Wednesday, November 25, 2015

Comparison of 7th P.C Pay and Bank Employees Salary!!

Salary as per 7th P.C and Salary of Bank clerk is given below.
Lower Division Clerk (LDC) and Upper Division Clerk (UDC) are general term used. Various departments will have different names for their dept., posts. But, salary will be based on this Pay Band only.
From the recommendations , it is observed that huge increase is given to officers on the higher ranks. 
In lower levels the increase is not as expected.
I have just given the actual figures. 
It is upto you to judge.

Friday, November 20, 2015

7th Pay Commission Report!!

Much awaited 7th Pay commission report is submitted to the Govt.,

Note , it is recommendation only. Govt., has to approve it. Govt., has the right to increase, decrease or change any provision.
Govt. will appoint a small committee to scrutinize and report about implications on effecting the commission’s report. Therefore, we have to wait for the final outcome.

Comparing CG employees wages with Bank employees will be of no use as their wage bill is paid out of Budget allocation, whereas our wages or paid out of profit earned. Political Bosses can give any amount of increase at their will and pleasure based on various factors.

Of course it is a fact they are already drawing more than bank employees from 5th Pay commission.

Unions for CG employees termed the report as most disappointing and retrograde recommendations. Unlike Banks Bi-partite system, in Cental Govt. Unions can place demands thro representation only. Consultative meetings will be held by Commission, where Unions can express their view. It is commission’s own decision to finalise the increase and give its recommendation to Govt.
(Unions objections circular is reproduced at the end of this post)

From the data available as of now, following are my view:

1. The commission report is finalized much before the expiry of previous wage arrangement. It is a welcome aspect. (When it will be given effect is still a question)
2. Increase of 23.55% for a period of 10 years is a disappointing aspect. It works out to 11.7% for a 5 year settlement.
3. Conversion factor 2.57 is nothing but merging of prevailing D.A.119% and then increasing Basic pay by 16% (it will be 8% for five year). But, in Bank only 2% is increased after merging of D.A. But, 7.75% is given separately, depriving after retirement benefits.
4. Abolition of 52 allowances will affect a section of employees.
5. Annual increment will be 3% as in the past. In Banks annual increments are higher (around 5%)

Wednesday, November 18, 2015

C/o IDBI Bank Ltd., IDBI Tower, Cuffe Parade, Mumbai-400 005
October 26, 2015
Dear Comrades,


United Forum, vide its Circular dated 6.10.2015 had declared the “Programme of organizational action” in protest against the contemplated move of the Government of India to Privatise IDBI Bank Ltd by diluting its share-holding to below 51%. We congratulate you for participating the programme with commitment and full vigour. Unfortunately, press continues to report about Government’s intentions to privatize IDBI Bank Ltd. It has, therefor, now been decided to intensify our programme. The dates for implementation of the “Day-long Dharna Programme” and “One Day Nation-wide Strike Action” are as detailed below :

UFBU supports Strike in SBI Associate Banks

State Sector Bank Employees' Association (SSBEA) Circular on On-Going Agitation in the Associate Banks
SSBEA Circular No. SSBEA/GS/2015 dated 09-11-2015
We are given to understand that the Managements of Associate Banks at the instance of State Bank is putting up misleading information in the Nest by showing some tentative benefits which is likely to accrue on accepting Career Progression and also a letter by the Managing Director informing the employees that if any of them are coerced or threatened to sign a letter of Protest, the same should be brought to the knowledge of General Manager (HR). We have gone through the Notice to the Employees put up on the Nest as well as the Chart indicating the benefits that are likely to accrue on account of Career Progression. Not surprisingly the Managements have once again indulged in misleading our members. The following are the few such points where the Management has deliberately attempted to mislead our members.
1. A comparison is made only on the allowances drawn by the employees as per Bipartite Settlement and the tentative benefit that are likely to be accrued through Career Progression Scheme.. However, the duties and the Passing Powers have not been informed to the employees. It is left to anybody’s arithmetic knowledge that when we are getting Rs. 1930 as Special Allowance for passing Rs. 35000/- in cash and Rs. 1,50,000/- in Transfers, what will be the corresponding allowance that is to be paid for passing Rs. 2,00,000/- in Cash and Rs. 5,00,000/- in Transfers. Obviously the Allowance will be more than Rs. 7000/-.

