A clarification issued by IBA on following provision.

It is applicable to those employees who retired between 01.11.2012 to 30.04.2015 and are eligible for notional benefit of 8th increment before their retirement date.

For your reference ,please read following provision in 10th BPS.

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Introduction of 8th stagnation increment mentioned in 10th BPS.

5. Stagnation Increments:

 In partial modification of Clause 5 of Bipartite Settlement dated 27th April 2010, both clerical and subordinate staff (including permanent part-time employees on scale wages) shall be eligible for eight stagnation increments w.e.f.  1st November 2012 at the rate and frequency as stated herein under:  The clerical and subordinate staff including permanent part-time employees on scale wages on reaching the maximum in their respective scales of pay, shall draw eight stagnation increments at the rate of Rs.1310/- and Rs.655/- (pro rata in respect of permanent  part-time employees) each due under this settlement, and at frequencies of 3 years and 2 years respectively, from the dates of reaching the maximum of their scales  as  aforesaid  except  that  in  the  case  of  clerical  staff,  sixth,    seventh  and  eighth stagnation  increments  will  be  released  two  years  after  receipt  of  fifth,  sixth  and seventh  stagnation  increments  respectively,  provided  that  an  employee  who  has completed  two  years  or  more  after  receiving  fifth  stagnation  increment  as  on  1st November  2012  shall  receive  the  sixth  stagnation  increment  as  on  1st  November 2012. Provided    further  that  a  clerical  /  subordinate  staff  (including  permanent  part-time employees  on  scale  wages)  already  in  receipt  of  seven  stagnation  increments  shall  be eligible  for  the  eighth  stagnation  increment  on  1st  May  2015  or  two  years  after  receiving the  seventh  stagnation  increment,  whichever  is  later.     

 

 

 

 

 

 

 

Jungle law in  MUFG (Bank of Tokyo)!

8 permanente employees telephonically terminatted without notice!

Circular: CIR 277 , Protest Email

MUFG Bank is Japanese Bank operating in our country with 3 Branches in Delhi, Chennai and Mumbai. Earlier this Bank was Bank of Tokyo-Mitshibishi and now, after take over, it is called MUFG Bank.

14 permanent employees are working in Bank in the workmen cadre besides officers. All of them have been working in the Bank for past 25 years and more. They are covered by our Bipartite Settlement also. All of them are members of the Union – All India MUFG Bank Employees Association, which is affiliated to AIBEA.

The Bank has been in the process of centralization of its operation in India. Employees have been representing to the Bank to let them know the details of this process to ascertain the impact of the same on their job and job security.

But surprisingly, on the evening of 29th December, 2020, around 4-30 PM, 8 permanent employees of the Bank, 5 in Delhi and 3 in Chennai were telephonically terminated with immediate effect.
This was followed by an email to the employees informing their termination from the Bank’s service with immediate effect from the close of business hours on the 29th December, 2020.
They were also informed that their dues were credited to their account and they are not come to the Bank from the next day i.e. 30th December, 2020.

While the employees were under utter shock, they were virtually evicted from the bank premises and their Access Card, ID Card, etc. were snatched from them by the HR Head. Files and papers belonging to the Union have been confiscated.
In the name of centralization, the Bank has made hundreds of fresh appointments of employees and officers in Mumbai. But these permanent employees have not been given any opportunity or option to relocate to Mumbai and have been forcibly thrown out in the streets all of a sudden in a most cruel and inhuman way.

These are pandemic times and Home Ministry has issued clear guidelines to deal with the workers in private sector including instructions that employees should not be deprived of their wages, etc. But it is so painful and disheartening that this foreign Bank which has come to India to do banking business is flouting all rules, laws and guidelines and have thrown such permanent employees out of job in a most illegal and unfair manner.

Members will recall that this Bank of Tokyo is already a notorious Bank and about 20 years ago, suddenly closed their Kolkata Branch overnight without any notice and which led a prolonged agitation including a call for All India Strike by AIBEA.
Shamefully, once again, the Bank has now resorted to such blatant and flagrant unfair labour practice by terminating the employees on phone. All rules, laws and norms have been thrown to the wind and Bank is terminating permanent employees in this brazen manner just like throwing tissue paper in the dustbin in the washroom.
Obviously this is unfair, cruel and inhuman besides being thoroughly illegal and unlawful. Obviously this cannot be accepted or tolerated. From AIBEA we have already taken up the matter with the Finance Minister and Labour Minister. We have also made the complaint to the Chief Labour Commissioner (Central), Govt. of India.

To express our condemnation and strong protest against the illegal termination of the employees, we call upon all our unions to send the following protest by email to Finance Minister and Labour Minister.

fm@finance.nic.in / nsitharaman@nic.in,

Respected Madam, 

We strongly protest against the illegal termination of permanent employees of MUFG Bank – Seek your intervention to instruct the Bank to reinstate them. ……no…………. Name of Union …….

All our units are to send these email under copy to us. Further agitational programmes will be given shortly.
With greetings,
Yours comradely,

C.H. VENKATACHALAM 

GENERAL SECRETARY