Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2016

Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2016

Indian Banks’ Association

HR & Industrial Relations

No. CIR/HR&IR176/D/2015-16/2008

January 30, 2016

All Members of the Association

(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2016 under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December 2015 are as follows:-

October 2015                           6140.17

November 2015                           6162.99

December 2015                           6140.17

The average CPI of the above is 6147. Consequently, Dearness Allowance payable to employees is for 426 slabs for the period February, March & April 2016 i.e. an increase of 28 slabs over the current level.

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the months of February, March & April 2016 shall be 42.60% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,

Sd/-

K. S. Chauhan

senior Vice President

Note : The DA Payable under IXth Bipartite Settlement/Joint Note dated 27.04.2010 is @ [124.05% (6147-2836)=3311/4] i.e. 827 slabs @0.15% per slab).

Source:http://www.iba.org.in/Documents/Dearness-Allowance-FEB-MAR-APRIL-2016.pdf

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Bank Strike : Make 8th January Strike a total success – AIBEA

ALL INDIA BANK EMPLOYEES’ ASSOCIATION

Central Office: “PRABHAT NIVAS” Regn. No.2037

Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001

Phone: 2535 1522, Fax: 4500 2191, 2535 8853

e mail:chv.aibea@gmail.com & aibeahq@gmail.com

CIRCULAR No.27/141/2015/52

25-12-2015

TO ALL UNITS & MEMBERS

Dear Comrades,

Make 8th January 2016 strike a total success – massively associate yourselves against the naked attacks on bipartism in Associate Banks.

Further to our Circular dated 14-12-2015, we have duly served the notice on IBA and all Bank managements about our call for strike on 8th January, 2016 against the violation of bipartite settlement, negation of collective bargaining and repudiation of our hard-won trade union justifys by the managements of Associate Banks at the behest of SBI. We desired to resolve the issues through bilateral discussions and that is why on two occasions we deferred the strike call. But our hopes have been belied. Associate Banks’ managements and SBI feel that they are masters on their own.

They do not want to respect Bipartite Settlement. They do not care for collective bargaining. They seem to be not subject to any reasoning or rationale except their whims. They seem to be more interested in confrontation than dialogue and resolution. They persist with the violations. They insist on CPS. They are not bothered about existing settlements that subsist. They do want to desist from their wrongful decisions. Hence revival of the agitation has been forced on us. That is why the call for All India Bank Strike on 8th January, 2016.

Instead of utilizing dialogue and discussion to resolve the issues, the managements are in aggravation mode. One by one, the managements have gone ahead with their unilateral actions. Offer letters under CPS have been served on the employees in the Associate Banks. As expected, employees are spontaneously and massively rejecting the offer. But the managements are bent on moving in their own way. IBA’s attitude is also lukewarm and IBA appears to be a spectator instead of interfering in the matter and advising the Associate Banks to adhere to the bipartite settlement. That is why we have to show our strong resentment and observe the strike successfully.

March on comrades, move with your exemplary unity; resolutely manifest your solidarity; Strike with your traditional militancy. Make the strike a total success in all the Banks and in all States

With greetings,

Yours Comradely

Sd/-

C.H.VENKATACHALAM

GENERAL SECRETARY

Source: www.aibea.in

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Bank D.A. to increase 27 slabs from Aug’15, Pensioners to get 31 slabs hike

All India Consumer Price Index Numbers (AICPIN)for Industrial workers(IW) Base 2001=100 for the month of JUNE’15 which stood at 261 points with an increase of 3 points while compared to MAY’15 figure.

Consequent upon the merger of CPI at 4440 points with Basic Pay under 10th BPS/7th JN, serving employees new DA formula came into effect from 1.11.2012.( with DA factor @0.10 for every rise/fall of 4 points on CPI (IW) Base 1960=100)

As such the confirmed All India average CPIN for the quarter ended June’15 are as follows:

Month                                  Base 2001=100                             1960=100

April                                                256                                        5843.43

May                                                  258                                         5889.08

June                                                     261                                         5957.66

                                Average CPI 5896

Accordingly there will be 27 slabs increase in DA payable to workmen/Officers for the next quarter ie. Aug,Sept & Oct ’15 with 364 slabs at 36.40 % DA rate.

31 SLABS INCREASE IN DA FOR BANK PENSIONERS W.E.F NEXT HALF YEAR – AUG’15 TO JAN’16.

For official confirmation kindly wait for IBA circular which may be released shortly.

