Friday, February 28, 2014

Reply to F.M. By his own men!!

Following fitting reply to F.M. by AIBOC now it is the turn of INBEF (a wing of INTUC/Congress Party) 
Our greetings to INBEF!!

Indian National Bank Employees’ Federation
(A Banking Wing of INTUC)

INBEF/GS/SSS/2014/05                                                                      21st February, 2014

Recently, on 11th February 2014, i.e. on the second day of Banks’ strike, Mr. Chidambaram, Finance Minister, Government of India has categorically said on the occasion of Indian Overseas Bank’s 78th Foundation day celebration in New Delhi that,
“It cannot be that all profit is
used to declare dividend and to
provide enhanced wages and allowance
to Bank Employees”

On the same occasion, he admittedly said having infused capital of Rs. 35,000 crores in 2011-12 and Rs. 37,936 crores in 2012-13 to maintain the capital adequacy norms in various Banks which became overburdened due to N.P.A. He reportedly further said that the NPAs rose to Rs. 2.36 lakh crores in September 2013 from Rs. 1.83 lakh crores in March 2013.
Now to our Finance Minister, who has graduated from Harvard University it is not unknown to him that in the labour intensive industry like Banking, the wage of the employees’ are only the factors of production and not production “perse”, meaning that Bank employees’/officers produce the services and earn profit by making use of other three factors of production including capital.
Ironically, Mr. Chidambaram tries to impress upon that after major chunk of profit being marked to owners (i.e. to the Government, major shareholder and the public), whatever profit is left should go to the provisioning of huge NPAs and the residual profit must be given to bankmen,  that too after infusing major portion as capital.
This type of allocation of profit is nothing but “Robbing Peter to pay Paul” as planned by our Finance Minister.

Thursday, February 27, 2014

Government Employees retirement age!

For the past two days the news of 
"Central government Employees retirement age will be raised 
from 60 to 62"
in the news papers, TV channels. blogs and social media.
With the expectation of extending the same to Bank employees.
I received many phone calls for confirmation of the news and

 possibility of extending the same to us.

Friday, February 21, 2014


 DATE: 21/02/2014

AIBOC has released a Press release in the captioned subject and requested to circulate among public, customer and employees of other sectors.


Historically, salary revision for bank officers from Assistant Manager to General Manager is being done at industry level by IBA once in five years and so far nine Bipartite Settlements have taken place and Joint Notes were signed between IBA and representatives of Officers’ Organisations.

The four Officers’ Organisation have submitted a combined Charter of Demands to IBA  on 30th

October 2012, before the due date for the commencement of negotiation for the 10th Bipartite Settlement which was due from 01.11.2012.

Even though one and a half year have passed, no forward movement has taken place with regard to our Charter of Demand except an understanding arrived at on two issues Viz. 1) Date of Effect from 01.11.2012 and 2) Merger of DA at 4440 points.

This time, it has been consciously decided by IBA and Unions that the negotiation will be on Salary components only and its impact on Superannuation Cost will be borne by the banks. Accordingly, IBA has decided to offer salary increase on Payslip Components (Basic Pay, DA, HRA, CCA and Annual Medical Aid) as against Total Establishment Expenses hitherto being followed.

Having settled for 17.50% on Total Establishment Expenses ( higher quantum) during last Bipartite, IBA has made an initial offer of only 5% salary increase on “pay slip component”

(lower quantum) which was enhanced to 9.5% after a Strike Call and finally improved the offer by 0.50% i.e. from 9.50% to 10% on 27th January 2014. Since the offer of 10% amounting to Rs.3150 Crore was lower than the last settlement commencing from 01.11.2007 amounting to Rs.3300 Crore and IBA was not willing to negotiate further on load factor, we were forced to go for 48 hours strike on 10th and 11th February 2014.


Thursday, February 20, 2014


 Circular No. UFBU/2014/20 of date on the captioned subject for your information,

“The representatives of the constituent Unions of UFBU met today at Mumbai to review the situation subsequent to the historic success of 48 Hours’ All India Bank Strike from 6.00 a.m. on 10.02.2014 to 6.00 a.m. on 12.02.2014 and also to decide on future course of action for expediting the wage revision at the earliest.

