Wednesday, October 10, 2018

IBA circular regarding revised rates of insurance premia for medical insurance scheme

Friday, September 7, 2018

CBPRO Circular on Medical Insurance Scheme

CBPRO Circular on Medical Insurance Scheme is reproduced below.

Circular 003/2018                                        Dated: 06.09.2018

Dear Comrades,

Medical Insurance Scheme

We learn from reliable sources that the scheduled Meeting between IBA Appointed Negotiating Committee and UIIC will take place on 10th September 2O18 where the issue of Premium will be discussed. Till then please ignore any communication from any Bank regarding the above. We have given our views and suggestions to IBA and UFBU. 

We are hopeful that our concerns will be taken care of.

With Regards,

Yours Comradely,
(A.Ramesh Babu)       (K.V. Acharya)                (S.C. Jain)
          Joint Conveners, CBPRO             General Secretary, AIBRF

Tuesday, August 21, 2018

Bank Retirees Issues -- Co-ordinated efforts by CBPRO AND AIBRF

Circular issued by CBPRO is reproduced below.
Circular 002/2018                                                   Dated: 20.08.2018

Dear Comrades,

Bank Retirees Issues -- Co-ordinated efforts by CBPRO AND AIBRF

Dear Comrades,

After the formation of Co-ordination between CBPRO and AIBRF we have moved forward further in pursuing all the pending issues with IBA, Department of Financial services, Ministry of Finance, Government of India and with the UFBU.

 CBPRO and AIBRF Leaders met Com. C.H. Venkatachalam General Secretary AIBEA and Com. Soumya Datta , General Secretary AIBOC at Mumbai on 17th afternoon . We could not meet Com. Sanjeev Bandlish, General Secretary NCBE and Convener UFBU due to delay caused in his arrival.

 We mainly discussed with them about the IBA Medical Insurance Scheme and put forward our suggestions to make the Scheme more affordable and acceptable. Our concerns were well appreciated by them and they assured all possible support from their side. We have expressed our wish to have more interactions between them and us in future too in respect of other pending issues of Bank Pensioners and Retirees.

CBPRO and AIBRF together represent almost the entire community of Bank Pensioners and Retirees and wish to move cautiously fully recognising the ground realities while pursuing the issues. 

In view of the above it has also become necessary for us to clarify that CBPRO or AIBRF have NOT organised any Dharna at Jantar Mantar on 24th August 2O18.  You all know that both the Organisations had earlier conducted several massive Dharnas at Jantar Mantar and at various important centres highlighting Bank Pensioners and Retirees issues. 

CBPRO AND AIBRF will be meeting shortly regarding further course of actions and meanwhile wish to create and maintain conducive situation for a purposeful dialogue and discussion with all the concerned authorities and organisations so as to arrive at proper decisions in respect of our issues. 

With Regards,

Yours Comradely,                   
(A.Ramesh Babu)       (K.V. Acharya)                  (S.C. Jain)
           Joint Conveners, CBPRO                General Secretary, AIBRF



Friday, August 10, 2018


Circular issued by UFBU is reproduced below.

 CIRCULAR No. UFBU/2018/14                                   Date : 08-08-2018


Dear Comrades,
As already informed to units, bipartite meeting was held today between IBA and UFBU regarding renewal of our Medical Insurance Policy for serving employees/ officers as well as for the retirees for the ensuing period 2018-19. IBA team was represented by Shri Rajkumar, Dy. Chief Executive, Shri S K Kakkar, Sr. Advisor (HR&IR), and Shri K S Chauhan, Sr. Vice President (HR).  All our constituent unions were present in the meeting.

IBA informed us that United India Insurance Co. has given their proposal for hike in the premium on the Policies both for the serving employees/officers as well as for the retirees as under:

Serving employees/officers :     Increase in premium by  29% over existing rate

Retirees(without Domiciliary) :  Increase in premium by 110% over existing rate

Retirees (with Domiciliary) :      Increase in premium by 144% over existing rate

We strongly objected to such steep hike in the rate of premium and informed the IBA that especially the hike in premium for the retirees is too exorbitant and not appearing to be relatable to actual claim ratio.  We urged upon the IBA to take up with UIIC to drastically reduce the premium.

IBA informed us that they are already seized of the issue and the matter is being taken up with UIIC.  We pointed out that the following points be kept in mind while finalizing the issue:

  •          There should be no attempt to discontinue the policy.  Policy should be continued and renewed.
  • ·         The premium rates should be drastically revised downwards.
  • ·         Pending discussion with UIIC, the Policy for both serving employees and retirees should be extended upto 31-12-2018 with pro rata premium.
  • ·         Cost of upfront payment of annual premium should be factored in while finalizing the premium rate.
  • ·         Change in age profile of serving employees and retirees should be taken into account while working out the revised premium rates.
  • ·         IBA should take up with the Government for exemption of GST on premium amount.
  • ·         Renewed Policy should include a penalty clause for delayed sanction of bills/ reimbursement.
  • ·         If broker will not be involved in the scheme, suitable mechanism should be put in place to deal with cases of repudiation of claims, etc.
  • ·         Uniform guidelines should be given by IBA for sanction of amount under Buffer allocation.
  • ·         Premium should be worked out on a composite basis by clubbing both serving employees and retirees.
  • ·         Premium for retirees should also be paid by the managements.

IBA took note of the above points raised by us and assured to keep these views in mind while further dealing with the same.

Next round of Talks on 18-8-2018:  Next round of Bipartite Talks (Sub-Committee) will be held on 18th August, 2018.  Discussions will be held in the forenoon with the Officers Associations and in the afternoon with Workman Unions.

With greetings,

Yours Comradely

(Sanjeev K Bandish)