Thursday, April 30, 2015

D.A. increase for May 2015

D.A increase for May,Jun&July 2015
         =4 slabs(0.60%)
Total =738 slabs(110.70%)

Wednesday, April 29, 2015

Saturday Holiday process getting momentum?

Return to frontpage

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.
Consensus ready

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.

Friday, April 24, 2015

AIBOA Suggestions on Medical Insurance Policy!


A.K.Nayak Bhavan, 2nd Floor 14, Second Line Beach,
CHENNAI-600 001
Phone: 25265511 / M 9840645081  /  FAX: 044-25249081  / e mail:

April 14, 2015

The Deputy Chief Executive Officer,
Indian Banks Association,
Cuffe Parade,


REG;   Draft 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 13.03.2015.
            2. Our letter IBA: BKS:22:2015 DATED 14.03.2015.

Further 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.

The 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.

22-04-2015 meeting

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 wi
th the IBA,
The meeting was positive,
Next round of talks is expected to be held next week"
Which many of you might have read as SMS news.

Tuesday, April 21, 2015

Consolidation of banks!

Return to frontpage

Prepare small banks for merger with large PSBs: Finance Ministry panel

Small public sector banks, with assets of less than Rs.2-lakh crore, should be readied for merger with five large PSBs, a Finance Ministry-appointed panel has recommended.
PSBs with less than Rs.2 lakh crore assets (loans plus investments) include Andhra Bank, Bank of Maharashtra, Dena Bank, Punjab & Sind Bank, Vijaya Bank, and United Bank of India.
The large PSBs, with the capability to acquire include Bank of Baroda, Bank of India, Canara Bank, Punjab National Bank and Union Bank of India.

Monday, April 20, 2015

AIBOC Circular No. 2015/20 dt/ 18.04.2015


"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.

Saturday, April 18, 2015

Details of talks on 16.04.2015

Text of BEFI Circular no.13/2015 dated 17.04.15


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

Friday, April 10, 2015

No, PM Modi: Here's why I won't be giving up my LPG subsidy!

It is all gas.
A 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 subsidy.
Vote 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.
The 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 claim it.
Clever ploy:
If you can’t convince them politically, blackmail them emotionally.
Put the burden of subsidy on their conscience while you munch your chickens 
for Rs 29 in the Parliament’s canteen.
Let us get this off our chest straightaway.
The 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 subsidy succinctly.

Thursday, April 2, 2015

"Give up" call

Ignore all these false and mischievous messages!

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.