Re : 56th Central Committee Meeting –
Details of concluding day’s proceedings.
Continuing discussions on the agenda, the House took up for consideration the concerns of officers arising out of unlimited working hours and working on Sundays and Holidays. Members after members criticized the ‘culture’ cultivated in the system that as long as the ‘Boss’ sits, officers must also sit, whether their duty demands or not, asking the officers to come on Sundays and Holidays and the tendency to hold meetings on Sundays and Holidays despite advice from Corporate Office to the contrary, depriving officers, in the process rest, recuperation and family and social life. In this context, the members also cited instances of physical exertion and mental sufferings resulting in health hazards for officers. After detailed discussions, the Central Committee resolved to call upon the management to put an immediate end to this tendency within a reasonable time failing which the Association must give a call that no officer will sit late and work on Sundays and Holidays.
The meeting considered residual issues arising out of the 9th Bipartite Settlement and second option for Pension reached between IBA and INBOC along with other Trade Union Organizations in the Banking Industry. The General Secretary detailed the residual issues such as Accumulation of Privilege Leave from 240 days to 300 days, Regulated Working Hours, Compassionate Appointment, Risk Insurance for officers to cover lending risks, Upgradation of Pension Regulations, Upgradation/Revision of pension to earlier retirees and outsourcing. The House unanimously resolved to pursue these issues with IBA/Govt. through UFBU, INBOC and INTUC. The meeting also took note of the Khandelwal Committee Recommendations and the decision of the UFBU to fight against those recommendations which are anti-employees and anti-Trade Union in nature. The meeting unanimously decided to join action programmes as and when decided by UFBU.
The meeting also decided to pursue our demand for parity in service conditions with SBI. In this regard, the General Secretary brought to be notice of the Central Committee the reported decision of SBI management to divert Rs.290 crores provided in the last revision for upgrading Pension Scheme in SBI for improving service conditions of its employees both workmen and officers. The meeting also resolved to launch an agitation in pursuit of parity and authorized the General Secretary to join other organizations for a united movement of Nationalized Bank Officers. The General Secretary reported to the House various activities undertaken by INTUC during the past one year more particularly the Bharat Bandh successfully organized along with other Central Trade Unions on 7th September 2010. He also reported to the House the decision of INTUC and other CTUs to intensify their agitation against the Government’s economic policies ahead of next year’s Budget Session with a massive morcha to Parliament on 23rd February 2011.
Seizing the opportunity the Central Committee meeting also bid a warm farewell to Shri K.C.Maheshwari, the former Secretary, MP & CG Zone who retired from Bank’s service on 31st October 2010. The meeting proceeded with the agenda on Bank’s Business Development, discussed various programmes to be undertaken for further expanding CASA Deposits more particularly Current Account deposits, increasing fee based Business and income thereon, improving NRI Deposit, undertaking a cost benefit analysis of sale of Third Party Products and assessing impact of Navanirman Project on new Business accretion, customer service, quality and
profitability. Enthusiastic discussions took place on each of the item and the Central Committee members from every Zone participated in the deliberations offering valuable suggestions and programmes to be undertaken by officers. The General Secretary advised the Central Committee members to immediately submit their views in writing so that appropriate approach papers can be submitted to the Bank for its consideration.
The concluding session commenced with a warm welcome to Shri N.S.Srinath, our Bank’s new Executive Director. Delivering his valedictory address with the opening remarks that he considers it as a privilege to meet Central Committee members from across the country, the Executive Director complimented the Association for the outstanding and consistent performance of the Bank. The Executive Director acknowledged that ours is the oldest Association of officers and is a responsible organization working for the betterment of service conditions and common good of officers’ community. He narrated his experience since he assumed charge as the Executive Director that the Association analyses in greater depth before deciding on any action and it works with an open mind. Agreeing that it is a difficult task, Mr. Srinath lauded the rich tradition of working for the cause of Bank and welfare of officers’ community as a unique model built up by the Association over a period of time. Emphasizing multiple tasking the Association is entrusted with, the ED advocated patience, enhanced convincing capacity and analyzing ability shedding personal ego. Mr. Srinath aptly added “Central Stage is welfare of members. Work on common issues, arrive at common understanding – ultimate objective is to create a congenial working environment” amidst loud applause by the House.
Further, the Executive Director highlighted issues confronting the Bank such as CASA growth, NRI accounts, Increase in fee based income, NPA reduction, Financial Inclusion/Inclusive Growth, Technology upgradation, Mobile Money Transfer, a Healthy Credit Portfolio - SME, Retail and Wholesale Banking, Need for every unit to perform and reach target and above all Consistent Growth. The Executive Director stated that massive recruitment is on and youngsters with different educational, cultural and family backgrounds are joining the Bank and advised seniors to guide them properly, teach them values, integrate them into the organization, make them good employees and good members of the organization. He exhorted “Every unit should talk in one voice; we should build a good Team”. Assuring that the Bank shall take care of all stake holders, the Executive Director complimented the Association for taking care of Bank’s Business and its members. He reiterated that the Bank is compassionate to people and issues will be resolved within Regulations. He urged to develop understanding on limitations and constraints of the management. “We are working with a common objective. We have created bench mark in the industry Take forward this spirit”, exhorted the Executive Director concluding his valedictory address.
Responding to the elegant and educative valedictory address, the General Secretary expressed his gratitude to the Executive Director for his valuable advice, guidance and appreciation. The meeting concluded with a Vote of Thanks by Mr. Prem Makker, Secretary, North Zone. Friends, the 56th Central Committee meeting was indeed a historic event. Let us all move forward with commitment to Bank’s growth and determination to improve our service conditions.
PLEASE CIRCULATE AMONGST ALL OFFICER COLLEAGUES
CIRCULAR TO MEMBERS NO.28 OF 2010 20th December 2010
Re: 56th Central Committee Meeting – Further details.
We refer to our circulars No. 25, 26 and 27 of 26th November, 14th and 15th December 2010 respectively on the above meeting and give hereunder further details:-
On the second day, Shri Ulhas Sangekar, General Manager (HRM & Mktg.) attended the meeting and talked on the HR initiatives in our Bank. In his exhaustive and crystal clear address Shri Sangekar informed the Central Committee members the advice of the Chairman & Managing Director, while entrusting the assignment of HR to him, that Performance of the Bank must be kept uppermost in his mind as the new Head of HR function emphasizing that “38000 employees’ vision is the Bank’s vision.” Recalling his happy association with the Association and admitting that it is not possible for him to say ‘yes’ always, the General Manager (HRM & Mktg.) assured that he will definitely listen patiently, understand and try to resolve issues. Shri Sangekar spelt out some of his guiding principles that he would keep in mind while performing his new job role viz. (1) No personal agenda (2) Total transparency, (3) Togetherness and Team Work and (4) Business Excellence.
In response to the statement made by the General Secretary during the course of the inaugural session that the Bank should have a re-look at the deployment pattern in operating units vis-à-vis administrative units the General Manager (HR & Mktg.) said that suitable instructions have been issued to Administrative Heads for a 10% reduction in the Corporate Office. He added that new recruits will be deployed in operational areas, Recruitment Plan – 2010 has been completed and DROs have started reporting, Results of recruitment of clerks are expected shortly and also assured support to one man branches. Reacting to the need to improve comfort level as urged by the General Secretary, the General Manager (HRM & Mktg.) stated that he is aware of the problems such as late sitting, working on Sundays and Holidays, leave etc., and an appropriate communication has been sent to all Zonal Heads which will be pursued at the review meetings with Zonal and Regional Heads.
The General Manager (HRM & Mktg.) enumerated various policies that the Bank has put in place like Promotion Policy, Transfer Policy, Overseas Selection Policy and a Transparent Performance Management System. Shri Sangekar also informed the House that exercises for promotions to Scale IV, III and II will take place shortly. Simultaneously he conveyed his areas of concern on issues like Manpower Planning, Succession Planning, Pension Cost, and Contribution to Staff Welfare Fund which prohibits expansion of Schemes and increase in the prevailing ceilings. He also invited reactions on the policies like Transfer Policy and Promotion Policy. In his address, Shri Sangekar also touched upon the on-going Udan Programme, Baroda – Next, Vigilance cases and issues which already are resolved and which are pending.
An interesting interaction followed when a large number of committee members participated bringing various issues to the notice of the General Manager (HRM & Mktg.). The need to sensitize HR officials and to put an end to the disconnect at Regional/Zonal level with the Trade Union organizations, an approach of defiance noticed in certain Regional / Zonal levels,
continued tendency to deny legitimate entitlements like Leave, Officiating Allowance etc., were brought to the notice of the General Manager (HRM & Mktg.) The General Manager (HRM & Mktg.) responded to various queries raised in the House with all sincerity and commitment and assured follow up action. The House thanked the General Manager (HRM & Mktg.) with loud applause for sparing some of his valuable time for attending the Central Committee meeting and delivering an informative talk on HR initiatives with clarity and forthright approach which cleared the doubts and confusion of the members. Participants were particularly happy with the General Manager (HRM & Mktg.) for listening to the grass root level problems with patience and promising to sort out these issues.
Continuing discussions on the Agenda, the House took up for consideration Pending Issues. Recalling the Resolution unanimously passed in the 55th Central Committee Meeting, the House noted with regret that many of the issues mentioned therein remain to be settled. The House decided to convey to the management its serious concern on the non-redressal of the following issues:
(1) Providing Furniture and Fixtures – Review.
(2) Reimbursement of House Maintenance Expenses –
(a) Extending the facility to remaining category of officers.
(b) Amount of reimbursement to be made at par with those living in accommodation leased in the Bank’s name.
(3) Scheme for providing residential accommodation to officers – Enhancement of Rental Ceilings and allied expenses.
(4) Denial of rightful entitlements more particularly Leave, Officiating Allowance etc.
(5) Baroda Financial Reward for Business Leaders –
Need to extend ‘inclusive’ concept and cover all employees.
