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Holidays declared by States are excessive: Indian Banks’ Association
Indian Banks’ Association (IBA) feels that bank holidays declared under the Negotiable Instruments Act, 1881, by various States are ‘excessive’ and need to be rationalised.
A meeting of the managing committee of the IBA, which represents management of member banks, is learnt to have made known its view during discussions on ringing in a five-day week in the banking sector.
It may be recalled that as part of the wage revision under the 10th bipartite settlement, a memorandum of understanding was signed on February 23 between the IBA and workmen unions/officer associations. A consensus was arrived at that every second and fourth Saturdays of the month will be holidays and the other Saturdays will be full working days for bank branches/offices.
Phone: 25265511 / M
9840645081 / FAX: 044-25249081 / e mail:
Deputy Chief Executive Officer,
Medical Scheme for employees of member banks of IBA and their family members in
lieu of existing Hospitalization Scheme.
REF; 1. Your e mail dated
2. Our letter IBA: BKS:22:2015 DATED
to our email communication, as an interim response, our organization strongly
feels that tie up arrangement with any Insurance company and routing through
the claim to TPA is amounting to outsourcing of the staff related matters,
hence deserves to be rejected in toto. Apart from the above hardly 15% of
the employees are claiming the reimbursement under Hospitalization Scheme, the
same should be handled by the Personnel department of the individual Banks. As
the standardization is the principled approach in similarly placed employees in
Banks, the best of schemes available in State Bank of India as well as in Bank of
India may be harmonized and extended to all Banks.
employee shall deal only with the Bank and not with the Insurance company/TPA.
Notwithstanding the above we
suggest as under the clause wise observations.
Many comrades are asking about meeting between Officers Unions and IBA sub group. No circular has been issued by any of the unions. AIBOC has posted a message in their site today.
""In the meeting of Sub-Group of IBA held on 22-04-2015 on other issues of officers at Mumbai many issues including PQA, FPA, CAIIB Increment, tax on perquisites, allowance for naxal affected areas, LFC etc, were discussed, Our concerns of structuring of pay scales were also shared and discussed with the IBA, The meeting was positive, Next round of talks is expected to be held next week"
QUOTE: "Our members are aware that MOU was signed on 23rd February, 2015, for the Xth Bipartite Settlement in which an annual wage increase of 15% on pay slip components was offered by the IBA, which works out to Rs. 4725 crore along with the second and fourth Saturdays off in Banking Industry. …. …..United Forum of Bank Unions met at Mumbai on 15.04.2015 to discuss about the proposed Medical Insurance Scheme in lieu of the scheme for reimbursement of Hospitalisation expenses presently in vogue in Public Sector Banks and any other issue on the present scenario. ……On other issues, we requested all the constituents of UFBU to take a common stand of loading 2% on basic pay and DA as on 31.03.2012 as per the terms of MOU and not to compromise on anything else. On this issue, a couple of constituents had a different view. We shall try to convince them with our view and shall endeavour to ensure that our interpretation of the MOU on this aspect of loading is demanded by the UFBU. This interpretation is all the more necessary in view of the fact that there are lot of constraints in construction of pay scales with a limit of 2% of loading on basic pay and DA. We also made it very clear in the UFBU meeting that we will not sign any agreement till the time the second and fourth Saturday off in the Banking Industry is ensured or a firm commitment is signed by IBA in this regard giving a time line for its implementation.
Text of BEFI Circular no.13/2015 dated 17.04.15 BIPARTITE TALKS The Sub-Committee for discussion of Medical Reimbursement met at 11.00 A.M. yesterday, 16th April 2015. On introduction of Medical Insurance Scheme, UFBU forcefully put forward the apprehension of the employees and insisted that the same need to be addressed first before the present system of reimbursement of expenses is substituted. IBA, while assuring that the same would be taken up with the TPA for acceptable solution, requested UFBU for a written note in the matter. The issue is yet to be finalized.
Thereafter, full-fledged negotiations were held in the afternoon. In this session, some understandings were arrived at on
political party and its followers who threw a fit when the UPA government
decreased the number of subsidized LPG cylinders now want everybody to renounce
them out for taking it away, was the outcry then.
Give it up, is the new status symbol and update now.
Good subsidy politics that helped candidate Narendra Modi has turned into
bad middle class ethics for PM Modi.Reuters image.
crux of Modi’s appeal is that government ‘subsidy’ is only for
the poor and the ‘underprivileged’.
For those who can afford to pay the market price, it is, thus, unethical to
If you can’t convince them politically, blackmail them emotionally.
burden of subsidy on their conscience while you munch your chickens
for Rs 29 in the Parliament’s canteen.
get this off our chest straightaway.
government is not doing anybody a favour or being financially generous. It is
just playing emotional politics to hide its predatory economics.
The Deccan Chronicle exposes the government’s double-speak on
Full holiday on 2nd and 4th Saturday of every month The Minutes of Discussions has to be translated into regular Settlement under the I.D Act amending the existing provisions regarding working hours. Further change of holiday in Banks also needs official changes in the regulations by RBI and some amendment to the Negotiable Instruments Act. All these issues have been taken up by IBA with the concerned authorities in RBI and Government. Without completing and complying with these formalities, the holidays in Banks cannot be changed.