Saturday, November 11, 2017


Workers from across sectors begin 3-day dharna in Delhi

Updated: November 9, 2017 22:31 IST | Our Bureau

10 Central unions, independent federations threaten indefinite strike

Hundreds of workers from across sectors, such as coal, steel, transport, telecom, petroleum, electricity, railways, banks, insurance, defence, ports & docks, construction, on Thursday began a three-day dharna in the Capital to build pressure on the NDA government to withdraw anti-labour laws, protect jobs, stop privatisation and raise minimum wages.

In a statement, the Joint Trade Union Platform formed by 10 Central trade unions and independent federations, said the “mahapadav” (mega dharna) in Delhi was because successive governments

Saturday, October 28, 2017

CIRCULAR No. UFBU/2017/22                                                   27.10.2017    


Dear Comrades,


Further to the ongoing discussions in the Sub-Committee on non-financial demands, today, a round of discussions with the Full Negotiating Committee of IBA was held in Mumbai.

From the side of IBA, Mr.R.K. Takkar(MD-UCO Bank and Chairman of the Negotiating Committee), Mr.V.G. Kannan(Chief Executive of IBA), Mrs.Usha Ananthasubramaniam(MD-Allahabad Bank), Mr.P.S. Jayakumar(MD-Bank of Baroda), Mr.Shyam Srinivasan(MD-Federal Bank),  Mr.Prashant Kumar(DMD-SBI), Mr.B. Rajkumar(Dy.Chief Executive-IBA), Mr.S.K. Kakkar(Sr. Advisor-IBA) and Mr.K.S. Chauhan(Advisor-IBA) were present.

From the side of UFBU, the following representatives were present:

Com.C.H. Venkatachalam and Com.Rajen Nagar(AIBEA), Com.D.T. Franco and Com.Dilip Saha(AIBOC), Com.Sanjeev K. Bandlish and Com.Vinil Saxena(NCBE), Com.S. Nagarajan(AIBOA), Com.C.J. Nandakumar(BEFI), Com.Subhash Sawant(INBEF), Com.K.K. Nair(INBOC), Com.Ramnath Kini(NOBW) and Com.Sunil Deshpande(NOBO).

We submitted the following main issues/points and wanted the response of IBA.

*Wage revision process should be completed expeditiously.

*More frequent meetings/discussions to be held for this purpose.

*Data regarding 
establishment expenses,
number of employees, etc 
to be provided.

*Negotiations must cover all Officers upto Scale-VII.
*IBA to make their initial offer on increase in wages.
*Fixing the Price Index upto which DA is to be merged with Basic Pay.
*Discussion on the issues pertaining to retirees viz.
100% DA, 
pension updation, improvement in Family Pension, etc.
*Introduction of 5 Day Banking i.e. remaining Saturdays also to be holidays.

IBA responded as under:

*IBA will hold frequent meetings to expedite the process.
*Data on Establishment Expenses as on 31.03.2017 was provided.  
Further data would be provided shortly.
*On the issue of fractured mandate by some Banks, Unions have to take up with the concerned Banks.
*For officers, Performance related Variable Pay method to be introduced. 
*DA as on 31.10.2016 can be merged with Basic Pay.
*Issues like 100% DA and updation are subjudice due to litigation.
*On improvement in Family Pension, the cost aspect is being worked out.
*For introduction of 5 Day Banking, the matter needs to be taken up with various stake holders including customers and Government, etc. before any decision is taken.

There was a lot of discussion on these issues. From our side, we informed them as under:

*IBA should commence the meaningful negotiations by making their initial offer on wage increase.  
*Entire exercise should be attempted to be completed before December, 2017.
*While we shall meet the top management of the concerned Banks on mandate issue, IBA also should also take initiative to resolve the matter as majority of the Banks have given their mandate for negotiations upto   Scale-VII Officers.
*While we are for better performance, efficiency, more productivity, etc., any differentiated wage compensation will result in subjectivity, unilateralism, discrimination and may become demotivating and counter-productive. 
*On DA merger point, Unions will discuss and come back in the next round of talks.
*On pension related issues, none of the Unions under UFBU have resorted to litigation.
*On introduction of 5 Day Banking, IBA should take necessary steps from now on.