Monday, November 16, 2015

IBPS IV 2nd batch

Corpoarte Office,
HRM Department
Chennai 600 014

We are pleased to inform that 93 candidates as per Annexure-II of our
notification dated 02.10.2015 have been provisionally selected for
appointment as Clerk in the Bank subject to verification of original Credentialsat the time of reporting, i.e., on 30th November 2015 at Staff Training Centre, Vijayawada.

The provisional list is prepared at our end based on the scrutiny of the photo-copies of documents submitted by the candidates at the time of Interview.

The selection is purely provisional, subject to these candidates being found medically fit and submission of documentary evidence in original to the satisfaction of the Bank in respect of Age, Educational Qualification, Category/Caste and Disability at the time of joining the Bank, failing which the candidature will stand cancelled and the candidates will not be allowed to join the Bank.

Documents in respect of Category/Caste and Disability should be as per the formats prescribed by Government of India.

The reporting date for the candidates listed as per Annexure will be 30th
November 2015 at Staff Training Centre, Vijayawada, Andhra Pradesh. The Offers of Appointment containing the required formalities will be issued by the respective Zonal Managers to the candidates individually.

All concerned are notified that decision of the Bank in respect of all matters pertaining to this Recruitment would be final and binding on all the

We wish the candidates a rewarding career in the Bank.

Chennai Deputy General Manager (HRM)
November 16, 2015

Sunday, November 15, 2015

RBI Employees Strike over Centre Move on November 19
By Express News Service Published: 15th November 2015 06:02 AM Last Updated: 15th November 2015 06:02 AM

BHUBANESWAR: Around 17,000 employees of the Reserve Bank of India (RBI) have decided to launch cease-work on November 19 protesting the Central Government’s move to draft a financial code and legislative reforms.
As per reports, the Ministry of Finance is giving a final shape to shift Government’s debt management functions from RBI to the proposed Public Debt Management Agency (PDMA) which will function as depository of Government securities (G-Sec).
“The proposed PDMA would clip financial autonomy vested with the RBI which is relevant to the money market and affect fiscal federalism as well,” said secretary of Reserve Bank Employees’ Association (RBEA) PC Behera.
Over 400 employees of the Central bank in the State have informed RBI’s Bhubaneswar-based Regional Director for seeking mass casual leave to participate in the protest.
The RBI, by using its financial instruments, has been able to control Indian economy from crumbling during the global economic recessions of 2008 and 2011. “The Central bank has never surrendered to the Government pressure for lowering bank interest rates which would have severe impact on the national economy in the long run,” Behera added.
The bankers also opposed the proposed mechanism of the Central Government for setting up a Monetary Policy Committee (MPC) comprising seven members out of which three would be representatives from RBI. They have insisted that PDMA and MPC should be under a single authority.
For quite some time, the past Governments have been mounting pressure on RBI to mould its policies as populist ones. But the authorities of the bank have not agreed to the Centre’s proposal. Therefore, the current Government is virtually keen to take over the functions of RBI under the pretext of legislative reforms, a bank employee alleged.
The strike would hit a transaction of more than `1000 crore directly or indirectly in the State, source said.
Other demands raised by the employees are upgrading of pension and giving one more pension option for employees who are currently deprived of it in post-retirement.
Pension issue

The RBI staff members have also been pursuing the demand for improvement in pension, as their basic pension once fixed, does not increase.

Though the RBI’s pension scheme is similar to that of the Centre’s, RBI pensioners are not entitled to periodic revision in pension. Revised pension was granted to pre-2002 retirees by the RBI Central Board, but the government withdrew it unilaterally, Ghosh said.

Having failed to get an improved pension scheme despite peaceful ways of protest over the last eight years, the RBI staff and retirees are compelled to mobilise and prepare for a fight, he added.