Friday, October 30, 2015

 D.A Increase for 
Nov, Dec 2015 &Jan 2016 is:
34 Slabs=> 3.4%=>Total 39.80%
Calculated on :
Basic Pay+Special Allowance+Special Pay+PQP

Tuesday, October 27, 2015

What is going on in SBI Associate Banks?

AIBEA CIRCULAR No.27/134/2015/45 23-10-2015


Sub: Strike in Associate Banks of State Bank of India

Dear Comrades,

*Imperial Bank vanished long back but imperialism of SBI management surfaces
*Open attack on service conditions of Associate Banks’ employees
*Rise as one man to resist the rampage, thwart the ravage
*AIBEA-SSBEA’s clarion call to defend our right of collective bargaining and hard-won service conditions *48 Hours/ 2 Days Strike in Associate Banks on 1st and 2nd , Dec. 2015
*Strike by AIBEA on 2nd Dec. 2015
*Indefinite Strike in Associate Banks by end of Dec. 2015 followed by indefinite strike in all Banks

**They want mergers – we want De-linking:
**Attack on Collective Bargaining:
**Our service conditions are not for sale:
**Attacks on trade union rights:
**Why deny legitimate demands:
**Compassionate ground appointments – Naked discrimination:
**Do not foist SBI’s Career Progression Policy on Associate Banks:
**Why we do not accept SBI Career Progression Policy ?
• Increase in working hours by one hour ( 39 hours to 45 hours)
• 7 day banking, shift system and round the clock banking
• Outsourcing all manual jobs like sweepers, peons
• Increased passing powers for Clerical staff at par with officers
• Periodical transfers in clerical/substaff cadre every 3 years like officers and posting only rural/semi-urban centers
**SBI is not the owner of Associate Banks:
**Down with SBI imperialism:

OUR DEMANDS: • De-link Associate Banks from SBI • Do not curb trade union right of representation • Vacate attacks on trade union in SBBJ • Extend compassionate appointment scheme as per Government guidelines. • Increase quantum of staff housing loan. • Recruitment of sub staff and part time employees • Resolve pending demands • Do not impose SBI service condition and career progression in Associate Banks

In principle everyone will support this strike action.

During 10th Bi-partite struggle, in a crucial time 4 days strike and indefinite strike thereafter are cancelled. It is only because of hesitance of AIBEA.
But, this time why AIBEA is so vigorous in this strike when the issue is related to only 5 banks.
Also the entire employees in different banks belong to AIBEA are trapped into this strike.
At the same time why AIBOC union in these banks are keeping silent?
Why a joint struggle not arranged? 

Monday, October 26, 2015



Apropos to the so called expert view by Ms. Latha Venkatesh today, titled “Banks set to turn less profitable, Some need to die”

I request your expert to first know the statistics correct. 

The number of Jan Dhan Accounts opened so far is 188.6 Million as per Govt of India site and the total number of accounts in our country was 684 million SB accounts in 2013 itself as per Crisil report published in the Business Standard dated 28th June 2013. Today, it is around 900 million accounts and not 210 million quoted by your expert. As on 31st March 2015, SBI itself has 273.2 million accounts.

Your expert is a good TV anchor and she has extracted some useful information shared by 3 bankers who have rightly pointed out that there will be competition and the existing banks will be able to cope up with the competition.
But unfortunately, Ms. Latha Venkatesh ends the article by saying “the midcap PSU banks looks set to die. And this death won’t be a loss but a gain. Even the most ardent proponents of PSU Banks have began to admit that Bank Nationalisation is an unmitigated failure. The advent of payment and small banks may be an opportunity for the country to cleanse out atleast some of these PSU Banks that have become irreparable failures. PSU Banks have been hot beds of political patronage for a very long time which is why I worry if the Govt will have the political will to kill them or let them die. One hopes these entities are not kept alive at the cost of the tax payers money as has been done with Air India.”