IBA took note of our views and it was decided to discuss the issues further in the next round of talks which will be held shortly. 

With greetings,
Yours comradely,

Friday, October 27, 2017

BEFI news......

In today's (27.10.2017) talks :

IBA proposed merger of DA as on Oct 2016 for working out revised payscales.

IBA also wanted introduction of variable pay for officers which we did not agree.

We insisted on negotiations to cover up to scale 7 .

Data on establishment expenses was given.

Detailed circular follows.

CJ Nandakumar, Pradip Biswas/BEFI
NOBW news.....

Today on 24.10.2017 Core committee for workmen unions with IBA.

 Following points have been discussed.   

1.Disciplinary Action and  Procedure-Refers to sub Committee.

2.LFC-Difficult areas will be covered irrespective of distance.
For actual travel 4400km for clerks for substaff no change.
Encashment old distance.
Tickets costs of Rajdhani/Satabdi allowed.
Tickets charges covered.For road mileage afterwards.                           

3.Pension scheme-
In Main committee                             

4.Improvement in Medical aid and other allowance - After DA merger. 

5.HRA and Annual medical aid-Some points agreed but decided after taking financial implications.           

6.Leave Benefits-
SL-After 24years 3months
and after 30 years3months
in total 720days on half pay.
PL-notice period 10days other than LFC.
On encashment of 270 days will be discussed in main committee.                   

Some other points discussed but decision not taken.

Next sub committee meeting will be held on 14.11.2017.

Tuesday, October 24, 2017

Today UFBU (workmen unions) had further  bipartite  discussion with IBA 

on non financial demands like additional sick leave, 
distance under LFC, 
LFC for employees in North East Andaman and faraway places in extreme north, 
project area quarters, 
more HRA in difficult and border areas, etc. 

Separate meeting will be held on disciplinary action matters.  

Next meeting on 14th Nov.  

Full negotiating committee meeting on 27th Oct. on wage revision issues . 

CH venkatachalam .SK Bandlish .
CJ Nandakumar Pradip Biswas .
Satish Sawant. Upendrakumar.
(Award staff Unions)

Thursday, October 5, 2017

Tuesday, 03 rd October,2017

Sub : 11 th Bipartite Settlement.

On 3rd Oct 2017, one more round of Meeting of the Core Group (Workmen) took place on IX th Bipartite Settlement.

The meeting was purely for Non - Financial Issues.

Demands Discussed:

1.  Increase in T.A. / Reimbursement of Petrol Cost : IBA says 'different Banks have their own different Schemes.' Unions should take up this issue with individual Banks.

2.  Voluntary Cessation of Service : Union wants deletion of these provisions. IBA said they will discuss this issue internally. No decision taken on this issue today.

3.  Better Compensation on Transfer on Deployment Policy : At present it is Rs. 400 pm. Discussion to continue.

Thursday, September 14, 2017

Premium for Medical Insurance Policy from Nov 2017 to Oct 2018 is announced for with domiciliary, without domiciliary and super top up(for additional one lac).  Option for new joining for those who missed to join earlier (without domiciliary only), switch from with domiciliary to without domiciliary, and for joining super  topup limit also announced. Take decision according to your needs.

Some comrades raised doubts of eligibility of Gratuity to Bank Employees who are recruited after Apr, 2010 and under NPS scheme.

My answer is " yes"

Read the following :


Ministry of Personnel, Public Grievances and Pensions

Department of Pension and Pensioners Welfare

Lok Nayak Bhavan, Khan Market,

New Delhi – 110 003, Dated the 26 August, 2016.


Subject : Extension of benefits of ‘Retirement Gratuity and Death Gratuity’ to the Central Government employees covered by new Defined Contribution Pension System (National Pension System) – regarding.

