Consolidation of banks!

Prepare small banks for merger with large PSBs: Finance Ministry panel

MUMBAI, APRIL 20:  

Small public sector banks, with assets of less than Rs.2-lakh crore, should be readied for merger with five large PSBs, a Finance Ministry-appointed panel has recommended.

PSBs with less than Rs.2 lakh crore assets (loans plus investments) include Andhra Bank, Bank of Maharashtra, Dena Bank, Punjab & Sind Bank, Vijaya Bank, and United Bank of India.

The large PSBs, with the capability to acquire include Bank of Baroda, Bank of India, Canara Bank, Punjab National Bank and Union Bank of India.

AIBOC Circular No. 2015/20 dt/ 18.04.2015

QUOTE: 

"Our members are aware that MOU was signed on 23rd February, 2015, for the Xth Bipartite Settlement in which an annual wage increase of 15% on pay slip components was offered by the IBA, which works out to Rs. 4725 crore along with the second and fourth Saturdays off in Banking Industry. ….
…..United Forum of Bank Unions met at Mumbai on 15.04.2015 to discuss about the proposed Medical Insurance Scheme in lieu of the scheme for reimbursement of Hospitalisation expenses presently in vogue in Public Sector Banks and any other issue on the present scenario.
……On other issues, we requested all the constituents of UFBU to take a common stand of loading 2% on basic pay and DA as on 31.03.2012 as per the terms of MOU and not to compromise on anything else. On this issue, a couple of constituents had a different view. 
We shall try to convince them with our view and shall endeavour to ensure that our interpretation of the MOU on this aspect of loading is demanded by the UFBU. 
This interpretation is all the more necessary in view of the fact that there are lot of constraints in construction of pay scales with a limit of 2% of loading on basic pay and DA. 
We also made it very clear in the UFBU meeting that we will not sign any agreement till the time the second and fourth Saturday off in the Banking Industry is ensured or a firm commitment is signed by IBA in this regard giving a time line for its implementation.

Details of talks on 16.04.2015

Text of BEFI Circular no.13/2015 dated 17.04.15

BIPARTITE TALKS

The Sub-Committee for discussion of Medical Reimbursement met
at 11.00 A.M. yesterday, 16th April 2015.
On introduction of Medical Insurance Scheme, UFBU forcefully put forward the apprehension of the employees and insisted that the same need to be addressed first before the present system of reimbursement of expenses is substituted.
 IBA, while assuring that the same would be taken up with the TPA for acceptable solution, requested UFBU for a written note in the matter.
The issue is yet to be finalized.

Thereafter, full-fledged negotiations were held in the afternoon.
In this session, some understandings were arrived at on

Dr. Ambedkar Jayanthi Greetings!

No, PM Modi: Here's why I won't be giving up my LPG subsidy!

It is all gas.

A political party and its followers who threw a fit when the UPA government decreased the number of subsidized LPG cylinders now want everybody to renounce subsidy.

Vote them out for taking it away, was the outcry then.
Give it up, is the new status symbol and update now.
Good subsidy politics that helped candidate Narendra Modi has turned into
 bad middle class ethics for PM Modi.Reuters image.

The crux of Modi’s appeal is that government ‘subsidy’ is only for
the poor and the ‘underprivileged’.
For those who can afford to pay the market price, it is, thus, unethical to claim it.

Clever ploy:
If you can’t convince them politically, blackmail them emotionally.

Put the burden of subsidy on their conscience while you munch your chickens 

for Rs 29 in the Parliament’s canteen.

Let us get this off our chest straightaway.

The government is not doing anybody a favour or being financially generous.
It is just playing emotional politics to hide its predatory economics.

The Deccan Chronicle exposes the government’s double-speak on subsidy succinctly.

"Give up" call

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.