Let me remind you that out of the 188.6 million accounts opened under Jandhan only 7.2 million were opened by the Private Sector Banks. Please also recollect what happened to Global Trust Bank which was once lauded as successful New generation private bank. 

Public Sector Banks are capable to face any competition as they have faced earlier also. They are not eating tax payers money. Let me quote an article by Dr. Soumya Kanti Ghosh published in Economic Times on 21st January 2015.

Let me start with the most discussed myth that PSBs are monoliths, which, over the past decade have been repeatedly bailed out through capital injections at the taxpayer’s expense. This is a bizarre data interpretation, to say the least. Consider this simple arithmetic. For the decade ended FY14, cumulative capital infusion into PSBs was at Rs 60,000 crore, but the dividend payout (at 20 per cent) was roughly Rs 64,000 crore and the cumulative income tax paid was around Rs 1.30 lakh crore. Thus, on a combined basis, dividend and tax paid to the government was more than 300 per cent during the past decade.

Saturday, October 17, 2015

LIC Wage Revision update

What to say?
Friday, October 16, 2015
LIC wage-revision: update-1
LIC management offered 13.5% rise on Basic Pay after DA merger as on 01.08.2012. Net rise will come to much higher in percentage.
Management also offered 5 days' week. Further details awaited.
noino_central at 11:36 AM

Friday, October 16, 2015

Supreme Court Verdict in favour of Pension for Resignees!

Following is the Land Mark Judgement by Supreme Court for LIC employee!
It is 100% applicable to IBA.
Will UFBU take up this as most urgent subject and proceed to get Pension for the Resignees?

CIVIL APPEAL NO. 10251 OF 2014
1.  The question which falls for consideration is whether the Appellant is
entitled to claim pension even though he resigned from service of his own
volition and, if so, whether his claim on this count had become barred by
limitation or laches.

2 . The Appellant joined the services of the Respondent Corporation on
30.6.1967 on the post of Assistant Administrative Officer (Chartered
Accountant) at the age of twenty seven. He worked for 23 years and 7 months
in the Corporation before tendering his resignation on 28.1.1991, owing to
“family circumstances and indifferent health”, presumably having crossed fifty
years in age. The request of the Appellant for waiver of the stipulated three
months notice was favourably considered by the Corporation vide letter dated
28.2.1991, and the Appellant was allowed to resign from the post of Deputy
General Manager (Accounts), which he was holding at that time. We shall
again presume that the reasons that he had ascribed for his retirement, viz.
family problems and failing health, were found to be legitimate by the
Respondent, otherwise the waiver ought not to have been given. Thereafter, the
Central Government in exercise of power conferred under Section 48 of the
Life Insurance Corporation Act, 1956 had notified the LIC of India (Staff)
Regulations, 1960 and thereafter the Life Insurance Corporation of India
(Employees) Pension Rules, 1995 (hereinafter referred to as “Pension Rules”)
which, though notified on 28.6.1995, were given retrospective effect from
1.11.1993. The Pension Rules provide, inter alia, that resignation from
service would lead to forfeiture of the benefits of the entire service including
eligibility for pension.

3.  On 8.8.1995, that is post the promulgation by the Respondent of the
Pension Rules, the Appellant enquired from the Respondent whether he was
entitled to pension under the Pension Rules, which has been understood by the
Respondent as a representation for pension; the Respondent replied that the
request of the Appellant cannot be acceded to. The Appellant took the matter no
further but has averred that in 2000, prompted by news in a Daily and
Judgments of a High Court and a Tribunal, he requested the Respondent to
reconsider his case for pension. This request has remained unanswered. It was
in 2011 that he sent a legal notice to the Respondent, in response to which the
Respondent reiterated its stand that the Appellant, having resigned from service,
was not eligible to claim pension under the Pension Rules. Eventually, the
Appellant filed a Special Civil Application on 29.3.2012 before the High Court,
which was dismissed by the Single Judge vide Judgment dated 5.10.2012. The
LPA of the Appellant also got dismissed on the grounds of the delay of almost
14 years, as also on merits vide Judgment dated 1.3.2013, against which the
Appellant has approached this Court.