The undersigned is directed to say that the pension of the Government servants appointed on or after 1.1.2004 is regulated by the new Defined Contribution Pension System (known as National Pension System), notified by the Ministry of Finance (Department of Economic Affairs) vide their O.M No. 5/7/2003-ECB & PR dated 22.12.2003. Orders were issued for payment of gratuity on provisional basis in respect of employees covered under National Pension System on their retirement from Government service on invalidation or death in service, vide this Department’s OM No. 38/41/2006-P&PW(A) dated 5.5.2009.

2. The issue of grant of gratuity in respect of government employees covered by the National Pension System has been under consideration of the Government. It has been decided that the government employees covered by National Pension System shall be eligible for benefit of ‘Retirement gratuity and Death gratuity’ on the same terms and conditions, as are applicable to employees covered by Central Civil Service (Pension) Rule,1972.

3. These orders issue with the concurrence of Ministry of Finance, Department of Expenditure, vide their ID. Note No. 1(4)/EV/2006-II dated 29.07.2016.

4. In their application to the persons belonging to the Indian Audit and Accounts Department, these orders issue after consultation with Comptroller and Auditor General of India.

5. These orders will be applicable to those Central Civil Government employees who joined Government service on or after 1.1.2004 and are covered by National Pension System and will take effect from the same date i.e. 1.1.2004.

(Harjit Singh)

Director (Pension Policy)

Friday, September 8, 2017

11th BPS ......Talks held on 6/9/17
 "Today , Meeting of the Core Group (Workmen) was held.

No decision was taken during the meeting on any issue. Financial matters (wage related) were not discussed. No offer on Salary Rise was made by IBA.

Out of nine Demands on Agenda, only Six were discussed. They are :

1. Leave Benefits : PL accumulation & Encashment, Sick Leave, ML, Child Care Leave, Sabbatical Leave, Paternity Leave, Extra Ordinary Leave were discussed. Only discussions took place. For Child Care Leave Unions to present a note to IBA during next rounds.

2. Women Employees : Improvements demanded by Unions in their Service Conditions was discussed.

3. Temporary Employees : Demand for their absorption in regular Service was taken up. IBA put it aside.

4. LFC : Demand for Improvement in LFC Entitlement was taken up for discussion. Nothing Materialised.

5. PENSION for post April 2010 Employees : Demand for Regular Pension to these Employees was taken up. IBA wants Unions to take up this issue with individual Banks.

6. COMPASSIONATE GROUND APPOINTMENTS : Union demand is proper implementation of Scheme. IBA says Scheme is already there as per Govt Guidelines. Implementation part Unions have to take up with individual Banks.

The following three issues as per Agenda could not be discussed. They were :

1. Increase in Transport Allowance / Reimbursement of Petrol Cost.

2. Provisions of Voluntary Cessation of Service.

3. Compensation on Transfer.

The next meeting of Core Group (Workmen) will be held on 3 rd October, 2017 at 11 am.

11th bipartite updation as on 23 rd August 2017. Next talk will be on 6 th September


Wednesday ,   23 rd  August


Sub :   *11 th Bipartite* 



Today 4 th round of discussions took place between I.B.A. and Unions. *

The meeting began with discussion on Ten "Management Issues" as under :

1.  Compensation Package on Cost to Company. Fixed and Variable Pay concept for Offficers / Workmen. I.B.A. desires to introduce declaration of 'Performance based Bonus.' After discussion it was decided to further discuss this issue during detailed Wage Revision process.

2.  Rationalisation of Special Pay Carrying Posts. There are 8 & 3 such posts at Clerical and Sub Staff level. We made it clear to I.B.A. that additional burden of duties should be compensated. It was decided to discuss this issue during next rounds with more details from I.B.A.

3. Review of two graduation increments. Only elementary discussion took place. We opposed this move of I.B.A.

4.  Transfer and deployment of Workmen Employees - para 536 of Sastry Award. We demanded better monetary compensation for transferees as transfers are effected by Managements.  This issue to come for discussion during future rounds.

