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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UFBU proposed 5-days banking

 

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Bank unions given call for two-day nationwide strike against proposed privatisation of PSBs

 

The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has given a call for a two-day strike from December 16 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented in February, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of its disinvestment plan.

The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the past four years.

The government has listed the Banking Laws (Amendment) Bill, 2021, for introduction and passage during the current session of Parliament.

In view of this, UFBU has decided to oppose the move for privatisation, All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam said in a statement.

Strike notice for December 16 and December 17, 2021, has been served by UFBU on the IBA, he said.

Hence, he said, for the past 25 years, under the banner of UFBU "we have been opposing the policies of banking reforms which are aimed at weakening public sector banks".

Members of UFBU include All India Bank Employees Association (AIBEA), All India Bank Officers' Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers' Association (AIBOA) and Bank Employees Confederation of India (BEFI).

Others are Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO).

In a developing country like India, where banks deal with huge public savings and they have to play a leading role to ensure broad-based economic development, public sector banking with social orientation is the most appropriate and imperative need, he said.

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Banks unions call for two-day strike against proposed privatisation of PSBs

The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, on Tuesday gave a call for a two-day strike from March 15 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented last week, Finance Minister Nirmala Sitharaman announced the privatisation of two Public Sector Banks (PSBs)as part of its disinvestment plan.

The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the last four years. It has been decided to oppose the government’s decision to privatise banks during the meeting of UFBU held on Tuesday, All India Bank Employees Association (AIBEA) general secretary C H Venkatachalam said.

“The meeting discussed the various announcements made in the budget of the central government regarding reform measures like privatisation of IDBI Bank and two PSBs, setting up of bad bank, disinvestment in LIC, privatisation of one general insurance company, allowing FDI in insurance sector up to 74 per cent, aggressive disinvestment and sale of public sector undertakings, etc,” he said.

The meeting observed that all these measures are retrograde and hence need to be opposed, he added. After deliberations, it was decided to give the call for a two-day — March 15 and March 16 — strike against the government’s moves, AIBOC general secretary Soumya Datta said.

Members of UFBU include All India Bank Employees Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA) and Bank Employees Confederation of India (BEFI).

Others are Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) and National Organisation of Bank Officers (NOBO)

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11th Bipartite Settlement Next meeting on 9th Nov

 

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After lockdown- First meeting of Bipartite Settlement between IBA and UFBU on 22nd July

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Today's Bipartite Settlement talks with IBA - Points on which IBA agreed

Negotiation took place today. IBA started the discussion from 13.5% in view of the strike call without improvement of any other issues. After protracted discussion,it was agreed that hike will be 15% in pay slip cost, 5 day week will be pursued,  a small committee will be formed to work out on increasing load from 2,% & spl allowance merger.  IBA to share  data of pensioners with UFBU.

With this understanding the strike stands deferred and the UFBU  agitation programme will be in abeyance.

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IBA, UFBUs to meet on Saturday to close wage pact: Points to be discussed

The Indian Banks’ Association (IBA) and United Forum of Bank Unions (UBFU) will meet on Saturday to close the eleventh bipartite settlement. Among the key discussion points are an 18-20 per cent raise in wages and a five-day work week.

The tenth settlement elapsed in October 2017, and a deal was reached with IBA that a new pact will be effective from November 2017. The finance ministry, too, had instructed that negotiations begin six months earlier from the date of expiry of the last settlement.

Pressure is mounting on the both the IBA and UBFU as the three-day bank strike called from March 11 will see banks remain shut for six days in that week —March 10 is a holiday on account of Holi, and March 15 is a second Saturday. Bank unions have also threatened an indefinite strike from April if the wage pact is not closed.

“The meeting of UFBU held at Mumbai on (February) 13… came to the unanimous and inescapable conclusion that intensified (agitation has) to be resorted to press our demands for reasonable resolution and satisfactory settlement,” said a bank union office-bearer.The talks come just ahead of the mergers of four sets of state-run banks, effective from April 1. The mergers are of Punjab National Bank, Oriental Bank of Commerce and United Bank of India; Canara Bank and Syndicate Bank; Union Bank of India, Andhra Bank and Corporation Bank; and Indian Bank and Allahabad Bank.

“Wage issues will have a bearing on the merging banks in a big way. So, we want this to be settled ahead of fiscal year end,” said a bank official. Mergers in the recent past — be it the State Bank of India’s merger of its five associate banks with itself, or that of Bank of Baroda, Dena Bank and Vijaya Bank — had come well within the indicated time frame for hammering out the wage settlement.

“Wage issues will have a bearing on the merging banks in a big way. So, we want this to be settled ahead of fiscal year end,” said a bank official. Mergers in the recent past — be it the State Bank of India’s merger of its five associate banks with itself, or that of Bank of Baroda, Dena Bank and Vijaya Bank — had come well within the indicated time frame for hammering out the wage settlement.

UBFU’s revised demand was on the grounds that the gap between what bank employees earn when compared to those in the government’s equivalent grade has widened. And even after a 20 per cent pay hike, this difference will stand reduced only at the beginning of the scale, but will still be at about half of the same at the end of it.

