“As per the understanding between unions and IBA, bank employees are likely to get another option for pension and wage hike of 17.5 per cent,” the official said. The hike would come into effect from November 2007 for a period of five years. Nearly 1 million bank employees are likely to benefit from the wage revision which is likely to cost the banks nearly Rs 4,800 crore annually.
“Employees opting for the pension now will have to share 30 per cent of the burden, while remaining 70 per cent will be borne by the banks,” the official said. The total outgo on account of a fresh option for pension is likely to be Rs 6,000 crore on annualised basis.
“Of this, Rs 1800 crore will be shared by the employees while the remaining Rs 4,200 crore will fall on banks,” the official said. Nearly 250,000 bank employees will benefit from the fresh option for pension.
“Some ground has been covered. It’s difficult to say how close we are to reaching an agreement. There are still some hurdles,” CH Venkatachalam, said convenor, United Forum of Bank Unions. United Forum of Bank Unions, an umbrella organisation representing nine major banking trade unions, represents about 1 millon bank employees and officers from across the country.
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POOR STATUS OF BANK EMPLOYEES LIKELY SCENARIO
ALL STATE GOVERNMENTS ONE BY ONE ARE FALLING IN LINE IN IMPLEMENTING THE SIXTH PAY COMMISSION RECOMMENDATIONS IN TOTAL TO ALL SECTORS OF EMPLOYEES. VERY GOOD.IT SHOWS THE CONCERN OF THE RESPECTIVE GOVERNMENTS ON ITS EMPLOYEES. CENTRAL GOVT IS SUPPOSED TO BE THE BOSS OF NATIONALISED BANKS INCLUDING SBI . WHY THIS IBA IS ACTING WITH A NEGATIVE ATTITUDE. NO GOVT HAS IMPLEMENTED THE PAYSCALES WITH A SURPLUS BUDGET AND SURPLUS FUNDS AVAILABILITY FROM THE CONSOLIDATED FUND OF INDIA. EVRRYBODY IS AVAILING OR BORROWING HUGE CREDIT TO MEET OUT THE SALARIES. WHEN THE GOVERNMENTS ARE SO GENEROUS WHY BANKMEN ALONE BEING SINGLED OUT FOR A STEP MOTHERLY TREATMENT. EVEN THOUGH FUNDS ARE AVAILABLE WITH IN THE BANKING SYSTEM. WHO IS GOING TO ANSWER . WHO IS GOING TO RECTIFY THE MISTAKES THAT IBA/UBFU ARE COMMITTING OR GOING TO COMMIT IN THE NAME OF WAGE HIKE .THE STATUS OF OUR EXECUTIVES WILL BE VRY PATHETIC AFTER THE WAGE EROSION.INITIATIVE WILL SLOWLY DETERIORATE AND THE INDUSTRY WILL DEFINITELY BECOME SICK AS TALENTS CAN NOT BE ATTRACTED WITH THIS POOR SCALE OF PAY. IF THE GOVT REALISES THE MISTAKE THAT THEY ARE DELIBERATELY COMMITTING NOW AT A LATER DATE AT THAT TIME EVEN RECTIFICATION WILL BE DIFFICULT AS THE PERSONS ALREADY ENTERED IN TO THE SYSTEM CAN NOT BE ASKED TO LEAVE. ALL ON A SUDDEN.WISER COUNCIL SHOULD PREVAIL ON ALL THE PERSONS CONCERNED AND LET THEM CONSIDER BANK EMPLOYEES ALSO ON PAR WITH CENTRAL GOVT EMPLOYEES AND IMPLEMENT THE PAY SCALES STRAIGHT AWAY BY NOTIFICATION INCLUDING THE PENSION BENEFITS TO ALL INCLUDING THE RETIRED PERSONS AS PER THE PENSION REGULATION OF THE GOVERNMENT .THE PROPOSED 17.5% WAGE HIKE IS TOTALLY INADEQUATE.
ALL WE ARE WRITING MAY BE USEFUL ONLY IF THE PERSONS CONCERNED VISIT THIS BLOG AND GO THRO THE COMMENTS OTHERWISE IT IS NOT GOING TO HELP.
KBALASUBRAMANIAN EX BANKER
yes , i am agree with mr KBALASUBRAMANIAN . but to correct it i/we dont know.
I TOO AGREE WITH MR KBALASUBRAMANIAN. YES IF CORRECTIVE STEPS ARE NOT TAKEN AT RIGHT TIME THE MISTAKE CANNOT BE SET RIGHT
In these days, it is a trend of pleasing the voters. In many states employees play a major role in formation of Governments. So that is why Center and all the state governments have implemented the report of the Pay Commissionn with some improvements. This trend began in eighties when Mr. Rajiv Gandhi was prime minister and it is being followed. See the Manifesto of INLD (Haryana) who have promissed so many things. It is a matter of fact that Bank Employees are not Voters but they are sincere workers for which they are being punished. So friends we have to act as voters otherwise we will suffer.