5.  Simultaneous disciplinary action by Banks and Police. Only discussion took place. No conclusive decision.

6.  Continuing departmental proceedings post retirement for Workmen Employees. Only discussion took place.

7.  Premature Retirement of Workman in Public Interest. We opposed this move.

8.  Outsourcing : We have asked I.B.A. to elaborate Business Needs.

9.  Automatic Movement of pay Scales  for Officers. Only discussion. No decision.

10.  To mark Lien on NPS Fund of employees to recover Bank's Loss. We opposed move. Issue will be discussed further.

*Thus Management Issues were discussed only. No decision was arrived.*

*Other Issues*



1. Improvement in Pay Scales and Stagnation Increments.

2. D. A. Formula

3.  H. R. A.

As load factor and basic pay structure is not decided , the issue remains hanging. Will be discussed in future rounds.

*Leave Rules*

1. Maternity Leave and in continuation Special Leave to Women employees was discussed. No conclusion.

2. Leave Bank. We requested  IBA to put forth exact scheme. It will happen during next rounds.

        *L. F. C.*

We put forth demand for enhancement in maximum distances. Uniform inclusion of Special Trains like Rajadhani etc in all bank schemes. Also one more option to employees to select periodicity of LFC.

Discussion inconclusive.

Road Travel cost reimbursement should be at same rate for Officers and Workmen was our demand. Our other demand was to include Sight Seeing Expenses in overall limit. Cost of Taxes such as GST should be included in Ticket Price which should be enhanced accordingly and reimbursed was our firm demand.

Thus even though so many issues came up and discussed, all were discussed on primary level. Discussions to continue. IBA to come up with concrete plans to give shape to discussion.

All these issues will be discussed during future rounds.

*Next Round of Negotiations is scheduled on Wednesday,  the 6 th September,  2017*

Wednesday, August 23, 2017

The subcommittee on NON FINANCIAL items held  discussion with IBA today.

IBA's counter demands were discussed in detail. 

Majority of counter demands were rejected, while few items were kept for further discussion. 

LFC,LEAVE issues also discussed.

 Next subcommittee on 6th Sept. 

CJ Nandakumar, President BEFI.

Friday, August 18, 2017

On 16th August IBA called UFBU for discussion on its Strike notice. As nothing positive emerged, strike on 22nd August 17 stands.

Today's (18.08.2017)
*Conciliation meeting*
with Chief Labour commissioner
 at Delhi failed.
*Call for Strike on 22nd August stands.*

Friday, July 7, 2017

IBA says members have authorised IBA to negotiate up to Scale 3 officers only.

Monday, July 3, 2017

Dear Comrades,


Meeting of UFBU was held today at Mumbai. Com.K.K. Nair, Chairman of UFBU presided
over the meeting.

Wage Revision:

The meeting deliberated on the issue of our Charter of Demands
submitted to IBA and the discussions held so far. The meeting felt that the entire process
of discussions should be undertaken on a recurring and continuous basis in order to
complete the settlement in time. Holding meetings once in a month will not serve the
purpose and hence decided to urge upon the IBA to expedite the discussions so that steps
can be taken to conclude the final settlement in time.

Restrictions in negotiations:

The meeting expressed its strong protest on the decision of
the IBA to restrict the negotiations on Charter of Demands of Officers' Associations up to
Scale-III only and demanded that as hitherto, the discussions and final Joint Note should
cover all Officers up to Scale-VII inasmuch as the majority of these officers are members
of their respective unions and the wage revision exercise which has been a composite one
so far, should not be divided now which will create inter-scale conflicts and inequalities.
It was decided to pursue the matter with the IBA, if necessary and warranted, resort to
organisational programmes at the appropriate time.

Saturday, July 1, 2017

UFBU Meeting held today at Mumbai.
Decided to urge upon IBA to expedite wage revision &  resolve mandate issue.

Also decided to launch agitation against reforms, mergers and our other issues.