Courtesy : Mr Mohan P

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Hike in House Rent Allowance for Bank Employees as per 2011 Census

AIBEA Circular

Date : 6th July, 2015

Dear Comrades,

HOUSE RENT ALLOWANCE AS PER 2011 CENSUS

Recently Govt. of India has issued the Gazette notification for the Census as of 2011. It is the 15th Census in India beginning from 1872 and 7th since our independence.

Some data from the Census:

Population as per this Census in 2011: 121,01,93,422

Rank: No. 2 with 17.5% of world population ( 1st is China: 19%)

No. of Districts: 640

Most populace State : UP

Least populous State: Sikkim

Most populated metro : Mumbai : 1,84,14,288

Most Literate State : Kerala ( 94 %)

Least Literate State : Bihar ( 64 %)

Sex Ratio : 940 Female : 1000 Male

Literacy of Male : 82.14 %

Literacy of Female : 65.46 %

Highest populace District: Thane, Mumbai

100 % Literacy District : Palakkad, Kerala

100 % Banking State : Kerala

100 % Banking District : Palakkad

Increase in population from last census in 2001 to 2011: 18.1 crore

Some disturbing facts:

Total household: 24.39 cr; Rural households accounted for 17.91 cr (73%)

30 % of Indian rural households doesn’t have land and depend on casual labor for subsistence.

As many as 2.37 crore (one in eight) families in villages live in houses of one room with ‘kaccha’ walls and roof.

23.52 % rural families have no literate adult above 25 years

74 % of the rural households survived on a monthly income of less than Rs 5,000 of its highest earner

51 % of the households are engaged in casual, manual labour and 30 % in cultivation.

7 in 10 homes in rural live on less than Rs 200 a day

18.06 lakh people are still engaged in manual scavenging

Households with destitutes or those living on alms is over 6.68 lakh

As many as 4.08 lakh households rely on rag-picking.

Higher HRA for bank employees: Employees in the below-mentioned upgraded centres would get the revised/higher HRA rates and receive the arrears from 2011.

45 lacs and above HRA will be paid at 10% – Surat, Pune

12 to 45 lacs HRA will be paid at 9% – Asansol, Vijayawada, Rajkot, Faridabad, Srinagar, Jamshedpur, Kannur, Trivandrum, Mallapuram, Thrissur, Kozhikode, Jabalpur, Vasai-Virar, Nasik, Allahabad, Meerut, Ghaziabad

5 to 12 lacs HRA will be paid at 7.5% – Nellore, Kollam, Gulbarga, Ujain, Nanded Waghala, Malegaon, Sangli, Rourkela, Erode, Saharanpur, Noida, Firozabad, Jhansi, Siliguri, Durgapur.

In addition, in various towns and cities, number of small places in the outskirts have been brought as part of the bigger town/city/UA and such places would also attract the higher HRA of the concerned town/city/Urban Agglomeration.

With greetings,

Yours Comradely,

Sd/-

(C.H.Venkatachalam)

General Secretary

Source: banknewskumar.blogspot.in

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Salary Revision for Officer Employees of Public Sector Banks governed by Officer’s Service Regulation

Government of India

Ministry of Finance

Department of Financial Services

Jeevan Deep. IIIrd Floor,

Parliament Street, New Delhi,

Dated the June 19, 2015

To

Sh. M.V.Tanksale,

Chief Executive,

Indian Banks’ Association,

Mumbai.

Subject: Salary Revision for Officer Employees of Public Sector Banks governed by Officer’s Service Regulation – 10th Bipartite Settlement for period 1.11.2012 to 31.10.2017

Sir.

I am directed to refer to your letter No. HR&IR/KSC/GOVT/665 dated 25th May, 2015 on the above subject and to say that Government has ‘No objection‘ to IBA authorizing the Banks to pay revised salary and arrears of pay and allowances to serving officers and revised pension and arrears to existing pension optees retired w.e.f. on or after 1.11.2012 as per the provisions at the Joint Note pending amendments to the Officer’s Service Regulations/Pension Regulations subject to the provisions made by the respective banks in the particular year.

2. As regards declaring 2nd and 4th Saturday as holidays and other Saturdays as full working days is concerned. IBA may rater to this Department’s letter No. 4/1/7/2015-IR dated 2.6.2015.