4.  As regards the issue of delay in matters pertaining to claims of pension, it
has already been opined by this Court in Union of India v. Tarsem Singh, (2008)
8 SCC 648 that in cases of continuing or successive wrongs, delay and laches or
limitation will not thwart the claim so long as the claim, if allowed, does not
have any adverse repercussions on the settled third-party rights. This Court

Wednesday, October 14, 2015

Loss by not taking Spl.Allowance of 7.75% for Retirement Benefit!!

In the past 6 months I posted many tables, facts, figures etc., on 2% loading on Basic Pay, and taking out Special Allowance of 7.75% from Retirement Benefits.
You may recall that on 23rd Feb 2015 M.O.U was signed stating that loading on Basic Pay
will be limited to 2%.
Further you may remember that a week before signing M.O.U, General Secretaries of AIBEA and AIBOA (without accompanied by other UFBU constituents) met Finance Minister accompanied by D. Raja M.P.(mediator?).
After that meeting only everything decided and M.O.U is signed and announced publicly.
Till such time the loading matter is not leaked and kept secretly.

Sunday, October 11, 2015

Bank of Baroda Forex scam?

Bank of Baroda Forex scam: CBI conducts raids, questions suspects

Bank of Baroda Forex scam: CBI conducts raids, questions suspects

New Delhi: CBI teams Sunday swooped down at 50 locations in Delhi in connection with its probe into alleged spurious transactions of Rs 6,000 crore to Hong Kong from a Bank of Baroda branch in the garb of purported payments of "non-existent" imports.
CBI sources said agency has found that Ashok Vihar branch of the bank was a relatively new one which has got the permission to entertain forex transactions only in 2013.

They said that Rs 6,000 crore were transferred through nearly 8,000 transactions done between July, 2014 and July, 2015.
Giving details of the case, CBI spokesperson Devpreet Singh said here today it was alleged that the amount remitted in each transaction would be kept at less than USD one lakh.
"All the remittances were made to Hong Kong. The amount was remitted as advance for import and in most of the cases, the beneficiary was the same," the spokesperson said.
Most of the foreign exchange-related transactions were carried out in newly opened current accounts wherein heavy cash receipts were observed but the branch did not generate Exceptional Transaction Report (ETR) and did not monitor the high value transactions, she said.
The sources said these remittances were sent by splitting them into amounts below one lakh USD to avoid automatic detection by software used by banks to alert them about such transactions.
They said in taxation language the technique is known as smurfing and holders were able to skip the scrutiny of such transactions.
The sources said most of the 59 accused have been identified by the agency which today carried out searches at 50 locations in a massive operation involving about 200 officers.
"It was revealed that most of the addresses given by the companies / firms were either false or the companies / firms did not exist at the said addresses. Most of the accused persons allegedly involved in perpetration of the said crime have been identified and their interrogation is underway," she said.
CBI is tight-lipped about accused and beneficiary in the case claiming that probe which is in a delicate state is not jeopardised.
CBI has registered a case under section 120-B (criminal conspiracy) read with 420 (cheating) of IPC and Section 13(2) read with13(1)(d) of Prevention of Corruption Act, 1988 against 59 current account holders and unknown bank officials and private persons on a complaint from Bank of Baroda.
The FIR alleged that "59 current account holders and
unknown bank officials conspired to send overseas remittances, mostly to Hong Kong, of Foreign Exchange worth approximately Rs 6,000 crores in illegal and irregular manner in violation of established banking norms under the garb of payments towards suspected non-existent imports."
The Enforcement Directorate has also registered a case and carried out searches in this connection. Yesterday, Congress had demanded an inquiry in to the matter.
"It was strange that the money was sent to buy cashew, pulses and rice from Hong Kong," Congress spokesperson RPN Singh had said.
The bank which had carried out an internal probe, after audit red flagged nearly 8000 transactions done from Ashok Vihar branch of the Bank, found that there was failure on their part to report these suspicious transactions, they said.
They said the account holders who were allegedly sending these payments to Hong Kong had claimed that these were advances for imports of cashew, rice etc whereas no such imports ever took place. 
First Published: Sunday, October 11, 2015 - 14:18