19th July Rally.
22nd August strike.
15th September Morcha in Delhi.
2 days strike in Oct/Nov.

Cir follows.

SK Bandlish. Convener UFBU

Wednesday, June 7, 2017

11th B.P.S. update:

IBA has submitted their issues to UFBU after they have submitted their Charter of Demands.

Some of the issues as circulated by AIBOA....


[1] C2C concept to be brought in
[2] Rationalisation of Special Pay carrying posts.
[3] Review of the two graduation increments
[4] Transfer and deployment of workmen staff
[5] Simultaneous conduct of departmental and judicial proceedings for workmen
[6] Conducting the departmental proceedings after retirement of workmen
[7] Premature retirement of workmen
[8] Outsourcing of any activity within the RBI guidelines
[9] Review of the automatic movement of officers from Scale I to II and also from Scale II to III
[10] To mark lien on NPS fund of employees to recover loss to the Bank on account of their proved misconduct.

Monday, June 5, 2017

In the meeting held with IBA today (05.06.2017), all the Workmen Unions and all the Officers' Associations submitted their Common Charter of demands.

From the Management side IBA submitted the demands of the Management .
Date for next round of talks not fixed.
Detailed Circular to follow.
- UFBU Convenor -

Detailed Charter of demand with Data , Background, reasonings read the following link.

Open the file with Google Drive.

Friday, June 2, 2017

Dear Comrades,
The Common Charter of Demands on behalf of five workmen Unions, that will be submitted on 5th June next,
is attached.
Pradip Biswas, General Secretary, BEFI.

Broad Summary of Demands:

Tuesday, May 23, 2017

RIPPLES IN SALARY REVISION NEGOTIATIONS.                                        

(Registered under the Trade Unions Act 1926, Registration No.:3427/Delhi)
State Bank of India Officers’ Association
04th Floor, SBI Administrative Unit, No. 86, Rajaji Salai, Chennai- 600 001
Phone: 044-25227170 Tel/Fax 044 25227170
Letter No: AIBOC/2017/19     Dated: 20/05/2017

Shri. Arun Jaitley,
Hon’ble Minister for Finance,
Government of India,

Dear Sir,

We are sorry to bring to your kind notice that even though the Government of India has been insisting for an early salary revision settlement at the industry level between the Indian Banks Association and the United forum of Bank Unions, there has been an unnecessary delay due to certain avoidable difficulties created by the Management of few banks in the Banking industry. It is historical that the salary revision in the Banking industry takes place once in 5 years through bilateral negotiations between the associations/unions and the Indian Banks Association covering over 10 lac workforce in the entire banking industry. During the last five decades we have concluded 10 bipartite settlements and the 11th one is now expected to take off. The first round of meeting was held between the IBA and the constituents of the United Forum of Bank unions on 2nd May, 2017 but without any concrete progress.  One of the major hurdles that we are now encountering is in respect of the ‘mandate’ to be given by the member banks to the Indian Banks’ Association. A few of the banks have given a conditional mandate creating a chaotic and confusing situation in the negotiations, by insisting that they are allowing mandate for discussions only upto officers of scale III and that the remaining scales will have to be left to the discretion of the Bank.
2. The Banking Industry is overwhelmingly under the control of the Government of India due to the historical decisions taken by the Government of India during 1969 and 1980. The Nationalization of Banks was in the best interests of the economy and to take Banking facilities to the nook and corner of the country. We have seen the great contribution made by the banks during the last several decades due to this consolidation and ownership by the Central Government. But there was one area which was causing serious industrial relations crisis in the Banks at frequent intervals. Different banks had different service conditions and compensation system creating serious problems in the area of HR management.  It was at this stage that the Government of India appointed Pillai Committee for the purpose of standardization of the scales and grades and also to bring parity amongst the Public Sector banks. After a thorough study of the service conditions that existed in those days, the Pillai Committee submitted a comprehensive report aiming at standardization and uniformity in the service conditions of the Officers in the Banking Industry. Thereafter, the Government of India introduced the recommendations of the Pillai Committee in the Banks for ensuring standardization and parity amongst the Public Sector Banks. Thus, a well-developed pattern was established over the next rounds of bipartite system in carrying forward the attempts made by Pillai Committee for the purpose of standardization of the salary scales and compensation system in the Banking industry. The Pillai Committee had recommended 4 grades and 7 scales which has now become a regular feature in all the Public Sector banks including the State Bank of India.
3. The Officers’ organizations have been negotiating with the Indian Banks Association in respect of all these 7 scales over the last several bipartites. Thus, the industrial relations have been cordial and harmonious as far as the salary structure and compensation systems were concerned as they were being discussed and settled through bilateral negotiations at the industry level.  The present decision of some of the Banks, in particular the bigger Banks, seem to create a similar disparity which was prevailing earlier to distort the broad parity that is prevailing in the banking industry by attempting to retain the right of decision in regard to the scale IV and above in the banking industry. This will defeat the very purpose of the Pillai Committee’s attempt in ensuring parity and the subsequent objectives of the bilateral settlement.
4. We have conveyed our sentiments to IBA in our informal discussions and have requested them to ask all the Banks to give an unconditional mandate for negotiations on all scales rather than restricting it up to scale III alone. We therefore request your kind intervention in the matter so that the issue could be resolved without any further escalation on this issue which may affect the smooth conduct of negotiations.
Please treat the matter as urgent.
Thanking you in anticipation.