AIBOC HAS ADDRESSED A DETAILED LETTER TO THE FINANCE SECRETARY EXPLAINING THE RATIONALLE BEHIND THEIR DEMAND FOR PARITY BETWEEN THE VITHPAYCOMMISSION SCALES IN RESPECT OFCLASS I OFFICERS AND BANK OFFICERS INCLUDING HRA OF 30%. BEFORE GOING FOR NEXT ROUND OF TALKS LET THE UFBU CAN FOLLOW UP THE MATTER AND SEE WHETHER THE FINANCE MINISTRY HAS FORWARDED THE LETTER TO THE NEGOTIATING COMMITTEE FOR IBA AND OPEN ITS EYES. OTHERWISE LET PM AND FM CAN SUMMON IBA AND ISSUE SUITABLE INSTRUCTION TO IMPLEMENT THE PAY PACKAGE IN TOTAL. THIS IS THE ONLY BEST OPTION FOR THE BETTERMENT OF BANK OFFICERS. THE EMPLOYEES SALARY CAN BE COMPUTED FROM THE OFFICERS SALARY DIRECTLY. IT WILL ENSURE STRAIGHTAWAY 60% INCREASE. BEST OF LUCK
UFBU SHOULD NOT FALL INTO THE PRESSURE TACTICS OF IBA AND ALSO ITS NOT NEGOTIABLE CLAUSE. INSTEAD THEY CAN ASK THE JUSTIFICATION OF THEIR PROPOSAL. OR UNIONS CAN ASK STRAIGHT AWAY ON IBA S FACE THAT WHAT ARE THEIR CONDITIONALITIES TO ACCEPT BANK EMPLOYEES ALSO EITHER AS GOVT EMPLOYEES OR PUBLIC SECTOR EMPLOYEES AND PAY INTOTAL VI TH PAY COMMISSION SCALES INCLUDING PENSION UPDATION ETC FOR ALL OR MORE WAGES AS APPLICABLE TO NAVARATHNA COMPANIES OF PUBLCI SECTOR BECAUSE ALL BANKS ARE EARNING ENORMOUS PROFIT . IF THE REPLY IS NOT SATISFACTORY THE UFBU SHOULD DIRECTLY SEEK THE INTERVENTION OF PM AND FM AND BOYCOTT TALKS WITH IBA .UNTIL AND OTHERWISE HARD STEPS OR MEASURES ARE NOT TAKEN THE DREAM OF THE BANK EMPLOYEES WILL BE SHATTERED INTO PIECES AND BANK EMPLOYEES WILL LOOSE ALL THEIR INITIATIVE AND REGRETTING THEMSELVES ABOUT THEIR FATE OF BEING A BANK STAFF AND GETTING POOR WAGE REVISION FOR NONE OF THEIR FAULT.
hello BALAN sir,can u explain how will we get a 60% overall increase in salary if the HRA gets increased to 30%..
n one more thing if the 17.5% is finalised,thn by how much percentage will our overall salary increase.?
UFBU Vs BANK OFFICERS AND EMPLOYEES Vs IBA Vs GOVT
As a retired senior officer who is following these wage revision process since 1976, year of my joining in clerical cadre, I am submitting the following analysis to all the persons concerned.
After bank nationalization during 1969 by our beloved late prime minister Smt Indira Gandhi, banking industry started expanding in an exponential way. Thousand s of clerks and officers were recruited during 1972-1982 majority of them are graduates and post graduates. Since industry got expanded promotional avenues were opened and clerk joined during 1976-1980 got quick promotions in 4 or 5 years with CAIIB qualification. Several central government young officers also joined bank as officer because of the attractiveness of the pay scale and perks .
I also resigned my lecturer job at Annamalai university TO JOIN AS A CLERK IN INDIAN BANK because of the expansion mode and career opportunity. I have drawn my first salary as 512 rupees as against the lecturer salary of 620 inclusive of all allowances. Officers salary was more than the CLASS I OFFICER SALARY AND COLLEGE LECTURERS SALARY.
In 1979 PILLAI COMMITTEE recommendations were implemented for bank officers in the name of STANDARDISATION OF PAY SCALES. Bank officers basic salary was brought down to the salary of the class I officers.
BANK OFFICERS SCALE I , IAS OFFICERS, UNIVERSITY LECTURERS ALL WERE PLACED ON 700 basic salary on the same CONSUMER PRICE INDEX LEVEL.
