Tuesday, February 24, 2015

Clarifications!

Clarifications;
Whether working hours increased because of Saturday holiday?
No. How?
Working hours are 6.5 hours for full day& 4 hours for Saturday.
In a month you save 4x2=8 hours for holiday.
U work extra 2.5x2=5 hours for fully work.
Ur working hours is reduced in year
=(8-5)x12=36 hours.
In a year if 5th Saturday comes 4 times u work extra=2.5x4=10 hours.
Even then ur working hours are reduced by=36-10=26 hours in a year.

Hence it is a clever move by unions so that employees get clubbed holidays twice in a month, no increase in working hours and also avoided public/traders/customer opposition for 5days banking.
How is it?
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When it will be implemented ?
After signing of full settlement IBA will send communication to RBI.
RBI in turn will issue notification.
Then only it will be implemented.
It will take another 3 to 4 months.
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What will be my new salary?
Distribution/loading of amount to various heads like PQP,FPP,HRA,CONVEY.MEDICAL AID are yet to be announced.
Hence trying to calculate at this stage is a futile exercise.
So many calculations,tables,figures are posted by various comrades.
It shows their curiosity only.
Just ignore all these charts.
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Still topics like medical reimbursement/Med claim policy,lfc,leave,issues of pensioners are to be finalised.
Above all management issues/demand like transfer policy,early retirement,vigilance,action after retirement,variable pay/incentive etc. are to be finalised.
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What about the settlement?
90% of comrades commented that it will be only 13.5% and is already match fixed.
Now it comes with 15% and 2 clubbed holidays in a month.
Thanks to all unions who pressured to change the figure 13.5.
It is not so good settlement to celebrate,
at the same time it is not so bad settlement to curse. O.K.

27 comments:

Anonymous said...

Why the heck they can't increase 15% on each pay slip component and add it up!!

Anonymous said...

Mr. Indian bank kumar how can you call it a not so bad settlement??? Do you think a 15% increase is enough considering that the bulk of the PMJDY has to be borne by banks? No other sector has to deal with so much pressure and accountability. 15% increase is peanuts. The unions have exposed how cheap they are. They show that money & bribes are more valuable than the the loyalty of the aam bankers.
With regards to the 2 Saturdays being holiday, Mr Indian bank kumar could you care to elaborate on the issue of unregulated working hours for officers. officers have to stay till 8-9 pm at the branch to finish they work. Most have to come on Sundays also. So I can assure you Mr. Indian bank kumar that though 2&4th Saturdays have been declared as holidays, you will still see officers at the branch on those saturdays trying to complete their work. Mr indian bank kumar please do not try to portray this issue as an achievement of the unions. The govt was already considering it. Besides when the calculations are done how much has the aam banker really benefited from this decision when working hours for officers is unregulated????

Rajinder Pal Jindal said...

good settlement

thallyan loon said...

Mr kumar can u plz clarify us how u take wrking hour of full wrking days as 6.5 and 4
On sat .where bankers leave or close the branch at the earliest at 6 strting frm 10 on normal day and at 3 on sat??????

Anonymous said...

What about Regulated Working hours for Officers? Anything done or do we have die a donkeys death even after this glorious settlement?

Anonymous said...

Personally i feel this is ok. Not bad. Consecutive off is also good.

gaurav goel said...

finally able to read very good post abt the ground reality... people are making charts which are useless according to me ... because there is no clarification ..

Anonymous said...

please clear meaning of point 3 of aggrement regarding basic pay.It seems to be worst for the future of bank employee

Siva Subrahmanyam kv said...

dear comrade kumar sir,
this is with reference to your clarification on SATURDAY controversy. Sir, this is too bad to bear with. For, for any trade union, the primary duty is to first protect the existing conditions and trying for betterment of them. This thumb rule should never be deviated or diverted by clever clarifications. If UFBU could not have got holiday for 1st, 3rd, 5th SATURDAYS, the present timings should have been continued. i.e. 10 am to 2 pm. Extending the existing working hours of Saturday tantamount to betrayal by ufbu. The members should get what they do not have. They should not loose what they already have. So, the convincing tactics would not mesmerice the learned members. in 1987, the tenure of BPS was extended to 5 years from 4 years in the name of " time needed for bilateral discussions". Till today, that could not be changed to 4 years. Had this Xth BPS was agreed for 4 years tenure, it would have been a wonderful settlement. SELLING is a very harsh word. Having equipped with the knowledge that certain banks made provision at 15% growth in pay in slip components, THE UFBU & AIBOC should not have made tall claims which prompted for several strikes. We all knew that negotiating with government is a difficult task and we are all exposed to our beloved LEADERS' bargaining capacity. Despite of having 100% united strength, the UFBU should have clinched the deal with IBA at the rate of 15% long ago. Any way, the UFBU & AIBOC must have serious introspection on SATURDAY controversy and should retain present timings of 10 am to 2 pm only for 1st, 3rd, 5th Saturdays. The donation of paying amount to subscribing unions, from the payable arrears, if any, in the name of LEVY too needs debate on open platforms. Honourable discussions are needed. Let the unions who insist for LEVY bring the HIGH INTEREST RATE on STAFFS' loans/advances/overdraft (accounts) to 4% (four percent only) SIMPLE INETEREST w.e.f. 01.01.2015, so that atleast some amount is left with members to save for superannuation and also for indulging into CHARITY liberally. Kumar Sir, you did wonderful contribution for creating a better avenue to cite members' expressions. Some of the readers who used these for TIME PASS should note that they are also destined for the benefits that emanate from the combined efforts of all members through social networks. We sent letters, e mails to the Prime Minister & to the Finance Minister.
Some who read those when I transmitted them to social networks for strengthening the support, commented that this person is neither an office bearer nor a participant in UFBU's negotiating team, but what for doing
all these ? Today, I reiterate that my intentions are clear and all of my representations are only to get maximum benefit to all of us. 10 lakhs of bankers, 40 lakhs of family members who are dependent on those 10 lakhs of bankers are not a negligible strength in our republic. But, we know how we all have been treated by the governance & IBA. Having joined the banking industry, we all should be made comfortable and proud by the governance. Jai Banker, Jai Banking.