3. This issues with the approval of Hon’ble Finance Minister

Yours faithfully,

(S R. Mehar)

Deputy Secretary to the Government at India

Source:http://banknewskumar.blogspot.in/

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BANK EMPLOYEES WAGE REVISION-15% INCREASE IN SALARY AND ALLOWANCES - 10th Wage Agreement – IBA Circular

Indian Banks' Assassination

10th Wage Agreement

Indian Banks Association inked wage settlement with Employee Unions and Officers’ Associations today, 25th May, 2015. The settlement gives 15% increase in salary and Allowances to about 10 lakh bank employees.

Employees and officers from 43 banks including public sector banks, old private sector banks and some of the foreign banks benefit from the wage revision. The current wage revision is effective from 1st November 2012 and will be valid for 5 years. In all 11 All India Employees Unions and Officers’ Associations participated in the wage revision exercise.

The scale pay of Officers has been revised from Rs.14500 - Rs.52000 to Rs.23700 - Rs.85000. (Special allowance for officers ranging from 7.75% to 11% of basic pay along with applicable Dearness allowance has also been introduced)

The scale pay of Workmen - non-subordinate has been revised from Rs.7200-Rs.19300 to Rs.11765-Rs.31540, also the scale pay of Subordinate staff has been revised from Rs.5850-Rs.11350 to Rs.9560-Rs.18545. (Special allowance for workmen @7.75% of basic pay along with applicable Dearness allowance has also been introduced)

Another important feature of the settlement is that a medical insurance scheme is being introduced for families of employees.

The 15% wage revision would cost the Public Sector banks Rs.4725 crores as incremental Salary and allowances in a year. Banks have been making provision for wage revision from November 2012. Mr. T M Bhasin, Chairman, IBA and Mr. Rajiv Rishi, Chairman, Negotiating Committee of IBA led the Management team in the negotiations. IBA expects banks will implement the revision immediately.

IBA expects the salary revision to improve the moral of the bank employees, leading to better productivity.

Source: http://www.iba.org.in/Documents/10th_Wage_Agreement.pdf

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Latest developments on Bank Employees Wage Revision :AIBEA Report

ALL INDIA BANK EMPLOYEES’ ASSOCIATION

Central Office: “PRABHAT NIVAS” Regn. No.2037

Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001

Phone: 2535 1522, 6543 1566 Fax: 4500 2191, 2535 8853

FOR THE INFORMATION OF OUR UNITS AND MEMBERS:

19.05.2015 the distribution chart has been signed between IBA and our Unions covering the allocation to various heads. Pay scales and Allowances are as under:

A. Pay Scales: from 1-11-2012

Clerk: 11765 – 655/3 –815/3 –980/3 –1145/7 –2120 –1310/1– 31540 – 1310 x 8 = 42,020

Substaff : 9560 – 325/4 – 410 /5 – 490/4 – 570/3 – 655/3 – 18545 – 655 x 8 = 23785

Stagnation increments: 8 : Substaff: 8 x 2 years ; Clerk : 5 x 3 years + 3 x 2 years

B. Dearness Allowance: 0.10 % per slab of 4 points over 4440 points

C. HRA : 45 lacs and above: 10 % ; 12-45 lacs & Goa : 9 % ; other centres : 7.5 %

D. Transport Allowance: upto 15th Stage : Rs. 425 and others : Rs. 470

E. Special Pay:

i) SWO-B: 820; Head cashier: 1280; Spl. Asst. 1930

ii) Armed Guard/Bill Collector: 390; Daftary: 560; Head Peon: 740; Driver: 2370; Electrician/AC Plant Helper: 2040, Head messenger in IOB: 1630

F. PQP : Rs. 410, 800, 1210 , 1620, 2010

G. FPP : Clerk: Rs. 1310 / 1580, 1570, 1550, 1550 / 1450

Substaff: Rs. 655 / 790, 890, 780, 780 / 730

H. Medical Aid : Rs. 2200 per year

I. Special Allowance ( new allowance ) :

7.75 % of Basic pay; DA is payable on this allowance

The full Settlement is under preparation and is expected to be signed on the 25th May, 2015 (Monday).

Flash: Yesterday, RBI has given its in principle ok for implementing Full holidays on 2nd and 4th Saturday. Matter is being expedited with the Government now

Source : AIBEA

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AIBOA published discussion and decision taken in the meeting with IBA on 23.2.2015

ALL INDIA BANK OFFICERS’ ASSOCIATION

Circular No.6/VI/2015

February 23, 2015

Camp: MUMBAI

To:

ALL UNITS / STATE COMMITTEES

Dear Comrades,

WAGE REVISION – 18TH ROUND.