Yours sincerely,

(D. T. Franco)

Wednesday, May 3, 2017

Wage revision talks 11 B.P.S.
1st Meeting:

CIRCULAR No. UFBU/2017/06                            Date : 03.05.2017



All our unions and members are aware that our present wage revision settlement for employees and officers will come to an end by October, 2017 and hence the next wage accord has to commence from 1st November, 2017.
Since negotiations are taking unduly long time to arrive at the final settlement, we have been desiring timely settlement.

 Government had also advised the IBA and Banks to complete the negotiations early and commence the settlement from the due date i.e. 1-11-2017.

Hence we have been asking the IBA to commence the negotiations early and this was one of the prominent demands in our All India strike on 28th February, 2017.  Earlier to that we had submitted the broad summary of our common demands for employees and officers respectively.

In this background, Indian Banks Association had invited UFBU for commencing the negotiations and accordingly the meeting was held yesterday i.e. on 2-5-2017 at IBA Office in Mumbai.
IBA was represented by its Chairman Shri Rajeev Rishi, CMD, Central Bank of India, Mrs. Arundhathi Bhattacharya, Chairman, SBI, Shri Arun Tewari, CMD,  Union Bank of India,  Shri Ashwinikumar, CMD, Dena Bank, Shri R K Takkar,  MD, UCO Bank, Mrs.  Usha Subramanian,  MD, PNB, Shri Shyam Srinivasan, MD, Federal Bank, Shri,  P S Jayakumar, MD, Bank of Baroda and Shri Rakesh Sharma, MD, Canara Bank.

UFBU was represented by leaders of our 9 constituent unions in the discussion.

In his opening remarks, Shri Rajeev Rishi observed that bilateralism has been the hallmark in the banking industry for the past 50 years when successive bipartite settlements have been signed.  He particularly referred to the 9th BPS and 10th BPS under which benefits like one more option for pension,  Full Day Off on 2 Saturdays in a month, medical insurance scheme for employees and retirees, etc. were achieved due to the collective efforts of the management and the unions.

 He urged upon the unions to keep the present health of the Banks and their constraints in mind while negotiating the demands and help to conclude the Settlement early, preferably before Diwali festival this year.

He informed that since some of the Banks have given mandate to IBA for negotiations would be confined only upto Scale III Officers.