(6) Monetary compensation to officers who are required to work beyond normal duty hours, Sundays and Holidays.
(7) A share in the huge cake which employees bake for the Bank – Need to extend every employee a share in the huge Profit Bank generates year after year due to the rigorous efforts put in by the entire ‘Team’.
(8) IR related issues.
The House also decided to convey to the management that if these issues are not resolved within a reasonable time, the Association will be compelled to explore other possibilities including agitational methods to redress the genuine concerns of officers. (To be continued)
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.27 OF 2010 15th December 2010
Re: 56th Central Committee Meeting – More details.
The Business Session that commenced after the inaugural session took up for consideration the agenda to review and discuss organizational matters since the last meeting and to take appropriate decisions. The General Secretary, initiating the discussion, reported to the House that during the period under review Shri N.S.Srinath has joined our Bank as Executive Director and announced that he has kindly consented to attend the Central Committee Meeting and present valedictory address on the concluding day viz. 23rd November 2010. The House congratulated Shri Srinath and conveyed him its best wishes. The General Secretary also informed the House that four General Managers of our Bank S/Shri D.Sarkar, Ajay Kumar, S.S.Mundra and Badri Narayanan have been elevated to the position of Executive Director in Allahabad Bank, UCO Bank, Union Bank of India and UCO Bank respectively. The House congratulated each one of them and wished best of luck in their new assignments.
The General Secretary reported to the House the admirable performance of our Bank as on 31st March 2010 and half year ended 30th September 2010 in spite of unsatisfactory global economic scenario. The House congratulated the CMD and the top management on this path breaking achievement. The Central Committee lauded the rigorous efforts put in by officers’ community at the cost of family life and basic minimum comfort level to take the Bank to such a distinctive higher level.
The General Secretary reviewed various organizational activities undertaken during the period such as meeting of officers across the Zones, improved and timely communications, on-going elections in different Zones, collection of membership fee, enrolment of new members from promotees and directly recruited officers, role in Business Development of our Bank, two days’ Workshop organized in Mumbai on 30th and 31st August 2010 to train Defence Representatives in the art of defending officers under disciplinary action, Structured Meetings held at Central and Zonal office levels and evolving a New Promotion Policy characterized by reduced span, dispensing with interview for promotion to Scale-II and written test for promotion to Scale IV and other improved provisions.
The General Secretary shared his serious concern over increase in Bank Frauds as revealed through various disciplinary proceedings initiated against officers. He informed the House that preliminary discussions on this issue took place in the meeting of Zonal Secretaries held at Indore on 31st October 2010. He also informed that in the said meeting a Small Committee was constituted consisting S/Shri K.K.Nair General Secretary, R.K.Chatterjee, R.K.Chouhan and V.B.Chavan, Secretaries from BJ&O, North Gujarat and Maharashtra & Goa Zone respectively to go into the details and formulate our proposals. The first meeting of the Small Committee took place in Mumbai on 11th November 2010. After discussing the various dimensions of frauds, vulnerable areas, measurers to prevent frauds etc., a draft Approach Paper was prepared by this Small Committee. Shri R.K.Chatterjee, Secretary of BJ&O Zone presented this Approach Paper for the consideration of the Central Committee. Active discussions followed and members from various Zones participated making various proposals on the subject. The House authorized the General Secretary to finalize the Approach Paper keeping in mind various views expressed in the House and submit to the Bank for consideration.
General Secretary also brought to the notice of the House the historic Wage Revision Settlement effective from 1st November 2007 along with one more option for Pension and the role played by INBOC-INTUC. The House congratulated and complimented INBOC President Dr.G.Sanjeeva Reddy and General Secretary Shri K.K.Nair for getting a record wage increase of 17.5% and also realizing the long cherished desire of lacs of Provident Fund optees for one more option for Pension. The General Secretary also reported that the Govt. at our initiative has since permitted netting of commutation amount and the Bank has included arrears of Pension too as a grace to retirees in this netting. With regard to 2nd option to officers who opted for regular VRS, legal action is the only alternative now available, added the General Secretary.
The House noted that a Transfer Policy for officers in JMG/S-I to MMG/S-III put in place by our Bank in April 2009 is due for review in April 2011. Several deficiencies, short comings and misinterpretations to the disadvantage of officers which cropped up during the two years of its implementation were brought out in the meeting by various members of the Central Committee. The General Secretary desired that such areas of deficiencies, shortcomings etc. should be communicated to him along with suggestions for improvements on or before 31st December 2010.
The General Secretary reported to Central Committee that the usual periodical verification of membership of the Association once in three years, is completed and our Association has been declared as Majority Organization by the Designated officer Shri R.K.Bansal, General Manager (Recy, Legal, Ascrom & Public Information Officer). Consequently and as per the directions of the Govt. of India, the Association has sent a panel of three names as under, in the order of preference, for appointment as our nominee Director -
(1) Shri R.K.Chauhan, Secretary, North Gujarat Zone
(2) Shri V.B.Chavan, Secretary, Maharashtra & Goa Zone
(3) Shri R.K.Chatterjee, Secretary, BJ&O Zone
The General Secretary also informed the Central Committee members, the names of our nominees on various Trusts as under:
(1) Shri R.K.Chauhan, on Pension Trust,
(2) Shri J.G.Lakhawala, on Provident Fund Trust and
(3) Shri T.N.Lalwani, on Gratuity Fund Trust.
The House also noted that Reserve Bank of India has constituted a High Power Committee on Customer Service in Banks under the Chairmanship of Shri M.Damodaran, former Chairman of SEBI. INBOC was invited to participate in the meeting held in IBA’s office. Our General Secretary in the capacity as the General Secretary, INBOC attended the meeting and presented a paper suggesting steps to improve Customer Service and resolve customer complaints. A copy of suggestions has been forwarded to every Zonal Secretary, added the General Secretary. Further details will follow.
PLEASE CIRCULATE AMONGST OFFICER COLLEAGUES
CIRCULAR TO MEMBERS NO.26 OF 2010 14th December 2010
Re: 56th Central Committee Meeting – Details
The 56th Central Committee Meeting of our Association commenced with a welcome address by Shri R.K.Chatterjee, Secretary, BJ&O Zone. As reported to you earlier vide our circular dated 26th November 2010, the meeting was inaugurated by our Bank’s Chairman & Managing Director Shri M.D.Mallya on 21st November 2010 by lighting the traditional lamp. The Chairman & Managing Director, in his inaugural address, expressed his happiness to be associated with the Central Committee Meeting of the Association and recalled that he also addressed two similar meetings earlier in 2008 in Lucknow and in 2009 in Jaipur. The Chairman & Managing Director emphasized amidst loud applause that “Together we will be able to take our Bank to high level of performance and with one minded objective coupled with the same dedication, our Bank would become the Best financial conglomerate in our country”. The Chairman & Managing Director also acknowledged that Business India’s Best Bank Award for the year 2010 is a collective recognition of contribution made by Barodians and expressed hope that more such Awards and Accolades are awaited which all will make us feel proud.
The Chairman & Managing Director also desired consistent and sustainable performance with no compromise on quality and strongly advocated ethical standards. Reminding that every Barodian has immense potential to unleash, the Chairman & Managing Director reiterated the need to surpass our own benchmark. He added, “We overtook Canara Bank and will beat Punjab National Bank in Profit, Business and Quality of Performance. It is well within our reach with single minded pursuit”. In this context the Chairman & Managing Director also cautioned “When we run, Punjab National Bank will not be sleeping”. Hence he desired a change in the approach from ‘Passion to Perform’ to ‘Passion to Outperform’.
Chairman & Managing Director further stressed on improvement in the standard of Customer Service. In this connection he observed that incremental business growth necessitates improvement in Customer Service and exhorted all to work with single minded devotion for attaining Customer Delight. In respect of Business Growth, the Chairman & Managing Director spelt out his expectations as under:
1) Quality Growth of Business
2) CASA – 30% growth
3) Robust increase in Fee based income
4) NPA Management
5) Acquiring and Retaining Customers.
The Chairman & Managing Director called upon the Central Committee members “to pass on the messages down the line; we are all one”.
Summing up, the Chairman & Managing Director advised everyone to -
(i) Be positive to the needs of the Institution.
(ii) Have meaningful interactions and suggest appropriate policies for the Bank to enjoy the pre-eminent position.
(iii) Share the vision he has with everybody.
(iv) Exercise the role that you have.
(v) Compare with multinational Banks and need not compare with Public Sector Banks.
(vi) Realize his/her potential and capability.
(vii) Develop conducive work place because work place is a Temple.
Concluding his address, the Chairman &Managing Director desired that the Central Committee members discuss the agenda slated for the meeting and give him a synopsis of discussions. Friends, the extraordinarily vivid inaugural address elegantly delivered by the Chairman & Managing Director with perfect pause and poise, was heard by every Central Committee member with rapt attention and thunderous applause.
Thanking the Chairman & Managing Director for his brilliant and eloquent inaugural address, the General Secretary assured the Chairman & Managing Director of the unstinted support and total commitment of the officers’ community to translate his call into actions and realize his vision and expectations. Simultaneously the General Secretary also brought to the attention of the Chairman & Managing Director that officers too have certain expectations from the Bank which are already in the knowledge of the General Manager (HRM & Mktg). While urging that these expectations must be achieved through bilateral discussions, the General Secretary appealed to the Chairman & Managing Director to help officers to realize their expectations of a ‘work – life’ balance which in turn would produce an environment conducive for improved performance.
In this context the General Secretary also brought to the notice of the Chairman & Managing Director the acute shortage of staff prevailing in the branches which is the mother of all problems ultimately culminating in unrest in the work place. As an immediate solution, the General Secretary desired the Chairman & Managing Director to have a re-look at the deployment pattern in vogue in operating units vis-à-vis administrative units. The Chairman & Managing Director concurred with the need for quality family life and assured to get the issue of deployment pattern examined. He also announced that 2500 more officers would be available in the next two years.
