Bank officers to ‘work-to-rule’ over pay hike row

COIMBATORE, OCT 11:  

The All India Bank Officers' Confederation (AIBOC) has decided to stick to office hours and not attend office on Sundays/ holidays and extended office hours with effect from Monday.

The AIBOC Executive Committee has also authorised the leadership to decide about a strike for minimum of two days along with other constituents of UFBU (United Forum of Bank Unions) in the first week of November to press their demand for early settlement of wage revision.

Sharing details of AIBOC's Executive Committee discussions at Delhi, District President of AIBOC, Coimbatore J Vanangamudi told Business Line that the committee had, among others, discussed wage revision for officers, working conditions and other issues including stringent action against bank loan defaulters. 

Voicing criticism about the unrelenting stand of the IBA, he said "we have created a record of sorts in financial inclusion, implemented various policies and programmes of the government, but the IBA is adamant even towards our genuine salary revision demand. We have therefore decided to withdraw extra co-operation by strictly observing office hours, not attend office on Sundays and holidays. We are also planning a massive rally at Jantar Mantar on October 13, country-wide protest demonstrations with UFBU constituents on October 17 and one-day dharna between Oct 18 and Oct 31 at all State capitals".

(This article was published on October 11, 2014)

http://www.thehindubusinessline.com/news/states/bank-officers-to-worktorule-over-pay-hike-row/article6491957.ece

SBI may offer flexible hours, work place for women staff

The bank will target youngsters with digital banking drive

MUMBAI, SEPTEMBER 29:  

State Bank of India’s women employees, engaged as remote experts to interact with customers for digital banking, may get to enjoy a bit more flexibility when it comes to work place and work hours.

With the bank rolling out digital banking branches in High Streets and shopping malls, work place and work hours flexibility is within the realm of possibility, feels Chairman Arundhati Bhattacharya.

India’s largest bank is toying with this idea in the backdrop of its introduction of a two-year sabbatical leave for women employees during their entire career.

SBI’s digital banking branch allows instant account opening with a personalised debit card.

Further, the branch also offers Remote Expert facility, whereby customers can interact with the bank’s experts via high-definition video for advice on their financial needs — loans, life insurance, general insurance, demat account, securities, etc.

Battacharaya said: “As we go ahead with this kind of remote experts in digital banking, we are trying to see whether there is a way in which we can make the work place and work hours a little more flexible. But these are things that we are still working on.

“Now, if you (an employee) are having conversation with customers from a place other than the branch, the bank needs to have the right kind of recording facility and the right way of monitoring. This is not easy. So, we will see. ”

The first woman chief of SBI said her bank has opened seven digital banking branches across Delhi, Mumbai, Bangalore and Kolkata in the last few months.

New brand

For its digital banking drive, SBI is creating the “sbiINTOUCH” brand.

“It is called sbiINTOUCH because it is supposed to put us in touch with the younger generation and because it is a touch experience. It is a sub-brand of SBI.

“These branches enable us to get the tech-savvy youngsters in. Youngsters are at home with technology and this sort of enables them to do a lot of things on their days out because these branches are all in High Street and shopping malls,” Bhattacharya said.

(This article was published on September 29, 2014)

http://www.thehindubusinessline.com/industry-and-economy/banking/sbi-may-offer-flexible-hours-work-place-for-women-staff/article6458485.ece

Talks on wage revision break down; bank unions plan national strike

Improvements on many counts, but IBA not to raise wage offer beyond 11%

KOCHI, SEPTEMBER 29:  

Following the breakdown of its negotiations with the Indian Banks Association (IBA) for a wage revision agreement, the United Forum of Bank Unions (UFBU) has decided to go on a one-day all-India strike later next month.

Employees will wear black badges on October 10 and country-wide protest demonstrations will be conducted on October 17. A one-day dharna will be held at all State capitals between October 18 and 31. This would be followed by a one-day, country-wide protest strike, date for which is yet to be decided.

The decision to resort to further agitations to press the IBA to agree to a more liberal wage offer was taken by the UFBU leadership after the failure of the September 26 talks. The UBFU has been demanding a 25 per cent revision in pay slip components, but the IBA offered 11 per cent.

Union leaders told BusinessLine that while the IBA negotiators were flexible on certain issues, they were adamant that the wage increase could not go beyond the already offered 11 per cent in monthly salaries. The unions were ready to scale down their demand, but the banks’ management was totally inflexible, they alleged.

Wage agreement

At the negotiations, the IBA wage negotiation team was led by Central Bank of India Chairman and Managing Director Rajeev Rishi. The talks on a five-year wage agreement in the banking sector have been going on for more than a year.

