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Wage revision talks fail, bank unions threaten strike
Bank employees’ unions have rejected the 2% salary hike offer made by Indian Banks Association (IBA) and threatened to go on strike to press their demand.
Wage revision for Bank employees are due from 1 November 2017.
The initial offer of the IBA was meagre 2%, which was totally rejected by the constituents of the United Forum of Bank Unions, AIBOC general secretary D.T. Franco said in a statement.
UFBU comprises of 9 employees and officers union.
In the meeting held today IBA’s unjust offer of 2% was rejected by United Forum of Bank Unions, National Organisation of Bank Worker’s vice president Ashwani Rana said.
In the last wage revision IBA provided an increment of 15%. It has decided to send a detailed communication to the government immediately followed by a nationwide demonstration on 9 May 2018, All India Bank Officers’ Confederation (AIBOC) said.
It was also decided that unions will go for two-days strike if the government or IBA does not respond immediately, it said.
AIBOC meeting with DFS on 2nd May, Demands of AIBOC
AIBOC stands and demands for salary and other issues on 2nd May,2018 with DFS.
The starting basic of an officer in Govt is Rs.56100/-
The starting basic of an officer in RBI is Rs.35150 /-
The starting basic of an officer in LIC is Rs.33745/-
The starting basic of an officer in Bank is Rs.23700/-
Basic Pay is crucial for everything including superannuation. Hence we request that it should be similar to that of the Central Govt. Officers as presented by the Pillai Committee.
Other demands of AIBOC are:
i) Five Day Week
ii) Regulated Working Hours
iii) Child care leave for ladies with salary
iv) Crèche facility
v) Assured Pension
vi) Stop Cross selling etc.
[Copy of Charter of Demands & Further Notes submitted to IBA to be negotiated on 5th May ]
* Appointment of Officer Director / Employee Director
At present no Public Sector Bank has an Officer Director or Employee Director.
* Implementation of the Recommendation of the Parliament Standing Committee on NPA. If the recommendations are implemented the entire Banking Industry can be saved.
* Please don’t levy tax on Gross Profit. The tax should be on net profit.
* RBI should provide interest on CRR which at present is almost one lakh crores. This will help the Banks.
* Reimburse Expenditure on Govt Schemes.
The expenditure on Jandhan, Pension Yojana and other Govt Schemes if reimbursed will help the Banks.
* Stop Cross Selling
In the name of Universal Banking we have allowed Banks to sell insurance, Mutual Funds & other products. The huge incentive has lead to misselling. Please intervene.
* Review PCA
The 11 banks under PCA have not improved their performance. Hence a review is needed.
* Review IBC & NCLT
Both have created lot of problems. They are not helping Banks but benefit the defaulters and new purchasers of the companies. Urgent steps are needed.
D.T. Franco
General Secretary
AIBOC
High-value notes reason for cash crunch, says bank body
All India Bank Officers Confederation (AIBOC) has said that the present cash crunch is due to dependency on high-value currency notes of Rs 2,000 and Rs 500.
Hoarding of Rs 2,000 notes began after the Reserve Bank of India (RBI) stopped printing it and has precipitated into a cash crunch. Ravinder Gupta, the Delhi circle head of AIBOC told India Today TV that the cash crunch situation will take at least 7-10 days to normalise.
The AIBOC office bearer said that as per the data released by the RBI out of the total currency in circulation -- Rs 18.43 lakh crore -- close to 90 per cent is in Rs 2,000 and Rs 500 notes.
While smaller notes of Rs 100, Rs 50 and other denominations constitute a very small proportion yet remain in high demand by common people.
"When the RBI stopped printing Rs 2,000 notes, those hoarding money got a whiff of it and began accumulating these notes; this is the reason why Rs 2,000 notes are fast going out of circulation," Gupta said.
Experts suggest that Rs 2,000 notes are a favourite with hoarders and the government is aware of this. And that's one of the reasons why RBI has stopped printing these high-denomination notes.
Despite the cash crunch the RBI has made it clear that it will not resume printing of these notes. Instead the government has announced that Rs 500 notes worth Rs 2,500 crore will be printed per day instead of Rs 500 crore printed now.
AIBOC has blamed the RBI for the cash crunch. "The inequitable distribution of cash has lead to shortage in some states; Bihar, Gujarat are not poll bound but are facing cash crunch. This is as a result of poor management of cash," said Gupta.
Bank unions call for all-India strike on August 22
The United Forum of Bank Unions (UFBU), the umbrella organisation of five employee unions and four officer unions of state-run banks in the country, has given notice of their decision to go on nationwide strike on 22 August 2017 to protest reforms in the banking sector and other issues.
"The UFBU has observed that instead of taking urgent remedial measures to recover the alarmingly increasing bad loans in the banks which are threatening to drive the banks into a serious crisis. Steps like memorandum of understanding (MoU), prompt corrective action (PCA), Financial Resolution and Deposit Insurance (FRDI) Bill, Ordnance on non-performing assets (NPAs), and Insolvency and Bankruptcy Code (IBC) are only aimed to clean the balance sheets at the cost of the banks, which represent hard earned savings of the people, instead of recovering money," says CH Venkatachalam, General Secretary of All India Bank Employees' Association (AIBEA).
All India Bank Officers' Confederation (AIBOC)
VISION
AIBOC is a value based Trade Union, committed to
consolidation of Bank Officers’ Movement and the entire Managerial Staff
in India and abroad. It is against Exploitation, Victimization and
Attacks on the Working Class. Through Dedicated Service and Struggle, it
upholds the Dignity, Self esteem, Professional competence of its
Members to seek Fair, Equitable Compensation and Service Conditions.AIBOC is Politically not affiliated, Self Reliant, Internally Led, Independent Trade Union upholding Democratic values and involving itself in socially relevant issues. It is committed to National Unity, National Interest and the Public Sector.
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