12th Round of Discussion on Wage Revision for Bank employees

Bank Employees Wage Revision – 12th Round of Discussion on Wage Revision for Bank employees and Officers held on 17.09.2014

A.K.Nayak Bhavan, 2nd Floor 14, Second Line Beach,
CHENNAI-600 001

Circular No. 10/VI/2014

September 19, 2014




After lapse of 90 days, one more round of discussion on much vexed issue of wage revision was held on 17.09.2014 at Mumbai. Our organisation was represented by Com.Alok Khare, Vice Chairman in the meetings held. Eleven unions participated in the scheduled discussion.
2. Preceding the IBA meeting, the Nine constituents met at the Overseas Branch of State Bank of India, to evolve a common approach to resolve the issues of non financial and financial. The IBA team was led by the newly elected Chairman of the Negotiating team of IBA Shri Rajiv Rishi, [CMD, Central Bank of India], Shri Rakesh Sethi, [CMD, Allahabad Bank], Dr.J.N.Mishra[DMD, SBI], Shri Animesh Chawhan,[ED, Central Bank of India], Shri Shyam Srinivasan [Chairman, Federal Bank], Shri Unnikrishnan, Dy.CEO, IBA besides the officials of HR Department, IBA.
3. The Chairman IBA Shri T.M.Bhasin[CMD, Indian Bank] before handing over the reins of negotiations, narrated in a candid way the constraints faced by the management, viz., depressed performance of the economy reflections of it on Banking scenario, bulging bad loans due to which the stress and strains on the profitability and ultimately affecting the paying capacity of the Bank to the wealth Managers of the Banking system.
4. Compassionate Appointment Scheme: While appreciating the concern and initiatives of IBA in following up the release of the sanction from Government of India, IBA was requested to take up with Government of India to get the benefit to the left out cases [31.07.2004 to 04.08.2014] and also clarify the emerging operational difficulties.
5. Jan Dhan Yojna – concern was expressed over the thrusting of Jan Dhan Yojna, with targeted approach, diluting KYC norms & without adequate infrastructure being fraught with immense potential risk & staff accountability issues besides difficulties to the Banks & customers. It was submitted that while the unions are not against any initiatives benefiting common people, Government directives such as 8 am to 8 pm workings on Saturdays for Jan Dhan Yojna are totally unwarranted and unacceptable. Any additional work by bank men beyond stipulated timings must therefore be suitably compensated.
6. On Wages Representatives of IBA remained stubborn during the negotiation, contenting that Payslip component of 11% offered on the 11th round discussion on 13.06.2014 was itself too high with severe constraints faced by the Banking system. IBA was reiterating their concern to discuss their list of issues simultaneously.
7. Responding to IBA, UFBU representatives categorically expressed that they would be flexible in their stand provided IBA too respond with improved offers on financial issues coupled with other non financial issues like Regulated Working hours for officers, 5 days working, Discipline and Appeal Regulations, Pension improvements etc., for immediate and satisfactory resolution.
8. Regulated Working Hours – Our attempts to highlight Regulated Working Hours problem has finally led to this emerging as one of the key wage revision issue for the first time. A Joint letter by four officer’s organisations seeking IBA clarificatory directions has accordingly been submitted to IBA on 17th September 2014.
9. Miles to go… Comrades, with this meeting while the held up wage negotiations have resumed, a lot needs to be done still, for clarity to emerge on our demands. As you are aware, all along, AIBOA has been endeavouring to secure overall improvements in officers working conditions besides monetary issues.

The next date for the discussion is likely to be next week.

Download Circular No: 10/VI/2014 dated 19.09.2014 issued by All India Bank Officers’ Association