UFBU leaders said that at the latest round of talks, the demand for 100 per cent reimbursement of hospitalisation expenses of the bank staff and their families was raised. The IBA agreed to the unions’ demand that employees will be covered by the Mediclaim scheme, but they had to submit their claims to the banks and that the reimbursement will be made by the banks with the improved benefits of the new insurance scheme. A final medical reimbursement plan will be worked out based on the consensus.

The IBA is willing to consider the demand for 100 per cent DA on pension for pre-November 2002 retirees. The IBA will also consider a reasonable proposition on updating pension. It will look into the demand for a five-day week if UFBU submitted a new set of proposals. On the issue of regulated working hours for officers, the IBA agreed to study the new proposal submitted by the unions.

The IBA’s suggestion of implementing the CTC (cost-to-company) principle was rejected by the unions. The suggestion of limiting the wage talks up to Scale-III officers instead of up to Scale-VII was also rejected.

(This article was published on September 29, 2014)

http://www.thehindubusinessline.com/industry-and-economy/banking/talks-on-wage-revision-break-down-bank-unions-plan-national-strike/article6458482.ece

SBI announces revised, liberal home loan scheme for staff

THIRUVANANTHAPURAM, OCTOBER 3:  

State Bank of India has revised housing loan scheme for employees by incorporating liberal provisions in terms of maximum limits and expanded repayment period across categories.

The scheme was last revised in February, 2008. The latest revision was announced in a corporate circular dated September 30, 2014.

Group insurance

The new housing loan entitlements were decided on by a meeting of the executive committee of the central board held in Mumbai on September 19.

The benefit of revised housing loan scheme will be applicable to all eligible employees who are on roll as on September 19. The revised ceiling and interest rates will be effective immediately to all new loans sanctioned/ disbursed on or after September 30.

The bank is considering the possibility of covering all new staff housing loan accounts with a group insurance policy as an added welfare measure to all employees.

The central board noted that the loan limits fixed six years ago have lost relevance due to increase in prices of land and construction materials. Property rates have gone up substantially.

Employees/ officers have had to resort to borrowing on commercial rates to complete housing projects or to acquire ready built-up flats/houses.

Loan conversion

Existing commercial housing loan may be converted under the new scheme. Option for enhancement of loans is also allowed to liquidate existing loan, subject to conditions.

On promotion, an employee will be permitted to draw up the entitlement to the grade/scale to which he/she is promoted, for repaying loans taken on commercial/public terms.

The board noted that a number of employees have raised additional housing loan from the bank at commercial rates. Such staff members may be permitted to take the housing loan up to their revised entitlement for repaying the outstanding housing loan, subject to conditions. This facility is available only as a one-time measure and has to be used up before June 30, 2015.

Repayment for the new loans will be in 360 instalments (224 for principal + 112 for interest + maximum moratorium of 24 months.)

In the case of existing loans, the original repayment schedule of 168 + 72 instalments will continue.

(This article was published on October 3, 2014)

http://www.thehindubusinessline.com/industry-and-economy/banking/sbi-unveils-home-loan-scheme-for-staff/article6469190.ece

Wage revision: Bank unions plan protests from Oct 10

THIRUVANANTHAPURAM, SEPT 28:  

The United Forum of Bank Unions (UBFU) has decided to resume the agitation path to protest the ‘adamant’ stand of the Indian Banks’ Association (IBA) with respect to the pending wage revision.

Accordingly, employees will wear black badges on October 10. Country-wide protest demonstrations will be conducted on October 17.

INDEFINITE STRIKE?

A one-day dharna will be held at all State capitals between October 18 and 31.

This would be followed by a one-day country-wide protest strike, the date for which is yet to be decided.

The next option was intermittent and relay strikes, which would give way to an indefinite strike unless a solution is found to the vexed issue.

According to CH Venkatachalam, General Secretary, UBFU, the latest round of talks with the IBA was held on Friday last.

The UBFU has been demanding a 25 per cent revision in pay slip components, while the IBA has offered a “very meagre” 11 per cent.

The IBA wanted to know the UBFU’s views on introduction of the cost-to-company method as well as fixed and variable pay concepts. The unions reiterated that the same was not acceptable to them.

WAGE REVISION

Cost-to-company indicates the employee’s total expense for the employer in a year. This includes all facilities given during the service period.

Venkatachalam said the IBA insisted on limiting the wage revision discussions up to scale III officers instead of up to scale VII, which was also rejected.

On the vital issue of improvement in the IBA offer of 11 per cent, it continued to plead its inability unless the UFBU scaled down its demand in view of the financial constraints of banks.

“This was despite the UBFU indication that we would be flexible in our demand, depending on improvements in other areas.

“We categorically informed IBA that we would be reasonable and flexible provided IBA reciprocated. But the IBA chose to ignore and did not offer to improve its offer.”

However, the talk found some common ground on a few other areas of dispute.