DURING 1989 IV th pay commission with 30%, during 1998 v th pay commission with 30%, during 2008 VI th pay commission with more than 40% with grade pay liberal HRA and all made the difference between the CENTRAL GOVT employees and bank employees.BY MORE THAN 70 TO 80%
Centarl govt officer starting salary 15600 plus gradepay 5400 plus DA 27% HRA 30% , CONVEYANCE ALLOWANCE 1000 ETC THE TOTAL IS AROUND 34000.
BANK OFFICER BASIC 10000PLUS ASSUMING 20% MERGER AND 15% INCREASE , THE MAXIMUM STARTING BASIC MAY BE 14000 ONLY WITH 25% AND 10% HRA AND MEAGRE CCA THE MAXIMUM CAN NOT EVEN TOUCH 20000. SO THERE IS A DIFFERENCE OF AROUND 13000 TO 14000 IN THE STARTING PAY.
(TO BE CONCLUDED)
UNLESS AND OTHERWISE UBFU IS SERIOUSLY TAKING UP THE MATTER WITH THE FINANCE MINISTER OR PRIME MINISTER DIRECTLY BANK EMPLOYEES WILL NOT GET JUSTICE.
CENTRAL GOVERNMENT IS PLAYING THE CARDS WELL AND DENYING THE PRINCIPLE OF NATURAL JUSTICE AND EQUAL PAY BECAUSE UBFU MAIN AGENDA IS TO GET THE PENSION BENEFITS TO ALL WHICH IS EQUALLY IMPORTANT . FOR EVERYTHING WHEN MONEY IS AVAILABLE AS PROFITABILITY AND PER CAPITA BUSINESS EVRYTHING IS UP AND OFFICERS AND EMPLOYEES ARE WORKING VERY HARD WE DON’T KNOW THE REASON FOR THIS PARTISAN ATTITUDE.
AFTER AVAILING THE VRS 2001 SCHEME WITH A PENSION OF 5000RUPEES AND WITH THE MERCY OF SUPREMECOURT GOT 5 YEARS ADDED AS PER THE SCHEME WHICH IBA VEHEMENTLY OPPOSED AND WITHOUT ANY UPDATION OF PENSION I AM NOW DRAWING APENSION OF 11000. HAD I CPNTINUED AS A LECTURER I WOULD HAVE DRAWN A SALARY PF 65000 AND A NEAT PENSION OF 27000. CRUELTY OF FATE.
WHAT HAPPENED TO ME SHOULD NOT BE ALLOWED TO HAPPEN TO LAKHS OF EMPLOYEES WHO ARE EAGERLY EXPECTING DECENT WAGE REVISION. EVEN RETIRED PF OPTEES AND PENSION OPTEES ARE EXPECTING PENSION OPTION, UPDATION OF PENSION AS APPLICABLE TO CENTRAL GOVERNMENT EMPLOYEES.
WHO IS GOING TO BELL THE CAT?
WHY POOR BANKMEN ARE GETTING SHABBY TREATMENT?
WHY GOVERNMENT IS KNOWINGLY PUT HURDLES IN THE BANKMEN WAGES?
WHY UNION IS NOT SHOWING ITS FULL BARGAINING STRENGTH AND HIGHLIGHTING THE GLARING DIFFERENCE EFFECTIVELY?
BANKING SECTOR IS THE ONLY SECTOR IN THE ENTIRE COUNTRY GETTING THE SHABBY TREATMENT.
IF THIS SECTOR BECOMES SICK AND THE PERSONS LOOSE INTREST IN PERFORMING THE DUTIES THEN THE ENTIRE ECONOMY WILL BE AFFECTED AS THE DELIVERIES FROM THE FINANCIAL SYSTEM MAY NOT BE TO THE EXPECTATIONS OF THE GOVERNMENT/
WILL THE BANKS GO FOR IIMS CAMPUS RECRUITMENT WITH THIS POOR PACKAGE . THEY HAVE TO OFFER DIRECTLY DGM POST SO AS TO MATCH THE SALARY OF THE BEGINNERS.
ALL THE RIGHT THINKING PERSONS WHEREVER THEY ARE SHOULD COME TO THE RESCUE OF THE BANK EMPLOYEES IN THE INTEREST OF THE NATION.
K BALASUBRAMANIAN RETIRED SENIOR MANAGER UNDER VRS 2001 SCHEME - INDIAN BANK- OPTED FOR PENSION
Dear sri Balan sir,
I am also a retired sbi officer of your contemporary seniority, albeit retired on superannuation(on 31.05.2008) First of all,I would like to request you to let me know on the following:-
a) the position relating to retrospective effect of gratuity ceiling of R.10 lacs;
b) whther pension to sbi retirees will be automatically according to the 9 bipartite revision.
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