The inaugural session concluded with a Vote of Thanks by Shri V.B.Chavan, Secretary, Maharashtra & Goa Zone. Further details will follow.
PLEASE CIRCULATE AMONGST OFFICER-COLLEASGUES
Circular to members no. 25 of 2010 26th November 2010
Re : (1) Central Committee Meeting of our Association.
(2) Merit Award under the Welfare Fund launched by us.
(3) Implementation of the Pension Settlement.
The 56th Meeting of the Central Committee of the Association was held at Mumbai on 21st, 22nd and 23rd November 2010. The Meeting, held at West End Hotel, was inaugurated by Shri M. D. Mallya our Bank's Chairman and Managing Director on 21st November 2010. The meeting concluded on 23rd November 2010 with a valedictory address by Shri N. S. Shrinath our Bank’s Executive Director. In between, on 22nd November 2010, there was a talk on HR Initiatives by Shri Ulhas Sangekar, General Manager (HR & Mktg.) followed by an interaction session. Details of the Meeting will be conveyed to you through our next circular.
Merit Award under the Welfare Fund launched by us.
Please refer to our Circular No. 23 of 2010 dated 4th October 2010 on the above subject. We now wish to inform that 202 children of Members of the Welfare Fund were found to be eligible for Merit Awards for the years 2008 - 2009 and 2009 - 2010. Cheques representing these Awards pertaining to each Zone have been handed over to the respective Zonal Secretaries in the Central Committee Meeting. Our Zonal Secretaries, in turn, will distribute the Awards to the winners in their respective Zones. While revising the activities undertaken by the Welfare Fund the Central Committee decided to increase the limits of financial aid as under :
(i) Merit Award to Rs.750/- from Rs.500/- w.e.f. 01.01.2011.
(ii) Death in harness to Rs.30,000/- from Rs.20,000/- with immediate effect.
Implementation of the Pension Settlement.
In terms of Circular No. BCC:BR:102:246 dt. 9th September 2010 issued by the bank, eligible retired employees are required to refund the entire amount of Bank's contribution to PF and interest thereon and 56% of the above amount. As the amount so worked out will be very substantial and a big financial burden on the retirees who desire to opt for pension, we represented to the Bank and Government to allow setting off Commutation Amount payable to optees against the amount due for joining the Pension Scheme. We are happy to inform that our request has been favourably considered. The Board of Directors at its meeting held on 20th November 2010 has authorised our Bank to set off the commutation amount and arrears of pension from 27-11-2009 to 31-10-2010 of the new optees against the amount due from them to join the Pension Scheme.
PLEASE CIRCULATE AMONGST ALL OFFICER COLLEAGUES
CIRCULAR TO MEMBERS NO.24 OF 2010 11th October 2010
Re: (i) Our Bank chosen as the Best Bank 2010.
(ii) Two days’ workshop on “Role of Defence Representatives”.
(iii) Damodaran Committee on Customer Service in Banks.
(iv) UFBU Meeting held in Mumbai on 7th October 2010.
We are extremely happy that our Bank of Baroda has been chosen as Business India’s Best Bank 2010. The panel was chaired by an eminent banker Shri O.P.Bhatt, Chairman of State Bank of
. Our hearty congratulations to Shri M.D.Mallya, CMD, Executive Director S/Shri R.K.Bakshi and N.S.Srinath, the entire Management Team and each and every Barodian, past and present for this unique award conferred upon our Bank by Business India as “clearly best-of-breed amid Several Success Stories”. A team of our office-bearers based in Mumbai led by the undersigned called on the CMD, greeted him with flowers and congratulated him on our Bank being honoured with such an award.
Two days’ workshop on “Role of Defence Representatives”
Our Association held a two days workshop in Mumbai on 30th and 31st August 2010 to train officers who are required to function as Defence Representatives. The workshop was inaugurated by Shri Arun Tiwary, General Manager (Greater Mumbai Zone) at 10.00 a.m. on 30th August 2010. Shri N.S.Srinath, Executive Director of our Bank gave valedictory address on 31st August 2010. S/Shri K.Sivashankaran, J.C.William, Sr.Manager (Vigilance) and Shri B.C.Jaieel, Chief Manager (Vigilance) conducted the programme which was appreciated by all the trainees from different Zones of our Association.
Damodaran Committee on Customer Service in Banks
Reserve Bank ofIndia
has constituted a Committee to look into banking services rendered to retail and small customers including pensioners and also look into the system of grievance redressal mechanism prevalent in Banks, its structure and efficacy and suggest measures for expeditious resolution of complaints. Shri M.Damodaran, former Chairman of SEBI is the Chairperson of the Committee. The Committee invited representatives of Workmen and Officers’ Unions for discussions in IBA’s office in Mumbai on 7th October 2010. The undersigned represented INBOC along with its affiliate in Central Bank ofIndia
. We met the committee and gave our suggestions. We also submitted to the Committee a detailed Memorandum incorporating our various viewpoints and proposals for improving customer service and resolving customer complaints.
UFBU Meeting held in Mumbai on 7th October 2010
A meeting of the UFBU was held in Mumbai on 7th October 2010. The list of issues discussed and decisions taken in the said meeting are as under:
Revised Scheme on Compassionate Ground: The meeting was seriously concerned to observe that the revised scheme on compassionate appointments/compensation scheme as mutually discussed and finalized between IBA and UFBU is pending consideration and approval by the Government for the past 20 months. The meeting decided that this issue must be pursued earnestly on top priority including by agitational programmes, if necessary.
Staff Loans: The meeting observed that while the Government’s earlier guidelines to the Banks on Staff housing Loan, Staff Vehicle Loan and Festival advance have become outdated due to escalation in costs, etc., and emphasized the need for early revision of guidelines.
Pension Scheme: As discussed in the earlier meetings, it was decided to pursue issues like improvements in pension scheme on the lines of Government scheme as amended under the 6th Pay Commission, periodical updation of pension, 100% DA neutralization on pension to all pensioners, improvement in Family pension, Ex Gratia paid to Pre-1986 retirees/their widows, etc. besides taking up the issues of pension benefit to those sections of retirees who are not presently covered by the scheme/settlement.
Recruitments: The meeting was concerned to note the acute shortage of staff in Banks and the need for adequate recruitments to provide necessary staff in the branches considering the increase workload, future requirements, programmes of financial inclusion, etc.
Khandelwal Committee Recommendations: The meeting noted that the Committee has made a number of recommendations which will adversely impact the employees, Trade Union movement and growth of Bank itself. The meeting therefore decided to outrightly reject the adverse recommendations of the Committee as the same are anti-employee and anti-union in their content and intent. The meeting decided to fight back these recommendations with all strength.
Business Correspondents: The meeting took note of the plans of the Government/RBI/Banks to outsource normal banking services through private business correspondents and observed that these are nothing but attempts to contractualise regular banking jobs endangering job security besides exploitation of educated unemployed youth.
RBI’s proposals of New Bank Licensing policy: The meeting took note of the recent proposals of the RBI envisaging licenses to be given to Corporates and Industrial Houses to open more Banks and to hand over RRBs to private hands, NBFCs, etc. The meeting pointed out that these proposals are most ill-advised and detrimental and hence need to be opposed and resisted.
Interaction with Retirees organizations: Representatives of United Forum of Retirees organisations met UFBU during the meeting and submitted their views and suggestions on the various issues concerning the retired employees. They sought the support of the UFBU in pursuing these issues and UFBU assured them of the same.
Friends, it will be observed that the situation is increasingly becoming hostile and there is no alternative for us but to unitedly resist and fight back these offensives. Hence UFBU has decided to unleash agitational programmes shortly.
PLEASE CIRCULATE AMONGST ALL OFFICER COLLEAGUES
CIRCULAR TO MEMBERS NO.23 OF 2010 4th October 2010
Re: 1) Overseas postings – Selection of officers up to MMG/S-IV
2) Merit Awards for 2008-2009 and 2009-2010.
We are happy to inform that the Bank has since announced the results of selection process for overseas posting of officers up to SMG/S-IV as under:
Names of 43 officers with postings
Names of 15 officers whose postings will be decided at a later date
Names of 6 officers who are kept in wait list.
We congratulate the above officers and wish them best of luck in their new placements.
Merit Awards for 2008-2009 and 2009-2010
As you are aware, the Welfare Fund launched by our Association gives merit awards to the children of our members in recognition of their academic excellence. Accordingly, children of our members who have paid the life membership and become members of Welfare Fund are eligible for the awards for the academic years 2008-2009 and 2009-2010. For your ready reference we give hereunder relevant details:
Qualifications Minimum % of Marks No. of Awards per Zone
S.S.C. 70 6
H.S.C. ( 3 streams) 70 6 (per stream)
B.A. 55 2
B.Com. 60 2
B.Sc. 60 2
Engineering No minimum 1 (per branch/stream)
Medicine “ 1
Any other degree/ “ 1
All officers who become life members by paying life membership fees by 31st March in the respective years, are requested to send their applications along with the certified copies of mark sheets to the Welfare Fund to their respective Zonal Secretaries on or before 23rd October 2010 as per proforma shown overleaf.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES p.t.o.
ALL INDIA BANK OF BARODA OFFICERS’ WELFARE FUND
APPLICATION FOR MERIT AWARD
Name of officer
Employee Code No.
Branch/Office/Zone where working
Name of the student
Stream which he/she has passed
Date & Year of passing SSC/HSC
Exam/Graduation/Post Graduation etc.
for which merit award is applied.
Maximum marks (Total of marks of Exam)
Total marks obtained
Exact % of marks obtained (% should be
calculated up to -3- digits after decimal point)
FOR OFFICE USE
We confirm that Mr./Ms.____________________________ is a member of All India Bank of Baroda Officers’ Welfare Fund.
CIRCULAR TO MEMBERS NO. 22 of 2010 13th Sept 2010
Re.: Implementation of Pension Settlement.
