Thursday, March 29, 2018

Gazette notification for increasing ceiling amount for Gratuity issued.

It seems that ceiling of Rs. 20 lakhs is applicable for  those employees who retire on or after 29.03.2018.
It is my understanding.
Others may clarify.

In the last occasion
( Ceiling raised from Rs.3.5 lacs to 10 lacs) also the date of effect was 26.04.2010
(date of passing the bill in parliament/ Gazette date) and not from 01.01.2006.
i.e pay commission date.

Tuesday, March 27, 2018

Youth discuss issues faced by banking sector, staff

— By Agencies | Mar 25, 2018 12:11 am

This three-day convention which was organised by AIBEA, set the tone by calling not just the banking employees but the working class across all public sector,

Mumbai : Around 1,000 representatives of various banks gathered in Mumbai for the second youth convention for banking employees. This was held with an aim to address various issues faced by the banking sector and also problems faced by the employees of the bank.

The three-day convention which was organised by All India Bank Employees’ Association (AIBEA), set the tone by calling not just banking employees but the working class across all public sector, to evaluate the importance of public sector in the country.

AIBEA, general secretary, CH Venkatachalam said that he met Finance Minister Arun Jaitley and asked him to look at various issues faced by the banking sector and its employees.

“After we spoke to the minister, the Indian Bank’s Association had informed us that a meeting will be help to discuss issues like remuneration, perks and etc.” Venkatachalam also ensured women employees that they are also looking at ways to extend their maternity leave.

With increasing technology, he added, there is a need to find a right mix in utilising technology for improving efficiency. “It looks like we are become slaves to technology and that is not the way to go.” He reiterated there is need for technology but not at the cost of jobs.

This convention also saw WFTU’s working youth committee, international coordinator Emil Oslen address the youth.

Wednesday, March 21, 2018

UFBU 's Dharna at New Delhi today.....


UFBU Leaders Meet Finance Minister and Secretary, Banking.

United Forum of Bank Unions organised a Dharna at Parliament Street today, which was a dharna of leaders of UFBU representing 9 Trade Unions in Banking Sector across the country. 

The UFBU delegation consisting of     
Com. Sanjeev Bandlish, Com. C.H. Venkatachalam, Com. D.T. Franco, and 6 more Unions/ Associations,
accompanied by Members of Parliament Com. D. Raja and Com. Tapan Sen met the Finance Minister and discussed issued affecting the Banking Sector.

They represented to the Finance Minister to come out openly against privatisation and provide all support to Public Sector Banks by strengthening the system. 
They also demanded that action should be taken against those who are responsible for the frauds and Junior officers alone should not be made scapegoats. 
They also demanded immediate appointment of Officer and Employee Director .
None of the Public Sector Banks have these representatives in the Boards of the Bank which is mandatory as per law. 

In another representation they demanded providing welfare measures for Bank employees based on operating profit and not net profit.

The representatives also asked the Finance Minister to direct Indian Banks Association to complete the wage negotiations quickly and continue the practise of wage negotiation settlement upto scale VII. 

The representatives also mentioned to the Finance Minister that the Asset Classification Norms and the provisioning norms changed by the Reserve Bank of India wide their circular dated 12th February 2018 is going to create havoc in the Banking Industry. 
They mentioned that the change in norms of declaring loans which are not serviced for 30 days as substandard and also referring loans which are not serviced for 180 days to NCLT leads to huge provision which are not scientific and will create a dent on the banking system as a whole. 

The Finance Minister assured that there will not be any privatisation of public sector banks.
 He also stated that ownership of the Banks is not the problem but  supervision is the problem.  He agreed to take action on issues represented. 

The delegation also met Mr. Rajeev Kumar, Secretary, Department of Financial Services and discussed all the issues with him. 
He has assured quick action from the Government on all the matters represented. 

(D.T. Franco)
General Secretary