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Bank unions reject IBA's wage hike offer in today's meeting- 11th Bipartite Settlement Updates

Bank employees unions on Thursday rejected Indian Banks Association’s (IBA) offer of 15 per cent hike in wages and decided to go ahead with two day strike beginning January 31, 2020.

IBA offered a 15 per cent hike in wages, a revision over previous offer of 12.5 per cent at bilateral meeting of bank and trade union representatives to avert agitation by bank employees.

C H Venkatachalam, general Secretary, All India Bank Employees’ Association (AIBEA), said banks have declined to consider demand for five days banking in week and merger of special allowance.

Banks, under aegis of IBA, have improved offer (15 per cent). But it not acceptable and United Forum of Bank Unions (UFBU) has decided to go ahead with proposed two-day strike (January 31 and February 01, 2020) he said.

Meanwhile IBA in a statement said in the meeting held today (on January 30, 2020), despite the revised offer of upto 19 per cent hike including performance linked incentive made from IBA side.

During discussions, IBA team explained the conditions of business, paying capacity of Banks and consistent efforts at providing various types of benefits to the employees. But Unions are pressing for some other demands which are not possible to accept, IBA said.

One such demand is for 5-day banking. It is known to all that the economy of the country is going through testing times.  Banks being the principal players in economic development, cannot afford to provide lesser number of working days for banking activities, IBA added.

United Forum of Bank Unions which consists of nine bank unions of employees and officers, viz. AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, INBOC, NOBW and NOBO, has given the call for agitational programmes including strike actions.

Unions have also planned a three-day strike from March 11, followed by an indefinite strike from April 01, 2020.

Some of the major demands include Wage Revision Settlement at 20 per cent hike on Pay slip components with adequate loading thereof, Scrapping of New Pension Scheme(NPS), Updation of Pension and Improvement in Family Pension.

For the convenience of the customers, Banks will keep alternative channels available and customers can utilise these alternate/digital channels of banking 24x7 for day to day banking.

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UFBU's reply on IBA's letter

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UFBU 's call for strike - See the Schedule

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Updates of today's meeting of 11th Bipartite Settlement

IBA team was led by IBA Chairman Mr. Rajnish Kumar, who is Chairman of SBI.

The following discussion took place :

1. Revised Offer : The offer for hike in Fixed Pay was enhanced from 12% to 12.25 % on pay slip. This offer is with 2% loading. "In view of overall difficult financial condition of Banks, it is not possible to go beyond this offer," was made clear by IBA. 

2. Special Allowance : Due to extra financial burden IBA refused the Demand for Merger of Spl Allowance with Basic.

3. Five Day Week : IBA flatly refused this Demand raised once again.

4. PL Encashment : At present PL can be encashed (i) on retirement (ii) while availing LFC.

A NEW channel for PL Encashment will be introduced. Employees can encash 5 days' PL every year against available balance.

As special case, those employees having less than 5 years' remaining service, shall be able to encash 7 day PL every year against balance available. 

5. Family Pension : IBA is working on enhancing it. They have accepted that it is not adequate.

6. Pension : For enhancement, cost factor is prohibitive. IBA is working on it. But they have not committed anything in this regard.

7. Performance Linked Incentive (PLI) :

As per suggestions made by Unions IBA came out with Revised Offer as under : 

It is payable on year on year increase in Operating Profit.

(A) If Operating Profit increase is between 5 to 10 %, the Incentive will be 2.75 % which equals 10 days' salary.

(B) if Operating Profit increases by 10 to 15 %, the Incentive will be 3.84 % which equals 14 days' salary.

(C) if Operating Profit increases by 15% & above, Incentive will be 5.75 % which equals 21 days' salary.

(D) For those Banks which could not register NET PROFIT, but it's Operating Profit increase is above 5% : the PLI will be @ 2.75% or 10 Days' salary.

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Next meeting of Bipartite Settlement for bankers on 13th Jan

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Updates of meeting between IBA and UFBU on 18th Oct 2019

In today's talks with IBA, the Bankers' Union had raised the following issues for taking decision :

Read More -  Caluclate your expected pay with 15% Hike 

1. Early settlement, 

2. Increase in their existing offer

3. Merger of special allowance into basic pay, 

4. 5 day a week working 

5. Improvement in family pension

6. Updation of pension

7. NPS at 14%

8. PLI - Performance Linked Incentive, modalities

9. Reduction in premium on medical insurance for retirees

Sec UFBU has informed that it was decided to clinch these issues at the earliest. Detailed circular follows.

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Bank unions revise demands, to seek pay rise of 20% at IBA talks

The United Forum of Bank Unions (UBFU) has said it will seek a 20 per cent pay hike when talks resume with the Indian Banks’ Association (IBA) on August 29 to seal the 11th bipartite wage settlement.

The key reason behind UBFA’s revised demand from the 15 per cent earlier is that the gap between what bank employees earn when compared to those in the government’s equivalent grade has widened. It was pointed that even after a 20 per cent pay hike, this difference will stand reduced only at the beginning of the scale, but it will still be at about half of the same at the ...

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