ALL
INDIA BANK OFFICERS' ASSOCIATION
Circular No.6/VI/2014
March 4, 2014
To:
ALL UNITS / STATE COMMITTEES
Dear comrades,
WAGE REVISION 9TH
ROUND
STUCK AT MID WAY
The talks scheduled to be held on 13th
February 2014, after our 48 hours strike, was to be postponed due to the
preoccupation of the Chairman Negotiating Committee, IBA with the
external authorities outside the country. Hence the 9th
round of wage talks, was held at Mumbai, with all the eleven unions, as
usual yesterday.
2.
The IBA team was headed by Shri T.M.Bhasin, Chairman, Negotiating Team,
Shri Rajiv Rishi, CMD, CBI, Shri R.K.Dubey, CMD, Canara Bank,
Dr.J.N.MIshra, DMD, SBI, Shri Shyam Srinivasan, CEO, Federal Bank, Shri
Rakesh Sethi, ED, PNB, Shri M.V.Tanksale, CEO, IBA and Shri
K.Unnikrishnan, Dy. CEO besides IR department officials of IBA.
3.
It was bolt from the blue
IBA stuck to 10% wage increase on payslip components by reasoning
alarming increase of bad loans in the Bank, huge provisioning for
pension as per the AS15 besides other
external compulsions though it is not
mandatory. The 48 hours strike in February 2014 clearly demonstrated
the seething anger of the workforce who are denied to have the share in
the Gross profit cake ie; a minimum of 10% on the gross profit for the
year ended 31.03.2012.
4.
The offer of the IBA was rejected by all the representatives of the
Unions in one voice. The other issues prioritised by UFBU in the
morning meeting, were effectively placed to IBA team viz.,[i]
5 days Banking [ii]
Regulated Working hours for officers [iii]
improvement in Pension related issues [a]
updation of pension [b]
100% DA Neutralisation and [c]
Family Pension [iv]
100 reimbursement of hospitalisation expenses [self, spouse and
dependents].
5.
The IBA proposal of 10% [ie] in quantum wise, payslip component of
Rs.3150 crores together with Rs.260 croes for allowances etc., resulting
in an overall cost of Rs.6740 crores with a condition tagged in the
matter of loading of 2% for construction of pay scales. The new
emerging external environment in the matter of release of 10% to Central
Govt., Employees and retired employee [to benefit 50 lacs + 30 lacs]
coupled with merging 50% DA with basic pay as one of terms of the
reference in the 7th Pay Commission having a financial
impact of over Rs.11000 crores, besides an agreement recently arrived
in the steel sector exclusively for [BP + DA] increase and an interim
relief of 27% considered by A.P.Govt.
6.
Tomorrow, the Chiefs of the PSBanks are scheduled to have a meeting with
Hon’ble Finance Minister and also Secretary, DFS. As per the reliable
information one of the items listed for discussion is wage revision in
the Banking Industry. IBA has informed that they will revert back after
the meetings to inform the position to unions
7.
AIBOA, as already expressed in clear terms, in retaliation to the FM
statement on 11.02.2014, that we need reasonable respectable wage
increase considering the four factors-risk, responsibility,
accountability and transferability and also wage differentials earlier
arrived at on account of Pay Commission from PCR period 1974.
8.
Every item is linked to a cost. In the absence of the quantification of
the cost on the issues raised in this round, IBA sought time to respond
to our basic demands.
If we put it, the talks are stuck at midway, it is
not an exaggeration.
Await developments.
Yours comradely,
/S.NAGARAJAN/
GENERAL
SECRETARY
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