Please refer to our circular No. 20 of 12th August 2010 informing, inter-alia, that IBA with the consent of Government of India has advised all Banks to undertake exercise for seeking pension option from the employees both serving and retired who did not opt for pension earlier. IBA has also advised member banks to consider setting off the commutation amount of the optees against the amount due from them for joining the pension scheme.
We wish to inform that our Bank has now commenced the above exercise with the issuance of Circular to all Branches/Offices in India No. BCC:BR:102/246 dated 9th September 2010. In terms of the said circular
(1) Serving employees and who were in Bank’s service prior to 29th September 1995, and continue in service as on the date of Joint Note / Bipartite Settlement i.e. 27th April, 2010
(i) Should exercise the option within 60 days from today the 13th September 2010 to 11th November 2010 (both days inclusive).
(ii) They should also authorise the PF Trust of the Bank to transfer the entire contribution of the Bank along with interest to the credit of Pension Fund together with 2.8 times of the revised pay for the month of November 2007 recovered from arrears towards their share in the pension cost.
(2) Employees who were in the Bank’s service prior to 29th September 1995 but retired thereafter prior to 27th April 2010
(i) Should exercise the option within 60 days from today – 13th September 2010 to 11th November 2010 (both days inclusive).
(ii) They should also refund within 30 days after the expiry of the said period.
(a) the entire amount of Bank’s contribution to PF and interest accrued thereon received by them at the time of retirement and
(b) 56% of the amount received as mentioned above (a) on retirement.
(3) (i) Family of employees who were in the service of the Bank prior to 29th September 1995 and retired thereafter but died subsequently will be eligible for Family Pension.
(ii) Family of employees who were in service of the Bank prior to 29th September 1995 but died while in service of the Bank after that date will also eligible for Family pension.
Both the above categories of Families of Employees should undergo the process mentioned in point 2 above.
Only surviving ex-employee can commute the pension. Such employees who have completed one year after retirement and who wish to go for commutation, upto a maximum of 1/3rd of pension, will be required to undergo medical examination. Bank’s circular under reference is silent on the advice of IBA to consider setting off the commutation amount of retired optees against the amount due from them for joining the Pension Scheme. We shall appraise the details later.
Friends, all other relevant details are already communicated to you through our earlier circulars and also through the Book published and distributed by our Association amongst our members. For any clarification please talk to our representative across the country. If necessary, please talk to the undersigned on Mobile No. 09820442133 or Land Line numbers 022-22612058 or 022-22618484. We once again appeal to each and every PF optee in service of the Bank to opt for pension.
PLEASE CIRCULATE AMONGST ALL OFFICER COLLEAGUES
CIRCULAR TO MEMBERS NO. 21 of 2010 12th Sept 2010
‘Trust kept ......... along the memorable journey of 46 years!’
As ever, we rejoice and celebrate this memorable day of 12th September, when way back in the year 1964 All India Bank of Baroda Officers’ Association was founded by few visionary leaders to protect and secure the legitimate rights of the officers’ community in our Bank. When tradeunion movement in banking industry and mobilisation of white collar employees in private sector was a taboo, our past leaders, inspired by heart, decided to follow the call with faith in the motto and hope for the future generation of officers to support their actions. We are happy that the organisation continues to live upto its founding principles of assiduously protecting the officers’ interest, unitedly and vibrantly ever.
In keeping with the avowed tradeunion principle of securing the present rights for taking the future calls, our Association, as an affiliate of INTUC, the premier central tradeunion organisation representing a rainbow cross-section of workers in the country, participated in a series of action programmes last year to accelerate a settlement on wage revision and secure one more option for pension. In the current year, we have to ensure smooth implementation of pension option for the utmost benefit of both serving as well as retired employees. We are also happy that with the positive change ushered in by Shri M. D. Mallya the Chairman & Managing Director, we could get within the Bank the Promotion Policy amended and ensure re-transfer of officers undergoing inter-zonal transfers in time, on completion of tenure. We could also get an increase in the quantum of Housing and Conveyance loans at concessional rates of interest. Reduction in the rate of interest on Staff Overdraft facility brought considerable relief to officers.
While we are pleased with these achievements, we are conscious to take up other long pending issues related to working conditions and compensation for the hard work put in to achieve the targeted results, particularly the record profit. Financial reward to officers and all employees for the profit earned and various business parameters achieved as per MOU with the Government, is one such long pending demand. This remarkable achievement is certainly due to the hard work put in by employees, particularly officers, sitting late hours and working on holidays and Sundays. They deserve to be rewarded monetarily. We also note to pursue other issues like improvements in service conditions such as Enhancement in rental ceilings and other allied expenses, House Maintenance Allowance for officers staying in their own accommodation etc. in the current year. At the industry level, we are faced with the evil and debilitative recommendations of Khandelwal Committee like ‘Fixed and variable Pay’ etc. We are determined to oppose and fight against anti-employee recommendations, tooth and nail.
While we struggle for our rights and benefits both at industry and bank levels, let us not deviate from our firm commitment to work towards our Bank's business growth as a Team under the able leadership of our Chairman & Managing Director who has been taking all the right steps to gear up the organisational set up for reaching greater heights of glory. Leveraging the same manpower and infrastructure, he has steadily taken our Bank to a position of glory within two years, without much sound and fury. As foot soldiers, we should leave no stone unturned in realising the dream of our CMD to take our Bank to the level of State Bank of India in terms of business performance.
Friends, we have kept the Trust – of our members by always securing their legitimate rights and by striving to take our Mother Bank to the pinnacle of glory – all along the memorable journey of 46 years. On this day, let us pledge to continue to serve these interests with total commitment.
With greetings, Yours sincerely,
PLEASE CIRCULATE AMONGST ALL MEMBER COLLEAGUES
CIRCULAR TO MEMBERS NO.20 OF 2010 12th August 2010
Re: Implementation of Pension Option Settlement.
With regard to above please refer to our circular No 18 of 2010 dated 4th August 2010. We now wish to inform you that the interim stay granted by the Hon’ble High Court of
now stand vacated. With a view to facilitate early implementation of the settlement, IBA, with the consent of Government of India, has since advised all banks to undertake the exercise for seeking option from the employees, both serving and retired who did not opt for pension earlier.
Sanction of the Government is also accorded to implement the terms of Settlement / Joint Note dated 27th April 2010 between IBA and Unions / Associations for the grant of option to the retirees and payment of pension to such retirees w.e.f. 27th November 2009, who opt for pension and comply with terms and conditions set out in the Settlement / Joint Note for the grant of pension, pending necessary amendments in the Bank (Employees) Pension Regulations, 1995.
We repeat that the existing pension scheme will not be applicable to those, who join the services of banks on or after 1st April, 2010. Officers / workmen employees, joining services of banks on or after 1st April 2010 shall be eligible for Defined Contributory Pension Scheme on the lines of New Pension Scheme introduced for employees of Central Government. Such employees joining service on or after 1st April 2010 shall contribute 10% of Pay and DA towards the Defined Contributory Pension Scheme.
Officer / Workmen employees, who opted for Voluntary Retirement under Special Voluntary Retirement Scheme after rendering a minimum of 15 years service, will be eligible to exercise option to join the Pension Scheme subject to terms and conditions applicable to retirees. Pension / Family Pension will be payable to those, who opt to join pension scheme and comply with terms and conditions set out in the Settlement / Joint Note dated 27th April 2010.
For guidance IBA has also circulated drafts of the option letters to be obtained from serving employees and retirees. Banks have been advised to take immediate steps to circulate the terms and conditions on which another option is granted to non-optees described in the Joint Note reproduced in the Book published by our Association.
Banks have also been informed to advise those who retired from Banks’ service on or after 29th September 1995 / 26th March, 1996 in the last known address, the following information as available in Banks’ records.
Banks are also requested to consider setting off the commutation amount of the optees against the amount due from them for joining the Pension Scheme.
In terms of the Joint Note dated 27th April, 2010, Officer employees, who ceased to be in the service on account of retirement on superannuation, death or on account of VRS under special scheme prior to 27th April 2010 but after 29th September, 1995 from Nationalized Banks and after 26th March 1996 from Associate Banks of State Bank of India, are eligible to opt for joining the pension scheme as retired employees. Those who were in the service of the Banks as on 27th April 2010 will be eligible to join the pension scheme as serving employees.
Friends, concerted efforts made by Nine Unions constituting UFBU have made this long elusive 2nd option for pension possible. We appeal to each and every Provident Fund optee to avail this opportunity and opt for pension. We also request each one of you to kindly inform our retired colleagues, who did not opt for pension earlier, about the implementation of pension scheme and give them a copy of this circular.
PLEASE CIRCULAE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.19 OF 2010 7th August 2010
Re: Reimbursement of Expenses on Transfer
As you are aware the Bank had revised, with effect from February 2009, the rates of reimbursement of expenses on transfer to officers, as under; while approving the Transfer Policy for officers last year:
Distance in Kms.
Rate per Tonne per Km.
(To be applied on slab basis)
Upto 2000 Kms.
Beyond 2000 Kms.
Junior & Middle Management
Senior & Top Management
The above decision was taken by our Bank considering the enormous increase in cost of transportation of household goods together with other connected incidental expenses and to ensure that officers on transfer do not go out of pocket.
We are happy to inform that our Bank has agreed to continue the above rates of reimbursements notwithstanding a reduced provision of compensation as mentioned in Section 17 of the 9th Bipartite Settlement which IBA entered into with the industry wide Associations of Officers on 27th April 2010.
We take this opportunity to thank the management for this decision.
PLEASE CIRCULATE AMONGST OFFICER-COLLEGUES
CIRCULAR TO MEMBERS NO.18 OF 2010 4th August 2010
Re: UFBU Meeting held on 26th July 2010.
A meeting of UFBU was held in Mumbai in the office of AIBEA on Monday, the 26th July 2010. Shri K.S.Shetty, President AIBOC presided over the meeting. We give hereunder details of issues discussed and decisions taken.
