Posted: in Exam Results,Exam Updates,General by Manish Kumar 41 Comments

AIBEA UNION wage revision for bank employees

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Indian Bank Association IBA and UFBU United Forum of Bank Unions will hold talks for pay revision of bank employees on 27th November 2009.

The Indian Banks’ Association (IBA) and United Forum of Bank Unions (UFBU) have agreed to meet on November 27 to take the wage bipartite talks forward. Over 7 lakh public sector bank employees will keenly wait for the outcome of the meeting. Wage revision for them is due from November 2007.

Incidentally, both negotiating parties have agreed on a 17.5% wage hike. They have also in principle agreed to offer monthly pension to 2.66 bank employees, who did not opt for it in 1993. But their last meeting in the final week of September remained inconclusive as they could not arrive at the accounting methodology of pension.

“Issues like accounting for the cost of pension and the cost sharing arrangement between bank management and employees, the proposed introduction of New Pension Scheme (NPS) and variable pay are some issues that need to be resolved,” said All India Bank Employees Association (AIBEA) president Rajen Nagar.

UFBU — the umbrella organisation for nine leading bank unions — is not also comfortable with IBA’s proposal to introduce NPS for bankers joining after April 2010.

IBA and UFBU jointly finalise the pay hike plans for public sector bank employees. Talks on the eighth bipartite meeting has been on for quite sometime now. Public sector banks including State Bank of India have 2.44 lakh officers and 4.68 lakh workmen employees who are awaiting a wage revision now- FROM ECONOMIC TIMES

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Comments/Queries

  • Abhijeet Mathur
    Nov 27, 2009 at 05:29:pm

    The IBA has accepted the UFBU demands and the wage revision is agreed and the pension plan has been accepted by IBA.

  • prema raghu
    Nov 27, 2009 at 10:31:pm

    what is the methodology of granting pension to SVRS optees of 2001?
    whether they have to pay the abnk contricution of the PF with interest?

  • harsha
    Nov 28, 2009 at 12:25:pm

    what abt the compensation jobs talk??

  • gangadhar h k
    Nov 28, 2009 at 03:19:pm

    sharing of pension cost.
    what is the impact on the officer employee who is alredy un pension scheme with respect of cost sharing?
    is it young officer working for the pension of pf optees and retired emloyees contributing 33%?

  • praveen sachdeva
    Nov 28, 2009 at 08:37:pm

    The revision of hard fought wage revision is some consolation to the employees.one more option of pension is a welcome result..but if we compare with the hike provided to the govt employees, we are very much below par and have become second rated with all the workload,working hours,risk factor,disregard from the customers and the management and and the stress one has to undergo.

  • arvind l shah vrs form indianbank as manager
    Nov 29, 2009 at 02:20:pm

    what is the methodology of granting pension to SVRS optees of 2001?
    whether they have to pay the abnk contricution of the PF with interest? thanks alot-arvind shah

  • somnath pal
    Dec 03, 2009 at 07:28:am

    All the bank employees should thank their stars that they are still continuing with their jobs and there are no lay offs. You should understand that bank’s have a plethora of options to choose from to customize their banking operations. In fact,the face of Indian banking industry has undergone a total change in view of available technology viz. internet banking, CBS, cheque truncation facility and the latest mobile banking. Once these
    facilities fall in place, believe me the entire community of existing bank clerks will find themselves redundant. Banks will now require computer savvy professionals and those who are experts at
    marketing bank products.

  • SV
    Dec 08, 2009 at 08:20:pm

    An Appeal
    An appeal is made to all serving pension optee to unite & get prepared to file a writ against the pension load factor & present wage settlement. We (present employees who are pension optee) should not share pension load at any cost. Those retired in 1996 or onwards and now want to opt for pension must share the total burden. (They don’t even deserve to get 2nd option for pension because CPF was there conscious decision) We are not at fault they had taken decision to opt for CPF. They are increasing the load & as a result of which there is no compatible wage revision.
    Our one step forward will save our future & dignity in the banking.
    Let us unite and file a writ. Let us come forward.
    Write: pensionoptee@gmail.com

