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.

–

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.

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.

Hats off to you Comrades Congratulations for the grand success of our two days Strike on 6th and 7th August, 2009

Salutes to all our members ! Congratulations. Once again the total unity and traditional militancy of the bank employees and officers have been so well-manifested, if at all anyone had any doubt about it. The 2 days continuous strike at the call of UFBU has been a roaring success. The participation has been so huge and massive. The turn out in the processions, rallies and demonstrations have been unprecedented. It was wholesome and overwhelming. Hats off to all our unions and members. You have done it again.

Our strike on 12th June was deferred because the IBA appeared to be positive and an agreement seemed possible. But the events thereafter have proved the designs of the Government and the bankers. Not only they went back on their offer, most shockingly, in the talks held as late as on 4-8-2009, they reduced their offer to 13%. They went back on the understandings on pension option as already agreed upon and informed further that the revised scheme on compassionate ground appointment/financial compensation scheme as mutually worked out cannot be implemented. They went back on all the issues and made a mockery of the negotiations held so far. It was obvious that the Government was calling the shots from behind. Hence, there was no alternative for the UFBU than to go ahead with the strike action. The last minute conditional offer of IBA could not be accepted by the UFBU. The employees and officers rightfully showed their resentment and anger over the IBA/Government going back on their offer and commitments. The insult and humiliation was befittingly answered by this strike.

About our strike, some newspaper editorials condemned the strike; the Corporates were furious; the Government was unhappy; the banking public were no doubt inconvenienced. But who was responsible for this ? UFBU served the strike notice on 16-7-2009. But IBA held the talks only on 4-8-2009 just one day prior to the strike. And if the bankers and Government go back on their commitments and offers, what do we do ? Can we keep quite ? Hence strike was the answer.

Our strike could not be ignored. The press and media conceded that the strike was total and full. The issue was raised both in the Lok Sabha and Rajya Sabha in the Parliament. Sri. Sanjiva Reddy, Sri. Gurudas Dasgupta, Sri. Basudev Acharya, Sri. Mulaym Singh Yadav, Smt. Sushma Swaraj, Sri. Sharad Yadav, Sri. R C Singh, Sri. Tapen Sen and many other leaders took up our cause. We are thankful to them.

Emergent Conciliation Meeting: In the background of the total resentment of the bank employees and officers and the massive success of our strike, the Government had to move in and the Chief Labour Commissioner, Ministry of Labour, Government of India convened a meeting today (07-Aug-09) at 3-00 PM in his office in Delhi.

IBA was represented by Sri Ramakrishnan, Chief Executive, Mr. Unnikrishnan, Dy. Chief Executive and Mr. Venugopal, Officer on Special Duty. UFBU was represented by leaders of our constituent unions.

In this meeting, the IBA informed that they have reconsidered the matter and made the following offer as a package:

1. Increase in wages: 17.5 % increase over the establishment expenses of Banks as on 31-3-2007.

2. New Pension Scheme to be introduced to new entrants with effect from 1-4-2010.

3. The existing PF optees may be given another option for pension as per understanding reached between IBA and UFBU on 9th June, 2009 when it was agreed that the employees would share Rs. 1800 crores out of Rs. 6000 crores funding gap identified in the joint actuarial valuation subject to the condition that at the time of the next settlement again another actuarial valuation will be carried out and the funding gap so arrived at would be shared in the ratio of 30% by the employees and 70% by the management.

4. Compassionate appointment issue would be discussed separately.

After discussing the above offer of the IBA within the UFBU meeting, it was informed to the CLC and IBA that while taking note of the offer, the Unions need further clarifications and discussions and hence suggested a bipartite meeting for the same. CLC suggested that the IBA and UFBU may hold bipartite discussions at the earliest. The date of bipartite talks will be fixed up at the earliest.

Further developments will be informed to unions and members in due course.