1.Implementation of Pension option Settlement
The meeting took note that most of the Banks have implemented wage revision but no bank has so far implemented the Pension Option Settlement. The Pension Option Settlement provides that employees/officers who are in PF will pay 2.8 times of Nov.2007 Pay out of the arrears and the bank managements would offer them option to join the pension scheme. Unions’ obligation is that employees will pay the additional contribution and managements’ commitment is that pension option would be offered. The UFBU pointed out that while employees and officers have fulfilled their commitment with the recovery of the amount from arrears, bank managements are yet to honour their commitment to offer the pension option. In this connection the meeting took note of various Court cases including an interim stay in High Court of Madras obtained by a Union with handful of members attempting to stall the implementation of the pension option for which employees and officers have been waiting for the past many years. The UFBU decided to take all steps to remove such legal hurdles. We also decided to take up the matter with the IBA and the Chief Labour Commissioner (C), New Delhi to ensure immediate implementation of the Pension Option Settlement to existing PF optees and the retirees.
2. Improvements in Pension Scheme
The meeting observed that while securing another option to join the Pension Scheme is a significant achievement, further improvements are required to be made in the Pension Scheme having regard to the changes made in the same under the 6th Pay Commission Report. The UFBU decided to take up with the IBA the following issues:
3. Automatic Pension Coverage to those recruited from 1.11.1993
Under the Pension Settlement signed in 1993, employees and officers recruited in the banks from 1.11.1993 are to be automatically covered under the Pension Scheme. Even though the Government and the IBA assured to resolve this issue, the same is still kept pending. UFBU shall take up the issue with the IBA/Government.
4. Compassionate appointment Scheme
In the light of the agitational programme launched by UFBU, IBA discussed the issue with UFBU and a revised scheme for compassionate appointments/financial compensation was mutually worked out more than an year ago. However, the same is kept pending by the IBA and the Government. The meeting took exception to this inordinate delay and decided to pursue the issue vigorously for immediate implementation. The UFBU further decided to undertake agitational programmes if necessary to ensure the implementation of the Scheme.
5. Improvements in Housing Loan, Vehicle Loan and Festival Advance
With regard to improvements in other service conditions the meeting decided to demand immediate and uniform revision in the Government guidelines for higher quantum of housing loan with reduced rate of interest, improvement in Vehicle Loan scheme and increase in Festival Advance quantum.
6. Khandelwal Committee recommendations to be opposed
The UFBU took note of the recent report of the Khandelwal Committee on HR issues in Public Sector Banks. The Committee, amongst other things, has made the following retrograde recommendations:
UFBU decided to reject these anti-employee and anti-trade union recommendations. It further decided that if there is any attempt to implement the same by the Govt. or the IBA or by any of the Banks, the same would be opposed through organisational programmes including strike actions.
7. Take over of Bank of Rajasthan by ICICI Bank
The UFBU expressed its protest against the attempt of the ICICI Bank to fraudulently take over Bank of Rajasthan and extended its support and solidarity to the agitating employees and officers in Bank of Rajasthan.
8. Call of Central Trade Unions for ALL INDIA STRIKE
The UFBU welcomed the initiative of the Central Trade Unions to build up a united struggle against important issues like alarming increase in prices particularly food prices, job losses, disinvestments in public sector, violation of labour laws and allocation of inadequate funds for schemes for unorganised workers. The UFBU conveyed its support to all these demands and appreciated the united strike call. It was decided that each constituent unit will discuss in their respective forum and take a decision for joining the All India Strike on 7th September 2010.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.17 OF 2010 23rd June 2010
Re:1) Scheme for Rimbursement Of Entertainment Expenses under BOBOSR 1979.
2) Staff Overdraft facility – Reduction in the Rate of Interest.
3) Reimbursement of Conveyance Expenses to officers deputed
for Non - Residential Training Programmes.
Our Association has been representing to the Bank to revise and enhance the ceiling for Reimbursement of Entertainment Expenses under the captioned Scheme. We wish to inform that the Bank has since agreed to enhance the quantum of Entertainment Expenses as under:
Officers at Administrative Offices & Branches (Rs/p.a.)
SMG/SIV & V
TMG/S-VI & VII
*At very large and exceptionally large branches
NOTE : The revised limits as above, will be effective from Financial Year 2010-11.
Staff Overdraft facility – Reduction in the Rate of Interest
We have been representing to the Bank to reduce the Rate of Interest on Staff Overdraft facility from the prevailing 10.5% p.a. (BPLR 12% - 1.5%) considering a number of factors. We are happy to inform that the Bank has now considered our representation favourably and reduced the Rate to fixed 9% p.a.
Reimbursement of Conveyance Expenses to officers
deputed for Non- Residential Training Programmes
The Bank has also reviewed and increased the limits under the Scheme of Reimbursement of Local Conveyance Expenses incurred by officers deputed for Non Residential Training Programmes, internal or external, for travel to and from the Training Institutions, as under:
Centres Revised Rates
Mumbai, Delhi Kolkata, Chennai, Actual expenses subject to maximum of Rs.125/-
Hyderabad , Bangalore and per working day instead of Rs.80/- as at present.
All other centres Actual expenses subject to maximum of Rs.75/-
Per working day instead of Rs.50/- as at present.
We take this opportunity to thank the management for the above improvements in Service Conditions.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.16 OF 2010 7th June 2010
Re: 1) Inter Zonal Transfers
2) Congratulations to newly promoted
General Managers & Dy.Gen.Managers
We are happy to inform that the Bank has since considered our request favourably and agreed to retransfer willing officers as per details shown below:
will be completing 3 years of tenure as on 31st August 2010.
31st August 2010.
Such willing officers will be relieved after office hours on 19th June 2010.
We convey our grateful thanks to the Chairman & Managing Director Shri M.D.Mallya and the Executive Director Shri N.S.Srinath for this decision which will go a long way in motivating officers’ community further, General Manager (HR & Mktg) Shri O.S.Pillai for his perspective from the Transfer Policy angle and officers of HRM Department led by Asstt.Gen.Manager Shri S.K.Choudhary who all did an excellent work to put in place Retransfer and Deployment policy - 2010
Congratulations to newly promoted General Managers &
We take this opportunity to congratulate the newly promoted Executives from Top Executive Grade/Scale VI to Top Executive Grade/Scale VII in the rank of General Managers and from Sr.Management Grade/Scale V to Top Executive Grade/Scale VI in the rank of Dy.General Managers and convey our best wishes in their new assignments. We also take this opportunity to convey our best wishes to Chief Managers in Sr.Management Grade/Scale IV participating in the ongoing exercise for promotion to the position of Asstt.Gen.Manager in Sr.Management Grade/Scale V.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.15 OF 2010 5th June 2010
Re: Salary Revision for Bank Officers –
As you are aware our apex organization INBOC and other three organizations of officers requested IBA, during the discussions on salary revision, that pending final amendment to Officers’ Service Regulations as per procedure laid down under Section 19 (I) of Banking Companies (Acquisition and Transfer of Undertakings Act, 1970/1980), IBA may advise Banks to disburse immediately an ad-hoc amount, equivalent to the arrears payable for the period from 1st November 2007 to 30th April 2010 and continue to pay revised salary and allowances on ad-hoc basis.
IBA has agreed with us and made suitable recommendations to the Government in this regard. We are happy that the Government has since favourably considered the recommendations of IBA. Accordingly Banks will be advised to disburse arrears as above and pay revised salary and allowance, on ad-hoc basis, immediately.
Payment of Levy
In keeping with our past practice, it has been decided to collect a levy from the arrears at the following rates:
Officers in JMG/Scale I Rs.2500/-
MMG/Scale II Rs.4000/-
MMG/Scale III Rs.5000/-
SMG/Scale IV Rs.6000/-
We request each one of you to pay the levy as above.
PLEASE CIRCULATE AMONGST OFFICER COLLEAGUES
CIRCULAR TO MEMBERS NO.14 OF 2010 5th May 2010
Re :Historic Settlements on Salary Revision and
Second option for Pension.
Further to our Circular No.13 of 27th April 2010, we wish to inform that copies of the Joint Notes on Salary Revision and Pension Scheme detailing the conclusion reached on extending another option to join the Pension Scheme are ready for circulation. Members are requested to approach the respective Zonal Secretaries and obtain a copy for their information and record.
The Agreement signed between IBA and Nine Unions together constituting UFBU, covers all the 26 Public Sector Banks, 12 Private Sector Banks and 8 Foreign Banks with 7,75,000 Workmen employees and officers. This Agreement would cost the Banks additional wage bill of about Rs.5,200 crores per year, representing 17.5% increase on the wage bill as on 31st March 2007. One of the salient features of the Agreement is the provision to extend another option to join the existing Defined Benefit Pension Scheme to about 3,60,000 existing and retired workmen employees and officers. Both workmen employees and officer employees who have already joined and will join the Banks from 1st April 2010 will be covered by Contributory Pension Scheme as available to the Govt. Employees.
In the function organized to sign the Settlements in the office of IBA Shri M.V.Nair Chairman, IBA acknowledged and appreciated the positive contribution made by his colleagues in the IBA Negotiating Committee, CEO Mr.K.Ramakrishnan and other officials and also the positive role of the Trade Union representatives in bringing this Wage Revision Settlement to a most satisfactory and happy conclusion. He termed this settlement as historic and a real occasion to rejoice by the Banking Industry. The most unique aspect of the settlement being the most awaited benefit of Pension option to more than 3,60,000 serving and retired bankers. In fact it is a valuable Social Security coverage extended not merely to them but also to their families. Such a gesture has no parallel in any other industry. He urged upon Bank employees to take following -4- oaths:
On behalf of UFBU, its Convenor Shri C.H.Venkatachalam acknowledged and appreciated the excellent role and hard work put in by the entire Negotiating team. He described the settlement as the best possible in the given circumstances. Leaders of UFBU felicitated IBA Chairman with Shawl and bouquet for his highly supportive and positive role which facilitated these Settlements. Thereafter Chairman IBA and representatives of 9 Unions exchanged copies of the signed Agreements. Besides Chairman of IBA Shri M.V.Nair, IBA was represented byShri R.Sridharan, MD.
