Latest Bipartite Settlement News - IBA agreed to form three sub-committees and discussions start

 


Today's meeting with IBA under chairmanship of Sri Rajneesh Karnatak Ji, UFBU discussed Charter of Demands for 12th Bipartite Settlement. UFBU discussed all points which was submitted earlier to IBA. 

IBA and management listened all points positively.

 

They agreed to form three sub-committees to expedite settlement and try to finish it by Dec 23.

 

From IBA side Sri Gopal Murali Bhagat Ji, Sri Brajeshwar Sharma Ji and from Management side CGM HR of Bank of Baroda, Indian Bank, Bank of India, and GM HR of Bank of Maharashtra, UCO Bank were present. 




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Latest Bipartite Settlement News-Today's UFBU Meeting with IBA


Today bipartite talks for next wage revision settlement formally began between iba and ufbu. Iba has formed the main Negotiating committee as well as Sub committees to discuss our demands. Discussion on our demands will continue from the next round of talks.

Today we have signed the minutes for extending 100% DA for pre Nov 2002 pensioners and family pensioners . Detailed circular follows. 







More News will be update soon...

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Latest Bipartite Settlement News - Finmin asks IBA to finalise wage revision of bankers of PSU banks by December 1


The government has asked the Indian Banks' Association (IBA) to initiate the process of negotiations for the 12th Bi-partite settlement in a time-bound manner and to finalise it by December 1, 2023, said a senior official.


The wage revision for employees and officers of the public sector banks is due from November 1, 2022.


The early wage revision would help improve working conditions and incentivise the banking sector employees, the official said.


Further, the official said, the finance ministry has asked IBA to ensure that all future wage negotiations should be finalised before the beginning of the subsequent period so that the wage revision could be implemented from the due date itself.


As a part of the settlement, the IBA is expected to engage in dialogues with the employees' Unions/ Associations and work out to arrive at a mutually agreeable wage settlement.


The government has stressed the importance of fairness and equity in the revision, ensuring that the compensation structure remains competitive with other players in the banking industry, the official said.


"Wage settlement for banks has always been a tedious and time-consuming process with bank managements, represented by IBA, and employees' unions engaging in tough negotiations. Historically, delays of 2-3 years in wage settlement have led to a substantial accumulation of arrears, which are eventually disbursed in a lump-sum.


"This contrasts with the more sustainable approach of integrating the revised wages into the regular monthly salaries," said the official.


Highlighting that the banking sector is the backbone of the Indian economy, the official said it is incumbent upon the management of banks to ensure that employees are adequately compensated and it is necessary for the health and stability of the entire economy as well.


It also comes at a time when the financials of the Public Sector Banks are healthy with the net profits almost tripled to Rs 1.04 lakh crore in FY'23 as compared to Rs Rs 36,270 crore earned in FY'14.


At the same time, the Return on Assets (ROA) in PSBs rose from 0.51 per cent in FY'14 to 0.78 per cent, while Net Interest Margin (NIM) has also increased from 2.73 per cent to 3.23 per cent in FY'23.


Wage settlement talks normally benefit employees of public sector banks, old generation private banks and some foreign banks.


In the previous agreement, 12 state-owned banks, 10 old-generation private sector banks and seven foreign banks signed up. New-generation private banks like HDFC Bank and ICICI Bank are not part of these settlement talks.


The last 11th Bipartite Wage Negotiations concluded after three years of negotiations in 2020 agreed for 15 per cent pay revision for PSBs employees.


Almost 3.79 lakh officers and close to 5 lakh bank employees of PSBs, old-generation private banks and foreign were covered under the wage hike due from November 1, 2017.


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IBA has Given Approval For Payment of 11th BPS Arrears & Salary To PSBs

Indian Banks' Association (IBA) has given its approval to the management of the Public Sector Banks to make payment to their employees as per the settlement terms of 11th BPS, which was signed on 11th Nov 2020. The permission letter also permitted to pay the enhancement if any in perk or benefits or differences.




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Minutes of Discussion between IBA &Workmen Unions on 10th Dec

Discussion between IBA &Workmen Unions 

A discussion between the Negotiating Committee of IBA and Workmen Unions (except BEFI) took place today in Mumbai. The meeting was held to discuss residual issues of Common Charter of Demand.  A supplementary minutes of today’s discussions is also available in social media.

We  observe from the minutes that two of the sensitive issues, among others, centring round which we took stand not to sign the MoU on 22nd July 2020, have been placed at the top of list for discussion. These are 5 day week and updation of pension. We feel that these issues should have been discussed with due importance and finalised while inking 11th BPS.

So far 5 day week is concerned, on the day of MoU, from BEFI we sought IBA's view on this. The negotiating committee remained silent on that day. The then Chairman of IBA told in an earlier meeting that IBA is not in favour of 5 day week as bank employees of our country are already enjoying more leaves comparing with other countries of the world. The stand of IBA seems to be unchanged as they reiterated their view unambiguously in today’s meeting also. We understand that so long IBA doesn’t change their stand on this matter, the issue is not likely to be referred to other stake holders.

In regard to periodical updation of pension on the occasions of wage revision and updation of pension for existing pensioners, the IBA is maintaining their self contradictory position. It is mentioned in the Minutes as comments/response of IBA that the current details of the Pension Fund in various Banks are being collected and based on these details, actuarial working also needs to be done. The IBA, all along the negotiation process, had been claiming that updation of pension require huge amount of money. When details of Pension Fund of all banks are not available with IBA, how they calculated fund requirement we wonder. Moreover, details of Pension Funds of most of the banks are available to different retiree organizations obtained through Right to Information which were duly forwarded to IBA. It is IBA who are finding difficulties to get the details from their member banks which are undergoing audit every year. 

Secondly, the IBA during negotiation proposed for ad hoc increase and that too in phases starting with the earlier pensioners. The idea of truncated revision of pension has been reiterated in today’s Minutes wherein it is mentioned that, IBA is quite sympathetic to the issue, especially revision in pension for those who have retired under earlier Settlement periods when the emoluments were relatively lesser than at present. While we also feel that the amount of pension of the employees/officers retired during earlier settlements are very low but this idea has been mooted to create  division among the pensioners which  should not be allowed. Our struggle must continue for updation for all as had been done recently in RBI and no ad hoc increase, the pension is to be revised in RBI pattern.

Comrades, we must not lose our focus on other important issues. Along with 5 day week and updation/revision of pension in RBI pattern, our endeavour should remain for scrapping of NPS and extension of defined benefit pension scheme to all. 

We are going to lodge our strong protest against engagement of Apprentices in large scale by SBI, which has also declared a VRS scheme targeting as many as 30000 employees/officers. The banks are recruiting inadequate number of employees; more and more routine jobs are being outsourced. We seriously consider that need of the hour is sustained joint movement in the industry under the banner of United Forum of Bank Unions (UFBU). We shall take necessary initiative in that direction.








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IBA Confirms AIBEA - 11th BPS Arrears Payment Will Be Made in Dec 2020

 IBA has confirmed to AIBEA that the permission for making payment of arrears along with revised salary as per 11th Bipartite Wage Settlement was pending with Government and almost finalized.

The promise for making the revised salary payment was made in meeting between IBA and AIBEA on 10th Dec 2020.


Detailed Circular :-



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