  • ELANGOVAN.P
    Dec 13, 2009 at 02:11:pm

    Dear Sir,
    I found in the approximate New Basic Pay Chart that the DA formula for every rise of 4 points ie per slab 0.14%. Here I will give you the exact calculation regarding new formula for DA.
    2288/2836*0.18=0.1452186 rounding off 2 digit it is 0.15%.
    If we are accept 0.14% DA we will be loosing 2.13% ie Rs.2.13per 100.
    For a senior person who was at 20th stage ie Rs.13210 will come around New Basic of Rs.19980 with 22% merger. He will be loosing Rs.425.57 per month (213slab*0.01). Please bring the contents to appropriet authority in next round off talks.

  • Ram Niwas Dedha
    Jan 21, 2010 at 06:40:pm

    sir, revision of h.r.a/c.c.a should be treated separately and at par with the central govt. employees viz. 30% h.r.a as there are certain essential elements in the pay structure for which equality must be maintained as these are the core expenses which can not be avoided and are equally applicable to all

  • s.m.basha
    Feb 02, 2010 at 12:26:am

    1)after merging DA upto sept2007(185 slabs),DA% on the revised scales shall be considered as follows. 2288/3028*0.18=0.1360 +17.5%on 0.1360= 0.1598 OR 0.16% for every 4 points increase over 3028 CPI.
    2)merger of DA upto 2836 is nothing but gross injustice. When the date of settlement is from 01.11.2007, why don’t merge the DA upto sept 2007.
    3)On future DA also the benefit of 17.5% shall be continued as above i.e.0.16% and not 0.14%as propogated, so far.

  • vijay kumar
    Mar 01, 2010 at 05:09:pm

    if wages of bank officers continue to fall one day banking industry will collapse

  • sujit
    Mar 05, 2010 at 06:46:pm

    It seems all union leaders of UFBU have already been paid their price therefore arrears to rest of officers doen not matter anymore. It is amazing as well as shameful also.

  • a joseph innocent justin
    Mar 05, 2010 at 07:12:pm

    what ever be the outcome of the talks, there is no proper flow of information from our top level leaders to lost employee in the bank. all the news are spreading just like “gossip”. instead of talking about our further action plan, in branches we are simply scolding our union leaders , like shouting at politicians. nothing will happen even one of our employee is not known what is happening in the wage revision talks.

  • Pawan
    Mar 07, 2010 at 04:25:pm

    Our leaders are making money

  • madan lal grover
    Mar 11, 2010 at 02:50:pm

    sir i want to know the status of employee of state bank of sasurashtra who have opted for vrs in 2000 and ater that state bank of saurashtra was merged into state bank of india , what is the status of those employees of state bank of saurashtra who have not opted for pension scheme in their career through out, and now they feel like cheated .

  • abc
    Mar 22, 2010 at 03:57:pm

    With meagre salary package of bank employess as compared to other central govt employess there will be problem of retention of new recuited employees / dishonesty in banks and frustaration under severe pressure to perform. Govt should honestly think about it and bring them up to the expected level in salary structure at least

    ABC

  • vijay kumar
    Mar 28, 2010 at 01:53:pm

    i quit the job of central govt in1998 & joined the bank as a PO and hoped that future of a bank officer is better in all aspects than a central govt employee but now i feel frustration,
    it looks that job in public sector bank is not so good as I imagined it for my future,
    pressure is always there some time for budget and on transfer admission for children
    i am not a pressure cooker, it will burst one day……………………….

  • SATINDER SINGH
    Mar 28, 2010 at 02:25:pm

    we want to know the exat position/status of our issues. Are being they settled or not, r your are giving lollypop to us. what is the status of union have they been dead. All the zonal sec. are being questioned, what is the answer for them to reply about the existence of unions. pls. reply.

  • atanu sarkar
    Mar 31, 2010 at 09:12:pm

    we are anxiously waiting for final settlement. We have experienced downward trend
    of economics e.i depression.In the high price market the revision will bring some
    rain to the desert.

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