SBI, Shri Narayan Raja, DMD, SBI, Shri B.B.Das CGM SBI, Shri Rajeev Rishi GM, OBC, Shri K.Ramakrishnan CEO IBA, Shri Umerji, Legal
Advisor, Shri K.Unnikrishnan Dy.CEO and Shri M.Venugopalan, Officer on Special Duty. INBOC was represented by, besides the General Secretary Shri K.K.Nair, Shri P.G.Golvankar, Shri L.R.Prem Kumar, Shri Subhash W.Choudhari and Shri V.Ramamohan Reddy.
This historic victory for Bank Employees represents the best dividend for a tough but reasoned stand adopted by UFBU and its constituents during the strenuous journey of 30 months that began with the submission of Charter of Demands on 29th October 2007 and concluded with signing of the Agreements on 27th April 2010. We salute our entire membership for their splendid support and unparalleled unity and solidarity displayed throughout. Thank you! On this happy occasion we place on record our grateful thanks to our INBOC President, Dr. G. Sanjeeva Reddy, M.P., for his ceaseless and sincere efforts that paved the way for Bank Employees achieving the long awaited Salary Revision and 2nd option for Pension. We also take this opportunity to convey our sincere thanks to the Govt. of India, more particularly Hon’ble Finance Minister Shri Pranab Mukherjee for sparing his valuable time to INBOC representatives to discuss the issues arising out of Salary Revision and 2nd option for Pension which indeed made this land mark achievements possible.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO. 13 OF 2010 27th April 2010
Re: Salary Revision and Pension option.
We refer to our circulars No. 10 & 11 dated 6th April and 10th April 2010 respectively and are happy to inform that our apex organization INBOC, along with other three organizations of officers, has signed a Settlement on Salary Revision for Bank officers with IBA in Mumbai today. Details are shown in the Annexure.
The process of amending Officers’ Service Regulations to implement the revised Service Conditions will commence soon. Pending such amendment IBA has agreed to advise the Banks to disburse immediately an ad-hoc amount, equivalent to the net arrears payable for the period from 1st November 2007 to 30th April 2010 and continue to pay revised salary and allowances on ad-hoc basis. IBA has also agreed to make suitable recommendations, in this regard, to the Government of India.
Further, we are happy to inform that IBA has also entered into a Settlement with us on Pension Scheme extending another option for joining the existing Pension Scheme to employees, both retired and serving. This is a unique achievement for all Bank employees who have been urging for this social security cover. Such new optees will be required to share the estimated gap in the Pension Fund.
Copies of the above Joint Notes will be circulated shortly.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
ALL INDIA BANK OF BARODA OFFICERS’ ASSOCIATION
ANNEXURE TO CIRCULAR NO.13 OF 2010 DATED 27th April 2010
1) Scales of Pay
Scale I 14500 600 18700 700 20100 800 25700
7 2 7
Scale II - 19400 700 20100 800 28100
Scale III - 25700 800 29700 900 31500
Scale IV - 30600 900 34200 1000 36200
Scale V - 36200 1000 38200 1100 40400
Scale VI - 42000 1200 46800
Scale VII - 46800 1300 52000
Fitment shall be stage-to-stage, i.e. on corresponding stages from 1st stage onwards and the increments shall fall on the anniversary date as usual.
2) Stagnation Increments
Provided that officers who have completed three years or more after receipt of the second stagnation increment as on 1.11.2007 will get the third stagnation increment on 1.11.2007 and another stagnation increment on or after 1.11.2008 on their completion of six years after receipt of second stagnation increment.
Provided that officers who have completed three years or more after receipt of the first stagnation increment as on 1.11.2007 will get the next stagnation increment with effect from 1.11.2007 and a subsequent stagnation increment on or after 1.11.2008 on their completion of six years after receipt of the first stagnation increment.
Provided further those officers in substantive MMG Scale III i.e. those who are recruited in or promoted to MMG Scale III shall be eligible for four stagnation increments of Rs.900/- each for every three completed years of service. Those who have already received two stagnation increments and completed more than three years of service after receipt of second stagnation increment as on 1.11.2007 will get the third stagnation increment on 1.11.2007 and the fourth stagnation increment, on or after 1.11.2008 on their completion of six years after receipt of second stagnation increment.
3) Dearness Allowance
Dearness Allowance shall be payable for every rise or fall of four points over 2836 points in the quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960 = 100 at 0.15 of Pay.
4) House Rent Allowance
Major “A” Class Cities
and Project Area Centres in Group A
8.5% of Pay
Other places in Area I and Project Area Centres in Group B
7.5% of Pay
6.5% of Pay
5) City Compensatory Allowance
Places in Area I and in the State ofGoa
4% of Basic Pay
Places with population of five lakhs and over and State Capitals andChandigarh
, Puducherry and Port Blair
3% of Basic Pay
Reimbursement of medical expenses shall be as under:
Reimbursement of hospitalization expenses under Regulation 24 (1 (b) (i) of Officers’ Service Regulations, 1979/1982, shall be in terms of the Hospitalisation Scheme laid down under Bipartite Settlement dated 27th April 2010 for workmen employees, subject to following limits:-
Scale of Officer
a) Junior Management Grade Scale I and Middle Management Grade Scales II & III
i) Bed Charges
Self - Rs.700/- per day.
Family – Rs.525/- per day.
ii) Other Charges
At the scale of 125% of the limits laid down under the Hospitalisation Scheme applicable to workmen employees.
b) Senior Management Grade Scales IV & V and Top Executive Grade Scales VI & VII.
i) Bed Charge
Self - Rs.900/- per day
Family Rs.675/- per day
ii) Other Charges
At the scale of 150% of the limits laid down under the Hospitalisation Scheme applicable to workmen employees.
i. House rent recovery shall be @ 1.20% of the first stage of the scale of pay in which the officer is placed or the standard rent for the accommodation, whichever is less.
ii. Furniture rent recovery shall be @ 0.25% of the first stage of the scale of pay in which the officer is placed.
Fixed Personal Pay together with House Rent Allowance shall be at the following rates and shall remain frozen for the entire period of service.
DA as on 01.11.2007
Total F.P.P. payable where bank’s accommodation is provided (Rs.)
(i)F.P.P. as indicated in “:C” above shall be payable to those officer employees who are provided with bank’s accommodation.
(ii)F.PP. for officers eligible for House Rent Allowance shall be “A” + “B” plus House Rent Allowance payable on the last increment of the relevant scale of pay.
(iii)The increment component of F.P.P. shall rank for superannuation benefits.
(A) Officers shall be eligible for professional qualification pay as under:
(i) Those who have passed only CAIIB – Part I / JAIIB
Rs.410/- p.m. one year after reaching top of the sacle.
(ii) Those who have passed both parts of CAIIB –
(a). Rs.410/- p.m. one year after reaching top of the scale.
(b). Rs.1030/- p.m. two years after reaching top of the scale.
(i) Deputation Allowance (w.e.f. 1st May 2010)
Deputation Allowance shall be at the following rates;
a) An officer deputed to serve outside the bank – 7.75% of Pay with a maximum of Rs.2,300/- p.m.
b) An officer deputed to an organization at the same place or to the training establishment of the bank – 4% of Pay with a maximum of Rs.1200/- p.m.
(ii) Hill and Fuel Allowance
Places with an altitude of 1000 metres and above but less than 1500 meters andMercara Town
2% of Pay subject to a maximum of Rs.550/- p.m.
Places with an altitude of 1500 metres and above but less than 3000 metres.
2.5% of Pay subject to a maximum of Rs.680/- p.m.
Places with an altitude of 3000 metres and above
5% of Pay subject to a maximum of Rs.1570/- p.m.
(iii) Halting Allowance (w.e.f. 1.5.2010)
Grade/Scale of Officers
Major ‘A” Class Cities
Officers in Scale IV & above
Officers in Scale I/II/III
Provided that in the case of officers in Scale IV and above, halting allowance payable per diem while on outstation work at the four metros, viz. Delhi, Mumbai, Kolkata and Chennai, shall be Rs.1200/- and for officers in Scale I/II/III Rs.1000/-.
At places where special area allowance is payable in terms of Regulation 23(ii) of Officers’ Service Regulations, 1979/1982, the said allowance shall be payable at rates as in Annexure IV. Please await dsetails
The following provisions shall apply wherever an officer is required to travel on duty:
(a) An officer in Junior Management Grade is entitled to travel by 1st Class or AC 2 – tier Sleeper by train. He may, however, travel by air (economy class) if so permitted by the Competent authority, having regard to the exigencies of business or public interest.
The mode and class by which an officer may avail of Leave Travel Concession shall be the same as the officer is normally entitled to travel on transfer and other terms and conditions subject to which the Leave Travel Concession may be availed of by an officer, shall be as decided by the Board from time-to-time. Provided that w.e.f. 1st May 2010 an officer in junior Management Grade Scale I while availing LTC will be entitled to travel by air in the lowest fare economy class in which case the reimbursement will be the actual fare or the fare applicable to AC 1st Class fare by train for the distance traveled whichever is less. The same rules shall apply when an officer in Middle Management Grade Scale II and Middle Management Grade Scale III while availing LTC where the distance is less than 1000 kms.
a. The expression ‘family’ of an officer shall mean an officer’s spouse, wholly dependent unmarried children (including step children and legally adopted children), physically challenged brother/sister with 40% or more disability, as also parents ordinarily residing with and wholly dependent on the officer.
b. The term wholly dependent child/parent, wholly dependent physically challenged brother/sister shall mean such member of the family having a monthly income not exceeding Rs.3500/- p.m.
12. Project Area allowance
Project Areas falling in Group A – Rs.290/- p.m.
Project Areas falling in Group B – Rs.255/- p.m.
