Circular Letter No. AIBOC/2018/39 Date: 17.07.2018

To All Affiliates/Secretary of State Units

Dear Comrade,

WAGE REVISION

We reproduce hereunder the Note signed by the Joint Forum of 4 Officers
Organisations and the letter given to the Additional Secretary, Dept of Financial
Services on the subject captioned above for your information.
With regards,
Yours Comradely,
Soumya Datta
General Secretary

Text of the letter given to DFS

ALL INDIA BANK OFFICERS’ CONFEDERATION (AIBOC)
ALL INDIA BANK OFFICERS’ ASSOCIATION (AIBOA)
INDIAN NATIONAL BANK OFFICERS’ CONGRESS (INBOC)
NATIONAL ORGANISATION OF BANK OFFICERS (NOBO)
Ref: Officers/5 CAMP: Delhi
 16.07.2018

The Additional Secretary
Dept. Of Financial Services
New Delhi

Dear Sir,

Wage Revision

We are glad to know that you have completed the process of appointment of
experienced executives from PSBs to head the Banks. We hope that all Banks
would have suitable and able Heads in this hour of crisis. We are also glad that the
Ministry has voiced against the tendency to paint the Bankers in dark and against
unnecessary arrests and harassment. We request you to issue a media statement
on this, as this would definitely lift the sagging morale of the bankers, encourage
them to fight the fear-psychosis and to re-infuse the confidence in them to take
decisions. Bankers would be extremely thankful to you for this.
You have addressed many letters to the Chief Executives of the Banks, under copy
to Indian Banks Association, reminding them to complete the process of salary
revision before 01.11.17. Banking work force were, in fact, delighted to see the pro-
active instructions from your Office and were expecting an early salary revision.
But, unfortunately the process has not taken off meaningfully. Salary revision has
reached an impasse. We request your urgent intervention in the matter.
We highlight few specific issues hereunder, with the earnest hope that suitable
instructions will be issued to all concerned to take them forward for meaningful
discussion and conclusions.
1. Unconditional Mandate
While nearly all the member of Banks of IBA have given unconditional mandate to
IBA to negotiate, 6 Banks viz. SBI, PNB, BOB, Indian Bank, Union Bank of
India and Oriental Bank of Commerce have given conditional mandate to
restrict negotiations up to Scale III/IV. This is illogical, divisive and a deviation
from the followed practice. All along the negotiations have taken place for Officers
up to Scale VII, based on the Scales introduced by the Pillai Committee, which are
common up to scale VII and are part of the Officers’ Service Rules. This has been a
stumbling block and delaying the negotiations.
.
2. Five Day Banking
Banks around the world works only for 5 days. There is a thinking in few countries
to restrict working days to 4 in a week. The mature alternate channel of banking
has been good enough to meet and address the banking needs of the customers.
Most of the Govt Offices/establishments, IT Sector and major Private Sector
companies work only for 5 days in a week. Introduction of Five Days Banking will
help the Officers & Staff to have Work - Life Balance and increase productivity.
3. Decent Wage Hike
Today, the Officers in the banking industry are functioning in challenging and
stressful environment, are subject to high level of accountability and the
discomfort of frequent transfers and dislocations. The competitive environment
demands best talent. In fitness of things, we demand that salary of bank officers
be fair and comparable to the best ones in Government, PSUs & Private Sector, so
that the crucial and sensitive banking sector will be able to attract and retain best
talents.
4. Regulated Working Hours
Banks are implementing Govt Schemes and programmes like opening of Jandhan
A/cs, Mudra Loans, Pension Schemes, Aadhar-Linking and many such activities,
in addition to the normal banking activities. There has been humungous increase
in the work-load on the Officers. This has constrained the officers’ fraternity to
work beyond the stipulated office hours. Working beyond office hours has been
taking a toll on the performance and the health of the Officers, their social
relationship within the family and has resulted in a burn-out situation. These have a definite negative effect on the health and on the quality of their life. Hence, we
demand a Regulated Working Hours regime
 We also demand that adequate number of Officers and staff be recruited urgently.
As it is well known, in the next 5 years, a huge number of officers and staff will be
superannuating. Unless recruitment takes place immediately, knowledge transfer
may not take place and a talent-vacuum may set-in in the Industry, harming the
very organizations and the economy.
5. Superannuation benefits:
Few issues pertaining to superannuation benefits were not settled in the last wage
revision but were part of a Record Note signed by IBA and the Constituents of
UFBU. It may please be appreciated that the issues pertaining to the previous
wage revision are still to be settled though we have commenced negotiation for the
next salary revision.
Few important issues pending are:-
1. Revision in Family Pension
2. Updation of Pension
3. 100% Neutralisation of DA
4. 50% of last drawn pay as Pension for all
5. Uniform Commutation Formula
6. Other Issues of Wage Revision:
There are issues like Special Area Allowances, Conversion of New Pension Scheme
into an Assured Pension Scheme, Compassionate Appointments, Leave Fare
Concession etc.
We appeal to you to please intervene immediately so that the settlement can be
arrived at quickly and the Bankers can focus more on restoration of the glory of
banking sector with renewed enthusiasm and zeal.
Thanking you,

Yours sincerely,
 Sd/- Sd/- Sd/- Sd/-
Soumya Datta S. Nagarajan K.K. Nair S.U. Deshpande
General Secretary General Secretary General Secretary President
 AIBOC AIBOA INBOC NOBO