CIRCULAR LETTER NO. 27/121/2015/17
19th March, 2015
TO ALL OFFICE BEARERS, STATE FEDERATIONS ANDALL INDIA BANKWISE ORGANISATIONS
1. Ongoing negotiations on wage revision and other improvement in service conditions: Units are aware that the Minutes of Discussions signed by us with the IBA on 23-2-2015 covering 15% increase towards cost of payslip components and amounting to Rs. 4725 crores coupled with full holidays on 2nd and 4th Saturday of every month are significant breakthrough in the given circumstances and as compared to previous wage revision. Our other demands are also being discussed and sorted out and already understandings have been reached on some of the issues.
The details of agreed issues have already been circularised by us for the information of our members. The construction of revised payscales and other issues will be taken up in further rounds of discussions. In the meantime, all sorts of misinformation, wrong information, rumours are being spread by vested interests about distribution of load to various items, etc in order to create confusion amongst the members. Our units are to keep off from such attempts and not fall a prey to the same. As and when any development is there, we shall keep our units informed.
2. Full holiday on 2nd and 4th Saturday of every month: On this also, various types of wrong information are in the market. Working Hours are service conditions which are part of the provisions of Bipartite Settlement. The relevant provisions have to be duly amended at the time of full-fledged settlement. Negotiable Instruments Act has to be amended and RBI also has to issue revised instruction on banking hours. In the meantime, based on our Minutes of Discussions, IBA has taken up the issue with the Government and RBI for due changes pending amendment to our Settlement. 2 Saturdays as holidays can be implemented only after completing these formalities. Hence units would appreciate that all these procedures would take some time.
3. WhatsApp messages, SMS, etc: Oflate we observe that all types of unconfirmed information are being forwarded/circulated amongst our members through WhatsApp messages, SMS, etc. All these only contribute to avoidable confusions and we are required to clarify these questions every now and then disturbing our time and energy. Our units are requested to advise all concerned that any information related to wage revision, etc. are to be forwarded only if they are emanated from AIBEA or our State Federations. Technology can be used but not abused.￼
Rural banks told to cut jobs, outsource ops-Times of India 20th March 2015KOLKATA: The Narendra Modi government has directed regional rural banks to become slim by cutting jobs and outsource non-core functions such as IT maintenance, cash remittance and housekeeping.
The decision may not force RRBs to lay off people but these banks, which collectively employ around 80,000 at present, would need to downsize their future hiring plans by at least 10-12%.
The government told them to handle higher volume of business with a lesser number of employees in a core-banking environment backed by modern IT infrastructure.
The move is aimed at improving productivity and profitability of these banks.This is based on the recommendations of SK Mitra committee on HR policy for RRBs, which was set up three-years back but its suggestions were buried under the carpet by the UPA-II government. SK Mitra was then the executive director of National Bank for Agriculture & Rural Development.
The Modi government wants RRBs to follow the recommendations.The nation's banking system has 56 RRBs with 19,400 branches and a collective business volume of Rs 4.50 lakh crore. They lend primarily to small farmers and artisans. "The committee had suggested steps with a view to improve productivity in RRBs," Mitra told ET on Thursday .
"RRBs need to redeploy people and re-skill them according to the need. The future profile of RRB employees should match the requirement of modern banking," he said. RRB employees have decided to resist this move as they see this as being impractical given the nature of RRB business.
IBA circular fixing pay of ex-servicemen staff stayed-Hindu Business Line-22.03.2015
The Kerala High Court has ordered an interim stay on a circular issued by the Indian Banks’ Association (IBA) fixing pay for ex-servicemen employed by public sector banks.
It has issued notices in this regard to the Finance Secretary, Government of India, represented by the Assistant Solicitor-General of India; the IBA; Chairman and other officials of State Bank of India.
Ex-servicemen employed by public sector banks have alleged discrimination at the hands of the IBA in the fixation of pay in accordance with a new circular.
They allege that the IBA had misinterpreted and violated not only established policies and existing guidelines in the matter but also instructions issued by the Finance Ministry.
The latter had presumed that components not mentioned in the definition of pre-retirement pay in the Ministry of Defence office memorandum (OM) of July 24, 2009, need not be protected. It had dealt with pay and allowances of retired armed forces officers on re-employment in the armed forces itself.
But pay fixation is a benefit extended only to ‘personnel below officer rank’ on re-employment in Group C and D posts in public sector undertakings. The IBA referred to inappropriate and insufficient data, and grossly misinterpreted as well as violated many existing Government policies and guidelines, the ex-servicemen alleged.
The Finance Secretary’s own letter dated December 30, 2013 clearly instructed IBA to clarify the date of implementation of these guidelines, and the mode of tackling effect of financial implications, which it did not adhere to.
Most PSU banks complete pay fixation of ex-servicemen re-employed after six months of joining. The pay is fixed at a stage just above the last drawn pay by them, which is the correct method to do. But the IBA has asked to review the pay fixation done so as per their new guidelines, which will result in removing the major part of the pay so fixed. The very purpose of re-fixation for protecting the last drawn pay by ex-servicemen will be defeated in this manner, the ex-servicemen allege.
Recovery of the pay already paid for the last three or four years from their salaries would also result in huge financial loss to individuals and imbalance their financial stability.
Accept cash deposits, or face deterrent action: SBI warns staff
Vinson Kurian -Hindu Business Line
State Bank of India has warned of deterrent action against employees refusing to accept cash across the counter. The bank has sent a circular dated March 17, 2015, to branches following complaints from customers about non-acceptance of cash at the counter.
It said customers were being directed to/forced to deposit their cash at cash acceptor machines/cash deposit machines installed at select branches. The circular pointed out that cash acceptor machines/cash deposit machines are only meant ‘to facilitate customers to deposit their cash as per their convenience.’
It reiterated that ‘therefore, the facility of using the alternate channel of cash deposit machines is optional for customers.’ “Any customer who wishes to deposit cash at the counter should not be forced to deposit their cash at these machines,” the circular issued on behalf of Chief General Manager, Banking Operations, said.
The cash deposit machine, better known as CDM, is an ATM-like machine that allows a customer to deposit cash directly into his/her account using the ATM cum debit card.
One can use this machine to instantly credit one’s account without visiting the branch. The transaction receipt also gives the updated account balance. A quick and convenient way to deposit cash, it facilitates instant credit of cash deposit through paperless transaction. The per-transaction limit is ₹49,900.
Up to 200 currency notes can be deposited in a single transaction but the CDM accepts only denominations of ₹1,000, ₹500 and ₹100.
Other services available include PIN change; change of password at regular intervals; and balance enquiry.
The last mentioned is available on the main option screen after swiping your card. One can also ‘go green’ by selecting the ‘view’ option as the balance is displayed on the screen. Else, one can get a transaction receipt by selecting ‘print.’ The CDM also provides a mini statement of account giving an insight into the last 10 transactions of the account.