TOTAL QUANTUM CLINCHED.

A NEW SERVICE CONDITION INTRODUCED.

4 DAYS STRIKE CALLED OFF.

In the background of C.L.C.(Central) Delhi, counseling IBA and also representatives of the unions to get back to the negotiation on 20.02.2015, in which Com.Alok Khare, Vice Chairmen, Com.S.S.Shishodia, President and Com.Sanjay Khan Joint Secretary AIBOA participated and at the CLC’s advice IBA invited the unions for discussions on 23.02.2015.

To-day, a meeting was held at IBA office at 11.30 am. Representatives of all the eleven unions participated in the discussions.

2. IBA team was led by Shri.T.M.Bhasin, Chairman IBA, Smt.Arundhati Bhattacharya Chairman SBI, Smt.V.R.Iyer, Chairperson and Managing Director BOI, Shri.Rajeev Rishi,CMD,CBI,Shri.Ashwini Kumar,CMD DB, Shri.Arun Tiwari CMD UBI, Shri.Rakesh Sethi CMD All Bank, Shri.Animesh Chauhan MD&CEO OBC,Shri.Ashwini Mehra DMD SBI Shri.Shyam Srinivasan CEO Federal Bank, Shri.M.V.Tanksale CEO IBA, Shri.K.Unnikrishnan Dy CEO,IBA, Shri.K.S.Chauhan besides officials of HR department of IBA.

3. While initiating the dialogue Shri.M.V.Tanksale CEO IBA expressed the progress made in the last 18 rounds and also the meetings held with the subgroups with workmen and officers during this period. Shri.Rajeev Rishi Chairman Negotiating Committee IBA, picked up the thread from the last discussion held on 3.02.2015 and reiterated that unions should come forward with the revised demand. Com.M.V.Murali, Convenor UFBU presented in a pointed way the chronological progress of the conduct of the negotiations and also the ‘U’ turn of IBA on 03.02.2015 vis a vis the assurance made on 19.01.2015 precipitating the crisis.

4. Shri.T.M.Bhasin, Chairman IBA quoting the details of the earlier bipartite benefits, ultimately indicated the paying capacity of the individual banks is the deciding factor, indicated failure at Industry level to force a situation of individual bankwise settlement. He also appealed to appreciate the present situation in Q3 performance of various banks and realize the need to fold up the negotiation with the offer of further 0.5% increase from 13% made on 03.02.2015 by Shri,Rajeev Rishi, Chairman Negotiating Team IBA.

5. Smt.A.Bhattacharya Chairman SBI in her pointed presentation dealt the present position of Public Sector Banks vis a vis Private Sector Banks, present capital infusion announcement of Rs 6990 crores by Government of India and also to realize the need to finalise the agreement keeping in mind the various serious developments having global compulsions and also stipulations. To get the priority reallocation of PSB employees at par with Central government employees for the purpose of admission of the wards in Kendriya Vidyalayas by her efforts was also shared in the meeting. Smt.V.R.Iyer, too supported the view points expressed by Chairman SBI and explained the need to function as a team to keep PSBs in tact and not to allow the Private sector banks to sneak in to capture the business from us..

6. After protracted negotiations, ultimately the understandings have been clinched which are as follows;

a. Date of Effect 1.11.2012.

b. Total Increase of 15% in Payslip components- amounting of Rs 4725 crores.

c. Construction of new Basic Pay by merging 60.15% of D.A impact where of not to exceed 2% of BP plus DA amounting Rs 597 cr.

d. 2nd and 4th Saturdays will be holidays and other Saturdays will be full working Days.

7. Thus the exercise to construct new Basic Pay effective from 1.11.2012 has been initiated by sealing the agreement, with the first step to clinch a new working condition in the era of Information and Communication Technology explosion, quite nearer to our most important demand of 5 day working.

8. AIBOA place on record the role played by Com.D.Raja CPI MP leading AIBEA –AIBOA delegation to meet FM on 19/02/2015 and making sincere efforts to break the deadlock in the Banking Industry avoiding paralysis of the nerve centre of the economy in the last week of this month., due to the proposed 4 days strike which now stands called off consequent to signing of MOU as above. Detailed Pay structures may now be worked out with IBA in subsequent meetings besides discussions other left out issues including of those pertaining to retirees.