All the representatives have expressed in one voice that the two days’ strike was responded massively by the bank men all over the country and placed on record their highest appreciation and congratulated the entire membership of UFBU for the historic success. Quoting the massive participation of bank employees and officers in the demonstrations, rallies and processions held all over the country as part of agitation programmes on the strike days, the representatives expressed that the total participation has clearly displayed the frustration in the minds of employees on the undue delay in the wage negotiations despite the fact that UFBU is making all out efforts for a respectable and reasonable wage settlement consciously keeping in mind even the affordability of banks while making attempts to ensure adequate wages to the bank employees and officers considering the wages in comparable sectors and also the financial burden on the bank employees on account of uncontrolled spiraling cost of inflation.

The meeting took serious note of remarks of Shri P. Chidambaram, Hon’ble Finance Minister that ‘profits of banks are not for wages of employees alone’ without giving any cognizance to the just reasonable demand of employees for their due and legitimate share particularly when banks are making good profits. The meeting further observed that the remarks of Finance Minister as fallacious, as it has been made by consciously ignoring the fact that Public Sector Banks have netted a huge profit of about Rs.46,000 Crores during the last fiscal even after providing about Rs.65,000 Crores towards writing off of bad loans and provisioning for Non-performing Assets.

The meeting deliberated at length on the strategies to be adopted on all the areas relating to the formulation of Scales of Pay duly considering the various cost factors such as fixed cost, variable cost and so on towards clinching a reasonable wage revision.

The meeting also discussed in detail on the future action programmes and with the hope that the historic success of Two days’ All India Bank Strike might serve as an eye-opener to IBA-Government combine towards amicable settlement. It was unanimously decided to chalk out further course of action based on the outcome of meeting with IBA, which is scheduled for 3rd March 2014.

Comrades – we are still on war path and there will be no backward movement in our agitation programmes, if no significant improvement is made by IBA in the bilateral discussions scheduled for 3rd March 2014. Hence, we request all our constituent unions and members to be in readiness for further agitational actions, including prolonged strike programmes, if need be.

We once again wholeheartedly congratulate the entire membership for the historic success of 2 days’ All India Bank Strike on 10th & 11th February 2014 and request the rank and file of members to continue to display their solidarity and total support for achieving success in our entire endeavor.”

Tuesday, February 18, 2014

Ex-servicemen salary fixation!!

Many Ex-servicemen asking for clarification for thier fitment of salary in Bank.
Here is the latest clarification/circular issued by IBA/Govt.

You may calculate your fitment amount and represent to your bank, if u r eligible for an higher Pay.

Indian Banks’ Association
HR & Industrial Relations
No. HR&IR/CIR/2013-14/589/8764                                                                        January 30, 2014

To Chief Executives of Public Sector Banks
Dear Sir,
Pay Fixation of Ex-Servicemen Re-Employed in Public Sector Banks
We refer to our letter No. HR&IR/CIR/2012-13/76/589/5850 dated 6.9.2012 regarding re-fixation of pay of ex-serviceman re-employed in Banks on or after 1.1.2006.
2.            Keeping in view the fact that all the Public Sector Banks are enjoying autonomy in their HR matters, the Ministry of Finance, vide its letter dated 22nd March, 2013, requested IBA to frame uniform guidelines for fixation of pay of Ex-Servicemen upon their re-employment in PSBs, in consonance with the Government of India’s policy in the matter and the principle of fairness. The letter further stated that the system of re-employment should be reviewed comprehensively to allow Ex-Servicemen to have their pay protected upon re-employment in PSBs. IBA was requested to have these issues considered and examined in consultation with the PSBs and send their considered opinion/comments to the Ministry of Finance, Department of Financial Services for necessary action.

Sunday, February 16, 2014



 Phone:011-23730096 Tel/Fax 23719431  
Circular No. 2014/19 Dated: 13/02/2014 

Dear Comrades, 


While we share the anger and anguish of our membership over the statement of Hon’ble Finance 
Minister, Sh. P. Chidambram on the occasion of 78th
 foundation day of Indian Overseas Bank on 
10thFebruary,2014, we also thank him for once again (he is already on record in Parliament that 
profitability of the banking industry is increasing) accepting the fact that BANKS ARE EARNING 

 We also agree with him that Banks’ profits are not for enhancing the wages, but, we 
also wish to remind the following:

1. The Prime objectives of the Nationalisation were to bring parity in the society which was 
branded as a major bold and historical decision of the century by late Smt. Indira Gandhi, 
the celebrity Prime Minister of the country. 