He further informed that IBA has set up a Negotiating Committee as under:

Shri  R K Takkar, MD, UCO Bank – Chairman
Shri. Rakesh Sharma, MD, Canara Bank,
Smt. Usha Subramanian, MD, PNB
Shri P S Jayakumar, MD, Bank of Baroda
Shri Prashant Kumar, Dy.MD, SBI
Shri Shyam Srinivasan, MD, Federal Bank

Responding to the observations of the IBA, from our side, we thanked the IBA for initiating the process of negotiations and assured that we shall extend our best possible co-operation to conclude the settlement as early as possible and suggested holding of regular and continuous meetings for this purpose.
We also reiterated our commitment to bipartism and settling the demands amicably through mutual discussions.

 We also conveyed to the IBA that given the increasing stress and heavy workload under which employees and officers are working in the Banks, they deserve satisfactory wage revision and improvement in their service conditions.

We also informed the IBA that our Unions are equally conscious and concerned about the present challenges faced by the Banks and would be willing to work with the managements to overcome these challenges successfully.

We strongly conveyed to the IBA that the negotiations in respect of officers should not be restricted upto Scale III and must cover upto Scale VII as hitherto.

In the conclusion, it was decided that the Negotiating Committee will shortly fix up the date for starting the negotiations when formal talks on our demands will commence.  We shall keep our unions and members informed of further developments.

With greetings,


Thursday, April 27, 2017





· Revision of Basic Pay w.e.f. 1-11-2017 by merger of Special Allowance (7.75%of B.Pay) alongwith D.A. payable on Basic Pay and Special Allowance  at the average index for the quarter July-September 2017.

· Construction of revised pay scales by loading thereafter at 20% to clerical staff and 25% to subordinate staff.

·    Fitment on stage to stage basis

Stagnation Increments:

· Stagnation increments once in 2 years without any ceiling for both clerical and subordinate staff.
· Stagnation increment/s to be given in all cases of reversion   from officer to clerical cadre and clerical to substaff cadre

Monday, April 24, 2017

Five Workmen Unions
will meet on 29th April  at Chennai
to finalise the Common Charter of Demands
to be submitted  to IBA
on 2nd May 2017.
Pradip Biswas, GS, BEFI.

Wednesday, April 12, 2017

11 th Bipartite settlement talks begins 6 months ahead of due date.

Sunday, March 19, 2017

Govt asks 10 banks to cut staff benefits for capital

FinMin wants banks to get commitment from trade unions

Business Standard19 Mar 2017ANUP ROY & ABHIJIT LELE

The government has asked 10 public sector banks (PSBs) to curtail employee benefits, including industry-standard pay hikes, if these want to receive any capital.

The Centre wants these banks to sign a memorandum of understanding (MoU) with the employees’ unions to get a commitment on this. If the unions agree, benefits such as leave travel concessions and perks could go for a few years till the banks returned to health.

All three Kolkata-based banks — United Bank of India, UCO Bank and Allahabad Bank — have got this diktat. The letter has also gone to Indian Overseas Bank, Vijaya Bank, Bank of India, Central Bank of India, Andhra Bank, Bank of Maharashtra and Dena Bank, sources said.

These banks had asked for capital from the government, some as little as ~500 crore. But the government is acting tough, as these have a huge bad-asset problem and their profits are dwindling.

According to sources, a letter, which the finance ministry has written to the banks, said capital allocation would be linked with measurable quarterly milestones on which all related parties — banks’ board of directors, management and employees — must commit.

Support in the form of capital would require a tripartite MoU between the government, the PSB concerned and its employees. The MoU would be a commitment to an agreement for a time-bound plan, starting with the financial year 201718. It would be monitored quarterly.

Temporary restructuring of employee benefits would be done only based on need. Any reduction or suspension in benefits could be reversed if the bank concerned successfully managed turnaround operations, said sources.

Senior bankers in some of these institutions confirmed they had received such a letter. A senior executive of a bank said the purpose of the proposed MoU was to have employees on board. “This is a commitment and not a legal provision to put blame on and basis for action against employees,” he added.

Sources said SBI Capital Markets, the investment banking arm of the State Bank of India (SBI), has been asked to advise on the terms of the MoU.

