Wednesday, March 31, 2010

IBA – UFBU next meeting on 3rd April

IBA – UFBU MEETING -  31.03.2010 

AIBEA version

"In IBA-UFBU meeting today (31-03-2010), pension cost and PF-Pension balancing issue have been sorted out.
Next meeting with IBA on 3rd April. 2010."

Source AIBEA website

Monday, March 29, 2010

AIBOA letter to finance ministry regarding wage revision and pension issues

We reproduce below the letter from AIBOA to the ministry of  finance

March 19, 2010


Shri G.C.Chaturvedi
Additional Secretary
Ministry of Finance-Banking
Government of India

Dear Sir,

We are extremely thankful to you for the discussions with you when we called on you at your office on 14.03.2010 to discuss certain urgent matters pertaining to the Industry.

  1. At the outset we had pointed out that the work chart offered by IBA in respect of revised scale structure for officers where the average loading has been too low for officers and so high for officers from Scales IV to VII.  We had suggested to IBA to discuss ways and means of giving more to Executives through fitment, grade pay etc., without distorting average loading and the continuous scale structure in vogue for all time now.

UBBU and IBA meeting

According to AIUBOF website  "UFBU will have talks among themselves on 31st March 2010 at 10.30 A.M. followed by meeting with IBA on the same day at 1.30 P.M. "

Sunday, March 28, 2010

IBA directs banks to implement New pension scheme w.e.f 1st April 2010

While all Bankmen/Retirees are anxiously awaiting to see the Final Settlement as per MOU dt.27.11.09 , IBA has directed all Banks to implement New Pension Scheme, w.e.f 01.04.10 to recruits join after the above dates. AIBOC has issued  circular  advising  their affiliates to protest strongly if the Managements of the Banks come forth with an agenda in the Board Meeting for introduction of the New Pension Scheme before signing a regular settlement on Pension Issue and such agenda should be got deferred  by employee representatives on the Boards
  AIBOC has also written a letter requesting IBA  to issue revised  instructions to the banks regarding this issue. For detailed cicular click on the link below.
AIBOC circular  

Thursday, March 25, 2010

Rumors regarding wage settlement - AIBOA clarification

Regarding various rumors on wage settlement AIBOA has given following clarification on their website.

"The era of SMS / e mail is again at its overtime work.  As if the havoc is not enough the draft copy of the workmen agreement is being circulated under the name of IBA amongst members in Banks.
This is further confounded by the rumours that at 25th March agreement is being signed on Bipartite.  Anxious queries and spreading of information is taking place everywhere as to settlement is getting signed.
We have to clarify that the only meeting that took place for officers with IBA was one informal meeting with IBA Chairman on 15.02.2010 at Mumbai where after IBA office gave us a revised chart for scales and other items for discussions.
However the most contentious issue of pension balancing for SBI, incremental cost on pension and date of effect of pension etc., were not taken upon with IBA as it was decided that these issues would be decided in the UFBU meeting.
UFBU meeting is yet to be fixed and we are awaiting the same."

Source - AIBOA Website

Friday, March 19, 2010


" Following the informal talks with IBA Chairman and his team at Union Bank Head Office at Mumbai on 11.03.2010, matters were further discussed with IBA officials at their office on 17.03.2010.

Yesterday IBA has furnished their updated chart with scale structure of 15000 to 54400 and some minor changes in HRA, CCA,& Hospitalization rates and with one stagnation increment.

However issues relating to Pension in respect of date, incremental cost, pension balancing, PF balancing etc., besides uniform loading on scale structure still awaits UFBU decision.

Further response will be made after study of draft agreement copies on pension, wage etc. to be furnished by IBA.
Units are requested to inform the members to await for development even while we are striving our level best to overcome tendencies to overturn terms of MOU to our detriment.  Needless to say we want immediate settlement on acceptable terms and not to be imposed on reasons of time favourable climate etc. alone."

Source - AIBOA Website

Monday, March 15, 2010

Talks with IBA by Officers Unions on 15th March

Discussions with IBA  officials  and four organisations on wage and pension revision held on 15 th March  - "Talks  positive and next talk will resume shortly"  according to the source.

Friday, March 12, 2010

Next meeting with the IBA on the 15th March, 2010 at Mumbai

According to AIBOC circular, there  will be a meeting with the IBA officials with four officers’ organisations on Monday the 15th March, 2010 at Mumbai to arrive at amicable solutions on cost distribution etc.  A list of residual issues to be discussed and finalised simultaneously with the wage settlement is provided to IBA.   A draft settlement on pension issue is being prepared at IBA level, which will be made available   for perusal, shortly. For AIBOC circular click on the link below.
AIBOC circular regarding meeting with IBA chairman

Improvement in pension regulations

AIBOC has  addressed a letter to the Chairman, IBA suggesting amendments to Pension Regulations 1995 for Bank employees with regard to family pension, revision of rate of family pension to be on par with the government employees and revision in commutation value etc. 
Click on the following link to view AIBOC circular
 AIBOC letter to IBA regarding improvement in pension regulations

Thursday, March 11, 2010

Talks of date - 11.3.10 with Chairman, IBA by officers union

The four officers organisations met IBA chaiarman and his team on 11.03.2010. Talks are fruitful. Next date of the meeting will be informed shortly.

  Source - AIUBOF Website

Tuesday, March 9, 2010

Officer organisations leaders to meet IBA Chairman

Leaders of 4 officers organisations will meet  IBA chairman on 11.03.2010 at Mumbai  to discuss modatlities of wage revision and pension.

Source -  AIUBOF  Website

Saturday, March 6, 2010

Will pension issues be settled at the time of wage revision ?

There are long pending issues like 100% neutralization of D.A to pre 01/11/2002 pensioners, updation of pension etc. The process of wage revision for existing employees and granting of second option of pension to pf optees (serving emloyees as well as retirees) is getting delayed due to various reasons. This creates  a doubt whether the pensioners issues will be resolved at the time of wage settlement or not. We are conducting opinion poll on this point. Please vote by clicking on the answer as per your opinion, in the right hand top corner grey box.