Anonymous said...

Your calculation on working hours is wrong. As normal day working hours are 8 hrs a day and not 6.5 hrs. So you are working for 4 extra Saturdays in a year i.e. (4*8)= 32 hrs extra in this deal.
But getting 2 full offs in a month for working more 32 hrs a year is still on OK deal.

Anonymous said...

What is the meaning of adding 2% on BASIC PAY, AS PER para 3, copy of agreement published .

Anonymous said...

why not odd saturday as holidays and even saturdays as working days? this itself shows employtees interests are not taken care of. in what perspective , this settlemt is ok? can u please tell us?

Anonymous said...

Ha ha as if we r working 10 to 5

Anonymous said...

How the hell did you come up with 6.5 hours working day???? We close the branch at 8-9 thereby working for almost 11 hours and you say 6.5??? Now we have to work on Saturdays till 8-9 pm also? ???? And you call this good thing for bankers Have you lost you damn mind. ??? When will you open your eyes and see that the unions have betrayed us??? Stop trying to defend these bastards???? You appear pathetic. You seem as though you are on their payroll.
Everybody is saying that this is the worst settlement for bankers.......except you. Are u a union chamcha Mr. Indian bank kumar????

Anonymous said...

Kumarsab. Have you read interpretation of Mr.Rajesh Goyal on 2% load on Basic and Major increase only on HRA ? DO GIVE YOUR COMMENTS

BALAJI said...

Why officers should stay till 8-9pm. Which mgmt has in writing asked? If pending is there, yes pending is there. Anything can be postponed but not death. So no problem we can attend the pending work tomorrow. Heavens will not fall. If at all mgmt transfers you, any place is better than present place. So donot sit late, pack up by 6-7pm and enjoy life with family

Anonymous said...

I have a doubt that whether this 5 days working is applicable only for public sector banks or private as well...?

Anonymous said...

i totally agree with Siva sir. Apart from that i feel that mr bank kumar acts as defence lawer of ufbu leaders. Can mr bank kumar calculate the profit to those whose retirement date is between nov 12 To oct 17, Actually they will be in negative. why not the working hours were discussed. Mr bank kr if iba ka chale to 24X7 Working hrs honge.

Anonymous said...

Total hike in take home pay will be 5% or less than that was IBA`s original offer.15% hike is pure lie.Someone getting a basic salary of Rs 14500 on Feb 2015 gets 30450 at 110% DA.
After revision he gets 14500x1.6015x1.02= 23690 (rounded of)+ 33%DA = Rs 31500 ie an increase of 3.44%

Anonymous said...

15% increment doesn't mean gross 15 % hike and even if it were true, adding after % increment in each component results in the same with adding and then increase by 15%.

Anonymous said...

I would love to join the bank where Mr. Kumar works. It remains open for 6.5 hrs only.

Anonymous said...

The hike in real terms would be 3 to 4 percentage points. If you consider the house rent paid through beyond the filthy compensation in house rent by availing quarter facility this BPS has given nothing but high BP and grand salute to the foolish work culture and adamant old union leaders their position and nothing else.

Nitya Kumar said...

where new pay scales

Admin said...

I will always regret that y I joined a public sector bank. The environment is worst, their management polices sucks, the management people should be given a lot of training. I don't understand the transfer policy also. In short everything works in an illogical way.. It's my suggestion to everyone, stay unemployed but don't join bank. Am ashamed of being one!!!!

Radhakrishnan Subramanian said...

My strong recommendation is that have a uniform salary policy as per RBI agreement which is the best as on date.

Siva Subrahmanyam kv said...

1) 1st, 3rd & 5th Saturdays must carry the present timings only. i.e. 10am to 2pm.
2) NPAs in banks are more dangerous than BLACK MONEY of Indians in abroad based banks.
3) all staff loans, staff clean overdraft accounts must have 4% SIMPLE interest rate than the present HIGHER rate of interest.
Please support these three key demands.

Siva Subrahmanyam kv said...

AIBOC must clear our recorded doubts. Months together negotiations going on without fruitful result. What happenef to NPAs' story told by the IBA ? We all have analytical minds. Yet, why unions try to present cock and bull stories ?