2. Nation had acknowledged that it was historical as it believed that prime focus after 
Nationalisation would be poverty alleviation by upbringing the rural poor through various 
welfare schemes introduced and implemented through nationalised banks. 

3. The workforce of the Nationalised banks also responded fittingly by spreading its presence 
from 8000 to more than 80000 branches since Nationalisation, in every nook and corner of 
the country, dedicated and devoted their lives in executing government’s initiatives and 
policies, unmindful of personal comforts, participated whole heartedly in the nation building 
by way of uplifting the downtrodden above poverty line. 

Wednesday, February 12, 2014

UFBU's circular on Two days's Strike!

Note: Next UFBU meeting on 19.02.2014 for discussing about the future course of action.

UFBU's circular  No. UFBU/2014/19, dated 
11.02.2014, issued on Two days's Strike! 

..................We once again reiterate that the intention of the UFBU is neither to cause 
inconvenience to the customers nor loss to the country’s economy. The strike could 
have been avoided, but for the recalcitrant attitude of the IBA and Government 
combine in not coming forward with an improved offer paving the way for a 
respectable and reasonable wage revision. We do appreciate the stress on the 
balance sheet and the constraints on the IBA but at the same time, what is being 
demanded is not unreasonable and difficult to consider. The responsibility and the 
duty of the employees and officers towards ensuring growth in business, 
productivity and generating increased gross income has been fully discharged. The 
fact is fully evidenced by double the growth in net profits of Banks despite 
appropriation of more than 60% of the income generated towards writing off and 
provision for NPAs. 

Tuesday, February 11, 2014

Dear Comrades!

Dear comrades,

From the status posted so far you might have come to a conclution that I am a blind supporter of Unions and will support and justify whatever unions do.
I wish to clarify, that I want the system of unionism and united struggle should not be derailed at any cost. Only being a member of union, and the protection given by labour laws (Hard earned by our forefathers) an employee is differentiated from a slave.

Monday, February 10, 2014

Govt. and IBA reacts to our strike!

Today two different news has come.

1. IBA has cancelled the meeting with UFBU scheduled on 13.02.2014

2. Our Finance Minister, for the first time after nagotiations started come with his views.
It is reported that “As public sector bank employees started a two-day strike today seeking higher wages, Finance Minister P. Chidambaram said the profit of banks cannot be used only to enhance salaries because there are other obligations.“I will appeal to employees and officers of banks to recognise that banks profits, banks earnings have other claims. 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 to banks’ profit,” he said.
(Indirectly giving message to the general public, that Bank employee’s demands are not reasonable and they are very greedy.Who are other claimants? NPAsand write offs?)
I dedicate this news to comrades,

Thursday, February 6, 2014

Outcome of conciliation meeting dt.06.02.2014:

UFBU’ Circular No. 18 dt. 6-2-2014 :


Subsequent to the call for 2 days’ All India Bank Strike on 10th and                     11th February 2014, the Conciliation Proceedings were held today before                Shri B.K. Sanwariya, Chief Labour Commissioner (Central) at New Delhi.  IBA was represented by Shri M.V. Tanksale, Chief Executive, Shri K. Unnikrishnan, Dy. Chief Executive.  The meeting was also attended by the officials from Department of Financial Services, Government of India.  From the UFBU side, the leaders of all constituent unions were present.

We reproduce the Minutes of Conciliation Proceedings held today at New Delhi, for the information of members.

Sunday, February 2, 2014


You might have read my staus Pay slip cost -1 and 2

From the inputs from various circulars from Unions and inputs received by me from comrades,
 it is now clear that total expenditure on employees by banks was Rs.56292 cr. as on 31.03.2012
And on payslip component alone it is Rs.31503cr.

Last time we achieved 10.98% on total expenditure towards salary(pay slip component).
Applying same % this time it comes around Rs. 6180 cr.
(10.98% ON 56292)
Now IBA has come forward upto Rs.3150 cr. only.
  i.e almost half what we have achieved last time.