Thursday, October 8, 2015

Bharatiya Mahila Bank is wholly owned by Government of India.
Bharatiya Mahila Bank (BMB) is an Indian financial services banking company based in New Delhi, India. Former Indian Prime Minister Manmohan Singh inaugurated the system on 19 November 2013 on the occasion of the 96th birth anniversary of former Indian Prime Minister Indira Gandhi.
India is the third country in the world to have a bank especially for women, after Pakistan and Tanzania
The Bank's initial capital consists of Rs 1,000 crores.

Monday, October 5, 2015

IBA informed that the new scheme on hospitalisation/ medical expenses reimbursement scheme has commenced from 1-10-2015 (for serving employees)

The following 18  Banks have paid the pro-rata premium and hence for employees of these Banks, coverage will be available from 1-10-2015.


For the remaining Banks, the coverage will be effective from the date of joining the scheme by paying the premium.

Sunday, October 4, 2015

All about Medical Insurance Policy for retirees!

AIBRF Circular dtd 01.10.2015 - IBA Group Medical Scheme for Retirees

AIBRF CIR on Med Insurance Scheme to RETIREES >

Ref: 2015/255                                                                                                                        Date: 01.10.2015

Dear Sir


As all of you are aware, Indian Bank Association has introduced Group Medical Scheme for Bank Employees and Retirees as per the settlement dated 25.05.2015.

2. Details of the Scheme are given in the enclosed Annexure. Primary Members are requested to preserve it carefully for future reference as it will be basis for settlement of claims.

3. Group Medical Scheme introduced by IBA is though more or less identical for employees and retirees, the following features/ facilities will not be available to retirees.

(a)In case of retirees, only self and spouse will be covered under this policy. Dependent Parents/ Children will not be covered as available to the employees during the service period.

(b)Banks will be only selling point for retirees and insurance claims will have to be handled and settled by the retiree directly with the insurance company through TPA while claims of employees under the policy will be settled by banks and banks will handle the claim with the insurance company.

(c)Entire insurance premium for buying the policy will have to be borne by the retiree while premium charges for employee by borne by the bank.

(d)As per clause 3.2 of the scheme, employees will be eligible to receive lump sum cash payment of Rs. 1lakh for certain critical diseases which will not be available to the retirees.

4. We wish to draw your kind attention on the following features of the policy.

(a)Eligibility: Retired Employees and their dependent spouses.

(b)Amount of Insurance: Retired Officers: Rs. 4lakhs and Retired Clerk and Sub Staff Rs. 3 Lakhs. These amounts of sum assured are fixed one with no flexibility.

(c)It will be floater Policy. Total sum assured will be available to one or both for settlement of claim in the year.

(d)As mentioned above insurance premium will have to be borne by the retiree in advance. First year premium including service tax is Rs. 7493 for policy of Rs. 4 lakhs and Rs. 5620 for policy for Rs. 5620/- approx. It should be importantly noted that next year and subsequent yeas premiums apyable will be subject to change. It is important point for retirees as the premium has to borne by the retirees.

(e)If husband and wife both are bank retirees, each can take separate policy as per their entitlement subject to payment of premium.

(f)The scheme will be implemented by the individual banks. It will be optional for the retirees to join the scheme. The retiree will have to submit the application in the prescribed format to the bank within the stipulated time.