13 Mid Academic Year Transfer Allowance (w.e.f. 1st May 2010)
Payable at Rs.700/- p.m. subject to other conditions.
14. Split Duty allowance
Split Duty Allowance shall be payable at Rs.165/- p.m.
15. Compensation on Transfer (w.e.f. 1.5.2010)
To meet expenses connected with packaging, local transportation, insuring etc.
Grade/Scale of Officer (Rs.)
Officers in Scale IV and above 12,000/-
Officer in Scale I, II and III 9,000/-
16. Maternity Leave (w.e.f. 1.5.2010)
17. Pension Option
All officers in the service of the banks as on 27th April 2010 and who exercise their option to join the Pension Scheme in terms of the Joint Note dated 27th April 2010 for the purpose will contribute from their arrears on account of wage revision an amount of Rs.922 crores towards their share in the amount of Rs.1800/- crores towards 30% of the estimated funding gap of Rs.6000 crores. The said amount is worked out @2.8 times of the revised pay payable for the month of November 2007.
18. Date of Effect
For payment of arrears, the benefits under various provisions as above, shall be from 1st November 2007, unless otherwise specified against the relevant provisions.
CIRCULAR TO MEMBERS NO.12 OF 2010 13th April, 2010
Re: Wage Revision, Pension Option
and other issues -
Discussions on Pension Scheme
We refer to our Circular No. 11 dated 10th April, 2010 and wish to report that the negotiating team of IBA held yet another meeting with representatives of UFBU in the office of IBA at Stadium House, Churchgate, Mumbai, today.
In the meeting, IBA gave UFBU a revised draft of the proposed Pension Scheme for its consideration. The Draft covers various terms and conditions for extending the mutually agreed decision to offer another option to join the Pension Scheme to Existing Employees and Retired Employees and other details such as:
In the discussions that followed broad understandings have been reached on different provisions proposed in the draft scheme including sorting out formula for sharing gap in the Pension Fund for both existing employees and retired employees. However, difference still persists on the Date of Effect. IBA has maintained its earlier stand that date of effect will be only from the date of settlement but UFBU has reiterated and demanded 1st April, 2008 as the Date of Effect. We are determined to pursue this issue further.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.11 OF 2010 10th April, 2010
Re: Wage Revision, Pension Option
and Other issues – Further Developments.
We refer to our circular No.10 of 2010 dated 6th April, 2010 and wish to inform that, as scheduled, a meeting between IBA and INBOC together with the other three Officers’ Organizations was held in Mumbai on 9th and 10th April, 2010 to discuss and finalize Residual issues and Draft Settlement.
Issues related to increase in accumulation and encashment of Privilege Leave, Sick Leave upto 7 days without medical certificate and other types of leaves including special leave for lady officers to undergo hysterectomy, Defined Working hours, financial compensation for working late and on Sundays and holidays were discussed in the two days’ meeting. Discussions also covered the following issues:
We are happy that we are able to reach understandings on a number of issues with the negotiating team of IBA. We propose to take up the remaining issues with the Chairman of IBA seeking his direct intervention, immediately. Meanwhile we wish to inform that IBA will hold a meeting with UFBU on 13th April, 2010 to discuss and finalize Pension Scheme.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.9 OF 2010 3rd April 2010
Re: Wage Revision , Pension Option and other issues –
Distribution Chart finalized -
Final Settlement by 15th April 2010.
As reported to you vide our Circular No.08 of 2010 dated 31st March 2010, a meeting between IBA and INBOC along with other three Officers’ Organizations took place in Mumbai today. After discussions, understandings have been reached on Distribution Chart of pay-scales and other components paving the way for final settlement by 15th April, 2010. Details are as under:
Scales of Pay:
Scale I : 14500 – 600 X 7 – 18700 – 700 X 2 – 20100
– 800 X 12 – 29700 – 900 X 2 – 31500
Scale II: 19400 – 700 X 1 – 20100 – 800 X 12 – 29700
-900 X 3 - 32400 – 900 X 2 – 34200
Scale III: 25700 – 800 X 5 – 29700 – 900 X 4 - 33300
-900 X 2 - 35100
Scale IV : 30600 – 900 X 4 – 34200 – 1000 X 2 – 36200
Scale V : 36200 – 1000 X 2 – 38200 – 1100 X 2 – 40400
Scale VI : 42000 – 1200 X 4 – 46800
Scale VII : 46800 – 1300 X 4 – 52000
Stagnation Increments: Two additional Stagnation Increments each
has been provided in Scales I, II & III
Dearness Allowance : 0.15% per slab over 2836 points
House Rent Allowance: Major ‘A’ Class Cities - 8.5%
Other Places in Area I - 7.5%
Other Places - 6.5%
City Compensatory Allowance: Higher Centre - Rs.540/- P.M.
Lower Centre - Rs.375/- P.M.
Medical Aid: Scale I to III - Rs.5100/-P.A.
Scale IV and above - Rs.6320/-P.A
Details of Other Components such as FPP, PQP, Hospitalization Expenses, Hill and Fuel Allowance, Project Area Allowance, Split Duty Allowance etc. will be advised after settlement is signed by 15th April, 2010.
Another option for Pension will be given to all existing employees and those who have retired/died after Pension Regulation of 1995/1996.
Further time schedule:
IBA has fixed the next meeting with four Officers’ Organizations on 9th and 10th April, 2010 when residual issues and draft Settlement will be discussed and finalized. Simultaneously, draft of the Pension Scheme will also be finalized paving the way for reaching final settlement by 15th April, 2010.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
Circular to Members No. 8 of 2010 31st March, 2010
Re : Wage Revision, Pension option and other issues
With regard to the above we wish to inform that a meeting between IBA and UFBU was held today from 1.30 pm onwards in the office IBA, Mumbai. Prior to the meeting with IBA, a meeting of UFBU was held at 10.30 am in Mumbai.
In the meeting, the Convener Mr. C. H. Venkatachalam reported to UFBU constituents that there is no forward movement on the three issues viz. Effective date for Pension, Costing of Pension and Pension balancing (which means that a part of 17.5% increase in wages would go to SBI) inspite of various efforts put in by UFBU. The meeting also noted the growing impatience amongst the Bank employees to reach a settlement and the wild rumours in circulation.
In the above background, UFBU met IBA at 1.30 pm to reach a settlement on Pension and Wage Revision. In the detailed discussions that took place on Pension, quite unfortunately, certain problems cropped up on the number of employees who may not opt for pension considering their age, health and other circumstances. UFBU desired that the number under this category may be taken on assumption basis, say 10% and work out the Pension costing thereof. However IBA insisted that they are not for any assumption but for arriving at actual number.
As all are aware, counting the actual number of non-optees would be a time consuming process. Further, to exercise the option, one quite obviously needs to be advised of the terms and conditions of the Pension Scheme, time schedule etc. This will result in further delay, UFBU stated. However IBA insisted on the actual counting. As there was no progress to reach a decision on this issue, it was decided to adjourn the meeting to 3rd April 2010.
On Wage Revision, IBA submitted to the four officers’ organizations revised proposals on pay structure Rs.14500-52000, stagnation increments, various allowance etc. In the preliminary discussions that followed in the meeting of four officers’ organizations, INBOC reiterated its earlier demand that starting basic must be minimum Rs.15,000/- to rectify the injustice caused to junior officers during the last revision and other amendments. The four officers’ organizations shall meet again, reach a consensus on the IBA proposal and take it further in the meeting with IBA on 3rd April 2010. We shall advise the outcome after the meeting.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.7 OF 2010 10th March 2010
Re: Revised Promotion Policy for officers
We have reported to you vide our circular No.20 dated 14th August 2009 that discussions between our Bank and our Association are in progress for reviewing and revising the Promotion Policy for officers. We are happy to inform that based on the broad consensus reached on the various proposals discussed in the meetings the Bank has now revised the Promotion Policy. The major highlights are:
The current eligibility and the proposed eligibility in terms of number of years of service for the two channels for promotion of officers’ viz the Normal Channel and Fast Track Channel are given below:
I to II
II to III
III to IV
IV to V
V to VI
VI to VII
Total Time Span
As you will observe, total time span is reduced by 7 years for Normal Channel Promotions and by 4 years for Fast Track Promotions.
Existing weightage for various factors for promotion are revised as under:
I to II
II to III
III to IV
IV to V
V to VI
VI to VII
Please note that (a) interviews for Promotion from JMG/Scale-I to MMG/Scale II are dispensed with and (b) similarly Written Test for promotion from MMG/Scale III to SMG/Scale IV have also been dispensed with.
With this decision our Bank has put in place yet another important policy document that governs the service conditions of officers. We are thankful to the Chairman & Managing Director and his team associated with this process.
CIRCULAR TO MEMBES NO.6 OF 2010 25th February 2010
Re: Discussion with IBA on Wage Revision,
2nd option for Pension and other issues.
We wish to inform that a meeting between the Core Group of Negotiating Committee of IBA and representatives of the -4- Officers’ Organizations was held today from 10.30 a.m. onwards in the Committee Room of IBA, World Trade Centre, Cuffe Parade, Mumbai:400 005.
Prior to the meeting, leaders of the -4- Officers’ Organizations called on Shri K.Ramakrishnan, Secretary, IBA and submitted our revised common proposals for the consideration of the IBA. During the interaction, Secretary IBA and Officers’ Organizations shared the urgency to resolve the issue of Wage Revision, 2nd option for Pension and other issues.
A copy of the revised proposal was also submitted to Shri Jagdish Pai, Chairman of the Core Group of Negotiating Committee of IBA. In the discussions that followed, the representatives of the Officers’ Organizations explained in detail the logic and rationale behind revised proposals. Subsequently and in response to our proposals IBA submitted their two revised proposals. We discussed proposal I with a pay structure of :
Rs.15000 – 600 – 700 – 800 – 900 – 1000 – 1100 – 1200 - 1300 – 54,400
Discussions on various items such as increments including stagnation increments, HRA, Medical, Hospitalization expenses, etc., were inconclusive. Officers’ Organizations agreed to respond to IBA on their revised proposals in the next meeting.