According to a senior union leader, they would explore the option of going on strikes if they were not satisfied with the terms of the MoU.

C H Venkatachalam, general secretary, All India Bank Employees’ Association, said employees were ready to cooperate for the effective turnaround of banks. However, unions and employees would not tolerate a vendetta or harassment. Banks have to be empowered to ensure effective recovery from defaulters, especially corporate borrowers, through legal means.

“The government wants the banks to sign the MoU with the unions to restrict economic benefits of employees. This is probably the government’s way of saying the employees of these banks deserve to be punished,” said a source.

Bank unions might find hurdles to their agitation plans. The P J Nayak committee has already suggested privatisation of PSBs. Union Finance Minister Arun Jaitley has expressed a desire to start privatisation with IDBI Bank. Besides, the government in July 2016 said it would capitalise only 13 banks, out of the 19 it owned, based on performance.

Bank unions were in a spot after the government gave a go-ahead to SBI to merge with its associate banks.

Such an MoU was not unprecedented. In 1998-99, the M S Verma committee report had suggested that banks with a return-on-asset ratio of less than one should be liquidated. Affected banks — Indian Overseas Bank, United Bank of India and Indian Bank — had to sign such an agreement with the unions. These banks had returned to health in three years. Then finance minister P Chidambaram used to preside over the board meetings of these banks and employee benefits were significantly curtailed.

The government is trying the same trick this time and the unions might have to oblige to save the banks from privatisation, sources said.

Saturday, February 25, 2017

If this happens Bank Employees will also get  this benefit.

Gratuity payment ceiling to double to Rs20 lakh

New Delhi: The central government Thursday agreed to allow millions of organised sector employees to withdraw up to Rs20 lakh from their gratuity corpus, double the amount permitted now.

Currently, even if a worker accumulates more than Rs10 lakh as gratuity contribution, he or she is allowed to withdraw only Rs10 lakh.

The agreement came following a meeting between the labour ministry and representatives from states, employees and employers on Thursday.

“All the stakeholders—states, Centre, unions and the industry representatives were on the same page to enhance the gratuity ceiling from Rs10 lakh to Rs20 lakh,” a labour ministry spokesperson said after the meeting.

This follows the 7th Pay Commission report allowing government employees to withdraw up to Rs 20 lakh gratuity, which left out a significantly bigger number of private sector employees. The labour ministry will now bring a formal amendment to the Payment of Gratuity Act to implement the change.

All companies and establishments deploying 10 or more workers comes under the Gratuity Act. Gratuity is calculated as: Last drawn salary × 15/26 × number of years of service. Salary means basic pay plus dearness allowance; 15/26 means 15 working days’ pay of the 26 days of pay.

“It was logical that we extend the ceiling to Rs20 lakh and the labour ministry did not have any objection today,” said Virjesh Upadhyay, general secretary of the Bharatiya Mazdoor Sangh, a trade union affiliated to the Bharatiya Janata Party.

D.L. Sachdeva, national secretary of the All India Trade Union Congress (AITUC) who attended the meeting, said that besides the ceiling hike, labour minister Bandaru Dattatreya agreed to “consider reducing the five years’ gratuity payment rule”.

  Currently, an employee with at least five years of continuous service is eligible to get gratuity, which forms part of the overall salary package of an employee, but not paid monthly.

Thursday, February 2, 2017

Tall claims !!
Income Tax slab rate reduced from
10% to 5% , For income upto Rs.500000!
Tax payer will be benefited by Rs.12500!

Is it true?

But, media / news papers does not highlight one change.
Yes, Tax rebate of Rs.5000 for income upto Rs.500000 available till last year is changed.
Now it is reduced to Rs.2500 and that too upto income of Rs.350000.

Giving benefit by one hand and take away the existing benefit by the other hand!
What an ideaji?

Pl. Read the examples compiled by me .
Those who are under income of Rs. 500000 are not benefited anything.

But, those who are having income of above Rs.500000 are fully benefitted by

This Government is for whom?