 cr. "The performance would have been much better had it not been for the huge liquidity overhang, additional provisions for pensions and wage settlement," said O.P. Bhatt, the chairman of the bank. State Bank of India is fighting a deluge of deposits rush after the collapse of Lehman Brother Holdings led to a run on many banks which were seen weak.

The reduction of benchmark rates by the Reserve Bank of India to beat the credit crisis has brought down the lending rates for borrowers, but the banks, especially public sector ones, were not able to reduce deposit rates proportionately leading to pressure on their profitability. Also, the relaxation of bad loan norms to fight the credit crisis is coming home to roost.

"State Bank of India is a barometer of the Indian economy, and if the economy does well, so should State Bank, especially given its wide presence," said Sandesh Kirkire, chief executive officer of Kotak Mahindra Asset Management Co., which manages 380 billion rupees in Mumbai. "All indicators of the economy point to a revival and SBI should benefit directly from it," press reported Kirkire as saying.

Treasury profits rose 236% to Rs 545 crore from Rs 162 crore while profit from core fee income, i.e., commissions and brokerages, rose 58% to Rs 2103 crore, from Rs 1331 crore a year earlier, the bank said. But the lending business has not improved to the pre-credit crisis levels even as the central bank has cut its loans growth for the fiscal year to 18% from 20% earlier.

Its pre-tax profits from corporate lending fell 10.4% to 1,408 croers in the September quarter, from 1,573 crores a year earlier. So was the case with retail lending where pre-tax profits fell 27 % to Rs. 1703 crores from Rs. 2,337 crores a year earlier, according to the statement.

The stress in the economy despite the credit easing measures is reflected in rising bad loans of the bank. Gross non-performing assets, or NPA, rose to 2.99% in September ‘09 quarter, from 2.79% in the preceeding quarter. The incremental retail NPAs accounted for 44% of total incremental NPA.

The bank has provided Rs 7449 crore crore for bad loan on its gross NPA of Rs 17,376 crore. Its provision coverage ratio (PCR) stood at 42.8%. Mr Bhatt said that if RBI’s norm that all banks should have PCR of 70% is to be adhered, the bank will have to make additional provision of Rs 5,000 crore.

The bank’s NPA has increased by Rs 1662 crore in six months ending September 09. Deposits rose 25%, despite its attempts to stem the flow by lowering the interest rates. The deposits rose by Rs 9341 crore in second quarter compared to Rs 67,000 crore in the first quarter when investors fled for safety. The share of low cost deposits stood at 40.9% against 39.7% a year ago. Loans were at Rs 580,237 crore, growing 16% from a year ago.

Government betrayed Bank Employees

CHANDIGARH: The Government has betrayed 10 lacks bank employees of the country. Bank employees wage revision was due in November, 2007.In the last two year number of negotiation meetings took place.

On 9th June IBA offered 17.5% wage revision and one more option of pension to bank employees. Unions were demanding 20% plus for wage revision and one more option of pension. First time in the history of banking and wage negotiations Govt. reduced their offer from 17.5% to 15 and then 13%.

After observing two days strike on 6th and 7th August, 2009 Govt. restored their offer of 17.5% but put some more conditions like implementation of New Pension Scheme from 1.4.2010 for one more option of Pension Unions opposed it. In the last round of negotiation held on 24th September, 2009 IBA brought some more management issues like outsourcing and performance linked wages which were also rejected by the unions. Unions also protested against the IBA’s demand for sharing of deficit in Pension Fund during the next wage revision and thereafter no meeting took place.

Before Deepawali Govt. through Electronic and Print media gave the signal that they will settle the issues of bank employees and they will get wage revision before Deepawali. Through these signals Govt. took advantage in elections in three States. But no real efforts were made by the Govt. to settle the issues.

Sharing of deficit in Pension Fund during the next wage revision issue is pending with the Finance ministry. NOBW demands that Govt. should keep its word and settle the issues.