Thursday, April 2, 2015

Ignore all these false and mischievous messages!

Full holiday on 2nd and 4th Saturday of every month
The Minutes of Discussions has to be translated into regular Settlement under the I.D Act amending the existing provisions regarding working hours. 
Further change of holiday in Banks also needs official changes in the regulations by RBI and some amendment to the Negotiable Instruments Act. 
All these issues have been taken up by IBA with the concerned authorities in RBI and Government. 
Without completing and complying with these formalities, the holidays in Banks cannot be changed.

Further, our units should be aware that our Settlement would cover only 45 Banks whereas there are other Banks which are outside IBA and also not covered by our Settlement.
Even amongst the 45 Banks, in the case of foreign Banks, only workmen are covered by their mandate to IBA and not officers.
Hence there are technical issues to be dealt with before implementing the change of holidays.
All such issues have to be sorted out before the new holiday system is introduced.
In the meantime, false and wrong messages, imaginary circulars in the name of SBI, instructions of Finance Ministry, etc. are in circulation.
We should ignore all these false and mischievous messages, etc. aimed to create confusion amongst employees.
Members are requested to desist from forwarding such messages to others.
-AIBEA message


Anonymous said...

Thank You.

kamal said...

The only way to end this kind of menace is adopting 'transparency' in the discussions held. At least at the end of the day, the topics discussed and settled on such matters be informed. otherwise, none can stop such kind of rumors.
Since, after clinching the 'pension' the unions have allowed the IBA to draft guidelines and unions miserably failed to correct the draft with respect to updation of pension. Now, we are fighting for updation. Everybody is concerned that such an incident should not happen again. This concern also give rise to rumors.

Anonymous said...

Even after the so called "clinching the issue" ,implementation is going on at Snails pace.Why? Is there something cooking behind the scenes.I think this is one issue where even GOD cannot predict what will happen as it is a cruel fixed game between IBA and UFBU and ofcourse the PM, who seems to be masterminding the entire drama

Anonymous said...

When ging to be complete formalities?

Anonymous said...

But for God's sake,could anyone on the earth say when this issue will be resolved.....

Vipin P M said...

This circular is really confusing ..What we signed ??? Minutes of Discussion only? As per my understanding,Every official meeting minutes will signed by all participants..So what we signed on Feb 23??

venkateswaran said...

dditional bank holidays on alternate Saturdays. The banking sector regulator feels that the infrastructure for keeping key deposit related functions need to be strengthened before the banks can down shutters to enjoy a five day week.
Recently the public sector banks, including State Bank of India had decided they will remain shut on alternate Saturdays as part of a deal reached between employee unions and the Indian Banks Association.
While staff matters are usually decided at the level of the banks or at best that of the Indian Banks Association the apex body of bankers, since this involved a change in banking practices a reference was made to the RBI. The RBI has, however, told SBI it would need more time to study the implications before coming to a decision, said a source at the regulator.
SBI Cuts Home Loan Pre-Payment Penalty
'RBI Didn't Understand SBI's Teaser Rates'
RBI Relaxes Infra Financing Norms
The employee unions at the public sector banks have for long been demanding a five day week as part of their wage settlement. After the meeting with the IBA in February this year, an agency report quoted AIBEA general secretary C H Venkatachalam to say; “Our long pending demand of holiday on second and fourth Saturdays for the bank employees have also been reached”.
The wage related deal was sewn up between the bank managements and the workers just before the tabling of the Union Budget this year averting a national strike. There are about a million employees in all scheduled commercial banks in India as per RBI statistics. Of these about 0.75 million are in the public sector banks. The deal between the state run banks and their employees is likely to impact working hours in private and other banks in India too.
Since the new financial year began from April 1, SBI had sent the reference to RBI to clear the new holiday schedule. The bank employees have argued that as the stock markets and clearing houses remain closed over the weekend, it made little sense to keep the banks open on Saturdays. The compromise of the alternate Saturdays as a day off for the banks is meant to gauge the extent of pressure if the banks follow a five day week.
With the RBI not willing to clear it soon the banks face the prospect of losing a bargaining chip with the unions. It approved late the banks will have to make a mid-year change in the holiday schedules.
This is extract from Indian express on 04th Apr. So 2nd and 4th saturday is distant dream for bankers.

Anonymous said...

Then what is the next move of Unions????

Unknown said...

What about the new pay scales ? will our UFBU approve the introduction of Bank Correspondents in PSBs, that too on large scale ? What would be the Cost analysis per Bank Correspondent, per month ? will the banking be in secured segment with the deep involvement of Bank Correspondents ?