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Long wait is over! Finally it is official! 2nd and 4thSaturday Holiday is
Effective from 01.09.2015.
Finance Ministry,
Govt. Of India Today issued notification to this effect.

Tuesday, September 1, 2015

L.I.C enter into its 60th, Diamond Jubilee year!!



Life Insurance Corporation of India nationalized in September 1st, 1956.

Some Statistics About L.I.C.:
Government Capital= Rs. 5 crore (only)
Policy Holders           = 30 crores
Asset                           = Rs.20.31 lac crores
Dividend paid to Govt.,= For 2014-15 is Rs.1803 crores
                                             From 2001 to 2015 = Rs.13000+ crores
(Can you image this much huge dividend for 5 crore capital)
Settlement of Death claims = 99.51%
Settlement of Maturity claims= 99.78%
Market Share (even after entrance of private companies)=78%
Investment in Govt., Bonds and Social Schemes=Rs. 12.86 lac crores.
Employees : More than 1,25,000 and Agents more than 12 lacs.
Govt. wants to privatise this “Golden Egg yielding Goose” to private corporates.
One of the demands of Sep 2nd, 2015 strike is “Don’t privatise  L.I.C. “

Saturday, August 29, 2015

Sep 2nd, 2015 Strike:update:

Despite a softening of stand by the government, 10 of the 11 Central trade unions on Friday decided to go ahead with a country wide strike on September 2.
RSS-affiliated Bharatiya Mazdoor Sangh is understood to have called for deferring the strike in order to let the government deliver on its promises.
“Trade unions will go ahead with September 2 strike,” said INTUC president G
 Sanjeeva Reddy after a three-hour long meeting of union leaders.
“BMS has opted out of the strike and has requested all the 10 trade unions to reconsider their stand as they want the government to try and work on their promises. But all the other trade unions have decided to go ahead with the strike,” said AK Padmanabhan, president, Centre of Indian Trade Unions (CITU).
=>Indian Express.
Now, it is understand that Five unions out of 9 unions in UFBU will participate
in the September 2nd, 2015 Strike.
The Reserve Bank of India (RBI) on Friday said payment systems will not be operated on second and fourth Saturdays but would operate for full day on working Saturdays.
Payment systems typically includes Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT), Cheque Clearing operated by various Bankers' Clearing Houses in the country including the grid based Cheque Truncation System (CTS) and ECS suite Electronic Clearing Service (ECS), Regional Electronic Clearing Service (RECS) and National Electronic Clearing Service (NECS).

Processing of future value dated transactions with value date falling on second and fourth Saturdays will not be undertaken under RTGS and ECS suite.

Last Half day working Saturday

Friday, August 28, 2015

This Blog is fast approaching One Crore Hits!

Few words at a time, my Blog is fast approaching One Crore Hits!
My Face Book page has more than 12000 likes/ followers.
It is an open ID, hence comrades can read without marking a like also. Hence total reach (of face book page) can’t be counted. It has maximum participation by comrades by way of like/comment/share among Banking oriented face book pages.  

My objective is to pass on all the information,
Whatever I am receiving /reading , thro e-mail and from websites of all unions. 
I am answering doubts/queries raised by comrades with my little knowledge( read from settlements and various circulars.)  and from my experience. I am posting only authentic news.

Union websites serve one way communication only.
Comrades want to express their view on various issues.
Hence I decided to start a platform for two way communication.
That is the birth of Indian Bank Kumar BLOG/face book page.

I started my Blog in Sep 2010. My blog may not look perfect in designing or look.
With my little practical knowledge in computer, by trial and error, I am managing the blog. Initially very few comrades follow and read.
Slowly it picks up, that too, after November 2012, as the 10th B.P.S talks started.

On reading the comments posted so far,I wish to appeal you to
Read the history of trade union movement, 
Read circulars, 
Attend union meetings, 
Attend Dharnas/Demos, 
Know Labour laws/provisions
Avoid ill conceived/motivated mind set on unions, 

Strike on 2nd Sep 2015

Strike on 2nd Sep, 2015:
Govt assured on Bonus enhancement, Wages formula etc.,
The offer has not met the expectations of the majority of trade unions barring the RSS/BJP-affiliated Bharatiya Mazdoor Sangh. All the 12 central trade unions will meet again today (Friday) to take a view on the government's latest proposal after which a final decision on the upcoming strike will be taken. 

Press Information Bureau
Government of India
Ministry of Labour & Employment

27-August-2015 21:05 IST

Inter Ministerial Committee Holds Wider Consultations with Trade Unions on Charter of Demands Appeals to Reconsider Proposed Call for Strike in View of Discussions

The Second meeting of Inter-Ministerial Committee (IMC) continued discussion on 12 Demands Charter of Trade Unions for the second day here today in continuation of discussions held yesterday. The Committee comprises Shri Arun Jaitley, Finance Minister, Shri Bandaru Dattatreya, MoS(IC) Labour and Employment, Shri Dharmendra Pradhan, MOS(IC) Petroleum and Natural Gas, Shri Jitendra Singh, MoS DOPT, and Shri Piyush Goel, MoS (IC),Power. During the discussions Trade Unions expressed concern and asked for clarifications on their demands. Addressing their concerns and expectations, the Finance Minister explained policies on which the Government is working and assured that the Government is committed to welfare of labour. Underlining the importance of role of Trade Unions, Shri Jaitely assured the Central Trade Unions that all labour laws reforms will be done with due discussions and tripartite consultations.

In view of the discussions held in conducive and cordial atmosphere, the IMC appealed to Trade Unions to reconsider the proposed call for strike on 2nd September, 2015.The Trade Unions have agreed to consider the appeal.

In view of the suggestions given by Central Trade Unions in the meetings held on 19th July, 26th August and 27th August, 2015, the Government assured the following :

1. Appropriate legislation for making formula based minimum wages mandatory and applicable to all employees across the country.

2. For the purposes of bonus the wage eligibility limit and calculation ceiling would be appropriately revised. Earlier in 2006-07 the calculation ceiling was decided at Rs.3500/- and eligibility limit was wage of Rs.10,000/- per month which is proposed to be revised to Rs.7,000 and Rs.21,000 respectively.