HOSPITAL EXPENSES

For instance, there was a detailed discussion on the demand for 100 per cent reimbursement of hospitalisation expenses incurred by the employees/ officers and family members and the IBA offer of a group mediclaim scheme.

“We explained apprehensions about the implementation of the scheme and hassle-free reimbursement of claims.

“We reiterated that employees/officers should not be required to deal directly with the insurance company or their Third Party Administrators,” Venkatachalam said.

IBA agreed and has accordingly clarified that even though employees would be covered by the mediclaim scheme, they would continue to submit their claims to the management.

The reimbursement would be made by banks with the improved benefits of the scheme accruing to the employees.

BROAD CONSENSUS

IBA also agreed to incorporate the suggestions of the UFBU while finalising the scheme. Hence a broad consensus was mutually agreed upon and the final scheme would be worked out accordingly.

Other demands raised were: 100 per cent DA on pension for those retiring before November, 2002, improvement in family pension, and periodical updation of pension; introduction of five-day banking; and regulated working hours for officers.

IBA said it was inclined to favourably consider the demand for 100 per cent DA on pension for pre-November 2002-retirees.

An improvement in family pension was being worked out and a decision would be taken soon on the same.

5-DAY BANKING

As regards updation of pension, IBA said in view of the high cost involved, it would be difficult to agree to the same.

But it agreed that any viable and affordable proposition from the UFBU in this regard would be examined.

As for five-day banking, IBA regretted its inability to accept the demand in the present situation. It agreed to apply its mind to the matter if the UBFU submitted a detailed note indicating the logic and rationale.

On the issue of regulated working hours for officers, IBA was not inclined to agree to the same.

However, it agreed to study the note submitted by the officers’ organisation.

(This article was published on September 28, 2014)

http://www.thehindubusinessline.com/industry-and-economy/banking/wage-revisionbank-unions-chalk-out-plan-for-protestsfromoct-10/article6454526.ece

Banks unions to go on strike for wage hike

MUMBAI, SEPT 26:  

With bank management’s unwilling to improve the wage hike offer and other service conditions, Bank unions will go on a strike, according to CH Venkatachalam, General Secretary, All India Bank Employees Association.

The bank-wide wage negotiation meeting between the bank managements and the unions on Friday ended in a stalemate.

Venkatachalam said the date of strike will be decided in consultation with all trade unions in the banking sector.

While the bank managements, under the aegis of the Indian Banks’ Association are for 11 per cent increase in wage bill, unions say this is not enough.

“Besides increase in the cash component of the salary, we also want improvement in pension benefits, enhanced healthcare benefits, and five-day banking, among others,” said Venkatachalam.

http://www.thehindubusinessline.com/industry-and-economy/banking/banks-unions-to-go-on-strike-for-wage-hike/article6450172.ece

Bank employees expect early settlement on wage revision

The All India Bank Officers’ Confederation on Friday said it hoped the negotiation with the Indian Banks’ Association (IBA) on September 24 would result in the wage revision acceptable to the employees, failing which United Forum of Bank Unions would be forced to take some strong steps.

Addressing the members here, Confederation President Y. Sudarshan regretted the managements treat employees as ‘liability’ when it comes to wage revision while for the rest of operations, including spread of various government schemes, they are treated as assets. The vast human resource of banks, which has helped the industry to come to the present level and is prepared to the take modernisation forward, should be treated as capital asset and salaries as long-term investment, he demanded.

Officers and employees do not take pleasure in resorting to strikes and inconvenience the public, Mr. Sudarshan clarified. It is the attitude of the managements that has been forcing them to resort to strikes. Not a single wage revision in the past two decades has come without strike whereas government employees and legislators get salaries revised at regular intervals, he regretted. The 9th bipartite agreement expired in October 2012 and since then employees have eagerly been awaiting the next revision amidst several negotiations and a couple of strikes, he said.

Initially, the IBA had offered 5 per cent hike, Mr. Sudarshan said and termed it a piece of biscuit thrown at dogs. During the recently concluded negotiations, the IBA came up to offering 11 per cent hike whereas the Confederation has stuck to its demand of 25 per cent hike. The Unions and employees are no more prepared to wait, Mr. Sudarshan added.

He said public sector banks have been continuing their contribution towards strengthening the economy even as they were the ones responsible for the nation withstanding the economic slowdown in 2011. They have been the ones ensuring government’s programmes reach the targeted class, including the latest Jan Dhan Yojana. The Confederation is also opposed to merger of PSU banks, attempts for which are reportedly being made by the central government, he said.

Confederation Advisor M. Harshavardhan and others were present. (Eom)

http://www.thehindu.com/news/cities/Mangalore/bank-employees-expect-early-settlement-on-wage-revision/article6429262.ece