9. Comrades, while rejoicing this success of wage increase, let us not be complacent in our efforts to protect our Public Sector character of our Industry and also preserve the jobs and jobs security secured by the founding fathers of our movement.

CONGRATS !!! YOU ALL HAVE MADE IT TO HAPPEN.

Yours comradely,

Sd/-

S.NAGARAJAN.

GENERAL SECRETARY

Source: www.aiboa.org

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Bank leaders meet F.M. to press for wage hike

Representatives from the public sector Bank Unions today met Union Finance Minister Arun Jaitley to press their demand. The meeting comes ahead of nationwide strike, called by the Unions, for four days starting February 25 and indefinite strike from March 16 across the country.

All India Bank Employees' Association (AIBEA) and All India Bank Officers Association (AIBOA) officials have met Jaitley in New Delhi today and submitted a memorandum listing various demands, said C H Venkatachalam, All India Bank Employees Association (AIBEA).

"Today we only made a representation to the Finance Minister, it was not any negotiation meeting. Tomorrow Chief Labour Commissioner has called for negotiation meeting, where IBA will also be presented at New Delhi. Based on the outcome we will decide about the strike," said Venkatachalam, adding that as of now the scheduled strike is on. He added, during the meeting the Unions asked the government's intervention in early settlement of wage revision, timely appointment of workmen directors, merger of regional rural banks (RRBs) with their sponsor were some of the demands submitted today by the Unions to the Finance Minister.

Venkatachalm said the 40 minutes meeting with the Finance Minister was cordial and he listened to Union. Unions have called for a nationwide four day strike from February 25 followed by an indefinite strike in March onwards demanding wage revision.

Source:www.paycommissionupdate.blogspot.in

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Bank Bipartite negotiation between UFBU and IBA: Possibility of significant hike stands remote

Bank Bipartite negotiation between UFBU and IBA: Possibility of significant hike stands remote

On the eve of next bipartite negotiation between UFBU and IBA, scheduled the 3rd February’15 at Mumbai, possibility of significant rise in salary is looking a distant probability. As per sources, the deal is likely to be concluded soon, within just one or two more meeting and the rise will be only around 13% of pay slip components. The bipartite negotiation is likely to be signed within a month.

In the meantime Union minister of state for environment and forest Prakash Javadekar hinted that bank employees should not expect a significant salary hike.

Javadekar said the public sector banks are facing a challenge of non-performing assets (NPA) and their finances are strained.

Read more at : Times of India (Pune Edition)

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Detailed Report on Negotiations with IBA – BEFI

BANK EMPLOYEES FEDERATION OF INDIA

NARESH PAUL CENTRE

53 Radha Bazar Lane, (1st Floor), Kolkata – 700 001

e-mail : pradipbefi@yahoo.co.in Website : http://www.befi.in/

(Ph):033- 2225-4414/2236-5108 (M) 94331 44271 Fax: 033-2236-5109/2242-069

Circular No: 01/2015

08th January 2015

To All Affiliates/Office Bearers/CC/GC Members

Dear Comrades,

NEGOTIATIONS WITH IBA

At the very outset, we wish all our members, their families, well-wishers and all acquaintances a VERY HAPPY AND PROSPEROUS NEW YEAR 2015.

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Wage Negotiations with Bank Employees Unions/ Associations

India Banks’ Association

PRESS RELEASE

Wage Negotiations with Bank Employees Unions/ Associations

IBA is issuing this press statement in the backdrop of proposed relay strikes and agitational programs by Employee Unions/ Associations causing severe inconvenience to bank customers and general public.

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Bank D.A. for Nov 14 onward : Hike of 49 slabs.

Bank D.A. for Nov 14 onward : Hike of 49 slabs.

 Consequent upon the release of All India Consumer Price Index Numbers for Industrial workers(AICPIN) Base Year 2001=100 for the month of Septemberí14. by the Ministry of Labour and Employment to day,which stood at 253 points without any change while compared to August figure,the confirmed average AICPIN(IW) Base 1960=100 for the quarter will be as follows:

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Expected D.A. for Bank employees for Nov'14 to Jan'15

Expected D.A. for Bank employees for Nov'14 to Jan'15

Projected DA slabs 49 (7.35%) for Nov-14 to Jan-15

CPI for the month of August'14 has been announced as 5774.95(253) on 30.09.2014. Earlier CPI for the month of July'14 was announced as 5752.12(252).