(g)The retiree will have to give authority to the bank to debit designated account for premium amount for first year and subsequent years. Therefore it is necessary for the retiree to maintain sufficient balance in the designated account during the relevant period to enable the bank to debit the account and remit the premium to the insurance company. Any default in this regard will make the retiree ineligible from benefit of the policy.

(h)There is no age limit for joining the scheme and for subsequent renewals.

(i)Pre-existing diseases will be covered from day one without any waiting period.

(j)No Medical examination will be necessary for joining the scheme.

(k)Cashless facility for the treatment will be available at the networked hospitals. In other cases retiree will have to pay the charges and subsequently claim reimbursement from the TPA.

(l)With certain stipulations Day care and domiciliary expenses will be eligible for reimbursement.

(m)Allopathic/Ayurveda/Homeopathy/Naturopathy treatments are also covered under this policy.

(n)The retiree will have option to withdraw from the scheme any time in future but will not have option to join it after the date notified by the bank/ IBA

4. We find that banks have started taking action for implementation of the scheme and communications are being issued inviting option by fixing different dates by banks for retirees. We find that some clarifications are coming from representatives of Insurance Company/ Broking firms/ TPA in the joint meetings held with retirees/ employees at some centres. Still we need clarifications in the following areas for better clarity.

(a)Effective date for implementation of the scheme should be notified by IBA immediately. We have come to know that probably the scheme for retirees will be effective from 1-11-2015.
(b)The retiree should be given time of 90 days to exercise the option to join the scheme from the effective date of implementation.

(c)The retiree should include Superannuated employees, VRS employees Compulsory Retired employees, Resignees for the purpose of the scheme. This clarification should be given immediately.

(d)This scheme should be made available to Family Pensioners also. We understand insurance company has no objection to cover Family Pensioners under the scheme. IBA should immediately issue suitable communication in this regard.

(e)Dependent children/ Parents of the retirees should be covered under the scheme.

5.We find that the above points were well covered in the scheme submitted by the insurance company/ broking firms to IBA and on these basis they were finalised by IBA. But for the reasons best known to them, at banks level while implementing the scheme norms are getting diluted for retirees. We hope IBA will take necessary steps for suitable clarification to avoid any litigation on this issue.

6. Despite above, AIBRF welcome move of Unions/ IBA in extending the scheme to retirees and convey its thanks for taking step forward in health management of retirees.

7. AIBRF appeal all its affiliates to take steps to popularise the scheme among the retirees to ensure that maximum number of retirees join it.

8. AIBRF has formed HELP DESK at its Central Office to assist its affiliates , members in its smooth implementation Your quarries may be sent through email address sharbat_123@rediffmail .com

9. In case our affiliates have any suggestions in this regard they may write to us for taking up them at the appropriate level. It is seen that some affiliates are writing directly to IBA/ Government directly on this issue. This is not proper and they are requested to avoid this position in future.

With Warm Regards

Yours Sincerely

( S.C.JAIN )

Friday, October 2, 2015

New recruit Clerks IBPS IV:
First batch of training for 1181 candidates will start on 02.11.2015
Second phase of 93 candidates date will be informed later.
Roll numbers available in
Indian Bank website.

Thursday, October 1, 2015

Medical Insurance Policy for Pensioners and retirees!!

As received.........
Details of a Meeting organised by AIBOA - Maharastra (BankPensioner forum) :
Attended a meeting organised by AIBOA (Maharashtra) to discuss the health insurance scheme for retiree employees . The gathering of retired employees was addressed by:
1. Shri Hariharan, DGM , United India Insurance, HO, CHENNAI
2. Shri Manek Dastoor of Dastoor & Co., advisors to IBA.

Take-aways from the discussions included:
1. The scheme is to be implemented from 01.11.2015.
2. Even though the banks have stipulated cut-off date for exercising option, a time window of 90 days (from the date of implementation) will be available for a retiree to exercise his option in case he failed to do so within the cut-off date.
3. Once an employee opts out of the scheme, he/she will not be eligible to be covered under the scheme.