In the meeting IBA reiterated its earlier position on Effective date for Pension as the date of Settlement and not 01.04.2008 as demanded by us. We disagreed with the decision of IBA and stated that cost of pension including SBI balancing and date of effect will be discussed and decided in the UFBU meeting first and conveyed to them.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.5 OF 2010 1st February 2010
Re: Increase in the quantum of Housing Loan
We are happy to inform that Bank has considered favourably our request to increase the quantum of Housing Loan with effect from today. Major highlights of the revised scheme are as under:
Regular Housing Loan
Eligibility: Confirmed in Bank’s service.
Loan limit: 90% of total cost or Rs.20 lac whichever is lower.
Rate of interest: 8% p.a. (Simple) or 4% less than BPLR, whichever is lower.
Margin : 10% of the cost.
Repayment: 240 monthly instalments – 180 instalments towards principal amount and 60 instalments towards interest. Recovery will commence after 2 years from 1st disbursement or -6- months after completion of house whichever is earlier.
Those officers who have availed regular housing loan before 01.02.2010 as per earlier scheme, but construction/purchase of house is incomplete and/or repayment of loan has not begun, will also be allowed to opt the housing loan under the revised scheme subject to the original estimated cost.
With this increase, the facility of Supplementary Housing Loan stands withdrawn.
Additional Housing Loan
The additional Housing Loan facility for repair, renovation and extension of house also stands revised, with effect from today, as under:
Eligibility: Confirmed in Bank’s service
Loan limit Rs.4 lac
Rate of interest: 8% p.a. (simple) or 4% less than BPLR, whichever is lower.
Repayment: 120 monthly instalments – 90 equal instalments towards principal and 30 equal instalments towards interest.
Margin 25% of the estimated cost.
Those officers who have availed additional housing loan before 01.02.2010 as per earlier scheme, but repair/renovation/enlargement of house is incomplete and/or repayment of loan has not begun, will also be allowed to opt the additional housing loan under the revised scheme.
NOTE (1) Optional insurance coverage will be extended on the pattern available to public. (2) Outstanding in the existing Housing Loan under the earlier scheme may be allowed to be converted into the new scheme with regard to the interest rate. (3) Other existing terms and conditions for both Regular Housing Loan and Additional Housing Loan remain unchanged. We take this opportunity to thank the CMD Shri M.D.Mallya for evolving the above employee friendly scheme for Housing Loan.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUE
CIRCULAR TO MEMBERS NO.4 OF 2010 30th January 2010
Re: United Forum of Nationalized Bank Officers’ Associations –
Meeting in Mumbai on 6th February 2010.
As you are aware, on 10th August 2009 four apex level organizations viz. AINBOF, AIBOA, INBOC and NOBO together representing almost 100% officers working in Nationalized Banks came together cutting across rank and affiliation and formed the Forum of Nationalized Bank Officers’ Associations. The objective of the new organization is to obtain parity in Service Conditions with that in SBI and other issues concerning officers in Nationalized Banks.
Since its formation the Forum has made rapid progress in co-coordinating officers force in Nationalized Banks. In a historic meeting held at Kolkata on 5th January 2010 participated by all-India leaders of all the above four organizations, decided to name the Forum as “United Forum of Nationalized Bank Officers Associations”. The meeting evaluated the present scenario in the Banking Industry and expressed serious concern on the working conditions and predicament of officers in nationalized banks including their requiring to work for long hours adversely affecting health, family and social life. The meeting decided to demand defined working hours and insurance to cover lending risks. It was also decided to pursue vigourously the primary demand of parity in salary, allowances, loans for purchase of housing accommodation, conveyance etc. with SBI. Need for immediate recruitment and merger of Banks were other subjects discussed in the meeting.
With a view to highlight these issues and to campaign against the disparities, UFNBOA decided to hold officers meeting in all State Capitals beginning with a meeting at Kolkata on 5th January 2010 followed by meeting in Mumbai on 6th February 2010, in Chennai on 20th February 2010, in Delhi on 19th March 2010 and in Hyderabad on 10th April 2010. The meeting held at Kolkata on 5th January 2010 witnessed a mammoth gathering of nearly 1600 officers who resolved to fight for achieving parity in Service Conditions and other goals set by UFNBOA. The next meeting, as scheduled, will be held in Mumbai on 6th February 2010 as per details given hereunder:
Date Day Time Venue
06-02-2010 Saturday 3.30 P.M. Rama Watumull Auditorium,
The meeting will be addressed by national leaders of UFNBOA. All officers working in nationalized banks in Mumbai and Thane Districts are called upon to attend this meeting and give our campaign a further momentum.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.3 OF 2010 25th January 2010
Re: Wage Revision
Yet another round of discussion took place between IBA and -4- Officers’ Organizations on 23rd January 2010 in the office of IBA. The management team was led by Shri Jagdish Pai, Chairman of the Small Committee of IBA. The meeting at the beginning paid Homage to Shri Joyti Basu, former Chief Minister of
and Shri Mohan Rao, Chief General Manager of Corporation Bank and a member of the Negotiating team of IBA, who passed away recently, by observing two minutes silence.
Initiating the discussions, IBA gave their revised proposals on Basic Pay structure beginning with of Rs.14,000/- and ending with Rs.54,400/-. On the pension costing IBA has agreed to exclude the cost of leave encashment on retirement as proposed by us in the meeting held on 29th December 2009. However, differences on the costing still persist.
With regard to effective date for pension payment, IBA reiterated its earlier decision of date of settlement, whereas we desired effective date from 1st April 2008. This has to be sorted out. With regard to cost of pension in SBI, a sum of Rs.132 crore is allocated which we objected and sought clarification. Thus, no finality could be reached on scales of pay, pension costing and other issues. We, the -4- Officers’ Organizations have decided to work out scales of pay, allowances and costing of pension based on the revised proposals given by IBA and submit the same to them by 27th January 2010. The next round of discussions will take place after IBA pursues our proposals. During the course of discussions IBA also informed us that Punjab & Sind Bank management has since submitted their mandate to IBA to negotiate salary revision and other service conditions for their staff, both workmen and officers. With this, the discussion covers all the Banks.
With Republic Day Greetings,
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.2 OF 2010 19th January 2010
Re: 1) Exercises for Promotions
2) Revision in Conveyance Loan Scheme
3) Wage Revision
We are happy that the exercises for promotions to Scale-II, III and IV commenced by our Bank in July/August 2009 to fill up 2620 vacancies now stand completed. We take this opportunity to convey our hearty congratulations to all successful candidates and wish them best of luck in their new assignments.
Revision of Conveyance Loan Scheme
One of the issues taken up by our Association with the Bank and pending quite for some time has been revision of the scheme for Conveyance Loan. We are glad that this issue has since been resolved by the Bank. Details are as under:
-4- Wheeler Loan Limit : 80% of the control price or Rs.7 lacs whichever is less.
Rate of Interest: 8 ½ % per annum (simple).
Repayment: 120 equated instalments (90 - towards principal and -30 - towards
-2- Wheeler Loan Limit: 90% of the control price or Rs.90,000/- whichever is less.
Rate of Interest: 8 ½ % (simple).
Repayment: 84 equated instalments (70 - towards principal and -14- towards
The revised scheme will be made effective from 1st February 2010.
The next round of discussions between the Core Group of the Negotiating Committee of IBA and representatives of the Officers’ Associations on Wage Revision will be held on 23rd January 2010 in the office of IBA, World Trade Centre, Mumbai. In this proposed meeting construction of Pay Scales, Allowances, Pension costing and other related issues will be discussed further. Prior to the above meeting, a meeting of UFBU will be held on 22nd January 2010 to sort out certain issues arising out of MOU signed on 27th November 2009 and reach a common understanding.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES
CIRCULAR TO MEMBERS NO.1 OF 2010 1st January 2010
NEW YEAR GREETINGS AND A NEW YEAR RESOLUTION
The New Year 2010 has dawned heralding yet another new decade with new hopes and aspirations globally, in our country, in Banking Industry and above all in our own Bank. To-day Banking Industry, about which we are immediately concerned, is uniquely placed on every front – be it Business Growth, per employee business, Profitability, Technology upgradation, introduction of customer friendly products enhancing the level of customer service and endeavour to reach international standards. As we earlier quoted the universal wisdom “He who sticks his neck out, makes progress”, the Banking Industry indeed made excellent progress.
On the IR front we have quite a few issues to be sorted out with IBA in the New Year. Converting the Minutes and the MOU signed on 27th November 2009 after prolonged agitations and protracted discussions, into a settlement on Wage Revision, 2nd Option for Pension and other service conditions assume our top most priority. In right earnest IBA has by now held two meetings with the Small committee of Officers’ Organizations, one on 9th December 2009 and the other on 29th December 2009. Proposals on construction of Pay Scales, revision of allowances, pension costing and other relevant aspects were submitted and are under discussion. Our endeavour is to conclude the discussions and reach a settlement within the time frame as provided in the Minutes and MOU. In our own Bank, efforts are on to get some of the major issues pending with the Bank, resolved.
Our Bank, in the year 2009 made remarkable all-round progress and “…smoothly navigated through 2009, despite the global meltdown. And now that we are seeing signs of revival, Year 2010 will only be better than last year” as stated by our Chairman & Managing Director Shri M.D.Mallya in a talk with a leading Economic Daily recently. The CMD has also given all of us a New Year Resolution “To continue to contribute to the economic growth by ensuring that Bank of Baroda (BoB) is able to provide quality customer service at affordable price and to make BoB an institution that every one would like to be associated with – be it shareholders, customers or employees”. Let us all rise to the occasion, put in our best efforts and realize this Resolution.
We wish all our members and their families a very Happy and Prosperous New Year 2010.
PLEASE CIRCULATE AMONGST OFFICER-COLLEAGUES