The DA slabs payable for the period of Nov 2014 - Jan 2015 is based on the average increase of CPI for the month of July 2014 to September 2014. On assumptions of CPI data if it would remain same for the months of September 2014 as of August 2014 (i.e. 5774.95);  

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Bank staff may come under 7th pay panel

Bank staff may come under 7th pay panel

Even after several rounds of talks between bank  employee unions and the Indian Banks Association (IBA), there seems to be no consensus on the quantum of salary hike for over 800,000 employees at different public sector lenders.

While the IBA has indicated that the maximum hike that can be offered to employees is about 11%, unions are demanding a 25% raise.

With the stalemate still continuing, sources said a proposal could also be considered to bring them under the purview of the Seventh Pay Commission, which has already been constituted. A large section of bank employees are, however, unwilling to do the same.

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UFBU Circular on the outcome of the Bipartite Talks with IBA on 26.9.2014

Bipartite Talks with IBA – UFBU gives strike call

TEXT OF UFBU CIRCULAR

Further to the last round of meeting held on 17th instant, another round of bipartite meeting was held with the IBA today (26.9.2014). IBA was represented by Shri Rajeev Rishi (CMD Central Bank of India), Chairman of the Negotiating Committee along with other members of the Negotiating Committee. UFBU was represented by all its constituent unions.

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Representation of Bank and Insurance Employees

Press Information Bureau 

Government of India

Ministry of Finance 

Representation of Bank and Insurance Employees 

The Government has received representation/memorandum from employees of nationalized banks and Government Insurance Companies regarding their salaries, pension and other emoluments due to the employees/officers. 

The wage revision exercise in respect of employees of PSBs is undertaken through a bipartite negotiation process between Indian Banks’ Association (IBA), representing management of banks who have mandated it to negotiate on their behalf and the Unions/Associations of bank employees. The last meeting between IBA and Unions/Associations took place on 13.6.2014. 

In respect of the current wage revision of insurance companies, Central Government has already requested Life Insurance Corporation (LIC) and General Insurers’ (Public Sector) Association of India (GIPSA), coordination body of four public sector general insurance companies and General Insurance Corporation (GIC) to start wage revision consultation with their employee’s unions/associations. 

This information was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in Lok Sabha today. 

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Banks Employees Wage Hike Issue, Bank unions to meet Indian Banks Association to discuss on 13th June

Bank unions to meet Indian Banks Association to discuss Wage Revision

Employees unions of public sector banks are scheduled to meet Indian Banks’ Association (IBA) on Friday to discuss the issue of wage revision.

Representatives of the United Forum of Bank Unions (UFBU), an umbrella organisation comprising nine employees unions, will hold the meeting with IBA which represents managements of Indian banks.

The meeting – to be held on June 13 – was confirmed to PTI by C H Venkatachalam, general secretary of All India Banks Employees Association (AIEBA), a constituent of UFBA.

AIBEA is the largest PSBs employees union having a strength of about five lakhs banks employees.

Venkatachalam said: “This will be a crucial meeting. The management must consider the wage hike as an investment in their employees. Otherwise, with more private banks to be set up after the new bank licences are rolled out, they would easily poach from PSBs with higher pay packages.

“This will result in PSBs losing out after having spent considerable time, energy and money in fresh recruitment and training.”

Bank employees had gone on two-day nation-wide strike in February to press for their demands citing high inflation and rejecting the management’s offer of a 10% hike in the cash component of the pay package. It included basic pay, dearness allowance, house rent allowance, routine medical expenses and a special allowance, but excluding superannuation benefits, travel allowance and hospitalisation reimbursement.

“We want adequate hike in salary comparable to other sectors. Our readiness to agree to a low hike in the cash component will depend on the management’s readiness to accept our demands of taking care of housing as well as medical expenses of the employees and their family, including hospitalisation,” Venkatachalam said.

“In the last round of wage revision settlement signed in 2010 for 2007-12, the management had agreed to 17.5% raise in the total salary. This time, the employees are asking for an increase in the cash component of their salary,” he added.

Source:http://www.business-standard.com/article/pti-stories/ufbu-iba-to-meet-on-friday-over-wage-hike-issue-114061100736_1.html

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