Monday, March 3, 2014

Bipartite Talks Failed , No Hope Now , Wait 2015

IBA to take up unions’ demands with Govt tomorrow-Hindu Business Line

Indian Banks’ Association, representing the managements of banks in the country, will soon take up with the Finance Minister the demands set forth by the United Forum of Bank Unions.
IBA functionaries and UFBU leaders held talks on the ticklish issue of wage hike in Mumbai on Monday. The union leaders were told that the issues raised by them would be taken up with top Finance Ministry officials on Wednesday. Based on the Government’s stand, the next round of bilateral talks would be held “within the next 10 days”. UFBU leaders told Business Line that they had strongly pushed for a five-day banking week (instead of six now), which is the norm in many countries. They have also demanded regulation of working hours, a return to the old pension scheme for bank employees, and better medical care and housing benefits.
Several rounds of talks have already been held between the IBA and the unions over the demands, but the talks were deadlocked on the crucial issue of wage hike.
(This article was published on March 3, 2014)

BI-PARTITE TALKS WAGE-REVISION TALKS HELD TODAY-3rd MARCH

U.F.B.U. raised other issues like 5 day's banking, 
regulated working hours',


improvements in Pension related issues including switch over from NPS to old 


pension scheme,housing and hospitalisation,and also demanded adequate 

wage ncrease.BA assured that these matters will be discussed with Finance 

Ministry on 5th instant and thereafter hold negotiations within 10 days.

tahir ali



N.C.B.E.


New Discussion Updates - January, 2014 :
(source allbankingsolutions.com)

”UFBU ko phir Ulloo Banaya ?”  Reports indicate UFBU leaders have again become Ullu. It is claimed that in the 3rd March 2014,  U.F.B.U. raised the adequate wage revision issue and also  raised other issues like 5 day's banking, regulated working hours', improvements in Pension related issues including switch over from NPS to old pension scheme, housing and hospitalization.   IBA assured that these matters will be discussed with Finance Ministry on 5th instant and thereafter hold negotiations within 10 days.  Leaders Must Have Enjoyed Air Trips, 5 Star Hotel Stays,  Heavy Tea & Snacks, Lunch etc at expenses of their comrades !!   Another drama by IBA and UFBU  to ensure that Election Code of Conduct should come into force (which was earlier expected from 2nd March, 2013, is now likely to be enforced from 5th March, 2014)  - More Details  and analysis on receiving detailed circular


Bank staff eye 15 pct pay hike in meet with IBA-Financial Express

03.03.2014
Nine unions, representing around 9 lakh public sector bank (PSB) employees under the umbrella of United Forum of Bank Unions (UFBU), are slated to meet Indian Banks’ Association (IBA) — the country’s apex bank management panel — on Monday to arrive at a wage revision settlement.
In the last round of talks that failed, leading to a nation-wide strike on February 10, the employees had cited high inflation while rejecting the management’s offer of a 10% hike in the cash component of the pay package (including basic pay, dearness allowance, house rent allowance, routine medical expenses and a special allowance, but excluding superannuation benefits, travel allowance and hospitalisation reimbursement).
Top bank management sources said even a 10% hike in the cash component would have set banks back by Rs 3,150 crore, a huge sum considering mounting bad loans and the economic slowdown, which is delaying recovery. Though the employees have not demanded any specific hike, they may agree to a “reasonable settlement” of around 15% hike in the cash component if the management agrees to take care of the expenses for their housing and medical expenses, sources indicate.
“Our readiness to agree to a low hike in the cash component will depend on the management’s readiness to accept our demands of taking care of housing as well as medical expenses of the employees and their family including hospitalisation,” CH Venkatachalam, general secretary, All India Bank Employees' Association (AIBEA), told FE. AIBEA is the country’s oldest and largest bank union with around 5 lakh employees as its members.
On February 10, when bank employees started a two-day nation-wide strike demanding higher wages, finance minister P Chidambaram had asked PSBs to ensure that a significant portion of their retained earnings is ploughed back as capital to further their business. “It cannot be that all profits are used to declare dividend and to provide enhanced wages and allowances to bank employees. While claims of officers, staff and employees must be duly acknowledged, and a fair and just (wage) settlement is arrived at, there are other claimants (declaring dividend and using part of retained earnings as capital) to banks' profits. I will appeal to employees and officers of banks to recognise this,” the minister said.
Wages as a ratio of total bank expenses have come down from 17.5% in 2010-11 to 14% in 2011-12 and to 13% in 2012-13. Though the wage bill itself has gone up from Rs 54,964 crore in 2010-11 to Rs 56,000 crore in 2011-12 and to Rs 64,000 crore in 2012-13, employee unions said this was mainly due to recruitment of around 1 lakh employees and higher outgo of superannuation benefits as a large number of them had retired from service.
They pointed out that profits of banks rose from Rs 1 lakh crore in 2010-11 to Rs 1.16 lakh crore in 2011-12 and to Rs 1.22 lakh crore in 2012-13, while the provision for bad loans went up from Rs 29,830 crore to Rs 38,177 crore and to Rs 43, 102 crore during this period. The actual write-offs also went up from Rs 17,794 crore in 2010-11 to Rs 27,013 crore in 2012-13.
“We understand the ability to pay higher wages is limited due to bad loans, but then how could they afford to write off so much? The management must consider the wage hike as an investment in their employees. Otherwise, with more private banks to be set up after the new bank licences are rolled out, they would easily poach from PSBs with higher pay packages. This will result in PSBs losing out after having spent considerable time, energy and money in fresh recruitment and training,” Venkatachalam said.
In the last round of wage revision settlement signed in 2010 for 2007-12, the management had agreed to a 17.5% increase in the total salary. This time, the employees are asking for an increase in the cash component of their salary.

5 comments:

  1. Drama enacted again .all played
    their role nicely.let all appreciate
    Our stalwarts.

    ReplyDelete
    Replies
    1. BASIC PAY FOR BANK CUST.ASSISTANT IS 7110/- THE BASIC PAY FOR TRIBAL WATCHER POST IS 8530/- INFLATION AND DAILY PRICE HIKE ARE REAL THREAT . THEN HOW A BANK EMPLOYEE MEET HIS REQUIREMENTS WITH HIS LOW SALARY...?

      Delete
  2. it is like the old adage regarding cricket. eleven million fools watching eleven fools. here it is 10lakh employees being taken for a grand ride and fooled by the leaders of 9 unions

    ReplyDelete
  3. I feel totally depressed and saddened by the way our unions are dealing with the host of issues relating to our wage revision and other demands. I think they deliberately sat on these issues for ovet a year and now when elections are very near they have woke up and showing some aggression. I think if all these actions were taken a year ago today we would be sitting on a favourable settlement. Once the code of conduct comes into force, we will just be forced to drag our feet and nothing positive can be expected till 2015 a very sad story.

    ReplyDelete
  4. Drama hote raha hai,drama hote rahega
    Banker rote raha hai,banker rote rahenge
    Lagate hai ummid har settlement me
    Wahi hona hi hai,wahi hote rahenge
    Galti ki hai banker banane ka o
    Saja pai hai jo,wahi pate rahenge
    Marana sabko hai janam kabhi na kbhi
    Roj til til ke jo mare hai,o roj marate rahenge

    ReplyDelete